X0303 4/A 2008-09-24 2008-09-25 0 0000818677 SECURITY FEDERAL CORP SFDL 0001392427 HURT MARGARET A P.O.BOX 810 AIKEN SC 29802 0 1 0 0 Controller Common Stock, $0.01 par value 2008-09-24 4 M 0 300 16.67 A 2816 D Stock Option 16.67 2008-09-24 4 M 0 300 0 D 2006-03-16 2009-09-30 Common Stock 300 2300 D Reason for Amendment: The Form 4 filed on September 25, 2008 included an incorrect number of derivative securities beneficially owned following the reported transaction (i.e., Box 9 of Table II). This amendment is being filed to correct this number. The Form 4 that was originally filed on September 25, 2008 has been restated in its entirety. Includes 247 sharese held by Employee Stock Purchase Plan. These options were granted under the Issuer's 1999 Stock Option Plan. All options became exercisable on March 16, 2006. /s/Beverly S. Bradham Attorney-In-Fact 2008-10-02