Security Federal Corporation Announces Second Quarter Income [Yahoo! Finance]
SECURITY FEDERAL CORP (SFDL)
NASDAQ:AMEX Investor Relations:
securityfederalbank.com/investor-relations
Company Research
Source: Yahoo! Finance
Bank (the “Bank”), today announced earnings and financial results for the three and six months ended June 30, 2024. The Company reported net income available to common shareholders of $2.1 million, or $0.66 per share, for the quarter ended June 30, 2024, compared to $1.8 million, or $0.55 per share, for the second quarter of 2023. The increase in quarterly net income was primarily due to an increase in net interest income and non-interest income and a decrease in provision for credit losses, partially offset by increases in noninterest expense and provision for income taxes, as well as the payment of preferred stock dividends during the quarter. Year-to-date net income available to common shareholders was $3.9 million, or $1.20 per common share, for the six months ended June 30, 2024, compared to $4.5 million, or $1.37 per common share, during the six months ended June 30, 2023. The decrease in year-to-date net income was primarily the result of increases in the provision for credit
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