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2) Investments: Held-to-maturity Securities (Tables) | 12 Months Ended
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Dec. 31, 2018
As of December 2018 |
Held-to-maturity Securities |
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
December 31, 2018: |  |  |  |  |  |  |  |
Fixed maturity securities held to maturity carried at amortized cost: |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ 52,017,683 |  | $ 264,891 |  | $ (727,798) |  | $ 51,554,776
Obligations of states and political subdivisions |  | 6,959,237 |  | 32,274 |  | (111,271) |  | 6,880,240
Corporate securities including public utilities |  | 157,639,860 |  | 7,002,864 |  | (3,704,137) |  | 160,938,587
Mortgage-backed securities |  | 15,358,746 |  | 227,398 |  | (308,864) |  | 15,277,280
Redeemable preferred stock |  | 103,197 |  | 1,903 |  | (5,125) |  | 99,975
Total fixed maturity securities held to maturity |  | $ 232,078,723 |  | $ 7,529,330 |  | $ (4,857,195) |  | $ 234,750,858
Equity securities at estimated fair value: |  |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |  |
Industrial, miscellaneous and all other |  | $ 6,312,158 |  | $ 422,528 |  | $ (1,176,075) |  | $ 5,558,611
Total equity securities at estimated fair value |  | $ 6,312,158 |  | $ 422,528 |  | $ (1,176,075) |  | $ 5,558,611
Mortgage loans held for investment at amortized cost: |  |  |  |  |  |  |  |
Residential |  | $ 89,935,600 |  |  |  |  |  |
Residential construction |  | 71,366,544 |  |  |  |  |  |
Commercial |  | 27,785,927 |  |  |  |  |  |
Less: Unamortized deferred loan fees, net |  | (1,275,030) |  |  |  |  |  |
Less: Allowance for loan losses |  | (1,347,972) |  |  |  |  |  |
Total mortgage loans held for investment |  | $ 186,465,069 |  |  |  |  |  |
Real estate held for investment - net of accumulated depreciation: |  |  |  |  |  |  |  |
Residential |  | $ 29,507,431 |  |  |  |  |  |
Commercial |  | 92,050,791 |  |  |  |  |  |
Total real estate held for investment |  | $ 121,558,222 |  |  |  |  |  |
Other investments and policy loans at amortized cost: |  |  |  |  |  |  |  |
Policy loans |  | $ 6,424,325 |  |  |  |  |  |
Insurance assignments |  | 35,239,396 |  |  |  |  |  |
Federal Home Loan Bank stock (1) |  | 2,548,700 |  |  |  |  |  |
Other investments |  | 3,497,762 |  |  |  |  |  |
Less: Allowance for doubtful accounts |  | (1,092,528) |  |  |  |  |  |
Total policy loans and other investments |  | $ 46,617,655 |  |  |  |  |  |
Accured investment income |  | $ 3,566,146 |  |  |  |  |  |
Total investments |  | $ 595,844,426 |  |  |  |  |  |
(1) Includes $708,700 of Membership stock and $1,840,000 of Activity stock due to short-term borrowings. |  |  |  |  |  |
AsOfDecember312017 |
Held-to-maturity Securities |
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
December 31, 2017: |  |  |  |  |  |  |  |
Fixed maturity securities held to maturity carried at amortized cost: |  |  |  |  |  |  |  |
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 (1) |  | 689,400 |  |  |  |  |  |
Other investments |  | 3,219,622 |  |  |  |  |  |
Less: Allowance for doubtful accounts |  | (846,641) |  |  |  |  |  |
Total policy loans and other investments |  | $ 45,895,472 |  |  |  |  |  |
Accured investment income |  | $ 3,644,077 |  |  |  |  |  |
Total investments |  | $ 629,484,618 |  |  |  |  |  |
(1) Membership stock of $689,400 |  |  |  |  |  |

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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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