Security National Financial Corporation Reports Financial Results for the Year Ended December 31, 2009

http://www.businesswire.com/news/home/20100406007102/en

SALT LAKE CITY--(Business Wire)--
Security National Financial Corporation (SNFC) (NASDAQ: SNFCA) announced
financial results for the year ended December 31, 2009.

SNFC announced revenues of $218,595,000 for the year ending December 31, 2009.
Pre-tax earnings from operations increased 768% from $731,000 in 2008 to
$6,348,000 in 2009. Net after tax earnings for the twelve month period increased
556% from $575,000 to $3,774,000.

Scott Quist, President of SNFC, noted: The economic environment within which we
must operate continues to be very troubled. Of course we are gratified that we
have maintained our revenues and increased our profitability during these times.
This low interest rate environment continues to hamper life segment
profitability and assuming moderately rising interest rates in the near future
such increases would hamper mortgage segment profitability. We continue to see
credit losses in both the publicly traded securities and residential mortgage
sectors but hope that the worst of such losses are behind us. Such losses have
been extremely difficult to accurately anticipate and predict.

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

Revenues Earnings before Taxes
2009 2008 % 2009 2008 %
Life Insurance $ 55,129,000 $ 50,657,000 9 % $ (434,000 ) $ (1,941,000 ) -

Cemeteries/Mortuaries $ 12,837,000 $ 13,766,000 (7 %) $ (128,000 ) $ (124,000 ) (3 %)

Mortgages $ 150,629,000 $ 155,081,000 (3 %) $ 6,910,000 $ 2,796,000 147 %

Total $ 218,595,000 $ 219,504,000 (0.4 %) $ 6,348,000 $ 731,000 768 %

Net earnings per common share were $.46 for the twelve months ended December 31,
2009, compared to $.07 per share for the prior year as adjusted for the effect
of annual stock dividends. Book value per common share was $7.30 as of December
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 8,196,674 Class A equivalent shares outstanding as of
December 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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