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.
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.
Overall | |
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FDIC Certificate # | 34507 |
Year Established | 1998 |
Employees | 642 |
Primary Regulator | OCC |
Profit Margin | |
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Return on Assets - YTD | 0.9% |
Return on Equity - YTD | 17.86% |
Annual Interest Income | $77.2MM |
Assets and Liabilities | ||
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Assets | Q2 2022vs Q2 2021 | $8.08B$4.78B |
Loans | Q2 2022vs Q2 2021 | $1.84B$1.21B |
Deposits | Q2 2022vs Q2 2021 | $7.70B$4.29B |
Equity Capital | Q2 2022vs Q2 2021 | $260.5MM$402.8MM |
Loan Loss Allowance | Q2 2022vs Q2 2021 | $1.3MM$3.0MM |
Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $4.8MM$4.2MM |
Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Principal Bank; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
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1.31% | - | - | Assured Savings |
Principal Bank Locations | ||
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Principal Bank | 655 9th St | Des Moines, IA 50392 |