XML 38 R26.htm IDEA: XBRL DOCUMENT v3.25.2

Investments (Tables)

6 Months Ended

Jun. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments

The Company’s investments as of June 30, 2025 are summarized as follows:

 Schedule of Investments

		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses (1)				Allowance for Credit Losses				Estimated Fair Value
June 30, 2025:
Fixed maturity securities, available for sale, at estimated fair value:
U.S. Treasury securities and obligations of U.S. Government agencies		$	77,652,340			$	888,144			$	(247,044	)		$	-			$	78,293,440
Obligations of states and political subdivisions			3,550,803				15,484				(213,175	)			-				3,353,112
Corporate securities including public utilities			284,854,952				5,161,683				(4,397,245	)			(474,937	)			285,144,453
Mortgage-backed securities			26,532,070				119,743				(3,743,849	)			(12,049	)			22,895,915
Redeemable preferred stock			750,000				4,800				-				-				754,800
Total fixed maturity securities available for sale		$	393,340,165			$	6,189,854			$	(8,601,313	)		$	(486,986	)		$	390,441,720
Equity securities at estimated fair value:
Common stock:
Industrial, miscellaneous and all other		$	11,657,063			$	5,506,182			$	(606,714	)						$	16,556,531
Total equity securities at estimated fair value		$	11,657,063			$	5,506,182			$	(606,714	)						$	16,556,531
Mortgage loans held for investment at amortized cost:
Residential		$	92,656,929
Residential construction			165,707,402
Commercial			71,180,249
Less: Unamortized deferred loan fees, net			(2,230,234	)
Less: Allowance for credit losses			(2,640,744	)
Less: Net discounts			(269,606	)
Total mortgage loans held for investment		$	324,403,996
Real estate held for investment - net of accumulated depreciation:
Residential		$	88,976,901
Commercial			124,068,115
Total real estate held for investment		$	213,045,016
Real estate held for sale:
Residential		$	2,941,487
Commercial			151,553
Total real estate held for sale		$	3,093,040
Other investments and policy loans at amortized cost:
Policy loans		$	14,208,030
Insurance assignments			45,161,992
Federal Home Loan Bank stock (2)			1,324,800
Other investments			26,477,699
Less: Allowance for credit losses for insurance assignments			(1,481,032	)
Total other investments and policy loans		$	85,691,489
Accrued investment income		$	9,659,711
Total investments		$	1,042,891,503

(1)	Gross unrealized losses are net of allowance for credit losses
(2)	Includes $581,600 of Membership stock and $743,200 of Activity stock attributable to short-term borrowings and letters of credit.

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

June 30, 2025 (Unaudited)

3) Investments (Continued)

The Company’s investments as of December 31, 2024 are summarized as follows:

		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses (1)				Allowance for Credit Losses				Estimated Fair Value
December 31, 2024:
Fixed maturity securities, available for sale, at estimated fair value:
U.S. Treasury securities and obligations of U.S. Government agencies		$	74,680,606			$	327,618			$	(486,976	)		$	-			$	74,521,248
Obligations of states and political subdivisions			6,416,751				1,762				(290,448	)			-				6,128,065
Corporate securities including public utilities			262,954,278				2,444,842				(6,922,871	)			(408,944	)			258,067,305
Mortgage-backed securities			31,710,436				125,764				(4,244,640	)			(12,049	)			27,579,511
Redeemable preferred stock			250,000				-				-				-				250,000
Total fixed maturity securities available for sale		$	376,012,071			$	2,899,986			$	(11,944,935	)		$	(420,993	)		$	366,546,129
Equity securities at estimated fair value:
Common stock:
Industrial, miscellaneous and all other		$	11,386,454			$	4,976,567			$	(591,340	)						$	15,771,681
Total equity securities at estimated fair value		$	11,386,454			$	4,976,567			$	(591,340	)						$	15,771,681
Mortgage loans held for investment at amortized cost:
Residential		$	92,061,787
Residential construction			151,172,733
Commercial			62,753,085
Less: Unamortized deferred loan fees, net			(2,082,241	)
Less: Allowance for credit losses			(1,885,390	)
Less: Net discounts			(272,616	)
Total mortgage loans held for investment		$	301,747,358
Real estate held for investment - net of accumulated depreciation:
Residential		$	71,618,410
Commercial			126,074,928
Total real estate held for investment		$	197,693,338
Real estate held for sale:
Residential		$	1,126,480
Commercial			151,553
Total real estate held for sale		$	1,278,033
Other investments and policy loans at amortized cost:
Policy loans		$	14,019,248
Insurance assignments			48,493,858
Federal Home Loan Bank stock (2)			2,404,900
Other investments			11,473,961
Less: Allowance for credit losses for insurance assignments			(1,536,926	)
Total policy loans and other investments		$	74,855,041
Accrued investment income		$	8,499,168
Total investments		$	966,390,748

(1)	Gross unrealized losses are net of allowance for credit losses
(2)	Includes $553,900 of Membership stock and $1,851,000 of Activity stock due to short-term advances and letters of credit.

