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Business Segments
 12 Months Ended
Dec. 31, 2011
Segment Reporting  
Segment Reporting Disclosure [Text Block]
14)        Business Segment Information


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. 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.
 
   
2011
 
   
Life
  
Cemetery/
     
Reconciling
    
   
Insurance
  
Mortuary
  
Mortgage
  
Items
  
Consolidated
 
Revenues:
               
From external sources:
               
Revenue from customers
 $48,479,519  $10,761,469  $77,605,105  $-  $136,846,093 
Net investment income
  17,295,982   159,186   2,555,536   -   20,010,704 
Realized gains (losses) on
                    
investments and other assets
  1,596,127   868,226   -   -   2,464,353 
Other than temporary impairments
  (840,735)  -   -   -   (840,735)
Other revenues
  712,400   147,830   248,739   -   1,108,969 
Intersegment revenues:
                    
Net investment income
  5,832,691   1,691,197   258,062   (7,781,950)  - 
Total revenues
  73,075,984   13,627,908   80,667,442   (7,781,950)  159,589,384 
Expenses:
                    
Death and other policy benefits
  23,945,720   -   -   -   23,945,720 
Increase in future policy benefits
  20,540,375   -   -   -   20,540,375 
Amortization of deferred policy
    and preneed acquisition costs and
                    
value of business acquired
  7,135,996   373,332   -   -   7,509,328 
Depreciation
  479,634   520,015   499,389   -   1,499,038 
General, administrative and
                    
other costs:
                    
Intersegment
  24,000   103,494   130,011   (257,505)  - 
Provision for loan losses
  -   -   2,070,399   -   2,070,399 
Costs related to funding mortgage
                    
  loans
  -   -   4,240,377   -   4,240,377 
Other
  17,472,713   9,827,197   69,286,435   -   96,586,345 
Interest expense:
                    
Intersegment
  668,047   1,905,559   4,950,839   (7,524,445)  - 
Other
  111,221   437,736   1,412,292   -   1,961,249 
Total benefits and expenses
  70,377,706   13,167,333   82,589,742   (7,781,950)  158,352,831 
Earnings (losses) before income taxes
 $2,698,278  $460,575  $(1,922,300) $-  $1,236,553 
Income tax (expense) benefit
  (734,626)  -   796,831   -   62,205 
Net earnings (losses)
 $1,963,652  $460,575  $(1,125,469) $-  $1,298,758 
                      
Identifiable assets
 $502,833,224  $116,453,434  $27,913,480  $(126,061,216) $521,138,922 
                      
Goodwill
 $391,848  $285,191  $-  $-  $677,039 
                      
Expenditures for long-lived assets
 $136,742  $255,116  $373,775  $-  $765,633 
   
   
   
2010
 
   
Life
  
Cemetery/
     
Reconciling
    
   
Insurance
  
Mortuary
  
Mortgage
  
Items
  
Consolidated
 
Revenues:
               
From external sources:
               
Revenue from customers
 $38,528,437  $11,520,369  $97,342,215  $-  $147,391,021 
Net investment income
  14,738,200   63,574   3,814,210   -   18,615,984 
Realized gains (losses) on
                    
investments and other assets
  1,642,174   (26,756)  -   -   1,615,418 
Other than temporary impairments
  (673,981)  -   -   -   (673,981)
Other revenues
  1,039,016   256,862   285,237   -   1,581,115 
Intersegment revenues:
                    
Net investment income
  6,817,008   1,678,096   244,578   (8,739,682)  - 
Total revenues
  62,090,854   13,492,145   101,686,240   (8,739,682)  168,529,557 
Expenses:
                    
Death and other policy benefits
  20,925,988   -   -   -   20,925,988 
Increase in future policy benefits
  15,525,542   -   -   -   15,525,542 
Amortization of deferred policy
    and preneed acquisition costs and
                    
value of business acquired
  5,572,297   372,562   -   -   5,944,859 
Depreciation
  559,999   631,281   620,652   -   1,811,932 
General, administrative and
                    
other costs:
                    
