A.12. Characteristics of Bank Loans to Farmers -- Large 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) 937,627 19,578 84,162 305,461 273,038 45,914 23,516 185,958 Number of loans 20,449 470 2,378 10,049 5,119 1,231 449 754 Weighted average maturity (months) 1 11.34 24.46 9.09 16.00 12.45 6.58 6.77 3.33 Weighted average repricing interval (months) 2 2.47 20.48 3.80 3.29 1.60 .70 2.36 .34 Weighted average risk rating 3 3.33 1.00 2.00 3.00 4.00 5.00 n.a. n.a. Weighted average interest rate 4 4.79 4.84 5.09 4.91 4.36 5.43 3.94 5.04 Standard error 5 .17 .52 .39 .27 .18 .51 .52 .34 Interquartile range 6 75th percentile 5.20 5.58 6.45 6.17 4.86 6.90 4.45 5.12 25th percentile 4.04 3.30 4.07 3.82 3.56 4.33 2.94 5.12 Purpose of loan Feeder livestock 4.43 5.10 5.40 4.66 4.01 4.09 4.70 n.a. Other livestock 4.77 3.34 4.70 5.07 4.75 5.32 n.a. 7.75 Other current operating expenses 7 4.95 5.53 5.51 5.28 4.35 5.75 4.17 5.78 Farm machinery and equipment 4.98 5.96 6.01 5.06 4.49 8.42 5.94 6.34 Farm real estate 5.37 4.87 7.02 5.69 4.94 6.00 5.64 n.a. Other 8 4.57 4.59 4.12 3.92 4.22 4.76 3.53 5.01 Share of total loan volume Features of loan Floating rates 87.01 36.86 43.12 89.41 93.40 96.08 81.18 97.34 Under commitment 87.01 57.90 77.36 79.82 91.57 81.74 97.23 99.57 Callable 15.54 51.14 51.72 21.13 8.07 2.39 2.84 2.06 Subject to prepayment penalty 3.41 23.51 .08 3.03 6.21 1.19 2.36 .01 Purpose of loan Feeder livestock 5.37 2.96 5.76 6.53 7.49 9.25 1.16 n.a. Other livestock 7.65 21.55 30.83 6.17 6.68 9.63 n.a. .03 Other current operating expenses 7 43.65 40.71 46.61 51.00 60.82 59.04 25.91 3.78 Farm machinery and equipment 5.94 3.91 1.87 9.86 7.55 2.41 4.43 .24 Farm real estate 2.97 24.74 1.17 3.92 3.07 .64 5.83 n.a. Other 8 34.42 6.14 13.75 22.51 14.40 19.03 62.67 95.96 Type of collateral Farm real estate 9.03 31.40 15.83 7.82 8.87 8.26 9.17 6.01 Other 87.22 58.23 79.37 86.36 88.04 90.35 83.10 93.76 ________________________________________________________________________________________________________________________________ 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