Investments (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Investments [Abstract] |
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| Investment in Fixed Maturity Securities |
Investments in fixed maturity securities are summarized by type as follows:
| | | | | | | | | | | | | | | | | | | | | Original or Amortized | | | | Gross Unrealized | | | | Gross Unrealized | | | | | | | June 30, 2026 | | | Cost | | | | Gains | | | | Losses | | | | Fair Value | | | U.S. Government and govt. agencies and authorities | | $ | 22,841,494 | | | $ | 8,728 | | | $ | (168,850 | ) | | $ | 22,681,372 | | | U.S. special revenue and assessments | | | 7,513,047 | | | | 0 | | | | (141,041 | ) | | | 7,372,006 | | | All other corporate bonds | | | 43,898,651 | | | | 64,270 | | | | (1,946,816 | ) | | | 42,016,105 | | | Total fixed maturities, at fair value | | $ | 74,253,192 | | | $ | 72,998 | | | $ | (2,256,707 | ) | | $ | 72,069,483 | |
| | | | | | | | | | | | | | | | | | | | | Original or Amortized | | | | Gross Unrealized | | | | Gross Unrealized | | | | | | | December 31, 2025 | | | Cost | | | | Gains | | | | Losses | | | | Fair Value | | | U.S. Government and govt. agencies and authorities | | $ | 22,839,422 | | | $ | 60,190 | | | $ | (148,886 | ) | | $ | 22,750,726 | | | U.S. special revenue and assessments | | | 7,516,321 | | | | 0 | | | | (62,399 | ) | | | 7,453,922 | | | All other corporate bonds | | | 44,545,247 | | | | 148,195 | | | | (1,738,501 | ) | | | 42,954,941 | | | Total fixed maturities, at fair value | | $ | 74,900,990 | | | $ | 208,385 | | | $ | (1,949,786 | ) | | $ | 73,159,589 | |
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| Fixed Maturity Securities by Contractual Maturity |
The amortized cost and estimated market value of fixed maturity securities at June 30, 2026, by contractual maturity, is shown below. | | | | | | | | | | June 30, 2026 | | | Amortized Cost | | | | Fair Value | | | Due in one year or less | | $ | 29,623,059 | | | $ | 29,545,125 | | | Due after one year through five years | | | 23,254,623 | | | | 23,016,348 | | | Due after five years through ten years | | | 6,848,544 | | | | 6,379,845 | | | Due after ten years | | | 14,526,966 | | | | 13,128,165 | | | Total | | $ | 74,253,192 | | | $ | 72,069,483 | |
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| Estimated Fair Value and Gross Unrealized Losses of Fixed Maturity Securities in Unrealized Loss Position |
The following tables present the estimated fair value and gross unrealized losses of fixed maturity securities in an unrealized loss position:
| | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Less than 12 months | | 12 months or longer | | Total | | | | | Fair value | | | | Unrealized losses | | | | Fair value | | | | Unrealized losses | | | | Fair value | | | | Unrealized losses | | | U.S. Government and govt. agencies and authorities | | $ | 6,628,897 | | | $ | (74,360 | ) | | $ | 7,015,459 | | | $ | (94,490 | ) | | $ | 13,644,356 | | | $ | (168,850 | ) | | U.S. special revenue and assessments | | | 0 | | | | 0 | | | | 7,372,006 | | | | (141,041 | ) | | | 7,372,006 | | | | (141,041 | ) | | All other corporate bonds | | | 2,046,275 | | | | (22,453 | ) | | | 33,425,895 | | | | (1,924,363 | ) | | | 35,472,170 | | | | (1,946,816 | ) | | Total fixed maturities | | $ | 8,675,172 | | | $ | (96,813 | ) | | $ | 47,813,360 | | | $ | (2,159,894 | ) | | $ | 56,488,532 | | | $ | (2,256,707 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Less than 12 months | | 12 months or longer | | Total | | | | | Fair value | | | | Unrealized losses | | | | Fair value | | | | Unrealized