U.S. Bank, N.A., legally U.S. BANK NATIONAL ASSOCIATION, is a large national bank headquartered in Cincinnati, Ohio. Established in 1863 and held by U S Bcorp, it reported $705.6 billion in total assets and $413.3 billion in total loans as of June 30, 2026. Its $50.7 billion commercial real estate portfolio represented 12.3% of total loans. That scale places the bank among the largest CRE lenders in the country, with a national rank of 5 of 4,167 and a state rank of 2 of 152 banks headquartered in Ohio. The FDIC identifies the institution under certificate 6548.
For borrowers, U.S. Bank combines a substantial balance sheet with a broad stated mandate. The bank says it finances commercial real estate developers, owners, operators, investors and lenders through acquisition, construction, bridge and term loans, along with subscription, warehouse and agency credit lines and corporate facilities. Its stated property coverage includes multifamily, industrial, office, hospitality and retail. The bank also offers owner occupied and investment property loans for office, medical, industrial, warehouse, multifamily, retail and mixed use properties, including purchase, remodeling and refinancing transactions. Actual availability depends on the property, sponsor, structure, market and broader banking relationship.
U.S. Bank holds a $50.7 billion CRE portfolio led by investor property loans
The FDIC reported $50.7 billion of commercial real estate loans at U.S. Bank as of June 30, 2026. Investor nonfarm nonresidential loans were the largest component at $17.9 billion, representing 35.2% of CRE loans and ranking 4 nationally within that segment. Multifamily was next at $14.5 billion, or 28.5%, with a national segment rank of 5. Together, these categories show that income producing real estate forms the core of the bank’s reported CRE exposure. The figures describe loans held on the balance sheet, however, and do not establish which property types or structures the bank will approve for a new borrower.
Construction and land loans totaled $9.4 billion, equal to 18.5% of the CRE portfolio and ranking 4 nationally in that segment. Owner occupied CRE accounted for $9.0 billion, or 17.8%, and ranked 11 nationally. This mix gives U.S. Bank meaningful exposure across development, investment and operating company real estate rather than dependence on a single lending category. The bank’s investor CRE to equity ratio was 0.61x, while CRE loans overall represented 12.3% of total loans. Those measures provide useful context for concentration, but they should not be read as advertised underwriting limits, pricing guidance or a commitment to expand any category.
| Segment | Loans ($M) | Share of CRE | National rank |
|---|---|---|---|
| Construction and land | $9,378 | 18.5% | #4 |
| Multifamily | $14,458 | 28.5% | #5 |
| Owner occupied | $9,005 | 17.8% | #11 |
| Investor nonfarm nonresidential | $17,877 | 35.2% | #4 |
Source: FDIC Call Report as of June 30, 2026, schedule RC-C. FDIC record for U.S. Bank, N.A..
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U.S. Bank’s CRE loans rose from $36.4 billion at June 30, 2021 to $50.7 billion at June 30, 2026, a reported change of +39.4%. The path was uneven. Balances reached $37.6 billion in 2022 and $51.5 billion in 2023, then moved to $49.4 billion in 2024 and $46.0 billion in 2025 before increasing again in 2026. The latest year over year change was +10.2%. At December 31, 2025, U.S. Bancorp said multifamily represented 38% and office represented 9% of the portfolio by property class. It also reported that office properties continued to pressure CRE credit quality in 2025, with office allowance coverage at 9% at year end.
| June 30 | Total CRE loans ($M) | Change |
|---|---|---|
| 2021 | $36,394 | |
| 2022 | $37,571 | +3.2% |
| 2023 | $51,541 | +37.2% |
| 2024 | $49,446 | -4.1% |
| 2025 | $46,023 | -6.9% |
| 2026 | $50,718 | +10.2% |
The bank states a broad CRE mandate but public deal disclosure is limited
BestCRE found no publicly announced CRE financings for 2025 or 2026, which is common for banks that do not publicize individual deals. The absence of announcements should not be interpreted as an absence of lending. U.S. Bank says it provides acquisition, construction, bridge and term financing to developers, owners, operators, investors and lenders. It also identifies subscription, warehouse and agency credit lines and corporate facilities within its CRE capabilities. For business banking customers, the bank describes loans for owner occupied and investment properties, covering purchase, remodeling and refinancing transactions. These statements establish a broad product scope, but they do not specify current rates, terms, leverage parameters or closing timelines.
U.S. Bank emphasizes strong sponsors, conservative leverage, high quality assets and broader banking relationships. In western markets, it says its focus is on large and institutional real estate sponsors and describes its approach as active but highly selective. The bank also requires business plans that remain viable under stress. In 2026, U.S. Bank integrated Built’s construction lending platform to accelerate draws and inspections and increase its capacity to manage commercial construction loans. That operational change supports construction administration, but it does not by itself indicate that a particular project will qualify or close within a stated period.
