Income Taxes (Tables)

6 Months Ended

Jun. 30, 2022

Income Taxes [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

	For the Three-Months Ended
	June 30,
	2022		2021
Provision for income taxes at the statutory federal tax rates	$	(1,100,569)	$	151,435
Increase (reduction) in taxes resulting from:
Dividends received deduction		(11,117)		(7,967)
Tax-exempt interest income		(12,961)		(14,753)
Proration of tax-exempt interest and dividends received deduction		5,828		5,499
Nondeductible expenses		10,119		24,069
Officer life insurance, net		(3,335)		167
Total	$	(1,112,035)	$	158,450

	For the Six-Months Ended
	June 30,
	2022		2021
Provision for income taxes at the statutory federal tax rates	$	(1,144,657)	$	460,532
Increase (reduction) in taxes resulting from:
Dividends received deduction		(22,398)		(16,075)
Tax-exempt interest income		(26,312)		(29,547)
Proration of tax-exempt interest and dividends received deduction		11,798		11,063
Nondeductible expenses		27,411		42,095
Officer life insurance, net		(7,682)		333
Total	$	(1,161,840)	$	468,401