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Last $19.00 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 8:10 PM 08/26/15 All times are local (Market data is delayed by at least 15 minutes).

security federal corp (SFDL) Key Developments

Security Federal Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Net Charge-Offs for the Second Quarter of 2015

Security Federal Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net income available to common shareholders of $1.4 million, an increase of $0.046 million or 3.4% compared to the quarter ended June 30, 2014. The increase in earnings is the result of an increase in non-interest income offset slightly by a decrease in net interest income after the provision for loan losses. Total interest income was $7.066 million against $7.637 million a year ago. Net interest income was $5.998 million against $6.130 million a year ago. Net interest income after provision for loan losses was $5.998 million against $6.030 million a year ago. Income before income taxes was $2.050 million against $2.045 million a year ago. Net income was $1.523 million against $1.477 million a year ago. Earnings per diluted share was $0.46 against $0.44 a year ago. For the six months, the company reported total interest income of $14.015 million against $14.830 million a year ago. Net interest income was $11.774 million against $11.773 million a year ago. Net interest income after provision for loan losses was $11.674 million against $11.573 million a year ago. Income before income taxes was $4.123 million against $3.798 million a year ago. Net income was $3.028 million against $2.779 million a year ago. Earnings per diluted share was $0.91 against $0.83 a year ago. The increase in earnings for the six month period is primarily a result of an increase in non-interest income combined with an increase in net interest income after the provision for loan losses. Book value per share as on June 30, 2015 was $22.23 compared to $22.23 as on December 31, 2014. The company’s net charge-offs declined $0.711 million or 85.3% to $0.123 million for the second quarter of 2015 from $0.834 million for the comparable quarter in 2014, with the ratio of annualized net charge-offs to gross loans decreasing to 0.15% for the second quarter of 2015 from 0.94% for the same quarter one year ago.

Security Federal Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Security Federal Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, net interest income was $5.776 million against $5.643 million a year ago. Income before income taxes was $2.072 million against $1.753 million a year ago. Net income available to common shareholders was $1.394 million or $0.45 per diluted share against $1.193 million or $0.39 per diluted share a year ago. The increase in net income was primarily the result of increases in net interest income and non-interest income of $133,000 and $1.1 million, respectively, offset by an increase in non-interest expense of $929,000 compared to the same period in 2014.

Security Federal Corp., Annual General Meeting, Apr 16, 2015

Security Federal Corp., Annual General Meeting, Apr 16, 2015., at 11:00 US Eastern Standard Time. Location: Newberry Hall. Agenda: To consider the election of Timothy W. Simmons, Harry O. Weeks, Jr. and Roy G. Lindburg as directors; to consider the advisory approval of the compensation of Security Federal Corporation's named executive officers; and to consider such other matters as may properly come before the meeting.

Security Federal Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Security Federal Corp. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. The company reported net income available to common shareholders of $1.2 million or $0.40 per common share (diluted) for the quarter ended December 31, 2014, an increase of $102,000 or 9.2% compared to net income of $1.1 million or $0.36 per common share (diluted) for the quarter ended December 31, 2013. The increase was primarily the result of an increase in non-interest income. Net interest income was $5.893 million against $5.693 million a year ago. Total interest income was $7.263 million against $7.357 million a year ago. Income before income taxes was $1.849 million against $1.699 million a year ago. Net income available to common shareholders increased $2.0 million or 60.3% to $5.4 million or $1.75 per common share (diluted) for the year ended December 31, 2014 compared to $3.4 million or $1.12 per common share (diluted) for the year ended December 31, 2013. The increase was primarily the result of an increase in net interest income combined with a decrease in the provision for loan losses. Net interest income was $23.669 million against $22.914 million a year ago. Total interest income was $29.482 million against $30.447 million a year ago. Income before income taxes was $8.114 million against $5.112 million a year ago. Book value per share was $22.23 against $19.02 a year ago.

Security Federal Corporation and Security Federal Bank Accepts Resignation of W. Barry Adams as Director

On January 6, 2015, Security Federal Corporation and Security Federal Bank (Bank) accepted the resignation of Director W. Barry Adams from the Boards of Directors of the company and the Bank. Mr. Adams also served as Executive Vice President of the Bank. Mr. Adam's resignation is effective immediately.

 

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Industry Analysis

SFDL

Industry Average

Valuation SFDL Industry Range
Price/Earnings 11.0x
Price/Sales 1.8x
Price/Book 0.9x
Price/Cash Flow 9.2x
TEV/Sales NM Not Meaningful
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