Note 2 - Investments (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Notes Tables |
|
| Debt Securities, Available-for-Sale [Table Text Block] |
| |
|
June 30, 2026
|
|
| |
|
Cost or
|
|
|
Gross
|
|
|
Gross
|
|
|
|
|
|
| |
|
Amortized
|
|
|
Unrealized
|
|
|
Unrealized
|
|
|
|
|
|
| |
|
Cost
|
|
|
Gains
|
|
|
Losses
|
|
|
Fair Value
|
|
| |
|
(unaudited)
|
|
| Available for sale: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed maturities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US Treasury securities
|
|
$ |
818,242 |
|
|
$ |
- |
|
|
$ |
(88,408 |
) |
|
$ |
729,834 |
|
|
Corporate bonds
|
|
|
29,646,466 |
|
|
|
113,903 |
|
|
|
(2,702,170 |
) |
|
|
27,058,199 |
|
|
Municipal bonds
|
|
|
6,325,142 |
|
|
|
5,633 |
|
|
|
(570,396 |
) |
|
|
5,760,379 |
|
|
Redeemable preferred stock
|
|
|
1,671,335 |
|
|
|
717 |
|
|
|
(165,189 |
) |
|
|
1,506,863 |
|
|
Term loans
|
|
|
13,093,474 |
|
|
|
35,672 |
|
|
|
(161,058 |
) |
|
|
12,968,088 |
|
|
Mortgage backed and asset backed securities
|
|
|
41,000,206 |
|
|
|
417,142 |
|
|
|
(754,545 |
) |
|
|
40,662,803 |
|
|
Total available for sale
|
|
$ |
92,554,865 |
|
|
$ |
573,067 |
|
|
$ |
(4,441,766 |
) |
|
$ |
88,686,166 |
|
| |
|
December 31, 2025
|
|
| |
|
Cost or
|
|
|
Gross
|
|
|
Gross
|
|
|
|
|
|
| |
|
Amortized
|
|
|
Unrealized
|
|
|
Unrealized
|
|
|
|
|
|
| |
|
Cost
|
|
|
Gains
|
|
|
Losses
|
|
|
Fair Value
|
|
|
Available for sale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed maturities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US Treasury securities
|
|
$ |
810,255 |
|
|
$ |
1,562 |
|
|
$ |
(78,925 |
) |
|
$ |
732,892 |
|
|
Corporate bonds
|
|
|
30,702,897 |
|
|
|
218,634 |
|
|
|
(2,622,315 |
) |
|
|
28,299,216 |
|
|
Municipal bonds
|
|
|
6,341,809 |
|
|
|
1,735 |
|
|
|
(536,408 |
) |
|
|
5,807,136 |
|
|
Redeemable preferred stock
|
|
|
2,142,141 |
|
|
|
3,788 |
|
|
|
(147,491 |
) |
|
|
1,998,438 |
|
|
Term loans
|
|
|
11,187,284 |
|
|
|
10,032 |
|
|
|
(191,512 |
) |
|
|
11,005,804 |
|
|
Mortgage backed and asset backed securities
|
|
|
38,852,468 |
|
|
|
638,213 |
|
|
|
(799,463 |
) |
|
|
38,691,218 |
|
|
Total available for sale
|
|
$ |
90,036,854 |
|
|
$ |
873,964 |
|
|
$ |
(4,376,114 |
) |
|
$ |
86,534,704 |
|
|
| Investments Classified by Contractual Maturity Date [Table Text Block] |
| |
|
As of June 30, 2026
|
|
|
As of December 31, 2025
|
|
| |
|
Amortized Cost
|
|
|
Fair Value
|
|
|
Amortized Cost
|
|
|
Fair Value
|
|
| |
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
| Amounts maturing in: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One year or less
|
|
$ |
374,537 |
|
|
$ |
373,419 |
|
|
$ |
1,074,089 |
|
|
$ |
1,072,360 |
|
|
