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Q2 2026 · read from the 30 June 2026 Call Report · United States · Plains · Iowa, the state note

Principal Bank

Des Moines, Iowa · $9.84B in assets · beside the 11 other the Plains states banks between $3B and $10B (the state alone holds too few in the band to rank)

The filing

32.3%
Loans / deposits
1st of 12
5.0%
Equity / assets
12th of 12
0.0%
CRE / loans
1st of 12

Principal Bank is the largest of the 12 the Plains states banks nearest its size between $3B and $10B, with $9.84B in assets at 30 June 2026. Loans are 32.3% of deposits, the lowest in the cohort against a median of 86.4%, and equity is 5.0% of assets, the lowest in the cohort. Loans grew +13.5% in the year, 2nd of 12, and deposits grew 10.5%; the cohort's median loan growth is +7.3%.

Noncurrent loans are 0.44% of the book, 5th of 12 against a median of 0.61%; 0.28% is 30 to 89 days past due, and the allowance covers them 0.6 times. Commercial real estate is 0.0% of loans, the lowest in the cohort against a median of 34.5%, and 0% of capital, below the 300% screen, with construction at 0% against the 100% screen.

Return on assets is 1.60%, 4th of 12 against a median of 1.35%, on an efficiency ratio of 38.0%, the lowest in the cohort. Five years ago it was 1.48%. The question this shape raises is what the liquidity earns, and what a rate path does to the securities book and the deposit base.

Commercial real estate, share of loansPlains states banks $3B to $10B · 30 June 2026 · lower is stronger, listed first
median 34.5% PB Principal Bank 0.0% PN Pathward National Association 0.8% CF Capitol Federal Savings Bank 23.1% FB First Bank 30.2% FI First International Bank & Trust 33.2% BB Bcorp Bank National Association 33.6% IB Intrust Bank National Association 35.5% CF Choice Financial Group 36.2% UB Union Bank & Trust Co. 36.4% EB Equity Bank 36.5% PB Pinnacle Bank 41.8% BT Bankers Trust Co. 53.1%
Loans, year over yearPlains states banks $3B to $10B · 30 June 2026 · no better direction, largest first
median +7.3% EB Equity Bank +50.2% PB Principal Bank +13.5% FI First International Bank & Trust +9.4% PN Pathward National Association +8.6% FB First Bank +7.8% PB Pinnacle Bank +7.7% BB Bcorp Bank National Association +7.0% UB Union Bank & Trust Co. +5.0% IB Intrust Bank National Association +3.6% CF Capitol Federal Savings Bank +1.8% BT Bankers Trust Co. +1.5% CF Choice Financial Group +0.4%

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 2 CBLR filers; owner-occupied excluded; bold marks a screen met
Principal BankRankCohort median
Total CRE against capital, the 300% screen0%1st of 12220%
Construction against capital, the 100% screen0%1st of 1236%
Construction and land development, share of loans0.0%1st of 127.1%
Non-owner-occupied nonfarm nonresidential, share of loans0.0%1st of 1219.1%
Total CRE, the guidance definition, share of loans0.0%1st of 1234.5%
CRE growth over 36 months, the third prongno record+28.6%
Commercial real estate against capital, the 300% screenPlains states banks $3B to $10B · 30 June 2026 · lower is stronger, listed first
median 220% PB Principal Bank 0% PN Pathward National Association 5% CF Choice Financial Group 174% FB First Bank 184% IB Intrust Bank National Association 189% CF Capitol Federal Savings Bank 204% UB Union Bank & Trust Co. 235% EB Equity Bank 237% BB Bcorp Bank National Association 254% FI First International Bank & Trust 273% PB Pinnacle Bank 282% BT Bankers Trust Co. 360%
CRE growth over 36 months, the guidance's third prongPlains states banks $3B to $10B · 30 June 2026 · lower is stronger, listed first
median +28.6% PN Pathward National Association -67.7% FI First International Bank & Trust +8.6% BB Bcorp Bank National Association +11.3% PB Pinnacle Bank +14.5% UB Union Bank & Trust Co. +15.1% IB Intrust Bank National Association +28.6% BT Bankers Trust Co. +28.7% FB First Bank +30.4% CF Choice Financial Group +39.1% EB Equity Bank +69.3% CF Capitol Federal Savings Bank +94.7%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Principal Bank$9.84B1.6%38.0%0.44%0.00%0.2%32.3%5.0%
Capitol Federal Savings Bank$9.68B0.9%52.8%0.62%0.00%0.3%118.5%10.1%
Union Bank & Trust Co.$9.24B1.6%54.7%0.32%0.10%1.6%93.1%10.8%
Bcorp Bank National Association$9.21B2.9%41.3%1.33%1.57%0.9%96.0%9.6%
Pinnacle Bank$9.18B1.4%46.3%0.07%0.00%1.1%84.0%9.7%
Bankers Trust Co.$7.83B1.0%58.5%0.31%0.07%1.4%89.7%9.5%
Equity Bank$7.71B1.4%58.5%1.18%0.11%1.2%85.4%11.6%
Pathward National Association$7.31B2.7%58.3%5.28%0.84%2.1%87.4%12.1%
Intrust Bank National Association$6.76B1.3%59.3%0.60%0.04%1.2%73.2%7.4%
First Bank$6.65B0.7%73.7%0.27%0.17%1.0%73.0%8.4%
Choice Financial Group$6.38B1.3%55.3%0.68%0.30%1.2%62.7%11.3%
First International Bank & Trust$6.18B1.2%71.0%1.54%0.20%1.0%91.3%8.4%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Principal BankCohort median
20212026Change20212026Change
Loans$1.21B$2.99B+147%$3.69B$5.31B+44%
Deposits$4.29B$9.26B+116%$5.46B$6.52B+19%
NPA / loans0.35%0.44%+0.09 pts0.51%0.61%+0.10 pts
Efficiency23.1%38.0%+14.8 pts57.9%56.8%-1.1 pts
ROA1.48%1.60%+0.12 pts1.49%1.35%-0.14 pts

This read was prepared for Principal Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on Principal Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort Plains states banks $3B to $10B
Institution www.principal.com/bank

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by New England and asset band. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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