Overview / Commentary
Principal Bank is headquartered in Des Moines and is the 3rd largest bank in the state of Iowa. It is also the 274th largest bank in the nation. It was established in 1998 and as of June of 2021, it had grown to 247 employees at 1 location. Principal Bank has an A health rating.
Reviews (1)
Want To Lose Money? Bank Here.
Posted by: mgbunlv98 | Feb 4, 2021
My company 401K turned into an IRA with Principal bank. I began getting my statements and noticed the fee was $15 but the interest was $.80 cents. The interest rate is only .10%. When they could do no better I had them roll it over to another established IRA and guess what? They charged me a $10 "check" fee, even though the funds get sent electronically. What a SCAM. DO NOT put your money here, you will end up going backwards.
Health
A
Data as of Q2 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34507 |
| Year Established | 1998 |
| Employees | 247 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.47% |
| Return on Equity - YTD | 17.54% |
| Annual Interest Income | $46.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2021vs Q2 2020 | $4.78B$4.25B |
| Loans | Q2 2021vs Q2 2020 | $1.21B$1.27B |
| Deposits | Q2 2021vs Q2 2020 | $4.29B$3.84B |
| Equity Capital | Q2 2021vs Q2 2020 | $402.8MM$337.1MM |
| Loan Loss Allowance | Q2 2021vs Q2 2020 | $3.0MM$4.6MM |
| Unbacked Noncurrent Loans | Q2 2021vs Q2 2020 | $4.2MM$6.5MM |
| Real Estate Owned | Q2 2021vs Q2 2020 | $0$0 |