---
schema_version: "secwatch.filing_event.v1"
accession: "0000939057-22-000200"
form_type: "8-K"
ticker: "SFDL"
cik: "0000818677"
company_name: "SECURITY FEDERAL CORP"
filed_at: "2022-07-29T23:59:59+00:00"
generated_at: "2026-06-24T07:08:29.739505+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Security Federal Q2 net income falls to $2.2M; book value drops on ECIP preferred issuance

## Summary
- Q2 net income $2.2M ($0.67/share) vs. $2.9M ($0.90) in Q2 2021; six-month net income $3.7M ($1.14) vs. $6.1M ($1.88).
- Net interest income rose 10.4% to $8.5M; non-interest expense increased 13.2% to $8.4M.
- No provision for loan losses in 2022 vs. $735k credit in Q2 2021; non-performing assets improved to $2.6M.
- Issued 82,949 preferred shares for $82.9M under ECIP in May 2022; book value per common share fell to $25.81 from $35.51.
- Total assets grew $100.9M to $1.4B; deposits up $33.7M to $1.1B.

## SEC filing metadata
- accession: 0000939057-22-000200
- form_type: 8-K
- ticker: SFDL
- cik: 0000818677
- company_name: SECURITY FEDERAL CORP
- filed_at: 2022-07-29T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/818677/000093905722000200/0000939057-22-000200-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/818677/000093905722000200/8k72922.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000939057-22-000200
- JSON: https://secwatch.observer/filing/0000939057-22-000200.json
- Plain text: https://secwatch.observer/filing/0000939057-22-000200.txt

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