A.12. Characteristics of Bank Loans to Farmers -- Large Farm Lenders, by Risk Rating, August 4-8, 2003 Percent except as noted ________________________________________________________________________________________________________________________________ Loan characteristic All Minimal Low Moderate Acceptable Special Not rated Not reported ________________________________________________________________________________________________________________________________ Volume of loans (thousands of dollars) 667,450 18,545 72,863 218,315 253,322 67,046 16,524 20,836 Number of loans 15,962 373 1,481 6,403 5,839 1,104 427 335 Weighted average maturity (months) 1 16.31 9.37 14.74 19.72 16.37 4.47 27.08 23.23 Weighted average repricing interval (months) 2 2.46 1.25 3.50 3.00 2.32 .46 2.82 2.12 Weighted average risk rating 3 3.44 1.00 2.00 3.00 4.00 5.00 n.a. n.a. Weighted average interest rate 4 4.73 4.34 4.96 4.77 4.34 5.88 4.09 5.36 Standard error 5 .14 .31 .35 .17 .22 .30 .42 .38 Interquartile range 6 75th percentile 5.62 5.39 6.30 6.12 5.06 7.77 5.08 5.62 25th percentile 3.55 3.55 3.55 3.55 3.55 4.59 3.15 5.10 Purpose of loan Feeder livestock 4.36 3.93 3.96 6.30 3.63 4.63 4.65 5.50 Other livestock 4.85 3.81 5.21 5.08 4.22 4.11 n.a. n.a. Other current operating expenses 7 4.85 4.26 5.65 4.91 4.48 5.36 4.43 5.65 Farm machinery and equipment 5.58 4.99 6.21 5.45 4.57 7.69 5.26 6.94 Farm real estate 5.63 n.a. 6.07 5.91 5.21 n.a. 6.31 5.84 Other 8 4.19 6.50 4.55 3.78 4.18 6.25 3.77 4.59 Share of total loan volume Features of loan Floating rates 87.71 84.58 57.45 83.07 97.73 98.38 82.13 93.27 Under commitment 86.15 89.58 89.14 83.38 88.24 96.04 93.80 38.44 Callable 14.99 16.53 48.16 17.99 5.52 10.16 .63 8.22 Subject to prepayment penalty 6.64 2.48 1.02 5.18 11.75 3.02 n.a. n.a. Purpose of loan Feeder livestock 13.84 42.82 29.76 9.15 14.95 6.40 3.30 .31 Other livestock 6.90 8.01 31.76 3.81 4.38 3.03 n.a. n.a. Other current operating expenses 7 42.15 34.32 27.39 39.78 45.44 52.49 30.91 61.22 Farm machinery and equipment 7.58 4.99 .75 5.64 9.56 18.43 .53 .84 Farm real estate 5.90 n.a. 4.39 7.99 6.53 n.a. 3.28 7.91 Other 8 23.62 9.85 5.95 33.63 19.13 19.65 61.98 29.72 Type of collateral Farm real estate 9.10 .09 7.25 10.26 9.35 8.48 12.12 7.78 Other 83.71 98.94 89.53 76.79 89.16 91.52 75.87 37.13 ________________________________________________________________________________________________________________________________ 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