v3.26.1
Restricted Assets (Tables)
 6 Months Ended
Jun. 30, 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

 
June 30, 2026                              
U.S. Treasury securities and obligations of U.S. Government agencies  $273,354   $32,972,686   $63,913   $1,566,865   $337,267   $34,539,551 
Obligations of states and political subdivisions   3,662    196,338    181,781    2,073,479    185,443    2,269,817 
Corporate securities including public utilities   1,190,106    86,172,801    2,963,067    37,121,227    4,153,173    123,294,028 
Mortgage-backed securities   14,268    993,191    3,369,738    14,700,113    3,384,006    15,693,304 
Redeemable preferred stock   37,500    212,500    -    -    37,500    212,500 
Totals  $1,518,890   $120,547,516   $6,578,499   $55,461,684   $8,097,389   $176,009,200 
                               
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 June 30, 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  $11,711,839   $11,709,904 
Due in 2-5 years   129,271,705    129,040,087 
Due in 5-10 years   140,558,359    141,414,746 
Due in more than 10 years   81,583,435    79,864,745 
Mortgage-backed securities   21,228,233    17,677,668 
Redeemable preferred stock   750,000    721,700 
Total  $385,103,571   $380,428,850 
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 June 30, 2026, are summarized as follows:

 

  

Amortized

Cost

  

Gross

Unrealized

Gains

  

Gross

Unrealized

Losses

  

Estimated Fair

Value

 
June 30, 2026:                    
Fixed maturity securities, available for sale, at estimated fair value:                    
Obligations of states and political subdivisions  $228,584   $104   $(1,630)  $227,058 
Corporate securities including public utilities   51,207    -    (257)   50,950 
Total fixed maturity securities available for sale  $279,791   $104   $(1,887)  $278,008 
                     
Equity securities at estimated fair value:                    
Common stock:                    
Industrial, miscellaneous and all other  $15,013,259   $3,847,895   $(410,089)  $18,451,065 
Total equity securities at estimated fair value  $15,013,259   $3,847,895   $(410,089)  $18,451,065 
                     
Mortgage loans held for investment at amortized cost:                    
Residential construction  $777,490                
Less: Allowance for credit losses   (1,498)               
Total mortgage loans held for investment  $775,992                
                     
Other investments  $1,674,516                
                     
Cash and cash equivalents (1)  $12,065,713               
                     
Accrued investment income  $18,732                
                     
Total restricted assets  $33,264,026                

 

 

(1) Including cash and cash equivalents of $10,215,805 for the life insurance and mortgage segments.

 

 

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

June 30, 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 June 30, 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 June 30, 2026                              
Obligations of states and political subdivisions  $-   $-   $1,630   $101,954   $1,630   $101,954 
Corporate securities including public utilities   -    -    257    50,951    257    50,951 
Total unrealized losses  $-   $-   $1,887   $152,905   $1,887   $152,905 
                               
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 June 30, 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  $125,000   $125,104 
Due in 2-5 years   -    - 
Due in 5-10 years   -    - 
Due in more than 10 years   154,791    152,904 
Total  $279,791   $278,008