Schedule of Fair Value of Fixed Maturity Securities

 Schedule of Fair Value of Fixed Maturity Securities

		Unrealized Losses for Less than Twelve Months				Fair Value				Unrealized Losses for More than Twelve Months				Fair Value				Total Unrealized Loss				Combined Fair Value
June 30, 2025
U.S. Treasury securities and obligations of U.S. Government agencies		$	26,314			$	11,809,789			$	220,730			$	10,858,448			$	247,044			$	22,668,237
Obligations of states and political subdivisions			5,234				194,766				207,941				2,209,174				213,175				2,403,940
Corporate securities			572,966				38,970,717				3,824,279				71,639,210				4,397,245				110,609,927
Mortgage-backed securities			5,410				638,290				3,738,439				18,084,388				3,743,849				18,722,678
Totals		$	609,924			$	51,613,562			$	7,991,389			$	102,791,220			$	8,601,313			$	154,404,782
December 31, 2024
U.S. Treasury securities and obligations of U.S. Government agencies		$	8,737			$	986,365			$	478,239			$	22,110,495			$	486,976			$	23,096,860
Obligations of states and political subdivisions			15,003				2,167,918				275,445				3,008,385				290,448				5,176,303
Corporate securities including public utilities			1,888,022				93,562,219				5,034,849				77,975,776				6,922,871				171,537,995
Mortgage-backed securities			32,150				2,915,192				4,212,490				19,041,442				4,244,640				21,956,634
Totals		$	1,943,912			$	99,631,694			$	10,001,023			$	122,136,098			$	11,944,935			$	221,767,792

Schedule of Credit Quality of Fixed Maturity Security Portfolio by NAIC Designation

 Schedule of Credit Quality of Fixed Maturity Security Portfolio by NAIC Designation

				June 30, 2025								December 31, 2024
NAIC Designation				Amortized Cost				Estimated Fair  Value				Amortized Cost				Estimated Fair  Value
	1			$	201,287,345			$	199,440,878			$	188,386,980			$	183,460,027
	2				183,343,661				182,932,186				178,060,265				174,405,442
	3				6,718,721				6,289,774				7,961,422				7,342,220
	4				530,927				521,810				649,592				600,459
	5				708,496				502,272				702,643				487,981
	6				1,015				-				1,169				-
	Total			$	392,590,165			$	389,686,920			$	375,762,071			$	366,296,129

Schedule of Allowance for Credit Losses on Fixed Maturity Securities Available for Sale

The following tables present a roll forward of the Company’s allowance for credit losses on fixed maturity securities available for sale for the three month periods ended June 30, 2025 and 2024:

 Schedule of Allowance for Credit Losses on Fixed Maturity Securities Available for Sale

		Three Months Ended June 30, 2025
		U.S. Treasury securities and obligations of U.S. Government agencies				Obligations of states and political subdivisions				Corporate securities including public utilities				Mortgage-backed securities				Total
Beginning balance - March 31, 2025		$	-			$	-			$	495,251			$	12,049			$	507,300
Additions for credit losses not previously recorded			-				-				-				-				-
Change in allowance on securities with previous allowance			-				-				(20,444	)			-				(20,444	)
Reductions for securities sold during the period			-				-				-				-				-
Reductions for securities with credit losses due to intent to sell			-				-				-				-				-
Write-offs charged against the allowance			-				-				-				-				-
Recoveries of amounts previously written off			-				-				130				-				130
Ending Balance - June 30, 2025		$	-			$	-			$	474,937			$	12,049			$	486,986

		Three Months Ended June 30, 2024
		U.S. Treasury securities and obligations of U.S. Government agencies				Obligations of states and political subdivisions				Corporate securities including public utilities				Mortgage-backed securities				Total
Beginning balance - March 31, 2024		$	-			$	-			$	398,500			$	12,049			$	410,549
Additions for credit losses not previously recorded			-				-				-				-				-
Change in allowance on securities with previous allowance			-				-				(16,289	)			-				(16,289	)
Reductions for securities sold during the period			-				-				-				-				-
Reductions for securities with credit losses due to intent to sell			-				-				-				-				-
Write-offs charged against the allowance			-				-				-				-				-
Recoveries of amounts previously written off			-				-				-				-				-
Ending Balance - June 30, 2024		$	-			$	-			$	382,211			$	12,049			$	394,260

