-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LlvDOBMQRZGKI1SNm2AuUrG1rPaPWklgYfUyCjEhwjBkCDYyznf0EWVcOhPeTgr7
 P3uTL7ZxyptJuaCZjDFSPg==

<SEC-DOCUMENT>0000939057-06-000187.txt : 20060707
<SEC-HEADER>0000939057-06-000187.hdr.sgml : 20060707
<ACCEPTANCE-DATETIME>20060707100745
ACCESSION NUMBER:		0000939057-06-000187
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060630
FILED AS OF DATE:		20060707
DATE AS OF CHANGE:		20060707

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SECURITY FEDERAL CORP
		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:		238 RICHLAND AVENUE WEST
		CITY:			AIKEN
		STATE:			SC
		ZIP:			29801
		BUSINESS PHONE:		8036413000

	MAIL ADDRESS:	
		STREET 1:		238 RICHLAND AVENUE WEST
		CITY:			AIKEN
		STATE:			SC
		ZIP:			29801

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SECURITY FEDERAL CORPORATION
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JENNINGS GERALD D
		CENTRAL INDEX KEY:			0001368127

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-16120
		FILM NUMBER:		06949783

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(803) 649-5771

	MAIL ADDRESS:	
		STREET 1:		157 PINE NEEDLE RD.
		CITY:			AIKEN
		STATE:			SC
		ZIP:			29803
</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>2006-06-30</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001368127</rptOwnerCik>
            <rptOwnerName>JENNINGS GERALD D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>157 PINE NEEDLE RD.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>AIKEN</rptOwnerCity>
            <rptOwnerState>SC</rptOwnerState>
            <rptOwnerZipCode>29803</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Pres., Collier Jennings Fincl.</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>55395</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The reporting person is the president and sole shareholder of Collier Jennings Real Estate, LLC, which acquired 55,395 shares of the issuer's common stock as part of the consideration for the issuer's acquisition of all of the outstanding shares of Collier Jennings Financial Corporation.  Prior to the acquisition, Collier Jennings Financial Corporation was owned by Collier Jennings Real Estate, LLC.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/Beverly S. Bradham, Attorney-in-Fact for Gerald D. Jennings</signatureName>
        <signatureDate>2006-07-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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