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3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Tables)
 9 Months Ended
Sep. 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

September 30, 2018

 

 

 

 

 

 

 

Allowance for credit losses:

 

 

 

 

 

 

 

Beginning balance - January 1, 2018

$        187,129

 

$     1,546,447

 

$          35,220

 

$     1,768,796

   Charge-offs

                       -

 

            (84,902)

 

                       -

 

            (84,902)

   Provision

                       -

 

          (213,736)

 

                       -

 

          (213,736)

Ending balance - September 30, 2018

$        187,129

 

$     1,247,809

 

$          35,220

 

$     1,470,158

 

 

 

 

 

 

 

 

Ending balance: individually evaluated for impairment

 $                    -

 

$          75,064

 

 $                    -

 

$          75,064

 

 

 

 

 

 

 

 

Ending balance: collectively evaluated for impairment

$        187,129

 

$     1,172,745

 

$          35,220

 

$     1,395,094

 

 

 

 

 

 

 

 

Mortgage loans:

 

 

 

 

 

 

 

Ending balance

$   32,869,447

 

$   79,930,807

 

$   71,330,891

 

$ 184,131,145

 

 

 

 

 

 

 

 

Ending balance: individually evaluated for impairment

$        195,911

 

$     3,088,265

 

$     1,078,529

 

$     4,362,705

 

 

 

 

 

 

 

 

Ending balance: collectively evaluated for impairment

$   32,673,536

 

$   76,842,542

 

$   70,252,362

 

$ 179,768,440

 

 

 

 

 

 

 

 

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