Security Federal Corporation Condensed Financial Statements (Parent Company Only) (Tables)

9 Months Ended

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheet Data

Condensed Balance Sheet Data

	At December 31,		At March 31,
	2012		2012
Assets:
Cash	$	4,098,035	$	5,471,308
Investment Securities, Available For Sale	75,225		75,750
Investment in Security Federal Statutory Trust	155,000		155,000
Investment In Security Federal Bank	89,532,985		86,405,275
Accounts Receivable And Other Assets	13,766		69,787
Total Assets	$	93,875,011	$	92,177,120
Liabilities And Shareholders’ Equity:
Accounts Payable And Other Liabilities	$	44,827	$	167,534
Junior Subordinated Debentures	5,155,000		5,155,000
Senior Convertible Debentures	6,084,000		6,084,000
Shareholders’ Equity	82,591,184		80,770,586
Total Liabilities And Shareholders’ Equity	$	93,875,011	$	92,177,120

Condensed Statements of Income Data

Condensed Statements of Income Data

	For the Nine Months Ended December 31,			For the Years Ended March 31,
	2012			2012			2011
Income:
Equity In Earnings Of Security Federal Bank	$	2,229,630		$	2,095,707		$	2,029,275
Interest Income	22,941			78,667			91,806
Miscellaneous Income	—			34,338			24,803
Total Income	2,252,571			2,208,712			2,145,884
Expenses:
Interest Expense	449,049			653,727			720,081
Mandatorily Redeemable Financial Instrument    Valuation (Income) Expense	—			(50,000		)	(196,000		)
Other Expenses	16,814			24,329			37,757
Total Expenses	465,863			628,056			561,838
Income Before Income Taxes	1,786,708			1,580,656			1,584,046
Income Tax Benefit	(168,241		)	(214,719		)	(258,867		)
Net Income	1,954,949			1,795,375			1,842,913
Preferred Stock Dividends	330,000			440,000			666,453
Accretion of Preferred Stock to Redemption Value	—			—			18,816
Net Income Available to Common Shareholders	$	1,624,949		$	1,355,375		$	1,157,644

Condensed Statements of Cash Flow Data

Condensed Statements of Cash Flow Data

	For the Nine Months Ended December 31,			For the Years Ended March 31,
	2012			2012			2011
Operating Activities:
Net Income	$	1,954,949		$	1,795,375		$	1,842,913
Adjustments To Reconcile Net Income To Net Cash Used In Operating Activities:
Equity In Earnings Of Security Federal Bank	(2,229,630		)	(2,095,707		)	(2,029,275		)
Stock Compensation Expense	4,472			33,123			34,424
Mandatorily Redeemable Financial Instrument Valuation Income	—			(50,000		)	(196,000		)
(Increase) Decrease In Accounts Receivable And Other Assets	56,203			(32,154		)	214
Decrease In Accounts Payable	(122,707		)	(5,633		)	(1,236		)
Net Cash Used In Operating Activities	(336,713		)	(354,996		)	(348,960		)
Investing Activities:
Decrease (Increase) In Loans Receivable	—			1,786,294			(1,786,294		)
Additional Investment in Security Federal Bank	—			—			(4,000,000		)
Net Cash Provided By (Used In) Investing Activities	—			1,786,294			(5,786,294		)
Financing Activities:
Proceeds From Issuance Of Common Stock	—			—			4,829,060
Proceeds From Issuance Of Preferred Stock	—			—			22,000,000
Redemption Of Preferred Stock	—			—			(18,000,000		)
Dividends Paid To Shareholders-Preferred Stock	(330,000		)	(440,000		)	(726,222		)
Dividends Paid To Shareholders-Common Stock	(706,560		)	(942,027		)	(858,184		)
Net Cash Provided By (Used In) Financing Activities	(1,036,560		)	(1,382,027		)	7,244,654
Net Increase (Decrease) In Cash	(1,373,273		)	49,271			1,109,400
Cash At Beginning Of Period	5,471,308			5,422,037			4,312,637
Cash At End Of Period	$	4,098,035		$	5,471,308		$	5,422,037