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

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheet Data

Condensed Balance Sheet Data

	At December 31,
	2014		2013
Assets:
Cash	$	4,542,778	$	3,880,433
Investment Securities, Available For Sale	151,674		101,250
Investment in Security Federal Statutory Trust	155,000		155,000
Investment In Security Federal Bank	93,860,841		85,115,889
Accounts Receivable And Other Assets	8,023		20,167
Total Assets	$	98,718,316	$	89,272,739
Liabilities And Shareholders’ Equity:
Accounts Payable And Other Liabilities	$	45,229	$	44,959
Junior Subordinated Debentures	5,155,000		5,155,000
Senior Convertible Debentures	6,084,000		6,084,000
Shareholders’ Equity	87,434,087		77,988,780
Total Liabilities And Shareholders’ Equity	$	98,718,316	$	89,272,739

Condensed Statements of Income Data

Condensed Statements of Income Data

	For the Years Ended December 31,						For the Nine Months Ended December 31,
	2014			2013			2012
Income:
Equity In Earnings Of Security Federal Bank	$	3,779,212		$	2,558,986		$	2,229,630
Dividend Income From Security Federal Bank	2,400,000			1,600,000			—
Interest Income	—			—			22,941
Miscellaneous Income	12,937			15,771			—
Total Income	6,192,149			4,174,757			2,252,571
Expenses:
Interest Expense	587,859			589,988			449,049
Other Expenses	19,382			18,223			16,814
Total Expenses	607,241			608,211			465,863
Income Before Income Taxes	5,584,908			3,566,546			1,786,708
Income Tax Benefit	(225,832		)	(224,616		)	(168,241		)
Net Income	5,810,740			3,791,162			1,954,949
Preferred Stock Dividends	440,000			440,000			330,000
Net Income Available to Common Shareholders	$	5,370,740		$	3,351,162		$	1,624,949

Condensed Statements of Cash Flow Data

Condensed Statements of Cash Flow Data

	For the Years Ended December 31,						For the Nine Months Ended December 31,
	2014			2013			2012
Operating Activities:
Net Income	$	5,810,740		$	3,791,162		$	1,954,949
Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities:
Equity In Earnings Of Security Federal Bank	(3,779,212		)	(2,558,986		)	(2,229,630		)
Stock Compensation Expense	12,676			(2,580		)	4,472
(Increase) Decrease In Accounts Receivable	(49		)	(15,248		)	56,203
Increase (Decrease) In Accounts Payable	270			132			(122,707		)
Net Cash Provided By (Used In) In Operating Activities	2,044,425			1,214,480			(336,713		)
Financing Activities:
Repayment Of Warrant Issued In Conjunction With Preferred Stock	—			(50,000		)	—
Dividends Paid To Shareholders-Preferred Stock	(440,000		)	(440,000		)	(330,000		)
Dividends Paid To Shareholders-Common Stock	(942,080		)	(942,082		)	(706,560		)
Net Cash Used In Financing Activities	(1,382,080		)	(1,432,082		)	(1,036,560		)
Net Increase (Decrease) In Cash	662,345			(217,602		)	(1,373,273		)
Cash At Beginning Of Period	3,880,433			4,098,035			5,471,308
Cash At End Of Period	$	4,542,778		$	3,880,433		$	4,098,035