Principal Bank
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Data as of · sourced from FFIEC call reports. How we update
Principal Bank is an FDIC-insured savings institution headquartered in Des Moines, IA, established in 1998 (FDIC certificate 34507), and it is supervised by the OCC. At Q2 2026 it reported total assets of $9.84B, up 9.7% from Q2 2025, the largest of 225 banks headquartered in Iowa. Its CET1 capital ratio was 14.91% at Q2 2026, comfortably above the 7% level required once the capital conservation buffer is included.
- Charter
- Savings institution
- Regulator
- OCC
- Deposit insurance
- FDIC
- FDIC certificate
- 34507
- Headquarters
- Des Moines, IA
- Established
- 1998
- Total assets, Q2 2026
- $9.84B
- Assets vs Q2 2025
- +9.7%
- CET1 ratio, Q2 2026
- 14.91%
- Domestic offices
- 1 FDIC institution directory, current count
- Asset rank in state
- 1st of 225 in Iowa
Principal Bank is one of the more profitable banks of its size. Its balance sheet stood at $9.8 billion at June 30, 2026, up 9.7% from a year earlier; it is based in Des Moines, Iowa. It returns 33.0% a year on shareholders' equity, 2.6 times the median of 12.6% for the 895 banks with $1 billion to $10 billion in assets. It also spends about 38 cents to bring in each dollar of revenue, lower than about 9 in 10 banks its size (median 58 cents).
Earnings jumped: net income for the quarter was $40 million, 75% above the same quarter a year earlier. Paper losses on its bond portfolio are shrinking: unrealized losses of $326 million equal 45% of Tier 1 capital, down from 53% a year earlier. Its margin is thin by comparison: it keeps 2.35 cents of net interest income on every dollar of earning assets, lower than about 9 in 10 banks its size (median 3.71 cents).
As of June 30, 2026, Principal Bank reported a CET1 capital ratio of 14.91%, a return on assets of 1.59%, a nonperforming-loan ratio of 0.44% and a Texas ratio of 2.62%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, Principal Bank is the largest of the 225 banks headquartered in Iowa. Quarter on quarter (Q1 2026 to Q2 2026), its total assets rose 2.4% to $9.84B, loans rose 4.1% and deposits rose 2.3%. Its loan book on June 30, 2026 was led by 1-4 family residential loans, at 100.2% of total loans. Its one office in the FDIC Summary of Deposits is in Des Moines, IA. By the capital ratios in its Q2 2026 call report, Principal Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 750 Park Street, Des Moines, IA 50309
- County
- Polk
- Metro Area
- Des Moines-West Des Moines, IA
- Charter
- Federal savings bank, federal charter, OCC-supervised (pre-2011 OTS)
- Primary Regulator
- OCC
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- —
- Federal Reserve district
- District 7, Chicago
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 041
- Established
- February 12, 1998
- Domestic offices
- 1 FDIC institution directory, current count
- Employees (FTE)
- 627
- Domestic deposits
- $9.26B
- Allowance for credit losses
- $7.4M
- Net charge-offs (YTD)
- $0
- Average total assets
- $10.12B
- Average total loans
- $2.95B
- Average interest-bearing deposits
- $9.23B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- No
- FDIC-insured since
- February 12, 1998
- FDIC Cert
- 34507
- Fed RSSD
- 2654911
- Website
- www.principal.com/bank →
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
Over the 12 quarters to Q2 2026, Principal Bank's total assets ran between $7.91B (Q3 2023) and $9.84B (Q2 2026), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$9.84B total assets against $8.96B; $9.34B total liabilities against $8.53B.
$2.99B net loans and leases against $2.63B; $9.26B total deposits against $8.38B.
$6.21B securities against $5.71B; $341.7M cash and balances due against $437.0M.
$99.2M total interest income against $94.3M; $40.8M total interest expense against $41.9M.
$58.4M net interest income against $52.4M.
$30.3M total noninterest income against $14.6M; $33.4M total noninterest expense against $34.4M.
$920K provision for credit losses against $967K.
$40.3M net income against $23.0M.
1.59% return on assets against 0.98%; 2.35% net interest margin against 2.32%.
14.91% CET1 capital ratio against 16.09%; 7.13% tier 1 leverage ratio against 7.27%.
Inside the full Principal Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freePrincipal Bank rankings
Its closest position to the top of a national ranking is 133 of 3,606, for efficiency ratio; its furthest is 1,990 of 3,640, for Texas Ratio.
Metric pages for Principal Bank: Uninsured deposits, Efficiency ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.98% (Q2 2025) to 1.90% (Q4 2024) and its net interest margin ran from 2.23% (Q3 2025) to 2.52% (Q3 2024).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 14.91% | 1.59% | 0.44% | 2.62% | 2.35% |
| Q1 2026 | 15.24% | 1.66% | 0.41% | 2.44% | 2.34% |
| Q4 2025 | 15.46% | 1.56% | 0.47% | 2.67% | 2.39% |
| Q3 2025 | 15.76% | 1.13% | 0.44% | 2.46% | 2.23% |
| Q2 2025 | 16.09% | 0.98% | 0.43% | 2.55% | 2.32% |
| Q1 2025 | 16.15% | 1.01% | 0.37% | 2.25% | 2.43% |
| Q4 2024 | 16.19% | 1.90% | 0.43% | 2.65% | 2.25% |
| Q3 2024 | 17.24% | 1.04% | 0.58% | 3.03% | 2.52% |
Swipe the table sideways to see every column.
Branch Network
View the branch → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Principal Bank (main office) | Des Moines , IA | 50309 | $9.26B |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 7.0% of deposits in IA, rank 1 of 261 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Not on file
- Enforcement actions, Mortgage lending (HMDA), SBA 7(a) lending, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Principal Bank
What are Principal Bank's total assets?
As of the Q2 2026 filing, Principal Bank reported total assets of $9.84 billion in its FFIEC call report.
Where is Principal Bank headquartered?
It is headquartered in Des Moines, IA, United States.
When was Principal Bank founded?
It was established in 1998, per the FDIC institution directory.
Is Principal Bank FDIC-insured?
Yes. It is an FDIC-insured savings institution (FDIC Certificate #34507). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Principal Bank?
Principal Bank's primary federal regulator is the OCC.
What is Principal Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 14.91% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does Principal Bank operate?
It operates 1 domestic office, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Principal Bank's Texas Ratio?
Its Texas Ratio is 2.62% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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