Security National Financial Corporation reported its financial results for the second quarter and first half of 2025, revealing a total revenue of $89.5 million for the three months ending June 30, 2025, a 4.4% increase from $85.8 million in the same period of 2024. For the six-month period, total revenues reached $172.3 million, up 3.2% from $167.0 million year-over-year. The company’s net earnings for the second quarter were $6.5 million, down from $7.3 million in the prior year, while net earnings for the first half of 2025 totaled $10.8 million, compared to $14.7 million in 2024.
The company experienced notable changes in its operational metrics. Mortgage fee income slightly decreased to $29.5 million in Q2 2025 from $29.6 million in Q2 2024, while insurance premiums rose marginally to $30.2 million from $30.0 million. Net investment income increased by 14.1% to $20.6 million, driven by higher mortgage loan interest and fixed maturity securities income. However, net mortuary and cemetery sales fell to $7.3 million from $7.8 million, primarily due to declines in pre-need sales.
In terms of strategic developments, Security National Financial Corporation has focused on enhancing its niche insurance products, particularly funeral plans, and expanding its cemetery and mortuary operations. The company operates eleven mortuaries in Utah and four in New Mexico, alongside five cemeteries in Utah and others in California and New Mexico. The company’s mortgage subsidiary, SecurityNational Mortgage, originated 3,375 loans totaling $1.13 billion in the first half of 2025, a slight decrease from 3,494 loans worth $1.09 billion in the same period of 2024.
The company’s total assets increased to $1.54 billion as of June 30, 2025, compared to $1.49 billion at the end of 2024. This growth was supported by an increase in fixed maturity securities and mortgage loans held for investment. The company’s liabilities also rose, with total liabilities reaching $1.19 billion, up from $1.15 billion at the end of 2024. The increase in liabilities was primarily due to higher future policy benefits and unpaid claims.
Looking ahead, Security National Financial Corporation anticipates continued growth in its insurance and mortgage segments, despite challenges posed by fluctuating market conditions and interest rates. The company remains committed to its strategic focus on niche products and operational efficiency, aiming to enhance profitability and shareholder value in the coming quarters.
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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