ICC (ICCH) 10-Q 14 Nov 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 07, 2024
Document Information [Line Items]
Entity Central Index Key	0001681903
Entity Registrant Name	ICC Holdings, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-38046
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	81-3359409
Entity Address, Address Line One	225 20th Street
Entity Address, City or Town	Rock Island
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	61201
City Area Code	309
Local Phone Number	793-1700
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ICCH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		3,138,580

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)		Sep. 30, 2024	Dec. 31, 2023
Investments and cash:
Fixed maturity securities (amortized cost of $120,448,405 at 9/30/2024 and $119,336,041 at 12/31/2023)		$ 114,743,833	$ 110,955,697
Other invested assets, net of allowances for credit losses of $310,000 at 9/30/2024 and $39,000 at 12/31/2023		13,958,375	8,898,409
Property held for investment, at cost, net of accumulated depreciation of $719,900 at 9/30/2024 and $682,402 at 12/31/2023		5,904,718	5,910,864
Cash and cash equivalents		11,011,618	1,478,135
Total investments and cash		163,013,156	142,331,022
Accrued investment income		1,042,274	915,156
Premiums and reinsurance balances receivable, net of allowances for credit losses of $130,000 at 9/30/2024 and $143,000 at 12/31/2023		38,062,859	37,220,433
Ceded unearned premiums		774,949	755,099
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for credit losses of $80,000 at 9/30/2024 and $82,000 at 12/31/2023		12,519,808	12,736,579
Federal income taxes		2,544,027	2,775,366
Deferred policy acquisition costs, net		9,178,039	8,552,459
Property and equipment, at cost, net of accumulated depreciation of $7,381,278 at 9/30/2024 and $6,990,076 at 12/31/2023		3,271,851	3,325,322
Other assets, net of allowances for credit losses of $2,000 at 9/30/2024 and $5,000 at 12/31/2023		2,520,452	2,405,577
Total assets		232,927,415	211,017,013
Liabilities:
Unpaid losses and settlement expenses		83,582,487	71,919,585
Unearned premiums		51,295,631	47,259,637
Reinsurance balances payable		1,020,657	1,132,301
Corporate debt		15,000,000	15,000,000
Accrued expenses		7,696,366	7,442,617
Other liabilities		1,228,786	1,259,324
Total liabilities		159,823,927	144,013,464
Equity:
Common stock	[1],[2],[3]	35,000	35,000
Treasury stock, at cost	[1],[4]	(5,727,278)	(5,710,324)
Additional paid-in capital		33,597,942	33,330,846
Accumulated other comprehensive (loss), net of tax		(4,506,518)	(6,621,336)
Retained earnings		51,403,889	47,844,368
Less: Unearned Employee Stock Ownership Plan shares at cost	[5]	(1,699,547)	(1,875,005)
Total equity		73,103,488	67,003,549
Total liabilities and equity		232,927,415	211,017,013
Common Stock [Member]
Investments and cash:
Stocks at fair value		14,470,556	12,191,621
Preferred Stock [Member]
Investments and cash:
Stocks at fair value		$ 2,924,056	$ 2,896,296
[1]2024 – 361,420 shares and 2023 – 361,024 shares[2]Par value $0.01; authorized: 2024 and 2023 - 10,000,000 shares; issued: 2024 – 3,500,000 shares and 2023 – 3,500,000 shares; outstanding: 2024 – 3,138,580 and 2023 – 3,138,976 shares[3]Par value $0.01; authorized: 2024 and 2023 - 10,000,000 shares; issued: 2024 – 3,500,000 shares and 2023 – 3,500,000 shares; outstanding: 2024 – 3,142,973 and 2023 – 3,138,976 shares[4]2024 – 357,027 shares and 2023 – 361,024 shares[5]2024 – 175,844 shares and 2023 – 187,498 shares

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Fixed maturity securities, amortized cost	$ 120,448,405	$ 119,336,041
