UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 1, 2005
SECURITY FEDERAL CORPORATION
(Exact name of registrant as specified in its charter)
South Carolina 0-16120 57-0858504
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1705 Whiskey Road South, Aiken, South Carolina 29801
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number (including area code): (803) 641-3000
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions.
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
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On September 1, 2005, Security Federal Corporation announced that its
Board of Directors had approved the repurchase of up to 5%, or 125,000 shares,
of its outstanding common stock. A copy of the press release is attached
hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
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(c) Exhibits
99.1 Press Release of Security Federal Corporation dated September 1,
2005.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
SECURITY FEDERAL CORPORATION
Date: September 2, 2005 By:/s/Roy G. Lindburg
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Roy G. Lindburg
Treasurer and Chief Financial Officer
Exhibit 99.1
*FOR IMMEDIATE RELEASE*
SECURITY FEDERAL CORPORATION
TO REPURCHASE STOCK
Aiken, South Carolina (September 1, 2005) - Security Federal Corporation
(OTCBB:SFDL), holding company of Security Federal Bank, announced today that
its Board of Directors has authorized the repurchase of up to 5% of its
outstanding common shares, or approximately 125,000 shares. The repurchases
will commence immediately, subject to market conditions.
Repurchases generally would be conducted through open market broker
transactions, although unsolicited negotiated transactions or other types of
repurchases are possible.
Security Federal Bank has eleven full service branch locations in Aiken,
Clearwater, Graniteville, Langley, Lexington, North Augusta, Wagener, and West
Columbia. Additional financial services are provided by three of the Bank's
wholly owned subsidiaries, Security Federal Insurance, Inc., Security Federal
Investments, Inc., and Security Federal Trust, Inc.
Security Federal Corporation common stock began trading on the
Over-The-Counter Bulletin Board on October 9, 2003 under the symbol SFDL.OB.
Its market makers include Sterne, Agee, & Leach, Inc, Morgan Keegan, A.G.
Edwards and Sons, Inc., Monroe Securities, Inc, and Hill, Thompson, Magid.
At June 30, 2005, Security Federal Corporation had consolidated total
assets of $602.5 million and stockholders' equity of $36.4 million.
For additional information contact Roy Lindburg at (803) 641-3070
This press release may contain forward-looking statements as defined by
the Private Securities Litigation Reform Act of 1995. Any such
forward-looking statements are subject to various risks and uncertainties and
are therefore qualified by the Corporation's cautionary statements contained
in its filings with the Securities and Exchange Commission.
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