These banks all reported apartment loans on their most recent federal call report, and all have at least one branch in Indiana. Banks are the most common source of multifamily financing — five units and up, stabilised or value-add — and most lend close to their branches, so a lender with offices near your building is usually a better first call than a bigger name without them. Expect a bank to want recourse and, usually, a banking relationship; the capital guide compares the alternatives.
Banks Based in Indiana, Largest Multifamily Books First
25 of 62 qualifying banks are headquartered in Indiana. These are the lenders whose whole business is this market.
| # | Institution | Multifamily book | Share of investor CRE | Branches in IN | Contact |
|---|---|---|---|---|---|
| 1 | Old National Bank | $5.86bn | 34.3% | 97 | Contact available |
| 2 | United Fidelity Bank, fsb | $3.09bn | 98.5% | 9 | Contact available |
| 3 | First Merchants Bank | $767m | 18.5% | 90 | Contact available |
| 4 | Centier Bank | $696m | 21.8% | 63 | Contact available |
| 5 | Lake City Bank | $578m | 29.4% | 57 | Contact available |
| 6 | German American Bank | $502m | 22.8% | 46 | Contact available |
| 7 | First Financial Bank, N.A. (Terre Haute, IN) | $497m | 27.3% | 21 | Contact available |
| 8 | Horizon Bank (Michigan City, IN) | $400m | 23.6% | 51 | Contact available |
| 9 | First Bank Midwest | $208m | 36.4% | 20 | Contact available |
| 10 | First Farmers Bank & Trust Co. | $206m | 23.6% | 32 | Contact available |
| 11 | Peoples Bank (Munster, IN) | $180m | 30.4% | 13 | Contact available |
| 12 | STAR Financial Bank | $76m | 14.8% | 37 | Contact available |
| 13 | Greenfield Banking Company | $70m | 35.0% | 8 | Contact available |
| 14 | First Internet Bank | $68m | 4.9% | 1 | Contact available |
| 15 | 1st Source Bank | $59m | 7.7% | 72 | Contact available |
| 16 | FCN Bank, National Association | $58m | 27.5% | 5 | Contact available |
| 17 | Freedom Bank | $58m | 47.4% | 4 | — |
| 18 | First Harrison Bank | $57m | 22.7% | 12 | Contact available |
| 19 | First Bank of Berne | $54m | 51.4% | 6 | Contact available |
| 20 | State Bank (Brownsburg, IN) | $52m | 17.7% | 11 | Contact available |
| 21 | The New Washington State Bank | $46m | 27.7% | 12 | Contact available |
| 22 | Alliance Bank | $40m | 31.9% | 7 | Contact available |
| 23 | The National Bank of Indianapolis | $39m | 6.4% | 13 | Contact available |
| 24 | Jackson County Bank | $36m | 12.8% | 15 | Contact available |
| 25 | The Hometown Savings Bank | $33m | 37.6% | 7 | Contact available |
National Lenders With Branches in Indiana
25 of 44 qualifying banks are headquartered elsewhere but have offices here. The multifamily figure is their national book, so read it alongside the branch count — a large book behind a handful of local offices is a different proposition from a bank with a branch network in the state.
| # | Institution | Multifamily book | Share of investor CRE | Branches in IN | Contact |
|---|---|---|---|---|---|
| 1 | JPMorgan Chase Bank, National Association | $107.32bn | 64.9% | 124 | Contact available |
| 2 | Flagstar Bank | $26.92bn | 82.2% | 24 | Contact available |
| 3 | PNC Real Estate | $14.98bn | 40.8% | 80 | Contact available |
| 4 | US Bank | $14.46bn | 34.7% | 8 | Contact available |
| 5 | Truist | $8.65bn | 26.0% | 1 | Contact available |
| 6 | Bank of America | $8.46bn | 15.3% | 16 | Contact available |
| 7 | KeyBank | $5.44bn | 38.5% | 34 | Contact available |
| 8 | Huntington National Bank | $4.88bn | 19.9% | 39 | Contact available |
| 9 | Pinnacle Bank (Tennessee) | $4.86bn | 17.8% | 1 | Contact available |
| 10 | Fifth Third Bank | $4.14bn | 19.2% | 96 | Contact available |
| 11 | Regions Bank | $3.88bn | 35.6% | 41 | Contact available |
| 12 | Merchants Bank of Indiana | $3.33bn | 55.1% | 8 | Contact available |
| 13 | BMO Bank | $3.16bn | 15.3% | 49 | Contact available |
| 14 | WesBanco Bank | $1.74bn | 22.5% | 11 | Contact available |
| 15 | Busey Bank | $1.09bn | 21.6% | 1 | Contact available |
| 16 | Community Bank, National Association (Canton, NY) | $952m | 33.4% | 1 | Contact available |
| 17 | First Financial Bank (OH) | $809m | 20.7% | 63 | Contact available |
| 18 | First Business Bank | $653m | 39.6% | 1 | Contact available |
| 19 | Stock Yards Bank & Trust Company | $547m | 19.3% | 13 | Contact available |
| 20 | Northwest Bank (Warren, PA) | $466m | 23.8% | 20 | Contact available |
| 21 | Republic Bank | $377m | 26.7% | 3 | Contact available |
| 22 | Civista Bank | $307m | 20.6% | 8 | Contact available |
| 23 | Providence Bank & Trust | $219m | 35.5% | 3 | Contact available |
| 24 | CFBank | $182m | 24.2% | 1 | Contact available |
| 25 | The Farmers & Merchants State Bank | $151m | 18.5% | 14 | Contact available |
What this list is, and what it leaves out
A reported balance is not a credit box. Every bank here held apartment loans on 30 June 2026. That is evidence they lend on multifamily — better evidence than a marketing page, because it is what they actually hold — but it is not a commitment to lend on your deal, at your size, in your submarket.
More lenders exist than this page lists. 106 banks qualified in Indiana. Credit unions, debt funds, agency lenders and life companies also finance apartments and none of them file this report, and plenty of banks lend on multifamily without publishing criteria anywhere. Running your deal through the search covers all of them, not just the banks on this page.
We hold a named lending contact for 101 of them.
Sources. FDIC Call Reports (30 June 2026) and the FDIC Summary of Deposits. A bank appears here if it reported a multifamily balance of $5m or more, or multifamily at 5% or more of its commercial real estate book, and has at least one branch in Indiana. The dual test is deliberate: a flat dollar floor is a bank-size filter in disguise — a $25m floor passes 86.5% of banks over $10bn and 2.2% of banks under $300m — and would drop the community lenders most likely to look at a smaller apartment deal. Multifamily is the call report's own category for loans secured by five-or-more-unit residential property; it excludes one-to-four-unit rentals, which banks report separately. Multifamily book is institution-level and unprorated: no state split of the loan book is published, so a bank lending in several states shows its full multifamily book on every state page where it qualifies. That is why this page separates banks based in Indiana from national lenders with branches here, rather than ranking them against each other on a national figure. Branch counts are offices in Indiana from the Summary of Deposits. Contact availability refers to whether Lender Compass holds a named contact, not to anything the bank publishes.