Security Federal (Security Federal) Credit Losses Provision : $0.25 Mil (As of Dec. 2023)

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What is Security Federal Credit Losses Provision?

Security Federal's credit losses provision for the three months ended in Dec. 2023 was $0.03 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $0.25 Mil.

Security Federal's quarterly credit losses provision declined from Jun. 2023 ($0.22 Mil) to Sep. 2023 ($0.00 Mil) but then increased from Sep. 2023 ($0.00 Mil) to Dec. 2023 ($0.03 Mil).

Security Federal's annual credit losses provision increased from Dec. 2021 ($-2.40 Mil) to Dec. 2022 ($0.00 Mil) and increased from Dec. 2022 ($0.00 Mil) to Dec. 2023 ($0.25 Mil).

Security Federal Credit Losses Provision Historical Data

The historical data trend for Security Federal's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Security Federal Credit Losses Provision Chart

Security Federal Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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0.38

3.60

-2.40

0.25

Security Federal Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Credit Losses Provision	Get a 7-Day Free Trial															-	-	0.22	-	0.03

Security Federal Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.25 Mil.

Security Federal (Security Federal) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Security Federal Corp (OTCPK:SFDL) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

N/A

Address

P.O. Box 810, Aiken, SC, USA, 29802

Website

https://www.securityfederalbank.com

Security Federal Corp and its subsidiaries are involved in the business of providing commercial and personal banking services as well as auto, business, home, and health insurance. The primary business of the company is to accept deposits from the general public and originate 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. It also originates construction loans and loans for the acquisition, development, and construction of residential subdivisions and commercial projects. The bank also operates Security federal trust and investments that offer trust, financial planning, and financial management services.

Executives

J Chris Verens	director, officer: President	P O BOX 810, AIKEN SC 29802
Nathan Crowe	officer: Chief Accounting Officer	238 RICHLAND AVENUE NORTHWEST, AIKEN SC 29801
Darrell R Rains	officer: Chief Financial Officer	P.O. BOX 15367, AUGUSTA GA 30909
Philip R. Wahl	director	238 RICHLAND AVENUE NW, AIKEN SC 29801
Toole Frampton W. Iii	director	238 RICHLAND AVENUE NW, AIKEN SC 29801
Robert E Alexander	director	P O BOX 810, AIKEN SC 29802
Richard T Harmon	director, officer: Exec. VP and CLO of the Bank	238 RICHLAND AVENUE WEST, AIKEN SC 29801
Toole Gasper L Iii	director, officer: VP	P O BOX 810, AIKEN SC 29802
Jessica T Cummins	officer: Chief Financial Officer	238 RICHLAND AVENUE WEST, AIKEN SC 29801
Thomas Lucius Moore	director	P O BOX 810, AIKEN SC 29802
Thomas Francis M Jr	officer: Senior VP	P O BOX 810, AIKEN SC 29802
William Clyburn	director	P O BOX 810, AIKEN SC 29802
Roy G Lindburg	officer: Treasurer/CFO	P O BOX 810, AIKEN SC 29802
Frank M Thomas	director	PO BOX 810, AIKEN SC 29802
William Barry Adams	director, officer: Exec. VP-Security Federal Bank	P.O. BOX 810, AIKEN SC 29802