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3) Investments: Held-to-maturity Securities (Tables)

9 Months Ended

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

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