A.13. Characteristics of Bank Loans to Farmers -- Small and Mid-sized Farm Lenders, by Risk Rating, May 3-7, 2004 Percent except as noted ________________________________________________________________________________________________________________________________ Loan characteristic All Minimal Low Moderate Acceptable Special Not rated Not reported ________________________________________________________________________________________________________________________________ Volume of loans (thousands of dollars) 466,937 70,161 80,062 114,742 39,035 4,681 27,789 130,468 Number of loans 19,255 2,933 4,567 5,819 1,318 283 1,273 3,063 Weighted average maturity (months) 1 42.40 25.55 35.38 39.46 119.82 4.43 17.50 42.51 Weighted average repricing interval (months) 2 11.47 13.70 14.36 10.42 10.42 1.67 7.77 10.86 Weighted average risk rating 3 2.44 1.00 2.00 3.00 4.00 5.00 n.a. n.a. Weighted average interest rate 4 6.28 6.02 6.40 6.60 6.67 7.27 6.16 5.93 Standard error 5 .14 .26 .37 .15 .36 .59 .27 .22 Interquartile range 6 75th percentile 6.96 6.72 7.23 7.25 6.96 7.71 7.52 6.51 25th percentile 5.27 5.06 5.39 5.97 6.54 7.70 5.05 5.06 Purpose of loan Feeder livestock 5.76 4.46 6.04 6.49 n.a. n.a. 7.58 5.68 Other livestock 7.19 9.21 n.a. 8.79 6.97 5.94 6.51 6.46 Other current operating expenses 7 6.40 6.50 6.77 6.46 6.46 7.35 6.36 5.83 Farm machinery and equipment 6.52 7.02 5.82 6.60 8.00 7.23 7.41 7.05 Farm real estate 5.86 5.43 5.76 6.64 6.43 n.a. 6.11 5.78 Other 8 6.28 3.53 5.95 5.57 6.81 n.a. 5.45 6.59 Share of total loan volume Features of loan Floating rates 56.43 44.44 54.20 46.03 77.37 52.24 37.73 71.28 Under commitment 54.73 34.19 54.12 67.23 89.73 98.06 46.06 44.97 Callable 28.28 7.79 6.01 24.74 12.53 n.a. 49.62 57.27 Subject to prepayment penalty 3.49 18.41 2.33 .15 n.a. 25.84 n.a. .09 Purpose of loan Feeder livestock 5.15 .80 3.48 .41 n.a. n.a. 2.03 15.09 Other livestock 5.15 .32 1.75 6.12 5.07 5.66 6.42 8.71 Other current operating expenses 7 51.12 51.19 59.84 64.80 38.20 93.50 25.48 41.50 Farm machinery and equipment 4.99 2.84 10.39 6.49 .49 .85 11.55 1.62 Farm real estate 22.56 44.79 17.22 16.90 5.43 n.a. 21.31 25.07 Other 8 11.02 .06 7.32 5.28 50.81 n.a. 33.23 8.00 Type of collateral Farm real estate 35.58 47.87 33.60 27.01 64.88 72.50 20.81 30.78 Other 61.39 46.55 64.57 68.12 32.58 27.50 76.40 68.14 ________________________________________________________________________________________________________________________________ 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