Indiana borrowers can use this ranking to identify banks with substantial commercial real estate exposure and compare the composition of their loan books. The 25 banks in the table reported $63.1 billion in total CRE loans, including $9.9 billion in construction and land loans, $17.0 billion in multifamily loans, $14.3 billion in owner occupied loans and $21.9 billion in investor nonfarm nonresidential loans. BestCRE ranks institutions by total CRE loans reported on schedule RC-C of the FDIC Call Reports as of June 30, 2026.
The ranking covers banks headquartered in Indiana, not every institution that lends on property in the state. Indiana had 87 headquartered banks with $67.9 billion in total CRE loans, up +4.7% year over year. The top five held 62.4% of that total. Banks headquartered elsewhere may still operate substantial Indiana branch networks and make loans locally. The FDIC Summary of Deposits 2026 provides the branch and deposit information used to identify those institutions. Borrowers should treat the table as a starting point for lender research rather than as evidence that any bank will approve a particular request.
Indiana banks ranked by total CRE loans
| Rank | Bank | Headquarters | Total CRE loans ($M) | Construction and land ($M) | Multifamily ($M) | Owner occupied ($M) | Change, 1 year | CRE share of loans |
|---|---|---|---|---|---|---|---|---|
| 1 | Old National Bank | Evansville, IN | $23,021 | $2,446 | $5,855 | $5,966 | +3.2% | 45.3% |
| 2 | Merchants Bank of Indiana | Carmel, IN | $6,783 | $1,995 | $3,329 | $746 | +3.8% | 39.1% |
| 3 | First Merchants Bank | Muncie, IN | $5,523 | $881 | $767 | $1,369 | +30.5% | 35.4% |
| 4 | Centier Bank | Whiting, IN | $3,830 | $613 | $696 | $640 | -7.5% | 47.2% |
| 5 | United Fidelity Bank, fsb | Evansville, IN | $3,164 | $4.1 | $3,089 | $28.9 | -3.3% | 92.1% |
| 6 | German American Bank | Jasper, IN | $3,034 | $505 | $502 | $834 | +4.6% | 51.1% |
| 7 | Lake City Bank | Warsaw, IN | $2,770 | $451 | $578 | $805 | +2.8% | 49.6% |
| 8 | Horizon Bank | Michigan City, IN | $2,383 | $229 | $400 | $688 | +7.1% | 48.0% |
| 9 | First Financial Bank, N.A. | Terre Haute, IN | $1,951 | $328 | $497 | $133 | +19.5% | 43.7% |
| 10 | First Internet Bank of Indiana | Fishers, IN | $1,512 | $444 | $67.9 | $125 | -23.3% | 39.2% |
| 11 | 1st Source Bank | South Bend, IN | $1,218 | $410 | $59.2 | $449 | +5.4% | 16.9% |
| 12 | First Farmers Bank & Trust Co. | Converse, IN | $1,110 | $240 | $206 | $236 | +11.9% | 43.0% |
| 13 | The National Bank of Indianapolis | Indianapolis, IN | $1,030 | $308 | $38.8 | $420 | +20.1% | 48.0% |
| 14 | Peoples Bank | Munster, IN | $855 | $77.7 | $180 | $262 | +3.5% | 56.8% |
| 15 | STAR Financial Bank | Fort Wayne, IN | $816 | $273 | $75.6 | $307 | +10.3% | 44.2% |
| 16 | First Bank Midwest | Frankfort, IN | $701 | $86.2 | $208 | $131 | +3.2% | 57.3% |
| 17 | Community First Bank of Indiana | Kokomo, IN | $514 | $160 | $31.0 | $165 | +12.1% | 63.4% |
| 18 | The Farmers Bank, Frankfort, Indiana | FRANKFORT, IN | $505 | $21.7 | $50.1 | $157 | +3.9% | 62.2% |
| 19 | State Bank | Brownsburg, IN | $431 | $90.3 | $52.4 | $134 | +8.4% | 60.7% |
| 20 | Jackson County Bank | Seymour, IN | $424 | $92.4 | $36.2 | $140 | +0.2% | 46.7% |
| 21 | Greenfield Banking Company | Greenfield, IN | $346 | $34.3 | $70.3 | $146 | -9.9% | 58.9% |
| 22 | First Harrison Bank | Corydon, IN | $329 | $66.1 | $57.2 | $76.7 | +3.9% | 48.4% |
| 23 | First State Bank of Middlebury | Middlebury, IN | $304 | $34.5 | $25.1 | $134 | +3.5% | 46.1% |
| 24 | FCN Bank, N.A. | Brookville, IN | $278 | $54.7 | $58.3 | $66.2 | +14.1% | 50.2% |
| 25 | The North Salem State Bank | North Salem, IN | $245 | $51.2 | $23.1 | $129 | +7.8% | 39.1% |
Source: FDIC Call Reports as of June 30, 2026 (schedule RC-C). Dollar figures in millions. Change, 1 year compares total CRE loans with June 30, 2025. Bank names link to each bank’s FDIC record. Table shows the top 25 of 87 banks headquartered in Indiana.
