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3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Tables)
 3 Months Ended
Mar. 31, 2017
Tables/Schedules  
Schedule of Allowance for loan losses as a contra-asset account

 

Allowance for Credit Losses and Recorded Investment in Mortgage Loans

 

Commercial

Residential

Residential Construction

Total

March 31, 2017

Allowance for credit losses:

Beginning balance - January 1, 2017

$187,129

$1,461,540

$100,114

$1,748,783

   Charge-offs

 -

(16,226)

 -

(16,226)

   Provision

 -

222,886

 -

222,886

Ending balance -March 31, 2017

$187,129

$1,668,200

$100,114

$1,955,443

Ending balance: individually evaluated for impairment

 $-

$423,487

 $-

$423,487

Ending balance: collectively evaluated for impairment

$187,129

$1,244,713

$100,114

$1,531,956

Ending balance: loans acquired with deteriorated credit quality

 $-

 $-

 $-

 $-

Mortgage loans:

Ending balance

$37,532,001

$64,629,906

$33,917,309

$136,079,216

Ending balance: individually evaluated for impairment

$203,264

$4,842,306

$484,196

$5,529,766

Ending balance: collectively evaluated for impairment

$37,328,737

$59,787,600

$33,433,113

$130,549,450

Ending balance: loans acquired with deteriorated credit quality

 $-

 $-

 $-

 $-

 

December 31, 2016

Allowance for credit losses:

Beginning balance - January 1, 2016

$187,129

$1,560,877

$100,114

$1,848,120

   Charge-offs

 -

(420,135)

 -

(420,135)

   Provision

 -

320,798

 -

320,798

Ending balance - December 31, 2016

$187,129

$1,461,540

$100,114

$1,748,783

Ending balance: individually evaluated for impairment

 $-

$374,501

 $-

$374,501

Ending balance: collectively evaluated for impairment

$187,129

$1,087,039

$100,114

$1,374,282

Ending balance: loans acquired with deteriorated credit quality

 $-

 $-

 $-

 $-

Mortgage loans:

Ending balance

$51,536,622

$58,593,622

$40,800,117

$150,930,361

Ending balance: individually evaluated for impairment

$202,992

$2,916,538

$64,895

$3,184,425

Ending balance: collectively evaluated for impairment

$51,333,630

$55,677,084

$40,735,222

$147,745,936

Ending balance: loans acquired with deteriorated credit quality

 $-

 $-

 $-

 $-