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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Investments:    
Fixed maturity securities, available for sale, at estimated fair value (amortized cost of $371,731,265 and $362,750,511 for 2023 and 2022, respectively; allowance for credit losses of $224,005 and nil for 2023 and 2022, respectively) $ 354,789,812 $ 345,858,492
Equity securities at estimated fair value (cost of $10,416,580 and $9,942,265 for 2023 and 2022, respectively) 12,801,925 11,682,526
Mortgage loans held for investment (net of allowance for credit losses of $2,663,560 and $1,970,311 for 2023 and 2022, respectively) 271,049,585 308,123,927
Real estate held for investment (net of accumulated depreciation of $26,941,328 and $23,793,204 for 2023 and 2022, respectively) 180,962,902 191,328,616
Real estate held for sale 1,827,474 11,161,582
Other investments and policy loans (net of allowance for credit losses of $1,690,693 and $1,609,951 for 2023 and 2022, respectively) 64,554,148 70,508,156
Accrued investment income 10,188,551 10,299,826
Total investments 896,174,397 948,963,125
Cash and cash equivalents 110,285,941 120,919,805
Loans held for sale at estimated fair value 161,310,060 141,179,620
Receivables (net of allowance for credit losses of $1,492,934 and $2,229,791 for 2023 and 2022, respectively) 11,675,595 28,573,092
Restricted assets (including $7,780,162 and $6,565,552 for 2023 and 2022 respectively, at estimated fair value; allowance for credit losses of $2,760 and nil for 2023 and 2022, respectively) 19,434,263 18,935,055
Cemetery perpetual care trust investments (including $4,315,932 and $3,859,893 for 2023 and 2022 respectively, at estimated fair value; allowance for credit losses of $1,453 and nil for 2023 and 2022, respectively) 7,666,221 7,276,210
Receivable from reinsurers 14,839,279 15,033,938
Cemetery land and improvements 9,033,600 9,101,474
Deferred policy and pre-need contract acquisition costs 111,733,330 108,655,128
Mortgage servicing rights, net 3,442,352 3,039,765
Property and equipment, net 19,932,664 20,579,649
Value of business acquired 9,393,595 9,803,736
Goodwill 5,253,783 5,253,783
Other 23,431,668 23,798,512
Total Assets 1,403,606,748 1,461,112,892
Liabilities    
Future policy benefits and unpaid claims 901,792,172 889,327,303
Unearned premium reserve 2,658,492 2,773,616
Bank and other loans payable 103,301,721 161,712,804
Deferred pre-need cemetery and mortuary contract revenues 17,155,722 16,226,836
Cemetery perpetual care obligation 5,207,198 5,099,542
Accounts payable 3,215,659 5,361,449
Other liabilities and accrued expenses 56,073,488 57,113,888
Income taxes 15,439,539 30,710,527
Total liabilities 1,104,843,991 1,168,325,965
Stockholders’ Equity    
Preferred Stock - non-voting - $1.00 par value; 5,000,000 shares authorized; none issued or outstanding
Additional paid-in capital 71,685,665 64,767,769
Accumulated other comprehensive loss, net of taxes (12,894,771) (13,070,277)
Retained earnings 200,078,709 202,160,306
Treasury stock at cost - 849,005 Class A shares and 35,717 Class C shares as of June 30, 2023; and 525,870 Class A shares and 34,016 Class C shares as of December 31, 2022 (5,841,350) (4,366,651)
Total stockholders’ equity 298,762,757 292,786,927
Total Liabilities and Stockholders’ Equity 1,403,606,748 1,461,112,892
Common Class A [Member]    
Stockholders’ Equity    
Common Stock , Value 39,787,400 37,516,062
Common Class B [Member]    
Stockholders’ Equity    
Common Stock , Value
Common Class C [Member]    
Stockholders’ Equity    
Common Stock , Value $ 5,947,104 $ 5,779,718