{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-24-013566","form_type":"8-K","ticker":"SFDL","cik":"0000818677","company_name":"SECURITY FEDERAL CORP","filed_at":"2024-04-29T23:59:59+00:00","discovered_at":"2026-05-14T18:03:22.068399+00:00","generated_at":"2026-06-03T06:02:00.698414+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Security Federal Q1 net income falls 34% to $1.8M; EPS $0.54 vs $0.82","bullets":["Net income of $1.8M vs $2.7M YoY; diluted EPS $0.54 vs $0.82; net interest income down 2.6%.","Net interest income $10.0M; interest expense surged 119.8% to $8.7M, outpacing interest income growth of 31.7%.","Provision for credit losses $335K vs $0 YoY; non-interest expense up 6.7% to $9.6M.","Total assets $1.5B, up $112M YoY; net loans receivable $646.0M, up $71.6M YoY.","Borrowings decreased $44.7M to $125.4M; deposits increased 8.8% YoY to $1.2B; non-performing assets stable at 0.44%."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-24-013566","json":"https://secwatch.observer/filing/0001437749-24-013566.json","markdown":"https://secwatch.observer/filing/0001437749-24-013566.md","text":"https://secwatch.observer/filing/0001437749-24-013566.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/818677/000143774924013566/0001437749-24-013566-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/818677/000143774924013566/sfdl20240429_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T06:02:00.698414+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d9ce4a3f61e0cec6080e461d96fb17e9fcd2a182","claim":"SECURITY FEDERAL CORP reported quarter ended March 31, 2024 results: net income $1.8 million, EPS $0.54 per common share.","evidence_excerpt":"The Company reported net income of $1.8 million, or $0.54 per common share, for the quarter ended March 31, 2024 compared to $2.7 million, or $0.82, for the first quarter of 2023.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/818677/000143774924013566/0001437749-24-013566-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"quarter ended March 31, 2024"},{"label":"Net income","value":"$1.8 million"},{"label":"EPS","value":"$0.54 per common share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}