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 184th largest bank in the nation. It was established in 1998 and as of March of 2023, it had grown to 653 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 - YTD1.38%
Return on Equity - YTD48.15%
Annual Interest Income$84.9MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$8.15B$7.90B
LoansQ1 2023vs Q1 2022$2.39B$1.76B
DepositsQ1 2023vs Q1 2022$7.80B$7.48B
Equity CapitalQ1 2023vs Q1 2022$272.0MM$379.5MM
Loan Loss AllowanceQ1 2023vs Q1 2022$4.8MM$1.4MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$13.6MM$6.5MM
Real Estate OwnedQ1 2023vs Q1 2022$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

1.49%--Assured Savings

Principal Bank Money Market Rates

1.74%*$250k*-Money Market IRA
OTHER TIERS: 1.44% Up to $250 | 1.49% $250 - $10k | 1.54% $10k - $25k | 1.59% $25k - $50k | 1.64% $50k - $100k | 1.69% $100k - $250k

Principal Bank IRA Rates

3.61%--60 Month Standard IRA
3.51%--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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