After one year through five years
|
|
|
26,955,703 |
|
|
|
26,763,606 |
|
|
|
23,367,252 |
|
|
|
23,263,307 |
|
|
After five years through ten years
|
|
|
3,541,709 |
|
|
|
3,444,331 |
|
|
|
4,878,273 |
|
|
|
4,797,585 |
|
|
More than 10 years
|
|
|
19,011,375 |
|
|
|
15,935,144 |
|
|
|
19,722,631 |
|
|
|
16,711,796 |
|
|
Redeemable preferred stocks
|
|
|
1,671,335 |
|
|
|
1,506,863 |
|
|
|
2,142,141 |
|
|
|
1,998,438 |
|
|
Mortgage backed and asset backed securities
|
|
|
41,000,206 |
|
|
|
40,662,803 |
|
|
|
38,852,468 |
|
|
|
38,691,218 |
|
|
Total amortized cost and fair value
|
|
$ |
92,554,865 |
|
|
$ |
88,686,166 |
|
|
$ |
90,036,854 |
|
|
$ |
86,534,704 |
|
|
| Realized Gain (Loss) on Investments [Table Text Block] |
| |
|
Six Months Ended June 30,
|
|
| |
|
(unaudited)
|
|
| |
|
2026
|
|
|
2025
|
|
|
Gross gains
|
|
$ |
41,566 |
|
|
$ |
- |
|
|
Gross losses
|
|
|
(172,090 |
) |
|
|
(500,890 |
) |
|
Net security losses
|
|
$ |
(130,524 |
) |
|
$ |
(500,890 |
) |
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
Mortgage loans on real estate
|
|
|
(63,996 |
) |
|
|
(10,723 |
) |
|
Increase in allowance for credit losses
|
|
$ |
(63,996 |
) |
|
$ |
(10,723 |
) |
| |
|
Three Months Ended June 30,
|
|
| |
|
(unaudited)
|
|
| |
|
2026
|
|
|
2025
|
|
|
Gross gains
|
|
$ |
24,552 |
|
|
$ |
- |
|
|
Gross losses
|
|
|
(136,534 |
) |
|
|
(24,744 |
) |
|
Net security losses
|
|
$ |
(111,982 |
) |
|
$ |
(24,744 |
) |
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
Mortgage loans on real estate
|
|
|
24,505 |
|
|
|
422,252 |
|
|
Decrease in allowance for credit losses
|
|
$ |
24,505 |
|
|
$ |
422,252 |
|
|
| Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block] |
| |
|
Less than 12 months
|
|
|
Greater than 12 months
|
|
|
Total
|
|
| |
|
Fair
|
|
|
Unrealized
|
|
|
Fair
|
|
|
Unrealized
|
|
|
Fair
|
|
|
Unrealized
|
|
| |
|
Value
|
|
|
Loss
|
|
|
Value
|
|
|
Loss
|
|
|
Value
|
|
|
Loss
|
|
|
June 30, 2026
|
|
| |
|
(unaudited)
|
|
| Available for sale: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed maturities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US Treasury securities
|
|
$ |
448,093 |
|
|
$ |
(2,808 |
) |
|
$ |
281,741 |
|
|
$ |
(85,600 |
) |
|
$ |
729,834 |
|
|
$ |
(88,408 |
) |
|
Corporate bonds
|
|
|
11,180,867 |
|
|
|
(123,607 |
) |
|
|
11,495,820 |
|
|
|
(2,578,563 |
) |
|
|
22,676,687 |
|
|
|
(2,702,170 |
) |
|
Municipal bonds
|
|
|
1,230,074 |
|
|
|
(31,709 |
) |
|
|
4,049,671 |
|
|
|
(538,687 |
) |
|
|
5,279,745 |
|
|
|
(570,396 |
) |
|
Redeemable preferred stock
|
|
|
74,719 |
|
|
|
(54 |
) |
|
|
1,357,520 |
|
|
|
(165,135 |
) |
|
|
1,432,239 |
|
|
|
(165,189 |
) |
|
Term loans
|
|
|
796,505 |
|
|
|
(3,581 |
) |
|
