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Security Bancorp, Inc. (SCYT) provides investors and financial professionals with centralized access to official corporate communications and market-relevant updates. This resource aggregates all material developments from the Tennessee-based banking holding company, including regulatory filings, strategic initiatives, and operational milestones.
Visitors gain timely insights into SCYT's core banking operations, including loan portfolio management, deposit growth trends, and risk mitigation strategies. The curated news collection covers earnings announcements, leadership changes, regulatory compliance updates, and market positioning developments within the regional financial sector.
Key content categories include quarterly financial disclosures, merger/acquisition activity (if applicable), dividend declarations, and material changes to credit policies. All information is sourced directly from SEC filings, official press releases, and verified financial reporting channels.
Bookmark this page to maintain current awareness of Security Bancorp's operational developments and strategic direction. Regular updates ensure stakeholders can monitor the company's performance against key banking metrics like net interest margin and asset quality indicators.
Security Bancorp (SCYT) reported strong financial results for Q3 2024. Net income reached $1.0 million ($2.77 per share), up from $859,000 ($2.30 per share) in Q3 2023. Net interest income increased 14.3% to $2.9 million. The company's consolidated assets grew 6.8% to $346.6 million, driven by an 11.4% increase in loans receivable to $262.2 million. Deposits rose 5.2% to $304.9 million, while stockholders' equity improved 11.7% to $34.8 million. Non-performing assets significantly decreased by 98.9% to $4,000.
Security Bancorp, Inc. (OTCBB: SCYT) reported strong financial results for Q2 2024. Net income rose to $915,000 ($2.45 per share), up from $819,000 ($2.24 per share) in Q2 2023. For the first half of 2024, net income reached $1.9 million ($5.08 per share), compared to $1.6 million ($4.32 per share) in H1 2023.
Key highlights include:
- Net interest income increased 12.1% to $2.8 million in Q2 2024
- Loans receivable, net, grew 7.4% to $252.8 million
- Deposits rose 2.7% to $297.5 million
- Non-performing assets decreased 30.9% to $251,000
- Stockholders' equity increased 6.5% to $33.2 million
The company's growth was primarily driven by increased loans and higher interest rates, partially offset by rising interest expenses.
On May 17, 2024, Security Bancorp announced an annual cash dividend of $1.00 per share for its common stock, payable on July 1, 2024. Shareholders holding stock as of June 3, 2024, will receive this dividend. As of March 31, 2024, the company reported total assets worth $336.3 million and stockholders' equity of $32.1 million. Security Bancorp is headquartered in McMinnville, Tennessee, and operates Security Federal Savings Bank.
Security Bancorp, Inc. announced Q1 earnings with net income of $984,000 and $2.63 basic earnings per share, compared to $758,000, or $2.03 last year. Net interest income increased by 7.6%, totaling $2.6 million. Total interest income rose by 30.0% to $4.5 million. Non-interest income increased by 25.0% to $515,000. Consolidated assets rose by 3.7% to $336.3 million, with loans receivable, net, increasing by 1.4% to $238.7 million. Non-performing assets decreased by 26.4% to $267,000. Stockholders' equity was $32.1 million.
Security Bancorp, Inc. (SCYT) reported a net income of $877,000, or $2.34 per share, for Q3 2022, an increase from $671,000, or $1.79 per share, year-over-year. For the nine-month period, net income rose to $2.2 million from $2.0 million. Net interest income for Q3 was $2.4 million, up 26.3% year-over-year. However, non-interest income decreased by 34.9% to $451,000. Total assets stood at $291.1 million, a 1.6% decline from the previous year, and stockholders' equity decreased by 7.3% to $26 million.
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