About Us
.png)
Who We Are
Since 1922, Security Federal Bank has proudly served our community as a locally owned and operated bank—a distinction that sets us apart. With over a century of history in Aiken and the surrounding region, we’re not just in the community—we’re part of it.
At Security Federal, banking is personal. We know our customers by name, and they know us by ours. Whether we’re helping a family buy their first home, guiding a local business through growth, or offering free financial counseling to someone looking to get back on track—we go beyond transactions. We build relationships.
You’ll find us at local schools, community events, and festivals—not just as sponsors, but as neighbors and volunteers. Our team lives here, works here, and gives back here. We are committed to supporting local, because we are local.
Every decision we make is guided by our long-standing motto: “Do what’s in the best interest of the customer.”
It’s more than a saying—it’s our way of doing business. This slogan reverberates throughout the entire organization and is spoken frequently by our Chairman of the Board.
Banking Services
Security Federal offers a full line of personal and commercial products including online and mobile banking, online bill payment, and a broad array of commercial, consumer and mortgage loan products. We are also proud of our $uper $avings Club for youngsters and our Financial Counseling Department, both of which provide innovative products and approaches that enhance financial education and help people become good stewards of their fiscal resources. We believe in investing in our community. That’s one reason the U.S. Treasury awarded us national recognition and certification as a Community Development Financial Institution (CDFI) in September 2010.
Trusts and Investments
We want to help our customers reach their financial goals. That’s why we offer financial management services through two divisions: Security Federal Investments1 and Security Federal Trust1. Our Trust division provides services that assist you in managing personal investments, paying bills for loved ones, or carrying out an estate plan, while the Investment division offers a full menu of financial products including mutual funds, annuities, and various retirement accounts.
Insurance Products
Security Federal Insurance1 offers an extensive line of insurance* products, including business, personal, auto and homeowners to protect your personal and business assets.
Please stop in at one of our convenient locations. We would love to get to know you, your family, and your business too, and see if we can help you manage your financial resources and reach your personal goals.
1Insurance, Investment and Trust Products are: Not FDIC Insured, Not Bank Guaranteed, May Lose Value, Not Insured by any Government Agency, Not a Bank Deposit
Our History
Security Federal Bank was founded in 1922 in picturesque Aiken, South Carolina. In 1987, we formed a holding company, Security Federal Corporation, which trades on the Over the Counter Bulletin Board under the symbol SFDL.OB. We have branches located throughout Aiken, Lexington and Richland Counties (Metro Columbia), South Carolina and branches in Columbia and Richmond Counties (Metro Augusta), Georgia. We have three branches that are Open 7 Days a Week.
Corporate Structure:
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. Main office, in second floor space on Laurens Street, was opened with deposits of $50,000.
September 1958
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.
November 1986
Name changed to Security Federal Savings Bank of South Carolina.
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 1996
Name changed to Security Federal Bank.
September 2010
Security Federal Bank certified as a Community Development Financial Institution (CDFI).
December 2010
Converted to a S.C. Commercial Bank from a Federal Thrift Charter.
Branch Expansion
December 1958
Opened new office at corner of Laurens and Richland in Aiken.
July 1973
Opened first branch on Martintown Road in North Augusta.
December 1974
Opened second branch 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
Headquarters was relocated to 1705 Whiskey Road, Aiken. This move resulted in Laurens Street becoming the fourth branch.
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.
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.
January 1997
Opened first Looney Tunes Savings In-School Bank at Aiken Elementary School.
December 2000
Opened new branch in West Columbia.
April 2003
Opened new branch in Lexington.
January 2006
Moved the Aiken WalMart branch to a new building in front of Target on Whiskey Road. New branch offers drive-thru and 7-day banking.
July 2006
Headquarters relocated to completely renovated downtown Aiken branch.
January 2007
Broke ground in Evans, Georgia for our first out of state branch.
October 2007
Opened new branch in downtown Columbia.
December 2007
Opened new branch in Evans, GA.
March 2008
Moved Clearwater branch to new location.
December 2015
Opened Ballentine Branch in Irmo, SC.
April 2017
Opened the Riverwood Branch in Evans, GA.
April 2018
Opened a new branch in Ridge Spring, SC.
September 2019
Opened the Walton Way branch in Augusta, GA.
April 2022
Opened the Spring Valley branch in Columbia, SC
April 2023
Opened the Broad Street branch in Augusta, GA
Growth of Products and Services
April 1993
Established the Financial Counseling Department. Introduced Full Service Brokerage (full service stock & bond brokerage).
July 1996
Introduced Looney Tunes Savings Program to help children through age 11 become financially responsible adults.
January 2001
Established Security Federal Investments.