Intersegment
  24,000   109,128   185,147   (318,275)  - 
Provision for loan losses
  -   -   5,404,645   -   5,404,645 
Costs related to funding mortgage
                    
  loans
  -   -   6,044,020   -   6,044,020 
Other
  16,756,255   11,097,302   83,329,514   -   111,183,071 
Interest expense:
                    
Intersegment
  686,384   1,792,479   5,942,544   (8,421,407)  - 
Other
  179,891   475,372   2,123,657   -   2,778,920 
Total benefits and expenses
  60,230,356   14,478,124   103,650,179   (8,739,682)  169,618,977 
Earnings (losses) before income taxes
 $1,860,498  $(985,979) $(1,963,939) $-  $(1,089,420)
Income tax (expense) benefit
  (97,410)  -   756,206   -   658,796 
Net earnings (losses)
 $1,763,088  $(985,979) $(1,207,733) $-  $(430,624)
                      
Identifiable assets
 $440,374,068  $111,798,118  $30,323,496  $(116,860,777) $465,634,905 
                      
Goodwill
 $391,848  $683,191  $-  $-  $1,075,039 
                      
Expenditures for long-lived assets
 $220,417  $275,904  $363,667  $-  $859,988 
 

 
   
2009
 
   
Life
  
Cemetery/
     
Reconciling
    
   
Insurance
  
Mortuary
  
Mortgage
  
Items
  
Consolidated
 
Revenues:
               
From external sources:
               
Revenue from customers
 $38,413,329  $11,973,676  $144,274,227  $-  $194,661,232 
Net investment income
  15,869,380   72,833   3,972,859   -   19,915,072 
Realized gains on
                    
investments and other assets
  1,223,312   -   -   -   1,223,312 
Other than temporary impairments
  (326,000)  -   -   -   (326,000)
Other revenues
  778,107   174,357   462,216   -   1,414,680 
Intersegment revenues:
                    
Net investment income
  5,040,934   1,092,056   216,110   (6,349,100)  - 
Total revenues
  60,999,062   13,312,922   148,925,412   (6,349,100)  216,888,296 
Expenses:
                    
Death and other policy benefits
  20,681,268   -   -   -   20,681,268 
Increase in future policy benefits
  15,238,380   -   -   -   15,238,380 
Amortization of deferred policy
    and preneed acquisition costs and
                    
value of business acquired
  6,756,531   403,957   -   -   7,160,488 
Depreciation
  628,783   780,253   547,179   -   1,956,215 
General, administrative and
                    
other costs:
                    
Intersegment
  24,000   65,064   236,487   (325,551)  - 
Provision for loan losses
  -   -   19,547,162   -   19,547,162 
Costs related to funding mortgage
                    
  loans
  -   -   10,041,731   -   10,041,731 
Other
  16,939,350   10,923,612   104,726,271   -   132,589,233 
Interest expense:
                    
Intersegment
  764,554   1,019,828   4,239,167   (6,023,549)  - 
Other
  400,299   247,954   2,677,908   -   3,326,161 
Total benefits and expenses
  61,433,165   13,440,668   142,015,905   (6,349,100)  210,540,638 
Earnings (losses) before income taxes
 $(434,103) $(127,746) $6,909,507  $-  $6,347,658 
Income tax (expense) benefit
  125,408   -   (2,699,186)  -   (2,573,778)
Net earnings (losses)
 $(308,695) $(127,746) $4,210,321  $-  $3,773,880 
                      
Identifiable assets
 $435,412,810  $101,357,826  $39,480,787  $(105,674,525) $470,576,898 
                      
Goodwill
 $391,848  $683,191  $-  $-  $1,075,039 
                      
Expenditures for long-lived assets
 $134,948  $139,259  $462,003  $-  $736,210