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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Debt securities, fair value, total $ 67,216,814 $ 65,316,077
Equity securities, at fair value 6,979,018 7,395,044
Limited partnership interests 221,426 0
Mortgage loans on real estate (net of allowance for credit losses of $34,611 as of September 30, 2023) 21,722,582 23,790,073
Other invested assets 2,118,828 1,760,777
Policy loans 25,365 34,980
Real estate, net of depreciation 1,351,649 1,373,716
Total investments 99,635,682 99,670,667
Cash and cash equivalents 6,152,829 4,091,507
Investment income due and accrued 2,611,928 2,086,365
Reinsurance related assets 1,332,661 125,549
Deferred acquisition costs, net 4,963,476 5,629,002
Value of business acquired, net 2,449,078 2,518,393
Property, equipment and software, net 325,383 132,475
Goodwill 277,542 277,542
Deferred tax asset, net of valuation allowance 3,294,522 3,294,522
Other assets 716,974 472,275
Total assets 121,760,075 118,298,297
Liabilities:    
Deposit-type contracts 77,518,637 79,035,350
Policyholder benefit reserves 32,825,994 29,411,984
Dividend accumulation 118,174 121,687
Advance premiums 152,298 168,782
Total policy liabilities 110,615,103 108,737,803
Accounts payable and accrued expenses 2,696,940 448,805
Federal Home Loan Bank advance (1,000,000) (1,000,000)
Other liabilities 40,763 42,295
Total liabilities 114,352,806 110,228,903
Shareholders' Equity:    
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,748,922 and 7,746,922 shares as of September 30, 2023 and December 31, 2022 774,893 774,693
Additional paid-in capital 22,964,490 22,955,458
Accumulated deficit (11,174,751) (11,819,637)
Accumulated other comprehensive loss (5,157,363) (3,841,120)
Total shareholders' equity 7,407,269 8,069,394
Total liabilities and shareholders' equity $ 121,760,075 $ 118,298,297