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 announced an increase in its quarterly dividend to $0.14 per share, payable on or about June 15, 2024, to shareholders of record as of May 31, 2024. This marks the 134th consecutive quarterly dividend since the bank's conversion from mutual to stock ownership in 1987. The increase is attributed to the bank's continued profitability. Security Federal Bank operates nineteen full-service branches across South Carolina and Georgia, providing a comprehensive range of financial services. The company's common stock is traded on the Over-the-Counter Bulletin Board under the symbol SFDL.
Security Federal reported a net income of $1.8 million for the first quarter of 2024, a decrease from $2.7 million in the same period last year. The decline was attributed to factors like an increase in the cost of funds and expenses. The company saw decreases in net interest income and an increase in both provision for credit losses and non-interest expense. Despite these challenges, the company experienced growth in total interest income and non-interest income. The bank's credit quality remained stable with a slight decrease in non-performing assets and a consistent allowance for credit losses. Total assets increased year-over-year, while cash and cash equivalents decreased due to repayments. Net loans receivable and total deposits saw positive growth, while investment securities experienced a decrease. The company's financial ratios remained strong, and it operates through various branches in South Carolina and Georgia.
FAQ
What is the current stock price of Security Fed (SFDL)?
What is the market cap of Security Fed (SFDL)?
