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3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Tables)
 9 Months Ended
Sep. 30, 2016
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, 2016

Allowance for credit losses:

Beginning balance - January 1, 2016

 $        187,129

 $     1,560,877

 $        100,114

 $     1,848,120

   Charge-offs

                       -

          (210,890)

                       -

          (210,890)

   Provision

                       -

           594,132

                       -

           594,132

Ending balance -September 30, 2016

 $        187,129

 $     1,944,119

 $        100,114

 $     2,231,362

Ending balance: individually evaluated for impairment

 $                    -

 $        437,338

 $                    -

 $        437,338

Ending balance: collectively evaluated for impairment

 $        187,129

 $     1,506,781

 $        100,114

 $     1,794,024

Ending balance: loans acquired with deteriorated credit quality

 $                    -

 $                    -

 $                    -

 $                    -

Mortgage loans:

Ending balance

 $   39,747,671

 $   50,346,379

 $   42,011,069

 $ 132,105,119

Ending balance: individually evaluated for impairment

 $        202,721

 $     2,911,050

 $        403,000

 $     3,516,771

Ending balance: collectively evaluated for impairment

 $   39,544,950

 $   47,435,329

 $   41,608,069

 $ 128,588,348

Ending balance: loans acquired with deteriorated credit quality

 $                    -

 $                    -

 $                    -

 $                    -

December 31, 2015

Allowance for credit losses:

Beginning balance - January 1, 2015

 $        187,129

 $     1,715,812

 $        100,114

 $     2,003,055

   Charge-offs

                       -

          (123,942)

                       -

          (123,942)

   Provision

                       -

            (30,993)

                       -

            (30,993)

Ending balance - December 31, 2015

 $        187,129

 $     1,560,877

 $        100,114

 $     1,848,120

Ending balance: individually evaluated for impairment

 $                    -

 $        305,962

 $                    -

 $        305,962

Ending balance: collectively evaluated for impairment

 $        187,129

 $     1,254,915

 $        100,114

 $     1,542,158

Ending balance: loans acquired with deteriorated credit quality

 $                    -

 $                    -

 $                    -

 $                    -

Mortgage loans:

Ending balance

 $   33,522,978

 $   46,020,490

 $   34,851,557

 $ 114,395,025

Ending balance: individually evaluated for impairment

 $                    -

 $     3,087,161

 $          93,269

 $     3,180,430

Ending balance: collectively evaluated for impairment

 $   33,522,978

 $   42,933,329

 $   34,758,287

 $ 111,214,594

Ending balance: loans acquired with deteriorated credit quality

 $                    -

 $                    -

 $                    -

 $                    -