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Security Federal Corporation Announces Increased First Quarter Earnings

Press release content from Globe Newswire. The AP news staff was not involved in its creation. Security Federal Corporation Announces Increased First Quarter Earnings Security Federal CorporationMay 3, 2021 GMT AIKEN, S. C., May 03, 2021 (GLOBE NEWSWIRE) Security Federal Corporation (“Company”) (OTCBB: SFDL), the holding company for Security Federal Bank (“Bank”), today announced earnings results for the quarter ended March 31, 2021. Net income increased to $3.2 million or $0.98 per common share (basic) for the quarter ended March 31, 2021 compared to $1.1 million or $0.34 per common share (basic) for the first quarter of 2020. The $2.1 million increase in net income was primarily the result of decreases in interest expense and loan loss provision expense during the first quarter of 2021.

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