Security National Financial Corporation (SNFC) reported a total revenue of $344.6 million for the fiscal year ending December 31, 2025, marking a 3% increase from $334.5 million in 2024. The company's net earnings rose to $32.2 million, or $1.30 per Class A equivalent share, compared to $29.1 million, or $1.19 per share, in the previous year. This growth in profitability was primarily driven by a significant increase in net investment income, which rose by 10.6% to $79.3 million, alongside gains on investments and other assets that surged by 138.8% to $4.6 million.
In terms of operational performance, the life insurance segment generated $119.8 million in premiums, a slight increase from $119.7 million in 2024. However, the cemetery and mortuary segment experienced a decline in revenues, with total sales decreasing to $28.7 million from $29.0 million, attributed to a drop in pre-need sales. The mortgage segment maintained its revenue at approximately $108.2 million, reflecting a stable performance despite challenging market conditions. The company’s total assets increased to $1.56 billion, up from $1.49 billion in the prior year, driven by growth in investments and mortgage loans held for investment.
Strategically, SNFC has continued to pursue growth through acquisitions and development projects. The company has expanded its mortgage operations and is actively developing commercial and residential assets, including the Center53 Development in Salt Lake City, which is expected to create nearly one million square feet of office space. The company also reported a total employee headcount of 1,035 full-time and 208 part-time employees as of December 31, 2025, reflecting a stable workforce across its three business segments: life insurance, cemetery and mortuary, and mortgages.
The company’s financial health is supported by a robust capital structure, with stockholders' equity increasing to $410.4 million, representing 80.7% of total capitalization. However, SNFC noted that its mortgage subsidiary, SecurityNational Mortgage, was not in compliance with certain net income covenants related to its warehouse lines of credit as of December 31, 2025, but has since received waivers from its lenders. The company anticipates continued challenges in the mortgage market due to fluctuating interest rates and economic conditions, which may impact future loan originations.
Looking ahead, SNFC remains focused on its strategic initiatives to enhance its market position and profitability. The company plans to continue leveraging its diversified business model, which integrates its life insurance, cemetery and mortuary, and mortgage segments, to capitalize on growth opportunities. Management expressed confidence in the company’s ability to navigate market challenges and achieve sustainable growth in the coming years.
About SECURITY NATIONAL FINANCIAL CORP
Security National Financial Corporation operates in life insurance, cemetery and mortuary services, and mortgage lending. It offers funeral and life insurance products, manages cemeteries and funeral homes, and originates residential and commercial real estate loans. Serving primarily U.S. markets, the company emphasizes niche insurance, integrated death care services, and real estate development, leveraging diversified investments and strategic acquisitions to sustain its business model.
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