A.12. Characteristics of Bank Loans to Farmers -- Large Farm Lenders, by Risk Rating, November 4-8, 2002 Percent except as noted _________________________________________________________________________________________________________________________________ Loan characteristic All Minimal Low Moderate Acceptable Special Not rated Not reported _________________________________________________________________________________________________________________________________ Volume of loans (thousands of dollars) 689,089 15,854 121,043 214,961 235,040 54,860 36,033 11,299 Number of loans 15,682 308 1,512 6,166 5,468 978 529 721 Weighted average maturity (months) 1 10.73 11.54 7.57 10.13 13.17 5.04 21.22 10.27 Weighted average repricing interval (months) 2 1.76 4.66 2.40 1.47 1.88 .02 1.14 3.80 Weighted average risk rating 3 3.30 1.00 2.00 3.00 4.00 5.00 n.a. n.a. Weighted average interest rate 4 4.74 4.48 4.21 4.72 4.98 5.24 4.00 6.09 Standard error 5 .26 .20 .49 .39 .19 .45 .52 .50 Interquartile range 6 75th percentile 5.39 4.86 4.60 5.39 5.48 5.90 4.59 6.66 25th percentile 3.30 3.56 3.30 3.30 4.32 4.33 3.43 5.60 Purpose of loan Feeder livestock 4.53 5.68 3.98 5.32 4.55 4.51 5.28 6.63 Other livestock 4.44 3.65 5.42 4.16 4.51 4.22 5.10 6.15 Other current operating expenses 7 5.36 4.73 6.10 5.15 5.34 5.85 3.90 6.58 Farm machinery and equipment 6.28 8.40 6.23 6.21 6.03 n.a. 5.82 6.50 Farm real estate 5.12 3.71 6.85 4.81 5.42 7.50 4.38 7.82 Other 8 4.17 4.82 3.37 4.12 4.80 4.48 3.98 5.34 Share of total loan volume Features of loan Floating rates 90.75 45.82 87.25 88.23 95.43 99.78 98.04 74.68 Under commitment 93.30 65.88 95.94 93.97 91.13 99.72 95.06 99.02 Callable 12.71 50.38 13.79 12.04 11.51 1.03 1.07 79.97 Subject to prepayment penalty 3.96 2.47 .84 9.22 1.41 4.88 .24 n.a. Purpose of loan Feeder livestock 9.82 1.10 21.41 7.59 9.74 3.40 .29 3.52 Other livestock 10.67 17.07 3.80 12.99 13.63 7.26 .30 19.20 Other current operating expenses 7 37.50 49.38 18.86 44.83 38.11 56.83 17.49 38.23 Farm machinery and equipment 1.41 2.78 2.32 1.83 .94 .05 .84 n.a. Farm real estate 3.09 18.44 1.50 1.26 4.63 .01 7.58 1.90 Other 8 37.51 11.23 52.11 31.50 32.95 32.50 74.26 34.47 Type of collateral Farm real estate 5.40 5.85 3.07 3.96 7.46 2.10 13.73 4.06 Other 84.12 93.03 93.58 83.35 80.28 91.27 69.99 74.96 _________________________________________________________________________________________________________________________________ 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