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Multifamily record
First Business Bank: multifamily loans made
First Business Bank, a bank based in Madison, WI, made 27 multifamily loans in 2025, $183.4M in all, in 2 states. The typical loan was about $2.5M, and the largest about $42M. Most were in Dane County, WI.
- Evidence
- Multifamily loans made in 2024 and 2025, HMDA
- Data as of
- HMDA 2025
- Page last changed
- November 11, 2026
- Multifamily loans
- 27
- HMDA,
- 2025. Manufactured-home parks excluded
- Dollars
- $183M
- HMDA,
- Rounded amounts
- Typical loan
- $2.5M
- HMDA,
- Largest loan
- $42M
- HMDA,
- Rounded to 2 significant figures
- States
- 2
- HMDA,
Cite this
Source: The Lender Report, First Business Bank: multifamily loans made, https://lender.report/lender/first-business-bank-wi/multifamily/, data as of December 31, 2025.
The loans, newest first
Banks report no loan-level data for office, retail, industrial or construction loans. This list shows only multifamily and SBA loans.
| Period | Place | Loan | Amount | Rate | Term | LTV | Source |
|---|---|---|---|---|---|---|---|
| 2025 | Milwaukee County, WI | Purchase, 150 or more units | $42M | HMDA 2025 | |||
| 2025 | Dane County, WI | Purchase, 150 or more units | $34M | HMDA 2025 | |||
| 2025 | Milwaukee County, WI | Purchase, 100 to 149 units | $17M | HMDA 2025 | |||
| 2025 | Waukesha County, WI | Purchase, 100 to 149 units | $16M | HMDA 2025 | |||
| 2025 | Dallas County, IA | Purchase, 50 to 99 units | $14M | HMDA 2025 | |||
| 2025 | Dane County, WI | Purchase, 100 to 149 units | $14M | HMDA 2025 | |||
| 2025 | Columbia County, WI | Purchase, 50 to 99 units | $9.3M | HMDA 2025 | |||
| 2025 | Grant County, WI | Purchase, 50 to 99 units | $7.4M | HMDA 2025 | |||
| 2025 | Milwaukee County, WI | Refinance, 100 to 149 units | $5.3M | HMDA 2025 | |||
| 2025 | Milwaukee County, WI | Purchase, 25 to 49 units | $4.8M | HMDA 2025 | |||
| 2025 | Milwaukee County, WI | Refinance, 100 to 149 units | $4M | HMDA 2025 | |||
| 2025 | Cerro Gordo County, IA | Purchase, 50 to 99 units | $3.5M | HMDA 2025 | |||
| 2025 | Milwaukee County, WI | Refinance, 100 to 149 units | $3.4M | HMDA 2025 | |||
| 2025 | Waupaca County, WI | Purchase, 25 to 49 units | $2.5M | HMDA 2025 | |||
| 2025 | Iowa | Purchase, 50 to 99 units | $1.4M | HMDA 2025 | |||
| 2025 | Marinette County, WI | Purchase, 5 to 24 units | $1.3M | HMDA 2025 | |||
| 2025 | Des Moines-West Des Moines, IA | Purchase, 5 to 24 units | $800K | HMDA 2025 | |||
| 2025 | Iowa | Purchase, 25 to 49 units | $760K | HMDA 2025 | |||
| 2025 | Waupaca County, WI | Refinance, 5 to 24 units | $320K | HMDA 2025 | |||
| 2025 | Dane County, WI | Purchase, 5 to 24 units | $200K | HMDA 2025 | |||
| 2025 | Dane County, WI | Purchase, 5 to 24 units | $200K | HMDA 2025 | |||
| 2025 | Dane County, WI | Purchase, 5 to 24 units | $200K | HMDA 2025 | |||
| 2025 | Dane County, WI | Purchase, 25 to 49 units | $200K | HMDA 2025 | |||
| 2025 | Dane County, WI | Purchase, 5 to 24 units | $200K | HMDA 2025 | |||
| 2025 | Dane County, WI | Purchase, 25 to 49 units | $200K | HMDA 2025 | |||
| 27 multifamily loans made in 2025 | $183M | HMDA 2025 | |||||
A blank means the source did not report it.
| Place | As named | Loans | Dollars |
|---|---|---|---|
| Dane County, WI | County | 10 | $49.6M |
| Milwaukee County, WI | County | 6 | $76.5M |
| Iowa | State | 2 | $2.16M |
| Waupaca County, WI | County | 2 | $2.82M |
| Cerro Gordo County, IA | County | 1 | $3.50M |
| Columbia County, WI | County | 1 | $9.30M |
| Dallas County, IA | County | 1 | $14.0M |
| Des Moines-West Des Moines, IA | Metro area | 1 | $800K |
| Grant County, WI | County | 1 | $7.40M |
| Marinette County, WI | County | 1 | $1.30M |
| Waukesha County, WI | County | 1 | $16.0M |
A county is named only where the public file holds 5 or more multifamily loans there in the year; otherwise the metro area or the state is.
| Loan size | Loans | Dollars |
|---|---|---|
| Under $1M | 11 | $3.48M |
| $1M to $2.5M | 2 | $2.70M |
| $2.5M to $5M | 5 | $18.2M |
| $5M to $10M | 3 | $22.0M |
| $10M or more | 6 | $137M |
| Year | Loans | Dollars | Typical loan |
|---|---|---|---|
| 2025 | 27 | $183M | $2.5M |
| Purpose | Loans |
|---|---|
| Purchase | 23 |
| Refinance | 4 |
| Units | Loans |
|---|---|
| 5 to 24 units | 8 |
| 25 to 49 units | 6 |
| 50 to 99 units | 5 |
| 100 to 149 units | 6 |
| 150 or more units | 2 |
- First Business Bank made 27 multifamily loans totaling $183.4M in 2025, in 11 named places across 2 states. HMDA,
- The typical loan was about $2.5M, with the middle half between $200K and $9.3M. HMDA,
- The largest was about $42M. Every amount is rounded to 2 significant figures. HMDA,
- 11 loans were under $1M, and 9 were $5M or more. HMDA,
- 15% of the loans were refinancings and 85% were purchases. HMDA,
- The most common property size was 5 to 24 units, with 8 loans. HMDA,
- Its loans were most often in Dane County, WI (10), Milwaukee County, WI (6) and Waupaca County, WI (2). HMDA,
What we don't know
- Whether First Business Bank is taking new multifamily loans today.
- Its minimum or maximum loan, its fees and its other terms. HMDA reports the rate, term and loan to value, and this page shows what it reports.
- Loans on office, retail, industrial or hotel property. HMDA covers dwelling-secured loans only.
Place is a county only where the public file holds 5 or more multifamily loans of that year there, otherwise the metro area or the state. Amounts are rounded to 2 significant figures and HMDA has a year, never a date.
HMDA covers dwelling-secured loans. Manufactured-home parks are left out of every count.
Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem
Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.