46.90
+0.11%
Close of 9 Nov 2026, in USD
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About Security Federal
From its filings with the US Securities and Exchange Commission
Security Federal is based in Aiken, South Carolina and is incorporated in South Carolina. Its shares trade on OTC under the ticker SFDL. The SEC classifies its business as state commercial banks. In the fiscal year to 31 December 2025, it reported net income of $13.7m. At that date it held total assets of $1.62bn and shareholders' equity of $200.5m.
Security Federal Corporation (the "Company") was incorporated under the laws of the State of Delaware in July 1987 for the purpose of becoming the savings and loan holding company for Security Federal Bank ("Security Federal" or the "Bank") upon the Bank's conversion from mutual to stock form (the "Conversion"). Effective August 17, 1998, the Company changed its state of incorporation from Delaware to South Carolina. On December 28, 2011, the Company reorganized into a bank holding company in connection with the Bank's conversion from a federally chartered stock savings bank to a South Carolina chartered commercial bank. As a result of the reorganization, the Federal Reserve became the Company's primary federal regulator.
As a South Carolina corporation, the Company is authorized to engage in any activity permitted by South Carolina General Corporation Law. The Company is a one bank holding company. Through the bank holding company structure, it is possible to expand the size and scope of the financial services offered beyond those currently offered by the Bank. The holding company structure also provides the Company with greater flexibility than the Bank would have to diversify its business activities, through existing or newly formed subsidiaries, or through acquisitions or mergers of financial institutions as well as other companies. There are no current arrangements, understandings or agreements regarding any such acquisition. Future activities of the Company will be funded through the continuing operations of Security Federal and through borrowings from third parties.
Quoted from its 10-K, filed 20 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Banks
- Listed since
- 9 Oct 2003
- Employees
- 258
- Website
- securityfederalbank.com ↗
- Head office
- 238 RICHLAND AVENUE NW, AIKEN, SC, 29801
- Incorporated in
- SC
- Classification
- State Commercial Banks
- Filer status
- Non-accelerated filer<br>Smaller reporting company
Leadership
Pay as last reported
- Mr. Timothy SimmonsIndependent Chairman of the Board, since 1983$182,480
- Mr. Roy LindburgPresident, Director of the Company and the Bank, since 1995$459,996
- Mr. J. Chris VerenesChief Executive Officer, Director, Chairman of the Board and Chief Executive Officer of the Bank$517,921
- Mr. Darrell RainsChief Financial Officer of the Company and the Bank
- Mr. Philip WahlPresident of the Bank$369,846
- Dr. Robert AlexanderSecretary, Independent Director, since 1988$93,800
- Mr. William ClyburnIndependent Director$78,900
- Ms. Jessica CumminsIndependent Director, since 2014$89,400
- Mr. Richard HarmonIndependent Director$124,961
- Mr. Thomas MooreIndependent Director$95,550
- Mr. Frank ThomasIndependent Director, since 2007$127,000
- Mr. Frampton TooleIndependent Director, since 2019$89,400
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 0
- Environment
- 0
- Social
- 0
- Governance
- 0
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Security Federal Corp has a strong financial position and a proven track record of profitability. This allows the company to invest in innovative technologies and expand its operations.
- The company has a wide range of products and services, including banking, insurance, and investment options. This diversification helps Security Federal Corp mitigate risks and cater to the varying needs of its customers.
- Security Federal Corp boasts a well-established brand image and a loyal customer base. This allows the company to retain existing customers and attract new ones through effective marketing strategies.
Weaknesses
- One potential weakness of Security Federal Corp is its heavy reliance on traditional brick-and-mortar branches. In the digital age, online and mobile banking are becoming increasingly popular, and the company may need to invest more in digital platforms to remain competitive.
- The company also faces regulatory challenges and compliance costs, which can impact its profitability and operational efficiency.
Opportunities
- Security Federal Corp can leverage technological advancements and invest in fintech solutions to enhance customer experience, streamline processes, and gain a competitive edge in the market.
- The company can explore markets with lower competition and expand its operations geographically, both domestically and internationally, to tap into new customer segments and diversify its revenue streams.
Threats
- The financial industry is highly competitive, and Security Federal Corp faces the threat of losing customers to competitors. To mitigate this, the company needs to continuously improve its service quality, innovate products, and adapt to changing customer expectations.
- The risk of cybersecurity breaches and data theft poses a significant threat to both the company's reputation and its customers. Security Federal Corp must invest in robust cybersecurity measures and educate its customers to minimize these risks.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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