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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Available for sale securities, at fair value    
Fixed maturity securities (amortized cost - $85,067,335 at 9/30/2017 and $62,929,091 at 12/31/2016) $ 87,040,384 $ 64,134,023
Available for sale securities 15,049,861 9,780,960
Property held for investment, at cost, net of accumulated depreciation of $103,080 at 9/30/2017 and $50,948 at 12/31/2016 2,865,376 2,207,424
Cash and cash equivalents 6,853,760 4,376,847
Total investments and cash 111,809,381 80,499,254
Accrued investment income 715,950 524,156
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $50,000 at 9/30/2017 and 12/31/2016 18,219,138 17,479,487
Ceded unearned premiums 297,127 270,751
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $0 at 9/30/2017 and 12/31/2016 11,640,539 12,114,998
Federal income taxes 1,217,921 1,037,506
Deferred policy acquisition costs, net 4,556,116 4,162,927
Property and equipment, at cost, net of accumulated depreciation of $4,747,641 at 9/30/2017 and $4,308,247 at 12/31/2016 3,564,286 3,719,535
Other assets 1,138,907 2,351,347
Total assets 153,159,365 122,159,961
Liabilities:    
Unpaid losses and settlement expenses 52,551,866 52,817,254
Unearned premiums 26,789,274 24,777,712
Reinsurance balances payable 179,000 109,790
Corporate debt 4,454,138 3,786,950
Accrued expenses 4,072,007 4,827,042
Other liabilities 1,371,653 2,241,003
Total liabilities 89,417,938 88,559,751
Equity:    
Common stock [1] 35,000  
Additional paid-in capital 32,296,455  
Accumulated other comprehensive earnings, net of tax 2,048,763 1,154,175
Retained earnings 32,711,173 32,446,035
Less: Unearned Employee Stock Ownership Plan shares at cost [2] (3,349,964)  
Total equity 63,741,427 33,600,210
Total liabilities and equity 153,159,365 122,159,961
Common Stock [Member]    
Available for sale securities, at fair value    
Available for sale securities [3] 11,264,700 6,982,547
Preferred Stock [Member]    
Available for sale securities, at fair value    
Available for sale securities $ 3,785,161 $ 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 - 3,165,003 and 2016 - 0 shares.
[2] 2017 -334,997 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.