| Segment Reporting [Text Block] |
4. Segment Data
The Company has a life insurance segment, consisting of the life insurance operations of TLIC, FBLIC and TAI, an annuity segment, consisting of the annuity operations of TLIC, FBLIC and TAI and a corporate segment. Results for the parent company and the operations of TMC, after elimination of intercompany amounts, are allocated to the corporate segment. These segments as of June 30, 2026 and December 31, 2025 and for the three and six months ended June 30, 2026 and 2025 are summarized as follows:
| |
|
Three Months Ended June 30, (Unaudited)
|
|
|
Six Months Ended June 30, (Unaudited)
|
|
| |
|
2026
|
|
|
2025
|
|
|
2026
|
|
|
2025
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Life insurance operations
|
|
$ |
14,083,296 |
|
|
$ |
13,374,112 |
|
|
$ |
27,104,612 |
|
|
$ |
25,640,280 |
|
|
Annuity operations
|
|
|
6,489,765 |
|
|
|
6,825,022 |
|
|
|
12,941,197 |
|
|
|
13,091,553 |
|
|
Corporate operations
|
|
|
870,509 |
|
|
|
2,182,518 |
|
|
|
1,558,395 |
|
|
|
3,259,514 |
|
|
Total
|
|
$ |
21,443,570 |
|
|
$ |
22,381,652 |
|
|
$ |
41,604,204 |
|
|
$ |
41,991,347 |
|
|
Income (loss) before income taxes:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Life insurance operations
|
|
$ |
2,098,792 |
|
|
$ |
1,833,786 |
|
|
$ |
5,116,884 |
|
|
$ |
3,668,474 |
|
|
Annuity operations
|
|
|
(309,523 |
) |
|
|
175,828 |
|
|
|
(459,133 |
) |
|
|
(425,920 |
) |
|
Corporate operations
|
|
|
290,972 |
|
|
|
1,316,981 |
|
|
|
82,669 |
|
|
|
1,825,272 |
|
|
Total
|
|
$ |
2,080,241 |
|
|
$ |
3,326,595 |
|
|
$ |
4,740,420 |
|
|
$ |
5,067,826 |
|
|
Depreciation and amortization expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Life insurance operations
|
|
$ |
1,531,357 |
|
|
$ |
1,919,120 |
|
|
$ |
2,876,953 |
|
|
$ |
3,753,043 |
|
|
Annuity operations
|
|
|
584,980 |
|
|
|
588,931 |
|
|
|
1,123,736 |
|
|
|
1,173,944 |
|
|
Total
|
|
$ |
2,116,337 |
|
|
$ |
2,508,051 |
|
|
$ |
4,000,689 |
|
|
$ |
4,926,987 |
|
| |
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
June 30, 2026
|
|
|
December 31, 2025
|
|
|
|
|
|
|
|
|
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Life insurance operations
|
|
$ |
185,401,006 |
|
|
$ |
180,762,415 |
|
|
|
|
|
|
|
|
|
|
Annuity operations
|
|
|
515,402,138 |
|
|
|
493,747,063 |
|
|
|
|
|
|
|
|
|
|
Corporate operations
|
|
|
14,283,957 |
|
|
|
14,674,801 |
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
715,087,101 |
|
|
$ |
689,184,279 |
|
|
|
|
|
|
|
|
|
The increases and decreases of revenues and profitability from our business segments for the three months ended June 30, 2026 and 2025 are summarized as follows:
| |
|
(Unaudited)
|
|
| |
|
Life Insurance
|
|
|
Annuity
|
|
|
Corporate
|
|
|
|
|
|
| |
|
Operations
|
|
|
Operations
|
|
|
Operations
|
|
|
Total
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premiums
|
|
$ |
758,593 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
758,593 |
|
|
Net investment income
|
|
|
(23,602 |
) |
|
|
(235,163 |
) |
|
|
74,758 |
|
|
|
(184,007 |
) |
|
Net realized investment gains and loss on impairments