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

June 30, 2025 (Unaudited)

3) Investments (Continued)

The following tables present a roll forward of the Company’s allowance for credit losses on fixed maturity securities available for sale for the six month periods ended June 30, 2025 and 2024:

		Six Months Ended June 30, 2025
		U.S. Treasury securities and obligations of U.S. Government agencies				Obligations of states and political subdivisions				Corporate securities including public utilities				Mortgage-backed securities				Total
Beginning balance - December 31, 2024		$	-			$	-			$	408,944			$	12,049			$	420,993
Additions for credit losses not previously recorded			-				-				72,000				-				72,000
Change in allowance on securities with previous allowance			-				-				(6,007	)			-				(6,007	)
Reductions for securities sold during the period			-				-				-				-				-
Reductions for securities with credit losses due to intent to sell			-				-				-				-				-
Write-offs charged against the allowance			-				-				-				-				-
Recoveries of amounts previously written off			-				-				-				-				-
Ending Balance - June 30, 2025		$	-			$	-			$	474,937			$	12,049			$	486,986

		Six Months Ended June 30, 2024
		U.S. Treasury securities and obligations of U.S. Government agencies				Obligations of states and political subdivisions				Corporate securities including public utilities				Mortgage-backed securities				Total
Beginning balance - December 31, 2023		$	-			$	-			$	308,500			$	6,049			$	314,549
Balance		$	-			$	-			$	308,500			$	6,049			$	314,549
Additions for credit losses not previously recorded			-				-				30,000				6,000				36,000
Change in allowance on securities with previous allowance			-				-				43,711				-				43,711
Reductions for securities sold during the period			-				-				-				-				-
Reductions for securities with credit losses due to intent to sell			-				-				-				-				-
Write-offs charged against the allowance			-				-				-				-				-
Recoveries of amounts previously written off			-				-				-				-				-
Ending Balance - June 30, 2024		$	-			$	-			$	382,211			$	12,049			$	394,260
Balance		$	-			$	-			$	382,211			$	12,049			$	394,260

Schedule of Investments Classified by Contractual Maturity Date

The table below presents the amortized cost and the estimated fair value of fixed maturity securities available for sale as of June 30, 2025, by contractual maturity. Actual or expected maturities may differ from contractual maturities because certain securities afford the issuer the right to call or prepay its obligations.

 Schedule of Investments Classified by Contractual Maturity Date

		Amortized Cost				Estimated Fair  Value
Due in 1 year		$	13,289,170			$	13,145,351
Due in 2-5 years			136,097,256				136,429,699
Due in 5-10 years			131,592,054				133,912,390
Due in more than 10 years			85,079,615				83,303,565
Mortgage-backed securities			26,532,070				22,895,915
Redeemable preferred stock			750,000				754,800
Total		$	393,340,165			$	390,441,720

Schedule of Major Categories of Net Investment Income

Information regarding sales of fixed maturity securities available for sale is presented as follows.

 Schedule of Major Categories of Net Investment Income

		Three Months Ended June 30,								Six Months Ended June 30,
		2025				2024				2025				2024
Proceeds from sales		$	15,172			$	427,253			$	2,764,641			$	607,242
Gross realized gains			-				24,031				526				24,334
Gross realized losses			(711	)			(36,646	)			(542	)			(37,499	)

Major categories of net investment income were as follows:

		Three Months Ended June 30,								Six Months Ended June 30,
		2025				2024				2025				2024
Fixed maturity securities available for sale		$	4,749,965			$	4,345,704			$	9,414,798			$	8,749,262
Equity securities			247,633				176,448				440,263				344,596
Mortgage loans held for investment			12,457,357				7,021,559				20,421,897				15,835,595
Real estate held for investment and sale			2,872,566				3,285,019				5,832,278				6,800,080
Policy loans			235,758				189,131				480,363				490,398
Insurance assignments			5,138,214				4,886,015				10,870,365				9,962,563
Other investments			82,349				201,342				243,835				400,301
Cash and cash equivalents			953,618				1,715,910				2,356,252				3,406,867
Gross investment income			26,737,460				21,821,128				50,060,051				45,989,662
Investment expenses			(6,156,472	)			(3,776,320	)			(10,276,439	)			(7,998,286	)
Net investment income		$	20,580,988			$	18,044,808			$	39,783,612			$	37,991,376

 

