EL CAJON, Calif., Dec. 15, 2025 (GLOBE NEWSWIRE) -- Security National Financial Corporation (SNFC) announced today the upcoming groundbreaking ceremony for the new Mountain Vistas Mausoleum, an elegant and meaningful expansion within Singing Hills Memorial Park. The project is being spearheaded by Security National’s Funeral Homes & Cemeteries division, reaffirming the company’s commitment to developing thoughtfully designed memorial spaces for families in the San Diego region. Dedicated in 1996 after nearl ...

Core Viewpoint - Security National Financial Corporation (SNFC) reported a significant decrease in after-tax earnings for the third quarter of 2025, with a 34% drop compared to the same period in 2024, highlighting challenges in the current financial landscape while noting some operational improvements and strategic management changes [1][2]. Financial Performance - For the three months ended September 30, 2025, after-tax earnings fell to $7,815,000 from $11,831,000 in 2024, marking a 34% decrease [1]. - For the nine months ended September 30, 2025, after-tax earnings decreased by 30% to $18,866,000 from $26,578,000 in 2024 [1]. - The company achieved a Return On Equity (ROE) of 7.9% for the nine months, which, if annualized, would be 10.5%, an improvement from 8.5% reported in June [1]. Business Segments Overview - The Mortgage Segment reported profitability for the quarter, marking only the third profitable quarter in the last three years, despite ongoing challenges in the mortgage market [2]. - The Cemetery and Mortuary Segment showed improved results over Q3 2024, with stabilized preneed cemetery land sales [2]. - The Life Insurance Segment experienced weak earnings primarily due to Deferred Acquisition Costs (DAC), Current Expected Credit Losses (CECL), and lower unrealized gains on common stock [2]. Revenue and Earnings Breakdown - For Q3 2025, the revenues and earnings before taxes for each segment were as follows: - Life Insurance: Revenues of $50,790,000 (up 4.0% from $48,853,000) with earnings of $7,042,000 (down 43.0% from $12,358,000) [3]. - Cemeteries/Mortuaries: Revenues of $8,928,000 (up 4.5% from $8,543,000) with earnings of $3,045,000 (up 7.2% from $2,841,000) [3]. - Mortgages: Revenues of $29,608,000 (down 4.1% from $30,878,000) with earnings of $66,000 (up 312.5% from $16,000) [3]. - For the nine months ended September 30, 2025, total revenues were $261,607,000 (up 2.5% from $255,253,000) with earnings before taxes of $24,060,000 (down 29.7% from $34,224,000) [3]. Shareholder Information - As of September 30, 2025, there were 24,697,314 Class A equivalent shares outstanding [5]. - An earnings call is scheduled for November 14, 2025, to review the third-quarter results and provide updates on the business segments [5].

Core Viewpoint - Security National Financial Corporation (SNFC) reported a decline in after-tax earnings for the second quarter and first half of 2025, attributing part of the decrease to challenges in the mortgage industry and ongoing efforts to improve sales and operational efficiency [1][2]. Financial Performance - For Q2 2025, after-tax earnings decreased by 10% to $6,506,000 from $7,271,000 in Q2 2024, while for the first half of 2025, earnings fell by 26% to $10,845,000 from $14,746,000 in the same period of 2024 [1]. - The company achieved an annualized Return On Equity (ROE) of 8% for the first half of 2025, which is below the 10-year average of 13.3% [1]. - Total revenues for Q2 2025 were $89,541,000, a 4.4% increase from $85,791,000 in Q2 2024, while total earnings before taxes decreased by 11.2% to $8,337,000 from $9,390,000 [5]. Segment Performance - **Life Insurance Segment**: Revenues increased by 9.1% to $51,525,000 in Q2 2025, with earnings before taxes rising by 14.6% to $8,214,000 [5]. - **Cemetery and Mortuary Segment**: Revenues decreased by 1.7% to $8,140,000, with earnings before taxes down by 14.2% to $1,794,000 [5]. - **Mortgage Segment**: Revenues fell by 1.3% to $29,876,000, with a loss before taxes of $1,671,000 compared to a profit of $134,000 in Q2 2024 [5]. Strategic Initiatives - The company has made significant investments in residential land holdings, totaling approximately $50 million, aiming for higher future yields despite sacrificing current income [3]. - SNFC is focused on improving sales performance across all segments, including a recent reorganization of the executive sales staff to enhance sales capabilities [4][5]. - The company anticipates that increased life insurance premium rates will contribute an additional 1.5 percentage points to ROE in the short term [1]. Market Context - The mortgage market remains challenging, with increased commission expenses impacting profitability, although the company believes it is performing comparably to industry peers [5]. - The nationwide cremation rate has surpassed 50%, influencing revenue dynamics in the Cemetery and Mortuary Segment [4].