losses | | | | Fair value | | | | Unrealized losses | | | U.S. Government and govt. agencies and authorities | | $ | 996,280 | | | $ | (2,040 | ) | | $ | 8,663,797 | | | $ | (146,846 | ) | | $ | 9,660,077 | | | $ | (148,886 | ) | | U.S. special revenue and assessments | | | 0 | | | | 0 | | | | 7,453,922 | | | | (62,399 | ) | | | 7,453,922 | | | | (62,399 | ) | | All other corporate bonds | | | 0 | | | | 0 | | | | 34,265,250 | | | | (1,738,501 | ) | | | 34,265,250 | | | | (1,738,501 | ) | | Total fixed maturities | | $ | 996,280 | | | $ | (2,040 | ) | | $ | 50,382,969 | | | $ | (1,947,746 | ) | | $ | 51,379,249 | | | $ | (1,949,786 | ) |
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| Securities in Continuous Unrealized Loss Position |
Additional information regarding investments in an unrealized loss position is as follows:
| | | | | | | | | | | | | | | Less than 12 months | | | | 12 months or longer | | | | Total | | | As of June 30, 2026 | | | | | | | | | | | | | Fixed maturities | | 7 | | | | 27 | | | | 34 | | | As of December 31, 2025 | | | | | | | | | | | | | Fixed maturities | | 1 | | | | 29 | | | | 30 | |
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| Net Unrealized Losses Included in Other Comprehensive Income (Loss) |
Net unrealized losses included in other
comprehensive income (loss) for investments classified as available-for-sale, net of the effect of deferred income
taxes, assuming that the depreciation had been realized as of June 30, 2026 and December 31, 2025: | | | | | | | | | | | June 30, 2026 | | | | December 31, 2025 | | | Unrealized appreciation (depreciation) on available-for-sale securities | $ | (2,183,709 | ) | | $ | (1,741,400 | ) | | Deferred income taxes | | 458,579 | | | | 365,693 | | | Net unrealized appreciation (depreciation) on available-for-sale securities | $ | (1,725,130 | ) | | $ | (1,375,707 | ) |
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| Maximum and Minimum Lending Rates for Mortgage Loan |
During 2026 and 2025, the maximum and minimum lending rates for mortgage loans were:
| | | | | | | | | | | | | | | | | | 2026 | | 2025 | | | | Maximum rate | | | | Minimum rate | | | | Maximum rate | | | | Minimum rate | | | Farm Loans | | 8.00 | % | | | 8.00 | % | | | 8.00 | % | | | 8.00 | % | | Commercial Loans | | 10.00 | % | | | 4.40 | % | | | 10.00 | % | | | 4.40 | % | | Residential Loans | | 5.00 | % | | | 4.15 | % | | | 5.00 | % | | | 4.15 | % |
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| Summary of Mortgage Loans Holdings |
The following table summarizes the mortgage loan holdings of the Company:
| | | | | | | | | | | June 30, 2026 | | | | December 31, 2025 | | | In good standing | $ | 27,154,164 | | | $ | 14,402,304 | | | Total mortgage loans | $ | 27,154,164 | | | $ | 14,402,304 | |
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| Summary of Mortgage Loans Outstanding and Related Allowance for Credit Losses |
The following is a summary of the mortgage loans outstanding and the related allowance for credit losses:
| | | | | | | | | | | June 30, 2026 | | | | December 31, 2025 | | | Farm | $ | 306,417 | | | $ | 311,780 | | | Commercial | | 25,900,999 | | | | 12,928,334 | | | Residential | | 1,356,748 | | | | 1,382,190 | | | Total mortgage loans | | 27,564,164 | | | | 14,622,304 | | | Less allowance for credit losses | | (410,000 | ) | | | (220,000 | ) | | Total mortgage loans, net | $ | 27,154,164 | | | $ | 14,402,304 | |
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| Notes Receivables |
The following is a summary of the notes receivable outstanding and the related allowance for credit losses:
