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3) Investments: Held-to-maturity Securities (Tables) | 9 Months Ended
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Sep. 30, 2018
AsOfSeptember302018 |
Held-to-maturity Securities |
|  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
September 30, 2018 |  |  |  |  |  |  |  |
Fixed maturity securities held to maturity carried at amortized cost: |  |  |  |  |  |  |  |
Bonds: |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ 53,683,435 |  | $ 142,299 |  | $ (1,248,029) |  | $ 52,577,705
Obligations of states and political subdivisions |  | 6,987,405 |  | 40,224 |  | (190,262) |  | 6,837,367
Corporate securities including public utilities |  | 155,372,733 |  | 7,544,943 |  | (2,299,844) |  | 160,617,832
Mortgage-backed securities |  | 13,731,279 |  | 135,074 |  | (323,564) |  | 13,542,789
Redeemable preferred stock |  | 612,023 |  | 36,437 |  | - |  | 648,460
Total fixed maturity securities held to maturity |  | $ 230,386,875 |  | $ 7,898,977 |  | $ (4,061,699) |  | $ 234,224,153
Equity securities at estimated fair value: |  |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |  |
Industrial, miscellaneous and all other |  | $ 5,891,712 |  | $ 786,960 |  | $ (689,754) |  | $ 5,988,918
Total equity securities at estimated fair value |  | $ 5,891,712 |  | $ 786,960 |  | $ (689,754) |  | $ 5,988,918
Mortgage loans held for investment at amortized cost: |  |  |  |  |  |  |  |
Residential |  | $ 79,930,807 |  |  |  |  |  |
Residential construction |  | 71,330,891 |  |  |  |  |  |
Commercial |  | 32,869,447 |  |  |  |  |  |
Less: Unamortized deferred loan fees, net |  | (1,279,465) |  |  |  |  |  |
Less: Allowance for loan losses |  | (1,470,158) |  |  |  |  |  |
Total mortgage loans held for investment |  | $ 181,381,522 |  |  |  |  |  |
Real estate held for investment net of accumulated depreciation: |  |  |  |  |  |  |  |
Residential |  | $ 26,988,179 |  |  |  |  |  |
Commercial |  | 92,088,430 |  |  |  |  |  |
Total real estate held for investment |  | $ 119,076,609 |  |  |  |  |  |
Other investments and policy loans at amortized cost: |  |  |  |  |  |  |  |
Policy loans |  | $ 6,389,122 |  |  |  |  |  |
Insurance assignments |  | 32,166,750 |  |  |  |  |  |
Federal Home Loan Bank stock |  | 2,308,700 |  |  |  |  |  |
Other investments |  | 4,220,893 |  |  |  |  |  |
Less: Allowance for doubtful accounts |  | (1,046,840) |  |  |  |  |  |
Total other investments and policy loans |  | $ 44,038,625 |  |  |  |  |  |
Accrued investment income |  | $ 3,751,942 |  |  |  |  |  |
Total investments |  | $ 584,624,491 |  |  |  |  |  |
AsOfDecember312017 |
Held-to-maturity Securities |
|  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
December 31, 2017: |  |  |  |  |  |  |  |
Fixed maturity securities held to maturity carried at amortized cost: |  |  |  |  |  |  |  |
Bonds: |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ 54,077,069 |  | $ 211,824 |  | $ (579,423) |  | $ 53,709,470
Obligations of states and political subdivisions |  | 5,843,176 |  | 112,372 |  | (71,013) |  | 5,884,535
Corporate securities including public utilities |  | 158,350,727 |  | 14,336,452 |  | (1,007,504) |  | 171,679,675
Mortgage-backed securities |  | 9,503,016 |  | 210,652 |  | (162,131) |  | 9,551,537
Redeemable preferred stock |  | 623,635 |  | 49,748 |  | (191) |  | 673,192
Total fixed maturity securities held to maturity |  | $ 228,397,623 |  | $ 14,921,048 |  | $ (1,820,262) |  | $ 241,498,409
Equity securities at estimated fair value: |  |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |  |
Industrial, miscellaneous and all other |  | $ 6,002,931 |  | $ 667,593 |  | $ (632,669) |  | $ 6,037,855
Total equity securities at estimated fair value |  | $ 6,002,931 |  | $ 667,593 |  | $ (632,669) |  | $ 6,037,855
Mortgage loans held for investment at amortized cost: |  |  |  |  |  |  |  |
Residential |  | $ 102,527,111 |  |  |  |  |  |
Residential construction |  | 50,157,533 |  |  |  |  |  |
Commercial |  | 54,954,865 |  |  |  |  |  |
Less: Unamortized deferred loan fees, net |  | (1,659,828) |  |  |  |  |  |
Less: Allowance for loan losses |  | (1,768,796) |  |  |  |  |  |
Total mortgage loans held for investment |  | $ 204,210,885 |  |  |  |  |  |
Real estate held for investment net of accumulated depreciation: |  |  |  |  |  |  |  |
Residential |  | $ 68,329,917 |  |  |  |  |  |
Commercial |  | 72,968,789 |  |  |  |  |  |
Total real estate held for investment |  | $ 141,298,706 |  |  |  |  |  |
Other investments and policy loans at amortized cost: |  |  |  |  |  |  |  |
Policy loans |  | $ 6,531,352 |  |  |  |  |  |
Insurance assignments |  | 36,301,739 |  |  |  |  |  |
Federal Home Loan Bank stock |  | 689,400 |  |  |  |  |  |
Other investments |  | 3,219,622 |  |  |  |  |  |
Less: Allowance for doubtful accounts |  | (846,641) |  |  |  |  |  |
Total other investments and policy loans |  | $ 45,895,472 |  |  |  |  |  |
Accrued investment income |  | $ 3,644,077 |  |  |  |  |  |
Total investments |  | $ 629,484,618 |  |  |  |  |  |

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- Definition Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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