Paragon Bank - Home Mortgage

Paragon Bank
190 South Broadway
Wells, MN 56097
Tel: (507) 553-6311

Security State Bank of Wells was approved for charter in May of 1925 and opened its doors for business on August 31, 1925 in Wells, MN. It was incorporated for $25,000 with a surplus of $5,000. The Bank moved to its present location at 190 South Broadway in December of 1981. Designed in conjunction with the US Department of Energy, the facility was the first passive solar building erected in the United States under this program.

Vincent F. Hart and Thomas J. Hart purchased the Bank in 1958 when the Bank had approximately $2.5 million in assets. The Bank is now owned by Vincent Hart's descendants and is approximately $32 million in assets.

In July 2000, the Bank opened its first branch in Shakopee, MN, and changed its name to Paragon Bank.

Loans

All of your personal financing needs can be met by utilizing one, or a combination, of the consumer loans we offer. Included are loans to purchase an automobile or boat, as well as a home. When the equity in your home is used to secure the loan, the interest on the loan may be tax deductible. (Please consult your tax advisor for advice on tax deductibility.)