Security Federal Q3 net income surges 413% to $4.6M; EPS $1.43 vs $0.28

SECURITY FEDERAL CORP

Net income $4.6M ($1.43 EPS) vs $905K ($0.28) YoY; driven by lower interest expense and provision release.
Non-interest income up 51.6% to $4.5M, including $1.8M CDFI Rapid Response grant.
Negative provision for loan losses of $665K in Q3 vs expense of $2.2M in prior year quarter.
Non-performing assets improved to $3.1M (0.60% of loans) from $4.0M a year ago.
Book value per share $35.87, up from $33.52; total deposits rose 10.7% to $1.02B.

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