Other invested assets, allowances for credit losses	310,000	39,000
Property held for investment, accumulated depreciation	719,900	682,402
Premiums and reinsurance balances receivable, allowances for uncollectible amounts	130,000	143,000
Reinsurance balances recoverable on unpaid losses and settlement expenses, allowances for uncollectible amounts	80,000	82,000
Property and equipment, at cost, accumulated depreciation	7,381,278	6,990,076
Allowance for Credit Loss, Receivable, Other, Current	$ 2,000	$ 5,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	3,500,000	3,500,000
Common stock, shares outstanding (in shares)	3,138,580	3,138,976
Treasury stock, shares (in shares)	361,420	361,024
Unearned Employee Stock Ownership Plan (in shares)	175,844	187,498

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings and Comprehensive Earnings (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net premiums earned	$ 21,711,407	$ 19,233,517	$ 62,331,966	$ 55,528,867
Net investment income	1,556,776	1,342,258	4,536,992	3,798,432
Net realized investment gains	437,258	199,928	584,925	268,375
Net unrealized gains (losses) on investments	613,594	(1,062,332)	2,134,454	279,100
Other	56,380	51,000	46,283	160,714
Consolidated revenues	24,375,415	19,764,371	69,634,620	60,035,488
Losses and settlement expenses	14,144,203	13,436,464	41,034,199	36,698,631
Policy acquisition costs and other operating expenses	7,301,724	7,029,218	23,046,544	20,823,605
Interest expense on debt	46,409	46,409	138,218	137,713
General corporate expenses	264,274	220,093	870,968	616,304
Total expenses	21,756,610	20,732,184	65,089,929	58,276,253
Earnings (loss) before income taxes	2,618,805	(967,813)	4,544,691	1,759,235
Total income tax expense (benefit)	566,613	(198,850)	985,170	363,164
Net earnings (loss)	2,052,192	(768,963)	3,559,521	1,396,071
Other comprehensive earnings (loss), net of tax	3,234,962	(3,025,254)	2,114,818	(2,193,230)
Comprehensive earnings (loss)	$ 5,287,154	$ (3,794,217)	$ 5,674,339	$ (797,159)
Basic:
Basic net earnings (loss) per share (in dollars per share)	$ 0.69	$ (0.26)	$ 1.2	$ 0.47
Diluted:
Diluted net earnings (loss) per share (in dollars per share)	$ 0.69	$ (0.26)	$ 1.2	$ 0.47
Weighted average number of common shares outstanding:
Basic (in shares)	2,964,743	2,945,199	2,954,852	2,945,686
Diluted (in shares)	2,986,401	2,968,808	2,976,510	2,969,295
Net premiums earned	$ 21,711,407	$ 19,233,517	$ 62,331,966	$ 55,528,867
Net investment income	1,556,776	1,342,258	4,536,992	3,798,432
Net realized investment gains	437,258	199,928	584,925	268,375
Net unrealized gains (losses) on investments	613,594	(1,062,332)	2,134,454	279,100
Other	56,380	51,000	46,283	160,714
Consolidated revenues	24,375,415	19,764,371	69,634,620	60,035,488
Losses and settlement expenses	14,144,203	13,436,464	41,034,199	36,698,631
Policy acquisition costs and other operating expenses	7,301,724	7,029,218	23,046,544	20,823,605
Interest expense on debt	46,409	46,409	138,218	137,713
General corporate expenses	264,274	220,093	870,968	616,304
Total expenses	21,756,610	20,732,184	65,089,929	58,276,253
Earnings (loss) before income taxes	2,618,805	(967,813)	4,544,691	1,759,235
Total income tax expense (benefit)	566,613	(198,850)	985,170	363,164
Net earnings (loss)	2,052,192	(768,963)	3,559,521	1,396,071
Other comprehensive earnings (loss), net of tax	3,234,962	(3,025,254)	2,114,818	(2,193,230)
Comprehensive earnings (loss)	$ 5,287,154	$ (3,794,217)	$ 5,674,339	$ (797,159)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Treasury Stock, Common [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Unearned ESOP [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Treasury Stock, Common [Member]		Unearned ESOP [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022	$ 0	$ 0	$ 0	$ 0	$ (113,760)	$ 0	$ (113,760)
