Principal Bank in Des Moines, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Principal Bank in Des Moines, Iowa (IA)
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Principal Bank - Overview

  • General
  • FDIC Certificate #: 34507
    Status: Active
    Federal Reserve ID: 2654911
    Date Established: Febuary 12, 1998
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 1 (Domestic: 1, Interstate: No)
    OTS Docket #: 14225
    FDIC's unique #: 57785
    Numeric code: 33
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: Febuary 12, 1998
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 6200 Park Ave, Des Moines, IA 50321
    County: Polk
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Des Moines
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): Des Moines, IA (#2120)
    Combined Statistical Area (CSA): Des Moines-Newton-Pella, IA (#218)
    Core Based Statistical Area (CBSA): Des Moines-West Des Moines, IA (#19780)
    CBSA Metro Statistical Area: Des Moines-West Des Moines, IA (#19780)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $2,410.2 mil
    Equity capital: $208.8 mil
    Deposits held in domestic offices: $2,193.3 mil
    Return on assets (ROA): 0.91% ($21.9 mil)
    Quarterly return on assets: 1.19% ($28.7 mil)
    Return on Equity (ROE): 11.07% ($23.1 mil)
    Quarterly return on equity: 13.88% ($29.0 mil)
    Net income: $21.8 mil
    Quarterly Net income: $7.2 mil
    Pretax return on assets: 1.40% ($33,742.1 mil)
    Quarterly Pretax return on assets: 1.79% ($43,141.7 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 98Total employees (full-time equivalent)
  • $2,410,151Total assets
  • $149,873Cash and due from depository institutions
  • $146,895Interest-bearing balances
  • $939,640Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $1,267,110Net loans & leases
  • $40,192Loan loss allowance
  • $0Trading account assets
  • $362Bank premises and fixed assets
  • $9,375Other real estate owned
  • $0Goodwill and other intangibles
  • $2,410,151Life insurance assets
  • $43,791All other assets
  • $2,201,303Total liabilities and capital
  • $2,193,300Total liabilities
  • $2,188,022Total deposits
  • $2,193,300Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $8,003Subordinated debt
  • $208,848All other liabilities
  • $208,848Total equity capital
  • $208,848Total bank equity capital
  • $0Perpetual preferred stock
  • $3,400Common stock
  • $165,281Surplus
  • $40,167Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $23,997Income earned, not collected on loans
  • $0Earning assets
  • $12,312Long-term assets (5+ years)
  • $2,353,645Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $2,401,686Volatile liabilities
  • $2,410,375Insider loans
  • $1,358,867FHLB advances
  • $2,390,012Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $196,282Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $66,542Restructured Loans and leases
  • $200Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $93,785Total interest income
  • $19,221Total interest expense
  • $74,564Net interest income
  • $31,348Provision for loan and lease losses
  • $15,407Total noninterest income
  • $0Fiduciary activities
  • $921Service charges on deposit accounts
  • $0Trading account gains & fees
  • $14,486Additional noninterest income
  • $25,123Total noninterest expense
  • $8,401Salaries and employee benefits
  • $3,576Premises and equipment expense
  • $13,146Additional noninterest expense
  • $33,500Pre-tax net operating income
  • $124Securities gains (losses)
  • $11,846Applicable income taxes
  • $21,778Income before extraordinary items
  • $0Extraordinary gains - net
  • $21,778Net income attributable to bank
  • $0Net charge-offs
  • $21,778Cash dividends
  • $31,296Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.99%Yield on earning assets
  • 0.82%Cost of funding earning assets
  • 3.17%Net interest margin
  • 0.66%Noninterest income to earning assets
  • 1.07%Noninterest expense to earning assets
  • 0.90%Net operating income to assets
  • 0.91%Return on assets (ROA)
  • 1.40%Pretax return on assets
  • 11.07%Return on equity (ROE)
  • 11.07%Retained earnings to average equity (YTD only)
  • 2.35%Net charge-offs to loans
  • 100.17%Credit loss provision to net charge-offs
  • 2.07%Efficiency ratio
  • 27,923Assets per employee
  • 24.59%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.07%Loss allowance to noncurrent loans
  • 167.49%Noncurrent assets plus other real estate owned to assets
  • 1.38%Noncurrent loans to loans
  • 1.84%Net loans and leases to deposits
  • 57.77%Net loans and leases to core deposits
  • 60.69%Equity capital to assets
  • 8.67%Core capital (leverage) ratio
  • 8.21%Tier 1 risk-based capital ratio
  • 14.44%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $2,401,686Average earning assets
  • $196,751Average equity
  • $2,348,669Average loans

List of branches

  • 1 Iowa Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    057785Principal Bank6200 Park Ave, Des Moines, IA 50321Febuary 12, 1998Full Service Brick and Mortar

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