A.13. Characteristics of Bank Loans to Farmers -- Small and Mid-sized Farm Lenders, by Risk Rating, August 4-8, 2003 Percent except as noted ________________________________________________________________________________________________________________________________ Loan characteristic All Minimal Low Moderate Acceptable Special Not rated Not reported ________________________________________________________________________________________________________________________________ Volume of loans (thousands of dollars) 346,496 30,671 87,540 101,270 17,264 13,594 22,325 73,833 Number of loans 16,832 2,272 3,713 5,154 732 339 762 3,860 Weighted average maturity (months) 1 62.10 9.71 89.95 37.92 139.87 56.66 19.41 79.92 Weighted average repricing interval (months) 2 14.40 2.91 6.61 13.34 8.83 .40 3.21 37.03 Weighted average risk rating 3 2.58 1.00 2.00 3.00 4.00 5.00 n.a. n.a. Weighted average interest rate 4 6.53 6.11 6.08 6.96 6.20 7.05 6.20 6.71 Standard error 5 .15 .48 .20 .19 .49 .50 .52 .28 Interquartile range 6 75th percentile 7.49 7.19 6.66 7.61 6.17 7.76 6.36 7.50 25th percentile 5.62 5.06 5.25 6.25 5.51 5.64 5.50 5.85 Purpose of loan Feeder livestock 6.20 5.57 5.48 8.52 n.a. n.a. n.a. 6.62 Other livestock 7.05 6.19 n.a. 7.53 7.02 6.90 7.89 7.70 Other current operating expenses 7 6.46 6.23 6.40 6.57 7.74 6.29 6.05 6.52 Farm machinery and equipment 6.98 7.37 7.00 7.34 11.61 n.a. 6.07 6.72 Farm real estate 6.41 n.a. 5.81 6.69 n.a. n.a. 6.60 6.89 Other 8 6.61 7.00 6.99 7.22 5.68 7.76 7.20 6.20 Share of total loan volume Features of loan Floating rates 55.43 59.91 58.25 56.63 83.94 95.46 72.22 29.47 Under commitment 40.09 81.90 44.08 39.54 34.18 31.68 15.14 29.21 Callable 15.21 16.36 5.27 23.90 1.50 29.22 .58 19.67 Subject to prepayment penalty .31 n.a. 1.25 n.a. n.a. n.a. n.a. n.a. Purpose of loan Feeder livestock 10.28 34.06 15.09 5.63 n.a. n.a. n.a. 8.46 Other livestock 6.48 18.27 2.96 10.38 .90 3.67 2.04 3.56 Other current operating expenses 7 44.13 37.66 49.60 51.55 22.87 46.47 58.56 30.32 Farm machinery and equipment 9.22 9.86 .92 14.48 .65 n.a. 24.28 10.72 Farm real estate 19.20 n.a. 31.18 8.13 n.a. n.a. 11.29 38.59 Other 8 10.70 .16 .25 9.83 75.58 49.86 3.84 8.35 Type of collateral Farm real estate 32.40 6.53 39.61 21.91 58.27 61.43 4.85 45.92 Other 64.34 92.10 55.09 76.65 40.12 29.00 94.80 49.84 ________________________________________________________________________________________________________________________________ Note. Most small and mid-sized farm lenders that reported loans to farmers had less than $25 million in farm loans. For explanation of footnotes, see table A.8. n.a. Not available. 18