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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Investments and cash:    
Fixed maturity securities (amortized cost of $100,018,472 at 6/30/2022 and $102,145,223 at 12/31/2021) $ 92,371,500 $ 105,841,543
Other invested assets 3,792,362 3,086,568
Property held for investment, at cost, net of accumulated depreciation of $521,315 at 6/30/2022 and $464,713 at 12/31/2021 5,581,481 5,509,114
Cash and cash equivalents 8,041,975 4,606,378
Total investments and cash 130,912,938 145,432,250
Accrued investment income 707,190 659,413
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $100,000 at 6/30/2022 and 12/31/2021 29,759,983 27,199,804
Ceded unearned premiums 981,211 967,022
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $0 at 6/30/2022 and 12/31/2021 15,526,114 14,521,219
Federal income taxes 3,324,334 195,694
Deferred policy acquisition costs, net 7,156,770 6,538,844
Property and equipment, at cost, net of accumulated depreciation of $6,378,208 at 6/30/2022 and $6,243,055 at 12/31/2021 3,206,245 3,144,218
Other assets 1,327,125 1,343,504
Total assets 192,901,910 200,001,968
Liabilities:    
Unpaid losses and settlement expenses 70,381,083 61,834,809
Unearned premiums 39,512,116 36,212,266
Reinsurance balances payable 813,069 1,368,294
Corporate debt 15,000,000 18,455,342
Accrued expenses 4,640,904 5,441,611
Other liabilities 1,047,109 1,030,870
Total liabilities 131,394,281 125,298,054
Equity:    
Common stock [1] 35,000 35,000
Treasury stock, at cost [2] (3,192,640) (3,155,399)
Additional paid-in capital 32,939,978 32,965,136
Accumulated other comprehensive earnings, net of tax (6,041,174) 2,920,027
Retained earnings 39,993,988 44,282,895
Less: Unearned Employee Stock Ownership Plan shares at cost [3] (2,227,523) (2,343,745)
Total equity 61,507,629 74,703,914
Total liabilities and equity 192,901,910 200,001,968
Common Stocks [Member]    
Investments and cash:    
Stocks at fair value 18,092,308 23,608,197
Preferred Stock [Member]    
Investments and cash:    
Stocks at fair value $ 3,033,312 $ 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 –3,289,558 and 2021 - 3,291,852 shares
[2] 2022 –210,442 shares and 2021 –208,148 shares
[3] 2022 –222,752 shares and 2021 –234,374 shares