Balance at Dec. 31, 2022								$ 35,000	$ (5,463,535)		$ (2,109,375)	$ 33,119,125	$ 43,701,233	$ (8,841,517)	$ 60,440,931
Purchase of treasury stock								0	(46,334)		0	0	0	0	(46,334)
Net earnings (loss)								0	0		0	0	1,578,545	0	1,578,545
Other comprehensive earnings (loss), net of tax								0	0		0	0	0	1,596,353	1,596,353
Restricted stock unit expense								0	0	[1]	0	52,850	0	0	52,850
ESOP compensation expense								0	0		57,790	32,154	0	0	89,943
Balance at Mar. 31, 2023								35,000	(5,509,869)		(2,051,585)	33,204,129	45,166,018	(7,245,164)	63,598,529
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022	$ 0	$ 0	$ 0	$ 0	$ (113,760)	$ 0	$ (113,760)
Balance at Dec. 31, 2022								35,000	(5,463,535)		(2,109,375)	33,119,125	43,701,233	(8,841,517)	60,440,931
Net earnings (loss)															1,396,071
Other comprehensive earnings (loss), net of tax														(2,193,230)
Balance at Sep. 30, 2023								35,000	(5,700,588)		(1,934,079)	33,237,320	44,983,544	(11,034,747)	59,586,450
Balance at Mar. 31, 2023								35,000	(5,509,869)		(2,051,585)	33,204,129	45,166,018	(7,245,164)	63,598,529
Purchase of treasury stock								0	(220,903)		0	0	0	0	(220,903)
Net earnings (loss)								0	0		0	0	586,489	0	586,489
Other comprehensive earnings (loss), net of tax								0	0		0	0	0	(764,329)	(764,329)
Restricted stock unit expense								0	158,674		0	(99,303)	0	0	59,371
ESOP compensation expense								0	0		58,432	36,451	0	0	94,884
Balance at Jun. 30, 2023								35,000	(5,572,098)		(1,993,153)	33,141,277	45,752,507	(8,009,493)	63,354,040
Purchase of treasury stock								0	(128,490)		0	0	0	0	(128,490)
Net earnings (loss)								0	0		0	0	(768,963)	0	(768,963)
Restricted stock unit expense								0	0		0	60,032	0	0	60,032
ESOP compensation expense								0	0		59,074	36,011	0	0	95,085
Other comprehensive earnings (loss), net of tax								0	0		0	0	0	(3,025,254)	(3,025,254)
Balance at Sep. 30, 2023								35,000	(5,700,588)		(1,934,079)	33,237,320	44,983,544	(11,034,747)	59,586,450
Balance at Dec. 31, 2023								35,000	(5,710,324)		(1,875,005)	33,330,846	47,844,368	(6,621,336)	67,003,549
Purchase of treasury stock								0	(66,655)		0	0	0	0	(66,655)
Net earnings (loss)								0	0		0	0	2,239,205	0	2,239,205
Other comprehensive earnings (loss), net of tax								0	0		0	0	0	(640,112)	(640,112)
Restricted stock unit expense								0	0	[1]	0	59,380	0	0	59,380
ESOP compensation expense								0	0		58,273	31,771	0	0	90,044
Balance at Mar. 31, 2024								35,000	(5,776,979)		(1,816,732)	33,421,997	50,083,573	(7,261,448)	68,685,411
Balance at Dec. 31, 2023								35,000	(5,710,324)		(1,875,005)	33,330,846	47,844,368	(6,621,336)	67,003,549
Net earnings (loss)															3,559,521
Other comprehensive earnings (loss), net of tax														2,114,818
Balance at Sep. 30, 2024								35,000	(5,727,278)		(1,699,547)	33,597,942	51,403,889	(4,506,518)	73,103,488
Balance at Mar. 31, 2024								35,000	(5,776,979)		(1,816,732)	33,421,997	50,083,573	(7,261,448)	68,685,411
Purchase of treasury stock								0	(124,667)		0	0	0	0	(124,667)
Net earnings (loss)								0	0		0	0	(731,876)	0	(731,876)
Other comprehensive earnings (loss), net of tax								0	0		0	0	0	(480,032)	(480,032)
Restricted stock unit expense								0	174,368		0	(11,226)	0	0	163,142
ESOP compensation expense								0	0		58,272	43,427	0	0	101,699
Balance at Jun. 30, 2024								35,000	(5,727,278)		(1,758,460)	33,454,198	49,351,697	(7,741,480)	67,613,677
Net earnings (loss)								0	0		0	0	2,052,192	0	2,052,192