Schedule of Assets on Deposit With Life Insurance

Assets on deposit with life insurance regulatory authorities as required by law were as follows:

 Schedule of Assets on Deposit With Life Insurance

		As of June 30, 2025				As of December 31, 2024
Fixed maturity securities available for sale at estimated fair value		$	7,469,005			$	6,126,589
Other investments			424,543				400,000
Cash and cash equivalents			1,526,397				1,444,654
Total assets on deposit		$	9,419,945			$	7,971,243

Assets held in trust related to third-party reinsurance agreements were as follows:

		As of June 30, 2025				As of December 31, 2024
Fixed maturity securities available for sale at estimated fair value		$	25,814,271			$	25,309,270
Cash and cash equivalents			4,766,926				4,417,683
Total assets on deposit		$	30,581,197			$	29,726,953

The Company is a member of the Federal Home Loan Bank of Des Moines and Dallas (“FHLB”). Assets pledged as collateral with the FHLB are presented below. These pledged securities are used as collateral for any FHLB cash advances. As of June 30, 2025, the Company owed $15,000,000 to the FHLB for advances. The Company received $32,000,000 in advances and repaid $17,000,000 of these advances during the second quarter of 2025.

		As of June 30, 2025				As of December 31, 2024
Fixed maturity securities available for sale at estimated fair value		$	62,848,520			$	63,800,454
Total assets pledged as collateral		$	62,848,520			$	63,800,454

Schedule of Commercial Real Estate Investment

The Company’s commercial real estate held for investment is summarized as follows as of the respective dates indicated:

 Schedule of Commercial Real Estate Investment 

		Net Book Value								Total Square Footage
		June 30, 2025				December 31, 2024				June 30, 2025				December 31, 2024
Utah (1)		$	124,049,860			$	126,056,342				546,941				546,941
Louisiana			18,255				18,586				1,622				1,622
		$	124,068,115			$	126,074,928				548,563				548,563

(1) Includes Center53

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

June 30, 2025 (Unaudited)

3) Investments (Continued)

The Company’s commercial real estate held for sale is summarized as follows as of the respective dates indicated:

		Net Book Value
		June 30, 2025				December 31, 2024
Mississippi (1)		$	151,553			$	151,553
		$	151,553			$	151,553

(1) Consists of approximately 93 acres of undeveloped land

Schedule of Real Estate Owned and Occupied by the Company

The primary business units of the Company occupy a portion of the real estate owned by the Company. As of June 30, 2025, real estate owned and occupied by the Company is summarized as follows:

Schedule of Real Estate Owned and Occupied by the Company 

Location		Business Segment		Approximate Square Footage				Square Footage Occupied by the Company
433 Ascension Way, Floors 4, 5 and 6, Salt Lake City, UT - Center53 Building 2 (1)		Corporate Offices, Life Insurance, Cemetery/Mortuary Operations, and Mortgage Operations and Sales			216,865				50	%
1818 Marshall Street, Shreveport, LA (2)		Life Insurance Operations			12,274				100	%
812 Sheppard Street, Minden, LA (2) (3)		Life Insurance Sales			1,560				100	%

(1)	Included in real estate held for investment on the condensed consolidated balance sheets
(2)	Included in property and equipment on the condensed consolidated balance sheets
(3)	Listed for sale

Schedule of Residential Real Estate Investment

The Company’s residential real estate held for investment is summarized as follows as of the respective dates indicated:

 Schedule of Residential Real Estate Investment

		Net Book Value
		June 30, 2025				December 31, 2024
Utah (1)		$	88,976,901			$	71,618,410
		$	88,976,901			$	71,618,410

(1) Includes multiple residential subdivision development projects, refer to the following tables.

The Company also invests in residential subdivision developments. The following table presents additional information regarding the Company’s residential subdivision development projects in Utah:

		June 30, 2025				December 31, 2024
Lots developed			246				231
Lots to be developed			1,163				1,046
Book Value		$	88,807,255			$	71,443,356

The Company’s residential real estate held for sale is summarized as follows as of the respective dates indicated:

		Net Book Value
		June 30, 2025				December 31, 2024
Utah		$	2,561,487 (1	)		$	849,900
Florida			-				276,580
Georgia			380,000				-
		$	2,941,487			$	1,126,480

(1) Includes a residential subdivision development project for $2,106,487

Schedule of Allowance for Loan Losses

The following table presents a roll forward of the allowance for credit losses as of the dates indicated:

