Security Federal Bank in Aiken, South Carolina (SC), GA



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Security Federal Bank
GeneralFDIC Certificate #: 31100
Status: Active
Federal Reserve ID: 763677
Bank Holding Company (Regulatory Top Holder): Security Federal Corporation (RSSDID: 1253773, Location: Aiken, SC)
Date Established: January 01, 1922
WWW: http://www.securityfederalbank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 13 (Domestic: 13, Interstate: Yes)
OTS Docket #: 6380
FDIC's unique #: 43934
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: September 14, 1959
Last Structure Change Effective Date: December 28, 2011
Last Structure Change Process Date: January 04, 2012
Last Data Update: January 04, 2012
Data Source Date: April 05, 2012
LocationAddress: 100 Laurens St Sw, Aiken, SC 29801
County: Aiken
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Columbia Sc
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Augusta-Aiken, GA-SC (#600)
Core Based Statistical Area (CBSA): Augusta-Richmond County, GA-SC (#12260)
CBSA Metro Statistical Area: Augusta-Richmond County, GA-SC (#12260)
History of ChangesChange in Primary Regulatory Agency
Change in Entity Type
Change in Supervisory Agency
Financial SummaryTotal assets: $916.4 mil
Equity capital: $85.8 mil
Deposits held in domestic offices: $695.8 mil
Return on assets (ROA): 0.20% ($1.8 mil)
Quarterly return on assets: 0.24% ($2.2 mil)
Return on Equity (ROE): 2.24% ($1.9 mil)
Quarterly return on equity: 2.60% ($2.2 mil)
Net income: $1.9 mil
Quarterly Net income: $0.6 mil
Pretax return on assets: 0.42% ($3,848.7 mil)
Quarterly Pretax return on assets: 0.80% ($7,330.8 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)211
Total assets$916,356
Cash and due from depository institutions$9,524
Interest-bearing balances$1,830
Securities$398,177
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$445,799
Loan loss allowance $14,261
Trading account assets$0
Bank premises and fixed assets$19,094
Other real estate owned$13,625
Goodwill and other intangibles$1,312
All other assets$28,825
Life insurance assets$916,356
Total liabilities and capital$830,580
Total liabilities$695,767
Total deposits$652,012
Interest-bearing deposits$695,767
Deposits held in domestic offices$90
% insured (estimated)9795.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$120,574
Other borrowed funds $0
Subordinated debt $4,444
All other liabilities $85,776
Total equity capital$85,775
Total bank equity capital$85,775
Perpetual preferred stock$0
Common stock$1
Surplus$27,249
Undivided profits $58,525
Memoranda
Noncurrent loans and leases $1
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $5,631
Income earned, not collected on loans $20,033
Earning assets $0
Long-term assets (5+ years) $3,848
Average Assets, year-to-date $845,806
Average Assets, quarterly $268,326
Volatile liabilities $923,640
Insider loans $916,788
FHLB advances $464,085
Loans and leases held for sale $906,907
Unused loan commitments $10,730
Tier 1 (core) risk-based capital $7,405
Tier 2 risk-based capital $78,019
Total risk weighted assets $0
Total unused commitments $3,325
Restructured Loans and leases $42,039
Derivatives$316
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $39,266
Total interest expense $12,387
Net interest income $26,879
Provision for loan and lease losses $8,550
Total noninterest income $3,600
Fiduciary activities $481
Service charges on deposit accounts $1,205
Trading account gains & fees $0
Additional noninterest income $1,914
Total noninterest expense $20,154
Salaries and employee benefits $11,037
Premises and equipment expense $3,671
Additional noninterest expense $5,446
Pre-tax net operating income $1,775
Securities gains (losses) $2,098
Applicable income taxes $1,995
Income before extraordinary items $1,878
Extraordinary gains - net $0
Net income attributable to bank $1,878
Net charge-offs $0
Cash dividends $1,878
Sale, conversion, retirement of capital stock, net $6,698
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.62%
Cost of funding earning assets 1.46%
Net interest margin 3.16%
Noninterest income to earning assets 0.42%
Noninterest expense to earning assets 2.37%
Net operating income to assets 0.06%
Return on assets (ROA) 0.20%
Pretax return on assets 0.42%
Return on equity (ROE) 2.24%
Retained earnings to average equity (YTD only) 2.24%
Net charge-offs to loans 1.38%
Credit loss provision to net charge-offs 127.65%
Efficiency ratio1.54%
Assets per employee$65,895
Cash dividends to net income (YTD only)4.34%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.10%
Noncurrent assets plus other real estate owned to assets 71.19%
Noncurrent loans to loans 3.67%
Net loans and leases to deposits4.35%
Net loans and leases to core deposits 64.07%
Equity capital to assets 74.28%
Core capital (leverage) ratio 9.36%
Tier 1 risk-based capital ratio 8.60%
Total risk-based capital ratio 16.81%
Memoranda
Average assets$18
Average earning assets$923,640
Average equity $83,940
Average loans $850,343
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$58,855
Number of Accounts1
Personal trust and agency accounts$58,749
Employee benefit-defined contribution accounts$18,733
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$6,716
Investment management agency accounts$0
Other fiduciary accounts$32,703
Fiduciary accounts held in foreign offices$597
Non-managed Assets$0
Number of Accounts122
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$6,716
Employee benefit-defined benefit accounts$0
Other retirement accounts$106
Corporate trust and agency accounts$106
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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1 Georgia Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
109470079Evans Branch7004 Evans Town Center Blvd., Evans, GA 30809December 26, 2007Full Service Brick and Mortar
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12 South Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
043934Security Federal Bank100 Laurens St Sw, Aiken, SC 29801January 01, 1922Full Service Brick and Mortar
1283493313 Martintowne Rd Branch313 E. Martintown Rd., North Augusta, SC 29841January 01, 1922Full Service Brick and Mortar
1012834951665 Richland Avenue Branch1665 Richland Avenue, Aiken, SC 29801January 01, 1922Full Service Brick and Mortar
102219249Graniteville Branch50 Canal Street, Graniteville, SC 29829May 23, 1964Full Service Brick and Mortar
103219252Clearwater Branch4568 Jefferson Davis Hwy, Clearwater, SC 29822May 28, 1968Full Service Brick and Mortar
104224961Langley Branch2812 Augusta Street, Langley, SC 29834July 15, 1957Full Service Brick and Mortar
105224967Wagener Branch118 North Main Street, Wagener, SC 29164November 21, 1955Full Service Brick and Mortar
106283496Southside Branch2587 Whiskey Road, Aiken, SC 29803Febuary 02, 1996Full Service Brick and Mortar
107423107Lexington Branch5446 Sunset Boulevard, Lexington, SC 29072August 11, 2003Full Service Brick and Mortar
108461623West Columbia Branch1185 Sunset Boulevard, West Columbia, SC 29169June 30, 2006Full Service Brick and Mortar
110471099Assembly Street Branch1900 Assembly Street, Columbia, SC 29201November 01, 2007Full Service Brick and Mortar
1115203031705 Whiskey Rd Branch1705 Whiskey Rd, Aiken, SC 29803January 07, 2009Full Service Brick and Mortar
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