A.12. Characteristics of Bank Loans to Farmers -- Large Farm Lenders, by Risk Rating, May 1-5, 2006 Percent except as noted __________________________________________________________________________________________________________________________________ Loan characteristic All Minimal Low Moderate Acceptable Special Not rated Not reported __________________________________________________________________________________________________________________________________ Volume of loans (thousands of dollars) 1,289,765 51,552 89,228 725,569 208,373 51,710 96,131 67,202 Number of loans 19,578 744 1,778 10,177 3,182 1,090 1,558 1,049 Weighted average maturity (months) 1 13.83 10.90 12.17 11.67 16.49 15.91 18.87 27.44 Weighted average repricing interval (months) 2 2.88 3.58 4.33 1.74 1.37 10.30 5.38 8.44 Weighted average risk rating 3 3.11 1.00 2.00 3.00 4.00 5.00 n.a. n.a. Weighted average interest rate 4 7.95 7.62 8.24 7.81 8.30 8.44 8.12 7.67 Standard error 5 .16 .18 .11 .29 .24 .42 .17 .06 Interquartile range 6 75th percentile 8.57 8.03 8.94 8.30 9.11 9.11 8.51 8.01 25th percentile 7.45 6.98 7.25 7.23 7.50 7.04 7.75 7.25 Purpose of loan Feeder livestock 8.26 8.37 7.78 8.24 8.52 8.49 8.23 8.40 Other livestock 8.12 7.49 8.00 7.79 8.47 7.92 7.60 9.85 Other current operating expenses 7 8.28 7.62 8.33 8.32 8.41 8.42 8.26 7.65 Farm machinery and equipment 7.93 7.91 8.06 7.85 8.99 9.94 7.89 8.23 Farm real estate 7.86 7.99 8.42 7.82 7.75 8.67 8.38 7.28 Other 8 7.45 6.73 8.38 7.03 7.94 8.40 8.03 7.53 Share of total loan volume Features of loan Floating rates 86.17 52.87 63.36 91.94 96.80 77.82 67.99 79.16 Under commitment 87.22 87.84 89.78 85.82 86.02 91.91 94.26 88.46 Callable 19.31 36.56 46.12 12.32 18.54 9.19 34.32 34.58 Subject to prepayment penalty 1.15 n.a. n.a. 1.73 1.07 n.a. .09 n.a. Purpose of loan Feeder livestock 5.62 17.27 11.69 3.79 8.27 1.14 6.20 2.79 Other livestock 7.32 11.99 8.27 4.25 19.18 3.82 5.68 3.93 Other current operating expenses 7 35.72 50.53 52.22 31.76 30.99 78.38 40.31 20.37 Farm machinery and equipment 21.95 3.43 5.26 34.80 7.25 2.76 5.92 2.77 Farm real estate 2.21 2.35 2.03 .95 4.00 .05 5.70 7.04 Other 8 27.19 14.43 20.53 24.45 30.31 13.86 36.19 63.11 Type of collateral Farm real estate 7.04 2.48 6.27 4.12 7.72 15.75 5.86 35.91 Other 88.62 76.18 88.63 92.74 88.18 78.44 90.97 59.57 __________________________________________________________________________________________________________________________________ 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