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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Investments and cash:    
Fixed maturity securities (amortized cost - $105,311,993 at 6/30/2021 and $98,753,027 at 12/31/2020) $ 110,849,488 $ 105,740,566
Other invested assets 1,580,837 1,772,867
Property held for investment, at cost, net of accumulated depreciation of $408,351 at 6/30/2021 and $465,364 at 12/31/2020 5,003,116 5,399,826
Cash and cash equivalents 3,998,488 6,598,842
Total investments and cash 143,130,261 135,920,807
Accrued investment income 656,211 660,793
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $150,000 at 6/30/2021 and 12/31/2020 24,859,066 23,506,171
Ceded unearned premiums 943,245 860,905
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $0 at 6/30/2021 and 12/31/2020 15,917,703 13,019,865
Federal income taxes 193,911 372,986
Deferred policy acquisition costs, net 6,081,798 5,429,620
Property and equipment, at cost, net of accumulated depreciation of $6,038,689 at 6/30/2021 and $6,079,728 at 12/31/2020 3,080,594 2,860,331
Other assets 1,246,916 1,307,794
Total assets 196,109,705 183,939,272
Liabilities:    
Unpaid losses and settlement expenses 63,858,229 61,575,666
Unearned premiums 33,400,351 29,788,834
Reinsurance balances payable 841,328 371,195
Corporate debt 18,460,329 13,465,574
Accrued expenses 3,863,743 3,472,511
Income taxes - deferred 1,194,709 1,231,271
Other liabilities 998,843 1,290,532
Total liabilities 122,617,532 111,195,583
Equity:    
Common stock [1] 35,000 35,000
Treasury stock, at cost [2] (3,108,653) (3,153,838)
Additional paid-in capital 32,788,441 32,780,436
Accumulated other comprehensive earnings, net of tax 4,374,556 5,520,091
Retained earnings 41,864,722 40,140,115
Less: Unearned Employee Stock Ownership Plan shares at cost [3] (2,461,893) (2,578,115)
Total equity 73,492,173 72,743,689
Total liabilities and equity 196,109,705 183,939,272
Common Stocks [Member]    
Investments and cash:    
Stocks at fair value 20,013,057 14,724,814
Preferred Stock [Member]    
Investments and cash:    
Stocks at fair value $ 1,685,275 $ 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 –3,294,623 and 2020 - 3,291,125 shares.
[2] 2021 –205,377 shares and 2020 –208,875 shares
[3] 2021 –246,189 shares and 2020 –257,811 shares