UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934



                Date of Report (Date of earliest event reported):
             ------------------------------------------------------
                                  March 4, 2004


                              Wells Financial Corp.
             ------------------------------------------------------
             (Exact name of Registrant as specified in its Charter)




        Minnesota                     0-25342                    41-1799504
- ----------------------------     ------------------------      -------------
(State or other jurisdiction     (Commission File Number)      (IRS Employer
    of incorporation)                                     Identification Number)


53 First Street, S.W., Wells, Minnesota                            56097
- ---------------------------------------                            -----
(Address of principal executive offices)                         (Zip Code)


Registrant's telephone number, including area code:           (507) 553-3151
                                                              --------------


                                 Not Applicable
          -------------------------------------------------------------
          (Former name or former address, if changed since last Report)



                      INFORMATION TO BE INCLUDED IN REPORT
                      ------------------------------------


Item 7.   Financial Statements, Pro Forma Financial
          Information and Exhibits
          ------------------------

            (c) Exhibits:

                  99.1     Press Release dated March 4, 2004


Item 12. Results of Operations and Financial Condition
- ------------------------------------------------------

         On March 4,  2004,  the  Registrant  issued a press  release  to report
earnings for the year ended  December  31, 2003. A copy of the press  release is
furnished with this Form 8-K as an exhibit.



                                   SIGNATURES


         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this Report to be signed on its behalf by the
undersigned, hereunto duly authorized.

                                   Wells Financial Corp.


Date:    March 8, 2004             By:  /s/Lonnie R. Trasamar
                                        ----------------------------------------
                                        Lonnie R. Trasamar
                                        President and Chief Executive Officer
                                          (Duly Authorized Representative)