ROY G. LINDBURG - Corporate Board Profile

SECURITY FEDERAL CORP

Filing Date	Source Excerpt
2005-06-17	Roy G. Lindburg is Treasurer, Chief Financial Officer and Director of the Company and the Bank, age 44. He serves on the Executive Committee but does not receive a fee for service on this Committee. The Company does not compensate directors for service on the Board or committees, but Bank directors receive fees. No specific total annual compensation stated for him.
2006-06-16	Roy G. Lindburg has been Treasurer and Chief Financial Officer of the Company and the Bank since January 1995. The Company does not compensate the members of its Board of Directors for service on the Board or committees. The directors of the Bank receive fees of $1,500 per month. Members of the Executive Committee receive $1,500 per month for membership on this Committee, with the exception of Messrs. Simmons, Verenes and Lindburg, who do not receive a fee for service on this Committee. During the fiscal year ended March 31, 2006, Mr. Lindburg's salary was $138,000, and he earned director's fees of $16,497. In addition, he was credited with $25,567 in other compensation (comprised of ESOP contribution of $1,919, employer 401(k) contribution of $4,151, deferred compensation pursuant to the Company's 401(k) plan of $11,070 and employer payment of insurance premiums totaling $8,427) as set forth in the preceding Summary Compensation Table. This resulted in total compensation of $179,064.
2007-06-21	Roy G. Lindburg has been Treasurer and Chief Financial Officer of Security Federal and Security Federal Bank since January 1995. He has been an Executive Vice President since January 2005.
2009-06-22	Roy G. Lindburg has been Chief Financial Officer of Security Federal and the Bank since January 1995. He has been an Executive Vice President since January 2005.
2010-06-29	Roy G. Lindburg is a Certified Public Accountant and has been Chief Financial Officer of Security Federal and the Bank since January 1995. He has been an Executive Vice President since January 2005. Mr. Lindburg serves on the Business Advisory Council for the University of South Carolina Aiken School of Business Administration. Mr. Lindburg provides the Board of Directors with financial expertise.
2011-06-22	Roy G. Lindburg is a Certified Public Accountant and has been Chief Financial Officer of Security Federal and the Bank since January 1995. He has been an Executive Vice President since January 2005. Mr. Lindburg serves on the Business Advisory Council for the University of South Carolina Aiken School of Business Administration. Mr. Lindburg provides the Board of Directors with financial expertise. The Bank’s Board of Directors has standing Executive, Audit, Compensation, Loan and Review Committees. The Loan Committee is composed of Directors Verenes (Chairman), T. C. Weeks, Toole, Alexander, Simmons, H.O. Weeks, Jr. and Lindburg. The Loan Committee is responsible for and oversees the Bank’s loan activities. All actions of this Committee are reviewed and ratified by the entire Board. This Committee met 49 times during the fiscal year ended March 31, 2011. The Trust Committee consists of Directors Toole (Chairman), T.C. Weeks, Alexander, Simmons, Verenes, Lindburg and Thomas. This Committee reviews and approves activities of Security Federal Trust, a division of the Bank. This Committee met 18 times during the fiscal year ended March 31, 2011. The Investment Committee consists of Directors Toole (Chairman), T.C. Weeks, Alexander, Simmons, Verenes, Lindburg and Thomas. This Committee reviews and approves activities of Security Federal Investments, a division of the Bank. This Committee met 12 times during the fiscal year ended March 31, 2011.
2012-06-22	Roy G. Lindburg is a Certified Public Accountant and has been Chief Financial Officer of Security Federal and the Bank since January 1995. Mr. Lindburg serves on the Business Advisory Council for the University of South Carolina Aiken School of Business Administration. The Executive Committee of the Bank is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks, Simmons, Lindburg and Thomas. The Loan Committee is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks Simmons, Lindburg and Thomas. The Trust Committee consists of Directors Toole (Chairman), Verenes, Alexander, Weeks, Simmons, Thomas and Adams. The Investment Committee consists of Directors Toole (Chairman), Verenes, Alexander, Simmons, Weeks, Thomas and Adams. Compensation for Roy G. Lindburg for fiscal year ended March 31, 2012 was $210,132.
2015-03-23	Roy G. Lindburg has served as President of Security Federal since June 6, 2014. Mr. Lindburg is a Certified Public Accountant and served as Chief Financial Officer of Security Federal and the Bank from January 1995 until June 2014. The Executive Committee, comprised of Directors Simmons (Chairman), Toole, Alexander, Weeks, Verenes Lindburg, Harmon and Thomas. The Proxy Committee, which is composed of Directors Simmons (Chairman), Toole, Alexander, Weeks, Moore and Clyburn. Compensation for Roy G. Lindburg, who is a named executive officer, for the year ended December 31, 2014 was $260,124.
