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Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income:        
Premium income $ 3,261,160 $ 3,363,953 $ 6,602,485 $ 6,726,209
Net investment income 1,783,884 1,419,065 3,289,494 2,570,687
Net investment gains (losses) 543,374 (1,421,654) 890,476 (2,154,307)
Other income 86,955 80,621 170,743 160,186
Total income 5,675,373 3,441,985 10,953,198 7,302,775
Expenses:        
Death claims 777,831 727,887 1,719,533 1,525,175
Policyholder benefits 1,933,830 1,953,399 3,497,865 3,613,384
Increase in policyholder reserves 938,317 947,280 1,986,195 2,143,630
Commissions, net of deferrals 190,785 201,881 362,516 392,215
Amortization of deferred acquisition costs 324,589 306,206 691,711 581,904
Amortization of value of business acquired 23,105 23,105 46,210 46,210
Salaries & benefits 372,828 360,261 736,116 684,320
Other operating expenses 425,688 497,211 949,201 1,038,613
Total expense 4,986,973 5,017,230 9,989,347 10,025,451
Net income (loss) $ 688,400 $ (1,575,245) $ 963,851 $ (2,722,676)
Net income (loss) per common share, basic and diluted (in dollars per share) $ 0.09 $ (0.20) $ 0.12 $ (0.35)
Unrealized net holding gains (losses) arising during the period, net of tax $ (533,755) $ (3,157,631) $ 298,464 $ (6,376,041)
Reclassification adjustment for losses included in net income (loss) 0 (1,118) 589 (769)
Other comprehensive income (loss) (533,755) (3,158,749) 299,053 (6,376,810)
Comprehensive income (loss) $ 154,645 $ (4,733,994) $ 1,262,904 $ (9,099,486)