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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Investments and cash:    
Fixed maturity securities (amortized cost of $104,466,061 at 3/31/2022 and $102,145,223 at 12/31/2021) $ 101,872,420 $ 105,841,543
Other invested assets 3,175,674 3,086,568
Property held for investment, at cost, net of accumulated depreciation of $504,718 at 3/31/2022 and $464,713 at 12/31/2021 5,871,484 5,509,114
Cash and cash equivalents 4,580,287 4,606,378
Total investments and cash 141,153,016 145,432,250
Accrued investment income 726,561 659,413
Property held for investment, at cost, net of accumulated depreciation of $504,718 at 3/31/2022 and $464,713 at 12/31/2021 27,410,129 27,199,804
Ceded unearned premiums 948,000 967,022
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $0 at 3/31/2022 and 12/31/2021 16,088,694 14,521,219
Federal income taxes 631,825 195,694
Deferred policy acquisition costs, net 7,156,770 6,538,844
Property and equipment, at cost, net of accumulated depreciation of $6,302,395 at 3/31/2022 and $6,243,055 at 12/31/2021 3,189,728 3,144,218
Other assets 1,305,288 1,343,504
Total assets 198,610,011 200,001,968
Liabilities:    
Unpaid losses and settlement expenses 67,407,376 61,834,809
Unearned premiums 37,509,068 36,212,266
Reinsurance balances payable 503,656 1,368,294
Corporate debt 18,452,288 18,455,342
Accrued expenses 4,174,785 5,441,611
Income taxes - deferred   954,862
Other liabilities 872,609 1,030,870
Total liabilities 128,919,782 125,298,054
Equity:    
Common stock [1] 35,000 35,000
Treasury stock, at cost [2] (3,122,492) (3,155,399)
Additional paid-in capital 32,989,963 32,965,136
Accumulated other comprehensive earnings, net of tax (2,049,042) 2,920,027
Retained earnings 44,122,755 44,282,895
Less: Unearned Employee Stock Ownership Plan shares at cost [3] (2,285,955) (2,343,745)
Total equity 69,690,229 74,703,914
Total liabilities and equity 198,610,011 200,001,968
Common Stocks [Member]    
Investments and cash:    
Stocks at fair value 22,795,115 23,608,197
Preferred Stock [Member]    
Investments and cash:    
Stocks at fair value $ 2,858,036 $ 2,780,450
[1] Par value $0.01; authorized: 2022 - 10,000,000 shares and 2021 – 10,000,000 shares; issued: 2022 – 3,500,000 shares and 2021 – 3,500,000 shares; outstanding: 2022 –3,293,811 and 2021 - 3,291,852 shares
[2] 2022 –206,189 shares and 2021 –208,148 shares
[3] 2022 –228,595 shares and 2021 –234,374 shares