Business
Security Federal Corporation Announces Increase in Quarterly and Year-To-Date Earnings
Security Federal Corporation Announces Increase in Quarterly and Year-To-Date Earnings.
About this update from Security Federal Corp.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Security Federal Corporation Announces Increase in Quarterly and Year-To-Date Earnings\r\n \r\n \r\n\r\n\r\nSecurity Federal Corporation Announces Increase in Quarterly and Year-To-Date Earnings\r\n\r\n\r\n\r\n\r\n\r\nAIKEN, S.C., Oct. 29, 2025 (GLOBE NEWSWIRE) -- Security Federal Corporation (the “Company”) (OTCBB: SFDL), the holding company for Security Federal Bank (the “Bank”), today announced earnings and financial results for the three and nine months ended September 30, 2025. The Company reported net income available to common shareholders of $3.2 million, or $1.01 per common share, for the quarter ended September 30, 2025, compared to $2.0 million, or $0.62 per common share, for the third quarter of 2024. Year-to-date net income available to common shareholders was $8.1 million, or $2.57 per common share, for the nine months ended September 30, 2025, compared to $5.9 million, or $1.83 per common share, for the nine months ended September 30, 2024. The increase in both quarterly and year-to-date net income available to common shareholders was primarily due to increased net interest income and reductions to the provision for credit losses, which were partially offset by an increase in non-interest expense. Third Quarter Comparative Financial Highlights \r\n Net interest income increased $1.7 million, or 16.0%, to $12.1 million during the quarter ended September 30, 2025, compared to $10.4 million during the third quarter of 2024.\r\n Total interest income increased $600,000, or 3.1%, to $20.1 million while total interest expense decreased $1.1 million, or 11.7%, to $8.1 million during the third quarter of 2025 compared to the same quarter in 2024. The increase in interest income was a result of a $438,000 increase in interest income from loans and a $754,000 increase in interest income from investments. These were partially offset by a $593,000 decrease in interest income from other interest-earning assets. The decrease in interest expense was primarily due to the repayment of outstanding borrowings from the Federal Reserve, which resulted in a lower average balance of interest-bearing liabilities compared to the third quarter of 2024.\r\n Non-interest income increased $9,000, or 0.3%, to $2.6 million during the quarter ended September 30, 2025 compared to the same quarter in ...