Other comprehensive earnings (loss), net of tax								0	0		0	0	0	3,234,962	3,234,962
Restricted stock unit expense								0	0		0	68,421	0	0	68,421
ESOP compensation expense								0	0		58,913	75,323	0	0	134,236
Balance at Sep. 30, 2024								$ 35,000	$ (5,727,278)		$ (1,699,547)	$ 33,597,942	$ 51,403,889	$ (4,506,518)	$ 73,103,488
[1]Amount represents restricted stock units that have fully vested in the period.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net earnings	$ 3,559,521	$ 1,396,071
Adjustments to reconcile net earnings to net cash provided by operating activities
Net realized investment gains	(584,925)	(268,375)
Net unrealized gains on investments	(2,134,454)	(279,100)
Depreciation	616,219	541,656
Deferred income tax	(988)	(144,279)
Amortization of bond premium and discount	(13,026)	57,647
Stock-based compensation expense	616,922	452,165
Change in:
Accrued investment income	(127,118)	(120,242)
Premiums and reinsurance balances receivable	(842,426)	(4,455,472)
Ceded unearned premiums	(19,850)	201,137
Reinsurance balances recoverable	216,771	(2,837,908)
Deferred policy acquisition costs	(625,580)	(1,180,463)
Unpaid losses and settlement expenses	11,662,902	12,928,415
Unearned premiums	4,035,994	5,439,877
Reinsurance balances payable	(111,644)	(369,510)
Accrued expenses	253,749	(56,038)
Current federal income tax	(329,837)	(323,761)
Other	(145,408)	(359,595)
Net cash provided by operating activities	16,026,822	10,622,225
Cash flows from investing activities:
Fixed maturity securities	(13,059,136)	(18,181,637)
Other invested assets	(6,176,600)	(3,346,778)
Property held for investment	(626,166)	(1,138,302)
Property and equipment	(429,204)	(462,729)
Proceeds from sales, maturities and calls of:
Fixed maturity securities	11,985,012	9,785,891
Other invested assets	1,403,809	354,276
Property held for investment	612,017	1,545,977
Property and equipment	4,138	17,789
Net cash used in investing activities	(6,302,017)	(10,700,926)
Cash flows from financing activities:
Purchase of treasury stock	(191,322)	(395,727)
Net cash used in financing activities	(191,322)	(395,727)
Net increase (decrease) in cash and cash equivalents	9,533,483	(474,428)
Cash and cash equivalents at beginning of year	1,478,135	3,139,986
Cash and cash equivalents at end of period	11,011,618	2,665,558
Supplemental information:
Federal income tax paid	725,000	180,000
Interest paid	138,200	132,400
Common Stock [Member]
Cash flows from investing activities:
Equity securities	(2,264,086)	(3,158,620)
Proceeds from sales, maturities and calls of:
Equity securities	2,033,174	3,831,416
Preferred Stock [Member]
Cash flows from investing activities:
Equity securities	(464,619)	(285,649)
Proceeds from sales, maturities and calls of:
Equity securities	$ 679,644	$ 337,440

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. DESCRIPTION OF BUSINESS ICC Holdings, Inc. is a Pennsylvania corporation that was organized in 2016. 10 October 2023; We are a specialty insurance carrier primarily underwriting commercial multi-peril, liquor liability, workers’ compensation, and umbrella liability coverages for the food and beverage industry through our subsidiary insurance company, ICC. ICC writes business in Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Ohio, Pennsylvania, Tennessee, Utah, and Wisconsin and markets through independent agents. Approximately 23.0% and 23.1% of the premium is written in Illinois for the three September 30, 2024 2023 nine September 30, 2024 2023 one On June 8, 2024, 14A October 28, 2024. B. PRINCIPLES OF CONSOLIDATION AND BASIS OF PRESENTATION The unaudited condensed consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial reporting and with the instructions to Form 10 not 10 December 31, 2023 2023 10 not September 30, 2024 not The preparation of the unaudited condensed consolidated interim financial statements requires management to make estimates and assumptions relating to the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated interim financial statements, and the reported amounts of revenue and expenses during the period. These amounts are inherently subject to change and actual results could differ significantly from these estimates. C. SIGNIFICANT ACCOUNTING POLICIES On January 1, 2023, 2016 13, 326 2016 13 2016 13 2023 . D. PROSPECTIVE ACCOUNTING STANDARDS There are no September 30, 2024 E. PROPERTY AND EQUIPMENT Annually, the Company reviews the major asset classes of property and equipment held for impairment. As of September 30, 2024 December 31, 2023 As of September 30, December 31, 2024 2023 Automobiles $ 699,375 $ 645,458 Furniture and fixtures 530,359 525,843 Computer equipment and software 5,247,887 5,037,301 Home office 4,175,508 4,106,796 Total cost 10,653,129 10,315,398 Accumulated depreciation (7,381,278 ) (6,990,076 ) Net property and equipment $ 3,271,851 $ 3,325,322 F. COMPREHENSIVE EARNINGS Comprehensive (loss) earnings include net earnings (loss) plus unrealized gains (losses) on available-for-sale investment securities, net of tax. In reporting the components of comprehensive earnings on a net basis in the statement of earnings and comprehensive earnings, the Company used a 21% tax rate. The following table presents changes in accumulated other comprehensive (loss) earnings for unrealized gains and losses on available-for-sale securities: Nine-Months Ended September 30, 2024 2023 Beginning balance $ (6,621,336 ) $ (8,841,517 ) Other comprehensive earnings (loss) before reclassification 2,097,770 (2,239,651 ) Amount reclassified from accumulated other comprehensive earnings 17,048 46,421 Net current period other comprehensive earnings (loss) 2,114,818 (2,193,230 ) Ending balance $ (4,506,518 ) $ (11,034,747 ) The following table illustrates the components of other comprehensive earnings (loss) for each period presented in the condensed consolidated interim financial statements. Three-Month Periods Ended September 30, 2024 2023 Pre-tax Tax After-tax Pre-tax Tax After-tax Other comprehensive earnings (loss), net of tax Unrealized gains and losses on AFS investments: Unrealized holding gains (losses) arising during the period $ 4,094,889 $ (859,927 ) $ 3,234,962 $ (3,836,298 ) $ 805,622 $ (3,030,676 ) Reclassification adjustment for losses included in net earnings — — — 6,863 (1,441 ) 5,422 Total other comprehensive earnings (loss) $ 4,094,889 $ (859,927 ) $ 3,234,962 $ (3,829,435 ) $ 804,181 $ (3,025,254 ) Nine-Month Periods Ended September 30, 2024 2023 Pre-tax Tax After-tax Pre-tax Tax After-tax Other comprehensive (loss) earnings, net of tax Unrealized gains and losses on AFS investments: Unrealized holding gains (losses) arising during the period $ 2,655,405 $ (557,635 ) $ 2,097,770 $ (2,835,001 ) $ 595,350 $ (2,239,651 ) Reclassification adjustment for losses included in net earnings 21,580 (4,532 ) 17,048 58,761 (12,340 ) 46,421 Total other comprehensive earnings (loss) $ 2,676,985 $ (562,167 ) $ 2,114,818 $ (2,776,240 ) $ 583,010 $ (2,193,230 ) The following table provides the reclassifications from accumulated other comprehensive earnings for the periods presented: Amounts Reclassified from Accumulated Other Comprehensive Loss Nine-Month Periods Ended Details about Accumulated Other September 30, Affected Line Item in the