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.
Security Federal Corporation reports news as the holding company for Security Federal Bank, a community banking organization with full-service branches in South Carolina and Georgia. Company updates regularly cover quarterly and annual earnings, net interest income, non-interest income and expense, credit-loss provisions, non-performing assets and other credit-quality measures tied to the bank’s lending and deposit business.
Recurring announcements also include cash dividends on SFDL common stock, which trades on the OTC market. Security Federal Bank provides banking, trust and investment services, while insurance services are offered through the bank’s wholly owned subsidiary, Security Federal Insurance, Inc.
Security Federal Corporation (OTCID: SFDL) reported strong financial results for Q2 2025. Net income available to common shareholders reached $2.4 million ($0.75 per share) in Q2 2025, up from $2.1 million ($0.66 per share) in Q2 2024. For the first six months of 2025, net income was $5.0 million ($1.56 per share), compared to $3.9 million ($1.20 per share) in 2024.
The bank's performance was driven by an 11.1% increase in net interest income to $11.3 million, improved non-interest income, and no provision for credit losses. Total assets grew to $1.6 billion, a 5.3% year-over-year increase. The bank maintained strong credit quality with non-performing assets at just 0.37% of total assets and an allowance for credit losses of 2.00% of gross loans.
Security Federal Corporation (SFDL) has declared its 138th consecutive quarterly dividend of $0.15 per share, payable on June 15, 2025, to shareholders of record as of May 31, 2025. The dividend announcement stems from the bank's continued profitability. Security Federal Bank operates 19 full-service branch locations across South Carolina and Georgia, offering comprehensive financial services including trust, investments, and insurance through its subsidiary, Security Federal Insurance, Inc.
Security Federal (OTCBB: SFDL) has announced a special cash dividend of $0.10 per share, payable on April 15, 2025, to shareholders of record as of March 31, 2025. The decision comes as a result of the company's continued profitability.
CEO J. Chris Verenes emphasized that future dividend payments and amounts will depend on the Board's assessment of the company's financial condition, earnings, and capital requirements. Security Federal Bank operates nineteen full-service branch locations across South Carolina and Georgia, offering a comprehensive range of financial services including trust, investments, and insurance through its subsidiary, Security Federal Insurance, Inc.
Security Federal (SFDL) has announced a quarterly dividend increase of $0.01 (7.1%) to $0.15 per share, payable on March 15, 2025, to shareholders of record as of February 28, 2025. This marks the company's 137th consecutive quarterly dividend since its conversion from mutual to stock ownership in October 1987.
The dividend declaration stems from the bank's continued profitability. Security Federal Bank operates nineteen full-service branches across South Carolina and Georgia, offering comprehensive financial services including trust, investments, and insurance through its subsidiary, Security Federal Insurance, Inc.
Security Federal (SFDL) reported Q4 2024 net income of $3.0 million ($0.94 per share), down from $3.6 million ($1.12 per share) in Q4 2023. Full-year 2024 net income was $8.9 million ($2.77 per share), compared to $10.2 million ($3.14 per share) in 2023.
Q4 highlights include a 7.8% increase in net interest income to $11.3 million, with total interest income rising 10.1% to $20.2 million. Non-interest income grew 2.8% to $2.8 million, while non-interest expense increased 5.2% to $9.5 million.
The bank's total assets reached $1.6 billion, up 4.0% in 2024. Total loans increased 10.4% to $687.1 million, while deposits grew 10.8% to $1.3 billion. The allowance for credit losses remained stable at 1.98% of gross loans, with non-performing assets at 0.47% of total assets.
Security Federal has declared a quarterly dividend of $0.14 per share, payable on December 15, 2024, to shareholders of record as of November 30, 2024. This marks the company's 136th consecutive quarterly dividend since its conversion from mutual to stock ownership in October 1987. The dividend declaration reflects the bank's continued profitability. Security Federal Bank operates 19 full-service branches across South Carolina and Georgia, offering financial services including trust, investments, and insurance through its subsidiary, Security Federal Insurance.
Security Federal reported Q3 2024 net income of $2.0 million ($0.62 per share), compared to $2.1 million ($0.65 per share) in Q3 2023. Net interest income increased 10.2% to $10.4 million, while total interest income rose 16.1% to $19.5 million. Year-to-date net income was $5.9 million ($1.83 per share), down from $6.6 million ($2.02 per share) in 2023. The decrease was primarily due to increased provision for credit losses, higher non-interest expenses, and preferred stock dividend payments. Total assets reached $1.6 billion, showing a 6.7% year-over-year increase.
Security Federal (OTCBB: SFDL), the holding company for Security Federal Bank, has announced an expansion of its stock repurchase program. The Board of Directors has approved an additional 100,000 shares for repurchase, bringing the total to 135,276 shares when combined with the remaining 35,276 shares from the initial program.
Repurchases will be made at management's discretion, considering factors such as stock price, market conditions, and the company's financial performance. The program may be suspended, terminated, or modified at any time. Security Federal operates 19 full-service branches across South Carolina and Georgia, with its newest branch opening in downtown Augusta, Georgia, in April 2023.
Security Federal (OTCBB: SFDL) reported net income of $2.1 million, or $0.66 per share, for Q2 2024, up from $1.8 million in Q2 2023. The increase was primarily due to higher net interest income and non-interest income, and lower provision for credit losses. Year-to-date net income was $3.9 million, down from $4.5 million in 2023.
Key financial highlights for Q2 2024:
- Net interest income increased 11.6% to $10.2 million
- Non-interest income rose 9.0% to $2.5 million
- Non-interest expense increased 8.5% to $9.7 million
Total assets reached $1.5 billion, up 4.8% year-over-year. Net loans receivable grew to $655.2 million, while deposits increased to $1.2 billion. The bank's allowance for credit losses to gross loans ratio stood at 1.95%.