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Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income:        
Premium income $ 3,544,213 $ 3,353,042 $ 11,299,100 $ 9,955,527
Net investment income 1,310,732 1,803,369 5,306,212 5,092,863
Net investment gains (losses) 56,118 (257,552) 568,778 632,924
Other income 80,473 97,023 455,741 267,766
Total income 4,991,536 4,995,882 17,629,831 15,949,080
Expenses:        
Death claims 815,287 901,546 2,938,512 2,621,079
Policyholder benefits 1,530,753 1,435,212 5,292,687 4,933,077
Increase in policyholder reserves 1,474,839 1,386,070 3,962,363 3,372,265
Commissions, net of deferrals 218,441 198,623 654,809 561,139
Amortization of deferred acquisition costs 349,402 368,263 1,046,775 1,059,974
Amortization of value of business acquired 23,105 23,105 69,315 69,315
Salaries & benefits 431,837 423,269 1,140,240 1,159,385
Other operating expenses 623,378 428,386 2,058,170 1,377,587
Total expense 5,467,042 5,164,474 17,162,871 15,153,821
Net income (loss) before tax (475,506) (168,592) 466,960 795,259
Deferred federal income tax (expense) benefit 103,134 0 (114,298) 0
Total federal income tax (expense) benefit 103,134 0 (114,298) 0
Net Income (loss) $ (372,372) $ (168,592) $ 352,662 $ 795,259
Net income (loss) per common share, basic and diluted (in dollars per share) $ (0.05) $ (0.02) $ 0.05 $ 0.1
Unrealized net holding gains (losses) arising during the period, net of tax $ 1,634,813 $ (1,615,296) $ 1,476,857 $ (1,316,832)
Reclassification adjustment for losses included in net income 120,845 0 165,907 589
Other comprehensive income (loss) 1,755,658 (1,615,296) 1,642,764 (1,316,243)
Comprehensive income (loss) $ 1,383,286 $ (1,783,888) $ 1,995,426 $ (520,984)