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16) Fair Value of Financial Instruments: Schedule of fair value assets and liabilities measured on a recurring basis (Tables)
 12 Months Ended
Dec. 31, 2013
As Of December 31 2013
  
Schedule of fair value assets and liabilities measured on a recurring basis

 

The following table summarizes Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a recurring basis by their classification in the consolidated balance sheet at December 31, 2013.

 

 

 

Total

 

 Quoted Prices in Active Markets for Identical Assets (Level 1)

 

 Significant Observable Inputs (Level 2)

 

 Significant Unobservable Inputs (Level 3)

Assets accounted for at fair value on a    recurring basis

 

 

 

 

 

 

 

 Common stock

 $           4,498,756

 

 $          4,498,756

 

 $                 -

 

 $                         -

 Total securities available for sale

              4,498,756

 

             4,498,756

 

                    -

 

                            -

 Restricted assets of cemeteries and mortuaries

                 667,149

 

                667,149

 

                    -

 

                            -

 Cemetery perpetual care trust investments

                 695,616

 

                695,616

 

                    -

 

                            -

 Derivatives - interest rate lock commitments

              1,511,111

 

                           -

 

                    -

 

             1,511,111

 Total assets accounted for at fair value on a    recurring basis

 $           7,372,632

 

 $          5,861,521

 

 $                 -

 

 $          1,511,111

 

 

 

 

 

 

 

 

Liabilities accounted for at fair value on a    recurring basis

 

 

 

 

 

 

 

 Policyholder account balances

 $       (48,000,668)

 

 $                        -

 

 $                 -

 

 $      (48,000,668)

 Future policy benefits - annuities

          (65,052,928)

 

                           -

 

                    -

 

         (65,052,928)

 Derivatives  - bank loan interest rate swaps

                 (58,310)

 

                           -

 

                    -

 

                (58,310)

  - call options

               (124,174)

 

              (124,174)

 

                    -

 

                            -

  - interest rate lock commitments

                 (23,203)

 

                           -

 

                    -

 

                (23,203)

 Total liabilities accounted for at fair value    on a recurring basis

 $     (113,259,283)

 

 $           (124,174)

 

 $                 -

 

 $    (113,135,109)
AsOfDecember312012Member
  
Schedule of fair value assets and liabilities measured on a recurring basis

 

The following table summarizes Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a recurring basis by their classification in the consolidated balance sheet at December 31, 2012.

 

Total

 

 Quoted Prices in Active Markets for Identical Assets (Level 1)

 

 Significant Observable Inputs (Level 2)

 

 Significant Unobservable Inputs (Level 3)

 Assets accounted for at fair value on a    recurring basis

 

 

 

 

 

 

 

 Non-redeemable preferred stock

 $                18,795

 

 $             18,795

 

 $                -

 

 $                         -

 Common stock

              5,386,317

 

           5,386,317

 

                   -

 

                            -

 Total securities available for sale

              5,405,112

 

           5,405,112

 

                   -

 

                            -

 Restricted assets of cemeteries and mortuaries

                 585,412

 

              585,412

 

                   -

 

                            -

 Cemetery perpetual care trust investments

                 626,048

 

              626,048

 

                   -

 

                            -

 Derivatives - interest rate lock commitments

              3,127,689

 

                         -

 

                   -

 

              3,127,689

 Total assets accounted for at fair value on a    recurring basis

 $           9,744,261

 

 $        6,616,572

 

 $                -

 

 $           3,127,689

 

 

 

 

 

 

 

 

 Liabilities accounted for at fair value on a    recurring basis

 

 

 

 

 

 

 

 Policyholder account balances

 $       (49,746,337)

 

 $                      -

 

 $                -

 

 $       (49,746,337)

 Future policy benefits - annuities

          (65,171,687)

 

                         -

 

                   -

 

          (65,171,687)

 Derivatives  - bank loan interest rate swaps

                 (93,572)

 

                         -

 

                   -

 

                 (93,572)

  - call options

               (126,215)

 

            (126,215)

 

                   -

 

                            -

  - interest rate lock commitments

               (166,224)

 

                         -

 

                   -

 

               (166,224)

 Total liabilities accounted for at fair value   on a recurring basis

 $     (115,304,035)

 

 $         (126,215)

 

 $                -

 

 $     (115,177,820)