v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Operating activities          
Net income $ 1,594,661 $ 2,574,733 $ 3,650,416 $ 3,943,351  
Adjustments to reconcile net income to net cash provided by operating activities:          
Accretion of discount on investments     (1,658,533) (1,400,000)  
Net realized investment gains 91,816 22,958 (78,297) (839,246)  
Amortization of policy acquisition cost 2,028,145 2,415,015 3,824,306 4,740,915  
Policy acquisition costs deferred (3,845,755) (3,233,202) (7,025,076) (6,106,464)  
Amortization of value of insurance business acquired 88,192 93,036 176,383 186,072  
Allowance for mortgage loan losses     33,161 204,909  
Provision for deferred federal income tax expense (benefit) 236,617 (47,452) 532,235 109,576  
Interest credited to policyholders 4,969,653 4,818,377 9,725,657 9,589,981  
Change in assets and liabilities:          
Accrued investment income     (223,046) (1,020,609)  
Recoverable from reinsurers     204,180 166,163  
Assets held in trust under coinsurance agreement     7,041,506 5,585,504  
Agents' balances and due premiums     (343,927) 39,023  
Other assets (excludes change in receivable for securities sold of $8,561 in 2025)     519,229 (1,091,976)  
Future policy benefits     6,502,760 6,186,762  
Policy claims     (74,441) 174,804  
Other policy liabilities     114,299 95,181  
Other liabilities (excludes change in payable for securities purchased of $10,088 in 2025)     2,578,850 (3,082,972)  
Net cash provided by operating activities     25,499,662 17,480,974  
Investing activities          
Purchases of fixed maturity securities     (39,260,942) (50,575,278)  
Maturities of fixed maturity securities     3,375,000 250,000  
Sales of fixed maturity securities     9,026,062 55,446,776  
Purchases of equity securities     (212,556) (215,855)  
Proceeds from realized capital gains, equity securities     0 6,944  
Joint venture distributions     73,477 67,674  
Purchases of mortgage loans     (45,003,735) (99,467,865)  
Payments on mortgage loans     38,148,884 58,809,803  
Purchases of other long-term investments     (2,278,034) (1,823,500)  
Payments on other long-term investments     6,744,100 7,702,946  
Sale of real estate     184,832 294,982  
Policy loans     (590,530) (341,116)  
Net cash used in investing activities     (29,793,442) (29,825,840)  
Financing activities          
Policyholders' account deposits     40,372,473 18,392,643  
Policyholders' account withdrawals     (35,590,495) (32,789,147)  
Net cash used in financing activities     4,781,978 (14,396,504)  
Decrease in cash and cash equivalents     488,198 (26,741,370)  
Cash and cash equivalents, beginning of period     39,496,427 64,344,122 $ 64,344,122
Cash and cash equivalents, end of period $ 39,984,625 $ 37,602,752 39,984,625 37,602,752 $ 39,496,427
Receivables Excluding Policy Loan Receivables [Member]          
Investing activities          
Net change in receivable and payable for securities sold and purchased     $ 0 $ 18,649