EAST LANSING, Mich. — GreenStone Farm Credit Services recently released its first quarter stockholder report, detailing earnings of $38.0 million for the three months ended March 31, 2017. Comparatively, net income was $34.0 million for the same period last year. Owned and managed loan volume totaled $8.0 billion at March 31, 2017.
“Despite market challenges, GreenStone is off to a solid start this year,” said Travis Jones, GreenStone’s chief financial officer. “Our credit quality and revenue remain stable. As a result, we expect the year to show steady growth in support of our 2017 business plan.”
Other numbers of note from this quarter’s stockholder report include:
- Operating expenses remained well-controlled as our efficiency ratio was 35.1 percent.
- Acceptable loan credit quality remained stable at 95.3 percent.
- The total capital ratio was 16.3 percent.
The complete first quarter stockholder report can be viewed online by visiting: www.greenstonefcs.com.
About GreenStone Farm Credit Services
GreenStone Farm Credit Services, based in East Lansing, Michigan, is Michigan and northeast Wisconsin’s largest agricultural lender and the country’s seventh largest association in the Farm Credit System. A member-owned cooperative, GreenStone owns and manages over $8 billion in assets and serves 24,000 members with 36 branch locations in Michigan and northeast Wisconsin. More information on GreenStone can be found at www.greenstonefcs.com.
— GreenStone Farm Credit Services
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