|
4,139,293 |
|
|
|
(157,477 |
) |
|
|
4,935,798 |
|
|
|
(161,058 |
) |
|
Mortgage backed and asset backed securities
|
|
|
14,257,718 |
|
|
|
(123,747 |
) |
|
|
4,756,284 |
|
|
|
(630,798 |
) |
|
|
19,014,002 |
|
|
|
(754,545 |
) |
|
Total fixed maturities
|
|
$ |
27,987,976 |
|
|
$ |
(285,506 |
) |
|
$ |
26,080,329 |
|
|
$ |
(4,156,260 |
) |
|
$ |
54,068,305 |
|
|
$ |
(4,441,766 |
) |
| |
|
Less than 12 months
|
|
|
Greater than 12 months
|
|
|
Total
|
|
| |
|
Fair
|
|
|
Unrealized
|
|
|
Fair
|
|
|
Unrealized
|
|
|
Fair
|
|
|
Unrealized
|
|
| |
|
Value
|
|
|
Loss
|
|
|
Value
|
|
|
Loss
|
|
|
Value
|
|
|
Loss
|
|
|
December 31, 2025
|
|
|
Available for sale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed maturities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US Treasury securities
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
280,278 |
|
|
$ |
(78,925 |
) |
|
$ |
280,278 |
|
|
$ |
(78,925 |
) |
|
Corporate bonds
|
|
|
8,857,877 |
|
|
|
(122,197 |
) |
|
|
12,403,317 |
|
|
|
(2,500,118 |
) |
|
|
21,261,194 |
|
|
|
(2,622,315 |
) |
|
Municipal bonds
|
|
|
1,163,445 |
|
|
|
(27,032 |
) |
|
|
4,293,247 |
|
|
|
(509,376 |
) |
|
|
5,456,692 |
|
|
|
(536,408 |
) |
|
Redeemable preferred stock
|
|
|
- |
|
|
|
- |
|
|
|
1,521,302 |
|
|
|
(147,491 |
) |
|
|
1,521,302 |
|
|
|
(147,491 |
) |
|
Term loans
|
|
|
897,477 |
|
|
|
(1,338 |
) |
|
|
6,843,379 |
|
|
|
(190,174 |
) |
|
|
7,740,856 |
|
|
|
(191,512 |
) |
|
Mortgage backed and asset backed securities
|
|
|
13,117,705 |
|
|
|
(178,342 |
) |
|
|
6,120,275 |
|
|
|
(621,121 |
) |
|
|
19,237,980 |
|
|
|
(799,463 |
) |
|
Total fixed maturities
|
|
$ |
24,036,504 |
|
|
$ |
(328,909 |
) |
|
$ |
31,461,798 |
|
|
$ |
(4,047,205 |
) |
|
$ |
55,498,302 |
|
|
$ |
(4,376,114 |
) |
|
| Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] |
| |
|
June 30, 2026
|
|
|
December 31, 2025
|
|
| |
|
(unaudited)
|
|
|
|
|
|
| Commercial mortgage loans by property type |
|
|
|
|
|
|
|
|
|
Mixed use
|
|
$ |
4,574,802 |
|
|
$ |
4,352,463 |
|
|
Lodging
|
|
|
2,340,038 |
|
|
|
2,819,346 |
|
|
Multi-property
|
|
|
1,782,949 |
|
|
|
866,514 |
|
|
Multi-family
|
|
|
2,408,915 |
|
|
|
2,678,271 |
|
|
Single-family
|
|
|
82,000 |
|
|
|
61,000 |
|
|
Industrial
|
|
|
800,000 |
|
|
|
800,000 |
|
|
Retail/Office
|
|
|
20,591,672 |
|
|
|
12,166,561 |
|
|
Total commercial mortgages
|
|
$ |
32,580,376 |
|
|
$ |
23,744,155 |
|
| |
|
|
|
|
|
|
|
|
|
Allowance for credit losses
|
|
|
(163,114 |
) |
|
|
(99,118 |
) |
| |
|
|
|
|
|
|
|
|
|
Carrying value
|
|
$ |
32,417,262 |
|
|
$ |
23,645,037 |
|
|
| Schedule of Mortage Loans by Loan-to-Value Ratio [Table Text Block] |
| |
|
June 30, 2026
|
|
|
December 31, 2025
|
|
| |
|