Old National Bank is the clear size leader at $23.0 billion in CRE loans and ranks 22 nationally. Its portfolio includes $8.8 billion of investor nonfarm nonresidential loans and $6.0 billion of owner occupied loans. Merchants Bank of Indiana has a different mix, with $3.3 billion in multifamily loans and $2.0 billion in construction and land loans within a $6.8 billion CRE book. United Fidelity Bank, fsb is even more concentrated in multifamily, reporting $3.1 billion against $3.2 billion of total CRE loans. Growth also varies widely. First Merchants Bank reported +30.5% year over year growth, while First Internet Bank of Indiana reported -23.3%. United Fidelity Bank, fsb has a 92.1% CRE share of loans and a 4.80x investor CRE to equity ratio, both high relative to the other banks in the table. By contrast, 1st Source Bank reports a 16.9% CRE share and a 0.61x ratio.
Out of state banks with branches in Indiana
| Bank | Headquarters state | Branches in Indiana | Deposits in Indiana ($M) | Total CRE loans, all states ($M) |
|---|---|---|---|---|
| JPMorgan Chase Bank, N.A. | Ohio | 120 | $27,030 | $179,847 |
| PNC Bank, N.A. | Delaware | 79 | $16,749 | $47,133 |
| Fifth Third Bank, N.A. | Ohio | 96 | $12,996 | $33,581 |
| The Huntington National Bank | Ohio | 38 | $6,217 | $37,932 |
| First Financial Bank | Ohio | 61 | $5,951 | $4,974 |
| BMO Bank, N.A. | Illinois | 49 | $5,067 | $28,802 |
| KeyBank, N.A. | Ohio | 34 | $3,924 | $17,153 |
| Bank of America, N.A. | North Carolina | 16 | $3,578 | $79,906 |
| Truist Bank | North Carolina | 1 | $3,314 | $51,018 |
| Regions Bank | Alabama | 40 | $2,569 | $16,257 |
| Flagstar Bank, N.A. | New York | 24 | $1,662 | $35,271 |
| WesBanco Bank, Inc. | West Virginia | 11 | $1,334 | $10,779 |
Source: FDIC Summary of Deposits 2026. Deposits and branches are for Indiana only; CRE loans are bank wide.
The ranking is a starting point for a commercial loan search
Total CRE loans provide a useful measure of a bank’s demonstrated appetite and capacity to hold commercial property debt. A larger book does not establish that a bank will finance a specific transaction, but it helps borrowers identify institutions with meaningful CRE activity. Portfolio mix adds another layer. Construction and land, multifamily, owner occupied and investor nonfarm nonresidential balances show the property and borrower categories in which each bank is most active.
Year over year change helps distinguish banks adding CRE loans from those reporting a smaller book. Concentration also matters because a bank with substantial exposure relative to its total loans or equity may be selective about additional transactions. Bank lending remains relationship driven and local, so borrowers should compare several institutions and discuss the property, sponsorship and requested structure directly. Benchmark rates provide market context: as of Oct 26, 2026, the Prime rate was 7.00%, SOFR was 3.89%, the 5 year Treasury was 4.78%, the 10 year Treasury was 4.96% and Fed funds was 3.88%.
Get your deal in front of the right lenders in Indiana
Tell BestCRE about the property, the loan amount and the timeline. We package the request and bring back term sheets from banks, debt funds, life companies, CMBS, agency and SBA lenders, so you compare more than the bank down the street.
Tell Us About Your DealHow BestCRE Capital WorksLoan mix and concentration reveal distinct areas of activity
The leading banks report materially different portfolio mixes. Old National Bank has $23.0 billion in total CRE loans spread across $2.4 billion in construction and land, $5.9 billion in multifamily, $6.0 billion in owner occupied and $8.8 billion in investor nonfarm nonresidential loans. Merchants Bank of Indiana reports $6.8 billion in total CRE loans, led by $3.3 billion in multifamily and $2.0 billion in construction and land. First Merchants Bank reports $5.5 billion, including $2.5 billion in investor nonfarm nonresidential loans and $1.4 billion in owner occupied loans.
