Welcome to our dedicated page for Security Fed news (Ticker: SFDL), a resource for investors and traders seeking the latest updates and insights on Security Fed stock.
Track the latest developments from Security Federal Corp (NASDAQ: SFDL), a community-focused banking institution recognized for its strong credit quality and customer-centric services. This dedicated news hub provides investors and stakeholders with timely updates directly affecting the company's market position and operational strategy.
Key resources include quarterly earnings disclosures, regulatory filings, leadership announcements, and community reinvestment initiatives. Discover updates on digital banking enhancements, mortgage rate adjustments, and capital management strategies that underscore SFDL's financial stability.
Bookmark this page for verified updates from SEC filings, press releases, and industry analyses. Monitor SFDL's progress in maintaining robust balance sheet metrics while expanding its footprint in personal banking and commercial financial services.
Security Federal Corporation announced a quarterly dividend of $0.13 per share, marking an increase of 8.3% from the previous dividend. This dividend will be paid on or about March 15, 2023, to shareholders of record as of February 28, 2023. This payout reflects the Bank’s sustained profitability and is notable as it represents the one hundred twenty-ninth consecutive quarterly dividend since its conversion to a stock form of ownership in October 1987.
Security Federal Bank operates 18 branch locations across South Carolina and Georgia, offering a comprehensive range of financial services.
Security Federal Corporation (SFDL) reported a strong fourth quarter for 2022, with net income increasing by $1.3 million, or 62.2%, to $3.3 million ($1.01 per share), driven by a 25.9% rise in net interest income to $11 million. However, annual net income dropped to $10.2 million ($3.14 per share) from $12.8 million ($3.93 per share) due to a significant decline in non-interest income, down 23.9% year-over-year. Total assets increased by 6.2% to $1.4 billion. Non-performing assets rose to 1.15% of gross loans, and the common equity book value per share fell to $23.76, down from $35.51 in 2021.
Security Federal Corporation (OTCBB: SFDL) reported earnings for Q3 and the first nine months of 2022, revealing a net income of $3.2 million, or $0.99 per share, down from $4.6 million, or $1.43 per share, year-over-year. Year-to-date income also declined to $6.9 million from $10.7 million. Contributing factors include reduced loan loss reserves and lower non-interest income, affected by a decrease in loan sales. Net interest income rose by 14.9% to $10.1 million, while total assets increased by 4.4% to $1.4 billion. The company is engaged in the Emergency Capital Investment Program with the U.S. Treasury.
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