XML 22 R4.htm IDEA: XBRL DOCUMENT v3.24.1
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Income:    
Premium income $ 13,131,574 $ 12,815,238
Net investment income 6,412,669 4,798,199
Net investment gains (losses) 1,016,561 (1,925,086)
Other income 353,254 317,502
Total income 20,914,058 16,005,853
Expenses:    
Death claims 3,432,119 2,994,386
Policyholder benefits 6,342,303 6,553,901
Increase in policyholder reserves 4,589,538 4,207,703
Commissions, net of deferrals 837,560 777,162
Amortization of deferred acquisition costs 1,407,503 1,205,554
Amortization of value of business acquired 92,420 92,420
Salaries & benefits 1,627,644 1,465,259
Other operating expenses 1,959,242 2,014,953
Total expense 20,288,329 19,311,338
Net income (loss) 625,729 (3,305,485)
Federal income tax benefit 852,347 149,000
Total federal income tax benefit 852,347 149,000
Net Income (loss) $ 1,478,076 $ (3,156,485)
Net income (loss) per common share, basic and diluted (in dollars per share) $ 0.19 $ (0.41)
Unrealized net holding gains (losses) arising during the period, net of tax of (expense) benefit of $(257,962) and $1,679,938 in 2023 and 2022, respectively $ 924,225 $ (6,385,127)
Reclassification adjustment for losses included in net income (loss) 523 22,277
Other comprehensive income (loss) 924,748 (6,362,850)
Comprehensive income (loss) $ 2,402,824 $ (9,519,335)