The company has not filed an annual or quarterly report since its Q1 FY2020 10-Q, filed May 8, 2020. Its latest SEC filing is a SC 13G/A from Feb 10, 2021.
10-Q for Q1 FY2020, filed May 8, 2020
The sections below describe the company as of the FY2019 annual report.
Provides home mortgages and commercial loans to individuals and small businesses, and wealth management to individuals and organizations.
10-K for FY2019, filed Mar 27, 2020Wellesley Bank. Founded in 1911, Wellesley Bank is a Massachusetts chartered cooperative bank headquartered in Wellesley, Massachusetts. We…View ↗
Residential Mortgage Loans. The largest segment of our loan portfolio is residential mortgage loans, which enable borrowers to purchase or…View ↗
Commercial Real Estate Loans. We also offer fixed-rate and adjustable-rate mortgage loans secured by commercial real estate properties…View ↗
Construction Loans. At December 31, 2019, construction loans were $138.0 million, or 16.4%, of our total loan portfolio. We primarily…View ↗
Commercial Business Loans. We make commercial business loans primarily in our market area to a variety of professionals, sole…View ↗
Wellesley Investment Partners, LLC. Wellesley Investment Partners, LLC, established in 2007, is a Massachusetts limited liability company…View ↗
Earns most income from interest on loans and investments, offset by interest paid on deposits and borrowings. Other income comes from wealth-management and account-service fees, mortgage banking, bank-owned life insurance, and fees on customer loan-related interest-rate swaps.
10-K for FY2019, filed Mar 27, 2020Income. Our primary source of income is net interest income. Net interest income is the difference between interest income, which is the…View ↗
$29.3M
10-K for FY2019, filed Mar 27, 2020
$29.3M ↗
Individuals and small businesses use the bank for deposits and loans, with loan originations coming mainly through in-house originators and also local mortgage brokers, advertising and customer referrals. Wealth management serves individuals, families, businesses and nonprofit organizations.
10-K for FY2019, filed Mar 27, 2020Wellesley Bank. Founded in 1911, Wellesley Bank is a Massachusetts chartered cooperative bank headquartered in Wellesley, Massachusetts. We…View ↗
Loan Originations, Purchases and Sales. Loan originations come from a number of sources. The primary source of loan originations are our…View ↗
Wellesley Investment Partners, LLC. Wellesley Investment Partners, LLC, established in 2007, is a Massachusetts limited liability company…View ↗
Yes. It kept 20 cents of every revenue dollar as net income in FY2019 and turned 11 cents into free cash flow.
10-K for FY2019, filed Mar 27, 2020
8-K, filed Jun 1, 2020
On June 1, 2020, Wellesley Bancorp, Inc. (“Wellesley” or the “Company”), the parent holding company of Wellesley Bank, completed the…View ↗
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