Security Federal is a community bank holding company headquartered in Aiken, South Carolina, operating through its subsidiary Security Federal Bank. The bank runs 19 branch offices across several counties in South Carolina and Georgia, serving individuals, businesses, and agricultural borrowers. Security Federal's core business is traditional community banking: it takes in deposits and lends them out at higher rates, with the net interest margin as the primary earnings driver. The loan portfolio is concentrated in commercial real estate (43%) and residential real estate (32%), with the remainder in construction, HELOCs, commercial and agricultural business loans, and consumer lending. The bank sells conforming fixed-rate residential mortgages into the secondary market and retains ARMs and jumbo loans in portfolio, which helps manage duration risk. Security Federal holds a substantial investment portfolio of roughly $776M, primarily in mortgage-backed securities, which supplements interest income from loans. Beyond lending, the bank operates a trust and investment division and an insurance agency subsidiary. A notable feature of Security Federal's balance sheet is an $82.9M preferred stock investment from the U.S. Treasury's ECIP program, received due to the bank's CDFI designation, which provides low-cost Tier 1 capital at a dividend rate no higher than 2%.