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, St. Joseph, Maryville, and Fort Leonard Wood among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Wells Bank has an above 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
98Origination Dollar Volume (All Markets)
$22,890,000Employee count
47Top 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) | 59 | $16,335,000 | $276,864 | $0 | 0.00% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 19 | $3,135,000 | $165,000 | $0 | 0.00% |
| Maryville, MO (FHA|USDA|VA) | 16 | $2,350,000 | $146,875 | $0 | 0.00% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 2 | $950,000 | $475,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $120,000 | $60,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 98 | $22,890,000 | $233,571 | $0 | 0.00% |
For 2019, Wells Bank's most frequently originated type of loan was Conventional, with 98 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 56 | $14,590,000 | $260,536 | $0 | 0.00% |
| Refi | 42 | $8,300,000 | $197,619 | $0 | 0.00% |
For 2019, Wells Bank's most frequently cited loan purpose was Home Purchase, with 56 originations. The 2nd most popular reason was Refi, with 42 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 98 | $22,890,000 | $233,571 | $0 | 0.00% |
For 2019, Wells Bank's most frequently cited loan duration was Other, with 98 originations.
Loan Sizing
2019 saw Wells Bank place emphasis on $100k-200k loans with 31 originations, totaling $4,725,000 in origination value.
Applicant Income
Wells Bank lent most frequently to those with incomes in the $50k-75k range, with 19 originations. The second most popular income band? $100k-150k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 98 | $22,890,000 | $233,571 | $0 | 0.00% |
Wells Bank lent most frequently to those with DTI ratios of Exempt%, with 98 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.10%
Wells Bank has an average approval rate.
Pick Rate
Approvals leading to origination89.80%
Wells Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 98 | $22,890,000 | $233,571 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| WELLS FARGO & COMPANY | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 145 | 7.0% |
| WELLS FARGO & COMPANY | Conventional home mortgage | Closing on a mortgage | 54 | 2.6% |
| WELLS FARGO & COMPANY | Conventional home mortgage | Improper use of your report | 1 | 0.0% |
| WELLS FARGO & COMPANY | Conventional home mortgage | Incorrect information on your report | 23 | 1.1% |
| WELLS FARGO & COMPANY | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 6 | 0.3% |
| WELLS FARGO & COMPANY | Conventional home mortgage | Struggling to pay mortgage | 434 | 21.1% |
| WELLS FARGO & COMPANY | Conventional home mortgage | Trouble during payment process | 580 | 28.2% |
| WELLS FARGO & COMPANY | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 21 | 1.0% |
| WELLS FARGO & COMPANY | FHA mortgage | Closing on a mortgage | 19 | 0.9% |
| WELLS FARGO & COMPANY | FHA mortgage | Credit monitoring or identity theft protection services | 1 | 0.0% |
| WELLS FARGO & COMPANY | FHA mortgage | Improper use of your report | 1 | 0.0% |
| WELLS FARGO & COMPANY | FHA mortgage | Incorrect information on your report | 7 | 0.3% |
| WELLS FARGO & COMPANY | FHA mortgage | Problem with a credit reporting company's investigation into an existing problem | 7 | 0.3% |
| WELLS FARGO & COMPANY | FHA mortgage | Struggling to pay mortgage | 132 | 6.4% |
| WELLS FARGO & COMPANY | FHA mortgage | Trouble during payment process | 93 | 4.5% |
| WELLS FARGO & COMPANY | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 40 | 1.9% |
| WELLS FARGO & COMPANY | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 7 | 0.3% |
| WELLS FARGO & COMPANY | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 5 | 0.2% |
| WELLS FARGO & COMPANY | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 44 | 2.1% |
| WELLS FARGO & COMPANY | Home equity loan or line of credit (HELOC) | Trouble during payment process | 79 | 3.8% |
| WELLS FARGO & COMPANY | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 20 | 1.0% |
| WELLS FARGO & COMPANY | Other type of mortgage | Closing on a mortgage | 10 | 0.5% |
| WELLS FARGO & COMPANY | Other type of mortgage | Improper use of your report | 1 | 0.0% |
| WELLS FARGO & COMPANY | Other type of mortgage | Incorrect information on your report | 5 | 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 | 84 | 4.1% |
| WELLS FARGO & COMPANY | Other type of mortgage | Trouble during payment process | 113 | 5.5% |
| 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 | 2 | 0.1% |
| WELLS FARGO & COMPANY | Reverse mortgage | Trouble during payment process | 4 | 0.2% |
| WELLS FARGO & COMPANY | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 10 | 0.5% |
| WELLS FARGO & COMPANY | VA mortgage | Closing on a mortgage | 8 | 0.4% |
| WELLS FARGO & COMPANY | VA mortgage | Incorrect information on your report | 4 | 0.2% |
| WELLS FARGO & COMPANY | VA mortgage | Struggling to pay mortgage | 36 | 1.7% |
| WELLS FARGO & COMPANY | VA mortgage | Trouble during payment process | 57 | 2.8% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Wells Bank | 1100 Branch Street Platte City, MO 64079 | Full Service B&M | $116,647 |
| Wells Bank | 125 West Nodaway Street Oregon, MO 64473 | Full Service B&M | $25,149 |
| Wells Bank | 2920 South Main Street Maryville, MO 64468 | Full Service B&M | $33,825 |
| Wells Bank | 501 West Main Street Savannah, MO 64485 | Full Service B&M | $18,491 |
| Wells Bank | 6500 N.W. Prairie View Road Kansas City, MO 64151 | Full Service B&M | $8,346 |
For 2019, Wells Bank had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $10,992 |
| Net interest income | $9,450 |
| Total noninterest income | $1,183 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $281 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $902 |
| Pre-tax net operating income | $4,995 |
| Securities gains (or losses, -) | $3 |
| Income before extraordinary items | $5,134 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $5,134 |
| Minority interest net income | $0 |
| Net income | $5,134 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $5,131 |
Wells Bank's gross interest income from loans was $10,992,000.
