Security Federal Bank

What Security Federal Bank does

Security Federal Bank is a community bank and certified Community Development Financial Institution (CDFI) headquartered in Aiken, South Carolina, founded in 1922 and operating through 19 full-service branches across South Carolina and Georgia. The bank is a wholly-owned subsidiary of Security Federal Corporation, which trades on OTCMKTS under ticker SFDL with a market capitalization of approximately $108.3 million and total assets of approximately $1.6 billion.

The institution offers a full-service retail and small-to-mid-size business banking platform, including checking and savings accounts (CDs, IRAs, HSAs, money market), personal and commercial lending (auto, boat, RV, HELOC, SBA, commercial real estate, business lines of credit), mortgage origination, treasury management (ACH, positive pay, lockbox, remote deposit capture, wires), merchant services, trust services, and personal/business insurance. Digital infrastructure is delivered primarily through vendor integrations rather than proprietary build: the mobile and online banking platforms are powered through standard banking technology providers, with customer-facing features integrated from fintech partners including Spiral (Roundup Center savings), BaZing (rewards/cashback), Autobooks (invoicing), MyFinancialHealth (credit monitoring and identity protection), and Zelle plus Apple/Google/Samsung Pay for payments.

Revenue is generated primarily through net interest income from the loan portfolio (real estate, auto, boat, business, consumer) and non-interest income from deposit account fees, wire and overdraft charges, mortgage origination, insurance commissions, and merchant services. The bank monetizes through a hybrid model combining traditional spread-based lending, monthly account fees, and emerging subscription/transaction-based digital revenue streams (e.g., MyFinancialHealth Premium at $8.99/month). Customer segments include retail consumers, small-to-mid-size businesses, homebuyers, and—distinctively—low-income and disadvantaged communities served via CDFI lending programs (MICRO loans, WEEHILP), in-school banking ($uper $avings Club), and free financial counseling (established 1994).

Name

Security Federal Bank

Legal name

Security Federal Bank

Website

https://securityfederalbank.com

Company type

Public

Founded year

1922

Operating status

Operating

Headcount range

251–500 employees

Short description

Security Federal Bank is a community bank and CDFI founded in 1922, operating 19 branches across South Carolina and Georgia with approximately $1.6 billion in assets. It provides retail, small business, mortgage, and treasury services, with a distinctive focus on underserved community lending.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (522110)

SIC

Savings Institution, Federally Chartered (6035), National Commercial Banks (6021)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

Real Estate (Commercial Property, REITs) (FSABACAH)

Keywords

• Community banking
• Retail banking services
• Mortgage lending
• Small business lending
• CDFI lending

Headquarters

HQ city

Aiken

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Net Interest Income: Interest income from lending activities including real estate loans (commercial and residential), auto loans, boat loans, HELOC, business loans, and consumer loans, offset by interest paid on deposits.
2. Non-Interest Income: Fee income from deposit accounts, wire transfers, overdraft fees, safe deposit boxes, merchant services, mortgage origination, trust services, insurance products, and digital banking services.
3. Insurance Products: Commission revenue from personal and business insurance products including auto, home, boat, motorcycle, RV, umbrella, and workers' compensation coverage offered through Security Federal Insurance.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Security Federal Bank is a community bank and CDFI that provides personal and business deposit accounts (checking, savings, CDs, IRAs, HSAs, money market), consumer and commercial lending (auto, boat, RV, personal, HELOC, mortgage, SBA, commercial real estate), treasury management services (ACH, positive pay, lockbox, remote deposit capture, wire transfers), merchant services, trust services, and personal and business insurance products through 19 branches in South Carolina and Georgia. Revenue is generated primarily through net interest income from lending and non-interest income from deposit fees, wire transfers, overdraft fees, merchant services, mortgage origination, trust services, and insurance commissions.

Product overview

Security Federal Bank offers a comprehensive community banking platform with personal and business banking products, mortgage services, insurance, and trust services. The core offering includes checking and savings accounts, loans (personal, business, mortgage, SBA), and digital banking. Key differentiated products include: Perks Checking with BaZing rewards (up to 4.00% APY), RoundUp to Savings (automatic spare change savings), MyFinancialHealth (integrated credit monitoring), Affinity Debit Cards (community partner donations), $uper $avings Club (youth financial literacy program), and Financial Counseling (free one-on-one coaching since 1994). Treasury Management and Merchant Services support business customers, while insurance products are offered through affiliated agents. The bank operates as a CDFI-certified institution serving South Carolina and Georgia.

Differentiator

Problem solved

Functional benefit

Brands

• Perks Checking: High-yield checking account with up to 4.00% APY and BaZing rewards including fuel benefits
• RoundUp to Savings
• $uper $avings Club
• MyFinancialHealth
• BaZing
• Affinity Debit Cards

