secwatch.observer — SEC 8-K summary
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Issuer:     SECURITY FEDERAL CORP (SFDL)
CIK:        0000818677
Form:       8-K
Filed at:   2025-01-31T23:59:59+00:00
Accession:  0001437749-25-002407
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Security Federal Q4 net income down 17% to $0.94/share; full-year EPS falls to $2.77
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- Q4 2024 net income available to common shareholders was $3.0M ($0.94 EPS) vs $3.6M ($1.12 EPS) in Q4 2023.
- Full-year 2024 net income available to common shareholders was $8.9M ($2.77 EPS) vs $10.2M ($3.14 EPS) in 2023.
- Provision for credit losses surged to $1.4M in 2024 from $246K in 2023, pressuring earnings.
- Net interest income rose 7.8% in Q4 to $11.3M; total assets grew 4% to $1.6B year-over-year.
- Non-performing assets increased to $7.6M (0.47% of assets) from $6.8M (0.44%) a year earlier.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/818677/000143774925002407/0001437749-25-002407-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/818677/000143774925002407/sfdl20250128_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-002407

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