A.13. Characteristics of Bank Loans to Farmers -- Small and Mid-sized Farm Lenders, by Risk Rating, February 2-6, 2004
Percent except as noted
_________________________________________________________________________________________________________________________________

Loan characteristic                               All    Minimal    Low    Moderate  Acceptable  Special  Not rated  Not reported
_________________________________________________________________________________________________________________________________

Volume of loans (thousands of dollars)          670,394  106,555  117,365   172,438     104,022    9,839     59,528       100,647
Number of loans                                  18,629    2,750    4,000     5,316       1,749      351        665         3,798
Weighted average maturity (months) 1              21.47    16.98    18.61     21.31       32.04    51.89      21.06         16.34
Weighted average repricing interval (months) 2    10.00     7.94     5.86     11.82       15.80    18.94       9.01          7.63
Weighted average risk rating 3                     2.59     1.00     2.00      3.00        4.00     5.00       n.a.          n.a.

Weighted average interest rate 4                   6.42     6.21     6.15      6.32        6.68     7.76       6.52          6.63
  Standard error 5                                  .10      .36      .17       .22         .25      .42        .34           .20
  Interquartile range 6
    75th percentile                                7.00     7.25     6.65      6.87        7.00     8.75       6.75          7.20
    25th percentile                                5.95     5.11     5.57      5.95        6.00     7.50       6.25          6.00
  Purpose of loan
    Feeder livestock                               6.35     5.35     6.31      6.18        6.85     n.a.       n.a.          6.94
    Other livestock                                6.93     4.89     n.a.      7.30        7.41     n.a.       7.68          7.10
    Other current operating expenses 7             6.38     6.51     6.03      6.25        6.60     7.76       6.78          6.13
    Farm machinery and equipment                   6.48     5.87     6.25      6.80        7.10     n.a.       6.26          6.64
    Farm real estate                               6.24     4.93     6.30      6.46        6.27     n.a.       6.51          7.00
    Other 8                                        5.95     3.21     5.42      6.22        n.a.     n.a.       4.17          6.14

Share of total loan volume
  Features of loan
    Floating rates                                43.23    43.21    72.01     27.34       30.07    67.54      37.97         51.24
    Under commitment                              50.88    69.73    60.75     69.00       15.06    36.75       6.53         53.00
    Callable                                      28.97    27.07    14.16     38.49       23.80    19.17       4.63         52.63
    Subject to prepayment penalty                  1.53     n.a.     5.90       .57         .72     n.a.       n.a.          1.62
  Purpose of loan
    Feeder livestock                               6.33    10.24     2.75      4.50         .07     n.a.       n.a.         20.33
    Other livestock                                8.62     3.53    11.36      5.08        4.51     n.a.        .23         26.90
    Other current operating expenses 7            67.50    77.38    67.66     74.19       76.97   100.00      56.23         39.06
    Farm machinery and equipment                   9.76     4.05    10.88      2.62       12.84     n.a.      38.71          7.40
    Farm real estate                               4.34     3.98     6.14      3.50        5.60     n.a.       2.90          4.00
    Other 8                                        3.46      .82     1.21     10.11        n.a.     n.a.       1.94          2.31
  Type of collateral
    Farm real estate                              17.88     2.73    29.62     16.70       30.40    78.62       2.90         12.26
    Other                                         74.28    91.32    69.74     81.96       66.86    21.38      49.55         75.86
_________________________________________________________________________________________________________________________________
   Note. Most small and mid-sized farm lenders that reported loans to farmers had less than $25 million in farm loans.
   For explanation of footnotes, see table A.8.
   n.a. Not available.

18