February 2001
Established Website and Online Banking.
May 2001
Established Customer Service Center.
February 2002
Established Security Federal Insurance and Security Federal Trust.
July 2006
Acquired Collier Jennings, Inc., a personal lines insurance agency.
December 2008
Partnered with The Travelers Insurance Company to offer home and auto insurance in all bank branches.
September 2010
Security Federal Bank became certified as a Community Development Financial Institution providing access to capital for underserved communities.
Asset Milestone
March 1984
Over $100 million in assets.
March 1993
Over $200 million in assets.
March 2000
Over $300 million in assets.
August 2002
Over $400 million in assets.
October 2003
Over $500 million in assets.
May 2005
Over $600 million in assets.
October 2006
Over $700 million in assets.
January 2008
Over $800 million in assets.
September 2008
Over $900 million in assets.
January 2020
Over $1B in assets.
May 2020
Over $1.1B in assets
May 2022
Over $1.3B in assets
Our Leaders
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
First President is 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. Clifton Weeks was elected President.
January 1987
Tim Simmons was named President
January 2002
Tim Simmons named Chairman of Security Federal Bank. Tom Clark named President.
January 2004
Chris Verenes named President of Security Federal Bank. Roy Lindburg named to the Board of Directors.
April 2008
Frank Thomas named to Board of Directors.
January 2011
Tim Simmons named Chairman, Security Federal Corporation. Chris Verenes named Chairman of Security Federal Bank. Frank Thomas named President.
January 2012
Barry Adams named to Board of Directors.
January 2013
Richard Harmon named to Board of Directors.
June 2014
Richard Harmon named President of Security Federal Bank and Roy Lindburg named President Security Federal Bank Holding Company.
November 2018
Jessica Cummins named to Board of Directors.
August 2019
Phil Wahl named President of Security Federal Bank.
Company Information
CDFI / CRA
Dedicated to delivering responsible, affordable lending to help low-income, low-wealth, and other disadvantaged people and communities.
CDFI: In September 2010, as a result of our commitment to our community, the Bank received national recognition and certification as a Community Development Financial Institution (CDFI) by the United States Treasury Department’s (UST) CDFI Fund. CDFIs share a common goal of providing much needed credit and financial services to people and low-income communities that typically are not served by traditional financial institutions. This certification affords us access to programs that include federal and private sector capital in the form of grants, equity investments and loans.
As South Carolina’s largest certified bank CDFI, we are determined to contribute to our local community. We are 100% dedicated to delivering responsible, affordable lending to help low-income, low-wealth, and other disadvantaged people and communities join the economic mainstream. By financing community businesses- including small businesses, microenterprises, nonprofit organizations, commercial real estate, and affordable housing- we create job growth and retention in hard-to serve markets.
Our CDFI status allows us to offer tailored resources and innovative programs that invest federal dollars along with our own capital to support economically disadvantaged communities. We pride ourselves on providing social returns for our markets through products that feature flexible underwriting criteria, low interest rates and flexible terms. They are designed to meet the needs of the borrowers while balancing safety/soundness and other bank regulatory requirements. We make exceptions to policy when borrower circumstances dictate innovate approaches to meeting their needs.
CRA: Security Federal Bank is rated by the FDIC as an outstanding Community Reinvestment Act (CRA) Bank. To obtain an outstanding CRA rating, the bank must prove to the Federal financial supervisory agency that it is meeting the credit needs of its entire community. Less than 10% of banks in the country earn this distinction and we are proud to be one of them.
Community Development Impact Data
- CRA Exam Rating: Outstanding
- November 18, 2013
- April 18, 2016
- February 11, 2019
- March 30, 2022
- Financial Counseling (FC): FREE services provided since 1994 to over 20,000 customers.
- Closed over 117 million dollars in loans by our FC Team.
- 2017- 2022: on-boarded an average of 1,450 new FC clients per year to our program.
- Over 700 Emergency Savings Plans/Credit Builder Programs successfully implemented over the past four years.
- Provided 143 families with weatherization loans through our Weatherization/Energy Efficient Home Improvement Loan Program (WEEHILP) in partnership with Aiken Electric Co-Op and CSRA Economic Opportunity Authority’s (EOA) Weatherization Program.
- Mortgage Servicing provided FREE of charge to 2 local affiliates of Habitat for Humanity.
- Provided 2,641 Paycheck Protection Program (PPP) Loans to small business owners totaling $124,420,516.
- Originated 59 EQUIP Mortgage loans for a total of 6.6m since September 2022, with an average loan amount of $144,000.
Sign up to receive the Security Federal Bank newsletters
* indicates required fields
Thank you for signing up!
Someone from our office will reach out to you soon, if necessary.