Security Federal Corp (PK:SFDL)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 238 Richland Avenue Nw AIKEN SC 29801 |
| Tel: | N/A |
| Website: | https://www.securityfederalbank.com |
| IR: | See website |
| Key People | ||
| J. Chris Verenes Chief Executive Officer, Chairman of the Board, Chief Executive Officer of the Bank | Roy G. Lindburg President, Director of Security Federal and the Bank | Darrell R. Rains Chief Financial Officer |
| Philip R. Wahl President of Bank | Robert E. Alexander Secretary, Independent Director | |
| Business Overview |
| 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. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Security Federal Corp interest income increased 53% to $65M. Net interest income after loan loss provision increased 4% to $39M. Net income remained flat at $10.2M. Net interest income after loan loss provision reflects Loans increase of 28% to $32.8M, Other Interest and Dividend Income increase from $203K to $2.8M. Net income reflects Depreciation and Maintenance of Equipmen decrease of 16% to $2.5M (expense). |
| Employees: | 258 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $195.75M as of Dec 31, 2023 |
| Annual revenue (TTM): | $64.98M as of Dec 31, 2023 |
| EBITDA (TTM): | $19.74M as of Dec 31, 2023 |
| Net annual income (TTM): | $10.19M as of Dec 31, 2023 |
| Free cash flow (TTM): | $4.32M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $41.75M as of Dec 31, 2023 |
| Shares outstanding: | 3,229,325 as of Mar 21, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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