Security National Financial Corporation reports a successful lending transaction for the Arrowhead Ranch project, generating nearly $4 million in profit split income.
Quiver AI Summary
Security National Financial Corporation announced the successful completion of a lending transaction that supported the development of the Arrowhead Ranch residential project in Payson, Utah, resulting in a profit-split income of nearly $4 million, along with over $3.2 million from interest and origination fees. The loan, initiated in June 2021, covers over 500 planned residential units on a 162-acre site. The company is pleased with the return on investment, which it believes exceeds other general debt offerings, and it enables the residential mortgage segment to provide long-term financing options for homebuyers. This development showcases the company's enhanced lending abilities and its commitment to working with reputable local developers, as noted by CEO Scott Quist. The profits from this transaction will be reinvested into similar opportunities to strengthen the company's asset base.
Potential Positives
- Security National Financial Corporation realized nearly $4,000,000 in profit-split income from a successful lending transaction, enhancing its financial performance.
- The company earned over $3,200,000 in interest and origination fees over the term of the loan, indicating strong revenue generation from its mortgage segment.
- This transaction positions the company's residential mortgage segment to offer long-term financing options, adding value for both developers and homebuyers.
- The success demonstrates the company's enhanced lending capabilities, which could strengthen relationships with local developers and contribute to strategic growth.
Potential Negatives
- Forward-looking statements could indicate uncertainty about the company's future performance, raising concerns about potential risks and volatility in its operations.
- The reliance on a single successful lending transaction (Arrowhead Ranch) may pose a risk, as future performance could be adversely affected if similar transactions are not executed successfully.
- The concentration on specific geographic areas (Utah and New Mexico) could expose the company to regional economic downturns, limiting diversification and increasing vulnerability.
FAQ
What is the Arrowhead Ranch residential project?
The Arrowhead Ranch project is a residential development in Payson, Utah, involving over 500 planned residential units on 162 acres.
How much profit did Security National Financial Corporation realize?
Security National reported nearly $4,000,000 in profit-split income from the lending transaction related to the Arrowhead Ranch project.
When was the loan for the Arrowhead Ranch originated?
The loan for the Arrowhead Ranch was originated in June 2021 to support the project's development.
What is Security National Financial Corporation's role in real estate development?
The company enhances lending capabilities, offering attractive loan terms that benefit homebuilders and the real estate development community.
How does Security National Financial view future investments?
The company plans to reinvest profits from successful transactions into similar attractive opportunities to strengthen its asset base.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SNFCA Insider Trading Activity
$SNFCA insiders have traded $SNFCA stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $SNFCA stock by insiders over the last 6 months:
- GILBERT A FULLER sold 460 shares for an estimated $5,621
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SNFCA Hedge Fund Activity
We have seen 22 institutional investors add shares of $SNFCA stock to their portfolio, and 31 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MILLENNIUM MANAGEMENT LLC added 143,581 shares (+117.8%) to their portfolio in Q1 2025, for an estimated $1,737,330
- LHM, INC. removed 82,490 shares (-9.6%) from their portfolio in Q1 2025, for an estimated $998,129
- SOLTIS INVESTMENT ADVISORS LLC removed 58,327 shares (-2.2%) from their portfolio in Q1 2025, for an estimated $705,756
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 45,215 shares (+19.0%) to their portfolio in Q1 2025, for an estimated $547,101
- QUBE RESEARCH & TECHNOLOGIES LTD removed 43,400 shares (-60.9%) from their portfolio in Q1 2025, for an estimated $525,140
- RENAISSANCE TECHNOLOGIES LLC removed 39,900 shares (-14.0%) from their portfolio in Q1 2025, for an estimated $482,790
- 683 CAPITAL MANAGEMENT, LLC removed 29,399 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $355,727
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
MURRAY, Utah, May 19, 2025 (GLOBE NEWSWIRE) -- Security National Financial Corporation (NASDAQ: SNFCA), announced the successful conclusion of its lending transaction which facilitated the development of the Arrowhead Ranch residential project located in Payson, Utah. As a result of this transaction Security National realized “profit-split” income of nearly $4,000,000, which was in addition to the over $3,200,000 in interest and origination fees which were earned over the term of the loan.
This acquisition and development loan was originated by the Company in June of 2021 in relation to over 500 planned residential units across various product types on a 162-acre parcel.
The Company believes that this return on investment is above that which it would realize from competing general debt offerings. In addition, this transaction placed the Company’s residential mortgage segment in a position to offer long-term financing to potential purchasers, as an added benefit to the developer and homebuyers.
This transaction demonstrates the Company’s enhanced lending capabilities, which provide increased value to homebuilders and the real estate development community. The proceeds of this profit split will be reinvested in similar transactions that the Company determines are attractive and will strengthen its asset base.
“This transaction marks another important step in the strategic growth of our lending capabilities,” said Scott Quist, Chief Executive Officer of Security National. “By working with reputable, local developers we are able to structure attractive loan terms that benefit both the Company and the developers.”
About Security National Financial Corporation
Security National Financial Corporation (NASDAQ: SNFCA) operates in three reportable business segments: life insurance, cemetery and mortuary, and mortgages. The life insurance segment is engaged in the business of selling and servicing selected lines of life insurance, annuity products, and accident and health insurance. These products are marketed in 40 states through a commissioned sales force of independent licensed insurance agents who may also sell insurance products of other companies. The cemetery and mortuary segment consists of eight mortuaries and five cemeteries in the state of Utah, one cemetery in the state of California, and one cemetery and four mortuaries in the state of New Mexico. The Company also engages in pre-need selling of funeral, cemetery, mortuary, and cremation services through its cemetery and mortuary locations. The mortgage segment originates and underwrites or otherwise purchases residential and commercial loans for new construction, existing homes, and other real estate projects. The mortgage segment operates through 100 retail offices in 23 states and is an approved mortgage lender in several other states.
Forward-Looking Statements
This press release contains forward-looking statements, including statements about future financial performance, asset strategy, and capital allocation. Actual results may differ materially due to various risks and uncertainties. For a full discussion of these risks, please refer to the company’s filings with the U.S. Securities and Exchange Commission.
For Further Information Contact: Scott M. Quist
or Garrett S. Sill
Security National Financial Corporation
P.O. Box 57250
(Telephone) (801) 264-1060
(Fax) (801) 264-8430
*Website: www.securitynational.com*