|
|
|
(23,007 |
) |
|
|
(45,851 |
) |
|
|
- |
|
|
|
(68,858 |
) |
|
Service fees and other income
|
|
|
(2,800 |
) |
|
|
(54,243 |
) |
|
|
(1,386,767 |
) |
|
|
(1,443,810 |
) |
|
Total revenue
|
|
|
709,184 |
|
|
|
(335,257 |
) |
|
|
(1,312,009 |
) |
|
|
(938,082 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefits and claims
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in future policy benefits
|
|
|
206,667 |
|
|
|
- |
|
|
|
- |
|
|
|
206,667 |
|
|
Death benefits
|
|
|
217,235 |
|
|
|
- |
|
|
|
- |
|
|
|
217,235 |
|
|
Surrenders
|
|
|
132,185 |
|
|
|
- |
|
|
|
- |
|
|
|
132,185 |
|
|
Interest credited to policyholders
|
|
|
- |
|
|
|
151,276 |
|
|
|
- |
|
|
|
151,276 |
|
|
Dividend, endowment and supplementary life contract benefits
|
|
|
30,969 |
|
|
|
- |
|
|
|
- |
|
|
|
30,969 |
|
|
Total benefits and claims
|
|
|
587,056 |
|
|
|
151,276 |
|
|
|
- |
|
|
|
738,332 |
|
|
Expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Policy acquisition costs deferred net of amortization
|
|
|
(575,609 |
) |
|
|
(423,814 |
) |
|
|
- |
|
|
|
(999,423 |
) |
|
Amortization of value of insurance business acquired
|
|
|
(2,422 |
) |
|
|
(2,422 |
) |
|
|
- |
|
|
|
(4,844 |
) |
|
Commissions
|
|
|
256,837 |
|
|
|
399,090 |
|
|
|
- |
|
|
|
655,927 |
|
|
Other underwriting, insurance and acquisition expenses
|
|
|
178,316 |
|
|
|
25,964 |
|
|
|
(286,000 |
) |
|
|
(81,720 |
) |
|
Total expenses
|
|
|
(142,878 |
) |
|
|
(1,182 |
) |
|
|
(286,000 |
) |
|
|
(430,060 |
) |
|
Total benefits, claims and expenses
|
|
|
444,178 |
|
|
|
150,094 |
|
|
|
(286,000 |
) |
|
|
308,272 |
|
|
Income (loss) before federal income taxes
|
|
$ |
265,006 |
|
|
$ |
(485,351 |
) |
|
$ |
(1,026,009 |
) |
|
$ |
(1,246,354 |
) |
The increases and decreases of revenues and profitability from our business segments for the six months ended June 30, 2026 and 2025 are summarized as follows:
| |
|
(Unaudited)
|
|
| |
|
Life Insurance
|
|
|
Annuity
|
|
|
Corporate
|
|
|
|
|
|
| |
|
Operations
|
|
|
Operations
|
|
|
Operations
|
|
|
Total
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premiums
|
|
$ |
1,285,766 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1,285,766 |
|
|
Net investment income
|
|
|
364,598 |
|
|
|
449,704 |
|
|
|
41,980 |
|
|
|
856,282 |
|
|
Net realized investment gains and loss on impairments
|
|
|
(191,422 |
) |
|
|
(569,527 |
) |
|
|
- |
|
|
|
(760,949 |
) |
|
Service fees and other income
|
|
|
5,390 |
|
|
|
(30,533 |
) |
|
|
(1,743,099 |
) |
|
|
(1,768,242 |
) |
|
Total revenue
|
|
|
1,464,332 |
|
|
|
(150,356 |
) |
|
|
(1,701,119 |
) |
|
|
(387,143 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefits and claims
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in future policy benefits
|
|
|
324,461 |
|
|
|
- |
|
|
|
- |
|
|
|
324,461 |
|
|
Death benefits
|
|
|
382,244 |
|
|
|
- |
|
|
|
- |
|
|
|
382,244 |
|
|
Surrenders
|
|
|
54,384 |
|
|
|
- |
|
|
|
- |
|
|
|
54,384 |
|
|
Interest credited to policyholders
|
|
|
- |
|
|
|
135,676 |
|
|
|
- |
|
|
|
135,676 |
|
|
Dividend, endowment and supplementary life contract benefits
