XML 85 R70.htm IDEA: XBRL DOCUMENT v3.8.0.1
Schedule II - Condensed Financial Information of Registrant (Statement of Cash Flows) (Details) - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash Flows From Operating Activities    
Net earnings $ 707,851 $ 2,810,397
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities    
Net realized investment gains (1,064,577) (249,923)
Depreciation 822,621 817,774
Deferred income tax 175,085 190,903
Amortization of bond premium and discount 334,150 246,470
Change in:    
Accrued investment income (163,297) 56,630
Accrued expenses (553,040) 730,852
Current federal income tax (423,895) 623,954
Other 472,340 1,266,466
Net cash provided by operating activities 734,669 4,591,750
Purchases of:    
Fixed maturity securities, available-for-sale (32,572,815) (10,410,051)
Property and equipment (532,374) (856,504)
Proceeds from sales, maturities and calls of:    
Fixed maturity securities, available-for-sale 7,431,133 11,437,484
Net cash used in investing activities (27,874,326) (1,602,062)
Cash flows from financing activities:    
Net proceeds received from issuance of shares of common stock and ESOP expense 29,087,070  
Proceeds from loan 3,499,149 575,000
Repayments of borrowed funds (2,946,890) (839,254)
Net cash (used in) provided by financing activities 29,639,329 (792,352)
Net increase in cash and cash equivalents 2,499,672 2,197,336
Cash and cash equivalents at beginning of year 4,376,847 2,179,511
Cash and cash equivalents at end of period 6,876,519 4,376,847
Supplemental information:    
Federal income tax paid 600,000 300,000
Interest paid 192,197 225,964
Parent Company [Member]    
Cash Flows From Operating Activities    
Net earnings 707,851  
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities    
Net realized investment gains (141,902)  
Depreciation 3,160  
Deferred income tax (85,676)  
Equity in undistributed (income) loss of subsidiaries (1,392,868)  
Amortization of bond premium and discount 22,566  
Change in:    
Due from subsidiaries (115,650)  
Accrued investment income 6,640  
Accrued expenses 79,261  
Current federal income tax 103,439  
Other (31,787)  
Net cash provided by operating activities (844,966)  
Cash flows from investing activities:    
Contributions to subsidiaries (26,330,618)  
Purchases of:    
Fixed maturity securities, available-for-sale (8,280,927)  
Common stocks, available-for-sale (1,566,247)  
Property and equipment (28,407)  
Proceeds from sales, maturities and calls of:    
Fixed maturity securities, available-for-sale 5,762,299  
Common stocks, available-for-sale 665,397  
Net cash used in investing activities (29,778,503)  
Cash flows from financing activities:    
Net proceeds received from issuance of shares of common stock and ESOP expense 28,719,340  
Proceeds from loan 3,499,149  
Repayments of borrowed funds (3,041)  
Net cash (used in) provided by financing activities 32,215,448  
Net increase in cash and cash equivalents 1,591,979  
Cash and cash equivalents at beginning of year  
Cash and cash equivalents at end of period 1,591,979
Supplemental information:    
Federal income tax paid  
Interest paid $ 65,276