Security National Financial Corporation Reports Financial Results for the Second Quarter Ended June 30, 2009

SALT LAKE CITY--(Business Wire)--
Security National Financial Corporation (SNFC) (Nasdaq: SNFCA) announced
financial results for the second quarter ended June 30, 2009.

SNFC announced revenues of $58,010,000 for the three months ended June 30, 2009.
This represents a 4% decrease from 2008. Pre-tax earnings from operations for
the three-month period increased 45% from $3,087,000 in 2008 to $4,484,000.
After tax earnings increased 47% from $2,101,000 in 2008 to $3,090,000.

SNFC announced revenues of $117,502,000 for the six months ended June 30, 2009.
This represents a 3% increase over 2008. Pre-tax earnings from operations for
the six-month period increased 87% from $5,032,000 in 2008 to $9,424,000. After
tax earnings increased 82% from $3,476,000 in 2008 to $6,323,000. Scott Quist,
President of the Company, said, "We are of course pleased that our revenues have
held and that we have been able to considerably increase profitability during
these challenging economic times. The low interest rate environment continues to
hurt our life operations while at the same time benefiting our mortgage
operations. Improving the credit quality of both our mortgage loans and other
investments continues to be a primary focus.

"While we are pleased with the results thus far we are certainly not immune to
the difficult economic environment that currently surrounds Security National
and almost every other company in the United States. Nevertheless, we remain
cautiously optimistic."

SNFC has three business segments. The following table shows the revenues and
earnings before taxes for the three months and six months ended June 30, 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 $ 13,219,000 $ 13,115,000 1 % $ 364,000 $ 547,000 (33 )%

Cemeteries/Mortuaries 3,803,000 3,725,000 2 % 151,000 (15,000 ) (- )%

Mortgages 40,988,000 43,562,000 (6 )% 3,969,000 2,555,000 55 %
Total $ 58,010,000 $ 60,402,000 (4 )% $ 4,484,000 $ 3,087,000 45 %

For the six months ended June 30, 2009:

Revenues Earnings (Losses) before Taxes
2009 2008 % 2009 2008 %
Life Insurance $ 27,177,000 $ 25,945,000 5 % $ 51,000 $ 962,000 (95 )%

Cemeteries/Mortuaries 6,984,000 7,593,000 (8 )% 397,000 364,000 9 %

Mortgages 83,341,000 80,086,000 4 % 8,976,000 3,706,000 142 %
Total $ 117,502,000 $ 113,624,000 3 % $ 9,424,000 $ 5,032,000 87 %

Net earnings per common share were $.40 for the three months ended June 30,
2009, compared to $.26 per share for the prior year as adjusted for the effect
of annual stock dividends. Net earnings per common share were $.82 for the six
months ended June 30, 2009, compared to $.43 per share for the prior year as
adjusted for the effect of annual stock dividends. Book value per common share
was $8.02 as of June 30, 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 7,720,053 Class A equivalent shares outstanding as of
June 30, 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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