Principal Bank
Principal Bank reported total assets of $9.8 bn at Q2 2026, up 9.7% on a year earlier, the 162nd largest of 497 banks in our US coverage. The CET1 capital ratio at Principal Bank was 14.91%, and the uninsured share of Principal Bank was 45.59%. Source: FDIC Call Reports.
Key takeaways
- On efficiency ratio, Principal Bank climbed from 147th to 49th among 500 US banks between and (1 = lowest; FDIC Call Reports).
- Principal Bank reports one of the lowest tier 1 leverage ratio readings among banks of $1 bn to $10 bn: 7.13% at , where the median of the 339 banks is 10.45% (FDIC Call Reports).
- At 33.04%, the return on equity (ROE) of Principal Bank sits in the top tenth of its size group ($1 bn to $10 bn, 339 banks), where the median is 12.68% (FDIC Call Reports).
What sets Principal Bank apart
- Among the 339 banks of $1 bn to $10 bn, few report a lower loan-to-deposit ratio than Principal Bank, at 32.24% in ; the group median is 88.61%.
- Principal Bank reports one of the lowest net interest margin readings among banks of $1 bn to $10 bn: 2.46% at , where the median of the 339 banks is 3.66%.
- The efficiency ratio of Principal Bank, 37.98% at , places Principal Bank in the bottom tenth of banks of $1 bn to $10 bn (group median 56.87%).
How large is Principal Bank?
The balance sheet of Principal Bank at : assets $9.8 bn, deposits $9.3 bn, net loans $3.0 bn (loans equal to 32.24% of deposits). Securities make up 63.1% of total assets at Principal Bank. Since , when Principal Bank held $2.3 bn, its assets grew 332.5%. In the year to , deposits at Principal Bank rose 10.5% while its total assets rose 9.7%. At , Principal Bank employed 627 full-time equivalent staff across 1 office, about $15.7 mn of assets per employee and $9.3 bn of deposits per office.
How much funding at Principal Bank is uninsured?
At Principal Bank, uninsured deposits (above the FDIC limit) made up 45.59% of domestic deposits at (+3.50 pp on a year earlier); Principal Bank ranks 128th of 500 on this measure. In dollars, Principal Bank estimated $4.2 bn of uninsured deposits.
Key facts, Q2 2026
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total deposits | $9.3 bn | +10.5% | 147th of 499 |
| Net loans and leases | $3.0 bn | +13.6% | 312th of 500 |
| Loan-to-deposit ratio | 32.24% | +0.89 pp | 485th of 500 |
| Tier 1 leverage ratio | 7.13% | -0.14 pp | 491st of 500 |
| Total risk-based capital ratio | 15.07% | -1.24 pp | 164th of 448 |
| Net interest margin | 2.46% | -0.02 pp | 463rd of 500 |
| Return on assets (ROA) | 1.68% | +0.63 pp | 103rd of 500 |
| Efficiency ratio | 37.98% | -14.17 pp | 49th of 500 (1 = lowest) |
| Unrealized gain/loss on available-for-sale securities | Loss of $325.7 mn | Narrowed by $34.3 mn | |
| Noncurrent loans to total loans | 0.44% | +0.01 pp | 163rd of 500 (1 = lowest) |
| Net charge-offs to average loans | 0.00% | +0.37 pp | 50th of 500 (1 = lowest) |
US rank of Principal Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Principal Bank: assets, deposits and loans
- Total assets $9.8bn
- Deposits $9.3bn
- Net loans $3.0bn
Capital and securities
The CET1 ratio of Principal Bank stood at 14.91% in , -1.18 pp year on year. Low and high at Principal Bank since : 11.78% () to 18.05% (). Equity capital of Principal Bank at : $493.9 mn, or 5.0% of total assets. Principal Bank also reported a total capital ratio of 15.07% for , and a tier 1 leverage ratio of 7.13%.
The available-for-sale portfolio of Principal Bank showed an unrealized loss of $325.7 mn at ; the loss narrowed by $34.3 mn over the year.