| | | | | | | | | | | June 30, 2026 | | | | December 31, 2025 | | | Notes receivable | $ | 4,410,721 | | | $ | 8,843,417 | | | Less allowance for credit losses | | (70,000 | ) | | | (135,000 | ) | | Total notes receivable, net | $ | 4,340,721 | | | $ | 8,708,417 | |
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| Allowance for Credit Loss |
The following is a summary of activity related to the allowance for credit loss:
| | Allowance For Credit Losses | | | | Mortgage | | | | Notes | | | | Unfunded | | | | | | | | | Loans | | | | Receivable | | | | Commitments | | | | Total | | | January 1, 2025 | $ | 235,000 | | | $ | 195,000 | | | $ | 50,000 | | | $ | 480,000 | | | 2025 Change in allowance | | (15,000 | ) | | | (60,000 | ) | | | (20,000 | ) | | | (95,000 | ) | | December 31, 2025 | | 220,000 | | | | 135,000 | | | | 30,000 | | | | 385,000 | | | 2026 Change in allowance | | 190,000 | | | | (65,000 | ) | | | (5,000 | ) | | | 120,000 | | | June 30, 2026 | $ | 410,000 | | | $ | 70,000 | | | $ | 25,000 | | | $ | 505,000 | |
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| Investment Real Estate by Type |
The following table provides an allocation of the Company’s investment real estate by type:
| | | | | | | | | | | June 30, 2026 | | | | December 31, 2025 | | | Raw land | $ | 16,874,842 | | | $ | 16,754,842 | | | Commercial | | 6,154,837 | | | | 6,245,872 | | | Residential | | 1,880,422 | | | | 1,897,744 | | | Land, minerals and royalty interests | | 7,425,130 | | | | 8,189,241 | | | Total investment real estate | $ | 32,335,231 | | | $ | 33,087,699 | |
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| Net Investment Gains (Losses) and Change in Net Unrealized Gains (Losses) on Investments |
The following table presents net investment gains (losses) and the change in net unrealized gains on available-for-sale investments.
| | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | | | | 2026 | | | | 2025 | | | | 2026 | | | | 2025 | | | Realized gains: | | | | | | | | | | | | | | | | | Sales of fixed maturities | $ | 0 | | | $ | 412 | | | $ | 42,178 | | | $ | 412 | | | Sales of equity securities | | 5,914,829 | | | | 3,735 | | | | 9,421,444 | | | | 979,504 | | | Sales of real estate | | 0 | | | | 46,846 | | | | 0 | | | | 46,846 | | | Sales of short-term investments | | 188 | | | | 6 | | | | 188 | | | | 6 | | | Total realized gains | | 5,915,017 | | | | 50,999 | | | | 9,463,810 | | | | 1,026,768 | | | Realized losses: | | | | | | | | | | | | | | | | | Sales of fixed maturities | | (7,716 | ) | | | 0 | | | | (7,716 | ) | | | 0 | | | Total realized losses | | (7,716 | ) | | | 0 | | | | (7,716 | ) | | | 0 | | | Net realized investment gains | | 5,907,301 | | | | 50,999 | | | | 9,456,094 | | | | 1,026,768 | | | Change in fair value of equity securities: | | | | | | | | | | | | | | | | | Change in fair value of equity securities held at the end of the period | | 2,250,531 | | | | (1,256,918 | ) | | | 30,463,997 | | | | 15,033,564 | | | Change in fair value of equity securities | | 2,250,531 | | | | (1,256,918 | ) | | | 30,463,997 | | | | 15,033,564 | | | Net investment gains | $ | 8,157,832 | | | $ | (1,205,919 | ) | | $ | 39,920,091 | | | $ | 16,060,332 | | | Change in net unrealized gains (losses) on available-for-sale investments included in other comprehensive income: | | | | | | | | | | | | | | | | | Fixed maturities | $ | (26,998 | ) | | $ | 365,715 | | | $ | (442,308 | ) | | $ | 1,287,922 | | | Net increase (decrease) | $ | (26,998 | ) | | $ | 365,715 | | | $ | (442,308 | ) | | $ | 1,287,922 | |
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