A.12. Characteristics of Bank Loans to Farmers -- Large Farm Lenders, by Risk Rating, February 3-7, 2003 Percent except as noted ________________________________________________________________________________________________________________________________ Loan characteristic All Minimal Low Moderate Acceptable Special Not rated Not reported ________________________________________________________________________________________________________________________________ Volume of loans (thousands of dollars) 712,368 16,126 73,115 313,630 205,589 53,868 30,744 19,296 Number of loans 15,107 317 1,432 6,364 4,801 992 628 573 Weighted average maturity (months) 1 14.44 7.74 30.70 12.12 11.96 8.33 15.58 37.82 Weighted average repricing interval (months) 2 3.11 5.06 12.28 2.59 .98 .44 2.93 5.39 Weighted average risk rating 3 3.31 1.00 2.00 3.00 4.00 5.00 n.a. n.a. Weighted average interest rate 4 4.95 5.27 5.72 4.74 4.95 5.11 4.01 6.37 Standard error 5 .30 .31 .26 .44 .35 .45 .37 .03 Interquartile range 6 75th percentile 6.17 6.50 7.20 6.00 5.61 6.18 4.33 6.45 25th percentile 3.80 3.56 4.34 3.30 4.32 3.24 3.39 6.08 Purpose of loan Feeder livestock 4.77 5.36 5.29 4.43 4.56 5.86 3.51 6.26 Other livestock 4.22 3.66 5.10 3.98 4.41 5.89 4.76 6.15 Other current operating expenses 7 5.42 5.48 5.98 5.45 5.36 4.88 4.09 6.35 Farm machinery and equipment 5.09 7.25 7.03 4.85 4.89 4.73 7.29 6.51 Farm real estate 5.57 n.a. 6.08 5.58 6.03 7.12 3.95 6.42 Other 8 4.36 6.67 4.94 4.11 4.50 5.48 3.95 6.58 Share of total loan volume Features of loan Floating rates 84.96 39.88 55.54 86.01 94.15 96.77 91.32 76.12 Under commitment 84.52 93.24 64.69 84.15 89.86 94.62 93.51 58.90 Callable 16.01 48.07 42.97 13.04 8.81 2.42 3.61 69.69 Subject to prepayment penalty 7.46 .47 2.38 7.81 5.85 27.40 .07 n.a. Purpose of loan Feeder livestock 15.91 16.59 33.69 14.85 15.98 6.91 .56 14.13 Other livestock 7.86 18.43 3.04 11.09 6.25 4.96 .13 2.44 Other current operating expenses 7 43.23 53.01 46.21 37.54 44.86 69.28 22.31 59.39 Farm machinery and equipment 6.08 .48 3.96 7.24 7.59 .48 .69 7.97 Farm real estate 3.28 38.20 11.19 1.31 .01 7.05 3.68 n.a. Other 8 23.64 11.48 4.69 26.66 23.33 18.34 63.95 10.21 Type of collateral Farm real estate 8.85 7.53 24.98 5.75 7.46 6.76 13.05 13.07 Other 85.72 84.58 67.23 87.48 88.98 91.91 83.05 80.45 ________________________________________________________________________________________________________________________________ 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