October 6, 2015

Security National Financial Corporation Announces Retirement of Senior Officers at SecurityNational Mortgage Company and Appointment of New Senior Officers

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.

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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