These banks all reported apartment loans on their most recent federal call report, and all have at least one branch in Michigan. 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 Michigan, Largest Multifamily Books First
25 of 54 qualifying banks are headquartered in Michigan. These are the lenders whose whole business is this market.
| # | Institution | Multifamily book | Share of investor CRE | Branches in MI | Contact |
|---|---|---|---|---|---|
| 1 | Mercantile Bank of Michigan | $312m | 17.9% | 41 | Contact available |
| 2 | Bank of Ann Arbor | $194m | 19.5% | 18 | Contact available |
| 3 | Independent Bank (Grand Rapids, MI) | $121m | 11.6% | 59 | Contact available |
| 4 | First National Bank of Michigan | $108m | 21.6% | 7 | Contact available |
| 5 | ChoiceOne Bank | $104m | 9.4% | 50 | Contact available |
| 6 | Southern Michigan Bank & Trust | $98m | 16.4% | 21 | Contact available |
| 7 | Macatawa Bank | $96m | 20.4% | 28 | Contact available |
| 8 | West Michigan Community Bank | $90m | 26.7% | 8 | Contact available |
| 9 | United Bank of Michigan | $83m | 16.1% | 13 | Contact available |
| 10 | Isabella Bank | $76m | 18.0% | 32 | Contact available |
| 11 | Northstar Bank | $48m | 15.3% | 11 | — |
| 12 | Range Bank | $41m | 31.8% | 8 | Contact available |
| 13 | Superior National Bank | $35m | 20.3% | 10 | Contact available |
| 14 | County National Bank | $32m | 13.4% | 15 | Contact available |
| 15 | Thumb Bank and Trust | $28m | 23.4% | 13 | Contact available |
| 16 | West Shore Bank | $27m | 18.4% | 9 | Contact available |
| 17 | Grand River Bank | $24m | 13.0% | 2 | Contact available |
| 18 | First State Bank (St. Clair Shores, MI) | $23m | 8.4% | 11 | Contact available |
| 19 | Mi Bank | $23m | 34.2% | 1 | Contact available |
| 20 | First Independence Bank | $22m | 27.5% | 2 | Contact available |
| 21 | First Community Bank | $22m | 18.2% | 10 | Contact available |
| 22 | Eaton Community Bank | $21m | 31.4% | 7 | Contact available |
| 23 | The Dart Bank | $20m | 8.8% | 4 | Contact available |
| 24 | Honor Bank | $19m | 13.9% | 9 | Contact available |
| 25 | Upper Peninsula State Bank | $18m | 17.8% | 5 | Contact available |
National Lenders With Branches in Michigan
25 of 26 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 MI | Contact |
|---|---|---|---|---|---|
| 1 | JPMorgan Chase Bank, National Association | $107.32bn | 64.9% | 171 | Contact available |
| 2 | Flagstar Bank | $26.92bn | 82.2% | 101 | Contact available |
| 3 | Wells Fargo | $26.55bn | 25.6% | 1 | Contact available |
| 4 | PNC Real Estate | $14.98bn | 40.8% | 124 | Contact available |
| 5 | Bank of America | $8.46bn | 15.3% | 72 | Contact available |
| 6 | Citizens Bank | $8.04bn | 35.0% | 65 | Contact available |
| 7 | Old National Bank | $5.86bn | 34.3% | 20 | Contact available |
| 8 | KeyBank | $5.44bn | 38.5% | 19 | Contact available |
| 9 | Huntington National Bank | $4.88bn | 19.9% | 447 | Contact available |
| 10 | Fifth Third Bank | $4.14bn | 19.2% | 302 | Contact available |
| 11 | CIBC Bank USA | $3.99bn | 28.5% | 1 | Contact available |
| 12 | WesBanco Bank | $1.74bn | 22.5% | 5 | Contact available |
| 13 | The Northern Trust Company | $1.49bn | 27.6% | 2 | Contact available |
| 14 | First Financial Bank (OH) | $809m | 20.7% | 1 | Contact available |
| 15 | First Merchants Bank | $767m | 18.5% | 34 | Contact available |
| 16 | Nicolet National Bank | $737m | 22.9% | 15 | Contact available |
| 17 | Horizon Bank (Michigan City, IN) | $400m | 23.6% | 29 | Contact available |
| 18 | The Farmers & Merchants State Bank | $151m | 18.5% | 2 | Contact available |
| 19 | Waterford Bank | $130m | 25.6% | 2 | Contact available |
| 20 | First National Bank of America | $93m | 25.3% | 3 | Contact available |
| 21 | Incredible Bank | $63m | 17.0% | 6 | Contact available |
| 22 | 1st Source Bank | $59m | 7.7% | 8 | Contact available |
| 23 | Liberty Bank & Trust | $37m | 17.9% | 1 | Contact available |
| 24 | The Stephenson National Bank and Trust | $16m | 9.8% | 1 | Contact available |
| 25 | Farmers State Bank | $11m | 11.1% | 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. 80 banks qualified in Michigan. 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 77 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 Michigan. 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 Michigan from national lenders with branches here, rather than ranking them against each other on a national figure. Branch counts are offices in Michigan from the Summary of Deposits. Contact availability refers to whether Lender Compass holds a named contact, not to anything the bank publishes.