Statement Comprehensive Earnings Component 2024 2023 where Net Earnings is Presented Unrealized losses on AFS investments: $ 21,580 $ 58,761 Net realized investment losses (4,532 ) (12,340 ) Income tax (benefit) Total reclassification adjustment, net of tax $ 17,048 $ 46,421 G. RISKS AND UNCERTAINTIES Certain risks and uncertainties are inherent to our day-to-day operations. Adverse changes in the economy could lower demand for our insurance products or negatively impact our investment results, both of which could have an adverse effect on the revenue and profitability of our operations. War, terrorism, labor shortages and tightening, inflation and related monetary policy responses, and recession fears are also causing volatility and disruptions in credit and capital markets, and the business prospects of the industry we serve. The cumulative effects of these events on the Company cannot be predicted, but could reduce demand for our insurance policies, result an in increased level of losses, settlement expenses or other operating costs, or reduce the market value of invested assets held by the Company. H. INTANGIBLES Intangible assets of $1.0 million are reported within Other Assets on the Consolidated Balance Sheets. Finite-lived intangible assets are amortized over their estimated useful lives.

Note 2 - Investments

Note 2 - Investments	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	2. INVESTMENTS The Company’s investments are primarily composed of fixed income debt securities and common and preferred equity securities. We carry our equity securities at fair value and categorize all our fixed maturity debt securities as available-for-sale (AFS), which are carried at fair value. When available, quoted market prices are obtained to determine fair value for the Company’s investments. If a quoted market price is not no 3 Note 3 Fair Value Disclosures not Available-for-Sale Fixed Maturity and Equity Securities The following tables are a summary of the proceeds from sales, maturities, and calls of AFS fixed maturity and equity securities and the related gross realized gains and losses. For the Three-Months Ended September 30, Net Realized Proceeds Gains Losses Gains (Losses) 2024 Fixed maturity securities $ 2,924,552 $ — $ — $ — Common stocks 1,208,768 390,453 (70,800 ) 319,653 Preferred stocks 309,756 334 (117 ) 217 2023 Fixed maturity securities $ 1,443,108 $ — $ (6,863 ) $ (6,863 ) Common stocks 1,807,080 395,780 (188,989 ) 206,791 Preferred stocks — — — — For the Nine-Months Ended September 30, Net Realized Proceeds Gains Losses Gains (Losses) 2024 Fixed maturity securities $ 11,985,012 $ 8,512 $ (30,092 ) $ (21,580 ) Common stocks 2,033,174 673,559 (154,234 ) 519,325 Preferred stocks 679,644 1,743 (31,952 ) (30,209 ) 2023 Fixed maturity securities $ 9,785,891 $ — $ (58,761 ) $ (58,761 ) Common stocks 3,831,416 $ 800,571 $ (496,207 ) $ 304,364 Preferred stocks 337,440 $ 29,371 $ (6,599 ) $ 22,772 The amortized cost and estimated fair value of fixed income securities at September 30, 2024 Amortized Cost Fair Value Due in one year or less $ 3,251,814 $ 3,203,143 Due after one year through five years 17,273,034 16,970,351 Due after five years through 10 years 25,337,861 24,748,130 Due after 10 years 26,050,171 22,497,708 Asset and mortgage-backed securities without a specific due date 48,349,132 47,141,221 Redeemable preferred stocks 186,393 183,280 Total fixed maturity securities $ 120,448,405 $ 114,743,833 Expected maturities may The following table is a schedule of amortized cost and estimated fair values of investments in securities classified as available for sale at September 