SALT LAKE CITY--(BUSINESS WIRE)--
Security National Financial Corporation announced today the retirements,
effective December 31, 2015, of Mr. J. Lynn Beckstead, Jr., President of
SecurityNational Mortgage Company, its wholly owned subsidiary, and a
director of Security National Financial, and Mr. Kenneth Parr, Chief
Financial Officer of SecurityNational Mortgage. The Company further
announced, in conjunction with these retirements, the appointments of
Mr. Stephen Johnson as President and Mr. Jacob Banks as Chief Financial
Officer of SecurityNational Mortgage, effective January 1, 2016.
Mr. Scott Quist, Chief Executive Officer of Security National Financial
and SecurityNational Mortgage said: "It is with appreciation and
congratulations that we make these announcements. Lynn Beckstead has
anticipated for a number of years serving a mission for his church once
he reached the age of 60, and the Company appreciates that he gave us
the extra period of service. He can now engage in his charitable
activities. Mr. Johnson, having been with SecurityNational Mortgage for
15 years and having served as its Chief Operating Officer since 2002, is
extraordinarily capable and prepared to step into Mr. Beckstead's shoes.
SecurityNational Mortgage anticipates no change to its momentum and
hopes to increase its growth.
"The Company also wishes to extend its appreciation and congratulations
to Ken Parr on his retirement. For several years Mr. Parr anticipated
retiring in December 2015. Mr. Jake Banks, who has been with
SecurityNational Mortgage for 10 years, is prepared to assume the
responsibilities of serving as its Chief Financial Officer.
SecurityNational Mortgage anticipates no immediate significant change in
its operations or procedures."
Mr. Quist went on to state: "Having been the Chief Executive Officer of
SecurityNational Mortgage since its formation, I have had the privilege
of working with and watching these two men develop personally and
professionally for a number of years. They can take considerable
professional pride looking back at their accomplishments and at the fine
condition of the Company at the time of their retirement."
Mr. Quist further stated: "As of June 30, 2015, SecurityNational
Mortgage was 148% ahead of 2014 on a revenue basis and 348% ahead of
2014 on a profitability basis. Those are admirable milestones on which
to retire. The Company has every confidence that legacy of performance
will continue under the care of Messrs. Johnson and Banks. That
performance is consistent with the performance of the Company's other
subsidiaries and is what the Company expects and strives for. For
example, as of June 30, 2015, first year life insurance sales on a
policy count basis at Security National Life Insurance Company are up
130%, and the Company's death care segment is having its best year from
an operations and profitability point of view since 2003."
This press release contains statements that, if not verifiable
historical fact, may be viewed as forward-looking statements that could
predict future events or outcomes with respect to Security National
Financial Corporation and its business. The predictions in these
statements will involve risk and uncertainties and, accordingly, actual
results may differ significantly from the results discussed or implied
in such forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151006005473/en/
Security National Financial Corporation
Garrett S. Sill,
801-264-1060
fax: 801-265-9882
www.securitynational.com
Source: Security National Financial Corporation
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