Directors' Perspective

Directors’ Perspective:

Highlights to Note with CEO Dave Armstrong

Serving under the direction of GreenStone’s member-elected Board of Directors, Dave Armstrong has impressively led the association as your President and CEO since 2009. While there’s much to acknowledge from those 13 years, your directors share just a brief snippet of what stands out to them from their time working with Dave during his tenure.

Listens and Relates

“How many CEO’s of an organization, with the track record of long term success that GreenStone has, can sit in the backyard of a farm and discuss what is going on in agriculture like Dave? The first time Dave visited our farm and sat with my 80-year-old father and had a long talk about what farming means to our family was very memorable. His ability to relate to anyone in our industry is unparalleled; he is leaving big shoes to fill.” — Jed Welder, 3 year board member

Facilitates Success

“The one thing that stands out to me is the ease that he can handle a conflict or situation, so all parties understand and come to an agreement.” — Ron Lucas, 8 year board member

Complete Integrity

“I’ve known Dave for quite a few years now, but if I had to think of one word to associate with him it would have to be “integrity.” Dave always takes the high road and is never afraid to do the right thing.” — Scott Roggenbuck, 14 year board member

Finding Success Regardless of Challenges

“Although fairly recent in the scope of Dave's tenure at the helm of GreenStone, it is important to recognize the hurdles Dave and his executive team jumped through in altering business course during the Coronavirus pandemic to keep employees safe while meeting customers’ needs. All of that while still recording a record net income and paying a record dividend back to patrons. Nothing short of exceptional.” — Troy Sellen, 2 year board member

Always Relatable

“I have only been with the board just under a year. The character that stands out about Dave is his grasp of the financial business and his understanding of the uniqueness of the agriculture business. Dave has a comfort level whether talking to VP or any local farmer.” — Michael Feight, nearly 1 year board member

A Team with Bench Strength

“Dave has been incredibly successful at weaving together a management team that works coherently together, resulting in GreenStone’s outstanding success at being a trusted, stable lender for our agricultural community. He excels at taking calculated risks to continue to grow the organization without hindering the security of our customer’s lending base.” — Terri Hawbaker, 6 year board member

Customers First

“The one main thing about Dave I remember is he was one of four CEOs in Michigan when there were four Farm Credit associations merging in 2000, and as a result he was going to lose his CEO job. And he still did what was best for the farmers of Michigan and helped create GreenStone Farm Credit Services.” — Dave McConnachie, 1 year current term board member, with 13 years on a prior term

Pandemic Pivots

“I am most impressed with Dave’s leadership during the last two years of the pandemic. I can remember my first emergency board meeting with Dave detailing how GreenStone would be operating during the lock down to meet the needs of our customers. It was a time of great uncertainty and challenges none of us had ever faced before. Through all these challenges Dave has managed to not only keep GreenStone on course, but help guide us to some of the best years we have ever had financially.” — Mike Timmer, 3 year board member

Delivering Quality

“Two things stand out to me when I think about Dave’s time as CEO. One is his ability to foster and maintain a great culture for employees and members alike. The second is his commitment to the Patronage Program and returning in excess of $700 million back to members.” — Dale Wagner, 9 year board member

Keeping It All Balanced

“The leadership he provided in the siting and constructing the new headquarters is a highlight. His drive, focus and management of the myriad of decisions facing the organization were just amazing. His appointment of Clint (Director of Facilities) at that time was just another in a long line of terrific talent recognitions that mark his tenure.” — Dennis Muchmore, 19 year appointed director

Doing What’s Right

“I guess one thing that really stands out to me was Dave’s handling of the COVID pandemic: shutting down offices, working virtually, and keeping the team working so effectively in so much adversity to continue to deliver for our members needs.” — Bruce Lewis, 10 year board member

Complete Engagement

“Dave sticks his nose into every aspect of the business. He continually asks, “why do we do it this way?” And, he is laser focused on improving customer service at lower cost, which is partially why paper is not his friend!” — Gene College, 12 year appointed director

Humble Leadership

“Dave’s passion for Michigan and Wisconsin agriculture and Farm Credit is second to none. He has an incredible ability to collaborate with staff, shareholders, and his counterparts in agriculture. I have always admired his humility and availability as the leader of GreenStone. He has always been willing to step up to challenges and do the right thing. At the beginning of the pandemic and the first round of PPP loans, Dave was quickly eating his Easter dinner so that he could get back to manually keying in customer loans…if that isn’t humble leadership, I don’t know what is. Thank you for all you have done for agriculture, Mr. Armstrong!” — Peter Maxwell, 5 year board member

Few Words, Big Impact

“Among the years of memories and significant moments, there’s several phrases, “Davisms” that stick out to me, which I feel truly define his leadership and management traits. – Reputation Management – Carry the water – Politics – It's a Team Sport – Block and Tackle – Juice worth the squeeze – Out over your skis – How much capital is enough – Bench Strength – What does that do for cost – Growth – Keep your eye on the ball – Got lucky again – Swing and a miss – Shoot for the middle – Shareholder value – GreenStone is "My Farm" –Dave, thanks for all your leadership; you've left the “farm” in great shape!” — Ed Reed, 13 year board member. ■