 Schedule of Allowance for Loan Losses

		Three Months Ended
		Commercial				Residential				Residential Construction				Total
Beginning balance - March 31, 2025		$	1,021,730			$	647,107			$	339,755			$	2,008,592
Change in provision for credit losses (1)			157,537				482,785				(8,170	)			632,152
Charge-offs			-				-				-				-
Ending balance - June 30, 2025		$	1,179,267			$	1,129,892			$	331,585			$	2,640,744
Beginning balance - March 31, 2024		$	859,622			$	1,862,495			$	199,497			$	2,921,614
Change in provision for credit losses (1)			(10,299	)			(83,109	)			25,646				(67,762	)
Charge-offs			-				-				-				-
Ending balance - June 30, 2024		$	849,323			$	1,779,386			$	225,143			$	2,853,852

		Six Months Ended
		Commercial				Residential				Residential Construction				Total
Beginning balance - December 31, 2024		$	732,494			$	850,550			$	302,346			$	1,885,390
Change in provision for credit losses (1)			446,773				279,342				29,239				755,354
Charge-offs			-				-				-				-
Ending balance - June 30, 2025		$	1,179,267			$	1,129,892			$	331,585			$	2,640,744
Beginning balance - December 31, 2023		$	1,219,653			$	2,390,894			$	208,106			$	3,818,653
Change in provision for credit losses (1)			(370,330	)			(611,508	)			17,037				(964,801	)
Charge-offs			-				-				-				-
Ending balance - June 30, 2024		$	849,323			$	1,779,386			$	225,143			$	2,853,852

(1) Included in other expenses on the condensed consolidated statements of earnings

Schedule of Aging of Mortgage Loans

The following table presents the aging of mortgage loans held for investment by loan type as of the dates indicated:

 Schedule of Aging of Mortgage Loans

		Commercial				Residential				Residential  Construction				Total
June 30, 2025
30-59 days past due		$	480,796			$	4,222,720			$	-			$	4,703,516
60-89 days past due			-				797,124				-				797,124
Over 90 days past due (1)			3,196,505				3,364,794				-				6,561,299
In process of foreclosure (1)			191,508				2,189,399				-				2,380,907
Total past due			3,868,809				10,574,037				-				14,442,846
Current			67,311,440				82,082,892				165,707,402				315,101,734
Total mortgage loans			71,180,249				92,656,929				165,707,402				329,544,580
Allowance for credit losses			(1,179,267	)			(1,129,892	)			(331,585	)			(2,640,744	)
Unamortized deferred loan fees, net			(258,313	)			(1,275,782	)			(696,139	)			(2,230,234	)
Unamortized discounts, net			(149,195	)			(120,411	)			-				(269,606	)
Net mortgage loans held for investment		$	69,593,474			$	90,130,844			$	164,679,678			$	324,403,996
December 31, 2024
30-59 days past due		$	2,100,000			$	5,818,334			$	-			$	7,918,334
60-89 days past due			-				845,980				-				845,980
Over 90 days past due (1)			4,205,000				3,061,450				-				7,266,450
In process of foreclosure (1)			191,508				3,942,392				-				4,133,900
Total past due			6,496,508				13,668,156				-				20,164,664
Current			56,256,577				78,393,631				151,172,733				285,822,941
Total mortgage loans			62,753,085				92,061,787				151,172,733				305,987,605
Allowance for credit losses			(732,494	)			(850,550	)			(302,346	)			(1,885,390	)
Unamortized deferred loan fees, net			(115,555	)			(1,307,539	)			(659,147	)			(2,082,241	)
Unamortized discounts, net			(149,268	)			(123,348	)			-				(272,616	)
Net mortgage loans held for investment		$	61,755,768			$	89,780,350			$	150,211,240			$	301,747,358

(1) Interest income is not recognized on loans which are more than 90 days past due or in foreclosure.

Schedule of Commercial and Residential Mortgage Loans By Credit Quality Indicator

The aggregate unpaid principal balance of commercial mortgage loans by credit quality indicator and origination year was as follows as of June 30, 2025:

 Schedule of Commercial and Residential Mortgage Loans By Credit Quality Indicator

Credit Quality Indicator		2025				2024				2023				2022				2021				Prior				Total				% of Total
LTV:
Less than 65%		$	17,393,534			$	3,893,127			$	15,600,000			$	462,761			$	837,745			$	8,576,170			$	46,763,337				65.70	%
65% to 80%			10,923,292				10,432,942				1,840,776				823,397				-				-				24,020,407				33.75	%
Greater than 80%			-				-				-				-				396,505				-				396,505				0.56	%
Total		$	28,316,826			$	14,326,069			$	17,440,776			$	1,286,158			$	1,234,250			$	8,576,170			$	71,180,249				100.00	%
DSCR
>1.20x		$	800,000			$	13,893,127			$	13,640,000			$	-			$	-			$	5,348,121			$	33,681,248				47.32	%
1.00x - 1.20x			27,516,826				432,942				3,800,776				1,286,158				1,234,250				3,228,049				37,499,001				52.68	%
<1.00x			-				-				-				-				-								-				0.00	%
Total		$	28,316,826			$	14,326,069			$	17,440,776			$	1,286,158			$	1,234,250			$	8,576,170			$	71,180,249				100.00	%

