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3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Tables)
 9 Months Ended
Sep. 30, 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

September 30, 2017

Allowance for credit losses:

Beginning balance - January 1, 2017

$        187,129

$     1,461,540

$        100,114

$     1,748,783

   Charge-offs

                       -

            (49,775)

            (64,894)

          (114,669)

   Provision

                       -

           417,704

                       -

           417,704

Ending balance - September 30, 2017

$        187,129

$     1,829,469

$          35,220

$     2,051,818

Ending balance: individually evaluated for impairment

 $                    -

$        411,172

 $                    -

$        411,172

Ending balance: collectively evaluated for impairment

$        187,129

$     1,418,297

$          35,220

$     1,640,646

Mortgage loans:

Ending balance

$   42,923,761

$   65,759,761

$   41,306,722

$ 149,990,244

Ending balance: individually evaluated for impairment

$        203,806

$     5,425,757

$                    -

$     5,629,563

Ending balance: collectively evaluated for impairment

$   42,719,955

$   60,334,004

$   41,306,722

$ 144,360,681

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

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