The holding company for Security Federal Bank reported net income for the last 12 months of $2.18 million, or 87 cents per share, compared to $4.28 million, or $1.66 per share, from the year before.
Net income for the last quarter was $132,000, or 5 cents per share, compared to $1.02 million, or 40 cents per share, for the fourth quarter of last year.
Bank officials said the reason for both declines was the increase in the provision for loan losses.
Total deposits were $671 million at the end of the fourth quarter, up from $590 million of a year ago.
Total assets on March 31 were $984 million, up from $840 million a year ago.
Security Federal Bank has 13 branch locations in South Carolina and Georgia.