7) Bank and Other Loans Payable: Summary of Bank Loans Payable (Tables)

12 Months Ended

Dec. 31, 2019

Tables/Schedules

Summary of Bank Loans Payable

	December 31
	2019	2018
2.25% above the monthly LIBOR rate plus 1/16th of the monthly LIBOR rate note payable in monthly principal payments of $13,167 plus interest, collateralized by real property with a book value of approximately $4,244,000, due September 2021.	$     2,659,769	$    2,817,775
4.27% fixed note payable in monthly installments of $53,881 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due December 2021.	1,238,619	1,817,905
Prime rate note payable in monthly installments of $75,108 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due December 2024.	4,000,000	-
4.40% fixed note payable in monthly installments of $46,825 including principal and interest, collateralized by real property with a book value of approximately $12,923,000, due January 2026.	7,247,651	7,492,140
4.329% fixed note payable in monthly installments of $9,775 including principal and interest, collateralized by real property with a book value of approximately $3,261,000, due September 2025.	1,896,450	1,929,725
2.5% above the monthly LIBOR rate plus 1/16th of the monthly LIBOR rate construction loan payable in monthly principal payments of $113,000 plus interest, collateralized by real property with a book value of approximately $49,378,000, due August 2020.	33,811,559	30,796,861
4.7865% fixed interest only note payable in monthly installments, collateralized by real property with a book value of approximately $18,009,000, due June 2028.	9,200,000	9,200,000
1 month LIBOR rate plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures June 2020.	88,509,536	60,438,156
1 month LIBOR rate plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures September 2020.	67,537,600	25,680,649
Other short-term borrowings (1)	1,250,000	47,250,000
Finance lease liabilities	153,439	-
Other loans payable	67,989	97,977
Total bank and other loans	217,572,612	187,521,188
Less current installments	192,985,602	165,219,632
Bank and other loans, excluding current installments	$   24,587,010	$  22,301,556
(1) Federal Home Loan Bank and Revolving Lines of Credit