30, 2024 December 31, 2023 Gross Unrealized Amortized Cost Fair Value Gains Losses 2024 Fixed maturity securities: U.S. Treasury $ 1,351,018 $ 1,326,055 $ — $ (24,963 ) MBS/ABS/CMBS 48,349,132 47,141,221 716,346 (1,924,257 ) Corporate 47,980,649 46,192,658 548,532 (2,336,523 ) Municipal 22,581,213 19,900,619 190,410 (2,871,004 ) Redeemable preferred stock 186,393 183,280 311 (3,424 ) Total fixed maturity securities $ 120,448,405 $ 114,743,833 $ 1,455,599 $ (7,160,171 ) Gross Unrealized Amortized Cost Fair Value Gains Losses 2023 Fixed maturity securities: U.S. Treasury $ 1,351,768 $ 1,289,774 $ — $ (61,994 ) MBS/ABS/CMBS 49,400,028 47,020,328 283,957 (2,663,657 ) Corporate 45,764,492 42,981,718 287,412 (3,070,186 ) Municipal 22,633,360 19,493,317 153,103 (3,293,146 ) Redeemable preferred stock 186,393 170,560 — (15,833 ) Total fixed maturity securities $ 119,336,041 $ 110,955,697 $ 724,472 $ (9,104,816 ) All the Company’s collateralized securities carry an average credit rating of AA by one Note 3 Fair Value Disclosures, September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 ANALYSIS The following tables display the total value of securities that were in an unrealized loss position as of September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 12 Months 12 Months < 12 Months & Greater Total < 12 Months & Greater Total Fixed Maturity Securities: U.S. Treasury Fair value $ — $ 1,326,055 $ 1,326,055 $ — $ 1,289,774 $ 1,289,774 Amortized cost — 1,351,018 1,351,018 — 1,351,768 1,351,768 Unrealized loss — (24,963 ) (24,963 ) — (61,994 ) (61,994 ) MBS/ABS/CMBS Fair value 505,082 19,582,844 20,087,926 8,345,340 24,323,865 32,669,205 Amortized cost 505,315 21,506,868 22,012,183 8,462,010 26,870,852 35,332,862 Unrealized loss (233 ) (1,924,024 ) (1,924,257 ) (116,670 ) (2,546,987 ) (2,663,657 ) Corporate Fair value — 28,991,279 28,991,279 477,051 33,352,754 33,829,805 Amortized cost — 31,327,802 31,327,802 478,370 36,421,621 36,899,991 Unrealized loss — (2,336,523 ) (2,336,523 ) (1,319 ) (3,068,867 ) (3,070,186 ) Municipal Fair value 776,030 12,544,802 13,320,832 — 12,149,238 12,149,238 Amortized cost 776,741 15,415,095 16,191,836 — 15,442,384 15,442,384 Unrealized loss (711 ) (2,870,293 ) (2,871,004 ) — (3,293,146 ) (3,293,146 ) Redeemable preferred stock Fair value 22,910 106,096 129,006 149,240 21,320 170,560 Amortized cost 23,005 109,425 132,430 161,549 24,844 186,393 Unrealized loss (95 ) (3,329 ) (3,424 ) (12,309 ) (3,524 ) (15,833 ) Total Fair value 1,304,022 62,551,076 63,855,098 8,971,631 71,136,951 80,108,582 Amortized cost 1,305,061 69,710,208 71,015,269 9,101,929 80,111,469 89,213,398 Unrealized loss $ (1,039 ) $ (7,159,132 ) $ (7,160,171 ) $ (130,298 ) $ (8,974,518 ) $ (9,104,816 ) The fixed income portfolio contained 184 securities in an unrealized loss position as of September 30, 2024 12 not not not There were no CECL allowances from the fixed income portfolio recognized in net earnings during the nine September 30, 2024 2023 not may UNREALIZED GAINS AND LOSSES ON INVESTMENTS Net unrealized gains recognized during the three nine September 30, 2024 three nine September 30, 2023 September 30, 2023 Other Invested Assets Other invested assets as of September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 As of September 30, 2024 three November 2021, may September 30, 2024 September 30, 2024 June 2024, may September 30, 2024 no December 31, 2023 three December 31, 2023 Notes receivable are carried at outstanding value plus accrued interest. As of September 30, 2024 prime September 30, 2024 The Funds at Lloyd's and the membership in the FHLBC are carried at cost.

