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March 31, 2015 7:03 PM ET

Banks

Company Overview of Principal Bank

Company Overview

Principal Bank, a limited purpose trust savings bank, provides banking products and services through the Internet and by telephone with personal bankers. Its banking products include safe harbor or plan term individual retirement accounts (IRAs) for individuals; safe harbor or plan term IRAs for plan sponsors and financial professionals; traditional IRAs; and Roth IRAs. The company was founded in 1998 and is based in Des Moines, Iowa. Principal Bank operates as a subsidiary of Principal Holding Company, LLC.

711 High Street

Des Moines, IA 50392-0001

United States

Founded in 1998

Phone:

515-247-5111

Fax:

515-235-5703

Key Executives for Principal Bank

Chairman and Chief Executive Officer
President
Age: 52
Chief Marketing Officer
Chief Financial Officer and Vice President
Chief Information Officer and Vice President
Compensation as of Fiscal Year 2014.

Principal Bank Key Developments

Principal Bank and BofI Federal Bank Announce Strategic Agreement

Principal Bank and BofI Federal Bank entered a strategic agreement to transfer Principal Bank's individual checking accounts and non-IRA savings, money market and CD accounts to BofI Federal Bank. The transfer is expected to finalize in the next several months. Financial terms are not disclosed.

Principal Bank Enters into Strategic Agreement with BofI Holding, Inc

Principal Bank and BofI Federal Bank entered a strategic agreement to transfer Principal Bank's individual checking accounts and non-IRA savings, money market and CD accounts to BofI Federal Bank. The transfer is expected to finalize in the next several months. Financial terms are not disclosed. The transfer of some bank deposits is the next important step in Principal Bank's transformation to a limited purpose trust institution. After the transfer, Principal Bank will continue to provide services to support the Principal Financial Group retirement business.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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