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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Assets    
Available for sale fixed maturity securities (amortized cost: $80,671,044 and $78,653,792, net of allowances for credit losses of $116,563 and $0, as of June 30, 2024 and December 31, 2023, respectively) $ 76,271,650 $ 74,509,520
Equity securities, at fair value 3,758,098 3,585,885
Limited partnership interests 415,721 389,827
Mortgage loans on real estate (net of allowance for credit losses of $30,781 and $21,644 as of June 30, 2024 and December 31, 2023, respectively) 21,566,157 19,617,253
Other invested assets 2,628,726 2,239,683
Policy loans 27,666 26,132
Real estate, net of depreciation 1,660,040 1,686,668
Total investments 106,328,058 102,054,968
Cash and cash equivalents 7,237,753 8,982,138
Investment income due and accrued 650,353 1,878,620
Reinsurance related assets 3,082,931 1,039,274
Deferred acquisition costs, net 4,349,648 4,751,497
Value of business acquired, net 2,379,763 2,425,973
Property, equipment and software, net 142,056 138,256
Goodwill 277,542 277,542
Federal and state income tax receivable 146,831 146,831
Deferred tax asset, net of valuation allowance 3,701,485 3,888,907
Other assets 990,203 500,630
Total assets 129,286,623 126,084,636
Liabilities:    
Deposit-type contracts 78,505,821 78,063,888
Policyholder benefit reserves 36,850,480 34,233,185
Dividend accumulation 116,688 114,842
Advance premiums 134,198 151,711
Total policy liabilities 115,607,187 112,563,626
Accounts payable and accrued expenses 1,684,684 2,053,363
Federal Home Loan Bank advance 1,000,000 1,000,000
Other liabilities 51,535 136,570
Total liabilities 118,343,406 115,753,559
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 of June 30, 2024 and December 31, 2023 774,893 774,893
Additional paid-in capital 22,964,490 22,964,490
Accumulated deficit (9,766,900) (10,491,934)
Accumulated other comprehensive loss (3,029,266) (2,916,372)
Total shareholders' equity 10,943,217 10,331,077
Total liabilities and shareholders' equity $ 129,286,623 $ 126,084,636