Principal Bank


Principal Bank is an FDIC insured institution headquartered at 655 9th St, Des Moines, IA 50392.
It was founded in 1998 and has approximately $9 billion in assets. Customers can open an account at one of its 1 branches.

Deposit Rates - November 3, 2024

FIXED IRA RATES APY MIN
Fixed IRA
0.25% $1
VARIABLE IRA RATES APY MIN
Var IRA
0.15% $1

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 34507
Date Established 1998
Assets $ 8.69 billion
Loans $ 2.32 billion
Deposits $ 8.20 billion
Capital $ 395.31 million

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 756.87 million
Interest-bearing balances $ 735.67 million
Total securities $ 5.38 billion
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 2.32 billion
Loan loss allowance $ 7.53 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 210.72 million
     Total Assets $ 8.29 billion

LIABILITIES
Total deposits $ 8.20 billion
      Interest-bearing deposits $ 8.20 billion
      Deposits held in domestic offices $ 8.20 billion
      % insured (estimated) 54.59%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 120.00 millionn
      Total Liabilities $ 8.29 billion
      Shareholders’ Equity $ 395.31 million

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 195.29 million
Total Interest Expense $ 95.82 million
Net interest income $ 99.48 million
Provision for loan and lease losses $ 1.91 million
Total non interest income $ 49.67 million
Total non interest expense $ 70.36 million
Pre-tax Net Operating Income $ 51.98 million

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Branches

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