A.12. Characteristics of Bank Loans to Farmers -- Large Farm Lenders, by Risk Rating, November 3-7, 2008 Percent except as noted ___________________________________________________________________________________________________________________________________ Loan characteristic All Minimal Low Moderate Acceptable Special Not rated Not reported ___________________________________________________________________________________________________________________________________ Volume of loans (thousands of dollars) 1,408,572 50,840 141,845 589,585 477,713 26,856 4,584 117,149 Number of loans 18,875 839 2,145 10,125 3,329 534 67 1,837 Weighted average maturity (months) 1 25.53 9.17 12.67 19.58 23.06 9.53 10.04 100.15 Weighted average repricing interval (months) 2 7.02 6.31 4.02 9.69 2.02 .49 .36 19.70 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 4.56 5.53 4.94 4.49 4.20 5.20 3.04 5.42 Standard error 5 .19 .75 .21 .34 .46 .39 1.10 .33 Interquartile range 6 75th percentile 5.65 6.40 6.00 5.64 5.22 6.16 3.56 6.12 25th percentile 3.56 4.18 4.07 3.30 3.30 4.07 1.51 4.29 Purpose of loan Feeder livestock 4.68 4.84 5.21 4.70 3.57 4.80 n.a. 4.86 Other livestock 4.36 6.40 5.30 4.30 4.34 4.07 n.a. 4.60 Other current operating expenses 7 4.54 5.74 4.75 4.53 3.97 5.77 6.12 5.43 Farm machinery and equipment 5.77 n.a. 6.25 5.86 5.13 n.a. n.a. 5.82 Farm real estate 5.83 6.25 5.46 6.72 4.62 n.a. n.a. 6.34 Other 8 3.98 4.62 3.76 3.68 4.30 4.39 2.81 4.33 Share of total loan volume Features of loan Floating rates 84.59 28.31 69.26 88.24 91.10 87.01 93.32 81.77 Under commitment 79.81 68.91 69.34 87.40 85.45 97.64 51.94 33.06 Callable 15.80 60.26 35.14 18.41 3.50 6.64 n.a. 12.85 Subject to prepayment penalty .62 n.a. .45 1.15 .06 n.a. n.a. .89 Purpose of loan Feeder livestock 8.64 25.79 27.70 4.69 4.88 .90 n.a. 15.41 Other livestock 10.31 .58 3.65 10.12 16.16 1.88 n.a. 1.98 Other current operating expenses 7 40.03 60.30 51.65 42.57 34.32 58.60 6.81 24.65 Farm machinery and equipment 2.02 n.a. 3.22 2.34 1.21 n.a. n.a. 3.74 Farm real estate 11.88 10.02 7.89 9.44 11.68 n.a. n.a. 33.85 Other 8 27.12 3.31 5.88 30.84 31.75 38.63 93.19 20.37 Type of collateral Farm real estate 11.46 15.36 6.85 12.62 5.60 6.01 n.a. 35.13 Other 85.83 83.01 89.16 83.98 92.96 93.99 93.32 61.12 ___________________________________________________________________________________________________________________________________ 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