Principal Financial Group Inc. reported that its second-quarter earnings fell 11.9% from a year earlier, to $210.5 million, or 76 cents a share.
The Des Moines life insurer, which announced the results Monday, blamed the decline on lower life and health insurance earnings.
Assets under management rose 14%, to $206 billion.
For the Denver-based parent company of Sunflower Bank, the first quarter of 2026 was not entirely sunny. Loans grew dramatically, but so did charge-offs, with the lender charging off two credits worth more than $10 million.
The investment firm's Alternatives division comprised a majority of the online lender's $60 million Series C funding round.
While stablecoins aren't widely used for payments, banks still have a role to play in leading the market.
Celtic Bank is the latest large Small Business Administration lender to turn to an AI origination platform for smaller-dollar loans. Live Oak Bank, which has been piloting the same platform, says it's poised for big growth in the same segment.
The Federal Open Market Committee's April meeting — likely Federal Reserve Chair Jerome Powell's last — is unanimously expected to keep interest rates steady, but questions about energy, inflation and the upcoming transition in leadership still loom.
There's been an onslaught of nonbank financial technology company charter applications and approvals already this year.
