Applications / Mortgage Analytics / Lenders / Wisconsin / Badger Bank
Fort Atkinson, WI · State non-member bank · FDIC · $208 million assets · 94 loans in 2025
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94
loans originated, 2025
96
applications, 2025
6
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Badger Bank made 68% more loans in 2025, faster growth than nearly all similar banks, though it is still far smaller than in 2020.
Originations rose from 56 to 94, against 9% growth at similar lenders (state non-member banks making between half and twice as many loans), higher than more than nine in ten peers. Dollar volume rose from $10.3 million to $27.5 million. The bank made 569 loans in 2020 and fewer each year from then until 2024.
Purchase loans were 46.8% of originations and refinances 40.4%. Every loan was conventional, and it made no jumbo loans. Its typical loan, $210,000, was above the peer figure of $175,000. Its share of loans to low- and moderate-income borrowers was near the middle of similar banks.
Its largest markets are non-metro Wisconsin, where it ranked 101 of 659 lenders, and Madison, WI, where it ranked 86 of 380. Summit Credit Union led both. Its loans reached 18 counties in six states, and it entered Bozeman, MT in 2025.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Badger Bank took 96 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 46.8% · Refinance 40.4% · Other 7.4% · Home improvement 5.3%
Conventional 100.0% · of 94 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Wisconsin | 89 | 94.7% |
| Arizona | 1 | 1.1% |
| Florida | 1 | 1.1% |
| Illinois | 1 | 1.1% |
| Minnesota | 1 | 1.1% |
| Montana | 1 | 1.1% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Madison | 11 |
| Janesville-Beloit | 6 |
| Milwaukee-Waukesha | 2 |
| Bozeman | 1 |
| Cape Coral-Fort Myers | 1 |
| Chicago-Naperville-Schaumburg | 1 |
| Phoenix-Mesa-Chandler | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 5493003Q218ZJ8R1WN88 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 846945 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 32469 | 2004–2017 |
Established 7 January 1884. Reported under HMDA 2004-2025.
Mergers, name changes, data editions and corrections: Badger Bank's data.
Badger Bank's data
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Badger Bank and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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