AIKEN, S.C., May 01, 2026 (GLOBE NEWSWIRE) -- Security Federal Corporation (the "Company") (OTCID: SFDL), the holding company for Security Federal Bank (the "Bank"), today announced earnings and financial results for the quarter ended March 31, 2026.

Net income available to common shareholders was $3.1 million, or $1.00 per common share, for the first quarter of 2026, an increase of $509,000, or 19.6% from the first quarter of 2025. The increase in net income was driven by higher net interest income (up $1.1 million, or 9.4%) and non-interest income (up $481,000, or 19.7%), which offset increased provision for credit losses (up $225,000, or 100.0%) and non-interest expense (up $720,000, or 7.3%).

 

 

 

 

 

Quarter Ended

(Dollars in Thousands, except for Earnings per Share)

 

3/31/2026

 

3/31/2025

Total interest income

 

$

18,821

 

$

19,233

Total interest expense

 

 

6,540

 

 

8,004

Net interest income

 

 

12,281

 

 

11,229

Provision for credit losses

 

 

225

 

 

-

Net interest income after provision for credit losses

 

 

12,056

 

 

11,229

Non-interest income

 

 

2,924

 

 

2,443

Non-interest expense

 

 

10,560

 

 

9,840

Income before income taxes

 

 

4,420

 

 

3,832

Provision for income taxes

 

 

905

 

 

826

Net income

 

 

3,515

 

 

3,006

Preferred stock dividends

 

 

415

 

 

415

Net income available to common shareholders

 

$

3,100