secwatch.observer — SEC 8-K summary
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Issuer:     SECURITY FEDERAL CORP (SFDL)
CIK:        0000818677
Form:       8-K
Filed at:   2023-02-06T23:59:59+00:00
Accession:  0000939057-23-000027
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/818677/000093905723000027/0000939057-23-000027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/818677/000093905723000027/8k123122aiken.htm
  HTML page:      https://secwatch.observer/filing/0000939057-23-000027

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