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 (SFDL) reported a net income of $2.0 million, or $0.62 per share, for Q4 2021, down from $3.1 million, or $0.94 per share, in Q4 2020. However, annual net income climbed 81.2% to $12.8 million ($3.93 per share) in 2021, driven by increased net interest income and grant income. Net interest income rose 9.1% to $33.3 million for the year. The company experienced a reduction in non-performing assets and improved credit quality, with an allowance for loan losses down to 2.19%. Total assets increased to $1.3 billion, with deposits rising 21.6%.
Security Federal Corporation has declared a quarterly dividend of $0.11 per share, scheduled for payment on or about December 15, 2021, to shareholders of record by November 30, 2021. This marks the 124th consecutive quarterly dividend since the Bank's conversion from mutual to stock ownership in October 1987. The dividend reflects the Bank’s ongoing profitability. With seventeen branches across South Carolina and Georgia, the Bank offers a full range of financial and insurance services.
Security Federal Corporation (SFDL) reported a significant increase in net income for Q3 2021, rising 412.9% to $4.6 million or $1.43 per share, compared to $905,000 or $0.28 in Q3 2020. Year-to-date net income also rose 169.6% to $10.7 million, or $3.30 per share. Key drivers included lower interest expenses and a grant of $1.8 million from the CDFI Rapid Response Program, boosting total non-interest income by 51.6% to $4.5 million. Total assets increased by $58.6 million year-to-date to $1.2 billion, while total deposits grew 10.7% to $1.0 billion.
Security Federal Corporation announced a quarterly dividend of $0.11 per share, payable on or about September 15, 2021, to shareholders of record as of August 31, 2021. This marks the 123rd consecutive quarterly dividend since the Bank's conversion to stock form in 1987, reflecting the Bank's ongoing profitability. Security Federal Bank operates 17 branches across South Carolina and Georgia, providing a range of financial services, including trust, investment, and insurance services through its subsidiary, Security Federal Insurance.
Security Federal Corporation (SFDL) reported a 45% increase in net income for Q2 2021, reaching $2.9 million or $0.90 per share, compared to $2.0 million in Q2 2020. Year-to-date net income surged 98.1% to $6.1 million, or $1.88 per share. Key drivers included reduced interest expenses and a negative provision for loan losses. However, non-interest income decreased 4.2%. Total assets grew to $1.2 billion and deposits increased by 8.3%. The bank aims to enhance services with a new branch in Augusta, GA.
Security Federal Corporation has announced a quarterly dividend of $0.11 per share, payable on or about June 15, 2021, to shareholders recorded by May 31, 2021. This marks the one hundred twenty-second consecutive quarterly dividend since the Bank's transition to stock ownership in October 1987. The dividend reflects the Bank's ongoing profitability and robust financial health.
Security Federal Corporation's stock trades on the OTC Bulletin Board under the symbol SFDL.
Security Federal Corporation (SFDL) announced robust earnings for Q1 2021, with net income reaching $3.2 million or $0.98 per share, up from $1.1 million or $0.34 per share in Q1 2020. This $2.1 million increase is attributed to reduced interest and loan loss provision expenses. Total interest income remained steady at $9.1 million. A significant decrease in interest expense by 51.5% to $1.1 million contributed to net interest income of $8.02 million. The bank reported a negative provision for loan losses of $870,000, showing improved credit conditions. Total assets rose to $1.2 billion, with deposits increasing to $969.8 million.
Security Federal Corporation has announced a quarterly dividend of $0.11 per share, payable around March 15, 2021, to shareholders on record by February 28, 2021. This marks the one hundred twenty-first consecutive dividend since the company’s conversion from mutual to stock form in October 1987. The decision to declare the dividend reflects the ongoing profitability of the Bank, which operates seventeen branches across South Carolina and Georgia, offering a comprehensive range of financial services.
Security Federal Corporation (SFDL) reported a net income increase of 91.3% for Q4 2020, reaching $3.1 million ($0.94 per share), primarily from a 21.6% rise in net interest income. Annual net income decreased by 9.5% to $7.1 million due to higher loan loss provisions amid COVID-19. The Bank distributed over $75 million in PPP loans, resulting in significant loan repayments and increased net interest income. Total assets grew to $1.2 billion, with deposits rising 19.0% to $918 million.