Wisconsin’s largest locally headquartered CRE bank lenders vary substantially in portfolio size, property mix, growth and concentration. The 25 banks in the ranking hold $40.4 billion in total commercial real estate loans, including $6.4 billion of construction and land loans, $10.3 billion of multifamily loans, $9.5 billion of owner occupied loans and $14.2 billion of investor nonfarm nonresidential loans. BestCRE ranks the institutions by total CRE loans reported on FDIC Call Report schedule RC-C as of June 30, 2026. The figures describe loans already held on each bank’s balance sheet rather than commitments available to new borrowers.
The ranking covers banks headquartered in Wisconsin. The state had 151 headquartered banks with $57.1 billion in combined CRE loans, up +13.8% year over year. The top five accounted for 39.3% of that total. Banks headquartered elsewhere are excluded from the ranking even when they operate Wisconsin branches and hold significant deposits in the state. That distinction matters because a borrower may encounter both local institutions and national or regional banks during a financing search. The FDIC Summary of Deposits 2026 provides the branch and deposit information used to identify the out of state banks with a local presence.
Wisconsin banks ranked by total CRE loans
| Rank | Bank | Headquarters | Total CRE loans ($M) | Construction and land ($M) | Multifamily ($M) | Owner occupied ($M) | Change, 1 year | CRE share of loans |
|---|---|---|---|---|---|---|---|---|
| 1 | Associated Bank, N.A. | Green Bay, WI | $10,594 | $2,546 | $2,463 | $1,575 | +25.8% | 29.0% |
| 2 | Nicolet National Bank | Green Bay, WI | $4,900 | $732 | $737 | $1,675 | +89.8% | 43.5% |
| 3 | Johnson Bank | Racine, WI | $2,664 | $313 | $807 | $633 | -1.3% | 49.5% |
| 4 | Bank First, N.A. | Manitowoc, WI | $2,227 | $242 | $452 | $828 | +24.8% | 49.2% |
| 5 | First Business Bank | Madison, WI | $2,054 | $235 | $653 | $404 | +12.9% | 57.3% |
| 6 | One Community Bank | Oregon, WI | $1,662 | $300 | $334 | $338 | +18.9% | 74.6% |
| 7 | Bank Five Nine | Oconomowoc, WI | $1,603 | $253 | $26.1 | $1,159 | +10.9% | 78.0% |
| 8 | Lake Ridge Bank | Middleton, WI | $1,491 | $186 | $522 | $329 | +2.5% | 60.8% |
| 9 | WaterStone Bank, SSB | Wauwatosa, WI | $1,174 | $67.9 | $782 | $108 | +5.1% | 64.0% |
| 10 | North Shore Bank | Brookfield, WI | $986 | $45.8 | $832 | $56.4 | +11.6% | 47.7% |
| 11 | CCFBank, N.A. | Altoona, WI | $953 | $66.1 | $253 | $256 | +4.0% | 68.9% |
| 12 | Tri City National Bank | Oak Creek, WI | $930 | $52.2 | $263 | $151 | +0.7% | 79.8% |
| 13 | National Exchange Bank and Trust | Fond Du Lac, WI | $928 | $148 | $96.5 | $138 | -7.4% | 54.6% |
| 14 | The Park Bank | Madison, WI | $908 | $71.8 | $305 | $132 | -0.3% | 69.5% |
| 15 | National Bank of Commerce | Superior, WI | $894 | $179 | $158 | $190 | +2.6% | 52.0% |
| 16 | Town Bank, N.A. | Hartland, WI | $860 | $167 | $241 | $158 | -0.4% | 24.5% |
| 17 | Bank of Wisconsin Dells | Wisconsin Dells, WI | $718 | $176 | $29.9 | $173 | +7.0% | 85.0% |
| 18 | River Bank | Stoddard, WI | $708 | $41.8 | $348 | $83.8 | +3.8% | 83.1% |
| 19 | Horicon Bank | Horicon, WI | $683 | $107 | $65.3 | $266 | +7.1% | 49.7% |
| 20 | Peoples State Bank | Wausau, WI | $670 | $84.9 | $68.1 | $282 | +3.1% | 58.3% |
| 21 | IncredibleBank | Wausau, WI | $614 | $64.8 | $63.0 | $243 | +3.2% | 38.4% |
| 22 | Waukesha State Bank | Waukesha, WI | $598 | $200 | $130 | $185 | +5.9% | 49.3% |
| 23 | Citizens Bank | Mukwonago, WI | $551 | $69.0 | $72.6 | $105 | +0.3% | 72.6% |
| 24 | DMB Community Bank | Madison, WI | $541 | $1.5 | $446 | $6.2 | +6.9% | 81.5% |
| 25 | Bankers’ Bank | Madison, WI | $509 | $68.8 | $186 | $40.1 | -13.2% | 45.4% |
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 151 banks headquartered in Wisconsin.
