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3) Investments: Held-to-maturity Securities (Tables) | 6 Months Ended
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Jun. 30, 2017
AsOfJune302017Member |
Held-to-maturity Securities |
|  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
June 30, 2017 |  |  |  |  |  |  |  |
Fixed maturity securities held to maturity carried at amortized cost: |  |  |  |  |  |  |  |
Bonds: |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ 14,420,200 |  | $ 248,373 |  | $ (59,763) |  | $ 14,608,810
Obligations of states and political subdivisions |  | 5,973,209 |  | 130,535 |  | (89,335) |  | 6,014,409
Corporate securities including public utilities |  | 161,579,151 |  | 13,657,535 |  | (2,170,322) |  | 173,066,364
Mortgage-backed securities |  | 10,612,465 |  | 238,013 |  | (159,091) |  | 10,691,387
Redeemable preferred stock |  | 623,635 |  | 39,838 |  | - |  | 663,473
Total fixed maturity securities held to maturity |  | $ 193,208,660 |  | $ 14,314,294 |  | $ (2,478,511) |  | $ 205,044,443
Equity securities available for sale at estimated fair value: |  |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |  |
Industrial, miscellaneous and all other |  | $ 6,969,968 |  | $ 388,504 |  | $ (859,372) |  | $ 6,499,100
Total equity securities available for sale at estimated fair value |  | $ 6,969,968 |  | $ 388,504 |  | $ (859,372) |  | $ 6,499,100
Mortgage loans on real estate and construction loans held for investment at amortized cost: |  |  |  |  |  |  |  |
Residential |  | $ 63,031,000 |  |  |  |  |  |
Residential construction |  | 34,512,524 |  |  |  |  |  |
Commercial |  | 39,763,788 |  |  |  |  |  |
Less: Unamortized deferred loan fees, net |  | (387,020) |  |  |  |  |  |
Less: Allowance for loan losses |  | (1,921,028) |  |  |  |  |  |
Total mortgage loans on real estate and construction loans held for investment |  | $ 134,999,264 |  |  |  |  |  |
Real estate held for investment - net of depreciation |  | $ 151,355,029 |  |  |  |  |  |
Policy loans and other investments are shown at amortized cost: |  |  |  |  |  |  |  |
Policy loans |  | $ 6,685,452 |  |  |  |  |  |
Insurance assignments |  | 32,450,071 |  |  |  |  |  |
Other investments |  | 2,925,000 |  |  |  |  |  |
Less: Allowance for doubtful accounts |  | (1,072,529) |  |  |  |  |  |
Total policy loans and other investments |  | $ 40,987,994 |  |  |  |  |  |
Short-term investments at amortized cost |  | $ 23,448,480 |  |  |  |  |  |
AsOfDecember312016Member |
Held-to-maturity Securities |
|  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
December 31, 2016: |  |  |  |  |  |  |  |
Fixed maturity securities held to maturity carried at amortized cost: |  |  |  |  |  |  |  |
Bonds: |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ 4,475,065 |  | $ 249,028 |  | $ (66,111) |  | $ 4,657,982
Obligations of states and political subdivisions |  | 6,017,225 |  | 153,514 |  | (133,249) |  | 6,037,490
Corporate securities including public utilities |  | 164,375,636 |  | 10,440,989 |  | (3,727,013) |  | 171,089,612
Mortgage-backed securities |  | 9,488,083 |  | 221,400 |  | (280,871) |  | 9,428,612
Redeemable preferred stock |  | 623,635 |  | 13,418 |  | - |  | 637,053
Total fixed maturity securities held to maturity |  | $ 184,979,644 |  | $ 11,078,349 |  | $ (4,207,244) |  | $ 191,850,749
Equity securities available for sale at estimated fair value: |  |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |  |
Industrial, miscellaneous and all other |  | $ 10,985,338 |  | $ 447,110 |  | $ (859,092) |  | $ 10,573,356
Total securities available for sale carried at estimated fair value |  | $ 10,985,338 |  | $ 447,110 |  | $ (859,092) |  | $ 10,573,356
Mortgage loans on real estate and construction loans held for investment at amortized cost: |  |  |  |  |  |  |  |
Residential |  | $ 58,593,622 |  |  |  |  |  |
Residential construction |  | 40,800,117 |  |  |  |  |  |
Commercial |  | 51,536,622 |  |  |  |  |  |
Less: Allowance for loan losses |  | (1,748,783) |  |  |  |  |  |
Total mortgage loans on real estate and construction loans held for investment |  | $ 149,181,578 |  |  |  |  |  |
Real estate held for investment - net of depreciation |  | $ 145,165,921 |  |  |  |  |  |
Policy loans and other investments are shown at amortized cost: |  |  |  |  |  |  |  |
Policy loans |  | $ 6,694,148 |  |  |  |  |  |
Insurance assignments |  | 33,548,079 |  |  |  |  |  |
Promissory notes |  | 48,797 |  |  |  |  |  |
Other investments |  | 1,765,752 |  |  |  |  |  |
Less: Allowance for doubtful accounts |  | (1,119,630) |  |  |  |  |  |
Total policy loans and other investments |  | $ 40,937,146 |  |  |  |  |  |
Short-term investments at amortized cost |  | $ 27,560,040 |  |  |  |  |  |

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- Definition Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27405-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27232-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75019621&loc=d3e62586-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27337-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6435544&loc=d3e41834-113960 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5086-111524 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=75019621&loc=d3e62557-112803 + Details
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