XML 18 R2.htm IDEA: XBRL DOCUMENT v3.24.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Investments:    
Fixed maturity securities, available for sale, at estimated fair value (amortized cost of $390,884,441 and $362,750,511 for 2023 and 2022, respectively; net of allowance for credit losses of $314,549 and nil for 2023 and 2022, respectively) $ 381,535,986 $ 345,858,492
Equity securities at estimated fair value (cost of $10,571,505 and $9,942,265 for 2023 and 2022, respectively) 13,636,071 11,682,526
Mortgage loans held for investment (net of allowance for credit losses of $3,818,653 and $1,970,311 for 2023 and 2022, respectively) 275,616,837 308,123,927
Real estate held for investment (net of accumulated depreciation of $29,307,791 and $23,793,204 for 2023 and 2022, respectively) 183,419,292 191,328,616
Real estate held for sale 3,028,973 11,161,582
Other investments and policy loans (net of allowances for credit losses of $1,553,836 and $1,609,951 for 2023 and 2022, respectively) 69,404,617 70,508,156
Accrued investment income 10,170,790 10,299,826
Total investments 936,812,566 948,963,125
Cash and cash equivalents 126,941,658 120,919,805
Loans held for sale at estimated fair value 126,549,190 141,179,620
Receivables (net of allowance for credit losses of $1,897,887 and $2,229,791 for 2023 and 2022, respectively) 15,335,315 28,573,092
Restricted assets (including $9,239,063 and $6,565,552 for 2023 and 2022, respectively, at estimated fair value) 20,028,976 18,935,055
Cemetery perpetual care trust investments (including $4,969,005 and $3,859,893 for 2023 and 2022 at estimated fair value) 8,082,917 7,276,210
Receivable from reinsurers 14,857,059 15,033,938
Cemetery land and improvements 9,163,691 9,101,474
Deferred policy and pre-need contract acquisition costs 116,351,067 108,655,128
Mortgage servicing rights, net 3,461,146 3,039,765
Property and equipment, net 19,175,099 20,579,649
Value of business acquired 8,467,613 9,803,736
Goodwill 5,253,783 5,253,783
Other 20,072,195 23,798,512
Total Assets 1,430,552,275 1,461,112,892
Liabilities    
Future policy benefits and unpaid claims 916,038,616 889,327,303
Unearned premium reserve 2,543,822 2,773,616
Bank and other loans payable 105,555,137 161,712,804
Deferred pre-need cemetery and mortuary contract revenues 18,237,246 16,226,836
Cemetery perpetual care obligation 5,326,196 5,099,542
Accounts payable 2,936,968 5,361,449
Other liabilities and accrued expenses 53,266,090 57,113,888
Income taxes 13,752,981 30,710,527
Total liabilities 1,117,657,056 1,168,325,965
Stockholders’ Equity    
Preferred stock - non-voting-$1.00 par value; 5,000,000 shares authorized;  none issued or outstanding
Additional paid-in capital 72,424,429 64,767,769
Accumulated other comprehensive loss, net of taxes (6,885,558) (13,070,277)
Retained earnings 206,978,373 202,160,306
Treasury stock, at cost - 806,311 Class A shares and 35,717 Class C shares as of December 31, 2023; and 525,870 Class A shares and 34,016 Class C shares as of December 31, 2022 (5,661,737) (4,366,651)
Total stockholders’ equity 312,895,219 292,786,927
Total Liabilities and Stockholders’ Equity 1,430,552,275 1,461,112,892
Common Class A [Member]    
Stockholders’ Equity    
Common stock value 40,096,004 37,516,062
Common Class B [Member]    
Stockholders’ Equity    
Common stock value
Common Class C [Member]    
Stockholders’ Equity    
Common stock value $ 5,943,708 $ 5,779,718