Concentration measures should be read alongside portfolio size and mix. Centier Bank reports a 47.2% CRE share of loans and a 3.11x investor CRE to equity ratio. First Bank Midwest reports a 57.3% CRE share and a 4.18x ratio, while Community First Bank of Indiana reports a 63.4% share and a 3.40x ratio. Those ratios are high relative to several banks in the table. 1st Source Bank, by comparison, reports a 16.9% CRE share and a 0.61x ratio. These figures describe balance sheet exposure, not available terms or approval standards.
Out of state banks and nonbank lenders broaden the search
The headquarters screen excludes several large banks with Indiana branches. JPMorgan Chase Bank, N.A., headquartered in Ohio, has 120 Indiana branches and $27.0 billion of deposits in the state. PNC Bank, N.A., headquartered in Delaware, has 79 branches and $16.7 billion of Indiana deposits. Fifth Third Bank, N.A., headquartered in Ohio, has 96 branches and $13.0 billion of deposits. Their total CRE balances of $179.8 billion, $47.1 billion and $33.6 billion cover all states and should not be read as Indiana loan totals.
Borrowers can also compare bank options with debt funds, life companies, CMBS, agency and SBA lenders. Those sources do not appear in bank call reports, so this ranking is not a complete directory of available commercial property financing. Comparing several sources helps a borrower assess which lender category and institution fit the request. Local presence can matter in relationship driven bank lending, but headquarters, branch deposits and nationwide CRE balances measure different things. The FDIC Summary of Deposits 2026 identifies local branches and deposits, while FDIC Call Reports describe each bank’s consolidated loan book.
Frequently Asked Questions
What does BestCRE count as commercial real estate loans?
The ranking uses total commercial real estate loans reported in schedule RC-C of the FDIC Call Reports. The total combines construction and land, multifamily, owner occupied, and investor nonfarm nonresidential balances. Across the 25 ranked banks, those categories total $9.9 billion, $17.0 billion, $14.3 billion and $21.9 billion, respectively, within $63.1 billion of total CRE loans. The categories describe balances held by each bank as of June 30, 2026. They do not describe current pricing, underwriting terms or whether a particular property qualifies for financing.
Which Indiana bank has the largest commercial real estate loan book?
Old National Bank ranks first among banks headquartered in Indiana, with $23.0 billion in total CRE loans as of June 30, 2026. It also ranks 22 among the 4,167 banks included nationally, which collectively report $3.07 trillion in CRE loans. Old National Bank’s CRE book consists of $2.4 billion in construction and land loans, $5.9 billion in multifamily loans, $6.0 billion in owner occupied loans and $8.8 billion in investor nonfarm nonresidential loans. Its CRE balance increased +3.2% year over year.
Which Indiana headquartered banks reported the fastest CRE growth?
First Merchants Bank reported the largest positive year over year change among the ranked institutions at +30.5%, reaching $5.5 billion in total CRE loans. The National Bank of Indianapolis followed at +20.1% with $1.0 billion, while First Financial Bank, N.A. reported +19.5% with $2.0 billion. FCN Bank, N.A. reported +14.1%, Community First Bank of Indiana reported +12.1% and First Farmers Bank & Trust Co. reported +11.9%. Growth indicates that reported balances increased, but it does not establish the availability or terms of a new loan.
Which Indiana bank has the largest multifamily loan balance?
Old National Bank reports the largest multifamily balance in the ranking at $5.9 billion. Merchants Bank of Indiana follows with $3.3 billion, while United Fidelity Bank, fsb reports $3.1 billion. The mix differs substantially among them. Old National Bank has $23.0 billion in total CRE loans, Merchants Bank of Indiana has $6.8 billion and United Fidelity Bank, fsb has $3.2 billion. Multifamily accounts for nearly all of the reported CRE book at United Fidelity Bank, fsb, while the other two institutions report larger balances across additional CRE categories.
How current is the Indiana commercial real estate lender ranking?
The loan balances, portfolio mix, growth measures and concentration figures come from FDIC Call Reports as of June 30, 2026. Branch and deposit information comes from the FDIC Summary of Deposits 2026. Market benchmarks are more recent: as of Oct 26, 2026, the Prime rate was 7.00%, SOFR was 3.89%, the 5 year Treasury was 4.78%, the 10 year Treasury was 4.96% and Fed funds was 3.88%. The benchmark figures provide rate context but are not quoted loan rates from any bank in the ranking.
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BestCRE rankings are editorially independent and built only from public regulatory filings; no bank pays for placement. Call report figures describe loans held on each bank’s balance sheet and do not show loan terms, rates or current appetite. BestCRE is not a lender and does not make loans. Benchmark rates are informational, not quotes. See our Legal Disclaimer and Compensation Disclosure.