Security Federal Corporation announced net income available to common shareholders of $2.4 million, or $0.75 per common share, for the second quarter ended June 30, 2025. This marks an 11.5% increase in net income compared to $2.1 million, or $0.66 per common share, in the second quarter of 2024.
Net interest income rose 11.1% over the prior year period, supported by higher interest income from loans and lower interest expense due to reduced balances of borrowings repaid to the Federal Reserve. Non-interest income also increased by 5.7%, benefiting from higher rental income and gains from land sales.
Credit quality showed solid momentum, with non-performing assets falling to $5.95 million, or 0.37% of total assets, from 0.47% at December 31, 2024. The company's total risk-based capital ratio remained robust at 20.46%, well above minimum required levels, and book value per common share increased to $34.02 from $31.21 at year-end 2024.
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