---
schema_version: "secwatch.filing_event.v1"
accession: "0000939057-22-000319"
form_type: "8-K"
ticker: "SFDL"
cik: "0000818677"
company_name: "SECURITY FEDERAL CORP"
filed_at: "2022-10-31T23:59:59+00:00"
generated_at: "2026-06-22T22:08:59.950249+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Security Federal Q3 net income $3.2M ($0.99 EPS) down from $4.6M; book value falls to $22.64

## Summary
- Net income $3.2M ($0.99 EPS) vs $4.6M ($1.43 EPS) in Q3 2021, down 30.5% YoY.
- Net interest income rose 14.9% to $10.1M; non-interest income fell 50.9% to $2.2M.
- Book value per common share dropped to $22.64 from $35.51 at Dec 31, 2021 due to AOCI loss on securities.
- No provision for loan losses in Q3 2022 vs negative $665K provision in Q3 2021; NPAs improved to 0.53%.
- Company received $82.9M ECIP preferred stock investment from Treasury in May 2022 (82,949 shares).

## SEC filing metadata
- accession: 0000939057-22-000319
- form_type: 8-K
- ticker: SFDL
- cik: 0000818677
- company_name: SECURITY FEDERAL CORP
- filed_at: 2022-10-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/818677/000093905722000319/0000939057-22-000319-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/818677/000093905722000319/8k10312022.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000939057-22-000319
- JSON: https://secwatch.observer/filing/0000939057-22-000319.json
- Plain text: https://secwatch.observer/filing/0000939057-22-000319.txt

## Key facts
- Earnings Releases
  SECURITY FEDERAL CORP reported the quarter ended September 30, 2022 results: net income $3.2 million, EPS $0.99 per common share.
  - Period: the quarter ended September 30, 2022
  - Net income: $3.2 million
  - EPS: $0.99 per common share
  - Result: reported results
  source text: Net income was $3.2 million, or $0.99 per common share, for the quarter ended September 30, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/818677/000093905722000319/0000939057-22-000319-index.htm
- Earnings Releases
  SECURITY FEDERAL CORP reported the nine months ended September 30, 2022 results: net income $6.9 million, EPS $2.13 per common share.
  - Period: the nine months ended September 30, 2022
  - Net income: $6.9 million
  - EPS: $2.13 per common share
  - Result: reported results
  source text: Year to date net income was $6.9 million, or $2.13 per common share, for the nine months ended September 30, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/818677/000093905722000319/0000939057-22-000319-index.htm

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