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Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Available-for-sale:    
Fixed maturities, at fair value (amortized cost: $81,814,388 at March 31, 2020, and $82,002,411 at December 31, 2019) $ 82,931,949 $ 83,499,710
Held-to-maturity:    
Fixed maturities, at amortized cost (fair value: $798,000 at March 31, 2020, and $798,000 at December 31, 2019) 798,000 798,000
Equity securities, at fair value (cost: $502,484 at March 31, 2020, and $0 at December 31, 2019) 457,684 0
Short-term investments, at fair value 2,198,017 2,196,815
Total Investments 86,385,650 86,494,525
Cash and cash equivalents 5,276,025 5,781,639
Accrued investment income 503,388 397,302
Receivable, net 3,986,844 4,019,437
Reinsurance Recoverable:    
Paid losses and loss adjustment expenses 365,668 685,841
Unpaid losses and loss adjustment expenses 15,399,752 14,725,855
Deferred policy acquisition costs 3,687,979 3,619,594
Property and equipment (net) 10,223,162 10,226,595
Deferred income taxes 4,106,849 3,925,432
Other assets 468,458 430,305
Total Assets 130,403,775 130,306,525
LIABILITIES    
Unpaid losses and loss adjustment expenses 56,139,598 55,066,480
Unearned premium 18,107,398 17,810,337
Advance premium and premium deposits 345,027 219,083
Accrued expenses and other liabilities 2,081,486 2,130,300
Total Liabilities 76,673,509 75,226,200
STOCKHOLDERS' EQUITY    
Common stock, no par, authorized 10,000,000 shares; 5,305,742 and 5,306,720 shares issued and outstanding at March 31, 2020, and December 31, 2019 3,772,189 3,772,669
Accumulated other comprehensive loss 882,873 1,182,866
Retained earnings 49,075,204 50,124,790
Total Stockholders Equity 53,730,266 55,080,325
Total Liabilities and Stockholders' Equity $ 130,403,775 $ 130,306,525