Associated Bank, N.A. leads with $10.6 billion in CRE loans and +25.8% year over year growth. Nicolet National Bank ranks second at $4.9 billion after +89.8% growth, while Johnson Bank ranks third with $2.7 billion and a -1.3% change. Portfolio mixes differ sharply. Associated Bank reports $4.0 billion of investor nonfarm nonresidential loans, while Bank Five Nine holds $1.2 billion of owner occupied loans within a $1.6 billion CRE book. North Shore Bank’s $985.8 million portfolio includes $831.6 million of multifamily loans. Concentration also varies. CRE represents 29.0% of loans at Associated Bank and 85.0% at Bank of Wisconsin Dells. Investor CRE to equity ranges from 1.38x at National Exchange Bank and Trust to 6.02x at DMB Community Bank. A high ratio relative to peers can indicate that a bank will be selective about additional exposure.
Out of state banks with branches in Wisconsin
| Bank | Headquarters state | Branches in Wisconsin | Deposits in Wisconsin ($M) | Total CRE loans, all states ($M) |
|---|---|---|---|---|
| U.S. Bank, N.A. | Ohio | 90 | $33,773 | $50,718 |
| BMO Bank, N.A. | Illinois | 145 | $22,000 | $28,802 |
| JPMorgan Chase Bank, N.A. | Ohio | 65 | $13,682 | $179,847 |
| Wells Fargo Bank, N.A. | South Dakota | 30 | $4,087 | $121,623 |
| Old National Bank | Indiana | 31 | $3,806 | $23,021 |
| PNC Bank, N.A. | Delaware | 24 | $1,884 | $47,133 |
| UMB Bank, N.A. | Missouri | 11 | $1,147 | $15,713 |
| The Huntington National Bank | Ohio | 15 | $945 | $37,932 |
| First-Citizens Bank & Trust Company | North Carolina | 7 | $528 | $38,808 |
| First American Bank | Illinois | 3 | $423 | $1,232 |
| Frandsen Bank & Trust | Minnesota | 4 | $388 | $982 |
| First Mid Bank & Trust, N.A. | Illinois | 3 | $359 | $3,676 |
Source: FDIC Summary of Deposits 2026. Deposits and branches are for Wisconsin only; CRE loans are bank wide.
Portfolio evidence can guide a focused loan search
A large CRE book can indicate appetite and balance sheet capacity to hold commercial property loans. The property categories then show where that activity has occurred. Borrowers can compare construction and land, multifamily, owner occupied, and investor nonfarm nonresidential balances with the financing need at hand. Growth adds another signal: a rising portfolio identifies a bank that has been adding CRE loans, while a decline shows that reported balances have contracted. These measures help produce a practical call list, but they do not establish whether a bank will approve a specific request.
Concentration should be read alongside size and growth. CRE share of loans shows how important commercial property credit is within the overall loan portfolio. Investor CRE to equity measures construction, multifamily and non owner occupied nonfarm loans against total equity capital. A comparatively high ratio may signal greater selectivity even when the bank has a substantial CRE book. Bank lending remains relationship driven and local, so borrowers should contact several institutions, describe the property and requested structure consistently, and compare the responses rather than treating rank alone as a lending decision.
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Associated Bank, N.A. has the largest balance in every reported category among the ranked banks, including $2.5 billion in construction and land, $2.5 billion in multifamily, $1.6 billion in owner occupied, and $4.0 billion in investor nonfarm nonresidential loans. Other institutions show more concentrated mixes. WaterStone Bank, SSB reports $781.9 million of multifamily loans within a $1.2 billion CRE portfolio. DMB Community Bank reports $445.7 million of multifamily loans and only $1.5 million of construction and land loans within its $540.9 million total.
