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3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Tables)
 6 Months Ended
Jun. 30, 2018
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

June 30, 2018

Allowance for credit losses:

Beginning balance - January 1, 2018

$        187,129

$     1,546,447

$          35,220

$     1,768,796

   Charge-offs

                       -

              (5,725)

                       -

              (5,725)

   Provision

                       -

          (199,407)

                       -

          (199,407)

Ending balance - June 30, 2018

$        187,129

$     1,341,315

$          35,220

$     1,563,664

Ending balance: individually evaluated for impairment

 $                    -

$        240,152

 $                    -

$        240,152

Ending balance: collectively evaluated for impairment

$        187,129

$     1,101,163

$          35,220

$     1,323,512

Mortgage loans:

Ending balance

$   44,682,145

$   87,960,136

$   63,461,371

$ 196,103,652

Ending balance: individually evaluated for impairment

$                    -

$     4,475,326

$     1,122,279

$     5,597,605

Ending balance: collectively evaluated for impairment

$   44,682,145

$   83,484,810

$   62,339,092

$ 190,506,047

December 31, 2017

Allowance for credit losses:

Beginning balance - January 1, 2017

$        187,129

$     1,461,540

$        100,114

$     1,748,783

   Charge-offs

                       -

         (351,357)

            (64,894)

         (416,251)

   Provision

                       -

           436,264

                       -

           436,264

Ending balance - December 31, 2017

$        187,129

$     1,546,447

$          35,220

$     1,768,796

Ending balance: individually evaluated for impairment

 $                    -

$        237,560

 $                    -

$        237,560

Ending balance: collectively evaluated for impairment

$        187,129

$     1,308,887

$          35,220

$     1,531,236

Mortgage loans:

Ending balance

$   54,954,865

$ 102,527,111

$   50,157,533

$ 207,639,509

Ending balance: individually evaluated for impairment

$                    -

$     4,923,552

$        461,834

$     5,385,386

Ending balance: collectively evaluated for impairment

$   54,954,865

$   97,603,559

$   49,695,699

$ 202,254,123