If you are shopping an SBA 7(a) or conventional commercial loan in Indiana, the bank you call first matters more than most borrowers think. A lender that already writes a lot of commercial credit and sits in your state is structurally likelier to say yes than a national name passing through. This page ranks the Indiana-headquartered banks doing the most commercial lending right now, using public Q2 2026 FFIEC call-report data. It is the open-book version of what the paid report does with far more inputs.
Indiana banks against a manufacturing and logistics economy, and its commercial lenders tend to read an equipment loan better than a coastal bank ever will.
The 15 most active commercial lenders in Indiana
Ranked by commercial and industrial (C&I) loans outstanding, Q2 2026. Bank names link to the live BankingLens scorecard.
| # | Bank | City | Assets | C&I share | ROA | Fit notes |
|---|---|---|---|---|---|---|
| 1 | Old National Bank | Evansville | $73.9B | 22.9% | 1.41% | National-scale lender, an active C&I book. CRE-heavy book. Top sectors funded in IN: Construction (18 loans), Health Care (14 loans) |
| 2 | 1st Source Bank | South Bend | $9.3B | 66.4% | 1.99% | Regional commercial bank, heavy C&I concentration. Return on assets above 1.5 percent. Top sectors funded in IN: Transportation & Warehousing (38 loans), Manufacturing (37 loans) |
| 3 | First Merchants Bank | Muncie | $21.3B | 30.3% | 0.79% | Large multi-state regional, heavy C&I concentration. Loan book up 17% YoY. Top sectors funded in IN: Construction (35 loans), Retail Trade (19 loans) |
| 4 | Lake City Bank | Warsaw | $7.2B | 29.4% | 1.66% | Regional commercial bank, an active C&I book. Return on assets above 1.5 percent. Top sectors funded in IN: Construction (7 loans), Accommodation/Food Service (7 loans) |
| 5 | First Internet Bank of Indiana | Fishers | $5.5B | 27.6% | 0.32% | Mid-size regional, an active C&I book. Loan book down 14% YoY. Top sectors funded in IN: Construction (11 loans), Manufacturing (9 loans) |
| 6 | German American Bank | Jasper | $8.4B | 11.2% | 1.76% | Regional commercial bank, a modest C&I share. Return on assets above 1.5 percent. |
| 7 | First Financial Bank | Terre Haute | $6.2B | 14.3% | 1.46% | Mid-size regional, a steady commercial book. Loan book up 15% YoY. |
| 8 | Horizon Bank | Michigan City | $6.5B | 12.6% | 1.76% | Regional commercial bank, a steady commercial book. Return on assets above 1.5 percent. |
| 9 | The National Bank of Indianapolis | Indianapolis | $3.0B | 24.0% | 1.38% | Mid-size regional, an active C&I book. CRE-heavy book. Loan book up 16% YoY. |
| 10 | First Farmers Bank & Trust Co. | Converse | $3.5B | 18.2% | 1.66% | Regional commercial bank, a steady commercial book. Return on assets above 1.5 percent. |
| 11 | Star Financial Bank | Fort Wayne | $3.2B | 22.3% | 1.01% | Mid-size regional, an active C&I book. |
| 12 | First Bank Richmond | Richmond | $1.5B | 12.2% | 0.72% | Local commercial lender, a steady commercial book. CRE-heavy book. |
| 13 | Community First Bank of Indiana | Kokomo | $980M | 15.7% | 1.14% | Small community bank, a steady commercial book. CRE-heavy book. Loan book up 10% YoY. |
| 14 | First State Bank of Middlebury | Middlebury | $836M | 15.1% | 1.58% | Small local lender, a steady commercial book. Return on assets above 1.5 percent. |
| 15 | State Bank | Brownsburg | $916M | 12.5% | 1.05% | Small community bank, a steady commercial book. CRE-heavy book. |
Assets and ratios are Q2 2026 FFIEC call-report figures. ROA is annualized return on assets. A bank's headquarters city is shown; many lend statewide and beyond.
C&I lending muscle, ranked
Commercial and industrial loans outstanding for the top 10 Indiana-HQ lenders, Q2 2026. This is the single number our ranking leans on hardest.