|
|
|
1,792 |
|
|
|
- |
|
|
|
- |
|
|
|
1,792 |
|
|
Total benefits and claims
|
|
|
762,881 |
|
|
|
135,676 |
|
|
|
- |
|
|
|
898,557 |
|
|
Expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Policy acquisition costs deferred net of amortization
|
|
|
(1,034,448 |
) |
|
|
(800,773 |
) |
|
|
- |
|
|
|
(1,835,221 |
) |
|
Amortization of value of insurance business acquired
|
|
|
(4,844 |
) |
|
|
(4,845 |
) |
|
|
- |
|
|
|
(9,689 |
) |
|
Commissions
|
|
|
345,208 |
|
|
|
734,211 |
|
|
|
- |
|
|
|
1,079,419 |
|
|
Other underwriting, insurance and acquisition expenses
|
|
|
(52,875 |
) |
|
|
(181,412 |
) |
|
|
41,484 |
|
|
|
(192,803 |
) |
|
Total expenses
|
|
|
(746,959 |
) |
|
|
(252,819 |
) |
|
|
41,484 |
|
|
|
(958,294 |
) |
|
Total benefits, claims and expenses
|
|
|
15,922 |
|
|
|
(117,143 |
) |
|
|
41,484 |
|
|
|
(59,737 |
) |
|
Income (loss) before federal income taxes (benefits)
|
|
$ |
1,448,410 |
|
|
$ |
(33,213 |
) |
|
$ |
(1,742,603 |
) |
|
$ |
(327,406 |
) |
The Company conducts and manages its business through three reporting business segments. The two reporting segments representing the major lines of business, are: (1) Life Insurance Operations and (2) Annuity Operations. The third reporting business segment is Corporate Operations that represents the activities of the financial holding companies that own all consolidated subsidiaries and include excess assets that are invested primarily in mortgage loan activities. The Company allocates the impact of corporate-level transactions to all three reporting segments, consistent with the basis for management's evaluation of the results of those reporting segments.
The accounting policies of the reporting segments are the same as those described in Note 1 - Organization and Significant Accounting Policies. Business segment allocations are based on certain assumptions and estimates primarily related to asset and liability holdings and revenue and cost activity with methodologies applied consistently from year-to-year. Stated segment operating results would change if different methods were applied.
The Company’s Chief Executive Officer is the chief operating decision maker (CODM), responsible for reviewing financial performance and making decisions regarding the allocation of resources for the reporting segments. The Company measures and analyzes segment performance based on earnings focused on investment yield, mortality of life insurance operations, interest assumptions inherent in life insurance future policy benefits, policyholders’ balances interest crediting rates and relative ratios of commission to life insurance premiums and annuity deposits as presented in our consolidated statements of operations. FTFC believes that U.S. GAAP earnings before federal income taxes is an appropriate indicator of the profitability and underlying trends in our life insurance and annuity business. The CODM considers actual-to-budget variances in U.S. GAAP earnings on a quarterly basis when making decisions about allocating capital and personnel to segments and evaluating product pricing.
