GreenStone Farm Credit Services has released its 2018 annual report, which highlights the record-level earnings the association experienced last year, powered by internal efficiencies and a diverse loan portfolio.

“Through our diversified product growth, continued vigilance in maintaining cost-effective operations and working closely with each member to meet their needs, GreenStone remains in a very favorable financial position,” says Dave Armstrong, GreenStone CEO and president. “This strong position grants us the fortitude to design individual solutions for our members and allows us to return an even higher percentage of earnings through our patronage program.”

Based on 2018 earnings, the GreenStone board of directors announced a record patronage payment of $82 million to members. The funds were distributed in March. This year’s payment brings the total patronage paid to member-owners to $400 million since the program’s inception in 2005.

Other financial highlights in this year’s report include:

“Most importantly, we remain committed to our members and remain optimistic about the future of American agriculture and rural communities,” Armstrong says. “The agriculture industry is relatively healthy compared to the depth of downturns over history, and GreenStone remains well positioned to support its members today and in the future.”

The report can be viewed and downloaded on the association’s website, www.greenstonefcs.com.

Source: GreenStone Farm Credit Services, which is solely responsible for the information provided and is wholly owned by the source. Informa Business Media and all its subsidiaries are not responsible for any of the content contained in this information asset.