SECURITY FEDERAL CORP
For the period ended Oct 17, 2024. Filed Oct 17, 2024.
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Oct 17, 2024 · Filed Oct 17, 2024
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| 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): October 17, 2024 | ||
| SECURITY FEDERAL CORPORATION | ||
| (Exact name of registrant as specified in its charter) | ||
| South Carolina | 000-16120 | 57-0858504 |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |
| 238 Richland Avenue NW, Aiken, South Carolina | 29801 | |
| (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) |
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| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On October 17, 2024, Security Federal Corporation (the “Company”) notified holders that the Company will redeem on November 22, 2024 (the “Redemption Date”) all of the Company’s outstanding 5.25% Fixed-to-Floating Rate Ten-Year Notes due November 22, 2029, having an aggregate principal amount of $16,500,000 (the “Ten-Year Notes”), in accordance with the terms of the Ten-Year Notes.
The total redemption price will be 100% of the aggregate principal amount of the Ten-Year Notes, plus accrued and unpaid interest to, but excluding, the Redemption Date. The Company will utilize excess cash on hand for the redemption payment.
A copy of the notice is attached hereto as Exhibit 99.1 and incorporated herein by reference.
| (d) | Exhibits |
| 99.1 | Notice of Redemption dated October 17, 2024. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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: October 17, 2024 | By: | /s/ Darrell Rains |
|---|---|---|
| Darrell Rains | ||
| Chief Financial Officer | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.