-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 SHIrab3wWoIfkCtaFZL0qc9wM/XPedKp8bdN6q6hMNy1WXNVm/J0H0CA3JSCWBKu
 TjIWnGq9pCgXolvo2PrUDA==

<SEC-DOCUMENT>0000939057-06-000072.txt : 20060310
<SEC-HEADER>0000939057-06-000072.hdr.sgml : 20060310
<ACCEPTANCE-DATETIME>20060310123458
ACCESSION NUMBER:		0000939057-06-000072
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060301
FILED AS OF DATE:		20060310
DATE AS OF CHANGE:		20060310

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SECURITY FEDERAL CORPORATION
		CENTRAL INDEX KEY:			0000818677
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				570858504
		STATE OF INCORPORATION:			SC
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		1705 WHISKEY RD.S.
		CITY:			AIKEN
		STATE:			SC
		ZIP:			29803
		BUSINESS PHONE:		8036413070

	MAIL ADDRESS:	
		STREET 1:		PO BOX 810
		CITY:			AIKEN
		STATE:			SC
		ZIP:			29802

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DAVIS RONALD R
		CENTRAL INDEX KEY:			0001355793

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-16120
		FILM NUMBER:		06678314

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(803) 641-3000

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 810
		CITY:			AIKEN
		STATE:			SC
		ZIP:			29802
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2006-03-01</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000818677</issuerCik>
        <issuerName>SECURITY FEDERAL CORPORATION</issuerName>
        <issuerTradingSymbol>SFDL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001355793</rptOwnerCik>
            <rptOwnerName>DAVIS RONALD R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P.O. BOX 810</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>AIKEN</rptOwnerCity>
            <rptOwnerState>SC</rptOwnerState>
            <rptOwnerZipCode>29802</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>VP - Sr. Internal Auditor</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <ownerSignature>
        <signatureName>/s/Ruth Vance, Attorney-in-Fact for Ronald R. Davis</signatureName>
        <signatureDate>2006-03-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----