A.12. Characteristics of Bank Loans to Farmers -- Large Farm Lenders, by Risk Rating, February 2-6, 2004
Percent except as noted
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Loan characteristic                               All    Minimal    Low    Moderate  Acceptable  Special  Not rated  Not reported
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Volume of loans (thousands of dollars)          919,804   33,059  103,734   288,784     244,812   55,706     91,205       102,505
Number of loans                                  15,068      480    1,677     6,021       5,056      878        541           416
Weighted average maturity (months) 1              18.62    57.14    17.72     16.35       12.57    12.58      37.18         15.89
Weighted average repricing interval (months) 2     3.00    10.69     5.59      2.90        2.09      .41       3.40          1.42
Weighted average risk rating 3                     3.26     1.00     2.00      3.00        4.00     5.00       n.a.          n.a.

Weighted average interest rate 4                   4.69     5.37     4.67      4.81        4.59     4.73       3.99          5.00
  Standard error 5                                  .13      .24      .38       .23         .17      .50        .58           .36
  Interquartile range 6
    75th percentile                                5.51     6.17     5.50      6.00        5.38     5.61       5.10          5.12
    25th percentile                                3.75     4.55     3.56      3.80        4.06     3.30       2.37          5.12
  Purpose of loan
    Feeder livestock                               4.43     5.77     3.64      5.09        4.45     4.00       6.30          5.93
    Other livestock                                4.69     5.42     5.21      4.38        3.86     3.73       5.76          6.14
    Other current operating expenses 7             4.89     5.18     4.97      5.14        4.73     5.04       3.88          5.50
    Farm machinery and equipment                   4.46     n.a.     4.78      4.32        5.26     3.35       4.53          5.66
    Farm real estate                               5.65     5.22     6.28      5.85        3.92     n.a.       6.20          6.25
    Other 8                                        4.33     2.96     4.69      4.19        4.39     4.03       2.90          4.93

Share of total loan volume
  Features of loan
    Floating rates                                87.68    65.09    67.33     86.11       91.86    99.07      99.29         93.46
    Under commitment                              84.99    55.75    87.14     82.38       88.65    78.29      81.25         97.85
    Callable                                      18.81    57.27    40.27     23.86        9.37     3.36       8.86         10.27
    Subject to prepayment penalty                  7.21    13.49      .01     11.60        1.22      .04      27.79          n.a.
  Purpose of loan
    Feeder livestock                               6.72    29.73    23.63      2.82        7.27     1.85        .29           .26
    Other livestock                                5.50     6.12    13.04      4.85        4.72     4.22       7.65           .19
    Other current operating expenses 7            46.31    31.33    37.48     53.32       59.60    72.14      32.81          6.60
    Farm machinery and equipment                   7.11     n.a.     4.72     16.51        2.82     3.48       3.39           .86
    Farm real estate                               4.69    32.44     3.11      3.36        1.81     n.a.      14.72          1.56
    Other 8                                       29.67      .38    18.02     19.15       23.78    18.31      41.15         90.54
  Type of collateral
    Farm real estate                               9.45    24.23     6.87      9.02        7.44    17.25       3.92         14.01
    Other                                         81.95    73.83    91.03     71.28       87.61    82.46      88.90         85.42
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   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.

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