XML 14 R2.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Investments and cash:    
Fixed maturity securities (amortized cost - $97,695,883 at 3/31/2021 and $98,753,027 at 12/31/2020) $ 101,865,040 $ 105,740,566
Other invested assets 1,777,792 1,772,867
Property held for investment, at cost, net of accumulated depreciation of $464,847 at 3/31/2021 and $465,364 at 12/31/2020 5,148,152 5,399,826
Cash and cash equivalents 5,556,479 6,598,842
Total investments and cash 134,406,160 135,920,807
Accrued investment income 700,153 660,793
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $150,000 at 3/31/2021 and 12/31/2020 22,598,051 23,506,171
Ceded unearned premiums 861,914 860,905
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $0 at 3/31/2021 and 12/31/2020 14,011,159 13,019,865
Federal income taxes 338,908 372,986
Deferred policy acquisition costs, net 5,721,277 5,429,620
Property and equipment, at cost, net of accumulated depreciation of $6,196,657 at 3/31/2021 and $6,079,728 at 12/31/2020 2,818,244 2,860,331
Other assets 1,287,738 1,307,794
Total assets 182,743,604 183,939,272
Liabilities:    
Unpaid losses and settlement expenses 61,807,968 61,575,666
Unearned premiums 30,467,894 29,788,834
Reinsurance balances payable 347,506 371,195
Corporate debt 13,462,614 13,465,574
Accrued expenses 3,021,753 3,472,511
Income taxes - deferred 910,957 1,231,271
Other liabilities 944,113 1,290,532
Total liabilities 110,962,805 111,195,583
Equity:    
Common stock [1] 35,000 35,000
Treasury stock, at cost [2] (3,095,065) (3,153,838)
Additional paid-in capital 32,765,565 32,780,436
Accumulated other comprehensive earnings, net of tax 3,293,569 5,520,091
Retained earnings 41,302,055 40,140,115
Less: Unearned Employee Stock Ownership Plan shares at cost [3] (2,520,325) (2,578,115)
Total equity 71,780,799 72,743,689
Total liabilities and equity 182,743,604 183,939,272
Common Stocks [Member]    
Investments and cash:    
Stocks at fair value 18,404,167 14,724,814
Preferred Stock [Member]    
Investments and cash:    
Stocks at fair value $ 1,654,530 $ 1,683,892
[1] Par value $0.01; authorized: 2021 - 10,000,000 shares and 2020 - 10,000,000 shares; issued: 2021 - 3,500,000 shares and 2020 - 3,500,000 shares; outstanding: 2021 - 3,295,255 and 2020 - 3,291,125 shares.
[2] 2021 - 204,745 shares and 2020 - 208,875 shares
[3] 2021 -252,032 shares and 2020 -257,811 shares