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Security Federal Corp, also known as Security Federal Bank, is a trusted financial institution offering a comprehensive range of services to its customers. From online banking and mortgage lending to financial planning and insurance, Security Federal Corp caters to various financial needs. The company's commitment to excellent customer service, combined with its strong credit quality and robust balance sheet highlights, sets it apart in the industry. With a focus on capital management and delivering value to its shareholders, Security Federal Corp continues to be a reliable and innovative player in the financial sector.
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.
Security Federal Corporation announced a quarterly dividend of $0.12 per share, payable on or about September 15, 2022, to shareholders of record as of August 31, 2022. This marks the one hundred twenty-seventh consecutive quarterly dividend since the Bank’s conversion in October 1987 to stock ownership.
The dividend reflects the Bank’s ongoing profitability. Security Federal Bank operates eighteen branches across South Carolina and Georgia, offering various financial services, including trust and investments through its subsidiary, Security Federal Insurance.
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