T. CLIFTON WEEKS - Corporate Board Profile

SECURITY FEDERAL CORP

Filing Date	Source Excerpt
2001-06-18	T. Clifton Weeks has been Chairman of the Board of the Company since 1987 and was Chief Executive Officer of the Company from 1987 until June 1994. Mr. Weeks has served as Chairman of the Board of the Bank since January 1987 and was Chief Executive Officer from 1987 until May 1988. 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 $833.33 per month. Members of the Executive Committee receive $810 per month for membership on this Committee, with the exception of Mr. Simmons, who does not receive a fee for membership on this Committee. Members of the Audit Committee receive $117 per meeting attended. No fee is paid for membership on the Bank's Compensation Committee.
2002-06-19	T. Clifton Weeks has been Chairman of the Board of the Company since July 1987 and was Chief Executive Officer of the Company from July 1987 until June 1994. Mr. Weeks served as Chairman of the Board of the Bank from January 1987 until January 2002 and was Chief Executive Officer of the Bank from 1987 until May 1988. Prior thereto he served as President and Managing Officer of the Bank beginning in 1958. The Executive Committee, comprised of Director T. Clifton Weeks as Chairman and Directors Toole, Alexander, Simmons and Clark, meets on an as needed basis to handle matters arising between Board meetings. This Committee did not meet during fiscal 2002. The Compensation Committee, which also serves as the Stock Option Committee, is comprised of Director T. Clifton Weeks as Chairman and Directors Toole and Alexander. This Committee meets on an as needed basis and makes recommendations to the Board regarding annual contributions to certain benefit plans and salaries for officers and employees. This Committee also determines certain minor administrative matters related to certain employee plans. This Committee met one time during fiscal 2002. The Loan Committee of the Board of Directors of the Bank is composed of T. Clifton Weeks as Chairman and Directors Toole, Alexander, Simmons and Clark. 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 25 times during fiscal 2002. 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 $860 per month. Members of the Executive Committee receive $835 per month for membership on this Committee, with the exception of Messrs. Simmons and Clark, who do not receive a fee for membership on this Committee. Members of the Audit Committee receive $121 per meeting attended. No fee is paid for membership on the Bank's Compensation or Loan Committees.
2003-06-24	T. Clifton Weeks has been Chairman of the Board of the Company since July 1987 and was Chief Executive Officer of the Company from July 1987 until June 1994. Mr. Weeks served as Chairman of the Board of the Bank from January 1987 until January 2002 and was Chief Executive Officer of the Bank from 1987 until May 1988. Prior thereto, he served as President and Managing Officer of the Bank beginning in 1958. 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 $1,000 per month. Members of the Executive Committee receive $1,000 per month for membership on this Committee, with the exception of Messrs. Simmons and Clark, who do not receive a fee for service on this Committee. Members of the Audit Committee receive $400 per meeting attended. No fee is paid for service on the Bank's Compensation or Loan Committees.
2004-06-18	T. Clifton Weeks has been Chairman of the Board of the Company since July 1987 and was Chief Executive Officer of the Company from July 1987 until June 1994. Mr. Weeks served as Chairman of the Board of the Bank from January 1987 until January 2002 and was Chief Executive Officer of the Bank from 1987 until May 1988.
