---
schema_version: "secwatch.filing_event.v1"
accession: "0000939057-23-000027"
form_type: "8-K"
ticker: "SFDL"
cik: "0000818677"
company_name: "SECURITY FEDERAL CORP"
filed_at: "2023-02-06T23:59:59+00:00"
generated_at: "2026-06-20T00:38:08.058258+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Security Federal Q4 net income up 62% to $3.3M; full-year down 20% to $10.2M

## Summary
- Q4 EPS $1.01 vs $0.62 prior year; net interest income +25.9% to $11.0M.
- FY 2022 net income $10.2M ($3.14 EPS) vs $12.8M ($3.93 EPS) in 2021.
- Non-performing assets rose to 1.15% of loans ($6.4M) vs 0.56% ($2.8M) a year ago.
- Common equity book value fell to $23.76 from $35.51, driven by AOCI loss on securities.
- Issued $82.9M ECIP preferred stock in May 2022; total assets $1.38B.

## SEC filing metadata
- accession: 0000939057-23-000027
- form_type: 8-K
- ticker: SFDL
- cik: 0000818677
- company_name: SECURITY FEDERAL CORP
- filed_at: 2023-02-06T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/818677/000093905723000027/0000939057-23-000027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/818677/000093905723000027/8k123122aiken.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000939057-23-000027
- JSON: https://secwatch.observer/filing/0000939057-23-000027.json
- Plain text: https://secwatch.observer/filing/0000939057-23-000027.txt

## Key facts
- Earnings Releases
  SECURITY FEDERAL CORP reported the quarter and year ended December 31, 2022 results: net income Net income was $10.2 million, or $3.14 per common share, for 2022 compared to $12.8 million, or $3.93 per common share,, EPS $3.14 per common share.
  - Period: the quarter and year ended December 31, 2022
  - Net income: Net income was $10.2 million, or $3.14 per common share, for 2022 compared to $12.8 million, or $3.93 per common share,
  - EPS: $3.14 per common share
  - Result: reported results
  source text: the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ] Item 2.02 Results of Operations and Financial Condition On February 6, 2023, Security Federal Corporation issued its earnings release for the quarter and year ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/818677/000093905723000027/0000939057-23-000027-index.htm

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