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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Assets    
Available for sale fixed maturity securities (amortized cost: $78,977,046 and $78,653,792 as of March 31, 2024 and December 31, 2023, respectively) $ 74,910,043 $ 74,509,520
Equity securities, at fair value 3,742,820 3,585,885
Limited partnership interests 401,778 389,827
Mortgage loans on real estate (net of allowance for credit losses of $21,644 as of March 31, 2024 and December 31, 2023, respectively) 18,605,882 19,617,253
Other invested assets 2,234,249 2,239,683
Policy loans 26,755 26,132
Real estate, net of depreciation 1,673,354 1,686,668
Total investments 101,594,881 102,054,968
Cash and cash equivalents 11,143,670 8,982,138
Investment income due and accrued 2,038,079 1,878,620
Reinsurance related assets 701,622 1,039,274
Deferred acquisition costs, net 4,513,413 4,751,497
Value of business acquired, net 2,402,868 2,425,973
Property, equipment and software, net 143,317 138,256
Goodwill 277,542 277,542
Federal and state income tax receivable 146,831 146,831
Deferred tax asset, net of valuation allowance 3,888,907 3,888,907
Other assets 459,526 500,630
Total assets 127,310,656 126,084,636
Liabilities:    
Deposit-type contracts 77,613,289 78,063,888
Policyholder benefit reserves 35,378,980 34,233,185
Dividend accumulation 115,761 114,842
Advance premiums 171,051 151,711
Total policy liabilities 113,279,081 112,563,626
Accounts payable and accrued expenses 2,332,949 2,053,363
Federal Home Loan Bank advance (1,000,000) (1,000,000)
Other liabilities 280,668 136,570
Total liabilities 116,892,698 115,753,559
Shareholders' Equity:    
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,748,922 and 7,748,922 shares as ofMarch 31, 2024 and December 31, 2023 774,893 774,893
Additional paid-in capital 22,964,490 22,964,490
Accumulated deficit (10,477,977) (10,491,934)
Accumulated other comprehensive loss (2,843,448) (2,916,372)
Total shareholders' equity 10,417,958 10,331,077
Total liabilities and shareholders' equity $ 127,310,656 $ 126,084,636