A broad branch network supports national borrowers with strong sponsor profiles
U.S. Bank operated 2097 domestic offices across 29 states. Its largest reported branch presence was California, with 563 branches and $115.1 billion in deposits. Other important markets included Ohio with 161 branches and $103.6 billion in deposits, Washington with 136 branches and $23.1 billion, Missouri with 129 branches and $24.2 billion, Oregon with 114 branches and $22.2 billion, Minnesota with 105 branches and $106.5 billion, Colorado with 102 branches and $19.6 billion, and Wisconsin with 90 branches and $33.8 billion. Branch distribution is not the same as CRE origination coverage, but it shows where the bank has substantial operating and deposit relationships.
At $50.7 billion of CRE loans, U.S. Bank is close in scale to Truist Bank at $51.0 billion and PNC Bank, N.A. at $47.1 billion. Its portfolio is larger than those of Manufacturers and Traders Trust Company at $34.7 billion, TD Bank, N.A. and Valley National Bank at $30.4 billion, and Citizens Bank, N.A. at $26.9 billion. The strongest fit is likely a borrower with a high quality asset, a durable stressed business plan, conservative leverage and interest in a broader banking relationship. Large and institutional sponsors are particularly aligned with the bank’s stated western market focus.
| State | Branches | Deposits ($M) |
|---|---|---|
| California | 563 | $115,115 |
| Minnesota | 105 | $106,537 |
| Ohio | 161 | $103,646 |
| Wisconsin | 90 | $33,773 |
| Missouri | 129 | $24,183 |
| Washington | 136 | $23,123 |
| Oregon | 114 | $22,237 |
| Colorado | 102 | $19,628 |
Peer banks with a similar CRE book
| Bank | Headquarters | Total CRE loans ($M) | Change, 1 year |
|---|---|---|---|
| PNC Bank, N.A. | Wilmington, DE | $47,133 | +14.3% |
| Citizens Bank, N.A. | Providence, RI | $26,949 | -7.4% |
| TD Bank, N.A. | Wilmington, DE | $30,408 | -3.6% |
| Valley National Bank | Passaic, NJ | $30,353 | +5.2% |
| Truist Bank | Charlotte, NC | $51,018 | +4.9% |
| Manufacturers and Traders Trust Company | Buffalo, NY | $34,665 | +0.6% |
Frequently Asked Questions
Does U.S. Bank make commercial real estate loans?
Yes. U.S. Bank makes commercial real estate loans for acquisitions, construction, bridge and term financing. It also describes subscription, warehouse and agency credit lines and corporate facilities for CRE clients. The FDIC reported a $50.7 billion CRE portfolio as of June 30, 2026. Eligible property categories identified by the bank include multifamily, industrial, office, hospitality, retail, medical, warehouse and mixed use. Approval and structure depend on underwriting, the sponsor, the asset and the proposed business plan.
How large is U.S. Bank’s commercial real estate portfolio?
U.S. Bank held $50.7 billion in commercial real estate loans as of June 30, 2026. That amount represented 12.3% of its $413.3 billion total loan portfolio and ranked the bank 5 of 4,167 U.S. banks by CRE loans. Investor nonfarm nonresidential was the largest CRE segment at $17.9 billion, followed by multifamily at $14.5 billion. These FDIC balances measure loans held by the bank and do not indicate the amount available for new originations.
What types of commercial properties does U.S. Bank finance?
U.S. Bank identifies multifamily, industrial, office, hospitality and retail among its CRE property types. Its business banking materials also include medical, warehouse and mixed use properties, for both owner occupied and investment purposes. The reported portfolio supports that breadth: multifamily loans totaled $14.5 billion, owner occupied CRE totaled $9.0 billion, and construction and land loans totaled $9.4 billion as of June 30, 2026. The bank does not state that every property or transaction within these categories will qualify.
Is U.S. Bank active in construction lending?
Yes. U.S. Bank reported $9.4 billion in construction and land loans as of June 30, 2026, equal to 18.5% of its CRE portfolio and ranking 4 nationally in that segment. The bank states that construction financing is part of its commercial real estate offering. It also integrated Built’s construction lending platform in 2026 to accelerate draws and inspections and expand its capacity to manage commercial construction loans. Borrowers should still expect project, sponsor and stress testing review under the bank’s stated selective approach.
Which borrowers are the best fit for a U.S. Bank CRE loan?
Borrowers with strong sponsorship, high quality assets, conservative leverage and a durable business plan appear most aligned with U.S. Bank’s stated priorities. The bank also emphasizes broader banking relationships. In western markets, it specifically focuses on large and institutional real estate sponsors and describes itself as highly selective. Its scale can suit substantial transactions: U.S. Bank held $50.7 billion in CRE loans as of June 30, 2026. Smaller borrowers may still fit its owner occupied or investment property programs, but eligibility depends on underwriting.
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BestCRE lender profiles are editorially independent and built from public regulatory filings and public announcements; no bank pays for a profile. Call report figures describe loans held on the bank’s balance sheet and do not show current terms or appetite. BestCRE is not a lender and is not affiliated with U.S. Bank. See our Legal Disclaimer and Compensation Disclosure.