Wells Bank's net interest income from loans was $9,450,000.
Wells Bank's fee based income from loans was $281,000.
Wells Bank's net income from loans was $5,134,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,542 |
| Provision for credit losses | $240 |
| Total noninterest expense | $5,398 |
| Salaries and employee benefits | $3,084 |
| Premises and equipment expense | $847 |
| Additional noninterest expense | $1,467 |
| Applicable income taxes | $-136 |
| Net charge-offs | $6 |
| Cash dividends | $3,155 |
Wells Bank's interest expense for loans was $1,542,000.
Wells Bank's payroll and benefits expense were $3,084,000.
Wells Bank's property, plant and equipment expenses $847,000.
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 | 1.0% |
| 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 | $225,667 |
| Deposits held in domestic offices | $225,667 |
| Deposits by Individuals, partnerships, and corporations | $153,093 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $72,574 |
| 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 | $129,407 |
| Demand deposits | $51,946 |
| Nontransaction accounts | $96,260 |
| Money market deposit accounts (MMDAs) | $49,568 |
| Other savings deposits (excluding MMDAs) | $15,445 |
| Total time deposits | $31,247 |
| Total time and savings deposits | $173,721 |
| Noninterest-bearing deposits | $51,946 |
| Interest-bearing deposits | $173,721 |
| Retail deposits | $221,034 |
| IRAs and Keogh plan accounts | $4,297 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $249,659 |
| Cash & Balances due from depository institutions | $9,614 |
| Interest-bearing balances | $1,862 |
| Total securities | $21,689 |
| Federal funds sold & reverse repurchase | $11,924 |
| Net loans and leases | $193,569 |
| Loan and leases loss allowance | $2,078 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $8,607 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $177 |
| All other assets | $4,079 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $249,659 |
| Total Liabilities | $226,147 |
| Total deposits | $225,667 |
| Interest-bearing deposits | $173,721 |
| Deposits held in domestic offices | $225,667 |
| % insured (estimated) | $63 |
| Federal funds purchased and repurchase agreements | $100 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $380 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $193,569 |
| Loan and leases loss allowance | $2,078 |
| Total loans and leases (domestic) | $195,647 |
| All real estate loans | $181,143 |
| Real estate loans in domestic offices | $181,143 |
| Construction and development loans | $29,054 |
| Residential 1-4 family construction | $14,875 |
| Other construction, all land development and other land | $14,179 |
| Loans secured by nonfarm nonresidential properties | $64,875 |
| Nonfarm nonresidential secured by owner-occupied properties | $23,551 |
| Commercial real estate & other non-farm, non-residential | $41,324 |
| Multifamily residential real estate | $9,003 |
| 1-4 family residential loans | $60,121 |
| Farmland loans | $18,090 |
| Loans held in foreign offices | $0 |
| Farm loans | $3,176 |
| Commercial and industrial loans | $6,889 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,860 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $1,016 |
| Other loans to individuals | $844 |
| All other loans & leases | $2,579 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $24 |
| Loans to depository institutions and acceptances of other banks | $2,125 |
| 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 $193,569,000 of loans outstanding in 2019. $181,143,000 of loans were in real estate loans. $29,054,000 of loans were in development loans. $9,003,000 of loans were in multifamily mortgage loans. $60,121,000 of loans were in 1-4 family mortgage loans. $3,176,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,016,000 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 | 123 | $23,353 | $189,862 |
| Nonfarm, nonresidential loans - <$100k | 35 | $1,683 | $48,086 |
| Nonfarm, nonresidential loans - $100-250k | 49 | $5,871 | $119,816 |
| Nonfarm, nonresidential loans - $250k-1MM | 39 | $15,799 | $405,103 |
| Commercial & Industrial, US addressed loans - <$1MM | 154 | $5,771 | $37,474 |
| Commercial & Industrial, US addressed loans - <$100k | 129 | $1,680 | $13,023 |
| Commercial & Industrial, US addressed loans - $100-250k | 19 | $1,934 | $101,789 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 6 | $2,157 | $359,500 |
| Farmland loans - <$1MM | 110 | $14,384 | $130,764 |
| Farmland loans - <$100k | 45 | $1,734 | $38,533 |
| Farmland loans - $100-250k | 45 | $6,317 | $140,378 |
| Farmland loans - $250k-1MM | 20 | $6,333 | $316,650 |
| Agriculture operations loans - <$1MM | 74 | $3,175 | $42,905 |
| Agriculture operations loans - <$100k | 60 | $1,475 | $24,583 |
| Agriculture operations loans - $100-250k | 11 | $929 | $84,455 |
| Agriculture operations loans - $250k-1MM | 3 | $771 | $257,000 |