---
schema_version: "secwatch.filing_event.v1"
accession: "0000939057-22-000164"
form_type: "8-K"
ticker: "SFDL"
cik: "0000818677"
company_name: "SECURITY FEDERAL CORP"
filed_at: "2022-06-08T23:59:59+00:00"
generated_at: "2026-06-25T03:43:44.145392+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Security Federal receives $82.9M in ECIP preferred stock investment from Treasury

## Summary
- Issued 82,949 shares of Series ECIP Non-Cumulative Perpetual Preferred Stock to U.S. Treasury for $82.949 million.
- Preferred stock pays no dividend for first 24 months; thereafter annual rate up to 2% based on qualified lending targets.
- Company may redeem preferred shares on or after fifth anniversary, subject to regulatory approval.
- Dividend and share repurchase restrictions on common stock apply if preferred dividends are not paid in full.
- Excessive or luxury expenditure policy must be adopted within 90 days of closing.

## SEC filing metadata
- accession: 0000939057-22-000164
- form_type: 8-K
- ticker: SFDL
- cik: 0000818677
- company_name: SECURITY FEDERAL CORP
- filed_at: 2022-06-08T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.03, 3.02, 3.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/818677/000093905722000164/0000939057-22-000164-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/818677/000093905722000164/secfed8k52422.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000939057-22-000164
- JSON: https://secwatch.observer/filing/0000939057-22-000164.json
- Plain text: https://secwatch.observer/filing/0000939057-22-000164.txt

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