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Home > Company Index > Banking > Banking - Midwest > Wells Financial Corp.

Wells Financial Corp.
Nasdaq: WEFC
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 PROFILE
Wells Financial is the holding company for Wells Federal Bank, which operates eight branches in the agriculturally rich counties of southern Minnesota. Founded in 1934, the bank targets individuals and local business customers, offering standard retail banking services. Lending activities consist primarily of residential mortgages (almost 80% of all loans), as well as commercial real estate, home equity, consumer, and commercial loans. Wells sells some of its mortgage loans, retaining servicing. The bank has two subsidiaries: Wells Insurance Agency, which offers life, health, casualty, and business insurance and annuities, and Greater Minnesota Mortgage, which originates mortgages for resale.

 COMPETITION
TCF Financial Corporation (TCB)
Wells Fargo & Company (WFC)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 17.70
1-Yr. Sales Growth: 11.3%
Employees: 79
Revenue per employee: $224,050.63

 KEY PEOPLE
• Lawrence H. Kruse
    CEO
• James D. Moll
    CFO

 CONTACT INFO
53 1st St. SW
Wells, MN 56097
US
Phone: 507-553-3151
Fax: 507-553-6295

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