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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Available for sale securities, at fair value    
Fixed maturity securities (amortized cost - $66,483,930 at 3/31/2017 and $62,929,091 at 12/31/2016) $ 67,684,804 $ 64,134,023
Available for sale securities 12,019,839 9,780,960
Property held for investment, at cost, net of accumulated depreciation of $65,259 at 3/31/2017 and $50,948 at 12/31/2016 2,199,760 2,207,424
Cash and cash equivalents 32,517,702 4,376,847
Total investments and cash 114,422,105 80,499,254
Accrued investment income 523,667 524,156
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $50,000 at 3/31/2017 and 12/31/2016 17,495,767 17,479,487
Ceded unearned premiums 243,075 270,751
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $0 at 3/31/2017 and 12/31/2016 9,472,625 12,114,998
Current federal income taxes 53,873 149,252
Net deferred federal income taxes 526,422 888,254
Deferred policy acquisition costs, net 4,335,085 4,162,927
Property and equipment, at cost, net of accumulated depreciation of $4,414,058 at 3/31/2017 and $4,308,247 at 12/31/2016 3,737,076 3,719,535
Other assets 1,647,346 2,351,347
Total assets 152,457,041 122,159,961
Liabilities:    
Unpaid losses and settlement expenses 49,863,933 52,817,254
Unearned premiums 24,564,128 24,777,712
Reinsurance balances payable 154,968 109,790
Corporate debt 5,215,142 3,786,950
Accrued expenses 2,487,741 4,827,042
Other liabilities 6,530,493 2,241,003
Total liabilities 88,816,405 88,559,751
Equity:    
Common stock [1] 35,000  
Additional paid-in capital 32,587,566  
Accumulated other comprehensive earnings, net of tax 1,208,657 1,154,175
Retained earnings 33,295,079 32,446,035
Less: Unearned Employee Stock Ownership Plan shares at cost [2] (3,485,666)  
Total equity 63,640,636 33,600,210
Total liabilities and equity 152,457,041 122,159,961
Common Stock [Member]    
Available for sale securities, at fair value    
Available for sale securities [3] 8,355,129 6,982,547
Preferred Stock [Member]    
Available for sale securities, at fair value    
Available for sale securities $ 3,664,710 $ 2,798,413
[1] Par value $0.01; authorized: 2017 - 10,000,000 shares and 2016 - 0 shares; issued: 2017 - 3,500,000 and 2016 - 0 shares; outstanding: 2017 - 3,150,000 and 2016 - 0 shares.
[2] 2017 - 350,000 shares and 2016 - 0 shares
[3] Common stock securities consist of exchange trade funds (ETF) made up primarily of Dividends Select and the S&P 500.