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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Investments:    
Fixed maturity securities, available for sale, at estimated fair value (amortized cost of $380,283,562 and $362,750,511 for 2023 and 2022, respectively; net of allowance for credit losses of $211,500 and nil for 2023 and 2022, respectively) $ 356,448,259 $ 345,858,492
Equity securities at estimated fair value (cost of $10,470,974 and $9,942,265 for 2023 and 2022, respectively) 12,309,544 11,682,526
Mortgage loans held for investment (net of allowance for credit losses of $2,612,944 and $1,970,311 for 2023 and 2022, respectively) 249,307,098 308,123,927
Real estate held for investment (net of accumulated depreciation of $28,516,470 and $23,793,204 for 2023 and 2022, respectively) 184,691,463 191,328,616
Real estate held for sale 4,764,367 11,161,582
Other investments and policy loans (net of allowance for credit losses of $1,555,261 and $1,609,951 for 2023 and 2022, respectively) 66,253,417 70,508,156
Accrued investment income 12,266,695 10,299,826
Total investments 886,040,843 948,963,125
Cash and cash equivalents 134,751,854 120,919,805
Loans held for sale at estimated fair value 152,546,566 141,179,620
Receivables (net of allowance for credit losses of $1,520,801 and $2,229,791 for 2023 and 2022, respectively) 15,498,951 28,573,092
Restricted assets (including $7,847,136 and $6,565,552 for 2023 and 2022 respectively, at estimated fair value; net of allowance for credit losses of $2,232 and nil for 2023 and 2022, respectively) 19,907,485 18,935,055
Cemetery perpetual care trust investments (including $4,223,197 and $3,859,893 for 2023 and 2022, respectively, at estimated fair value; net of allowance for credit losses of $3,933 and nil for 2023 and 2022, respectively) 7,640,990 7,276,210
Receivable from reinsurers 14,764,228 15,033,938
Cemetery land and improvements 9,068,760 9,101,474
Deferred policy and pre-need contract acquisition costs 114,422,565 108,655,128
Mortgage servicing rights, net 3,494,723 3,039,765
Property and equipment, net 19,580,298 20,579,649
Value of business acquired 8,922,400 9,803,736
Goodwill 5,253,783 5,253,783
Other 21,878,789 23,798,512
Total Assets 1,413,772,235 1,461,112,892
Liabilities    
Future policy benefits and unpaid claims 908,917,966 889,327,303
Unearned premium reserve 2,611,873 2,773,616
Bank and other loans payable 108,431,028 161,712,804
Deferred pre-need cemetery and mortuary contract revenues 17,573,212 16,226,836
Cemetery perpetual care obligation 5,265,166 5,099,542
Accounts payable 2,977,402 5,361,449
Other liabilities and accrued expenses 56,431,051 57,113,888
Income taxes 13,670,993 30,710,527
Total liabilities 1,115,878,691 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 72,190,361 64,767,769
Accumulated other comprehensive loss, net of taxes (18,282,298) (13,070,277)
Retained earnings 204,117,486 202,160,306
Treasury stock at cost - 870,523 Class A shares and 35,717 Class C shares as of September 30, 2023; and 525,870 Class A shares and 34,016 Class C shares as of December 31, 2022 (6,090,935) (4,366,651)
Total stockholders’ equity 297,893,544 292,786,927
Total Liabilities and Stockholders’ Equity 1,413,772,235 1,461,112,892
Common Class A [Member]    
Stockholders’ Equity    
Common Stock, Value 40,015,222 37,516,062
Common Class B [Member]    
Stockholders’ Equity    
Common Stock, Value
Common Class C [Member]    
Stockholders’ Equity    
Common Stock, Value $ 5,943,708 $ 5,779,718