The aggregate unpaid principal balance of commercial mortgage loans by credit quality indicator and origination year was as follows as of December 31, 2024:

Credit Quality Indicator		2024				2023				2022				2021				2020				Prior				Total				% of Total
LTV:
Less than 65%		$	7,653,600			$	24,600,000			$	2,352,150			$	864,128			$	-			$	8,867,779			$	44,337,657				70.65	%
65% to 80%			10,432,942				1,840,776				823,397				-				4,913,313				-				18,010,428				28.70	%
Greater than 80%			-				-				-				405,000				-				-				405,000				0.65	%
Total		$	18,086,542			$	26,440,776			$	3,175,547			$	1,269,128			$	4,913,313			$	8,867,779			$	62,753,085				100.00	%
DSCR
>1.20x		$	16,300,000			$	20,990,000			$	1,000,000			$	-			$	4,913,313			$	5,414,274			$	48,617,587				77.47	%
1.00x - 1.20x			432,942				5,450,776				2,175,547				1,269,128				-				3,453,505				12,781,898				20.37	%
<1.00x			1,353,600				-				-				-				-				-				1,353,600				2.16	%
Total		$	18,086,542			$	26,440,776			$	3,175,547			$	1,269,128			$	4,913,313			$	8,867,779			$	62,753,085				100.00	%

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

June 30, 2025 (Unaudited)

3) Investments (Continued)

The Company evaluates and monitors the credit quality of its residential mortgage loans by analyzing LTV and loan performance. The Company defines non-performing mortgage loans as loans more than 90 days past due and on a non-accrual status. Monitoring a residential mortgage loan increases when the loan is delinquent or earlier if there is an indication of impairment.

The aggregate unpaid principal balance of residential mortgage loans by credit quality indicator and origination year was as follows as of June 30, 2025:

Credit Quality Indicator		2025				2024				2023				2022				2021				Prior				Total				% of Total
Performance Indicators:
Performing		$	7,487,073			$	11,960,453			$	11,323,978			$	40,028,411			$	2,906,955			$	13,395,866			$	87,102,736				94.01	%
Non-performing (1)			547,079				553,091				1,932,504				1,050,561				-				1,470,958				5,554,193				5.99	%
Total		$	8,034,152			$	12,513,544			$	13,256,482			$	41,078,972			$	2,906,955			$	14,866,824			$	92,656,929				100.00	%

(1) Includes residential mortgage loans in the process of foreclosure of $2,189,399

LTV:
Less than 65%		$	4,375,611			$	5,643,851			$	4,748,950			$	5,470,866			$	1,342,891			$	6,918,135			$	28,500,304				30.76	%
65% to 80%			3,219,478				6,057,761				7,634,155				34,527,759				1,564,064				6,810,313				59,813,530				64.55	%
Greater than 80%			439,063				811,932				873,377				1,080,347				-				1,138,376				4,343,095				4.69	%
Total		$	8,034,152			$	12,513,544			$	13,256,482			$	41,078,972			$	2,906,955			$	14,866,824			$	92,656,929				100.00	%

The aggregate unpaid principal balance of residential mortgage loans by credit quality indicator and origination year was as follows as of December 31, 2024:

Credit Quality Indicator		2024				2023				2022				2021				2020				Prior				Total				% of Total
Performance Indicators:
Performing		$	14,861,098			$	10,030,848			$	42,634,670			$	3,076,901			$	5,513,462			$	8,940,966			$	85,057,945				92.39	%
Non-performing (1)			-				3,442,992				1,451,039				291,359				311,116				1,507,336				7,003,842				7.61	%
Total		$	14,861,098			$	13,473,840			$	44,085,709			$	3,368,260			$	5,824,578			$	10,448,302			$	92,061,787				100.00	%

(1) Includes residential mortgage loans in the process of foreclosure of $3,942,392

