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22) Correction of Errors: Schedule of Error Corrections and Prior Period Adjustments (Tables)

12 Months Ended

Dec. 31, 2017

Consolidated Balance Sheets

Schedule of Error Corrections and Prior Period Adjustments

	As of December 31, 2016
	As Originally Reported		Adjustment (A)		As Previously Reported		Adjustments (B)		As Restated
Equity securities, available for sale, at   estimated fair value	$       10,573,356		$                       -		$       10,573,356		$          (662,100)		$       9,911,256
Mortgage loans held for investment	149,181,578		-		149,181,578		(190,846)		148,990,732
Policy loans and other investments	40,937,146		-		40,937,146		662,100		41,599,246
Loans held for sale (formerly called    Mortgage loans sold to investors)	82,491,091		-		82,491,091		106,648,741		189,139,832
Receivables, net	18,870,119		-		18,870,119		(10,459,573)		8,410,546
Other assets	6,891,468		-		6,891,468		2,418,572		9,310,040
Total Assets	854,004,671		-		854,004,671		98,416,894		952,421,565
Future policy benefits and unpaid claims	585,610,063		-		585,610,063		(1,542,371)		584,067,692
Bank and other loans payable	53,718,548		-		53,718,548		98,422,131		152,140,679
Other liabilities and accrued expenses	33,950,503		-		33,950,503		742,982		34,693,485
Income taxes	27,904,294		-		27,904,294		(3,585,425)		24,318,869
Total liabilities	725,825,117		-		725,825,117		94,037,317		819,862,434
Accumulated other comprehensive    income, net of taxes	264,822		-		264,822		-		264,822
Retained earnings	63,029,627		-		63,029,627		4,379,577		67,409,204
Total stockholders' equity	128,179,554		-		128,179,554		4,379,577		132,559,131
Total Liabilities and Stockholders' Equity	854,004,671		-		854,004,671		98,416,894		952,421,565

	As of January 1, 2016
	As Originally Reported		Adjustment (A)		As Previously Reported		Adjustments (B)		As Restated
Loans held for sale (formerly called    Mortgage loans sold to investors)	$     115,286,455		$                       -		$     115,286,455		$       96,166,551		$   211,453,006
Receivables, net	16,026,100		-		16,026,100		(9,965,106)		6,060,994
Other assets	7,100,869		-		7,100,869		4,338,404		11,439,273
Total Assets	749,933,317		-		749,933,317		90,539,849		840,473,166
Future policy benefits and unpaid claims	517,177,388		-		517,177,388		(1,388,134)		515,789,254
Bank and other loans payable	40,908,915		-		40,908,915		90,096,699		131,005,614
Income taxes	25,052,059		-		25,052,059		(4,639,170)		20,412,889
Total liabilities	638,687,092		-		638,687,092		84,069,395		722,756,487
Accumulated other comprehensive    income (loss), net of taxes	1,533,828		(2,033,186)		(499,358)		-		(499,358)
Retained earnings	52,021,764		2,033,186		54,054,950		6,470,454		60,525,404
Total stockholders' equity	111,246,225		-		111,246,225		6,470,454		117,716,679
Total Liabilities and Stockholders' Equity	749,933,317		-		749,933,317		90,539,849		840,473,166

Consolidated Statements of Earnings

Schedule of Error Corrections and Prior Period Adjustments

	Year Ended December 31, 2016
	As Originally Reported		Adjustment (A)		As Previously Reported		Adjustments (B)		As Restated
Net investment income	$       37,582,444		$                       -		$       37,582,444		$       (5,603,843)		$    31,978,601
Mortgage fee income	186,416,311		-		186,416,311		2,730,328		189,146,639
Total revenues	307,208,416		-		307,208,416		(2,873,515)		304,334,901
Increase in future policy benefits	21,476,432		-		21,476,432		(154,237)		21,322,195
Commissions	87,762,583		-		87,762,583		871,911		88,634,494
Provision for loan loss reserve	4,688,754		-		4,688,754		(2,988,754)		1,700,000
Cost related to funding mortgage loans	8,756,791		-		8,756,791		434,697		9,191,488
Total benefits and expenses	286,468,053		-		286,468,053		(1,836,383)		284,631,670
Earnings before income taxes	20,740,363		-		20,740,363		(1,037,132)		19,703,231
Income tax expense	(6,460,859)		-		(6,460,859)		(1,053,745)		(7,514,604)
Net earnings	14,279,504		-		14,279,504		(2,090,877)		12,188,627
Net earnings per common share (1)	$0.92		$0.00		$0.92		($0.13)		$0.78
Net earnings per common share    assuming dilution (1)	$0.90		$0.00		$0.90		($0.13)		$0.77

Consolidated Satements of Comprehensive Income

Schedule of Error Corrections and Prior Period Adjustments

	Year Ended December 31, 2016
	As Originally Reported		Adjustment (A)		As Previously Reported		Adjustments (B)		As Restated
Net earnings	$       14,279,504		$                       -		$       14,279,504		$       (2,090,877)		$    12,188,627
Net unrealized gains on    derivative instruments	6,490		-		6,490		-		6,490
Other comprehensive gain	764,180		-		764,180		-		764,180

Consolidated Statements of Cash Flows

Schedule of Error Corrections and Prior Period Adjustments

	Year Ended December 31, 2016
	As Originally Reported		Adjustment (A)		As Previously Reported		Adjustments (B)		As Restated
Net earnings	$       14,279,504		$                       -		$       14,279,504		$       (2,090,877)		$        12,188,627
Provision for deferred and other income taxes	5,076,899		-		5,076,899		1,053,745		6,130,644
Loans originated for sale	-		-		-		(3,098,710,299)		(3,098,710,299)
Proceeds from loans sold	-		-		-		3,246,127,714		3,246,127,714
Net gains on loans sold	-		-		-		(137,682,984)		(137,682,984)
Future life and other benefits	18,143,832		-		18,143,832		(154,237)		17,989,595
Receivables for mortgage loans sold	20,216,621		-		20,216,621		(20,216,621)		-
Other operating assets and liabilities	(8,473,503)		-		(8,473,503)		3,348,127		(5,125,376)
Net cash provided by (used in) operating activities	43,860,446		-		43,860,446		(8,325,432)		35,535,014
Net change in warehouse line borrowings	-				-		8,325,432		8,325,432
Net cash provided by financing activities	10,664,656		-		10,664,656		8,325,432		18,990,088

X

- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22663-107794

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22658-107794

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