Balance Sheet

Statutory Balance Sheet

Admitted Assets

  2023 2022
Investments    
Bonds $ 777,942,837 $ 812,516,468
Preferred stocks 10,317,991 10,137,897
Common stocks    
Unaffiliated 3,828,300 5,591,861
Affiliated 15,486,029 5,077,749
Mortgage loans 2,982,747 3,184,450
Policy loans 6,706,097 6,535,287
Cash and short term 59,963,328 51,959,655
Other invested assets 54,788,340 53,633,006
Receivable for securities 4,260,000 10,000
Premiums due and deferred 30,734,389 42,218,526
Investment income due and accrued 7,827,590 7,478,091
Receivable from affiliates 6,608,720 6,284,499
Due from reinsurance and other companies 19,410,617 19,083,509
State Guaranty Fund Deposits 1,360,413 1,893,131
Federal and state tax recoverable 3,635,043 2,954,738
From separate accounts statement 4,670,404 4,621,153
Admitted disallowed IMR 2,922,299 0
Total Admitted Assets $ 1,013,445,144 $ 1,031,970,859

Liability and Reserves

Policy reserves $ 438,937,966 $ 467,558,518
Claims reserves 29,201,134 27,542,664
Advance premiums and unapplied receipts 27,447,140 2,054,282
Due to reinsurers and other companies 66,980,308 98,366,933
Commissions, taxes and general expenses due and accrued 9,919,397 8,578,825
Interest maintenance reserve 49,057 87,410
Advances from Federal Home Loan Bank 71,600,000 80,000,000
Asset valuation reserve 16,616,281 15,625,473
Federal income tax payable 59,919 489,471
From separate accounts statement 4,670,404 4,621,153
Total Liabilities and Reserves $ 665,481,606 $ 704,924,729

Capital and Surplus

Capital stock -- 1,000,000 shares $ 2,500,000 $ 2,500,000
Preferred stock 3,000,000 3,000,000
Paid-in surplus 2,499,421 2,296,519
Special surplus - admitted IMR asset 2,922,299 0
Unassigned surplus 347,681,471 308,550,223
Treasury stock, at cost (10,639,653) (6,456,720)
Total Capital and Surplus $ 347,963,538 $ 309,890,022
Total Liabilities, Capital and Surplus $ 1,013,445,144 $ 1,006,887,104