Disaggregated financial information for these segments, as regularly provided to the CODM, for the three and six months ended June 30, 2026 and 2025 are summarized as follows:
| |
|
(Unaudited)
|
|
| |
|
Three Months Ended June 30, 2026
|
|
| |
|
Life Insurance
|
|
|
Annuity
|
|
|
Corporate
|
|
|
|
|
|
| |
|
Operations
|
|
|
Operations
|
|
|
Operations
|
|
|
Total
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premiums
|
|
$ |
11,744,314 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
11,744,314 |
|
|
Net investment income
|
|
|
2,293,960 |
|
|
|
6,374,419 |
|
|
|
258,852 |
|
|
|
8,927,231 |
|
|
Net realized investment losses
|
|
|
(24,405 |
) |
|
|
(67,411 |
) |
|
|
|
|
|
|
(91,816 |
) |
|
Service fees and other income
|
|
|
69,427 |
|
|
|
182,757 |
|
|
|
611,657 |
|
|
|
863,841 |
|
|
Total revenue
|
|
|
14,083,296 |
|
|
|
6,489,765 |
|
|
|
870,509 |
|
|
|
21,443,570 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefits and claims
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in future policy benefits
|
|
|
4,054,616 |
|
|
|
- |
|
|
|
- |
|
|
|
4,054,616 |
|
|
Death benefits
|
|
|
4,095,473 |
|
|
|
- |
|
|
|
- |
|
|
|
4,095,473 |
|
|
Surrenders
|
|
|
882,726 |
|
|
|
- |
|
|
|
- |
|
|
|
882,726 |
|
|
Interest credited to policyholders
|
|
|
- |
|
|
|
4,969,653 |
|
|
|
- |
|
|
|
4,969,653 |
|
|
Dividend, endowment and supplementary life contract benefits
|
|
|
132,709 |
|
|
|
- |
|
|
|
- |
|
|
|
132,709 |
|
|
Total benefits and claims
|
|
|
9,165,524 |
|
|
|
4,969,653 |
|
|
|
- |
|
|
|
14,135,177 |
|
|
Expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Policy acquisition costs deferred net of amortization
|
|
|
(1,564,413 |
) |
|
|
(253,197 |
) |
|
|
- |
|
|
|
(1,817,610 |
) |
|
Amortization of value of insurance business acquired
|
|
|
44,096 |
|
|
|
44,096 |
|
|
|
- |
|
|
|
88,192 |
|
|
Commissions
|
|
|
3,035,083 |
|
|
|
798,341 |
|
|
|
- |
|
|
|
3,833,424 |
|
|
Other underwriting, insurance and acquisition expenses
|
|
|
1,304,214 |
|
|
|
1,240,395 |
|
|
|
579,537 |
|
|
|
3,124,146 |
|
|
Total expenses
|
|
|
2,818,980 |
|
|
|
1,829,635 |
|
|
|
579,537 |
|
|
|
5,228,152 |
|
|
Total benefits, claims and expenses
|
|
|
11,984,504 |
|
|
|
6,799,288 |
|
|
|
579,537 |
|
|
|
19,363,329 |
|
|
Income before federal income tax expense
|
|
$ |
2,098,792 |
|
|
$ |
(309,523 |
) |
|
$ |
290,972 |
|
|
$ |
2,080,241 |
|
| |
|
(Unaudited)
|
|
| |
|
Three Months Ended June 30, 2025
|
|
| |
|
Life Insurance
|
|
|
Annuity
|
|
|
Corporate
|
|
|
|
|
|
| |
|
Operations
|
|
|
Operations
|
|
|
Operations
|
|
|
Total
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premiums
|
|
$ |
10,985,721 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
10,985,721 |
|
|
Net investment income
|
|
|
2,317,562 |
|
|
|
6,609,583 |
|
|
|
184,093 |
|
|
|
9,111,238 |
|
|
Net realized investment gains and loss on impairments
|
|
|
(1,398 |
) |
|
|
(21,560 |
) |
|
|
- |
|
|
|
(22,958 |
) |
|
Service fees and other income
|
|
|
72,227 |
|
|
|
236,999 |
|
|
|
1,998,425 |
|
