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INCOME TAXES (Tables)
 9 Months Ended
Sep. 30, 2013
Income Tax Disclosure [Abstract]  
Reconciliation of income tax expense (benefit)
The actual income tax expense for the three and nine months ended September 30, 2013 and 2012 differed from the “expected” income tax expense for those periods (computed by applying the United States federal corporate tax rate of 35 percent to income before income tax expense) as follows:
 
 
Three months ended September 30,
 
Nine months ended September 30,
 
 
2013
 
2012
 
2013
 
2012
Computed "expected" income tax expense
 
$
3,347,703

 
$
3,762,626

 
$
13,307,870

 
$
11,597,894

Increases (decreases) in tax resulting from:
 
 
 
 
 
 
 
 
Tax-exempt interest income
 
(961,018
)
 
(1,099,319
)
 
(2,897,168
)
 
(3,380,796
)
Dividends received deduction
 
(220,365
)
 
(211,218
)
 
(637,405
)
 
(497,663
)
Proration of tax-exempt interest and dividends received deduction
 
187,734

 
196,581

 
540,713

 
581,769

Other, net
 
11,169

 
(219,558
)
 
24,079

 
(132,873
)
Income tax expense
 
$
2,365,223

 
$
2,429,112

 
$
10,338,089

 
$
8,168,331