		Year 1				Year 2				Year 3				Year 4				Year 5
LTV:
Less than 65%		$	6,241,730			$	4,931,376			$	5,488,954			$	1,790,036			$	2,440,002			$	5,273,672			$	26,165,770				28.42	%
65% to 80%			7,802,984				7,662,200				37,509,634				1,578,224				2,701,008				5,107,289				62,361,339				67.74	%
Greater than 80%			816,384				880,264				1,087,121				-				683,568				67,341				3,534,678				3.84	%
Total		$	14,861,098			$	13,473,840			$	44,085,709			$	3,368,260			$	5,824,578			$	10,448,302			$	92,061,787				100.00	%

Schedule of Residential Construction Mortgage Loans

The aggregate unpaid principal balance of residential construction mortgage loans by credit quality indicator and origination year was as follows as of June 30, 2025:

 Schedule of Residential Construction Mortgage Loans

Credit Quality Indicator		2025				2024				2023				2022				2021				Total				% of Total
Performance Indicators:
Performing		$	71,979,788			$	78,444,285			$	10,507,327			$	-			$	4,776,002			$	165,707,402				100.00	%
Non-performing			-				-				-				-				-				-				0.00	%
Total		$	71,979,788			$	78,444,285			$	10,507,327			$	-			$	4,776,002			$	165,707,402				100.00	%
LTV:
Less than 65%		$	16,441,043			$	38,732,904			$	10,507,327			$	-			$	4,776,002			$	70,457,276				42.52	%
65% to 80%			55,538,745				39,711,381				-				-				-				95,250,126				57.48	%
Greater than 80%			-				-				-				-				-				-				0.00	%
Total		$	71,979,788			$	78,444,285			$	10,507,327			$	-			$	4,776,002			$	165,707,402				100.00	%

The aggregate unpaid principal balance of residential construction mortgage loans by credit quality indicator and origination year was as follows as of December 31, 2024:

Credit Quality Indicator		2024				2023				2022				2021				Total				% of Total
Performance Indicators:
Performing		$	118,863,944			$	21,375,552			$	972,468			$	9,960,769			$	151,172,733				100.00	%
Non-performing			-				-				-				-				-				0.00	%
Total		$	118,863,944			$	21,375,552			$	972,468			$	9,960,769			$	151,172,733				100.00	%
LTV:
Less than 65%		$	48,065,177			$	21,375,552			$	518,590			$	9,960,769			$	79,920,088				52.87	%
65% to 80%			70,798,767				-				453,878				-				71,252,645				47.13	%
Greater than 80%							-				-				-				-				0.00	%
Total		$	118,863,944			$	21,375,552			$	972,468			$	9,960,769			$	151,172,733				100.00	%

Schedule of Aging of Insurance Assignments

The following table presents the aging of insurance assignments, included in other investments and policy loans on the condensed consolidated balance sheets:

 Schedule of Aging of Insurance Assignments

		As of June 30, 2025				As of December 31, 2024
30-59 days past due		$	8,039,317			$	8,785,184
60-89 days past due			3,552,546				4,046,731
Over 90 days past due			5,151,594				5,320,216
Total past due			16,743,457				18,152,131
Current			28,418,535				30,341,727
Total insurance assignments			45,161,992				48,493,858
Allowance for credit losses			(1,481,032	)			(1,536,926	)
Net insurance assignments		$	43,680,960			$	46,956,932

Schedule of Allowance for Credit Losses

The following table presents a roll forward of the allowance for credit losses for insurance assignments as of the dates indicated:

 Schedule of Allowance for Credit Losses

		Three Months Ended
Beginning balance - March 31, 2025		$	1,517,783
Change in provision for credit losses (1)			257,253
Charge-offs			(294,004	)
Ending balance - June 30, 2025		$	1,481,032
Beginning balance - March 31, 2024		$	1,587,525
Change in provision for credit losses (1)			242,046
Charge-offs			(294,247	)
Ending balance - June 30, 2024		$	1,535,324

		Six Months Ended
Beginning balance - December 31, 2024		$	1,536,926
Change in provision for credit losses (1)			551,051
Charge-offs			(606,945	)
Ending balance - June 30, 2025		$	1,481,032
Beginning balance - December 31, 2023		$	1,553,836
Change in provision for credit losses (1)			492,613
Charge-offs			(511,125	)
Ending balance - June 30, 2024		$	1,535,324

(1) Included in other expenses on the condensed consolidated statements of earnings

Schedule of Gain (Loss) on Investments

The following table presents the realized gains and losses from sales, calls, and maturities, and unrealized gains and losses on equity securities from investments and other assets:

