Security Federal Board approves up to $82.9M ECIP investment from U.S. Treasury

SECURITY FEDERAL CORP

Board voted to pursue up to $82,949,000 in non-dilutive Tier 1 senior perpetual preferred capital from Treasury’s ECIP.
ECIP is designed to support lending to small businesses and consumers in low-income and underserved communities.
The investment requires the Company to fulfill certain Treasury conditions and restrictions.
Security Federal Bank is a qualified CDFI with 18 branches in South Carolina and Georgia.
Funds will augment efforts to support small and minority businesses and consumers in its communities.

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