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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,
 U8i4hafIUsGxTTFyramGeF0Au+UuRcLSbmigVAnB8EBDqL9MhGWWTWOKBkuBR8bx
 V7wqsp22hDUOo2JwvadJmA==

<SEC-DOCUMENT>0000939057-07-000149.txt : 20070508
<SEC-HEADER>0000939057-07-000149.hdr.sgml : 20070508
<ACCEPTANCE-DATETIME>20070508165318
ACCESSION NUMBER:		0000939057-07-000149
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070409
FILED AS OF DATE:		20070508
DATE AS OF CHANGE:		20070508

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:			TOOLE GASPER L III
		CENTRAL INDEX KEY:			0001220978

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-16120
		FILM NUMBER:		07828847

	MAIL ADDRESS:	
		STREET 1:		P O BOX 810
		CITY:			AIKEN
		STATE:			SC
		ZIP:			29802
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-04-09</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001220978</rptOwnerCik>
            <rptOwnerName>TOOLE GASPER L III</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>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-04-09</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>G</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness>
                <value>E</value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>200</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>105600</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Reporting person made a gift of securities to his wife, who shares reporting person's household, and whose holdings and transactions are attributable to the reporting person.</footnote>
        <footnote id="F2">Includes 26,500 shares held by wife.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/Beverly S. Bradham Attorny-In-Fact</signatureName>
        <signatureDate>2007-05-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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