SFDL Security Federal
Security Federal Corp. operates as a holding company. It operates through its subsidiary Security Federal Bank which engages in accepting deposits from the general public and originating commercial real estate loans, commercial business loans, consumer loans, as well as mortgage loans to buy or refinance one-to-four family residential real estate. The company was founded in July 1987 and is headquartered in Aiken, SC.
Company profile
Ticker
SFDL
Exchange
Website
CEO
J. Chris Verenes
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
SECURITY FEDERAL CORPORATION
SEC CIK
Corporate docs
IRS number
570858504
SFDL stock data
()
Investment data
Securities sold
Number of investors
Calendar
29 Mar 21
13 Apr 21
31 Dec 21
Financial summary
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Dec 20 | Sep 20 | Jun 20 | Mar 20 | |
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Dec 20 | Dec 19 | Dec 18 | Dec 17 | |
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Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 18.03M | 18.03M | 18.03M | 18.03M | 18.03M | 18.03M |
Cash burn (monthly) | (positive/no burn) | (positive/no burn) | 5.25M | 2.3M | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | n/a | n/a | 18.13M | 7.95M | n/a | n/a |
Cash remaining | n/a | n/a | -107.51K | 10.08M | n/a | n/a |
Runway (months of cash) | n/a | n/a | -0.0 | 4.4 | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
20 Aug 20 | Verenes Chris J | Common Stock, par value $0.01 per share | By will or laws of descent | Aquire W | No | No | 0 | 1,250 | 0 | 35,526 |
26 Feb 20 | Hurt Margaret A | Common Stock, par value $0.01 per share | Other | Aquire J | No | No | 30.16 | 55 | 1.66K | 5,648 |
26 Feb 20 | Hurt Margaret A | Common Stock, par value $0.01 per share | Conversion | Aquire C | No | No | 20 | 500 | 10K | 5,593 |
26 Feb 20 | Hurt Margaret A | 8% Convertible Senior Debenture Common Stock | Conversion | Dispose C | No | No | 20 | 500 | 10K | 0 |
21 Feb 20 | Toole Frampton W. III | Common Stock, par value $0.01 per share | Conversion | Aquire C | No | No | 20 | 12,500 | 250K | 153,650 |
21 Feb 20 | Toole Frampton W. III | 8% Convertible Senior Debentures Common Stock | Conversion | Dispose C | No | No | 20 | 12,500 | 250K | 0 |
17 Feb 20 | Robert E Alexander | Common Stock, par value 0.01 per share | Conversion | Aquire C | Yes | No | 20 | 500 | 10K | 3,000 |
17 Feb 20 | Robert E Alexander | Common Stock, par value 0.01 per share | Conversion | Aquire C | Yes | No | 20 | 1,250 | 25K | 4,350 |
17 Feb 20 | Robert E Alexander | 8% Convertible Senior Debentures Common Stock | Conversion | Dispose C | Yes | No | 20 | 500 | 10K | 0 |
17 Feb 20 | Robert E Alexander | 8% Convertible Senior Debentures Common Stock | Conversion | Dispose C | Yes | No | 20 | 1,250 | 25K | 0 |
Financial report summary
?Competition
FintechRisks
- Our business may be adversely affected by downturns in the national economy and in the economies in our market areas.
- Our allowance for loan losses may prove to be insufficient to absorb losses in our loan portfolio.
- If our non-performing assets increase, our earnings will be adversely affected.
- Our level of commercial and multifamily real estate loans may expose us to increased lending risks.
- Our construction and land loans are based upon estimates of costs and the value of the completed project.
- The level of our commercial real estate loan portfolio may subject us to additional regulatory scrutiny.
- Declines in property values have increased loan-to-value ratios on a significant portion of our one- to four-family loans and home equity lines of credit, which exposes us to greater risk of loss.
- Loans originated under the SBA Paycheck Protection Program subject us to credit, forgiveness and guarantee risk.
- Our real estate lending also exposes us to the risk of environmental liabilities.
- If our investments in real estate are not properly valued or sufficiently reserved to cover actual losses, or if we are required to increase our valuation reserves, our earnings could be reduced.
- We may incur losses on our securities portfolio as a result of changes in interest rates.
- Changes in interest rates may reduce our net interest income, and may result in higher defaults in a rising rate environment.
- An increase in interest rates, change in the programs offered by governmental sponsored entities ("GSE"), or our ability to qualify for such programs may reduce our mortgage revenues, which would negatively impact our non-interest income.
- New or changing tax, accounting, and regulatory rules and interpretations could significantly impact strategic initiatives, results of operations, cash flows, and financial condition.
- Non-compliance with the USA PATRIOT Act, Bank Secrecy Act, or other laws and regulations could result in fines or sanctions.
- Our growth or future losses may require us to raise additional capital in the future, but that capital may not be available when it is needed, or the cost of that capital may be very high.
- Our business may be adversely affected by an increasing prevalence of fraud and other financial crimes.
- We are subject to certain risks in connection with our data management or aggregation.
- We are dependent on key personnel and the loss of one or more of those key personnel may materially and adversely affect our prospects.
- Liquidity risk could impair our ability to fund operations and jeopardize our financial condition, growth and prospects.
