Security National Financial Corporation Reports Financial Results for the Third Quarter Ended September 30, 2012

  Security National Financial Corporation Reports Financial Results for the
  Third Quarter Ended September 30, 2012

Business Wire

SALT LAKE CITY -- November 15, 2012

Security National Financial Corporation (SNFC) (NASDAQ symbol "SNFCA")
announced financial results for the third quarter ended September 30, 2012.

SNFC announced revenues of $63,748,000 for the three months ended September
30, 2012. This represents a 54% increase from 2011. Pre-tax earnings from
operations for the three-month period increased 634% from $835,000 in 2011 to
$6,132,000. After-tax earnings increased 482% from $770,000 in 2011 to
$3,990,000 in 2012.

SNFC announced revenues of $167,599,000 for the nine months ended September
30, 2012. This represents a 50% increase from 2011. Pre-tax earnings from
operations for the nine-month period increased from a loss of ($347,000) in
2011 to a gain of $13,497,000 in 2012. After-tax earnings increased from
$457,000 in 2011 to $9,245,000 in 2012.

Scott Quist, Chairman of the Board, President and Chief Executive Officer of
the Company, said, “Our life segment continues its excellent profitability
results. These results represented the third-best third quarter ever for our
life segment; this result has been accomplished despite record low interest
rates. Nevertheless, low interest rates continue to plague increased
profitability. Our death care segment operating profit is actually 233% above
prior year to date numbers, but the results continue to be masked by the
depreciation charges the segment incurs by virtue of the REO they have
undertaken and manage for its sister companies. We also continue to see
cremation rates rise in all markets we serve. We have accomplished
considerable change in our mortgage segment converting to a retail dominated
distribution model. Without question, the low interest rates have materially
benefited our mortgage segment, but significantly the percentage of our
business that is purchased originated, rather than simply refinance, is
approximately two times national averages. Thus, we believe that our mortgage
model will be more sustainable versus its peers as interest rate normalize.”

SNFC has three business segments. The following table shows the revenues and
earnings before taxes for the three months and nine months ended September 30,
2012 as compared to 2011 for each of the three business segments:

For the three months ended September 30, 2012:

                        Revenues                                 Earnings (Losses) before Taxes
                          2012          2011          %            2012           2011          %
Life Insurance            $ 16,346,000   $ 16,681,000   (2.0  %)     $ 938,000       $ 773,000      21.3    %
                                                                                                    
Cemeteries/Mortuaries       2,704,000      2,446,000    10.5  %        (92,000   )     (318,000 )   71.1    %
                                                                                                    
Mortgages                  44,698,000    22,198,000   101.4 %       5,286,000     380,000     1,291.1 %
                                                                                                    
Total                     $ 63,748,000   $ 41,325,000   54.3  %      $ 6,132,000    $ 835,000     634.4   %

For the nine months ended September 30, 2012:

                        Revenues                                   Earnings (Losses) before Taxes
                          2012           2011           %            2012          2011            %
Life Insurance            $ 51,455,000    $ 50,428,000    2.0   %      $ 3,830,000    $ 2,191,000      74.8    %
                                                                                                       
Cemeteries/Mortuaries       8,394,000       9,203,000     (8.8  %)       57,000         496,000        (88.5   %)
                                                                                                       
Mortgages                  107,750,000    52,333,000    105.9 %       9,610,000     (3,034,000 )   416.7   %
                                                                                                       
Total                     $ 167,599,000   $ 111,964,000   49.7  %      $ 13,497,000   $ (347,000   )   3,989.6 %

Net earnings per common share were $.42 for the three months ended September
30, 2012, compared to $.08 per share for the prior year as adjusted for the
effect of annual stock dividends. Net earnings per common share was $.97 for
the nine months ended September 30, 2012, compared to $.05 per share for the
prior year as adjusted for the effect of annual stock dividends. Book value
per common share was $7.38 as of September 30, 2012, compared to $6.48 as of
December 31, 2011. The Company has two classes of common stock outstanding,
Class A and Class C. The Class C shares share in distribution of earnings and
capital on a 10-for-1 basis with the Class A shares; therefore, for earnings
per share and book value per share calculations, the Class C shares are
converted to Class A shares on a 10-for-1 basis. There were 9,592,385 Class A
equivalent shares outstanding as of September 30, 2012.

If there are any questions, please contact Mr. Scott M. Quist or Mr. Stephen
M. Sill at:

Security National Financial Corporation
P.O. Box 57250
Salt Lake City, Utah 84157
Phone (801) 264-1060
Fax (801) 265-9882

Contact:

Security National Financial Corporation
Scott M. Quist or Stephen M. Sill
801-264-1060
fax: 801-265-9882