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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Available for sale securities, at fair value    
Fixed maturity securities (amortized cost - $89,877,704 at 3/31/2018 and $87,773,047 at 12/31/2017) $ 90,042,265 $ 89,605,073
Available-for-sale 12,533,554 12,401,538
Other invested assets 139,200  
Property held for investment, at cost, net of accumulated depreciation of $150,200 at 3/31/2018 and $50,948 at 12/31/2017 3,142,229 3,126,566
Cash and cash equivalents 1,523,380 6,876,519
Total investments and cash 107,380,628 112,009,696
Accrued investment income 703,801 687,453
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $50,000 at 3/31/2018 and 12/31/2017 19,934,301 19,013,262
Ceded unearned premiums 494,023 274,972
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $0 at 3/31/2018 and 12/31/2017 9,764,338 10,029,834
Federal income taxes 1,465,640 922,405
Deferred policy acquisition costs, net 4,519,590 4,592,415
Property and equipment, at cost, net of accumulated depreciation of $4,691,231 at 3/31/2018 and $4,896,042 at 12/31/2017 3,516,809 3,503,904
Other assets 1,283,522 1,301,420
Total assets 149,062,652 152,335,361
Liabilities:    
Unpaid losses and settlement expenses 51,444,103 51,074,126
Unearned premiums 27,451,191 26,555,582
Reinsurance balances payable 683,077 327,483
Corporate debt 3,491,077 4,339,208
Accrued expenses 2,471,516 4,274,002
Other liabilities 1,214,858 1,663,415
Total liabilities 86,755,822 88,233,816
Equity:    
Common stock [1] 35,000 35,000
Additional paid-in capital 32,371,876 32,333,290
Accumulated other comprehensive earnings, net of tax (340,008) 2,227,069
Retained earnings 33,463,233 32,787,406
Less: Unearned Employee Stock Ownership Plan shares at cost [2] (3,223,271) (3,281,220)
Total equity 62,306,830 64,101,545
Total liabilities and equity 149,062,652 152,335,361
Common Stock [Member]    
Available for sale securities, at fair value    
Available-for-sale [3] 12,467,829 8,534,109
Preferred Stock [Member]    
Available for sale securities, at fair value    
Available-for-sale $ 65,725 $ 3,867,429
[1] Par value $0.01; authorized: 2018 - 10,000,000 shares and 2017 - 10,000,000 shares; issued: 2018 - 3,500,000 shares and 2017 - 3,500,000 shares; outstanding: 2018 - 3,177,672 and 2017 - 3,171,878 shares.
[2] 2018 -322,328 shares and 2017 - 328,122 shares
[3] At March 31, 2018, common stock securities consist entirely of individual common stocks. At December 31, 2017, common stock consisted of exchange trade funds (ETF) made up primarily of Dividends Select and the S&P 500.