Bay Bank celebrates 30 years of business

Chris Rugowski

Contributor

August 25, 2025

GREEN BAY – Founded by the Oneida Nation in 1995, this year marks three decades of serving individuals, businesses and Tribal communities across Northeast Wisconsin for Bay Bank.

Since then, CEO and President Jeff Bowman said the bank has expanded its offerings while maintaining an emphasis on economic growth and stability in the region.

Opening the bank was essential

According to Bowman, opening the bank was a necessary move for both the Oneida Nation and the nearby area.

In the mid-1990s, he said the Oneida Nation sought to create a bank that could offer lending services designed specifically for Tribes on trust land.

Though the Oneida Nation had some capital, Bowman said it wasn’t enough to start the bank on their own.

At the same time, he said a group of business leaders in the Green Bay area was also interested in launching a community bank.

Bowman said the two groups joined forces to establish Bay Bank.

“Back in the mid-1990s, there were a lot of bank acquisitions happening,” he said. “Large national and regional banks were buying up the community banks in many of the smaller communities and towns, leaving a void. Banks that had been family-owned and community-oriented for generations now had new owners and different business models.”

Limited access to mortgage lending options, Bowman said, made it clear the Oneida Nation needed to consider other banking solutions for its Tribe members.

He said that in the 1990s – and even today – few lenders have the knowledge or experience to navigate the complexities of lending within Indian reservations.

The biggest hurdle, Bowman said, was and is helping people buy homes on trust land.

Lending within Indian reservations, he said, involves unique considerations – particularly when it comes to navigating the complexities of trust land.

At the time, he said there were no local lenders with the knowledge or experience to handle that process – until Bay Bank was established.

Even 30 years later, Bowman said mortgage lending is still a core service of the bank.

Referencing heat map data, Bowman said that though the bank’s mortgage lending has primarily focused on Oneida, Green Bay and the Menominee area, its geographic footprint has grown considerably over the past three decades.

He said he attributes this expansion to relationships developed with nearly 35 Native nations throughout the Great Lakes region.

“Going back to 1995, you can see how the complexity could be a barrier for the general banking market,” he said. “At the time, nobody was taking the time or making the effort to help those in the Oneida community.”

Bowman said the effects of the mid-1990s bank mergers extended beyond individual community members, also impacting small businesses in the area.

The initial group of investors, he said, came together to address the needs of the Oneida community, followed by local business leaders who had experienced a decline in banking services.

Bowman said it’s interesting to look back at the two groups that invested in the bank, because they both had legitimate needs. 

In 2000, he said the Oneida Nation bought out the other investors and acquired full ownership – a step that reinforced its ongoing commitment to offering banking services rooted in and responsive to the needs of the local community.

Reflecting on the bank’s history, Bowman said “it’s been a fun ride.”

“Now, the bank has just more than $300 million in assets, with a dedicated team of 40 employees,” he said. “We keep fostering the growth within Tribal communities, local small businesses and across multiple communities.”

Community commitment

Bowman said the bank operates as a full-service community institution, serving anyone in need of financial services in the Green Bay and Keshena areas.

Notably, he said it is one of only about 20 banks in the country that is entirely Native-owned – a distinction that brings a unique perspective and a deeper understanding of how to serve the community effectively.

When asked how Bay Bank defines community and commitment, Bowman said the bank doesn’t view its work purely in terms of numbers.

He said he believes people – not profit – should come first.

“[I often ask myself], ‘How is Bay Bank helping people?’” he said. 

Whether it’s helping someone purchase a car or a home, or supporting broader community development, Bowman said Bay Bank continues to make a meaningful impact.

He pointed to the bank’s strong Community Reinvestment Act (CRA) assessment scores as evidence, noting the vast majority of its lending takes place within local markets.

Bowman said Bay Bank provides a wide range of loan services – from home and small business loans, to used car financing and personal loans – each contributing to the community’s economic health.

