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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Available for sale securities, at fair value    
Fixed maturity securities (amortized cost - $81,233,167 at 6/30/2017 and $62,929,091 at 12/31/2016) $ 83,005,975 $ 64,134,023
Available for sale securities 14,372,813 9,780,960
Property held for investment, at cost, net of accumulated depreciation of $83,872 at 6/30/2017 and $50,948 at 12/31/2016 2,852,216 2,207,424
Cash and cash equivalents 10,102,965 4,376,847
Total investments and cash 110,333,969 80,499,254
Accrued investment income 647,126 524,156
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $50,000 at 6/30/2017 and 12/31/2016 17,841,248 17,479,487
Ceded unearned premiums 296,208 270,751
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $0 at 6/30/2017 and 12/31/2016 9,750,254 12,114,998
Federal income taxes 1,023,361 1,037,506
Deferred policy acquisition costs, net 4,302,888 4,162,927
Property and equipment, at cost, net of accumulated depreciation of $4,571,613 at 6/30/2017 and $4,308,246 at 12/31/2016 3,657,217 3,719,535
Other assets 1,319,812 2,351,347
Total assets 149,172,083 122,159,961
Liabilities:    
Unpaid losses and settlement expenses 49,691,372 52,817,254
Unearned premiums 25,800,387 24,777,712
Reinsurance balances payable 130,221 109,790
Corporate debt 4,991,138 3,786,950
Accrued expenses 3,181,956 4,827,042
Other liabilities 1,312,382 2,241,003
Total liabilities 85,107,456 88,559,751
Equity:    
Common stock [1] 35,000  
Additional paid-in capital 32,631,781  
Accumulated other comprehensive earnings, net of tax 1,751,083 1,154,175
Retained earnings 33,059,956 32,446,035
Less: Unearned Employee Stock Ownership Plan shares at cost [2] (3,413,193)  
Total equity 64,064,627 33,600,210
Total liabilities and equity 149,172,083 122,159,961
Common Stock [Member]    
Available for sale securities, at fair value    
Available for sale securities [3] 10,590,764 6,982,547
Preferred Stock [Member]    
Available for sale securities, at fair value    
Available for sale securities $ 3,782,049 $ 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 - 3,158,680 and 2016 - 0 shares.
[2] 2017 -348,054 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.