Content analysis
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Readability |
H.S. sophomore Avg
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New words:
Aid, arose, behavior, CAA, CBLR, CBRL, chain, challenging, claim, climate, confirmed, Darrell, deadline, deferral, demographic, deny, discount, distancing, downgrade, efficacy, encourage, extraordinary, feasible, forgiven, frame, GAAP, goodwill, grace, gradual, great, guaranty, hospitality, ineligible, insignificant, insolvency, intangible, interagency, interim, led, leisure, lifecycle, month, Notwithstanding, observe, omitted, ongoing, onset, pandemic, Paycheck, payroll, persisted, PPP, precipitously, put, qualitative, rapid, reassessed, rebounded, recession, reimburse, remitting, remote, remotely, reopen, reopening, resume, resumed, resurgence, reverting, shelter, showed, simple, Southeastern, speed, supplementary, suspension, uncertain, unemployed, unknown, unprecedented, vaccination, western, window, Woodside, World, worldwide, worsen
Removed:
annum, avoid, discretionary, Dodd, Elliott, Fed, Frank, LLC, mature, noncumulative, paying, publicly, redeemable, sum, thrift
Financial reports
10-K
2020 FY
Annual report
29 Mar 21
10-Q
2020 Q3
Quarterly report
13 Nov 20
10-Q
2020 Q2
Quarterly report
13 Aug 20
10-Q
2020 Q1
Quarterly report
14 May 20
10-K
2019 FY
Annual report
20 Mar 20
10-Q
2019 Q3
Quarterly report
14 Nov 19
10-Q
2019 Q2
Quarterly report
13 Aug 19
10-Q
2019 Q1
Quarterly report
14 May 19
10-K
2018 FY
Annual report
22 Mar 19
10-Q
2018 Q3
Quarterly report
14 Nov 18
Current reports
8-K
Security Federal Corporation Announces Fourth Quarter and Annual Earnings
9 Feb 21
8-K
Departure of Directors or Certain Officers
1 Feb 21
8-K
Security Federal Corporation Announces Third Quarter Earnings
30 Oct 20
8-K
Security Federal Corporation Announces Second Quarter Earnings
31 Jul 20
8-K
Security Federal Corporation Announces Resignation of Cfo and Appointment of New Cfo
9 Jun 20
8-K
Submission of Matters to a Vote of Security Holders
26 May 20
8-K
Security Federal Corporation Announces First Quarter Earnings
4 May 20
8-K
Security Federal Corporation Announces Increase In Fourth Quarter and Annual Earnings
3 Feb 20
8-K
Other Events
3 Jan 20
8-K
Entry into a Material Definitive Agreement
22 Nov 19
Registration and prospectus
D
$30M in debt, sold $30M, 24 investors
25 Nov 19
S-8
Registration of securities for employees
31 May 18
D
$5M in equity
31 Oct 10
D
$4M in equity, sold $4M, 1 investor
28 Sep 10
S-1/A
IPO registration (amended)
1 Sep 09
S-1/A
IPO registration (amended)
26 Aug 09
S-1
IPO registration
12 Jul 09
S-8
Registration of securities for employees
11 Nov 08
S-8
Registration of securities for employees
21 Aug 06
S-8
Registration of securities for employees
2 Jan 03
Proxies
DEF 14A
Definitive proxy
29 Mar 21
DEFA14A
Additional proxy soliciting materials
1 May 20
DEF 14A
Definitive proxy
24 Mar 20
DEF 14A
Definitive proxy
25 Mar 19
DEF 14A
Definitive proxy
27 Mar 18
DEF 14A
Definitive proxy
19 Mar 17
DEF 14A
Definitive proxy
20 Mar 16
DEF 14A
Definitive proxy
22 Mar 15
DEF 14A
Definitive proxy
27 Mar 14
DEF 14A
Definitive proxy
19 Mar 13
Other
UPLOAD
Letter from SEC
6 May 15
CORRESP
Correspondence with SEC
5 May 15
UPLOAD
Letter from SEC
22 Apr 15
UPLOAD
Letter from SEC
9 Nov 09
EFFECT
Notice of effectiveness
7 Sep 09
CORRESP
Correspondence with SEC
1 Sep 09
CORRESP
Correspondence with SEC
1 Sep 09
UPLOAD
Letter from SEC
31 Aug 09
CORRESP
Correspondence with SEC
26 Aug 09
CORRESP
Correspondence with SEC
26 Aug 09
Ownership
5
SECURITY FEDERAL / CHRIS J VERENES ownership change
11 Feb 21
3
SECURITY FEDERAL / Darrell R Rains ownership change
1 Jul 20
4
SECURITY FEDERAL / Frampton W. Toole III ownership change
22 Apr 20
4
SECURITY FEDERAL / TIMOTHY W SIMMONS ownership change
22 Apr 20
4
SECURITY FEDERAL / HARRY O WEEKS JR ownership change
20 Apr 20
4
SECURITY FEDERAL / CHRIS J VERENES ownership change
20 Apr 20
4
SECURITY FEDERAL / FRANCIS M THOMAS JR ownership change
20 Apr 20
4
SECURITY FEDERAL / THOMAS LUCIUS MOORE ownership change
20 Apr 20
4
SECURITY FEDERAL / ROY G LINDBURG ownership change
20 Apr 20
4
SECURITY FEDERAL / MARGARET A HURT ownership change
20 Apr 20