Note 3 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Notes Tables

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

		Level 1				Level 2				Level 3				Total
		June 30, 2026 (Unaudited)
Fixed maturity securities, available-for-sale
U.S. government and U.S. government agencies		$	-			$	4,245,795			$	-			$	4,245,795
States and political subdivisions			-				6,173,195				-				6,173,195
U.S. government agency mortgage backed securities			-				49,685,149				-				49,685,149
Commercial mortgage-backed securities			-				26,371,359				-				26,371,359
Residential mortgage-backed securities			-				4,848,126				-				4,848,126
Corporate bonds			-				103,590,560				-				103,590,560
Asset-backed securities			-				13,773,861				-				13,773,861
Foreign bonds			-				24,510,297				-				24,510,297
Redeemable preferred securities			-				1,015,000				-				1,015,000
Total fixed maturity securities		$	-			$	234,213,342			$	-			$	234,213,342
Fixed maturity securities, available-for-sale held in trust under coinsurance agreement		$	-			$	9,090,095			$	-			$	9,090,095

Equity securities
Mutual funds		$	-			$	42,136			$	-			$	42,136
Corporate common stock			368,510				5,467,618				162,053				5,998,181
Total equity securities		$	368,510			$	5,509,754			$	162,053			$	6,040,317

		December 31, 2025
Fixed maturity securities, available-for-sale
U.S. government and U.S. government agencies		$	-			$	4,285,951			$	-			$	4,285,951
States and political subdivisions			-				6,505,432				-				6,505,432
U.S. government agency mortgage backed securities			-				35,540,755				-				35,540,755
Commercial mortgage-backed securities			-				23,650,902				-				23,650,902
Residential mortgage-backed securities			-				2,467,599				-				2,467,599
Corporate bonds			-				98,601,063				-				98,601,063
Asset-backed securities			-				11,570,094				-				11,570,094
Exchange traded securities			-				492,000				-				492,000
Foreign bonds			-				25,792,709				-				25,792,709
Redeemable preferred securities			-				1,020,000				-				1,020,000
Total fixed maturity securities		$	-			$	209,926,505			$	-			$	209,926,505

Fixed maturity securities, available-for-sale held in trust under coinsurance agreement		$	-			$	12,377,603			$	-			$	12,377,603

Equity securities
Mutual funds		$	-			$	43,837			$	-			$	43,837
Corporate common stock			289,214				5,347,910				156,614				5,793,738
Total equity securities		$	289,214			$	5,391,747			$	156,614			$	5,837,575

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

		(Unaudited)
		June 30, 2026				December 31, 2025

Beginning balance		$	156,614			$	55,908
Joint venture investment			-				150,000
Joint venture net income			78,916				67,481
Joint venture distribution			(73,477	)			(116,775	)
Ending balance		$	162,053			$	156,614

Fair Value, by Balance Sheet Grouping [Table Text Block]

		Carrying				Fair
		Amount				Value				Level 1				Level 2				Level 3
		June 30, 2026 (Unaudited)
Financial assets
Mortgage loans on real estate
Commercial		$	37,698,793			$	40,401,750			$	-			$	-			$	40,401,750
Residential			219,472,643				258,459,141				-				-				258,459,141
Policy loans			5,722,616				5,722,616				-				-				5,722,616
Other long-term investments			48,677,433				52,944,315				-				104,927				52,839,388
Cash and cash equivalents			39,984,625				39,984,625				39,984,625				-				-
Accrued investment income			6,677,426				6,677,426				-				-				6,677,426
Total financial assets		$	358,233,536			$	404,189,873			$	39,984,625			$	104,927			$	364,100,321
Held in trust under coinsurance agreement
Mortgage loans on real estate
Commercial		$	4,853,932			$	4,853,932			$	-			$	-			$	4,853,932
Cash and cash equivalents			486,992				486,992				486,992				-				-
Total financial assets held in trust under coinsurance agreement		$	5,340,924			$	5,340,924			$	486,992			$	-			$	4,853,932

Policyholders' account balances		$	438,119,994			$	375,352,641			$	-			$	-			$	375,352,641
Policy claims			3,069,138				3,069,138				-				-				3,069,138
Total financial liabilities		$	441,189,132			$	378,421,779			$	-			$	-			$	378,421,779

		December 31, 2025
Financial assets
Mortgage loans on real estate
Commercial		$	29,884,406			$	31,628,099			$	-			$	-			$	31,628,099
Residential			221,015,308				254,274,268				-				-				254,274,268
Policy loans			5,132,086				5,132,086				-				-				5,132,086
Other long-term investments			51,276,119				55,781,517				-				104,830				55,676,687
Cash and cash equivalents			39,496,427				39,496,427				39,496,427				-				-
Accrued investment income			6,454,380				6,454,380				-				-				6,454,380
Total financial assets		$	353,258,726			$	392,766,777			$	39,496,427			$	104,830			$	353,165,520
Held in trust under coinsurance agreement
Mortgage loans on real estate
Commercial		$	5,298,828			$	5,298,828			$	-			$	-			$	5,298,828
Cash and cash equivalents			3,118,582				3,118,582				3,118,582				-				-
Total financial assets held in trust under coinsurance agreement		$	8,417,410			$	8,417,410			$	3,118,582			$	-			$	5,298,828
Financial liabilities
Policyholders' account balances		$	417,120,647			$	360,391,979			$	-			$	-			$	360,391,979
Policy claims			3,143,579				3,143,579				-				-				3,143,579
Total financial liabilities		$	420,264,226			$	363,535,558			$	-			$	-			$	363,535,558

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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