 Schedule of Gain (Loss) on Investments

		Three Months Ended June 30,								Six Months Ended June 30,
		2025				2024				2025				2024
Fixed maturity securities:
Gross realized gains		$	453			$	24,031			$	1,521			$	24,334
Gross realized losses			30,029				(36,646	)			(12,257	)			(37,499	)
Net credit loss provision			20,313				16,289				(65,993	)			(79,711	)
Equity securities:
Gains (losses) on securities sold			15,981				43,733				130,108				(17,370	)
Unrealized gains on securities held at the end of the period			793,404				(424,455	)			1,066,880				1,118,405
Real estate held for investment and sale:
Gross realized gains			202,389				38,890				596,915				288,852
Gross realized losses			-				-				-				(39,081	)
Other assets:
Gross realized gains			81,867				-				88,392				35,486
Gross realized losses			(1,729	)			(39,081	)			(76,838	)			(1,229	)
Total		$	1,142,707			$	(377,239	)		$	1,728,728			$	1,292,187

Schedule of Accrued Investment Income

Accrued investment income consists of the following:

 Schedule of Accrued Investment Income

		As of June 30, 2025				As of December 31, 2024
Fixed maturity securities available for sale		$	4,149,857			$	3,795,581
Equity securities			10,000				11,049
Mortgage loans held for investment			1,211,558				1,049,489
Real estate held for investment			4,229,979				3,559,463
Other investments			30,917				-
Cash and cash equivalents			27,400				83,586
Total accrued investment income		$	9,659,711			$	8,499,168

X

- Definition

Schedule of Residential Real Estate Investment [Table Text Block]

+ References

No definition available.

+ Details

Name:	SNFCA_ResidentialRealEstateInvestmentTextBlock
Namespace Prefix:	SNFCA_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of Aging of Insurance Assignments [Table Text Block]

+ References

No definition available.

+ Details

Name:	SNFCA_ScheduleOfAgingOfInsuranceAssignmentsTableTextBlock
Namespace Prefix:	SNFCA_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of Aging of Mortgage Loans [Table Text Block]

+ References

No definition available.

+ Details

Name:	SNFCA_ScheduleOfAgingOfMortgageLoansTextBlock
Namespace Prefix:	SNFCA_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of allowance for credit losses [Table Text Block]

+ References

No definition available.

+ Details

Name:	SNFCA_ScheduleOfAllowanceForCreditLossesTableTextBlock
Namespace Prefix:	SNFCA_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of Allowance for Loan Losses [Table Text Block]

+ References

No definition available.

+ Details

Name:	SNFCA_ScheduleOfAllowanceForLoanLossesTableTextBlock
Namespace Prefix:	SNFCA_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule Of Fair Value Of Fixed Maturity Securities [Table Text Block]

+ References

No definition available.

+ Details

Name:	SNFCA_ScheduleOfFairValueOfFixedMaturitySecuritiesTableTextBlock
Namespace Prefix:	SNFCA_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of Major Categories of Net Investment Income [Table Text Block]

+ References

No definition available.

+ Details

Name:	SNFCA_ScheduleOfMajorCategoriesOfNetInvestmentIncomeTableTextBlock
Namespace Prefix:	SNFCA_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of Residential Construction Mortgage Loans [Table Text Block]

+ References

No definition available.

+ Details

Name:	SNFCA_ScheduleOfResidentialConstructionMortgageLoansTableTextBlock
Namespace Prefix:	SNFCA_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of Credit Quality of Fixed Maturity Security Portfolio by NAIC Designation [Table Text Block]

+ References

No definition available.

+ Details

Name:	SNFCA_ScheduleofCreditQualityofFixedMaturitySecurityPortfoliobyNAICDesignationTableTextBlock
Namespace Prefix:	SNFCA_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-9

+ Details

Name:	us-gaap_DebtSecuritiesAvailableForSaleAllowanceForCreditLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-5

+ Details

Name:	us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of realized and unrealized gain (loss) on investment in security.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(9)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(7)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

+ Details

Name:	us-gaap_GainLossOnInvestmentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(7)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(7)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

+ Details

Name:	us-gaap_InvestmentIncomeTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

+ Details

Name:	us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of nonconsolidated investments in real estate including interests in corporations, partnerships and joint ventures. Disclosures may include summarized aggregate financial statements for the real estate investments.

+ References

No definition available.

+ Details

Name:	us-gaap_RealEstateInvestmentFinancialStatementsDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481990/310-10-45-3

+ Details

Name:	us-gaap_RealEstateOwnedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 505
-Name Accounting Standards Codification
-Section 55
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478420/944-505-55-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477908/944-505-50-5

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477908/944-505-50-3

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477908/944-505-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(23)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

+ Details

Name:	us-gaap_StatutoryAccountingPracticesDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration