These banks all reported apartment loans on their most recent federal call report, and all have at least one branch in Iowa. 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 Iowa, Largest Multifamily Books First
25 of 147 qualifying banks are headquartered in Iowa. These are the lenders whose whole business is this market.
| # | Institution | Multifamily book | Share of investor CRE | Branches in IA | Contact |
|---|---|---|---|---|---|
| 1 | Cedar Rapids Bank & Trust | $709m | 62.2% | 9 | Contact available |
| 2 | Hills Bank and Trust Company | $536m | 45.7% | 21 | Contact available |
| 3 | West Bank | $504m | 28.0% | 8 | Contact available |
| 4 | Quad City Bank & Trust | $463m | 53.2% | 4 | Contact available |
| 5 | Luana Savings Bank | $388m | 52.3% | 6 | Contact available |
| 6 | Bankers Trust | $383m | 12.0% | 16 | Contact available |
| 7 | Community State Bank (Ankeny, IA) | $301m | 36.4% | 10 | Contact available |
| 8 | Farmers State Bank (Waterloo, IA) | $209m | 43.7% | 8 | Contact available |
| 9 | Lincoln Savings Bank | $175m | 39.2% | 16 | Contact available |
| 10 | First National Bank, Ames, Iowa | $171m | 57.5% | 10 | Contact available |
| 11 | Bank Iowa | $141m | 21.3% | 25 | Contact available |
| 12 | Northwest Bank (Spencer, IA) | $133m | 19.3% | 20 | Contact available |
| 13 | Central Bank (Storm Lake, IA) | $128m | 19.1% | 17 | Contact available |
| 14 | Bank Midwest | $115m | 37.6% | 4 | Contact available |
| 15 | Farmers Trust and Savings Bank | $106m | 41.6% | 1 | Contact available |
| 16 | The Security National Bank of Sioux City, Iowa | $105m | 42.9% | 10 | Contact available |
| 17 | First Citizens Bank (Mason City, IA) | $98m | 21.9% | 6 | Contact available |
| 18 | American State Bank | $81m | 42.4% | 10 | Contact available |
| 19 | VISIONBANK OF IOWA | $65m | 18.6% | 13 | Contact available |
| 20 | Fidelity Bank & Trust | $63m | 24.4% | 33 | Contact available |
| 21 | Iowa Trust & Savings Bank | $56m | 27.1% | 4 | Contact available |
| 22 | Midstates Bank, National Association | $51m | 52.5% | 10 | Contact available |
| 23 | Liberty National Bank | $46m | 30.9% | 4 | Contact available |
| 24 | Peoples Bank | $46m | 27.7% | 8 | Contact available |
| 25 | City State Bank | $42m | 23.9% | 9 | Contact available |
National Lenders With Branches in Iowa
25 of 34 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 IA | Contact |
|---|---|---|---|---|---|
| 1 | JPMorgan Chase Bank, National Association | $107.32bn | 64.9% | 13 | Contact available |
| 2 | Wells Fargo | $26.55bn | 25.6% | 39 | Contact available |
| 3 | US Bank | $14.46bn | 34.7% | 56 | Contact available |
| 4 | Bank of America | $8.46bn | 15.3% | 4 | Contact available |
| 5 | Old National Bank | $5.86bn | 34.3% | 2 | Contact available |
| 6 | Regions Bank | $3.88bn | 35.6% | 4 | Contact available |
| 7 | BMO Bank | $3.16bn | 15.3% | 21 | Contact available |
| 8 | Associated Bank | $2.46bn | 27.3% | 6 | Contact available |
| 9 | First Interstate Bank | $1.85bn | 31.3% | 45 | Contact available |
| 10 | UMB Bank | $1.72bn | 16.1% | 8 | Contact available |
| 11 | Great Southern Bank | $1.35bn | 44.3% | 20 | Contact available |
| 12 | Nicolet National Bank | $737m | 22.9% | 37 | Contact available |
| 13 | Heartland Bank & Trust | $667m | 30.0% | 4 | Contact available |
| 14 | First National Bank of Omaha | $610m | 13.5% | 3 | Contact available |
| 15 | First Mid Bank & Trust | $391m | 13.8% | 14 | Contact available |
| 16 | Alerus Financial | $362m | 26.5% | 1 | Contact available |
| 17 | TBK Bank (Triumph) | $146m | 21.6% | 3 | Contact available |
| 18 | Time Bank | $117m | 56.8% | 2 | Contact available |
| 19 | Availa Bank | $102m | 29.6% | 16 | Contact available |
| 20 | Blackhawk Bank & Trust | $99m | 15.5% | 5 | Contact available |
| 21 | Farmers State Bank | $88m | 20.2% | 9 | Contact available |
| 22 | Security National Bank of Texas | $87m | 17.0% | 2 | Contact available |
| 23 | BankOrion | $51m | 41.4% | 1 | Contact available |
| 24 | First National Bank | $38m | 32.8% | 1 | — |
| 25 | Fortress Bank | $37m | 16.3% | 1 | 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. 181 banks qualified in Iowa. 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 173 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 Iowa. 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 Iowa from national lenders with branches here, rather than ranking them against each other on a national figure. Branch counts are offices in Iowa from the Summary of Deposits. Contact availability refers to whether Lender Compass holds a named contact, not to anything the bank publishes.