Security Federal Corp (SFDL) Financial Statements (2025 and earlier)

Company Profile

Business Address 238 RICHLAND AVENUE NW
AIKEN, SC 29801
State of Incorp. SC
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2025
MRQ
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments178,277128,28428,50227,62318,02512,536
Cash and cash equivalent178,277128,28428,50227,62318,02512,536
Receivables   555,041505,483  
Debt securities, held-to-maturity, accrued interest, after allowance for credit loss788   
Total current assets:178,277129,072583,543533,10618,02512,536
Noncurrent Assets
Operating lease, right-of-use asset9271,4021,8612,2522,352 
Property, plant and equipment29,32128,63727,96025,23726,57527,220
Long-term investments and receivables   5,9472,147  
Accounts and financing receivable, after allowance for credit loss   5,9472,147  
Intangible assets, net (including goodwill)1,2001,2001,2001,2001,2001,200
Goodwill1,2001,2001,2001,2001,2001,200
Total noncurrent assets:31,44831,23936,96830,83630,12728,420
Other undisclosed assets1,402,0481,389,360760,855737,2711,123,558922,272
TOTAL ASSETS:1,611,7731,549,6711,381,3661,301,2141,171,710963,228
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt     25,00013,138
Total current liabilities:     25,00013,138
Noncurrent Liabilities
Other undisclosed liabilities1,429,3841,377,3091,221,1331,185,6911,034,804858,332
Total liabilities:1,429,3841,377,3091,221,1331,185,6911,059,804871,470
Equity
Equity, attributable to parent, including:182,389172,362160,233115,523111,90691,758
Preferred stock82,94982,94982,949   
Common stock3535    
Treasury stock, value(5,964)(4,913)(4,331)(4,331)(4,331)(4,331)
Additional paid in capital18,33618,28718,23018,23018,23012,308
Accumulated other comprehensive income (loss)(31,105)(35,050)(40,779)5,21512,9414,468
Retained earnings118,138111,054104,12996,37385,03179,281
Other undisclosed equity, attributable to parent   35353532
Total equity:182,389172,362160,233115,523111,90691,758
TOTAL LIABILITIES AND EQUITY:1,611,7731,549,6711,381,3661,301,2141,171,710963,228

Income Statement (P&L) ($ in thousands)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues78,87666,38728,32931,65730,50927,175
Net investment income77,30664,97725,84027,21026,35724,772
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(1,370)(246)  (3,600)(375)
Gross profit:77,50666,14128,32931,65726,90926,800
Operating expenses(4,955)(6,206)(34,225)(32,047)(29,708)(27,871)
Other operating income, net
(Noninterest Income, Other Operating Income)
7568099118601,0811,138
Operating income (loss):73,30760,744(4,985)469(1,718)67
Nonoperating income70663617,3465,2015,1736,183
Investment income, nonoperating   16,7384,5664,6005,505
Bank owned life insurance income706636608635573679
Interest and debt expense  (25,729)(5,028)(3,824)(6,582)(8,312)
Income (loss) from continuing operations before equity method investments, income taxes:74,01335,6517,3331,846(3,127)(2,061)
Other undisclosed loss from continuing operations before income taxes(61,449)(23,173)    
Income (loss) from continuing operations before income taxes:12,56412,4787,3331,846(3,127)(2,061)
Income tax expense(2,757)(2,288)(2,709)(3,509)(1,577)(1,680)
Income (loss) from continuing operations:9,80710,1904,624(1,663)(4,704)(3,741)
Loss before gain (loss) on sale of properties:(1,663)(4,704)(3,741)
Net income (loss):9,80710,1904,624(1,663)(4,704)(3,741)
Other undisclosed net income attributable to parent   5,60414,43711,75511,535
Net income attributable to parent:9,80710,19010,22812,7747,0517,794
Preferred stock dividends and other adjustments(926)     
Net income available to common stockholders, basic:8,88110,19010,22812,7747,0517,794
Dilutive securities, effect on basic earnings per share      363
Net income available to common stockholders, diluted:8,88110,19010,22812,7747,0518,157

Comprehensive Income ($ in thousands)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income (loss):9,80710,1904,624(1,663)(4,704)(3,741)
Other comprehensive income (loss)   (45,995)(7,726)8,4734,495
Comprehensive income (loss):9,80710,190(41,371)(9,389)3,769755
Other undisclosed comprehensive income, net of tax, attributable to parent3,9455,7295,60414,43711,75511,535
Comprehensive income (loss), net of tax, attributable to parent:13,75215,919(35,767)5,04815,52412,290

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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