A.12. Characteristics of Bank Loans to Farmers -- Large Farm Lenders, by Risk Rating, February 2-6, 2004 Percent except as noted _________________________________________________________________________________________________________________________________ Loan characteristic All Minimal Low Moderate Acceptable Special Not rated Not reported _________________________________________________________________________________________________________________________________ Volume of loans (thousands of dollars) 919,804 33,059 103,734 288,784 244,812 55,706 91,205 102,505 Number of loans 15,068 480 1,677 6,021 5,056 878 541 416 Weighted average maturity (months) 1 18.62 57.14 17.72 16.35 12.57 12.58 37.18 15.89 Weighted average repricing interval (months) 2 3.00 10.69 5.59 2.90 2.09 .41 3.40 1.42 Weighted average risk rating 3 3.26 1.00 2.00 3.00 4.00 5.00 n.a. n.a. Weighted average interest rate 4 4.69 5.37 4.67 4.81 4.59 4.73 3.99 5.00 Standard error 5 .13 .24 .38 .23 .17 .50 .58 .36 Interquartile range 6 75th percentile 5.51 6.17 5.50 6.00 5.38 5.61 5.10 5.12 25th percentile 3.75 4.55 3.56 3.80 4.06 3.30 2.37 5.12 Purpose of loan Feeder livestock 4.43 5.77 3.64 5.09 4.45 4.00 6.30 5.93 Other livestock 4.69 5.42 5.21 4.38 3.86 3.73 5.76 6.14 Other current operating expenses 7 4.89 5.18 4.97 5.14 4.73 5.04 3.88 5.50 Farm machinery and equipment 4.46 n.a. 4.78 4.32 5.26 3.35 4.53 5.66 Farm real estate 5.65 5.22 6.28 5.85 3.92 n.a. 6.20 6.25 Other 8 4.33 2.96 4.69 4.19 4.39 4.03 2.90 4.93 Share of total loan volume Features of loan Floating rates 87.68 65.09 67.33 86.11 91.86 99.07 99.29 93.46 Under commitment 84.99 55.75 87.14 82.38 88.65 78.29 81.25 97.85 Callable 18.81 57.27 40.27 23.86 9.37 3.36 8.86 10.27 Subject to prepayment penalty 7.21 13.49 .01 11.60 1.22 .04 27.79 n.a. Purpose of loan Feeder livestock 6.72 29.73 23.63 2.82 7.27 1.85 .29 .26 Other livestock 5.50 6.12 13.04 4.85 4.72 4.22 7.65 .19 Other current operating expenses 7 46.31 31.33 37.48 53.32 59.60 72.14 32.81 6.60 Farm machinery and equipment 7.11 n.a. 4.72 16.51 2.82 3.48 3.39 .86 Farm real estate 4.69 32.44 3.11 3.36 1.81 n.a. 14.72 1.56 Other 8 29.67 .38 18.02 19.15 23.78 18.31 41.15 90.54 Type of collateral Farm real estate 9.45 24.23 6.87 9.02 7.44 17.25 3.92 14.01 Other 81.95 73.83 91.03 71.28 87.61 82.46 88.90 85.42 _________________________________________________________________________________________________________________________________ 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