Which banks are lending on multifamily and commercial real estate in Montana?
Reviewed by Dominick Prevete, Founder, Blue Sky Capital Advisors
LinkedInBlue Sky Capital Advisors LLC, NJ entity ID 0450507578 (verify on the NJ business search)
35 FDIC-insured banks headquartered in Montana with under $100 billion in assets held $3.5 billion of multifamily loans and $20.1 billion of commercial real estate loans at June 30, 2026, in Dominick Prevete's analysis of FDIC Call Report data for Blue Sky Capital Advisors, a commercial mortgage advisor. The two largest multifamily books are at First Interstate Bank and Glacier Bank. 14.6% of the state's bank CRE sits at banks at or above the 300% monitoring level, rank 24 of 43 states.
Data as of June 30, 2026 (Q2 2026 FDIC Call Reports) · Retrieved October 12, 2026MethodologyDownload the Montana data (CSV)
Montana bank CRE at a glance
| Measure | Montana | U.S. | Rank of 43 |
|---|---|---|---|
| FDIC-insured banks | 35 | 4,281 | 34 |
| Multifamily loans | $3.5B | $405.2B | 28 |
| Total CRE loans | $20.1B | $1,600.5B | 25 |
| Multifamily growth, year over year | −1.0% | +3.5% | 38 |
| CRE growth, year over year | −4.6% | +3.4% | 42 |
| Share of CRE at banks at or above 300% | 14.6% | 25.0% | 24 |
| Share of CRE at banks at or above 200% | 94.8% | 71.0% | 5 |
| Banks growing multifamily | 2 of 5 (40.0%) | 670 of 1,066 (62.9%) | 41 |
CRE is construction, multifamily and non-owner-occupied commercial real estate loans. Growth is like for like: Montana banks that filed at both dates with no merger in the year. "Banks growing multifamily": of the 5 such Montana banks with a multifamily book of $25 million or more a year earlier, the 2 whose book is larger now; the rank orders that share.
What stands out in Montana
2 of Montana's 5 banks with a multifamily book of $25 million or more a year ago grew it (40.0%), the third-lowest of the 43 ranked states (U.S.: 62.9%).
Fewer of this state's multifamily lenders are growing their books than nationally, so a borrower here may need to ask more banks, or look past them.
The 10 largest multifamily books hold 98.7% of Montana's bank multifamily loans, ranking 5th highest of the 43 ranked states (median of the 43 states: 85.2%).
A few banks hold most of this state's multifamily loans, so when one of them pulls back, borrowers here have fewer local options.
Which Montana banks are growing multifamily?
| # | Bank | City | Multifamily loans | Multifamily, year over year | CRE concentration (% of capital) | CRE, 36 months |
|---|---|---|---|---|---|---|
| 1 | FIRST INTERSTATE BANK | BILLINGS | $1.8B | −6.5% | 230.8% | −20.0% |
| 2 | GLACIER BANK | KALISPELL | $1.1B | +10.2%‡ | 267.2% | +33.1%† |
| 3 | STOCKMAN BANK OF MONTANA | MILES CITY | $255.6M | +29.0% | 349.1% | +67.8% |
| 4 | OPPORTUNITY BANK OF MONTANA | HELENA | $113.9M | −1.9% | 259.5% | +7.5% |
| 5 | TRAILWEST BANK | LOLO | $42.3M | +52.5% | 265.5% | +71.3% |
| 6 | INDEPENDENCE BANK | HAVRE | $29.7M | +302.8% | 51.2% | +156.1% |
| 7 | FIRST MONTANA BANK INC | MISSOULA | $27.5M | −10.5% | 196.8% | −4.7% |
| 8 | AMERICAN BANK | BOZEMAN | $23.4M | +92.8% | 180.7% | −13.3% |
| 9 | FARMERS STATE BANK | VICTOR | $22.7M | −3.8% | 218.4% | +8.7% |
| 10 | LITTLE HORN STATE BANK | HARDIN | $9.2M | −3.8% | 251.3% | +334.7% |
| 11 | YELLOWSTONE BANK | LAUREL | $7.7M | +5.5% | 142.2% | +20.5% |
| 12 | ASCENT BANK | HELENA | $6.0M | −27.1% | 199.7% | +23.2% |
| 13 | THREE RIVERS BANK OF MONTANA | KALISPELL | $5.4M | +189.3% | 160.0% | −14.6% |
| 14 | BANK OF BAKER | BAKER | $4.9M | +482.3% | 71.8% | +25.7% |
| 15 | EAGLE BANK | POLSON | $2.9M | −3.9% | 128.6% | −16.0% |
| 16 | BANK OF THE ROCKIES | HELENA | $2.7M | +91.3% | 145.8% | +58.7% |
| 17 | BANK OF BRIDGER NA | BRIDGER | $2.2M | −3.6% | 39.4% | −9.2% |
| 18 | BANK OF MONTANA | MISSOULA | $2.2M | −3.5% | 27.0% | −25.5% |
| 19 | BELT VALLEY BANK | BELT | $1.7M | +73.3% | 119.8% | +20.4% |
| 20 | MADISON VALLEY BANK | ENNIS | $1.4M | −63.6% | 148.9% | −12.4% |
| 21 | MANHATTAN BANK | MANHATTAN | $1.4M | +37.5% | 131.3% | +51.8% |
| 22 | FREEDOM BANK | COLUMBIA FALLS | $1.3M | +2256.4% | 226.8% | +10.9% |
| 23 | FIRST STATE BANK OF FORSYTH | FORSYTH | $1.2M | +154.5% | 36.3% | +72.9% |
| 24 | PEOPLES BANK OF DEER LODGE | DEER LODGE | $1.1M | −1.1% | 107.4% | +10.7% |
| 25 | FIRST SECURITY BK DEER LODGE | DEER LODGE | $1.0M | −5.4% | 135.8% | −23.7% |
‡ / † One of these 25 Montana banks absorbed another institution inside the year-over-year / 36-month window (FDIC structure history), so its change reflects a merger, not solely new lending. Names as filed in the FDIC financial data; city is the headquarters. Shading: 300% and over, and 200%–299%.
