PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Principal Bank

Des Moines, IA · Cert 34507

State savings bank · OCC · 1 branch

Q2 2026

$9.8BAssets
$3.0BLoans
$9.3BDeposits
$493.9MEquity
Loan mix
100%RE $2.9B0%C&I $0.0B0%Consumer $0.0BQ2 2025Q2 2026
Deposit mix
100%Interest-bearing $9.3B0%Noninterest $0.0BQ2 2025Q2 2026

NIM

4.21%Q2 ’244.02%Q2 ’253.85%Q2 ’26+6%+1%

Non-interest income vs. expense

1.52%Q2 ’241.46%Q2 ’251.31%Q2 ’26+106%-84%

Market Position · Des Moines-West Des Moines, IA · 2026 SOD (annual) · 24.4% share · #1 of 57 inst. · $9.3B of $38.0B

Executive Summary

  • Earnings: ROA of 1.68%, up 63 bps year over year; NIM at 2.28%.
  • Asset quality: problem loans at 0.44% of loans (+1 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 7.13%, down 14 bps from a year ago.
  • Funding: loans stand at 32.32% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.68%+63 bps YoY

Net Interest Margin (YTD, annualized)

2.28%+1 bps YoY

Efficiency Ratio (YTD, annualized)

37.98%-1,417 bps YoY

Tier 1 Leverage Ratio

7.13%-14 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.06%1.11%1.24%1.71%1.68%+63 bps
Return on Equity22.68%23.21%25.47%33.27%33.04%+1,036 bps
Net Interest Margin2.26%2.18%2.22%2.32%2.28%+1 bps
Efficiency Ratio52.15%50.43%47.85%38.30%37.98%-1,417 bps
Non-Interest Burden0.92%0.78%0.67%0.17%0.14%-78 bps
Growth
Asset Growth (YoY)3.16%3.43%6.13%10.56%9.74%+658 bps
Loan Growth (YoY)13.29%12.58%18.50%10.74%13.51%+23 bps
Deposit Growth (YoY)2.14%3.47%5.36%10.23%10.50%+836 bps
Asset Quality
Nonperforming Loans / Loans0.43%0.44%0.47%0.41%0.44%+1 bps
Net Charge-Offs / Loans-0.36%-0.23%-0.16%0.00%0.00%+36 bps
Allowance / Loans0.35%0.39%0.29%0.23%0.25%-10 bps
Allowance Coverage of NPLs0.8x0.9x0.6x0.5x0.6x-0.2x
Capital
Tier 1 Leverage Ratio7.27%7.09%7.22%7.22%7.13%-14 bps
Total Risk-Based Capital16.31%15.99%15.65%15.38%15.07%-124 bps
Equity / Assets4.86%5.11%5.26%5.03%5.02%+16 bps
Liquidity & Funding
Loans / Deposits31.47%31.09%32.49%31.76%32.32%+86 bps
Liquid Assets / Assets4.43%3.75%4.05%4.32%3.26%-117 bps
CRE / Total Capitaln/a0.00%0.00%0.00%n/an/a