secwatch.observer — SEC 8-K summary
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Issuer:     SECURITY FEDERAL CORP (SFDL)
CIK:        0000818677
Form:       8-K
Filed at:   2023-10-30T23:59:59+00:00
Accession:  0001437749-23-029362
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 falls 34% to $2.1M; EPS $0.65 vs $0.99
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/818677/000143774923029362/0001437749-23-029362-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/818677/000143774923029362/sfdl20231027_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-029362

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