Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
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[ ] Preliminary proxy statement
[ ] Confidential, for use of the Commission only (as permitted by Rule 14a-6(e)(2))
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SECURITY FEDERAL CORPORATION
(Name of registrant as specified in its charter)
(Name of person(s) filing proxy statement, if other than the registrant)
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238 Richland Avenue NW Post Office Box 810 (29802) Aiken, South
Carolina 29801
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April 30, 2020
Notice: Changing the 2020 Annual Meeting of Shareholders Format
Dear Fellow Shareholder:
As a result of the continuing public health impact of the coronavirus outbreak (COVID-19) and to protect the health and well-being of our shareholders,
directors, officers and employees, we are changing the format of the 2020 Annual Meeting of Shareholders. As previously announced, the annual meeting will be held on Thursday, May 21, 2020, at 11:00 a.m. Eastern Daylight Time. In light of
public health concerns regarding the coronavirus outbreak, the annual meeting will be held in telephonic format only and you will not be able to physically attend the meeting.
As described in the previously distributed proxy materials for the annual meeting, you are entitled to participate in the annual meeting if you were a
shareholder at the close of business on March 12, 2020, the voting record date. You may join the annual meeting by dialing toll free (877) 568
4106. When prompted, enter the access code 513-449-253#. You will only be able to listen during the meeting; therefore, we will be pleased to answer any questions you may have before or after the meeting. If you have any questions,
please call Chris Verenes, Roy Lindburg or Jessica Cummins at (803) 641-3000 or toll free at (866) 851-3000 or submit your question by email to bank@securityfederalbank.com. We have included with this letter presentation materials that will be discussed during the meeting of
shareholders.
We would also like to point out that there is an incorrect statement on the first page of the proxy statement. As correctly noted in other places in
the proxy statement and on the proxy card, four directors have been nominated for election at the meeting, each for a three-year term. No director has been nominated for a one-year term.
Thank you again for your continued support of Security Federal Corporation.
Sincerely,
/s/Timothy W. Simmons
Timothy W. Simmons
Chairman of the Board
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238 Richland Avenue NW Post Office Box 810 (29802) Aiken, South Carolina 29801
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www.securityfederalbank.com
Main 803.641.3000 Toll Free 866.851.3000
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