Owner occupied lending is especially prominent at Bank Five Nine, where the category accounts for $1.2 billion of a $1.6 billion CRE book. Nicolet National Bank reports $1.7 billion of owner occupied loans and $1.8 billion of investor nonfarm nonresidential loans. Concentration measures add context to those balances. One Community Bank reports CRE equal to 74.6% of loans and investor CRE to equity of 3.98x. First Business Bank reports 57.3% and 3.68x, respectively. These figures describe portfolio composition and relative exposure, not current credit terms or approval criteria.
Wisconsin borrowers have additional bank and nonbank options
Out of state banks can be important local competitors even though they are not ranked with Wisconsin headquartered institutions. U.S. Bank, N.A., headquartered in Ohio, has 90 Wisconsin branches and $33.8 billion of deposits in the state. BMO Bank, N.A., headquartered in Illinois, has 145 branches and $22.0 billion of Wisconsin deposits. JPMorgan Chase Bank, N.A. has 65 branches and $13.7 billion of deposits in the state. Their total CRE loan figures, including $50.7 billion for U.S. Bank and $179.8 billion for JPMorgan Chase Bank, cover all states rather than Wisconsin alone.
Borrowers can also compare banks with debt funds, life companies, CMBS lenders, agency lenders and SBA lenders. These nonbank sources do not appear in bank call reports, so this ranking cannot measure their activity or availability. Each lender category evaluates transactions under its own requirements, and a bank’s reported portfolio does not reveal the terms it may offer on a new request. Comparing several sources helps borrowers assess fit across property type, relationship requirements and proposed financing structure while keeping the distinction between reported balance sheet history and a current lending decision clear.
Frequently Asked Questions
Where does the Wisconsin CRE lender ranking come from?
BestCRE uses FDIC Call Reports, formally called Reports of Condition and Income, with loan balances taken from schedule RC-C as of June 30, 2026. The ranking orders Wisconsin headquartered banks by total commercial real estate loans. FDIC Summary of Deposits 2026 information is used separately to identify banks headquartered outside Wisconsin that maintain branches and deposits in the state. Call reports provide standardized balance sheet categories, making comparisons possible across institutions, but they do not disclose property specific quotes, underwriting decisions or whether a lender is accepting a particular type of application.
How much CRE lending is held by Wisconsin headquartered banks?
The 151 banks headquartered in Wisconsin report $57.1 billion in total commercial real estate loans as of June 30, 2026. Their combined CRE balance increased +13.8% year over year. The 25 institutions shown in the ranked table account for $40.4 billion, while the top five hold 39.3% of the statewide total for headquartered banks. These totals measure loans held on reported bank balance sheets. They do not include debt funds, life companies, CMBS lenders, agency lenders or SBA lenders, and they do not assign the loans to particular properties within Wisconsin.
Which Wisconsin bank had the strongest CRE growth?
Nicolet National Bank reports the largest positive year over year change among the ranked banks at +89.8%, bringing its total CRE portfolio to $4.9 billion as of June 30, 2026. Associated Bank, N.A. reports +25.8% growth and Bank First, N.A. reports +24.8%. Growth shows which balance sheets added CRE loans over the reporting period, but it does not identify the source of the change or establish that the same pace will continue. Borrowers should treat growth as one screening measure and confirm current interest directly with each institution.
How does Wisconsin’s largest CRE bank rank nationally?
Associated Bank, N.A. is the largest Wisconsin headquartered institution in this ranking, with $10.6 billion in total CRE loans and a national rank of 48. Nicolet National Bank has a national rank of 108 with $4.9 billion, while Johnson Bank ranks 178 nationally with $2.7 billion. National rank places each institution within the broader group of 4,167 banks, which collectively report $3.07 trillion of CRE loans. It measures portfolio size across bank headquarters and does not show how much of a multistate institution’s lending occurred in Wisconsin.
Do the benchmark rates show what Wisconsin banks will charge?
No. The benchmark rates provide market context, not quotes from the ranked banks. As of Oct 26, 2026, the Prime rate is 7.00%, SOFR is 3.89%, the 5 year Treasury is 4.78%, the 10 year Treasury is 4.96%, and Fed funds is 3.88%. A bank’s call report does not disclose the rate, spread, fees or other terms it would apply to a new commercial real estate loan. Borrowers need current proposals from individual lenders to compare actual pricing and structure for a specific property and transaction.
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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.