secwatch.observer — SEC 8-K summary
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Issuer:     SECURITY FEDERAL CORP (SFDL)
CIK:        0000818677
Form:       8-K
Filed at:   2022-06-08T23:59:59+00:00
Accession:  0000939057-22-000164
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 5.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/818677/000093905722000164/0000939057-22-000164-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/818677/000093905722000164/secfed8k52422.htm
  HTML page:      https://secwatch.observer/filing/0000939057-22-000164

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