Security National Financial Corp. Reports Financial Results for the Second Quarter Ended June 30, 2006.

SALT LAKE CITY -- Security National Financial Corp. (SNFC) (Nasdaq: SNFCA) announced financial results for the second quarter ended June 30, 2006.

SNFC announced revenues of $34,146,000 for the three months ended June 30, 2006. This represents a 7% increase for 2006. Pre-tax earnings from operations for the three-month period in 2006 increased 27% from $703,000 in 2005 to $893,000 in 2006. Net earnings for the three-month period in 2006 increased 31% from $551,000 to $724,000.

SNFC announced revenues of $66,550,000 for the six months ended June 30, 2006. This represents a 12% increase for 2006. Pre-tax earnings from operations for the six-month period in 2006 increased 127% from $965,000 in 2005 to $2,195,000 in 2006. Net earnings for the six-month period in 2006 increased 109% from $831,000 to $1,737,000.

SNFC has three business segments. The following table shows the revenues and earnings before taxes for the three and six months ended June 30, 2006 as compared to 2005 for each of the three business segments:

For the three months ended June 30, 2006:

                     Revenues                Earnings before Taxes
           ----------------------------- -----------------------------

               2006         2005      %     2006        2005       %
           ------------ ------------ --- ----------- ----------- -----

Life
 Insurance $10,698,000  $ 9,522,000  12  $  948,000  $  698,000    36

Cemeteries/
 Mortuaries  3,452,000    3,141,000  10     233,000      68,000   243

Mortgages   19,996,000   19,181,000   4    (288,000)    (63,000) (357)
           ------------ ------------ --- ----------- ----------- -----

Total      $34,146,000  $31,844,000   7% $  893,000  $  703,000    27%
           ============ ============ === =========== =========== =====

For the six months ended June 30, 2006:

                     Revenues                Earnings before Taxes
           ----------------------------- -----------------------------

               2006         2005      %     2006        2005       %
           ------------ ------------ --- ----------- ----------- -----

Life
 Insurance $21,609,000  $19,579,000  10  $2,053,000  $1,336,000    54

Cemeteries/
 Mortuaries  6,769,000    6,334,000   7     605,000     422,000    43

Mortgages   38,172,000   33,754,000  13    (463,000)   (793,000)   42
           ------------ ------------ --- ----------- ----------- -----

Total      $66,550,000  $59,667,000  12% $2,195,000  $  965,000   127%
           ============ ============ === =========== =========== =====

Net earnings per common share were $.11 for the three months ended June 30, 2006, compared to $.09 per share for the prior year as adjusted for the effect of annual stock dividends. Net earnings per common share were $.27 for the six months ended June 30, 2006, compared to $.14 per share for the prior year as adjusted for the effect of annual stock dividends. Book value per common share was $7.41 as of June 30, 2006, compared to $7.02 as of Dec. 31, 2005. 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 6,526,663 Class A equivalent shares outstanding as of June 30, 2006.

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

Security National Financial Corp.
P.O. Box 57250
Salt Lake City, Utah 84157
Phone [phone]
Fax [phone]