2005-06-17	T. Clifton Weeks is Chairman of the Board of the Company and Director of the Bank, age 78. He serves as Chairman of the Executive Committee, Compensation Committee, and Nominating Committee, and is a member of the Loan Committee and Review 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	T. Clifton Weeks has been Chairman of the Board of the Company since July 1987 and was Chief Executive Officer of the Company from July 1987 until June 1994. Mr. Weeks served as Chairman of the Board of the Bank from January 1987 until January 2002 and was Chief Executive Officer of the Bank from 1987 until May 1988. Prior thereto, he served as President and Managing Officer of the Bank beginning in 1958. 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. The Compensation Committee, which also serves as the Stock Option Committee, is comprised of Director T. Clifton Weeks as Chairman and Directors Toole and Alexander. This Committee meets on an as needed basis and makes recommendations to the Board regarding annual contributions to certain benefit plans and salaries for officers and employees. This Committee also determines certain minor administrative matters related to certain employee plans. This Committee met twice during fiscal 2006. The Nominating Committee, consisting of Director T. Clifton Weeks as Chairman and Directors Toole and Alexander, was formed to assure that the Company maintains the highest standards and best practices in all critical areas relating to the management of the business of the Company. The Committee also selects nominees for the election of directors and develops a list of nominees for board vacancies. The Nominating Committee has a charter which specifies its obligations. Although the Charter is not available on the Company's website, a copy of the Charter was attached as Appendix A to the annual meeting proxy statement dated June 18, 2004. Each member of the Committee is "independent," in accordance with the requirements for companies quoted on The Nasdaq Stock Market, with the exception of Mr. Weeks. The Executive Committee, comprised of Director T. Clifton Weeks as Chairman and Directors Toole, Alexander, Simmons, Verenes and Lindburg meets on an as needed basis to handle matters arising between Board meetings. This Committee did not met during fiscal 2006. The Loan Committee of the Board of Directors of the Bank is composed of T. Clifton Weeks as Chairman and Directors Toole, Alexander, Simmons and Verenes. 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 48 times during fiscal 2006. The Review Committee, comprised of Director Harry O. Weeks, Jr. as Chairman and Directors T. Clifton Weeks and Toole, was formed August 24, 2004. This Committee meets quarterly to review trust accounts originated by the Bank's trust subsidiary for compliance with applicable law, regulations and the governing instruments for such trust accounts. The Committee met four times during fiscal 2006. The Compensation Committee of the Bank 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. This Committee is comprised of Director T. Clifton Weeks as Chairman and Directors Toole and Alexander. This Committee met three times during fiscal 2006.
2007-06-21	T. Clifton Weeks has been Chairman of the Board of Security Federal since July 1987 and was Chief Executive Officer from July 1987 until June 1994. Mr. Weeks served as Chairman of the Board of Security Federal Bank from January 1987 until January 2002 and was Chief Executive Officer from 1987 until May 1988. Prior thereto, he served as President and Managing Officer of the Bank beginning in 1958.
2009-06-22	T. Clifton Weeks has been Chairman of the Board of Security Federal since July 1987 and was Chief Executive Officer from July 1987 until June 1994. Mr. Weeks served as Chairman of the Board of the Bank from January 1987 until January 2002 and was Chief Executive Officer from 1987 until May 1988. Prior thereto, he served as President and Managing Officer of the Bank beginning in 1958.
2010-06-29	T. Clifton Weeks has been Chairman of the Board of Security Federal since July 1987 and was Chief Executive Officer from July 1987 until June 1994. Mr. Weeks served as Chairman of the Board of the Bank from January 1987 until January 2002 and was Chief Executive Officer from 1987 until May 1988. Prior thereto, he served as President and Managing Officer of the Bank beginning in 1958. Mr. Weeks9 extensive career has afforded him expertise in all areas of banking.
2011-06-22	T. Clifton Weeks has been Chairman of the Board of Security Federal since July 1987 and was Chief Executive Officer from July 1987 until June 1994. Mr. Weeks served as Chairman of the Board of the Bank from January 1987 until January 2002 and was Chief Executive Officer from 1987 until May 1988. Prior thereto, he served as President and Managing Officer of the Bank beginning in 1958. Mr. Weeks’ extensive career has afforded him expertise in all areas of banking. The Executive Committee, comprised of Directors T.C. Weeks (Chairman), Toole, Alexander, Simmons, H.O. Weeks, Jr., Verenes and Thomas meets on an as needed basis to handle matters arising between Board meetings. This Committee met twice during the fiscal year ended March 31, 2011. The Compensation Committee, which also serves as the Stock Option Committee, is comprised of Directors T.C. Weeks (Chairman), Toole, Alexander and H.O. Weeks, Jr. This Committee meets on an as needed basis and makes recommendations to the Board regarding annual contributions to certain benefit plans and salaries for officers and employees. This Committee also determines certain minor administrative matters related to certain employee benefit plans. Each member of the Committee is “independent,” as defined by Nasdaq, with the exception of Mr. T.C. Weeks. This Committee met three times during the fiscal year ended March 31, 2011.