A.12. Characteristics of Bank Loans to Farmers -- Large Farm Lenders, by Risk Rating, November 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) 787,864 14,398 55,975 284,959 289,001 56,350 33,436 53,745 Number of loans 16,444 398 1,252 6,886 5,778 1,182 460 488 Weighted average maturity (months) 1 14.32 8.71 17.85 12.16 13.24 24.21 21.98 16.07 Weighted average repricing interval (months) 2 2.57 3.63 6.59 2.29 1.87 .85 11.62 1.09 Weighted average risk rating 3 3.45 1.00 2.00 3.00 4.00 5.00 n.a. n.a. Weighted average interest rate 4 4.49 4.74 5.22 4.41 4.25 5.12 3.55 5.27 Standard error 5 .12 .59 .32 .18 .13 .21 .92 .26 Interquartile range 6 75th percentile 5.12 6.00 6.35 5.38 4.85 6.17 4.07 5.12 25th percentile 3.31 4.07 4.07 3.16 3.30 3.82 2.46 5.12 Purpose of loan Feeder livestock 3.99 5.46 6.01 4.00 3.45 5.01 n.a. 5.90 Other livestock 4.19 3.55 4.82 4.36 3.84 4.07 5.71 6.64 Other current operating expenses 7 4.79 4.46 5.14 4.77 4.71 4.92 3.65 6.10 Farm machinery and equipment 4.96 3.76 5.99 4.93 4.55 7.13 6.40 5.99 Farm real estate 5.86 3.92 6.29 5.50 5.60 6.43 5.84 5.84 Other 8 4.23 3.60 4.34 4.02 4.16 5.75 3.03 5.05 Share of total loan volume Features of loan Floating rates 90.62 63.26 65.45 91.14 97.46 98.99 61.38 94.06 Under commitment 92.95 67.37 79.49 92.79 95.95 96.70 93.53 94.22 Callable 17.08 36.77 46.27 19.20 11.53 6.10 2.41 20.60 Subject to prepayment penalty 2.17 2.42 2.69 2.80 2.30 .73 .37 .20 Purpose of loan Feeder livestock 18.68 41.78 10.79 23.45 21.31 3.20 n.a. 9.12 Other livestock 8.06 10.21 20.85 5.45 10.21 8.04 1.05 .84 Other current operating expenses 7 38.46 41.85 47.66 41.30 37.21 64.00 14.87 7.57 Farm machinery and equipment 4.92 .44 3.60 5.77 5.64 .19 6.53 3.10 Farm real estate 3.48 2.95 8.07 1.23 3.49 9.10 6.33 3.00 Other 8 26.41 2.78 9.04 22.81 22.14 15.48 71.22 76.39 Type of collateral Farm real estate 5.87 7.75 10.49 4.65 3.58 12.64 14.74 6.74 Other 89.07 91.36 81.28 88.23 95.46 86.97 51.26 92.32 ________________________________________________________________________________________________________________________________ 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