Wells Bank Mortgage Rates, Fees & Info
Platte City, MOLEI: 549300BJ6EOJ9EF6JB96
Tax ID: 44-0482800
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Mortgage Data
Bank Data
Review & Overview
Wells Bank is a smaller bank specializing in Home Purchase and Refi loans. Wells Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kansas City, Warrensburg, St. Joseph, Maryville, and Atchison among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Wells Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
85Origination Dollar Volume (All Markets)
$19,325,000Employee count
43Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 40 | $8,140,000 | $203,500 | $0 | 0.00% |
| Warrensburg, MO (FHA|USDA|VA) | 3 | $5,195,000 | $1,731,667 | $0 | 0.00% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 25 | $3,235,000 | $129,400 | $0 | 0.00% |
| Maryville, MO (FHA|USDA|VA) | 14 | $2,420,000 | $172,857 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $280,000 | $140,000 | $0 | 0.00% |
| Atchison, KS (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 85 | $19,325,000 | $227,353 | $0 | 0.00% |
For 2018, Wells Bank's most frequently originated type of loan was Conventional, with 85 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 56 | $14,480,000 | $258,571 | $0 | 0.00% |
| Refi | 29 | $4,845,000 | $167,069 | $0 | 0.00% |
For 2018, Wells Bank's most frequently cited loan purpose was Home Purchase, with 56 originations. The 2nd most popular reason was Refi, with 29 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 85 | $19,325,000 | $227,353 | $0 | 0.00% |
For 2018, Wells Bank's most frequently cited loan duration was Other, with 85 originations.
Loan Sizing
2018 saw Wells Bank place emphasis on $100,000 or less loans with 42 originations, totaling $2,550,000 in origination value.
Applicant Income
Wells Bank lent most frequently to those with incomes in the $150k-250k range, with 13 originations. The second most popular income band? $50k-75k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 85 | $19,325,000 | $227,353 | $0 | 0.00% |
Wells Bank lent most frequently to those with DTI ratios of Exempt%, with 85 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.07%
Wells Bank has an average approval rate.
Pick Rate
Approvals leading to origination76.47%
Wells Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 85 | $19,325,000 | $227,353 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| WELLS FARGO & COMPANY | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 128 | 4.5% |
| WELLS FARGO & COMPANY | Conventional home mortgage | Closing on a mortgage | 73 | 2.6% |
| WELLS FARGO & COMPANY | Conventional home mortgage | Incorrect information on your report | 34 | 1.2% |
| WELLS FARGO & COMPANY | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 12 | 0.4% |
| WELLS FARGO & COMPANY | Conventional home mortgage | Struggling to pay mortgage | 655 | 23.0% |
| WELLS FARGO & COMPANY | Conventional home mortgage | Trouble during payment process | 657 | 23.0% |
| WELLS FARGO & COMPANY | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 17 | 0.6% |
| WELLS FARGO & COMPANY | FHA mortgage | Closing on a mortgage | 35 | 1.2% |
| WELLS FARGO & COMPANY | FHA mortgage | Improper use of your report | 1 | 0.0% |
| WELLS FARGO & COMPANY | FHA mortgage | Incorrect information on your report | 10 | 0.4% |
| WELLS FARGO & COMPANY | FHA mortgage | Problem with a credit reporting company's investigation into an existing problem | 2 | 0.1% |
| WELLS FARGO & COMPANY | FHA mortgage | Problem with fraud alerts or security freezes | 1 | 0.0% |
| WELLS FARGO & COMPANY | FHA mortgage | Struggling to pay mortgage | 170 | 6.0% |
| WELLS FARGO & COMPANY | FHA mortgage | Trouble during payment process | 136 | 4.8% |
