SECURITY FEDERAL CORP Not an Emerging Growth Company
Ticker: SFDL · Form: 8-K · Filed: Jan 10, 2024 · CIK: 818677
| Field | Detail |
|---|---|
| Company | Security Federal Corp (SFDL) |
| Form Type | 8-K |
| Filed Date | Jan 10, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: regulatory-filing, corporate-governance, compliance
TL;DR
**SECURITY FEDERAL CORP is not an emerging growth company, meaning more regulations and transparency.**
AI Summary
SECURITY FEDERAL CORP filed an 8-K on January 10, 2024, reporting an event that occurred on January 4, 2024. This filing indicates that the company is not an "emerging growth company" as defined by the SEC, which means it is subject to more extensive reporting requirements. This matters to investors because it signals that the company is a more established entity, potentially offering greater transparency and stability, but also facing higher compliance costs.
Why It Matters
This filing clarifies SECURITY FEDERAL CORP's regulatory status, indicating it's a more mature company with full SEC reporting obligations, which can impact investor perception and operational costs.
Risk Assessment
Risk Level: low — This filing is purely administrative and clarifies the company's regulatory status, posing no direct financial risk.
Analyst Insight
A smart investor would note that SECURITY FEDERAL CORP's status as a non-emerging growth company implies a more mature business with full SEC reporting, which could mean more data for analysis but also potentially higher operational overhead for the company.
Key Players & Entities
- SECURITY FEDERAL CORP (company) — registrant
- January 4, 2024 (date) — date of earliest event reported
- January 10, 2024 (date) — filing date
- South Carolina (company) — state of incorporation
- 000-16120 (dollar_amount) — Commission File Number
- 57-0858504 (dollar_amount) — IRS Employer Identification No.
- 238 Richland Avenue NW , Aiken , South Carolina 29801 (company) — principal executive offices address
- 803-641-3000 (dollar_amount) — registrant's telephone number
Forward-Looking Statements
- SECURITY FEDERAL CORP will continue to face higher compliance costs due to not being an emerging growth company. (SECURITY FEDERAL CORP) — high confidence, target: 2025-01-01
- The company's established status may lead to increased investor confidence due to greater transparency requirements. (SECURITY FEDERAL CORP) — medium confidence, target: 2024-12-31
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 4, 2024.
What is the full legal name of the registrant as specified in its charter?
The exact name of the registrant as specified in its charter is SECURITY FEDERAL CORPORATION.
What is the state of incorporation for SECURITY FEDERAL CORPORATION?
SECURITY FEDERAL CORPORATION is incorporated in South Carolina.
What is the registrant's Commission File Number?
The registrant's Commission File Number is 000-16120.
Does SECURITY FEDERAL CORPORATION qualify as an 'emerging growth company' according to this filing?
No, the filing indicates with an unchecked box that SECURITY FEDERAL CORPORATION is not an 'emerging growth company' as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Filing Stats: 404 words · 2 min read · ~1 pages · Grade level 12.9 · Accepted 2024-01-10 11:07:07
Filing Documents
- 8k142024.htm (8-K) — 23KB
- exhibit32142024.htm (EX-3.2) — 89KB
- 0000939057-24-000006.txt ( ) — 260KB
- sfdl-20240104.xsd (EX-101.SCH) — 4KB
- sfdl-20240104_lab.xml (EX-101.LAB) — 23KB
- sfdl-20240104_pre.xml (EX-101.PRE) — 16KB
- 8k142024_htm.xml (XML) — 4KB
03 Amendments to Articles of Incorporation and
Item 5.03 Amendments to Articles of Incorporation and Bylaws; Change in Fiscal Year Security Federal Corporation ("Company")'s Board of Directors approved an amendment of its Bylaws to delete in its entirety Article V – Officers – Section 12. Age Limitation – Officers , which previously contained an age limit of 70 years old for officers of the Company. This amendment is effective immediately.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits 3.2 Amended and Restated Bylaws of Security Federal Corporation. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
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: January 9, 2024 By: /s/J Chris Verenes J. Chris Verenes Chief Executive Officer