Security National Profit Falls 38.6% on Mortgage Loss
The Salt Lake City insurer and mortgage lender reported third-quarter 2026 after-tax earnings of $6.2 million.
Updated on Nov. 10, 2026 in Corporate Finance
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Security National Financial Corporation reported after-tax earnings of $6.2 million for the third quarter of 2026, down 38.6% year over year. Total revenues fell 10.5% to $79.9 million, while stockholders' equity rose to $469 million.
Why it matters
The company attributed its earnings pressure primarily to rising interest rates and a deteriorating mortgage market, with its mortgage segment swinging to a $2.6 million loss. Strong first-year life insurance sales offered a partial counterbalance.
Pre-tax earnings fell 37.2% to $8.2 million, and the cemetery and mortuary segment's pre-tax earnings declined 16.9% to $2.5 million. Book value per share reached $17.98 at September 30, 2026, up from $15.75 at December 31, 2025.
The players
Security National Financial Corporation
A Salt Lake City-based life insurer and mortgage lender listed on NASDAQ that operates life insurance, mortgage and cemetery segments.
The details
Stockholders' equity rose roughly $36 million through a downward revaluation of life reserves that flows through Other Comprehensive Income rather than the earnings statement. First-year life insurance sales rose more than 20% by annualized premium and 27% by face amount year to date, which the company credited to new sales management after a near-complete leadership overhaul.
Timeline
September 30, 2026: End of the three-month period covered by the reported Q3 2026 results.
November 9, 2026: Company issued its earnings release.
November 12, 2026: Scheduled company earnings call.
Market Dynamics
The mortgage segment's swing to a loss tracks a September 2026 drop in U.S. pending home sales of 7.3% month over month, with Utah pending sales falling 27% year over year. Security National's results therefore reflect a housing-finance slowdown that is affecting its Utah-based mortgage operations directly.
Investors holding Security National shares now see book value per share of $17.98, but near-term earnings have weakened as mortgage losses widened. Those tracking the stock may want to review the company's commentary on the credit loss provision during the November 12 earnings call.
The takeaway
Security National's third-quarter results show that life insurance sales growth can offset some pressure, but a housing slowdown has turned its mortgage business into a drag on earnings.
What happens next
The company scheduled an earnings call for November 12, 2026, where management is expected to address the quarterly results.
Further reading
Explore more Corporate Finance coverage for context on how company earnings are reported in Salt Lake City.
Source note: This article includes information reported by Insurance Business.
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