Wells Federal Bank, FSB in Wells, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Wells Federal Bank, FSB in Wells, Minnesota (MN)
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Wells Federal Bank, FSB - Overview

  • General
  • FDIC Certificate #: 29141
    Status: Active
    Federal Reserve ID: 822976
    Date Established: September 01, 1934
    WWW: http://www.wellsfederal.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 10 (Domestic: 10, Interstate: No)
    OTS Docket #: 2984
    FDIC's unique #: 41975
    Numeric code: 37
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: November 17, 1934
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 53 First Streeet, S.W., Wells, MN 56097
    County: Faribault
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Mankato
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $239.5 mil
    Equity capital: $25.8 mil
    Deposits held in domestic offices: $213.1 mil
    Return on assets (ROA): 0.66% ($1.6 mil)
    Quarterly return on assets: 0.68% ($1.6 mil)
    Return on Equity (ROE): 6.24% ($1.6 mil)
    Quarterly return on equity: 6.33% ($1.6 mil)
    Net income: $1.6 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 1.02% ($2,442.6 mil)
    Quarterly Pretax return on assets: 0.93% ($2,227.1 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 82Total employees (full-time equivalent)
  • $239,475Total assets
  • $16,234Cash and due from depository institutions
  • $10,104Interest-bearing balances
  • $22,993Securities
  • $12,590Federal funds sold & reverse repurchase agreements
  • $173,267Net loans & leases
  • $1,674Loan loss allowance
  • $0Trading account assets
  • $3,398Bank premises and fixed assets
  • $4,500Other real estate owned
  • $1,776Goodwill and other intangibles
  • $239,475Life insurance assets
  • $4,717All other assets
  • $213,716Total liabilities and capital
  • $213,101Total liabilities
  • $209,789Total deposits
  • $213,101Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $615Subordinated debt
  • $25,759All other liabilities
  • $25,759Total equity capital
  • $25,759Total bank equity capital
  • $0Perpetual preferred stock
  • $10Common stock
  • $9,989Surplus
  • $15,760Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,113Income earned, not collected on loans
  • $12Earning assets
  • $1,043Long-term assets (5+ years)
  • $218,954Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $240,890Volatile liabilities
  • $240,415Insider loans
  • $166,627FHLB advances
  • $238,860Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $23,999Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $47,577Restructured Loans and leases
  • $760Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $11,054Total interest income
  • $1,907Total interest expense
  • $9,147Net interest income
  • $1,412Provision for loan and lease losses
  • $2,100Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,100Additional noninterest income
  • $8,207Total noninterest expense
  • $4,220Salaries and employee benefits
  • $1,579Premises and equipment expense
  • $2,408Additional noninterest expense
  • $1,628Pre-tax net operating income
  • $833Securities gains (losses)
  • $878Applicable income taxes
  • $1,583Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,583Net income attributable to bank
  • $0Net charge-offs
  • $1,583Cash dividends
  • $1,594Sale, conversion, retirement of capital stock, net
  • $865Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.01%Yield on earning assets
  • 0.86%Cost of funding earning assets
  • 4.15%Net interest margin
  • 0.95%Noninterest income to earning assets
  • 3.72%Noninterest expense to earning assets
  • 0.44%Net operating income to assets
  • 0.66%Return on assets (ROA)
  • 1.02%Pretax return on assets
  • 6.24%Return on equity (ROE)
  • 2.83%Retained earnings to average equity (YTD only)
  • 0.89%Net charge-offs to loans
  • 88.58%Credit loss provision to net charge-offs
  • 1.91%Efficiency ratio
  • 72,971Assets per employee
  • 2.92%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 54.64%Loss allowance to loans
  • 0.96%Loss allowance to noncurrent loans
  • 79.22%Noncurrent assets plus other real estate owned to assets
  • 2.76%Noncurrent loans to loans
  • 1.21%Net loans and leases to deposits
  • 81.31%Net loans and leases to core deposits
  • 82.10%Equity capital to assets
  • 10.76%Core capital (leverage) ratio
  • 10.53%Tier 1 risk-based capital ratio
  • 14.40%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $240,890Average earning assets
  • $25,362Average equity
  • $220,671Average loans

List of branches

  • 10 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    041975Wells Federal Bank, Fsb53 First Streeet, S.W., Wells, MN 56097September 01, 1934Full Service Brick and Mortar
    1273169Blue Earth Branch303 South Main Street, Blue Earth, MN 56013September 01, 1934Full Service Brick and Mortar
    2273170Madison East Shopping Center Branch1601 Adams St, Mankato, MN 56002September 01, 1934Full Service Brick and Mortar
    3273171Fair Mall Shopping Center Branch1015 Hwy 15 S, Fairmont, MN 56031September 01, 1934Full Service Brick and Mortar
    100273172North Mankato Branch1748 Commerce Drive, North Mankato, MN 56003September 01, 1934Full Service Brick and Mortar
    101273173Skyline Shopping Center Branch2630 Bridge Ave, Albert Lea, MN 56007June 30, 1988Full Service Brick and Mortar
    102273174St. Peter Branch1618 S Minnesota Ave, Saint Peter, MN 56082July 03, 1989Full Service Brick and Mortar
    103273175108 West Park Square Branch496 North St, Owatonna, MN 55060Febuary 01, 1997Full Service Brick and Mortar
    104495190Elmn Street Branch115 Elm St, Ste 1, Farmington, MN 55024August 19, 2003Full Service Brick and Mortar
    105495191Albert Lea - Nelson's Branch1619 West Main, Albert Lea, MN 56007Febuary 23, 2004Full Service Brick and Mortar

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