Banks with $100 billion or more in assets are left out of this table and the state ranks, as on the national page: the largest banks' balance sheets are national. None is headquartered in Montana.
This list is FDIC Call Report data, not a list of Blue Sky's lender relationships, and it isn't a ranking or endorsement. How Blue Sky gets paid →
Download every Montana bank (CSV)Every state, and the national picture →
What this means if you're a borrower in Montana
With few Montana banks growing their multifamily books, a deal may need capital beyond the state's banks: agency, life-company or debt-fund lenders.
Because a handful of banks hold most of Montana's multifamily loans, it helps to know which of the largest holders are still growing; the table above shows each one's change over the year.
Dominick Prevete of Blue Sky Capital Advisors arranges multifamily and commercial financing for Montana properties with banks and other lenders, and is paid at closing (how Blue Sky gets paid). Call (908) 220-6404 or request a consultation.
Sources
- FFIEC Central Data Repository: public Call Reports as of June 30, 2026 — Every bank figure on this page: each bank's loans, capital, concentration and growth, from its Call Report as of June 30, 2026 (retrieved October 12, 2026).
- FDIC BankFind Suite: bank lookup — The banks named in the table: look up any Montana bank by name or FDIC certificate number to confirm its headquarters and status.
- Montana banks, bank by bank (CSV) — The 35 banks headquartered in Montana, as filed: the rows behind the tables and every state figure here.
- Methodology, sources and limitations — How CRE concentration, like-for-like growth and the ranks among the 43 states are computed.
Montana bank CRE: common questions
Which banks in Montana hold the most multifamily loans?+
Among banks headquartered in Montana with under $100 billion in assets, First Interstate Bank ($1.8 billion), Glacier Bank ($1.1 billion) and Stockman Bank Of Montana ($255.6 million) held the largest multifamily books at June 30, 2026, according to FDIC Call Report data. The table on this page lists the 25 largest, with each bank's change over the year.
Are Montana banks still growing multifamily?+
Like for like, Montana's banks shrank 1.0% their multifamily books in the year to June 30, 2026, against +3.5% for U.S. banks under $100 billion. 2 of the 5 Montana banks with a multifamily book of $25 million or more a year earlier grew it. Like for like means banks that filed at both dates with no merger in the year.
How concentrated is Montana bank CRE?+
14.6% of the CRE held by Montana's banks under $100 billion sits at banks at or above 300% of capital, the 2006 interagency monitoring level: rank 24 of 43 states, against 25.0% nationally. 94.8% sits at banks at or above 200%. These are monitoring levels, not limits, and a bank above one is not in violation of anything.
Why don't national banks appear in this list?+
Banks with $100 billion or more in assets are left out of this page's tables and ranks, as on the national page: the largest banks' balance sheets are national, so their headquarters state says little about where they lend. None is headquartered in Montana. Every bank here is listed by headquarters state, not by where its loans are.
How often is this updated?+
Every quarter, after banks file their Call Reports. This Montana page reflects the 35 Montana banks' June 30, 2026 (Q2 2026) filings, retrieved October 12, 2026; Q3 2026 data is expected in December 2026.
What this table is not. Concentration ratios are computed from each Montana bank's own public regulatory filings and describe portfolio composition relative to capital — nothing here is a statement about any institution's safety, soundness, or condition, and exceeding a supervisory monitoring criterion is neither a violation nor a supervisory finding. Blue Sky Capital Advisors is a commercial mortgage advisory firm, not a bank rating agency.