How we ranked these
Four steps, all of them transparent. First, we took every bank headquartered in Indiana. Second, a capacity floor: we dropped every Indiana-headquartered bank under $500M in total assets, because a smaller balance sheet rarely anchors a primary SBA 7(a) relationship. Third, an active-originator floor: we kept only banks whose commercial and industrial (C&I) loans are at least 10 percent of the loan book (a bank that is 90 percent home mortgages is not your SBA lender, regardless of size). Of the banks clearing both floors, 23 made the active list. Fourth, we ranked them by C&I loan dollars outstanding, which already blends balance-sheet size with how committed a bank is to commercial credit, and kept the top 15. Where the call report reports it, the fit notes also flag year-over-year loan-book growth as a rough read on whether a bank is leaning into lending or pulling back; the FFIEC filing does not break out SBA or C&I growth on its own, so treat that as directional, not precise.
Smaller banks may also fund your loan but rank below the active list.
The SBA section below ranks separately: it counts the SBA 7(a) and 504 loans each lender actually made in Indiana, from SBA's own loan data, whatever state the lender is based in.
This table is an honest, simplified proxy. The call report does not show a bank's SBA volume or its appetite for your industry; the SBA section shows volume, but not which lender fits your deal. The $49 Borrower Assist report folds all of that in and ranks against your specific deal, not just your state. That is the part worth paying for.
Most active SBA lenders in Indiana
The lenders that made the most SBA 7(a) and 504 loans to Indiana businesses, federal fiscal year 2023 through June 30, 2026, counted from SBA's own loan-level data. National SBA platforms appear next to Indiana's own banks because they lend here too.
922 SBA loans in Indiana, $224.4M in total. Most often: Transportation & Warehousing, Construction.
277 SBA loans in Indiana, $69.3M in total. Most often: Transportation & Warehousing, Manufacturing.
159 SBA loans in Indiana, $57.1M in total. Most often: Manufacturing, Health Care.
157 SBA loans in Indiana, $45.1M in total. Most often: Construction, Retail Trade.
105 SBA loans in Indiana, $88.5M in total. Most often: Construction, Health Care.
104 SBA loans in Indiana, $19.9M in total. Most often: Construction, Administrative & Support.
93 SBA loans in Indiana, $47.8M in total. Most often: Retail Trade, Accommodation/Food Service.
91 SBA loans in Indiana, $19.4M in total. Most often: Construction, Professional Services.
89 SBA loans in Indiana, $31.7M in total. Most often: Health Care, Other Services.
85 SBA loans in Indiana, $26.6M in total. Most often: Other Services, Professional Services.
Source: U.S. Small Business Administration 7(a) and 504 loan data, refreshed monthly. Ranked by number of loans. Lenders that have since merged count toward the bank that acquired them.
What Indiana looks like for a borrower
Indiana banks against a manufacturing and logistics economy, and its commercial lenders tend to read an equipment loan better than a coastal bank ever will.
Across 86 Indiana-headquartered banks sits $221.5B in total assets, anchored by Old National Bank in Evansville at $73.9B. Half the state's lenders hold more than 8.6% of their loans in C&I, half less; the ranking below pulls the most commercial-heavy to the top.
None of that tells you which of these banks will fund your specific deal. A $400,000 restaurant acquisition and a $4M owner-occupied warehouse purchase have different optimal lender lists even in the same state, and the ranking above does not split by loan size, industry, or collateral. Treat it as your starting shortlist, not your final answer.
How to use this list
- Start with the bank near you that has the strongest commercial profile, not just the closest branch. A lender with a real C&I book understands your deal faster.
- Ask for the SBA or commercial lending group directly. The general line routes business deals slowly.
- Have a one-page summary ready: use of funds, cash flow, collateral, owner credit, timeline. Banks decide whether to engage in the first ninety seconds.
- Run two banks in parallel, not five. Two real conversations close a loan; five waste everyone's time.
Hero photo: Midwestern farm country by Pieter van de Sande on Unsplash, used here as a regional editorial image for Indiana.