Income Taxes (Tables)

6 Months Ended

Jun. 30, 2021

Income Taxes [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

	For the Three-Months Ended
	June 30,
	2021		2020
Provision for income taxes at the statutory federal tax rates	$	151,435	$	205,528
Increase (reduction) in taxes resulting from:
Dividends received deduction		(7,967)		(7,161)
Tax-exempt interest income		(14,753)		(15,784)
Proration of tax-exempt interest and dividends received deduction		5,499		5,600
Nondeductible expenses		24,069		8,725
Officer life insurance, net		167		(170)
Total	$	158,450	$	196,738

	For the Six-Months Ended
	June 30,
	2021		2020
Provision for income taxes at the statutory federal tax rates	$	460,532	$	(321,768)
Increase (reduction) in taxes resulting from:
Dividends received deduction		(16,075)		(13,696)
Tax-exempt interest income		(29,547)		(31,264)
Proration of tax-exempt interest and dividends received deduction		11,063		10,968
Nondeductible expenses		42,095		14,228
Officer life insurance, net		333		633
Total	$	468,401	$	(340,899)