2017-03-20	Roy G. Lindburg has served as President of Security Federal since June 6, 2014. Mr. Lindburg is a Certified Public Accountant and served as Chief Financial Officer of Security Federal and the Bank from January 1995 until June 2014. Mr. Lindburg serves on the Business Advisory Council for the University of South Carolina Aiken School of Business Administration. He also serves on the South Carolina Tennis Association Board. Mr. Lindburg provides the Board of Directors with financial expertise. The Executive Committee is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks, Simmons, Lindburg, Harmon and Thomas... The Loan Committee is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks Simmons, Lindburg and Thomas... The Compensation Committee makes recommendations to the Board regarding the amount of the Bank's annual contribution to certain benefit plans and salaries for the Bank's officers and employees. This Committee also determines certain minor administrative matters related to certain employee plans. The Compensation Committee is comprised of Directors Simmons (Chairman), Toole, Alexander and Weeks.
2018-03-28	Roy G. Lindburg has served as President of Security Federal since June 6, 2014. The Executive Committee is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks, Simmons, Lindburg, Harmon and Thomas. The Loan Committee is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks Simmons, Lindburg and Thomas. The Compensation Committee is comprised of Directors Simmons (Chairman), Toole, Alexander and Weeks. Compensation for Roy G. Lindburg is included in the Executive Compensation section. Total compensation for 2017 was $319,169.
2021-03-29	Roy G. Lindburg has served as President of Security Federal since June 6, 2014. Mr. Lindburg is a Certified Public Accountant and served as Chief Financial Officer of Security Federal and the Bank from January 1995 until June 2014. He has over 37 years of experience in the banking industry. Mr. Lindburg serves on the Business Advisory Council for the University of South Carolina Aiken School of Business Administration. He also serves on the Salvation Army Advisory Board and is on the Audit Committee of the United States Tennis Association South Carolina. Mr. Lindburg provides the Board of Directors with financial expertise. The Executive Committee, comprised of Directors Simmons (Chairman), Toole, Alexander, Weeks, Verenes Lindburg, Harmon, Thomas, Cummins, Clyburn and Moore, meets on an as needed basis to handle matters arising between Board meetings. This Committee did not meet during the year ended December 31, 2020. The Audit Committee, comprised of Directors Moore (Chairman), Clyburn, Alexander, Simmons, Thomas, Toole, Harmon and Cummins assists the Board in fulfilling its oversight responsibilities. The Board of Directors has determined that there is no “audit committee financial expert,” as defined by the SEC; however, the Board believes that the current members of the Audit Committee are qualified to serve based on their collective experience and background. Directors Moore, Clyburn, Alexander, Thomas and Toole are “independent,” pursuant to the rules of The Nasdaq Stock Market LLC (“Nasdaq”) governing audit committee membership. Director Simmons is not independent for purposes of audit committee membership and Directors Harmon and Cummins are not independent directors. Although Security Federal’s common stock is not listed on Nasdaq, it has chosen to apply Nasdaq’s definition of independence, as permitted by the SEC. This Committee met four times during the year ended December 31, 2020. The Trust Committee consists of Directors Verenes (Chairman), Alexander, Simmons, Thomas, Moore, Clyburn, Toole, Harmon, Lindburg and Cummins. This Committee met 23 times during the year ended December 31, 2020. The Investment Committee consists of Directors Verenes (Chairman), Alexander, Simmons, Thomas, Moore, Clyburn, Toole, Harmon, Lindburg and Cummins. This Committee met 11 times during the year ended December 31, 2020. Compensation for Roy G. Lindburg for the year ended December 31, 2020 was $371,523.
2024-04-08	Roy G. Lindburg has served as President of Security Federal since June 6, 2014. Mr. Lindburg is a Certified Public Accountant and served as Chief Financial Officer of Security Federal and the Bank from January 1995 until June 2014. Security Federal’s Bank Board of Directors Executive Committee is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks Simmons, Lindburg, Moore, Clyburn, Harmon, Thomas and Cummins. The Loan Committee is composed of Directors Verenes (Chairman), Toole, Alexander, Weeks Simmons, Lindburg, Thomas, Moore, Clyburn, Harmon and Cummins. The Trust Committee consists of Directors Verenes (Chairman), Alexander, Simmons, Thomas, Moore, Clyburn, Toole, Harmon, Lindburg and Cummins. The Investment Committee consists of Directors Verenes (Chairman), Alexander, Simmons, Thomas, Moore, Clyburn, Toole, Harmon, Lindburg and Cummins. The following table shows the compensation paid to our directors for the year ended December 31, 2023, except for those who are our named executive officers. Compensation for Directors J. Chris Verenes and Roy G. Lindburg is included in the section below entitled “Executive Compensation.” Roy G. Lindburg: $315,000 salary, $41,890 other compensation, total $432,249.