Restricted Assets (Tables)

3 Months Ended

Mar. 31, 2026

Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]

Schedule of Fair Value of Fixed Maturity Securities

		Unrealized Losses for Less than Twelve Months				Fair Value				Unrealized Losses for More than Twelve Months				Fair Value				Total Unrealized Loss				Combined Fair Value
March 31, 2026
U.S. Treasury securities and obligations of U.S. Government agencies		$	47,025			$	12,992,660			$	58,741			$	1,581,809			$	105,766			$	14,574,469
Obligations of states and political subdivisions			3,152				196,848				177,559				2,081,355				180,711				2,278,203
Corporate securities including public utilities			1,423,738				76,810,812				3,105,700				37,427,064				4,529,438				114,237,876
Mortgage-backed securities			12,324				973,482				3,595,185				16,667,312				3,607,509				17,640,794
Redeemable preferred stock			37,500				212,500				-				-				37,500				212,500
Totals		$	1,523,739			$	91,186,302			$	6,937,185			$	57,757,540			$	8,460,924			$	148,943,842

December 31, 2025
U.S. Treasury securities and obligations of U.S. Government agencies		$	2,591			$	2,047,280			$	86,959			$	11,033,603			$	89,550			$	13,080,883
Obligations of states and political subdivisions			4,884				195,116				167,300				2,095,220				172,184				2,290,336
Corporate securities including public utilities			638,436				30,085,561				2,749,214				42,688,720				3,387,650				72,774,281
Mortgage-backed securities			4,353				192,242				3,548,862				17,504,265				3,553,215				17,696,507
Redeemable preferred stock			37,500				212,500				-				-				37,500				212,500
Totals		$	687,764			$	32,732,699			$	6,552,335			$	73,321,808			$	7,240,099			$	106,054,507

Schedule of Investments Classified by Contractual Maturity Date

The table below presents the amortized cost and the estimated fair value of fixed maturity securities available for sale as of March 31, 2026, by contractual maturity. Actual or expected maturities may differ from contractual maturities because certain securities afford the issuer the right to call or prepay their obligations.

		Amortized Cost				Estimated Fair Value
Due in 1 year		$	19,665,703			$	19,641,777
Due in 2-5 years			129,855,952				130,217,565
Due in 5-10 years			130,676,874				131,821,597
Due in more than 10 years			67,262,583				65,478,295
Mortgage-backed securities			23,391,046				19,686,991
Redeemable preferred stock			750,000				719,700
Total		$	371,602,158			$	367,565,925

Restricted Assets [Member]

Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]

Schedule of Restricted Assets in Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds

Restricted assets as of March 31, 2026, are summarized as follows:

		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
March 31, 2026:
Fixed maturity securities, available for sale, at estimated fair value:
U.S. Treasury securities and obligations of U.S. Government agencies		$	269,363			$	-			$	-			$	269,363
Obligations of states and political subdivisions			229,553				125				(2,003	)			227,675
Corporate securities including public utilities			51,481				-				(487	)			50,994
Total fixed maturity securities available for sale		$	550,397			$	125			$	(2,490	)		$	548,032

Equity securities at estimated fair value:
Common stock:
Industrial, miscellaneous and all other		$	14,065,145			$	2,724,027			$	(504,294	)		$	16,284,878
Total equity securities at estimated fair value		$	14,065,145			$	2,724,027			$	(504,294	)		$	16,284,878

Mortgage loans held for investment at amortized cost:
Residential construction		$	788,778
Less: Allowance for credit losses			(1,578	)
Total mortgage loans held for investment		$	787,200

Other investments		$	1,654,250

Cash and cash equivalents (1)		$	10,659,181

Accrued investment income		$	20,092

Total restricted assets		$	29,953,633

(1)

Including cash and cash equivalents of $8,965,571 for the life insurance and mortgage segments.

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

March 31, 2026 (Unaudited)

5) Restricted Assets (Continued)

Restricted assets as of December 31, 2025, are summarized as follows:

		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
December 31, 2025:
Fixed maturity securities, available for sale, at estimated fair value:
U.S. Treasury securities and obligations of U.S. Government agencies		$	895,817			$	1,735			$	-			$	897,552
Obligations of states and political subdivisions			228,512				124				(8	)			228,628
Corporate securities including public utilities			52,030				-				(959	)			51,071
Total fixed maturity securities available for sale		$	1,176,359			$	1,859			$	(967	)		$	1,177,251

Equity securities at estimated fair value:
Common stock:
Industrial, miscellaneous and all other		$	12,582,890			$	2,690,346			$	(344,319	)		$	14,928,917
Total equity securities at estimated fair value		$	12,582,890			$	2,690,346			$	(344,319	)		$	14,928,917

Mortgage loans held for investment at amortized cost:
Residential construction		$	812,427
Less: Allowance for credit losses			(1,625	)
Total mortgage loans held for investment		$	810,802

Other investments		$	1,957,888

Cash and cash equivalents (1)		$	9,919,800

Accrued investment income		$	11,288

Total restricted assets		$	28,805,946

(1)

Including cash and cash equivalents of $8,383,847 for the life insurance and mortgage segments.

Schedule of Fair Value of Fixed Maturity Securities

The table below summarizes unrealized losses on fixed maturity securities available for sale that were carried at estimated fair value as of March 31, 2026, and December 31, 2025. The tables set forth unrealized losses by duration with the fair value of the related fixed maturity securities.

		Unrealized Losses for Less than Twelve Months				Fair Value				Unrealized Losses for More than Twelve Months				Fair Value				Total Unrealized Loss				Fair Value
At March 31, 2026
Obligations of states and political subdivisions		$	-			$	-			$	2,003			$	102,549			$	2,003			$	102,549
Corporate securities including public utilities			-				-				487				50,995				487				50,995
Total unrealized losses		$	-			$	-			$	2,490			$	153,544			$	2,490			$	153,544

At December 31, 2025
Obligations of states and political subdivisions		$	-			$	-			$	8			$	103,504			$	8			$	103,504
Corporate securities including public utilities			-				-				959				51,071				959				51,071
Total unrealized losses		$	-			$	-			$	967			$	154,575			$	967			$	154,575

Schedule of Investments Classified by Contractual Maturity Date

The table below presents the amortized cost and estimated fair value of fixed maturity securities available for sale as of March 31, 2026, by contractual maturity. Actual or expected maturities may differ from contractual maturities because certain securities afford the issuer the right to call or prepay their obligations.

		Amortized				Estimated Fair
		Cost				Value
Due in 1 year		$	319,363			$	319,376
Due in 2-5 years			-				-
Due in 5-10 years			75,000				75,112
Due in more than 10 years			156,034				153,544
Total		$	550,397			$	548,032