|
|
2,307,651 |
|
|
Total revenue
|
|
|
13,374,112 |
|
|
|
6,825,022 |
|
|
|
2,182,518 |
|
|
|
22,381,652 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefits and claims
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in future policy benefits
|
|
|
3,847,949 |
|
|
|
- |
|
|
|
- |
|
|
|
3,847,949 |
|
|
Death benefits
|
|
|
3,878,238 |
|
|
|
- |
|
|
|
- |
|
|
|
3,878,238 |
|
|
Surrenders
|
|
|
750,541 |
|
|
|
- |
|
|
|
- |
|
|
|
750,541 |
|
|
Interest credited to policyholders
|
|
|
- |
|
|
|
4,818,377 |
|
|
|
- |
|
|
|
4,818,377 |
|
|
Dividend, endowment and supplementary life contract benefits
|
|
|
101,740 |
|
|
|
- |
|
|
|
- |
|
|
|
101,740 |
|
|
Total benefits and claims
|
|
|
8,578,468 |
|
|
|
4,818,377 |
|
|
|
- |
|
|
|
13,396,845 |
|
|
Expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Policy acquisition costs deferred net of amortization
|
|
|
(988,803 |
) |
|
|
170,616 |
|
|
|
- |
|
|
|
(818,187 |
) |
|
Amortization of value of insurance business acquired
|
|
|
46,518 |
|
|
|
46,518 |
|
|
|
- |
|
|
|
93,036 |
|
|
Commissions
|
|
|
2,778,246 |
|
|
|
399,251 |
|
|
|
- |
|
|
|
3,177,497 |
|
|
Other underwriting, insurance and acquisition expenses
|
|
|
1,125,897 |
|
|
|
1,214,432 |
|
|
|
865,537 |
|
|
|
3,205,866 |
|
|
Total expenses
|
|
|
2,961,858 |
|
|
|
1,830,817 |
|
|
|
865,537 |
|
|
|
5,658,212 |
|
|
Total benefits, claims and expenses
|
|
|
11,540,326 |
|
|
|
6,649,194 |
|
|
|
865,537 |
|
|
|
19,055,057 |
|
|
Income before federal income tax expense
|
|
$ |
1,833,786 |
|
|
$ |
175,828 |
|
|
$ |
1,316,981 |
|
|
$ |
3,326,595 |
|
| |
|
(Unaudited)
|
|
| |
|
Six Months Ended June 30, 2026
|
|
| |
|
Life Insurance
|
|
|
Annuity
|
|
|
Corporate
|
|
|
|
|
|
| |
|
Operations
|
|
|
Operations
|
|
|
Operations
|
|
|
Total
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premiums
|
|
$ |
22,430,563 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
22,430,563 |
|
|
Net investment income
|
|
|
4,585,286 |
|
|
|
12,709,311 |
|
|
|
491,206 |
|
|
|
17,785,803 |
|
|
Net realized investment gains
|
|
|
21,419 |
|
|
|
56,878 |
|
|
|
- |
|
|
|
78,297 |
|
|
Service fees and other income
|
|
|
67,344 |
|
|
|
175,008 |
|
|
|
1,067,189 |
|
|
|
1,309,541 |
|
|
Total revenue
|
|
|
27,104,612 |
|
|
|
12,941,197 |
|
|
|
1,558,395 |
|
|
|
41,604,204 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefits and claims
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in future policy benefits
|
|
|
6,712,327 |
|
|
|
- |
|
|
|
- |
|
|
|
6,712,327 |
|
|
Death benefits
|
|
|
8,225,475 |
|
|
|
- |
|
|
|
- |
|
|
|
8,225,475 |
|
|
Surrenders
|
|
|
1,580,492 |
|
|
|
- |
|
|
|
- |
|
|
|
1,580,492 |
|
|
Interest credited to policyholders
|
|
|
- |
|
|
|
9,725,657 |
|
|
|
- |
|
|
|
9,725,657 |
|
|
Dividend, endowment and supplementary life contract benefits
|
|
|
232,319 |
|
|
|
- |
|
|
|
- |
|
|
|
232,319 |
|
|
Total benefits and claims
|
|
|
16,750,613 |
|
|
|
9,725,657 |
|
|
|
- |
|
|
|
26,476,270 |
|
|
Expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Policy acquisition costs deferred net of amortization
