The following is a synopsis of our history:
February 1922- First organizational meeting of Aiken business men Henry S. Johnson, A.K. Lorenz, C.B. Anderson, E.S. Croft, P.F. Henderson, E.L. Allen, B.T. Dyches, Dr. E.H. Wyman, J.A. Thomas, R.G. Tarrant, and H.A. Clark.
March 1922- Secretary of State of South Carolina issued corporate charter to Aiken Building and Loan Association, the first financial institution of this type in Aiken. Opened main office in second floor space on Laurens Street with deposits of $50,000. First President was R.L. Gunter.
August 1958- Board of Directors Albert George, Harold Rudnick, Robert E. Johnson, Dr. Wallace McNair, Lowman Tyler, Ren Toole, Odell Weeks, Eugene Kneece, and Clifton Weeks were elected. Clif Weeks was elected President.
December 1958- Opened new office at corner of Laurens and Richland in Aiken.
September 1959- Deposit insurance was obtained from the Federal Savings and Loan Insurance Corporation (federal deposit insurance was obtained). After that, deposits began to grow rapidly.
March 1962- Name changed to Security Federal Savings and Loan Association.
July 1973- Opened first branch office on Martintown Road in North Augusta.
December 1974- Opened second branch office in the Edisto Building in Denmark, South Carolina and relocated to the East Baruch street location in September 1984. This branch was sold in February 2004.
September 1980- Main office was relocated to 1705 Whiskey Road, Aiken. This move resulted in Laurens Street becoming the fourth branch office.
March 1984- Reached over $100 million in assets.
November 1986- Name changed to Security Federal Savings Bank of South Carolina.
January 1987- Tim Simmons was named President.
October 1987- Security Federal Corporation was formed as the holding company and the Bank was converted from mutual to a stock form of ownership.
April 1988- Opened Operations Center on Pine Log Road.
October 1993- The Bank acquired four branches from NationsBank located in Graniteville, Langley, Clearwater, and Wagener.
March 1994- Reached over $200 million in assets.
April 1994- Established the Financial Counseling Department.
April 1994- Introduced Full Service Brokerage (full service stock & bond brokerage).
February 1996- Opened first in-store branch at the WalMart SuperCenter on Whiskey Road, Aiken. Installed Bank’s first ATM and was the first bank in the state (South Carolina) to offer 7-day banking.
April 1996- Changed name to Security Federal Bank.
July 1996- Introduced Looney Tunes Savings Program to help children through age 11 become financially responsible adults.
January 1997- Opened first Looney Tunes Savings Bank office in a school at Aiken Elementary School.
January 1997- Upgraded bank software, installed new hardware and wide area network.
March 2000- Reached over $300 million in assets.
December 2000- Opened new office in West Columbia.
January 2001- Established Security Federal Investments, Inc.
February 2001- Established Website and Online Banking.
May 2001- Established Customer Service Center.
January 2002- Tim Simmons named Chairman of Security Federal Bank. Tom Clark named President.
February 2002- Established Security Federal Insurance, Inc. and Security Federal Trust, Inc.
August 2002- Reached over $400 million in assets.
April 2003- Opened new office in Lexington.
October 2003- Reached over $500 million in assets.
January 2004- Chris Verenes named President of Security Federal Bank.
January 2005- Roy Lindburg named to the Board of Directors.
May 2005- Reached over $600 million in assets.
January 2006- Moved the Aiken WalMart branch to a new building in front of Target. New branch offers drive-thru and 7-day banking.
July 2006- Acquired Collier Jennings, Inc., a personal lines insurance agency.
July 2006- Main office relocated to completely renovated downtown headquarters.
October 2006- Reached over $700 million in assets.
January 2007- Broke ground in Evans, Georgia for our first out of state branch office.
October 2007- Opened new office in downtown Columbia.
December 2007- Opened new office in Evans, GA.
January 2008- Reached over $800 million in assets.
March 2008- Moved Clearwater branch to new location.
April 2008- Frank Thomas named to Board of Directors.
September 2008- Reached over $900 million in assets.
December 2008- Partnered with The Travelers Insurance Company to offer home and auto insurance in all bank branches.
September 2010- Security Federal Bank certified as a Community Development Financial Institution (CDFI).
January 2011- Chris Verenes named Chairman of Security Federal Bank. Frank Thomas named President.
December 2011- Converted to a S.C. Commercial Bank from a Federal Thrift Charter.
January 2012- Tim Simmons named Chairman of the Board of Security Federal Corporation. Barry Adams named to Board of Directors.
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