Augusta Economy

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Security Federal Corp. reports profit

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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.


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