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Security Federal Corporation Condensed Financial Statements (Parent Company Only) (Tables)
 12 Months Ended
Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Balance Sheet Data
Condensed Balance Sheet Data
 
December 31,
 
2017
 
2016
Assets:
 
 
 
Cash
$
5,098,959

 
$
4,631,554

Investment Securities, Available For Sale
—

 
213,000

Investment in Security Federal Statutory Trust
155,000

 
155,000

Investment in Security Federal Bank
92,407,398

 
90,441,110

Accounts Receivable and Other Assets
28,157

 
31,275

Total Assets
$
97,689,514

 
$
95,471,939

Liabilities and Shareholders’ Equity:
 
 
 
Accounts Payable and Other Liabilities
$
48,360

 
$
121,965

Note Payable
8,500,000

 
13,000,000

Junior Subordinated Debentures
5,155,000

 
5,155,000

Senior Convertible Debentures
6,064,000

 
6,084,000

Shareholders’ Equity
77,922,154

 
71,110,974

Total Liabilities and Shareholders’ Equity
$
97,689,514

 
$
95,471,939
Condensed Statements of Income Data
Condensed Statements of Income Data
 
Years Ended December 31,
 
2017
 
2016
 
2015
Income:
 
 
 
 
 
Equity in Earnings of Security Federal Bank
$
136,682

 
$
410,959

 
$
506,074

Dividend Income from Security Federal Bank
6,400,000

 
6,000,000

 
6,000,000

Gain on Sale of Investments
118,725

 
—

 
—

Miscellaneous Income
15,807

 
21,530

 
15,828

Total Income
6,671,214

 
6,432,489

 
6,521,902

Expenses:
 
 
 
 
 
Interest Expense
1,057,065

 
688,750

 
591,054

Other Expenses
14,349

 
69,603

 
18,822

Total Expenses
1,071,414

 
758,353

 
609,876

Income Before Income Taxes
5,599,800

 
5,674,136

 
5,912,026

Income Tax Benefit
(318,540
)
 
(250,520
)
 
(203,901
)
Net Income
5,918,340

 
5,924,656

 
6,115,927

Preferred Stock Dividends
—

 
(422,889
)
 
(440,000
)
Gain on Redemption of Preferred Stock
—

 
660,000

 
—

Net Income Available to Common Shareholders
$
5,918,340

 
$
6,161,767

 
$
5,675,927
Condensed Statements of Cash Flow Data
Condensed Statements of Cash Flow Data
 
Years Ended December 31,
 
2017
 
2016
 
2015
Operating Activities:
 
 
 
 
 
Net Income
$
5,918,340

 
$
5,924,656

 
$
6,115,927

Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities:
 
 
 
 
 
Equity in Earnings of Security Federal Bank
(136,682
)
 
(410,959
)
 
(506,074
)
Deferred Compensation Expense
25,358

 
—

 
—

Stock Compensation Expense
—

 
7,912

 
12,676

Increase in Accounts Receivable
3,117

 
14,207

 
825

(Decrease) Increase in Accounts Payable
(33,612
)
 
15,841

 
1,758

Net Cash Provided By Operating Activities
5,776,521

 
5,551,657

 
5,625,112

Investing Activities:
 
 
 
 
 
Proceeds from Sale of Investments
95,438

 
—

 
—

Net Cash Provided By Investing Activities
95,438

 
—

 
—

Financing Activities:
 
 
 
 
 
Redemption of Preferred Stock
—

 
(21,340,000
)
 
—

Redemption of Convertible Debentures
(20,000
)
 
—

 
—

Proceeds from Stock Options Exercised
176,175

 
—

 
—

Proceeds from Note Payable
—

 
14,000,000

 
—

Repayment of Note Payable
(4,500,000
)
 
(1,000,000
)
 
—

Dividends Paid to Shareholders-Preferred Stock
—

 
(422,889
)
 
(440,000
)
Dividends Paid to Shareholders-Common Stock
(1,060,729
)
 
(942,552
)
 
(942,552
)
Net Cash Used in Financing Activities
(5,404,554
)
 
(9,705,441
)
 
(1,382,552
)
Net Increase (Decrease) in Cash
467,405

 
(4,153,784
)
 
4,242,560

Cash at Beginning of Period
4,631,554

 
8,785,338

 
4,542,778

Cash at End of Period
$
5,098,959

 
$
4,631,554

 
$
8,785,338