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Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Premium income $ 3,363,953 $ 3,304,921 $ 6,726,209 $ 6,352,098
Net investment income 1,419,065 1,332,580 2,570,687 2,631,572
Net investment gains (losses) (1,421,654) 191,122 (2,154,307) 73,790
Other income 80,621 77,974 160,186 157,402
Total income 3,441,985 4,906,597 7,302,775 9,214,862
Expenses:        
Death claims 727,887 530,632 1,525,175 1,101,796
Policyholder benefits 1,953,399 1,745,769 3,613,384 3,448,788
Increase in policyholder reserves 947,280 1,145,738 2,143,630 2,332,241
Commissions, net of deferrals 201,881 194,253 392,215 373,461
Amortization of deferred acquisition costs 306,206 284,808 581,904 554,865
Amortization of value of business acquired 23,105 23,105 46,210 46,210
Salaries & benefits 360,261 282,167 684,320 538,195
Other operating expenses 497,211 485,422 1,038,613 940,820
Total expense 5,017,230 4,691,894 10,025,451 9,336,376
Net income (loss) $ (1,575,245) $ 214,703 $ (2,722,676) $ (121,514)
Net income (loss) per common share, basic and diluted (in dollars per share) $ (0.20) $ 0.03 $ (0.35) $ (0.02)
Unrealized net holding gains (losses) arising during the period, net of tax $ (3,157,631) $ 1,493,525 $ (6,376,041) $ (786,174)
Reclassification adjustment for gains included in net income (loss) (1,118) (126,899) (769) (113,049)
Other comprehensive income (loss) (3,158,749) 1,366,626 (6,376,810) (899,223)
Comprehensive income (loss) $ (4,733,994) $ 1,581,329 $ (9,099,486) $ (1,020,737)