| Business Summary | | Wells
Financial
Corp.
is
a
savings
and
loan
holding
company
that
owns
all
of
the
issued
and
outstanding
common
stock
of
Wells
Federal
Bank
(the
Bank).
The
primary
activity
of
the
Company
is
directing
and
planning
the
activities
of
the
Bank,
its
primary
asset.
As
of
December
31,
2000,
the
remainder
of
the
assets
of
the
Company
were
maintained
in
the
form
of
a
loan
to
an
employee
stock
ownership
plan
that
was
established
for
the
benefit
of
the
Bank's
employees,
deposits
in
interest-bearing
accounts
with
other
financial
institutions
and
selected
investments.
As
of
December
31,
2000,
the
Company
had
total
assets
of
$221.8
million,
total
deposits
of
$163.6
million
and
stockholders'
equity
of
$22.3
million,
or
10.1%
of
total
assets. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | WEFC,
a
holding
company
for
Wells
Federal
Bank,
a
federally
chartered
stock
S&L
bank
in
Wells,
MN.
For
the
six
months
ended
6/30/01,
total
interest
income
increased
9%
to
$8.3
million.
Net
interest
income
after
loan
loss
prov.
rose
13%
to
$3.6
million.
Net
income
increased
54%
to
$1.2
million.
Net
interest
income
reflects
higher
loans
and
a
decrease
in
interest
paid
on
deposits
and
borrowings.
Earnings
reflect
higher
gains
on
sale
of
loans
and
higher
fees
on
loan
originations. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Lawrence Kruse, 68 Chairman,
Pres and CEO | $161K | James Moll, 50 CFO,
Chief Accounting Officer, Treasurer | -- | Gerald Bastian, 60 VP | 139K | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|