Security Federal Corporation Announces Increase in First Quarter Earnings
Rhea-AI Summary
Security Federal Corporation (OTCID: SFDL) reported first-quarter 2026 results. Net income available to common shareholders was $3.1 million, or $1.00 per share, up 19.6% versus Q1 2025. Net interest income was $12.281 million and non-interest income was $2.924 million. Provision for credit losses totaled $225,000 and non-interest expense was $10.560 million. Total assets were $1.628 billion and common equity book value per share was $38.46. Capital ratios remained strong, with total risk-based capital at 21.01% and CET1 at 19.75%.
AI-generated analysis. Not financial advice.
Positive
- Net income available to common shareholders +19.6% to $3.1M
- Non-interest income +19.7% to $2.924M
- Common equity book value per share $38.46 (up from $32.57)
- Total risk-based capital ratio 21.01%
- CET1 capital ratio 19.75%
Negative
- Provision for credit losses $225K (vs $0 in Q1 2025)
- Non-interest expense increased to $10.560M
News Market Reaction – SFDL
On the day this news was published, SFDL gained 1.85%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AIKEN, S.C., May 01, 2026 (GLOBE NEWSWIRE) -- Security Federal Corporation (the “Company”) (OTCID: SFDL), the holding company for Security Federal Bank (the “Bank”), today announced earnings and financial results for the quarter ended March 31, 2026.
Net income available to common shareholders was
| Quarter Ended | ||||||
| (Dollars in Thousands, except for Earnings per Share) | 3/31/2026 | 3/31/2025 | ||||
| Total interest income | $ | 18,821 | $ | 19,233 | ||
| Total interest expense | 6,540 | 8,004 | ||||
| Net interest income | 12,281 | 11,229 | ||||
| Provision for credit losses | 225 | - | ||||
| Net interest income after provision for credit losses | 12,056 | 11,229 | ||||
| Non-interest income | 2,924 | 2,443 | ||||
| Non-interest expense | 10,560 | 9,840 | ||||
| Income before income taxes | 4,420 | 3,832 | ||||
| Provision for income taxes | 905 | 826 | ||||
| Net income | 3,515 | 3,006 | ||||
| Preferred stock dividends | 415 | 415 | ||||
| Net income available to common shareholders | $ | 3,100 | $ | 2,591 | ||
| Earnings per common share (basic) | $ | 1.00 | $ | 0.81 | ||
Credit Quality
The Bank recorded a
| At Period End (dollars in thousands): | 3/31/2026 | 12/31/2025 | 3/31/2025 | ||||||
| Non-performing assets | $ | 5,462 | $ | 5,842 | $ | 7,264 | |||
| Non-performing assets to total assets | |||||||||
| Allowance for credit losses | $ | 13,622 | $ | 13,529 | $ | 14,005 | |||
| Allowance for credit losses to gross loans | |||||||||
Balance Sheet Highlights and Capital Ratios
| Dollars in thousands (except per share amounts) | 3/31/2026 | 12/31/2025 | 3/31/2025 | ||||||
| Total assets | $ | 1,627,503 | $ | 1,618,084 | $ | 1,585,461 | |||
| Cash and cash equivalents | 112,713 | 75,335 | 133,080 | ||||||
| Total loans receivable, net | 667,532 | 676,182 | 689,111 | ||||||
| Investment securities | 756,676 | 776,285 | 674,569 | ||||||
| Deposits | 1,376,895 | 1,371,777 | 1,345,548 | ||||||
| Borrowings | 37,172 | 35,262 | 39,391 | ||||||
| Total shareholders' equity | 201,918 | 200,455 | 188,172 | ||||||
| Common shareholders' equity | 118,969 | 117,506 | 105,223 | ||||||
| Common equity book value per share | $ | 38.46 | $ | 37.74 | $ | 32.57 | |||
| Total risk based capital to risk weighted assets (1) | |||||||||
| CET1 capital to risk weighted assets (1) | |||||||||
| Tier 1 leverage capital ratio (1) | |||||||||
| (1) - Ratio is calculated using Bank only information and not consolidated information | |||||||||
Security Federal has 19 full-service branches located in Aiken, Ballentine, Clearwater, Columbia, Graniteville, Langley, Lexington, North Augusta, Ridge Spring, Wagener and West Columbia, South Carolina and Augusta and Evans, Georgia. A full range of financial services, including trust and investments, are provided by the Bank and insurance services are provided by the Bank’s wholly owned subsidiary, Security Federal Insurance, Inc.
Beverly Nettles 803-641-3000