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ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)
 6 Months Ended
Jun. 30, 2013
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of beginning and ending balances of accumulated other comprehensive income
The following table reconciles, by component, the beginning and ending balances of accumulated other comprehensive income.
 
 
Accumulated other comprehensive income by component (1)
 
 
Unrealized
gains (losses) on
available-for-
sale securities
 
Unrecognized
pension and
postretirement
benefit obligations
 
Total
Balance at December 31, 2012
 
$
69,805,305

 
$
(22,052,930
)
 
$
47,752,375

Other comprehensive income (loss) before reclassifications
 
(17,107,369
)
 
—

 
(17,107,369
)
Amounts reclassified from accumulated other comprehensive income
 
(1,848,032
)
 
710,613

 
(1,137,419
)
Other comprehensive income (loss)
 
(18,955,401
)
 
710,613

 
(18,244,788
)
Balance at June 30, 2013
 
$
50,849,904

 
$
(21,342,317
)
 
$
29,507,587

(1)
All amounts are net of tax.  Amounts in parentheses indicate debits.
Amounts reclassified out of accumulated other comprehensive income (loss)
The following table displays amounts reclassified out of accumulated other comprehensive income (loss) during the three and six months ended June 30, 2013.
 
 
Amounts reclassified from accumulated other comprehensive income (loss) (1)
 
 
Accumulated other comprehensive
income (loss) components
 
Three months ended 
 June 30, 2013
 
Six months ended 
 June 30, 2013
 
Affected line item in the
consolidated statements
of income
Unrealized gains on investments:
 
 
 
 
 
 
Reclassification adjustment for realized investment gains included in net income
 
$
175,253

 
$
2,843,126

 
Net realized investment gains (losses)
Deferred income tax expense
 
(61,339
)
 
(995,094
)
 
Income tax expense (benefit), current
Net reclassification adjustment
 
113,914

 
1,848,032

 
 
 
 
 
 
 
 
 
Unrecognized pension and postretirement benefit obligations:
 
 
 
 
 
 
Reclassification adjustment for amounts amortized into net periodic pension and postretirement benefit cost:
 
 
 
 
 
 
Net actuarial loss
 
(731,022
)
 
(1,447,340
)
 
(2)
Prior service credit
 
177,045

 
354,090

 
(2)
Total before tax
 
(553,977
)
 
(1,093,250
)
 
 
Deferred income tax expense
 
193,891

 
382,637

 
Income tax expense (benefit), current
Net reclassification adjustment
 
(360,086
)
 
(710,613
)
 
 
 
 
 
 
 
 
 
Total reclassification adjustment
 
$
(246,172
)
 
$
1,137,419

 
 
(1)
Amounts in parentheses indicate debits to net income
(2)
These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement benefit costs (see Note 6, Employee Retirement Plans, for additional details).