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 (SFDL) is the parent company of Security Federal Bank, a commercial banking institution based in Aiken, South Carolina. The company issues regular news releases covering its financial performance, dividend declarations, and other matters related to its operations as a bank holding company in the finance and insurance sector.
News about Security Federal Corporation frequently focuses on quarterly and annual earnings. These releases describe net income available to common shareholders, net interest income, interest income and expense, non-interest income and expense, and provisions for credit losses. They also provide details on credit quality, including non-performing assets and allowance for credit losses, and present balance sheet highlights such as total assets, loans receivable, investment securities, deposits, borrowings, and shareholders’ equity.
Another recurring news theme is dividends. Security Federal Corporation regularly announces quarterly cash dividends and has highlighted a long sequence of consecutive quarterly dividend payments since Security Federal Bank’s conversion from mutual to stock form in 1987. The company has also announced special cash dividends, explaining that these payments reflect continued profitability and are subject to the Board’s assessment of financial condition, earnings, and capital requirements.
News releases also describe Security Federal Bank’s 19 full-service branches in South Carolina and Georgia and note that the Bank provides a full range of financial services, including trust and investments, while insurance services are offered through its wholly owned subsidiary, Security Federal Insurance, Inc.
Investors and observers using this news page can review Security Federal Corporation’s historical and recent announcements in one place, including earnings releases furnished on Form 8-K and dividend declarations related to SFDL common stock traded over the counter.
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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.
Security Federal Corporation (OTCBB: SFDL) reported a net income of $2.2 million ($0.67 per share) for Q2 2022, down from $2.9 million ($0.90 per share) in Q2 2021. Year-to-date income also decreased to $3.7 million ($1.14 per share) compared to $6.1 million ($1.88 per share) in the previous year. Key factors included a lack of loan loss provisions and increased expenses. Total assets grew to $1.4 billion, alongside a 3% increase in deposits. However, book value per share dropped to $25.81 from $35.51 at the end of 2021.
Security Federal Corporation, the parent company of Security Federal Bank, announced a quarterly dividend of $0.12 per share, payable on or about June 15, 2022, to shareholders of record as of May 31, 2022. This marks the 126th consecutive quarterly dividend since the bank's conversion to a stock ownership model in October 1987. The dividend declaration reflects the bank's ongoing profitability. Security Federal Bank operates eighteen branches across South Carolina and Georgia, offering a variety of financial and insurance services.
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