A.12. Characteristics of Bank Loans to Farmers -- Large Farm Lenders, by Risk Rating, February 2-6, 2009 Percent except as noted ___________________________________________________________________________________________________________________________________ Loan characteristic All Minimal Low Moderate Acceptable Special Not rated Not reported ___________________________________________________________________________________________________________________________________ Volume of loans (thousands of dollars) 1,637,936 75,496 103,344 687,318 561,861 41,235 4,022 164,659 Number of loans 19,597 892 1,937 9,867 3,810 730 52 2,310 Weighted average maturity (months) 1 17.34 11.76 17.60 19.97 14.05 12.36 31.30 21.31 Weighted average repricing interval (months) 2 6.54 3.78 3.74 6.61 6.63 1.63 9.09 10.21 Weighted average risk rating 3 3.27 1.00 2.00 3.00 4.00 5.00 n.a. n.a. Weighted average interest rate 4 4.85 5.03 5.19 4.88 4.64 5.04 4.44 5.11 Standard error 5 .28 .44 .48 .37 .42 .54 1.30 .36 Interquartile range 6 75th percentile 6.18 5.50 5.83 6.26 6.66 6.38 5.90 6.17 25th percentile 3.30 4.08 5.00 3.50 3.09 3.30 2.53 4.00 Purpose of loan Feeder livestock 4.53 5.20 4.95 4.53 4.27 4.29 n.a. 3.96 Other livestock 3.49 n.a. 4.82 4.36 2.55 3.80 n.a. 3.30 Other current operating expenses 7 5.27 4.90 5.25 5.42 5.11 5.17 n.a. 5.41 Farm machinery and equipment 5.25 6.70 5.31 4.94 5.26 7.08 n.a. 5.96 Farm real estate 5.51 5.25 6.09 5.46 5.54 3.75 6.43 5.40 Other 8 3.55 5.28 4.51 3.25 3.32 4.79 2.67 4.13 Share of total loan volume Features of loan Floating rates 64.70 61.90 76.40 62.24 65.76 87.80 85.26 59.00 Under commitment 79.17 72.56 66.05 85.79 82.37 82.91 51.44 51.65 Callable 11.19 29.37 19.37 14.05 2.32 10.86 n.a. 16.39 Subject to prepayment penalty 1.57 .16 n.a. .56 3.44 4.51 n.a. .30 Purpose of loan Feeder livestock 4.02 9.27 13.09 2.61 3.09 1.19 n.a. 5.76 Other livestock 5.50 n.a. 1.36 6.52 7.79 .20 n.a. .02 Other current operating expenses 7 62.98 68.97 68.83 62.01 64.55 60.77 n.a. 57.33 Farm machinery and equipment 3.86 .94 10.57 5.02 .82 1.00 n.a. 7.32 Farm real estate 5.84 5.10 1.34 4.08 7.99 .11 47.14 9.45 Other 8 17.80 15.72 4.81 19.75 15.76 36.73 52.86 20.12 Type of collateral Farm real estate 10.83 6.62 6.44 9.95 6.54 20.17 33.82 30.91 Other 87.06 93.10 89.36 87.89 92.77 76.87 51.44 63.33 ___________________________________________________________________________________________________________________________________ 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