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Item 1. BusinessSecurity Federal Corporation- ----------------------------Security Federal Corporation (the "Company") was incorporated under thelaws of the State of Delaware in July 1987 for the purpose of becoming thesavings and loan holding company for Security Federal Bank ("SecurityFederal" or the "Bank") upon the Bank's conversion from mutual to the stockform (the "Conversion"). Effective August 17, 1998, the Company changed itsstate of incorporation from Delaware to South Carolina.As ...