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3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Tables)
 9 Months Ended
Sep. 30, 2015
Tables/Schedules  
Schedule of Allowance for loan losses as a contra-asset account

 

Allowance for Credit Losses and Recorded Investment in Mortgage Loans

 

 

Commercial

Residential

Residential Construction

Total

September 30, 2015

Allowance for credit losses:

 

 

 

 

 

 

 

 

Beginning balance - January 1, 2015

 $        187,129

 $     1,715,812

 $        100,114

 $     2,003,055

   Charge-offs

                       -

                       -

                       -

                       -

   Provision

                       -

          (146,361)

                       -

          (146,361)

Ending balance -September 30, 2015

 $        187,129

 $     1,569,451

 $        100,114

 $     1,856,694

Ending balance: individually evaluated for impairment

 $                    -

 $        198,818

 $                    -

 $        198,818

Ending balance: collectively evaluated for impairment

 $        187,129

 $     1,370,634

 $        100,114

 $     1,657,877

Ending balance: loans acquired with deteriorated credit quality

 $                    -

 $                    -

 $                    -

 $                    -

Mortgage loans:

Ending balance

 $   36,601,043

 $   48,076,245

 $   28,862,660

 $ 113,539,948

Ending balance: individually evaluated for impairment

 $                    -

 $     2,989,318

 $                    -

 $     2,989,318

Ending balance: collectively evaluated for impairment

 $   36,601,043

 $   45,086,928

 $   28,862,660

 $ 110,550,631

Ending balance: loans acquired with deteriorated credit quality

 $                    -

 $                    -

 $                    -

 $                    -

December 31, 2014

Allowance for credit losses:

Beginning balance - January 1, 2014

 $        187,129

 $     1,364,847

 $        100,114

 $     1,652,090

   Charge-offs

                       -

            (38,444)

                       -

            (38,444)

   Provision

                       -

           389,409

                       -

           389,409

Ending balance - December 31, 2014

 $        187,129

 $     1,715,812

 $        100,114

 $     2,003,055

Ending balance: individually evaluated for impairment

 $                    -

 $        153,446

 $                    -

 $        153,446

Ending balance: collectively evaluated for impairment

 $        187,129

 $     1,562,366

 $        100,114

 $     1,849,609

Ending balance: loans acquired with deteriorated credit quality

 $                    -

 $                    -

 $                    -

 $                    -

Mortgage loans:

Ending balance

 $   35,388,756

 $   53,592,433

 $   33,071,938

 $ 122,053,127

Ending balance: individually evaluated for impairment

 $                    -

 $     1,556,182

 $        414,499

 $     1,970,681

Ending balance: collectively evaluated for impairment

 $   35,388,756

 $   52,036,251

 $   32,657,439

 $ 120,082,446

Ending balance: loans acquired with deteriorated credit quality

 $                    -

 $                    -

 $                    -

 $                    -