A.12. Characteristics of Bank Loans to Farmers -- Large Farm Lenders, by Risk Rating, May 5-9, 2003 Percent except as noted ________________________________________________________________________________________________________________________________ Loan characteristic All Minimal Low Moderate Acceptable Special Not rated Not reported ________________________________________________________________________________________________________________________________ Volume of loans (thousands of dollars) 590,927 37,884 61,634 214,874 155,289 47,409 46,671 27,166 Number of loans 17,598 486 2,087 7,460 4,433 895 910 1,327 Weighted average maturity (months) 1 20.65 11.69 20.48 24.16 18.29 19.56 22.70 19.87 Weighted average repricing interval (months) 2 4.72 6.41 6.97 4.78 3.26 2.70 7.45 5.13 Weighted average risk rating 3 3.22 1.00 2.00 3.00 4.00 5.00 n.a. n.a. Weighted average interest rate 4 5.47 7.00 6.11 5.15 5.10 6.71 4.53 5.98 Standard error 5 .23 .47 .35 .38 .42 .34 .50 .02 Interquartile range 6 75th percentile 6.69 8.11 7.25 6.55 5.82 7.50 6.00 6.17 25th percentile 4.33 5.65 5.25 3.80 4.33 5.38 3.36 5.65 Purpose of loan Feeder livestock 4.78 5.62 5.95 4.25 5.26 5.14 4.23 6.36 Other livestock 4.59 4.48 5.90 4.24 4.29 3.93 7.20 5.96 Other current operating expenses 7 5.96 7.41 6.19 5.88 5.37 6.71 5.00 6.15 Farm machinery and equipment 5.98 6.15 6.56 5.67 5.03 7.46 6.62 5.88 Farm real estate 6.13 5.84 6.56 5.87 6.47 5.11 5.88 5.38 Other 8 4.77 6.03 5.83 4.64 4.67 6.16 3.65 5.75 Share of total loan volume Features of loan Floating rates 81.46 27.04 58.07 87.27 95.38 96.36 81.26 59.20 Under commitment 85.28 90.30 77.82 78.35 91.65 92.06 94.08 86.72 Callable 22.73 23.76 41.09 27.87 8.79 7.05 .44 84.36 Subject to prepayment penalty 3.15 .50 1.83 4.37 4.91 .60 n.a. n.a. Purpose of loan Feeder livestock 9.81 10.01 10.31 15.76 4.65 7.44 2.81 7.05 Other livestock 7.13 6.87 10.10 7.27 10.38 .28 .92 3.69 Other current operating expenses 7 44.79 81.27 56.30 37.35 45.76 33.78 41.62 45.89 Farm machinery and equipment 10.11 .55 .84 8.46 13.26 34.69 2.62 9.44 Farm real estate 4.05 1.14 6.49 3.63 4.30 .15 8.58 3.55 Other 8 24.11 .17 15.96 27.54 21.65 23.66 43.45 30.37 Type of collateral Farm real estate 15.80 46.08 20.95 16.95 8.74 8.38 9.67 16.60 Other 75.47 47.13 66.72 68.96 87.89 90.88 80.65 79.51 ________________________________________________________________________________________________________________________________ Note. Most large farm lenders that reported loans to farmers had more than $25 million in farm loans. For explanation of footnotes, see table A.8. n.a. Not available. 17