(unaudited)
|
|
|
|
|
|
| Loan to value ratio |
|
|
|
|
|
|
|
|
|
Over 80%
|
|
$ |
- |
|
|
$ |
265,283 |
|
|
Over 70 to 80%
|
|
|
2,614,617 |
|
|
|
892,800 |
|
|
Over 60 to 70%
|
|
|
16,114,066 |
|
|
|
8,868,648 |
|
|
Over 50 to 60%
|
|
|
5,391,567 |
|
|
|
5,700,000 |
|
|
Over 40 to 50%
|
|
|
4,226,960 |
|
|
|
4,312,074 |
|
|
Over 30 to 40%
|
|
|
3,657,299 |
|
|
|
1,705,350 |
|
|
Over 20 to 30%
|
|
|
75,867 |
|
|
|
1,500,000 |
|
|
Over 10 to 20%
|
|
|
500,000 |
|
|
|
500,000 |
|
|
Total
|
|
$ |
32,580,376 |
|
|
$ |
23,744,155 |
|
| |
|
|
|
|
|
|
|
|
|
Allowance for credit losses
|
|
|
(163,114 |
) |
|
|
(99,118 |
) |
|
Carrying value
|
|
$ |
32,417,262 |
|
|
$ |
23,645,037 |
|
|
| Schedule of Mortgage Loans by Maturity Date [Table Text Block] |
| |
|
June 30, 2026
|
|
|
December 31, 2025
|
|
| |
|
(unaudited)
|
|
|
|
|
|
| Maturity Date |
|
|
|
|
|
|
|
|
|
One year or less
|
|
$ |
8,776,813 |
|
|
$ |
8,728,034 |
|
|
After one year through five years
|
|
|
23,803,563 |
|
|
|
15,016,121 |
|
|
Total
|
|
$ |
32,580,376 |
|
|
$ |
23,744,155 |
|
| |
|
|
|
|
|
|
|
|
|
Allowance for credit losses
|
|
|
(163,114 |
) |
|
|
(99,118 |
) |
|
Carrying value
|
|
$ |
32,417,262 |
|
|
$ |
23,645,037 |
|
|
| Debt Securities, Available-for-Sale, Allowance for Credit Loss [Table Text Block] |
| |
|
Six Months Ended June 30, 2026
|
|
|
Six Months Ended June 30, 2025
|
|
| |
|
Specific Allowance
|
|
|
General Allowance
|
|
|
Specific Allowance
|
|
|
General Allowance
|
|
| |
|
(unaudited)
|
|
|
(unaudited)
|
|
|
Beginning allowance balance
|
|
$ |
- |
|
|
$ |
99,118 |
|
|
$ |
- |
|
|
$ |
55,685 |
|
|
Change in provision for credit losses
|
|
|
46,492 |
|
|
|
63,996 |
|
|
|
420,013 |
|
|
|
10,723 |
|
|
Charge-offs
|
|
|
(46,492 |
) |
|
|
- |
|
|
|
(420,013 |
) |
|
|
- |
|
|
Ending Allowance
|
|
$ |
- |
|
|
$ |
163,114 |
|
|
$ |
- |
|
|
$ |
66,408 |
|
| |
|
Three Months Ended June 30, 2026
|
|
|
Three Months Ended June 30, 2025
|
|
| |
|
Specific Allowance
|
|
|
General Allowance
|
|
|
Specific Allowance
|
|
|
General Allowance
|
|
| |
|
(unaudited)
|
|
|
(unaudited)
|
|
|
Beginning allowance balance
|
|
$ |
- |
|
|
$ |
66,408 |
|
|
$ |
250,000 |
|
|
$ |
238,660 |
|
|
Charge-offs
|
|
|
(46,492 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Change in provision for credit losses
|
|
|
46,492 |
|
|
|
96,706 |
|
|
|
(250,000 |
) |
|
|
(172,252 |
) |
|
Ending Allowance
|
|
$ |
- |
|
|
$ |
163,114 |
|
|
$ |
- |
|
|
$ |
66,408 |
|
|
| Financing Receivable, Past Due [Table Text Block] |
| |
|
As of June 30, 2026
|
|
| |
|
Outstanding Balance
|
|
|
Allowance for Credit
Losses
|
|
|
Net Carrying Amount
|
|
| |
|
(unaudited)
|
|
| Aging Category |
|
|
|
|
|
|
|
|
|
|
|
|
|
