secwatch.observer — SEC 8-K summary
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Issuer:     SECURITY FEDERAL CORP (SFDL)
CIK:        0000818677
Form:       8-K
Filed at:   2024-02-05T23:59:59+00:00
Accession:  0001437749-24-003074
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Security Federal Q4 EPS $1.12, up 10% YoY; 2023 EPS $3.14 flat
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- Q4 net income $3.6M ($1.12/sh) vs $3.3M ($1.01/sh) in Q4 2022.
- Full-year net income $10.2M ($3.14/sh) unchanged YoY; net interest income up 4.5% to $39.2M.
- Non-interest income Q4 up 28.9% to $2.8M on grant & trust revenue.
- Total assets $1.55B (+12.2%); deposits $1.19B (+7.6%); borrowings up 64.6% to $170M.
- CECL adoption reduced retained earnings $1.6M; NPAs 0.44% of assets, allowance to loans 1.98%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/818677/000143774924003074/0001437749-24-003074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/818677/000143774924003074/sfdl20240205c_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-003074

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