---
schema_version: "secwatch.filing_event.v1"
accession: "0000939057-22-000127"
form_type: "8-K"
ticker: "SFDL"
cik: "0000818677"
company_name: "SECURITY FEDERAL CORP"
filed_at: "2022-05-02T23:59:59+00:00"
generated_at: "2026-06-26T02:18:06.068567+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Security Federal Q1 net income falls to $1.5M from $3.2M YoY; EPS $0.48 vs $0.98

## Summary
- Net income $1.5M ($0.48 EPS) vs $3.2M ($0.98 EPS) in Q1 2021; drop due to COVID reserve release in prior year.
- Net interest income $7.9M, down 1.4% from $8.0M; PPP deferred fees fell to $262K from $994K.
- No provision for loan losses in Q1 2022 vs negative provision of $870K in Q1 2021.
- Total assets $1.3B, deposits up $156M YoY to $1.1B; non-performing assets stable at 0.58% of loans.
- New Columbia, SC branch opened March 2022; Augusta, GA branch under construction for later this year.

## SEC filing metadata
- accession: 0000939057-22-000127
- form_type: 8-K
- ticker: SFDL
- cik: 0000818677
- company_name: SECURITY FEDERAL CORP
- filed_at: 2022-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/818677/000093905722000127/0000939057-22-000127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/818677/000093905722000127/8k5222.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000939057-22-000127
- JSON: https://secwatch.observer/filing/0000939057-22-000127.json
- Plain text: https://secwatch.observer/filing/0000939057-22-000127.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.