This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Security Federal Corporation Announces Earnings Increase

Security Federal Corporation (“Company”) (OTCBB:SFDL), the holding company for Security Federal Bank (“Bank”), today announced results for its fiscal year and for the fourth quarter of its fiscal year ended March 31, 2011. The Company reported net income available to common shareholders of $1.16 million or $0.43 per common share (basic) for its fiscal year ended March 31, 2011 an increase of $526,000 or 83.23% compared to net income available to common shareholders of $632,000 or $0.26 per common share (basic) for its prior fiscal year ended March 31, 2010. Net income available to common shareholders for the quarter ended March 31, 2011 was $281,000 or $0.10 per common share (basic) compared to a net loss of $155,000 or $0.06 per common share (basic) for the quarter ended March 31, 2010.

The increases in earnings for the year and the quarter ended March 31, 2011 are primarily a result of an increase in net interest margin combined with a decrease in the provision for loan losses and a decrease in preferred stock dividends. For the year ended March 31, 2011, an increase in non-interest income also contributed to the increase in earnings.

The net interest margin increased 19 basis points to 3.17% for the year ended March 31, 2011 compared to 2.98% for the previous year. As a result, net interest income increased $276,000 or 1.01% to $27.65 million for the year ended March 31, 2011, compared to $27.37 million for the year ended March 31, 2010. Net interest margin for the quarter ended March 31, 2011 also improved when compared to previous quarters. For the three months ended March 31, 2011, net interest margin increased 35 basis points to 3.41% up from 3.06% for the same quarter in 2010. As a result, net interest income increased $411,000 or 5.94% to $7.34 million for the three months ended March 31, 2011, compared to $6.93 million for the three months ended March 31, 2010.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs