Welcome to our dedicated page for Security Bancorp news (Ticker: SCYT), a resource for investors and traders seeking the latest updates and insights on Security Bancorp stock.
Security Bancorp, Inc. (SCYT) is the holding company for Security Federal Savings Bank of McMinnville, Tennessee, a Tennessee state‑chartered financial institution headquartered in McMinnville, Tennessee. The company’s news flow consists primarily of detailed earnings releases and dividend announcements that outline its financial performance and balance sheet trends.
In its quarterly earnings news, Security Bancorp, Inc. reports metrics such as net income, earnings per share, net interest income, provisions for credit or loan losses, non‑interest income, and non‑interest expense. These releases also describe changes in consolidated total assets, loans receivable, investment and mortgage‑backed securities available‑for‑sale, deposits, non‑performing assets, and stockholders’ equity.
Readers following SCYT news can see how growth in one‑to‑four family mortgage and commercial real estate loans, shifts in interest‑bearing demand deposits, savings accounts, and certificates of deposit, and movements in investment securities affect the company’s results. Management commentary in the releases often explains the reasons behind changes in net interest income, credit loss provisions, non‑interest income tied to card processing contracts or loan sales, and operating expenses related to data processing, consulting, and occupancy.
Dividend press releases from Security Bancorp, Inc. provide information on annual cash dividends declared by the Board of Directors, including the dividend amount per share and key record and payment dates. Investors and analysts can use this news page as a centralized view of the company’s publicly released financial updates and shareholder distribution announcements over time.
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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.
Security Bancorp reported a net income of $744,000 ($2.03 per share) for Q2 2022, up from $627,000 ($1.72 per share) in Q2 2021. Year-to-date net income remained stable at $1.3 million. Net interest income rose 17.8% to $2.1 million for Q2 due to increased loan balances and rates. However, non-interest income decreased 17.7% for Q2 and 31.0%0.8% to $298.2 million, while stockholders’ equity decreased 3.9% to $27.0 million.
Security Bancorp, Inc. (OTCBB:SCYT.OB) announced an annual cash dividend of $1.00 per share, payable on July 1, 2022, to shareholders recorded by June 1, 2022. As of March 31, 2022, the company reported total assets of $294.6 million and stockholders' equity of $26.9 million. This dividend reflects the corporation's ongoing commitment to return value to its shareholders while maintaining a solid financial foundation.
Security Bancorp, Inc. (SCYT) reported a net income of $567,000 for Q1 2022, down from $671,000 in Q1 2021, with a basic EPS of $1.55 compared to $1.84. Net interest income rose by 7.5% to $1.9 million, while non-interest income fell 42.9% to $392,000 due to decreased loan sales. Total assets decreased 0.40% to $294.6 million, but loans receivable increased 5.1% to $190.4 million. Stockholders’ equity declined to $26.9 million, representing 9.1% of total assets. Non-performing assets decreased to $281,000, showing a reduction in risk profile.
Security Bancorp, Inc. (OTCBB: SCYT) reported a net income of $671,000 or $1.79 per share for Q3 of fiscal 2021, a rise from $561,000 or $1.50 per share in Q3 2020. Year-to-date, net income stands at $2.0 million, up from $1.7 million, with earnings per share increasing to $5.26 from $4.38. Total assets grew 10.9% to $289.3 million, driven by increased deposits and commercial real estate loans. Non-interest income rose to $693,000, while non-interest expenses were $1.6 million, reflecting ongoing investment in services.
Security Bancorp, Inc. (SCYT) reported a net income of $627,000, or $1.72 per share, for the second quarter of 2021, up from $516,000, or $1.36 per share a year ago. For the six months, net income rose to $1.3 million, or $3.56 per share, compared to $1.1 million last year. However, net interest income fell by 2.7% to $3.6 million. Non-interest income rose significantly, reaching $608,000 for the quarter, attributed to increased loan sales. Total assets increased by 9% to $284.3 million, while deposits rose by 13.5% to $252.4 million.
Security Bancorp, Inc. (SCYT) reported consolidated earnings of $671,000, or $1.84 per share, for Q1 2021, up from $580,000, or $1.52 per share, in Q1 2020. Total interest income declined 14.6% to $2.1 million due to lower loan interest rates, while net interest income dropped 7% to $1.8 million. Non-interest income surged 66.7% to $687,000, driven by increased mortgage activity. Assets rose 4.7% to $273 million, with deposits climbing 8.7% to $241.6 million. Non-performing assets decreased 52.7% to $139,000, indicating improved loan performance.