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