|
|
|
(2,937,211 |
) |
|
|
(263,559 |
) |
|
|
- |
|
|
|
(3,200,770 |
) |
|
Amortization of value of insurance business acquired
|
|
|
88,191 |
|
|
|
88,192 |
|
|
|
- |
|
|
|
176,383 |
|
|
Commissions
|
|
|
5,640,805 |
|
|
|
1,315,954 |
|
|
|
- |
|
|
|
6,956,759 |
|
|
Other underwriting, insurance and acquisition expenses
|
|
|
2,445,330 |
|
|
|
2,534,086 |
|
|
|
1,475,726 |
|
|
|
6,455,142 |
|
|
Total expenses
|
|
|
5,237,115 |
|
|
|
3,674,673 |
|
|
|
1,475,726 |
|
|
|
10,387,514 |
|
|
Total benefits, claims and expenses
|
|
|
21,987,728 |
|
|
|
13,400,330 |
|
|
|
1,475,726 |
|
|
|
36,863,784 |
|
|
Income before federal income tax expense
|
|
$ |
5,116,884 |
|
|
$ |
(459,133 |
) |
|
$ |
82,669 |
|
|
$ |
4,740,420 |
|
| |
|
(Unaudited)
|
|
| |
|
Six Months Ended June 30, 2025
|
|
| |
|
Life Insurance
|
|
|
Annuity
|
|
|
Corporate
|
|
|
|
|
|
| |
|
Operations
|
|
|
Operations
|
|
|
Operations
|
|
|
Total
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premiums
|
|
$ |
21,144,797 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
21,144,797 |
|
|
Net investment income
|
|
|
4,220,687 |
|
|
|
12,259,607 |
|
|
|
449,227 |
|
|
|
16,929,521 |
|
|
Net realized investment gains and loss on impairments
|
|
|
212,842 |
|
|
|
626,404 |
|
|
|
- |
|
|
|
839,246 |
|
|
Service fees and other income
|
|
|
61,954 |
|
|
|
205,542 |
|
|
|
2,810,287 |
|
|
|
3,077,783 |
|
|
Total revenue
|
|
|
25,640,280 |
|
|
|
13,091,553 |
|
|
|
3,259,514 |
|
|
|
41,991,347 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefits and claims
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in future policy benefits
|
|
|
6,387,866 |
|
|
|
- |
|
|
|
- |
|
|
|
6,387,866 |
|
|
Death benefits
|
|
|
7,843,231 |
|
|
|
- |
|
|
|
- |
|
|
|
7,843,231 |
|
|
Surrenders
|
|
|
1,526,108 |
|
|
|
- |
|
|
|
- |
|
|
|
1,526,108 |
|
|
Interest credited to policyholders
|
|
|
- |
|
|
|
9,589,981 |
|
|
|
- |
|
|
|
9,589,981 |
|
|
Dividend, endowment and supplementary life contract benefits
|
|
|
230,527 |
|
|
|
- |
|
|
|
- |
|
|
|
230,527 |
|
|
Total benefits and claims
|
|
|
15,987,732 |
|
|
|
9,589,981 |
|
|
|
- |
|
|
|
25,577,713 |
|
|
Expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Policy acquisition costs deferred net of amortization
|
|
|
(1,902,763 |
) |
|
|
537,214 |
|
|
|
- |
|
|
|
(1,365,549 |
) |
|
Amortization of value of insurance business acquired
|
|
|
93,036 |
|
|
|
93,036 |
|
|
|
- |
|
|
|
186,072 |
|
|
Commissions
|
|
|
5,295,597 |
|
|
|
581,743 |
|
|
|
- |
|
|
|
5,877,340 |
|
|
Other underwriting, insurance and acquisition expenses
|
|
|
2,498,204 |
|
|
|
2,715,499 |
|
|
|
1,434,242 |
|
|
|
6,647,945 |
|
|
Total expenses
|
|
|
5,984,074 |
|
|
|
3,927,492 |
|
|
|
1,434,242 |
|
|
|
11,345,808 |
|
|
Total benefits, claims and expenses
|
|
|
21,971,806 |
|
|
|
13,517,473 |
|
|
|
1,434,242 |
|
|
|
36,923,521 |
|
|
Income before federal income tax expense
|
|
$ |
3,668,474 |
|
|
$ |
(425,920 |
) |
|
$ |
1,825,272 |
|
|
$ |
5,067,826 |
|
|