Security Federal Corporation and Subsidiaries Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended
	Jun. 30, 2011	Jun. 30, 2010
Interest Income:
Interest - Loans	$ 7,340,697	$ 8,368,838
Interest - Mortgage-Backed Securities	2,117,531	2,300,418
Investment Securities	771,454	681,245
Other Interest Income	469	174
Total Interest Income	10,230,151	11,350,675
Interest Expense:
NOW And Money Market Accounts	446,880	578,185
Statement Savings Accounts	12,674	17,507
Certificate Accounts	1,440,603	2,088,953
Advances And Other Borrowed Money	1,269,056	1,562,443
Junior Subordinated Debentures	57,847	57,897
Senior Convertible Debentures	121,680	121,680
Total Interest Expense	3,348,740	4,426,665
Net Interest Income	6,881,411	6,924,010
Provision For Loan Losses	2,300,000	1,900,000
Net Interest Income After Provision For Loan Losses	4,581,411	5,024,010
Non-Interest Income:
Gain On Sale Of Investments	171,224	199,511
Gain On Sale Of Loans	107,270	268,677
Service Fees On Deposit Accounts	270,693	293,885
Income From Cash Value Of Life Insurance	105,000	95,000
Commissions On Insurance	92,102	90,827
Trust Income	114,000	109,500
Mandatorily Redeemable Financial Instrument Valuation	50,000	(40,000)
Check Card Fee Income	202,392	165,865
Other Non-Interest Income	158,613	208,777
Total Non-Interest Income	1,271,294	1,392,042
General And Administrative Expenses:
Salaries And Employee Benefits	2,842,978	3,006,484
Occupancy	478,752	514,192
Advertising	85,680	120,794
Depreciation And Maintenance Of Equipment	412,625	456,035
FDIC Insurance Premiums	292,205	312,048
Amortization of Intangibles	22,520	22,500
Net cost of operation of other real estate owned	36,610	174,071
Other Expense	989,154	946,604
Total General And Administrative Expenses	5,160,524	5,552,728
Income Before Income Taxes	692,181	863,324
Provision For Income Taxes	231,134	322,745
Net Income	461,047	540,579
Preferred Stock Dividends	110,000	225,000
Accretion Of Preferred Stock To Redemption Value		18,816
Net Income Available To Common Shareholders	$ 351,047	$ 296,763
Basic Net Income Per Common Share	$ 0.12	$ 0.12
Diluted Net Income Per Common Share	$ 0.12	$ 0.12
Cash Dividend Per Share On Common Stock	$ 0.08	$ 0.08
Basic Weighted Average Shares Outstanding	2,944,001	2,461,095
Diluted Weighted Average Shares Outstanding	2,944,001	2,559,475