Security Federal Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 01, 2021 at 12:10 pm EDT
Share
Security Federal Corporation reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported net interest income was USD 8.82 million compared to USD 7.91 million a year ago. Net income was USD 4.64 million compared to USD 0.905 million a year ago. Basic earnings per share from continuing operations was USD 1.43 compared to USD 0.28 a year ago.
For the nine months, net interest income was USD 24.58 million compared to USD 22.13 million a year ago. Net income was USD 10.75 million compared to USD 3.99 million a year ago. Basic earnings per share from continuing operations was USD 3.3 compared to USD 1.25 a year ago.
Security Federal Corporation is the holding company for Security Federal Bank (the Bank). The Bank's principal business is accepting deposits from the general public and originating commercial real estate loans, commercial and agricultural business (non-real estate) loans, consumer loans, as well as mortgage loans to buy or refinance one-to-four family residential real estate. The Bank also originates construction loans on single-family residences, multi-family dwellings and projects, and commercial real estate, as well as loans for the acquisition, development and construction of residential subdivisions and commercial projects. In addition, the Bank operates Security Federal Trust and Investments, a division of the Bank that offers trust, financial planning and financial management services. The Bank provides consumer loans for various personal, family or household purposes, mobile homes, recreational vehicles and education. The Bank has approximately 19 full-service branches.