---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-029362"
form_type: "8-K"
ticker: "SFDL"
cik: "0000818677"
company_name: "SECURITY FEDERAL CORP"
filed_at: "2023-10-30T23:59:59+00:00"
generated_at: "2026-06-09T06:23:29.200102+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 falls 34% to $2.1M; EPS $0.65 vs $0.99

## Summary
- Net income $2.1M ($0.65/share) vs $3.2M ($0.99/share) in Q3 2022, down 34%.
- Net interest income fell 6.8% to $9.4M as interest expense surged 536% to $7.4M.
- Total assets grew 8.7% YoY to $1.48B; deposits up 6.0% YoY to $1.19B.
- Non-performing assets stable at $6.3M, 0.43% of total assets, vs $2.8M a year ago.
- Year-to-date net income $6.6M ($2.02/share) vs $6.9M ($2.13/share) in prior period.

## SEC filing metadata
- accession: 0001437749-23-029362
- form_type: 8-K
- ticker: SFDL
- cik: 0000818677
- company_name: SECURITY FEDERAL CORP
- filed_at: 2023-10-30T23:59:59+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/818677/000143774923029362/0001437749-23-029362-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/818677/000143774923029362/sfdl20231027_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-029362
- JSON: https://secwatch.observer/filing/0001437749-23-029362.json
- Plain text: https://secwatch.observer/filing/0001437749-23-029362.txt

## Key facts
- Earnings Releases
  SECURITY FEDERAL CORP reported the nine months ended September 30, 2023 results: net income net income of $6.6 million, EPS $2.02 per common share.
  - Period: the nine months ended September 30, 2023
  - Net income: net income of $6.6 million
  - EPS: $2.02 per common share
  - Result: reported results
  source text: Year to date net income was $6.6 million, or $2.02 per common share, for the nine months ended September 30, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/818677/000143774923029362/0001437749-23-029362-index.htm
- Earnings Releases
  SECURITY FEDERAL CORP reported the quarter ended September 30, 2023 results: net income net income of $2.1 million, EPS $0.65 per share.
  - Period: the quarter ended September 30, 2023
  - Net income: net income of $2.1 million
  - EPS: $0.65 per share
  - Result: reported results
  source text: The Company reported net income of $2.1 million, or $0.65 per share, for the quarter ended September 30, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/818677/000143774923029362/0001437749-23-029362-index.htm

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