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Last $17.42 USD
Change Today 0.00 / 0.00%
Volume 0.0
SFDL On Other Exchanges
Symbol
Exchange
OTC US
As of 8:10 PM 04/22/15 All times are local (Market data is delayed by at least 15 minutes).

security federal corp (SFDL) Key Developments

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.

Security Federal Corp. Reports Unaudited Consolidated Earnings for the Third Quarter and Nine Month Ended September 30, 2014; Announces Net Charge-Offs for the Third Quarter Ended September 30, 2014

Security Federal Corp. reported unaudited consolidated earnings for the third quarter and nine month ended September 30, 2014. For the quarter, the company reported net income available to common shareholders of $1.6 million or $0.54 per basic common share, an increase of $688,000 or 75.5% compared to net income available to common shareholders of $912,000 or $0.31 per basic common share for the quarter ended September 30, 2013. Total interest income was $7,389,000 compared to $7,706,000 a year ago. Net interest income was $6,004,000 compared to $5,910,000 a year ago. Net interest income after provision for loan losses was $6,004,000 against $5,310,000 a year ago. Income before income taxes was $2,467,000 against $1,383,000 a year ago. Net income was $1,711,000 against $1,022,000 a year ago. For the nine months, the company’s net income available to common shareholders increased $1.9 million or 85.6% to $4.2 million or $1.41 per basic common share compared to net income available to common shareholders of $2.2 million or $0.76 per basic common share for the same period in 2013. The increases in earnings for the quarter and nine month periods are primarily a result of increases in net interest income combined with decreases in the provision for loan losses. Total interest income was $22,219,000 compared to $23,090,000 a year ago. Net interest income was $17,776,000 compared to $17,221,000 a year ago. Net interest income after provision for loan losses was $17,576,000 against $14,575,000 a year ago. Income before income taxes was $6,265,000 against $3,432,000 a year ago. Net income was $4,490,000 against $2,572,000 a year ago. Book value per share as on September 30, 2014, was $21.63. The company's net charge-offs declined $493,000 or 51.5% to $465,000 for the third quarter of 2014 from $958,000 for the comparable quarter in 2013.

 

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Industry Analysis

SFDL

Industry Average

Valuation SFDL Industry Range
Price/Earnings 10.2x
Price/Sales 1.7x
Price/Book 0.6x
Price/Cash Flow 8.5x
TEV/Sales NM Not Meaningful
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