Security Federal Q3 profit rises 13% on higher interest income
SFDL•Security Federal’s third-quarter net income available to common shareholders rose 13% year over year to $4.002 million, with net interest income up 4.9% and non-interest income up 6.0%. The company authorized repurchases of up to 124,035 shares.
1. Quarterly results
Security Federal reported third-quarter net income available to common shareholders of $4.002 million, or $1.16 per basic share. Net interest income increased 4.9% year over year to $12.67 million, while non-interest income rose 6.0%.
2. Share repurchases
The company authorized repurchases of up to 124,035 shares. It did not provide specific guidance for future quarters or the full year.
