Principal Bank

Overview / Commentary
655 9Th St
Des Moines, IA 50392

Principal Bank is headquartered in Des Moines and is the largest bank in the state of Iowa. It is also the 180th largest bank in the nation. It was established in 1998 and as of June of 2022, it had grown to 642 employees at 1 location. Principal Bank's savings rates are 3X the national average, and it has a B+ health rating.

Reviews (1)

Want To Lose Money? Bank Here.

Posted by: |

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 Grade Components

FDIC Certificate #34507
Year Established1998
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.9%
Return on Equity - YTD17.86%
Annual Interest Income$77.2MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$8.08B$4.78B
LoansQ2 2022vs Q2 2021$1.84B$1.21B
DepositsQ2 2022vs Q2 2021$7.70B$4.29B
Equity CapitalQ2 2022vs Q2 2021$260.5MM$402.8MM
Loan Loss AllowanceQ2 2022vs Q2 2021$1.3MM$3.0MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$4.8MM$4.2MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Principal Bank Savings Account Rates

1.31%--Assured Savings

Principal Bank Money Market Rates

1.56%*$250k*-Money Market IRA
OTHER TIERS: 1.26% Up to $250 | 1.31% $250 - $10k | 1.36% $10k - $25k | 1.40% $25k - $50k | 1.46% $50k - $100k | 1.51% $100k - $250k

Principal Bank IRA Rates

3.51%--60 Month Standard IRA
3.30%--36 Month Standard IRA
1.66%--48 Month Standard IRA
1.36%--24 Month Standard IRA
1.11%--52 Month Liquid IRA
1.06%--12 Month Standard IRA
1.00%--33 Month Liquid IRA

Principal Bank Locations
Principal Bank655 9th StDes Moines, IA 50392

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