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Business Segments
3 Months Ended
Sep. 30, 2011
Segment Reporting 
Segment Reporting Disclosure [Text Block]
8)       Business Segments


Description of Products and Services by Segment


The Company has three reportable business segments: life insurance, cemetery and mortuary, and mortgage. The Company’s life insurance segment consists of life insurance premiums and operating expenses from the sale of insurance products sold by the Company’s independent agency force and net investment income derived from investing policyholder and segment surplus funds. The Company’s cemetery and mortuary segment consists of revenues and operating expenses from the sale of at-need cemetery and mortuary merchandise and services at its mortuaries and cemeteries, pre-need sales of cemetery spaces after collection of 10% or more of the purchase price and the net investment income from investing segment surplus funds. The Company’s mortgage loan segment consists of loan originations fee income and expenses from the originations of residential and commercial mortgage loans and interest earned and interest expenses from warehousing pre-sold loans before the funds are received from financial institutional investors.


Measurement of Segment Profit or Loss and Segment Assets


The accounting policies of the reportable segments are the same as those described in the Significant Accounting Principles of the form 10K for the year ended December 31, 2010. Intersegment revenues are recorded at cost plus an agreed upon intercompany profit, and are eliminated upon consolidation.
 
Factors Management Used to Identify the Enterprise’s Reportable Segments


The Company’s reportable segments are business units that offer different products and are managed separately due to the different products and the need to report to the various regulatory jurisdictions.
 
   
Life Insurance
  
Cemetery/
Mortuary
  
Mortgage
  
Reconciling
Items
  
Consolidated
 
For the Three Months Ended
             
September 30, 2011
               
Revenues from
  external customers
 $16,680,600  $2,446,424  $22,197,663  $-  $41,324,687 
Intersegment revenues
  1,716,135   425,273   66,597   (2,208,005)  - 
Segment profit (loss)
  before income taxes
  773,361   (318,408)  379,537   -   834,490 
                      
For the Three Months Ended
                 
September 30, 2010
                    
Revenues from
  external customers
 $13,545,990  $3,031,627  $29,397,081  $-  $45,974,698 
Intersegment revenues
  2,058,203   459,026   61,085   (2,578,314)  - 
Segment profit (loss)
  before income taxes
  500,145   (343,430)  656,471   -   813,186 
                      
For the Nine Months Ended
                    
September 30, 2011
                    
Revenues from
                    
external customers
 $50,427,591  $9,203,043  $52,332,651  $-  $111,963,285 
                      
Intersegment revenues
  5,415,233   1,373,879   187,683   (6,976,795)  - 
                      
Segment profit (loss)
                    
before income taxes
  2,190,884   495,960   (3,033,758)  -   (346,914)
                      
Identifiable Assets
  484,974,971   114,386,085   28,157,555   (121,435,242)  506,083,369 
Goodwill
  391,848   285,191   -   -   677,039 
                      
For the Nine Months Ended
                    
September 30, 2010
                    
Revenues from
                    
external customers
 $42,350,030  $9,292,088  $75,348,695  $-  $126,990,813 
                      
Intersegment revenues
  6,023,605   1,284,815   179,128   (7,487,548)  - 
                      
Segment profit
                    
before income taxes
  1,996,940   (306,871)  (2,435,015)  -   (744,946)
                      
Identifiable Assets
  456,803,186   109,390,078   37,302,040   (112,088,760)  491,406,544 
Goodwill
  391,848   683,191   -   -   1,075,039