Applications / Mortgage Analytics / Lenders / Wisconsin / First Business Bank
Madison, WI · State non-member bank · FDIC · $4.1 billion assets · 37 loans in 2025
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37
loans originated, 2025
46
applications, 2025
5
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
First Business Bank, a Wisconsin bank, returned to the public record in 2025 after five years without a report, making 37 loans, most of them for home purchases.
It filed no report for 2020 to 2024, a gap in the record rather than years without lending. It made 22 loans in 2018, 18 in 2019 and 37 in 2025. That is fewer than about seven in ten similar lenders (state non-member banks making between half and twice as many loans), and a modest number for a bank with $4.1 billion of assets.
Home purchases were 81.1% of its loans and refinancing 13.5%. All were conventional, with no manufactured homes. Its loans spread across 20 counties in five states, and in 2025 it lent for the first time in the Des Moines and San Francisco areas.
Low- and moderate-income (LMI) neighborhoods took 41.7% of its loans, against 18.8% at its peers, higher than about nine in ten of them. With 37 loans spread over 20 counties, the figure rests on few loans, and a handful more or less would move it a long way.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Years with no HMDA report from this lender are left out: since 2020 a bank making fewer than 100 closed-end loans a year need not report. First Business Bank took 46 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 81.1% · Refinance 13.5% · Home improvement 2.7% · Other 2.7%
Conventional 100.0% · of 37 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 | 28 | 75.7% |
| Iowa | 5 | 13.5% |
| Kansas | 2 | 5.4% |
| California | 1 | 2.7% |
| Missouri | 1 | 2.7% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Madison | 11 |
| Milwaukee-Waukesha | 8 |
| Des Moines-West Des Moines | 2 |
| Kansas City | 2 |
| Oakland-Fremont-Berkeley | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300F247N2IU8SC024 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 537449 | 2004–2019 |
| Respondent ID (the HMDA filer code before 2018) | 315229 | 1991–2017 |
Established 1 May 1909. Reported under HMDA 1991-2025.
Mergers, name changes, data editions and corrections: First Business Bank's data.
First Business Bank's data
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