Principal Bank: capital ratios
- Total capital 15%
- CET1 15%
- Tier 1 leverage 7.1%
Principal Bank: unrealized securities gains and losses
- Available for sale -$326mn
- Held to maturity $0
Profitability and loan quality
For the year to , Principal Bank earned a return on equity of 33.04%; return on assets: 1.68%. Net interest margin at Principal Bank: 2.46%, -0.02 pp in a year. Principal Bank net income: $80.8 mn, up 73.1% year on year. The efficiency ratio of Principal Bank was 37.98%: about 38 cents cost per revenue dollar, against 54 cents at the median peer.
At , noncurrent loans were 0.44% of total loans at Principal Bank; net charge-offs: 0.00% of average loans. Gross loans and leases at Principal Bank: $3.0 bn, up 13.5% in a year.
Principal Bank: profitability
- Return on equity 33%
- Net interest margin 2.5%
- Return on assets 1.7%
Peer group of Principal Bank
The peer group of Principal Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 1 shares the charter type of Principal Bank (federal savings bank), 6 sit in the same size group ($1 bn to $10 bn) and 0 have head offices in Iowa. Against them, Principal Bank shows CET1 ratio 14.91% against a peer median of 14.00%, return on equity 33.04% against a peer median of 10.23% and uninsured deposit share 45.59% against a peer median of 30.90%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| S&T Bank | State nonmember bank | PA | $9.9 bn | 13.28% | 10.32% | 35.78% | |
| Tri Counties Bank | State nonmember bank | CA | $9.9 bn | 13.69% | 10.14% | 34.12% | |
| Byline Bank | State nonmember bank | IL | $9.9 bn | 14.00% | 12.03% | 34.11% | |
| Principal Bank | Federal savings bank | IA | $9.8 bn | 14.91% | 33.04% | 45.59% | |
| Capitol Federal Savings Bank | Federal savings bank | KS | $9.7 bn | not reported | 8.92% | 11.15% | |
| EagleBank | State member bank | MD | $9.6 bn | 14.95% | 4.50% | 27.69% | |
| RBC Bank, (Georgia) | National bank | GA | $9.6 bn | 48.11% | 23.77% | 5.51% | |
. FDIC Call Reports.
Last eight quarters
Two years at Principal Bank, to : assets +12.9%, deposits +13.1%, equity +11.5%. Staff 712 to 627.
| Metric | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $8.7 bn | $8.8 bn | $8.7 bn | $9.0 bn | $9.0 bn | $9.3 bn | $9.6 bn | $9.8 bn |
| Total deposits | $8.2 bn | $8.3 bn | $8.2 bn | $8.4 bn | $8.5 bn | $8.8 bn | $9.1 bn | $9.3 bn |
| Bank equity capital | $443.0 mn | $382.3 mn | $417.1 mn | $435.4 mn | $460.4 mn | $491.1 mn | $482.7 mn | $493.9 mn |
| CET1 ratio | 17.24% | 16.19% | 16.15% | 16.09% | 15.76% | 15.46% | 15.24% | 14.91% |
| Return on equity (ROE) | 25.55% | 30.58% | 23.66% | 22.68% | 23.21% | 25.47% | 33.27% | 33.04% |
| Uninsured share of domestic deposits | 44.16% | 41.78% | 41.45% | 42.08% | 42.15% | 43.25% | 45.49% | 45.59% |
| Full-time equivalent employees | 712 | 718 | 697 | 694 | 682 | 661 | 632 | 627 |
| Number of offices | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
FDIC Call Reports.
Mergers and acquisitions
Large one-quarter moves at Principal Bank
- Total assets at Principal Bank changed by +27.2% in the quarter to 2021-09-30, with no FDIC structure event in that quarter.
- Total assets at Principal Bank changed by +25.4% in the quarter to 2021-12-31, with no FDIC structure event in that quarter.
Questions and identifiers
What were the total assets of Principal Bank?
Principal Bank reported $9.8 bn at in its Call Report. That makes Principal Bank the 162nd largest of 497 banks in our US coverage.
Is Principal Bank profitable?
Principal Bank reported net income of $80.8 mn for the year to ; annualized return on equity: 33.04%. So yes: Principal Bank made a profit over these months.
When is data for Principal Bank next updated?
Figures from Principal Bank for are due after .
Where can I check the figures for Principal Bank?
In the FDIC BankFind Suite record for certificate 34507, and in the Call Reports of Principal Bank (RSSD ID 2654911) at the FFIEC Central Data Repository.