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Security Federal Bank company reports higher earnings

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Aiken-based Security Fed­eral Corp., the holding company for Security Fed­eral Bank, reported higher quarterly earnings Monday.

Security Federal reported net income of $444,000, or 15 cents per share, for the last quarter of 2012, up from $376,000, or 13 cents per share, for the quarter in 2011.

Security Federal Bank has 12 branches in South Carolina and one in Geor­gia.

Total assets at the end of the quarter were $890.4 million, down from $924.6 million at the end of March. Total deposits also decreased to $676.3 million at the end of December from $696.2 million at the end of March.

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