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Tomahawk Community Bank loans review

This local lender packs a punch despite only having two branches.

Bottom line: Despite having only three branches, Tomahawk delivers more than what you might find at a larger community bank.

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Business short-term and long-term loans, business lines of credit, commercial real estate loans, SBA loans, personal loans, auto loans, recreational loans, share loans, student loans, mortgages

Types of loans available


Online applications


Types of loans availableBusiness short-term and long-term loans, business lines of credit, commercial real estate loans, SBA loans, personal loans, auto loans, recreational loans, share loans, student loans, mortgages
Online applicationsYes
Number of branches2
Branch hours8:30 a.m. to 4:30 p.m. on weekdays, 7:30 a.m. to 12 p.m. or by appointment Saturdays
Customer service hoursNot stated
Customer service optionsPhone, form email, fax, mail
Mobile appYes
Routing number291571348

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

Tomahawk Community Bank is small — even for a community bank. But it still goes beyond offering your standard loan options, in part by partnering with Sallie Mae to offer student loans. It also has online applications for personal loans, though you’ll have to visit one of its two branches for business financing.

With a bank of this size, it’s best to ask around your community before you sign up. You won’t find online reviews, but it’s possible other business in your area can share their experiences.

What is Tomahawk Community Bank?

Tomahawk Community Bank (TCB) is three-branch community bank with locations in Tomahawk and Merrill, Wisconsin — though one of the branches exclusively serves students, faculty and staff of the Tomahawk school district. It's a chartered state savings bank that was founded with the intent of serving the businesses and people of Tomahawk.

Types of loans available at Tomahawk Community Bank

You can find the following types of financing for your business and yourself at this local Wisconsin bank.

  • Commercial lines of credit and short-term loans. Access to a one-time small loan or continual access to cash as needed to cover working capital and seasonal expenses.
  • Commercial long-term loans. Financing for a major project or purpose, such as equipment or buying out another business.
  • SBA loans. TCB offers financing backed by the Small Business Administration (SBA), though it doesn't specify which programs are available.
  • Commercial real estate loans. Funding to buy property, construction, remodeling and other real estate-related expenses.
  • Consumer loans. Unsecured term loans to pay for a large personal expense, like a wedding or consolidate debt.
  • Consumer vehicle loans. TCB offers a range of car loans — plus a calculator you can use to see how much different types of loans might cost you.
  • Recreational loans. Financing for ATVs, RVs, motorcycles and other recreational vehicles.
  • Share loans. A secured personal loan backed by the balance of a CD, checking or savings account with a rate of 2% over the deposit account rate.
  • Student loans. While TCB doesn't offer these loans directly, it does provide expert advice and directs you toward partner lender Sallie Mae.
  • Home loans. A variety of mortgages and home equity financing options are available through this local bank.

How borrowing with Tomahawk Community Bank works

TCB offers online applications for some personal loans. But business owners have to set up an appointment with a loan officer to get started on the application. Typically the loan officer will ask you to bring your business financial statements and balance sheets to your first meeting so they can get a gist of what your business can benefit from the most.

You can set up an appointment by reaching out to your local branch.


  • Offers online applications
  • All branches open for appointments on Saturday
  • Mobile app


  • Takes five days to get response to online application
  • Only two locations open to everyone

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Tomahawk Community Bank reviews and complaints

BBB accredited No
BBB rating NR
Yelp 1 out of 5 stars, based on 1 customer reviews
Glassdoor 5 out of 5 stars, based on 1 customer reviews
Customer reviews verified as of 30 November 2020

TCB only has a few online reviews — the fact that any exist is surprising for a bank this small.

Ask other Tomahawk or Merrill business owners in your industry to see if any of them have borrowed from TCB — a good habit to get into, anyway. Fellow business owners will likely give you more detailed reviews than what you'll find on the Better Business Bureau.

What do employees say?

TCB also doesn't have enough employee reviews to make a judgment on morale — which is key to a long-term banking relationship. This is something you can suss out when you meet with a loan officer or when you talk to other business owners.

More products available at this bank

Having multiple accounts with TCB can make it easier to get approved for a loan and keeps your personal and business finances in one place. You might want to consider signing up for some of the following accounts if you choose this lender.

  • Checking accounts — including an option for nonprofits
  • CDs
  • HSAs
  • IRAs
  • Money Market accounts
  • Savings accounts

It also has a special spot in its branch lobbies to showcase a different customer's business each week.

Tomahawk Community Bank branches

Here's how to get in touch with TCB's two public-facing branches.

Tomahawk Branch

  • Phone: 715-453-2144
  • Address: 15 East Wisconsin Avenue, Tomahawk, WI 54487

Merrill Branch

  • Phone: 715-536-7133
  • Address: 907 East Main Street, Merrill, WI 54452

Tomahawk Community Bank history

TCB was founded in March 1920 as Tomahawk Building and Loan — it changed its name to Tomahawk Community Bank in 1993 after it received a state charter.

It had one main office until it acquired Merrill Federal Savings and Loan Association in 2016. It's the second branch of TCB and is now known as Merrill Community Bank.

Tomahawk Community Bank doesn't appear to have any plans to open new offices.

Compare TCB to our top picks for business loans this year.

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