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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Investments and cash:    
Fixed maturity securities (amortized cost - $88,333,116 at 3/31/2019 and $89,252,906 at 12/31/2018) $ 89,927,455 $ 88,981,159
Available-for-sale 13,701,398 11,843,223
Other invested assets 243,200 154,200
Property held for investment, at cost, net of accumulated depreciation of $248,310 at 3/31/2019 and $222,825 at 12/31/2018 3,560,838 3,586,273
Cash and cash equivalents 6,409,153 4,644,784
Total investments and cash 113,842,044 109,209,639
Accrued investment income 681,569 648,321
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $50,000 at 3/31/2019 and 12/31/2018 22,081,040 21,404,344
Ceded unearned premiums 783,694 796,065
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $0 at 3/31/2019 and 12/31/2018 15,108,689 6,735,964
Federal income taxes 1,253,256 1,868,669
Deferred policy acquisition costs, net 5,243,470 5,247,188
Property and equipment, at cost, net of accumulated depreciation of $5,250,364 at 3/31/2019 and $5,099,090 at 12/31/2018 3,229,627 3,332,810
Other assets 1,046,815 1,040,193
Total assets 163,270,204 150,283,193
Liabilities:    
Unpaid losses and settlement expenses 61,017,342 51,447,440
Unearned premiums 29,983,133 29,972,623
Reinsurance balances payable 4,544,231 993,004
Corporate debt 3,484,606 3,484,606
Accrued expenses 2,570,332 4,536,218
Other liabilities 1,217,501 1,256,003
Total liabilities 102,817,145 91,689,894
Equity:    
Common stock [1] 35,000 35,000
Treasury stock, at cost [2] (3,001,395) (2,999,995)
Additional paid-in capital 32,545,836 32,505,423
Accumulated other comprehensive earnings (loss), net of tax 1,259,530 (1,580,976)
Retained earnings 32,603,153 33,680,702
Less: Unearned Employee Stock Ownership Plan shares at cost [3] (2,989,065) (3,046,855)
Total equity 60,453,059 58,593,299
Total liabilities and equity $ 163,270,204 $ 150,283,193
[1] Par value $0.01; authorized: 2019 - 10,000,000 shares and 2018 - 10,000,000 shares; issued: 2019 - 3,500,000 shares and 2018 - 3,500,000 shares; outstanding: 2019 - 3,004,273 and 2018 - 2,992,734 shares.
[2] 22019 - 196,821 shares and 2018 - 196,721 shares
[3] 32019 -298,906 shares and 2018 -304,685 shares