Products and services

• Personal Checking Accounts Variety of personal checking account options including Jumpstart Checking for teens, Perks Checking with rewards benefits, and standard checking with overdraft protection options, for retail consumers seeking everyday banking.
• Personal Savings Accounts Personal savings products including Certificate of Deposit (CDs), Christmas Club Account, Health Savings Account (HSA), IRA Accounts, Money Market Account, and Youth Savings Accounts for individual savers.
• Personal Loans Personal lending products including Auto Loans, Boat Loans, RV Loans, Personal Loans, Personal Lines of Credit, and Residential Lot Loans for individual borrowers.
• Mortgage Services Residential mortgage lending including purchase, refinance, and construction loans with FHA, VA, USDA, conventional, SC State Housing, and City Lender loan programs, delivered through dedicated local loan officers.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity for major financial needs with flexible borrowing options for individual homeowners.
• Digital Banking Online and mobile banking platform (iOS and Android) with mobile check deposit, bill pay, account management, secure messaging, card controls, Zelle, Apple Pay, Google Pay, Samsung Pay, and eStatements.
• Debit and Credit Cards Personal and business debit cards and credit cards with card management controls, fraud alerts, and mobile deactivation capabilities.
• Business Checking Accounts Business checking options including Interest on Lawyers Trust Account (IOLTA) and various commercial checking accounts with different features and fee structures for small businesses and commercial clients.
• Business Savings Accounts Business savings products including Regular Savings Account, Certificate of Deposit (CDs), Money Market Account, and Pre-Need Account for commercial customers.
• Business Loans Comprehensive business lending including Small Business Loans, Commercial Real Estate and Construction Loans, Equipment Loans, Business Lines of Credit, Business Term Loans, Acquisition and Development Loans, and Medical Lending.
• SBA Loans Small Business Administration backed loans including SBA 7(a) and SBA 504 loan programs for equipment, real estate, working capital, and business acquisition for small businesses.
• Treasury Management Business cash management services including ACH services, Positive Pay fraud prevention, Lockbox, Remote Deposit Capture, Treasury Online Banking, and wire transfers for business customers.
• Merchant Services Payment processing services enabling business customers to accept card payments.
• Trust Services Financial management and trust services for wealth building, protection, and succession planning for individuals and businesses.
• Business Insurance Commercial insurance products including Business Owner's Policy, Business Auto Insurance, Business Property Insurance, Business Liability Insurance, Workers' Compensation, Business Umbrella Liability Insurance, and Builder's Risk Insurance offered through Security Federal Insurance.
• Personal Insurance Personal insurance products including Auto, Home, Renters, Condo, Mobile Home, Landlord Protection, Umbrella, Wedding and Event, and Jewelry coverage offered through Security Federal Insurance.
• Financial Counseling Program No-cost, confidential one-on-one financial counseling established in 1994, helping individuals reduce debt, establish credit, qualify for loans, and develop budgeting and savings skills.
• $uper $avings Club In-school banking program for children ages 11 and under, teaching financial literacy and savings habits through school partnerships across South Carolina and Georgia.
• CDFI Lending Programs CDFI flexible underwriting lending programs including MICRO loans and the Weatherization and Energy Efficiency Home Improvement Program (WEEHILP), offering low interest rates and flexible terms to borrowers in underserved communities.

Quantifiable outcome

• Q1 2026 net income $3.1 million, up 19.6% year-over-year
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability5 records

Feature6 records

Partnerships

One partnership is on record.

• SpiralcoreTechnology or Integration · 21 July 2026Security Federal Bank partnered with fintech platform Spiral to power Roundup Center, a digital banking feature that automatically rounds up debit card purchases and directs spare change to savings goals or charitable organizations. The feature integrates into Security Federal Bank's digital banking platform, offering real-time impact tracking and tax-deductible donation receipts. Both companies position this as a customer engagement and deposit growth tool.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• SouthState Corporation: Large Southeast regional bank with significant presence in South Carolina and Georgia. Offers overlapping consumer and commercial banking products including mortgages and SBA lending, but operates at a materially larger scale than Security Federal Bank.
• WSFS Financial Corporation: Largest locally headquartered community bank in the Mid-Atlantic with comparable full-service consumer, commercial, and wealth management offerings. Comparable community banking philosophy though larger scale.
• First Citizens BancShares: Large North Carolina-headquartered bank holding company where incoming CEO Phil Wahl held prior leadership roles. Provides regional retail, commercial, and mortgage banking across the Southeast, with materially larger scale.

Direct peers

• Atlantic Capital Bancshares: Southeast-focused community bank providing commercial banking, treasury management, and lending services in similar regional markets. Comparable asset size and community banking orientation.
• United Community Banks: Southeast-focused community bank with overlapping geographic footprint in the Carolinas and Georgia. Operates a similar branch-based model with consumer deposits, mortgage lending, and small business banking, though larger in scale.
• First Bancorp: North Carolina-based community bank holding company operating a similar full-service retail and commercial banking model across the Southeast. Comparable in asset size, branch-based distribution, and focus on consumer/small business lending.
• Howard Bancorp: Community-focused bank with similar asset size and full-service consumer/commercial banking products. Comparable in scale and community bank philosophy.
• Bank of South Carolina Corporation: Small publicly traded community bank holding company headquartered in Charleston, SC. Highly comparable in scale, branch-based community banking model, and Carolinas geographic focus.
• Park National Corporation: Community-oriented bank holding company with a comparable model of decentralized community banking, full-service consumer and commercial products, and consistent dividend payments. Similar asset tier and regional banking philosophy.

Emerging players

• Live Oak Bancshares: Southeast-based digital-first community bank with strong SBA lending focus and fintech partnerships. Overlaps with Security Federal in SBA, small business lending, and digital banking innovation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/user/SecurityFederalBank
• Facebookfacebook.com/secfedbank
• Instagraminstagram.com/securityfederalbank
• Xx.com/SecFedBank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Security Federal Bank