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 2024, it had grown to 704 employees at 1 location. Principal Bank 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 | 704 |
Primary Regulator | OCC |
Profit Margin | |
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Return on Assets - YTD | 1.26% |
Return on Equity - YTD | 27.28% |
Annual Interest Income | $195.3MM |
Assets and Liabilities | ||
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Assets | Q2 2024vs Q2 2023 | $8.69B$8.01B |
Loans | Q2 2024vs Q2 2023 | $2.32B$2.38B |
Deposits | Q2 2024vs Q2 2023 | $8.2B$7.67B |
Equity Capital | Q2 2024vs Q2 2023 | $395.3MM$277MM |
Loan Loss Allowance | Q2 2024vs Q2 2023 | $7.5MM$4.9MM |
Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $11.2MM$10.3MM |
Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |
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Principal Bank Locations | ||
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Principal Bank | 655 9th St | Des Moines, IA 50392 |