secwatch.observer — SEC 8-K summary
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Issuer:     SECURITY FEDERAL CORP (SFDL)
CIK:        0000818677
Form:       8-K
Filed at:   2022-02-07T23:59:59+00:00
Accession:  0000939057-22-000046
Event type: earnings
Sentiment:  positive
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Security Federal Corp reports record annual net income of $12.8M for FY2021
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- FY2021 net income $12.8M ($3.93/diluted share), up 81% from $7.1M ($2.19/share) in FY2020.
- Q4 net income $2.0M ($0.62/share) vs $3.1M ($0.94/share) in Q4 2020; quarterly drop due to higher non-interest expense.
- Net interest income for year rose 9% to $33.3M; $2.4M negative provision for loan losses released as credit quality improved.
- Total assets reached $1.3B; deposits grew 21.6% to $1.1B; book value per share $35.51 from $34.40.
- Non-performing assets fell to 0.56% of gross loans from 0.75%; allowance to loans 2.19%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/818677/000093905722000046/0000939057-22-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/818677/000093905722000046/8k2722.htm
  HTML page:      https://secwatch.observer/filing/0000939057-22-000046

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