A.13. Characteristics of Bank Loans to Farmers -- Small and Mid-sized Farm Lenders, by Risk Rating, February 2-6, 2004 Percent except as noted _________________________________________________________________________________________________________________________________ Loan characteristic All Minimal Low Moderate Acceptable Special Not rated Not reported _________________________________________________________________________________________________________________________________ Volume of loans (thousands of dollars) 670,394 106,555 117,365 172,438 104,022 9,839 59,528 100,647 Number of loans 18,629 2,750 4,000 5,316 1,749 351 665 3,798 Weighted average maturity (months) 1 21.47 16.98 18.61 21.31 32.04 51.89 21.06 16.34 Weighted average repricing interval (months) 2 10.00 7.94 5.86 11.82 15.80 18.94 9.01 7.63 Weighted average risk rating 3 2.59 1.00 2.00 3.00 4.00 5.00 n.a. n.a. Weighted average interest rate 4 6.42 6.21 6.15 6.32 6.68 7.76 6.52 6.63 Standard error 5 .10 .36 .17 .22 .25 .42 .34 .20 Interquartile range 6 75th percentile 7.00 7.25 6.65 6.87 7.00 8.75 6.75 7.20 25th percentile 5.95 5.11 5.57 5.95 6.00 7.50 6.25 6.00 Purpose of loan Feeder livestock 6.35 5.35 6.31 6.18 6.85 n.a. n.a. 6.94 Other livestock 6.93 4.89 n.a. 7.30 7.41 n.a. 7.68 7.10 Other current operating expenses 7 6.38 6.51 6.03 6.25 6.60 7.76 6.78 6.13 Farm machinery and equipment 6.48 5.87 6.25 6.80 7.10 n.a. 6.26 6.64 Farm real estate 6.24 4.93 6.30 6.46 6.27 n.a. 6.51 7.00 Other 8 5.95 3.21 5.42 6.22 n.a. n.a. 4.17 6.14 Share of total loan volume Features of loan Floating rates 43.23 43.21 72.01 27.34 30.07 67.54 37.97 51.24 Under commitment 50.88 69.73 60.75 69.00 15.06 36.75 6.53 53.00 Callable 28.97 27.07 14.16 38.49 23.80 19.17 4.63 52.63 Subject to prepayment penalty 1.53 n.a. 5.90 .57 .72 n.a. n.a. 1.62 Purpose of loan Feeder livestock 6.33 10.24 2.75 4.50 .07 n.a. n.a. 20.33 Other livestock 8.62 3.53 11.36 5.08 4.51 n.a. .23 26.90 Other current operating expenses 7 67.50 77.38 67.66 74.19 76.97 100.00 56.23 39.06 Farm machinery and equipment 9.76 4.05 10.88 2.62 12.84 n.a. 38.71 7.40 Farm real estate 4.34 3.98 6.14 3.50 5.60 n.a. 2.90 4.00 Other 8 3.46 .82 1.21 10.11 n.a. n.a. 1.94 2.31 Type of collateral Farm real estate 17.88 2.73 29.62 16.70 30.40 78.62 2.90 12.26 Other 74.28 91.32 69.74 81.96 66.86 21.38 49.55 75.86 _________________________________________________________________________________________________________________________________ Note. Most small and mid-sized farm lenders that reported loans to farmers had less than $25 million in farm loans. For explanation of footnotes, see table A.8. n.a. Not available. 18