Principal Bank

Overview / Commentary
616 10th Street
Des Moines, IA 50309

Principal Bank is headquartered in Des Moines and is the 3rd largest bank in the state of Iowa. It is also the 275th largest bank in the nation. It was established in 1998 and as of December of 2020, it had grown to 157 employees at 1 location. Principal Bank has an A 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 - YTD0.89%
Return on Equity - YTD11.27%
Annual Interest Income$95.6MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$4.52B$3.83B
LoansQ4 2020vs Q4 2019$1.19B$1.09B
DepositsQ4 2020vs Q4 2019$4.08B$3.51B
Equity CapitalQ4 2020vs Q4 2019$389.7MM$294.0MM
Loan Loss AllowanceQ4 2020vs Q4 2019$5.6MM$1.8MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$16.7MM$5.6MM
Real Estate OwnedQ4 2020vs Q4 2019$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

0.10%--Assured Savings
0.10%--High Yield IRA

Principal Bank Money Market Rates

0.25%*$250k*-Money Market IRA
OTHER TIERS: 0.05% Up to $250 | 0.10% $250 - $25k | 0.15% $25k - $100k | 0.20% $100k - $250k

Principal Bank IRA Rates

0.60%--60 Month Standard IRA
0.50%--48 Month Standard IRA
0.40%--36 Month Standard IRA
0.20%--24 Month Standard IRA
0.20%--52 Month Liquid IRA
0.10%--12 Month Standard IRA
0.10%--33 Month Liquid IRA

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

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