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Income Taxes (Tables)
3 Months Ended
Mar. 31, 2019
Income Taxes [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation



 

 

 

 

 

 



 

 

 

 

 

 



 

For the Three-Months Ended



 

March 31,



 

2019

 

2018

Provision for income taxes at the statutory federal tax rates

 

$

73,025 

 

$

176,615 

Increase (reduction) in taxes resulting from:

 

 

 

 

 

 

Dividends received deduction

 

 

(9,763)

 

 

(8,951)

Tax-exempt interest income

 

 

(23,166)

 

 

(36,323)

Proration of tax exempt interest and dividends received deduction

 

 

8,232 

 

 

11,079 

Officer life insurance, net

 

 

3,578 

 

 

3,229 

Nondeductible expenses

 

 

7,087 

 

 

14,423 

Prior year true-ups and other

 

 

 —

 

 

5,126 

Total

 

$

58,993 

 

$

165,198