| WELLS FARGO & COMPANY | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 45 | 1.6% |
| WELLS FARGO & COMPANY | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 17 | 0.6% |
| WELLS FARGO & COMPANY | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 6 | 0.2% |
| WELLS FARGO & COMPANY | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 41 | 1.4% |
| WELLS FARGO & COMPANY | Home equity loan or line of credit (HELOC) | Trouble during payment process | 117 | 4.1% |
| WELLS FARGO & COMPANY | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 21 | 0.7% |
| WELLS FARGO & COMPANY | Other type of mortgage | Closing on a mortgage | 30 | 1.1% |
| WELLS FARGO & COMPANY | Other type of mortgage | Incorrect information on your report | 6 | 0.2% |
| WELLS FARGO & COMPANY | Other type of mortgage | Problem with a credit reporting company's investigation into an existing problem | 2 | 0.1% |
| WELLS FARGO & COMPANY | Other type of mortgage | Struggling to pay mortgage | 252 | 8.8% |
| WELLS FARGO & COMPANY | Other type of mortgage | Trouble during payment process | 240 | 8.4% |
| WELLS FARGO & COMPANY | Reverse mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 0.1% |
| WELLS FARGO & COMPANY | Reverse mortgage | Closing on a mortgage | 3 | 0.1% |
| WELLS FARGO & COMPANY | Reverse mortgage | Struggling to pay mortgage | 6 | 0.2% |
| WELLS FARGO & COMPANY | Reverse mortgage | Trouble during payment process | 16 | 0.6% |
| WELLS FARGO & COMPANY | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 20 | 0.7% |
| WELLS FARGO & COMPANY | VA mortgage | Closing on a mortgage | 10 | 0.4% |
| WELLS FARGO & COMPANY | VA mortgage | Incorrect information on your report | 5 | 0.2% |
| WELLS FARGO & COMPANY | VA mortgage | Problem with a credit reporting company's investigation into an existing problem | 4 | 0.1% |
| WELLS FARGO & COMPANY | VA mortgage | Struggling to pay mortgage | 39 | 1.4% |
| WELLS FARGO & COMPANY | VA mortgage | Trouble during payment process | 39 | 1.4% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Wells Bank | 2920 South Main Street Maryville, MO 64468 | Full Service B&M | $35,882 |
| Wells Bank | 1100 Branch Street Platte City, MO 64079 | Full Service B&M | $111,882 |
| Wells Bank | 125 West Nodaway Street Oregon, MO 64473 | Full Service B&M | $23,298 |
| Wells Bank | 501 West Main Street Savannah, MO 64485 | Full Service B&M | $19,277 |
| Wells Bank | 6500 N.W. Prairie View Road Kansas City, MO 64151 | Full Service B&M | $6,849 |
For 2018, Wells Bank had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $10,402 |
| Net interest income | $9,126 |
| Total noninterest income | $748 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $281 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $467 |
| Pre-tax net operating income | $4,662 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $4,657 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,657 |
| Minority interest net income | $0 |
| Net income | $4,657 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $4,657 |
Wells Bank's gross interest income from loans was $10,402,000.
Wells Bank's net interest income from loans was $9,126,000.
Wells Bank's fee based income from loans was $281,000.
Wells Bank's net income from loans was $4,657,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,276 |
| Provision for credit losses | $253 |
| Total noninterest expense | $4,959 |
| Salaries and employee benefits | $2,781 |
| Premises and equipment expense | $675 |
| Additional noninterest expense | $1,503 |
| Applicable income taxes | $5 |
| Net charge-offs | $-2 |
| Cash dividends | $3,295 |
Wells Bank's interest expense for loans was $1,276,000.
Wells Bank's payroll and benefits expense were $2,781,000.
