Security Federal Bank

Headquarters

238 Richland Avenue, Nw
Aiken, SC 29801
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 0.65% →
1-Year CD 0.20% 0.70% →
2-Year CD 0.25% 0.75% →
5-Year CD 0.60% 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Security Federal Bank is an FDIC insured institution located in Aiken, SC. It was founded in 1922 and has approximately $1.17 billion in assets. Customers can open an account at one of its 16 branches.

FDIC Insured Yes
FDIC Certificate # 31100
Date Established 1922
Assets $ 1,171.21 million
Loans $ 479.17 million
Deposits $ 941.26 million
Capital $ 123.82 million
 

For a more detailed analysis of Security Federal Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - June 19, 2021

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $2,500 $4,999 Learn More
Money Market
0.10% $2,500 $2,999 Learn More
Money Market
0.15% $10,000 $14,999 Learn More
Money Market
0.20% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.15% $10,000 $14,999 Learn More
6 Mo CD
0.15% $100,000 $199,999 Learn More
12 Mo CD
0.20% $10,000 $14,999 Learn More
12 Mo CD
0.20% $100,000 $199,999 Learn More
18 Mo CD
0.20% $10,000 $14,999 Learn More
18 Mo CD
0.20% $100,000 $199,999 Learn More
24 Mo CD
0.25% $10,000 $14,999 Learn More
24 Mo CD
0.25% $100,000 $199,999 Learn More
30 Mo CD
0.30% $10,000 $14,999 Learn More
30 Mo CD
0.30% $100,000 $199,999 Learn More
36 Mo CD
0.35% $10,000 $14,999 Learn More
36 Mo CD
0.35% $100,000 $199,999 Learn More
48 Mo CD
0.45% $10,000 $14,999 Learn More
48 Mo CD
0.45% $100,000 $199,999 Learn More
60 Mo CD
0.60% $10,000 $14,999 Learn More
60 Mo CD
0.60% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less
 

Loan Rates - June 19, 2021

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Security Federal Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2021

Lender APR Rate (%) Monthly
Payment
Learn More
Beeline Loans, Inc.
NMLS ID: 1799947
2.910% 2.875%
0.50 points
$1,140 fees
$1,038 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
BMO Harris Bank
BMO Harris Bank
See Table
Intro APR 1.990 %
After Intro: 4.840 %
Intro Period: 12 months
$0 Learn More
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Bethpage Federal Credit Union
Bethpage Federal Credit Union
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Intro APR 2.990 %
After Intro: 3.750 %
Intro Period: 12 months
$25,000 Learn More
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Third Federal Savings and Loan
Third Federal Savings and Loan
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2.240 %
$0 Learn More
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Note to Security Federal Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Security Federal Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Security Federal Bank Locations


Financial Details

Security Federal Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Security Federal Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Security Federal Bank U.S. Bank Average
2.65% 5.49%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2020, Security Federal Bank had $3,125,000 in non-current loans and $499,000 in owned real estate. To cover these potential losses it had $123,815,000 in equity and $12,843,000 in loans loss reserves. That gives it a Texas Ratio of 2.65%.

Return on Equity
Security Federal Bank U.S. Bank Average
7.3% 9.24%

Security Federal Bank has a Return on Equity of 7.3% versus the BestCashCow average of 9.24%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Security Federal Bank U.S. Bank Average
10.57% 11.96%

Security Federal Bank has a Capitalization of 10.57% versus the BestCashCow average of 11.96. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Security Federal Bank Balance Sheet Analysis

As of December 31, 2020, Security Federal Bank had assets of $1,171,207,000, loans of $479,167,000, and deposits of $941,257,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 18.86 million
Interest-bearing balances $ 0.88 million
Total securities $ 607.58 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 479.17 million
Loan loss allowance $ 12.84 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.50 million
Goodwill and other intangibles $ 1.20 million
All other assets $ 37.74 million
     Total Assets $ 1,047.39 million
LIABILITIES
Total deposits $ 941.26 million
      Interest-bearing deposits $ 740.46 million
      Deposits held in domestic offices $ 941.26 million
      % insured (estimated) 76.71%
Federal funds purchased and repurchase agreements $ 13.12 million
Trading liabilities N.A.
Other borrowed funds $ 83.70 million
Subordinated debt N.A.
All other liabilities $ 9.32 million
      Total Liabilities $ 1,047.39 million
      Shareholders’ Equity $ 123.82 million

Summary Income Statement

December 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 37.92 million
Total Interest Expense $ 4.95 million
Net interest income $ 32.97 million
Provision for loan and lease losses $ 3.60 million
Total non interest income $ 9.56 million
Total non interest expense $ 29.85 million
Pre-tax Net Operating Income $ 9.09 million

Bank Loan Profile?

The top three loan types in Security Federal Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Construction and Development Loans.

Compared to other banks in South Carolina, Security Federal Bank has a significantly higher percent of Credit Card Loans, Construction and Development Loans, Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 24.52
Multifamily
Mortgages
1.21
Credit Card Loans 0.56
Consumer Auto Loans 2.41
Small Business Loans 11.40
Construction and Development Loans 15.09
Commercial Real Estate 43.69
Commercial and Industrial Loans 13.35
Farm Loans 0.00

Frequently Asked Questions About Security Federal Bank

Branches and Savings

Is Security Federal Bank FDIC insured?

Yes. It is covered under FDIC Certificate #31100.

Why does Security Federal Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Security Federal Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Security Federal Bank a commercial bank?

Yes

Where are Security Federal Bank locations?

See branch locations nearby.

Is Security Federal Bank open on Saturdays?

Is Security Federal Bank open on Sundays?

What time does Security Federal Bank open?

What time does Security Federal Bank close?

Are Security Federal Bank ATMs Open 24/7?

Do Security Federal Bank ATMs accept cash deposits?

Can Security Federal Bank customers use other ATMs?

Do Security Federal Bank branches have notaries?

Will Security Federal Bank notarize my document?

What address for Security Federal Bank should I put for incoming ACH transfers?

Will the Security Federal Bank branch print checks?

Do Security Federal Bank checks expire?

Does Security Federal Bank require US citizenship to open account?

Can Security Federal Bank close my account?

Does Security Federal Bank Report to credit bureaus?

Does Security Federal Bank Use Equifax?

What is Security Federal Bank's ACH Routing Number?

What is Security Federal Bank's SWIFT code?

Products

Does Security Federal Bank offer mortgages?

Compare mortgage rates here.

Does Security Federal Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Security Federal Bank offer personal loans?

Compare personal loan rates here.

Does Security Federal Bank offer student loans?

Will Security Federal Bank cash a check?

Will Security Federal Bank redeem a savings bond?

Does Security Federal Bank cash savings bonds?

Will Security Federal Bank cash money orders?

Can Security Federal Bank issue a money order?

Does Security Federal Bank do currency exchange?

Background on The Bank

Who owns Security Federal Bank?

How long has Security Federal Bank been around?

Can Security Federal Bank transfer to other banks?

Does Security Federal Bank have quick pay?

Does Security Federal Bank accept rolled coins?

Will Security Federal Bank accept loose change?

Where is Security Federal Bank headquarters?

Customer Reviews for Security Federal Bank


  • May 3, 2020

    Do NOT use this bank if you are seeking business banking. They randomly call notes for no reason and make lending decisions based on “good ol’ boy” discrimination. All that this institution is after is your deposits and they are not a lending bank at all. Their employees are compensated terribly and are not treated any differently in their branches and offices.

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