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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Assets    
Available for sale fixed maturity securities (amortized cost: $82,556,371 and $83,785,307, net of allowances for credit losses of $0 and $0, as of March 31, 2025 and December 31, 2024, respectively) $ 78,878,689 $ 79,578,179
Equity securities, at fair value 3,728,548 3,876,085
Limited partnership interests 688,788 428,170
Mortgage loans on real estate (net of allowance for credit losses of $488,660 and $55,685 as of March 31, 2025 and December 31, 2024, respectively) 24,194,567 25,192,749
Other invested assets 1,185,571 1,109,606
Policy loans 32,513 31,745
Real estate, net of depreciation 1,638,910 1,652,553
Total investments 110,347,586 111,869,087
Cash and cash equivalents 6,721,441 6,903,783
Investment income due and accrued 1,018,582 954,324
Reinsurance related assets 870,616 522,142
Deferred acquisition costs, net 3,957,070 3,908,636
Value of business acquired, net 2,310,448 2,333,553
Property, equipment and software, net 129,647 136,353
Goodwill 277,542 277,542
Federal and state income tax receivable 182,349 182,349
Deferred tax asset, net of valuation allowance 4,003,493 3,747,111
Other assets 452,541 459,102
Total assets 130,271,315 131,293,982
Liabilities:    
Deposit-type contracts 74,759,710 77,940,378
Policyholder benefit reserves 41,499,062 39,898,138
Dividend accumulation 99,645 100,885
Advance premiums 237,659 248,749
Total policy liabilities 116,596,076 118,188,150
Accounts payable and accrued expenses 2,011,693 1,133,521
Federal Home Loan Bank advance 1,250,000 1,250,000
Other liabilities 569,854 91,893
Total liabilities 120,427,623 120,663,564
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 March 31, 2025 and December 31, 2024 774,893 774,893
Additional paid-in capital 22,976,543 22,966,657
Accumulated deficit (11,392,901) (10,020,956)
Accumulated other comprehensive loss (2,514,843) (3,090,176)
Total shareholders' equity 9,843,692 10,630,418
Total liabilities and shareholders' equity $ 130,271,315 $ 131,293,982