Security National Financial Corporation Reports Financial Results for the First Quarter Ended March 31, 2009

SALT LAKE CITY--(Business Wire)--
Security National Financial Corporation (SNFC) (Nasdaq: SNFCA) announced
financial results for the first quarter ended March 31, 2009.

SNFC announced revenues of $59,492,000 for the three months ended March 31,
2009. This represents a 12% increase over 2008. Pre-tax earnings from operations
for the three-month period increased 154% from $1,945,000 in 2008 to $4,940,000.
After tax earnings increased 135% from $1,375,000 in 2008 to $3,233,000.
Regarding the earnings increase, Scott Quist, President of the Company, said,
"We are, of course, pleased with these results, especially given the troubled
nature of our economy. Our mortgage results were significantly helped by the
lower interest rates and refinances, but our life operations are adversely
impacted by those same lower rates. Nevertheless, this represents a very good
quarter, if not, in fact, our best quarter."

SNFC has three business segments. The following table shows the revenues and
earnings before taxes for the three months ended March 31, 2009 as compared to
2008 for each of the three business segments:

For the three months ended March 31, 2009:

Revenues Earnings (Losses) before Taxes
2009 2008 % 2009 2008 %
Life Insurance $ 13,958,000 $ 12,830,000 9 % $ (312,000 ) $ 415,000 (175 )%
Cemeteries/Mortuaries 3,181,000 3,868,000 (18 )% 246,000 380,000 (35 )%
Mortgages 42,353,000 36,524,000 16 % 5,006,000 1,150,000 335 %
Total $ 59,492,000 $ 53,222,000 12 % $ 4,940,000 $ 1,945,000 154 %

Net earnings per common share were $.42 for the three months ended March 31,
2009, compared to $.17 per share for the prior year as adjusted for the effect
of annual stock dividends. Book value per common share was $7.69 as of March 31,
2009, compared to $7.12 as of December 31, 2008. The Company has two classes of
common stock outstanding, Class A and Class C. The Class C shares share in
distribution of earnings and capital on a 10-for-1 basis with the Class A
shares; therefore, for earnings per share and book value per share calculations,
the Class C shares are converted to Class A shares on a 10-for-1 basis. There
were 7,650,401 Class A equivalent shares outstanding as of March 31, 2009.

If there are any questions, please contact Mr. Scott M. Quist or Mr. Stephen M.
Sill at:

Security National Financial Corporation
P.O. Box 57250
Salt Lake City, Utah 84157
Phone (801) 264-1060
Fax (801) 265-9882

Security National Financial Corporation
Scott M. Quist or Stephen M. Sill
801-264-1060
Fax: 801-265-9882

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