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Note 6: Bank and Other Loans Payable: Summary of Bank Loans Payable (Tables)
12 Months Ended
Dec. 31, 2012
Tables/Schedules  
Summary of Bank Loans Payable

 

 

 

 December 31

 

2012

2011

6.34% note payable in monthly installments of $13,556    including principal and interest, collateralized by real    property with a book value of approximately $498,000,    due November 2017.

           748,612

           877,707

5.75% note payable in monthly installments of $28,271 including    principal and interest, collateralized by real property with a book    value of approximately $6,450,000 due December 2014.

         3,643,192

         3,769,012

Bank prime rate less .75% (2.50% at December 31, 2012) note payable in    quarterly installments of $75,000 plus interest collateralized by shares    of Security National Life Insurance Company Stock, due September 2013. 

           225,000

           525,000

Mark to market of interest rate swaps (discussed below) adjustment

             93,572

           117,812

3.85% note payable in monthly installments of $79,468 including     principal and interest, collateralized by shares of Security National     Life Insurance Company Stock, due June 2015.

         2,258,968

         3,105,965

Revolving line-of-credit, interest payable at the variable overnight    Libor rate plus 2% (2.1875% as of December 31, 2012),    secured by bond investments of the Company,  matures June 2013.

                   -  

       15,000,000

Revolving line-of-credit, interest payable at the prime rate minus .75%     (2.5% as of December 31, 2012) secured by shares of Security    National Life Insurance Company Stock, matures June 2013.

         4,608,204

         1,400,000

Other collateralized bank loans payable

           331,834

           222,662

Other notes payable

                 961

                 961

Total bank and other loans

       11,910,343

       25,019,119

Less current installments

         6,266,765

       18,018,145

Bank and other loans, excluding current installments

 $

         5,643,578

 $

         7,000,974