secwatch.observer — SEC 8-K summary
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Issuer:     SECURITY FEDERAL CORP (SFDL)
CIK:        0000818677
Form:       8-K
Filed at:   2022-10-31T23:59:59+00:00
Accession:  0000939057-22-000319
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/818677/000093905722000319/0000939057-22-000319-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/818677/000093905722000319/8k10312022.htm
  HTML page:      https://secwatch.observer/filing/0000939057-22-000319

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer