A.12. Characteristics of Bank Loans to Farmers -- Large Farm Lenders, by Risk Rating, November 1-5, 2004 Percent except as noted ___________________________________________________________________________________________________________________________________ Loan characteristic All Minimal Low Moderate Acceptable Special Not rated Not reported ___________________________________________________________________________________________________________________________________ Volume of loans (thousands of dollars) 1,066,990 9,062 258,059 455,228 257,265 59,013 1,053 27,310 Number of loans 16,922 300 2,011 8,802 3,961 1,011 65 772 Weighted average maturity (months) 1 18.72 4.51 13.05 18.65 26.86 9.44 8.31 20.79 Weighted average repricing interval (months) 2 4.28 2.30 9.22 2.20 3.91 .32 .81 4.85 Weighted average risk rating 3 3.10 1.00 2.00 3.00 4.00 5.00 n.a. n.a. Weighted average interest rate 4 5.16 5.59 4.92 5.16 5.25 5.76 5.87 5.12 Standard error 5 .26 .53 .40 .25 .32 .76 1.05 .59 Interquartile range 6 75th percentile 5.96 6.64 5.92 6.18 6.16 5.64 6.43 5.85 25th percentile 4.08 4.07 3.99 3.82 4.33 4.85 4.33 4.32 Purpose of loan Feeder livestock 5.45 7.13 5.82 5.19 4.99 5.54 3.93 n.a. Other livestock 4.58 3.82 4.26 5.57 4.61 6.12 6.61 n.a. Other current operating expenses 7 5.34 6.07 4.79 5.37 5.25 6.19 8.55 6.30 Farm machinery and equipment 5.33 2.94 5.08 5.05 5.77 5.39 n.a. 5.97 Farm real estate 6.06 n.a. 4.81 6.35 6.23 5.78 n.a. 7.27 Other 8 4.66 4.64 4.97 4.53 4.51 5.19 5.65 4.60 Share of total loan volume Features of loan Floating rates 82.01 42.17 42.94 94.16 97.82 97.63 95.41 78.69 Under commitment 86.11 98.19 88.15 81.12 89.36 97.47 100.00 90.45 Callable 29.58 34.78 71.86 21.79 8.47 2.43 6.71 16.41 Subject to prepayment penalty 6.24 .10 n.a. 9.42 9.21 .01 n.a. n.a. Purpose of loan Feeder livestock 14.69 12.11 25.76 15.34 7.13 1.25 19.13 n.a. Other livestock 12.18 10.65 31.81 5.21 8.13 3.56 14.64 n.a. Other current operating expenses 7 34.00 53.71 21.07 35.08 43.08 45.67 14.14 21.69 Farm machinery and equipment 11.75 1.81 .52 15.01 15.99 22.51 n.a. 4.22 Farm real estate 6.20 n.a. 3.81 5.68 10.43 4.51 n.a. 3.46 Other 8 21.18 21.71 17.02 23.67 15.25 22.50 52.08 70.63 Type of collateral Farm real estate 6.55 8.59 3.13 5.34 9.07 1.59 4.59 45.47 Other 87.43 89.68 91.77 85.28 89.36 95.19 90.74 46.33 ___________________________________________________________________________________________________________________________________ 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