Though a single loan might not seem significant, Bowman said it makes a difference because those dollars are reinvested back into the local economy.

He said the bank represents the best aspects of a rural bank and a community bank and is “a blend of both,” while aiming to “keep money moving around.”

Bowman said Bay Bank currently has just more than $300 million in assets – which might seem small compared to national and international banks, but he said it is still a substantial amount that allows the bank to make a meaningful impact in the community.

Fostering change

Recognizing the need for banking services tailored to Tribal nations, Bowman said the bank’s launch was a groundbreaking effort.

The bank’s updated strategic plan, which was finalized last year, he said, remains focused on growing and improving housing efforts. 

Bowman said housing shortages affect many Tribal communities, forcing many members to live outside their home communities in other cities.

“There are a lot of different opportunities to be a catalyst for change as we look forward,” he said. “Thirty years ago, there was no lender for ‘Indian Country’ as we commonly call it. Now, we have a mortgage loan portfolio with $100 million of loans originated by Bay Bank, where 90% of those loans are to Native Americans. This is not only in our backyard, but the Great Lakes area.”

Bowman said though a loan is just a tool, Bay Bank’s strengths lie in helping people prepare to qualify for one.

The bank, he said, provides a free pre-approval service and supports customers in becoming loan-ready.

Once a loan is issued, Bowman said the bank remains accessible – ensuring clients can speak directly to staff rather than navigating automated systems. 

“I hope we have kept to the vision of the original founder’s idea of change and servicing the community,” he said. “By updating the strategic vision and implementing change, we know we’re just scratching the surface – there’s still a lot to be done to get people into homes. It takes a long time to see progress.”

Bowman said the team at Bay Bank gauges its success by the Tribal communities it has served and the homes and businesses it has supported over the last 30 years.

He said he believes the bank’s impact will only grow stronger in the decades ahead.

A focus on being supportive

Bowman said Bay Bank’s programs are specifically designed to support low- to moderate-income and Native communities.

He said a significant portion of the bank’s lending includes used car loans and small-dollar loans below $2,500, providing important financial access to people with diverse credit backgrounds.

Bowman said he believes real change happens when banks support those with lower credit scores, who frequently face hurdles in accessing credit.

This, he said, is where Bay Bank shines.

Bowman said his reasoning is straightforward: From a product perspective, customers with lower incomes or credit scores have the same credit needs as any other consumer.

“As a bank, we service all income levels, of course,” he said. “We’re proud to help as many people as we can, and one of the best ways to do that is with consumer loans.”

To celebrate its 30th anniversary and show support for the community, Bowman said the bank donated $3,000 to 10 local nonprofits that align with Bay Bank’s mission.

He said the $30,000 donation was symbolic – serving as a gesture of gratitude to the local community and a way to support the ongoing work of each nonprofit.

More than just mortgages

Bowman said Bay Bank’s focus on community projects extends beyond housing.

He said they also include financing multi-family apartment buildings, gas stations and the construction or expansion of medical clinics.

Often, Bowman said the biggest and most consistent impact comes from the “small” things – the everyday projects that serve the community. 

“It’s the projects that fly under the radar, the projects people don’t write about in papers that continue to make an impact,” he said. “People see the big buildings and think ‘wow,’ but you need both, because both are impactful.”

An example of this, Bowman said, is the Oneida Small Business Project 2000 (OSB) – which has invested more than $5 million into more than 100 Oneida entrepreneurs.

He said the program provides vital support to help small business owners succeed and boost local economic growth – which also serves as a source of pride for Bowman. “Many times, the OSB loan is the very first loan for that business, and it gives them an opportunity to grow,” he said. “To have a tool that helps people launch and grow – it’s like recycling in a way, the dollars get recirculated into the local economy. When it gets paid back, you’re reinvesting it back into the same backyard. So, it’s transformative and to see the business grow and know that seed capital came from us is exciting.”

To learn more about Bay Bank, head to baybankgb.com.