WELLS, Minn., Jan. 26, 2015 /PRNewswire/ -- Randel I. Bichler, Chairman of the Board of Directors of Wells Financial Corp. (the Company, OTC BB: WEFP), the holding company of Wells Federal Bank (the Bank), announced today that Lonnie R. Trasamar has resigned as President and Chief Executive Officer, and director, of the Company and the Bank, for personal reasons. Mr. Bichler also announced that the Board of Directors has appointed James D. Moll, who currently serves as Chief Financial Officer and director of the Company and the Bank, as Interim President and Chief Executive Officer of the Company and the Bank. Mr. Bichler stated "The Board of Directors is thankful for Mr. Trasamar's service to the Company and the Bank during the past 13 years and wishes him well in his future endeavors." He added "The Board of Directors is very pleased to have Jim Moll as our Interim President and CEO, who has provided outstanding service and leadership to us for the past 20 years as our CFO and, more recently, as a member of our Board of Directors."
Wells Financial Corp. and Wells Federal Bank are headquartered in Wells, Minnesota. The Bank is headquartered in Wells, Minnesota. The Bank has eight full service offices located in Faribault, Martin, Blue Earth, Nicollet, Freeborn and Steele Counties, Minnesota and one loan origination office in Dakota County, Minnesota. The Bank is a community oriented, full service savings bank offering traditional mortgage, consumer, commercial and agricultural loan products. The Bank offers property/casualty, life, health and crop insurance products through its subsidiary, Wells Insurance Agency.
The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
SOURCE Wells Financial Corp.