Not past due (Current)
|
|
$ |
30,128,427 |
|
|
$ |
(153,296 |
) |
|
$ |
29,975,131 |
|
|
1-30 days past due
|
|
|
2,000,000 |
|
|
|
(9,800 |
) |
|
$ |
1,990,200 |
|
|
31-60 days past due
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
61-90 day past due
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Over 90 days past due
|
|
|
451,949 |
|
|
|
(18 |
) |
|
|
451,931 |
|
|
Mortgage loan carrying value
|
|
$ |
32,580,376 |
|
|
$ |
(163,114 |
) |
|
$ |
32,417,262 |
|
|
| Investment Income [Table Text Block] |
| |
|
Six Months Ended June 30,
|
|
| |
|
2026
|
|
|
2025
|
|
| |
|
(unaudited)
|
|
|
Fixed maturities
|
|
$ |
2,873,250 |
|
|
$ |
2,854,332 |
|
|
Mortgages
|
|
|
1,085,379 |
|
|
|
1,039,737 |
|
|
Equity securities
|
|
|
101,713 |
|
|
|
134,503 |
|
|
Other invested assets
|
|
|
72,608 |
|
|
|
62,113 |
|
|
Cash and cash equivalents
|
|
|
195,990 |
|
|
|
107,961 |
|
| |
|
|
4,328,940 |
|
|
|
4,198,646 |
|
|
Less investment expenses
|
|
|
(270,866 |
) |
|
|
(483,256 |
) |
| |
|
$ |
4,058,074 |
|
|
$ |
3,715,390 |
|
| |
|
Three Months Ended June 30,
|
|
| |
|
2026
|
|
|
2025
|
|
| |
|
(unaudited)
|
|
|
Fixed maturities
|
|
$ |
1,482,256 |
|
|
$ |
1,516,706 |
|
|
Mortgages
|
|
|
535,531 |
|
|
|
598,842 |
|
|
Equity securities
|
|
|
49,709 |
|
|
|
65,026 |
|
|
Other invested assets
|
|
|
37,351 |
|
|
|
32,602 |
|
|
Cash and cash equivalents
|
|
|
83,164 |
|
|
|
41,629 |
|
| |
|
|
2,188,011 |
|
|
|
2,254,805 |
|
|
Less investment expenses
|
|
|
(161,158 |
) |
|
|
(264,143 |
) |
| |
|
$ |
2,026,853 |
|
|
$ |
1,990,662 |
|
|
| Gain (Loss) on Securities [Table Text Block] |
| |
|
Six Months Ended June 30,
|
|
| |
|
(unaudited)
|
|
| |
|
2026
|
|
|
2025
|
|
|
Recognized gains on sale of investments
|
|
$ |
28,649 |
|
|
$ |
(80,877 |
) |
|
Realized losses on charge offs of investments
|
|
|
(159,173 |
) |
|
|
(420,013 |
) |
|
Change in allowance for credit loss recognized in earnings
|
|
|
(63,996 |
) |
|
|
(10,723 |
) |
|
Unrealized net gains recognized in earnings
|
|
|
216,742 |
|
|
|
575,798 |
|
|
Embedded derivative
|
|
|
37,732 |
|
|
|
(393,963 |
) |
|
Net investment losses
|
|
$ |
59,954 |
|
|
$ |
(329,778 |
) |
| |
|
Three Months Ended June 30,
|
|
| |
|
(unaudited)
|
|
| |
|
2026
|
|
|
2025
|
|
|
Recognized losses on sale of investments
|
|
$ |
47,191 |
|
|
$ |
(24,744 |
) |
|
Realized losses on charge offs of investments
|
|
|
(159,173 |
) |
|
|
- |
|
|
Change in allowance for credit loss recognized in earnings
|
|
|
24,505 |
|
|
|
422,252 |
|
|
Unrealized net gains recognized in earnings
|
|
|
262,352 |
|
|
|
597,588 |
|
|
Embedded derivative
|
|
|
(3,114 |
) |
|
|
(275,201 |
) |
|
Net investment gains
|
|
$ |
171,761 |
|
|
$ |
719,895 |
|
|