Security Federal Corp., the holding company for Security Federal Bank, reported a quarterly profit of $376,000 – up from $344,000 from the same quarter in 2010.
The Aiken-based bank reported that the increase for the quarter that ended in December was primarily the result of a decrease in expenses.
Total assets were $916.5 million, down from $933.5 million at the end of March, the beginning of its fiscal year.
Total deposits are also lower, from $690 million to $689 million, in the same period.
Security Federal has 12 full-service branches in South Carolina and one in Georgia.