Wells Bank's property, plant and equipment expenses $675,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $207,971 |
| Deposits held in domestic offices | $207,971 |
| Deposits by Individuals, partnerships, and corporations | $148,213 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $59,758 |
| Deposits by Commercial banks and other depository institutions in U.S. | $0 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $113,660 |
| Demand deposits | $49,683 |
| Nontransaction accounts | $94,311 |
| Money market deposit accounts (MMDAs) | $50,009 |
| Other savings deposits (excluding MMDAs) | $13,995 |
| Total time deposits | $30,307 |
| Total time and savings deposits | $158,288 |
| Noninterest-bearing deposits | $49,683 |
| Interest-bearing deposits | $158,288 |
| Retail deposits | $203,614 |
| IRAs and Keogh plan accounts | $4,484 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $230,288 |
| Cash & Balances due from depository institutions | $9,711 |
| Interest-bearing balances | $1,241 |
| Total securities | $25,745 |
| Federal funds sold & reverse repurchase | $4,559 |
| Net loans and leases | $178,273 |
| Loan and leases loss allowance | $1,844 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $7,970 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $208 |
| All other assets | $3,822 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $230,288 |
| Total Liabilities | $208,505 |
| Total deposits | $207,971 |
| Interest-bearing deposits | $158,288 |
| Deposits held in domestic offices | $207,971 |
| % insured (estimated) | $66 |
| Federal funds purchased and repurchase agreements | $100 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $434 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $178,273 |
| Loan and leases loss allowance | $1,844 |
| Total loans and leases (domestic) | $180,117 |
| All real estate loans | $165,269 |
| Real estate loans in domestic offices | $165,269 |
| Construction and development loans | $18,582 |
| Residential 1-4 family construction | $14,957 |
| Other construction, all land development and other land | $3,625 |
| Loans secured by nonfarm nonresidential properties | $62,873 |
| Nonfarm nonresidential secured by owner-occupied properties | $22,882 |
| Commercial real estate & other non-farm, non-residential | $39,991 |
| Multifamily residential real estate | $8,898 |
| 1-4 family residential loans | $57,978 |
| Farmland loans | $16,938 |
| Loans held in foreign offices | $0 |
| Farm loans | $3,004 |
| Commercial and industrial loans | $7,559 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,721 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $948 |
| Other loans to individuals | $773 |
| All other loans & leases | $2,564 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $23 |
| Loans to depository institutions and acceptances of other banks | $2,375 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Wells Bank had $178,273,000 of loans outstanding in 2018. $165,269,000 of loans were in real estate loans. $18,582,000 of loans were in development loans. $8,898,000 of loans were in multifamily mortgage loans. $57,978,000 of loans were in 1-4 family mortgage loans. $3,004,000 of loans were in farm loans. $0 of loans were in credit card loans. $948,000 of loans were in the auto loan category.
Small Business Loans
| Categorization | # of Loans in Category | $ amount of loans (in 000's) | Average $/loan |
|---|---|---|---|
| Nonfarm, nonresidential loans - <$1MM | 127 | $23,189 | $182,591 |
| Nonfarm, nonresidential loans - <$100k | 40 | $2,026 | $50,650 |
| Nonfarm, nonresidential loans - $100-250k | 46 | $6,068 | $131,913 |
| Nonfarm, nonresidential loans - $250k-1MM | 41 | $15,095 | $368,171 |
| Commercial & Industrial, US addressed loans - <$1MM | 162 | $7,291 | $45,006 |
| Commercial & Industrial, US addressed loans - <$100k | 139 | $3,235 | $23,273 |
| Commercial & Industrial, US addressed loans - $100-250k | 18 | $1,946 | $108,111 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 5 | $2,110 | $422,000 |
| Farmland loans - <$1MM | 107 | $13,780 | $128,785 |
| Farmland loans - <$100k | 43 | $1,795 | $41,744 |
| Farmland loans - $100-250k | 44 | $6,104 | $138,727 |
| Farmland loans - $250k-1MM | 20 | $5,881 | $294,050 |
| Agriculture operations loans - <$1MM | 74 | $3,003 | $40,581 |
| Agriculture operations loans - <$100k | 64 | $1,706 | $26,656 |
| Agriculture operations loans - $100-250k | 8 | $769 | $96,125 |
| Agriculture operations loans - $250k-1MM | 2 | $528 | $264,000 |