Note 3 - Fair Value Disclosures

Note 3 - Fair Value Disclosures	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	3. FAIR VALUE DISCLOSURES Fair value is defined as the price in the principal market that would be received for an asset to facilitate an orderly transaction between market participants on the measurement date. The fair value of certain financial instruments is determined based on their underlying characteristics and relevant transactions in the marketplace. GAAP guidance requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The guidance also describes three may The following are the levels of the fair value hierarchy and a brief description of the type of valuation inputs that are used to establish each level: ● Level 1 ● Level 2 ● Level 3 one As a part of the process to determine fair value, management utilizes widely recognized, third third Corporate, Agencies, and Municipal Bonds two 2. 2. Mortgage-backed Securities (MBS), Collateralized Mortgage Obligations (CMO), Commercial Mortgage-backed Securities (CMBS) and Asset-backed Securities (ABS) 2. 2. U.S. Treasury Bonds, Common Stocks and Exchange Traded Funds 1 1. Preferred Stock not not 2. 2. Due to the relatively short-term nature of cash, short-term investments, accounts receivable, and accounts payable, their carrying amounts are reasonable estimates of fair value. Other invested assets include notes receivable, stock, a limited partnership, a SAFE investment, Funds at Lloyd's, and membership in the FHLBC. Notes receivable are carried at outstanding balance plus accrued interest. Stock is at fair value when available. The limited partnership and Funds at Lloyd's, the SAFE investment, and the membership in FHLBC are carried at cost. Assets measured at fair value on a recurring basis as of September 30, 2024 Significant Quoted in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total AFS securities Fixed maturity securities U.S. treasury $ 1,326,055 $ — $ — $ 1,326,055 MBS/ABS/CMBS — 47,141,221 — 47,141,221 Corporate — 46,192,658 — 46,192,658 Municipal — 19,900,619 — 19,900,619 Redeemable preferred stocks — 183,280 — 183,280 Total fixed maturity securities 1,326,055 113,417,778 — 114,743,833 Equity securities Common stocks 14,470,556 — — 14,470,556 Perpetual preferred stocks — 2,924,056 — 2,924,056 Total equity securities 14,470,556 2,924,056 — 17,394,612 Total marketable investments measured at fair value $ 15,796,611 $ 116,341,834 $ — $ 132,138,445 Assets measured at fair value on a recurring basis as of December 31, 2023 Significant Quoted in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total AFS securities Fixed maturity securities U.S. treasury $ 1,289,774 $ — $ — $ 1,289,774 MBS/ABS/CMBS — 47,020,328 — 47,020,328 Corporate — 42,981,718 — 42,981,718 Municipal — 19,493,317 — 19,493,317 Redeemable preferred stocks — 170,560 — 170,560 Total fixed maturity securities 1,289,774 109,665,923 — 110,955,697 Equity securities Common stocks 12,191,621 — — 12,191,621 Perpetual preferred stocks — 2,896,296 — 2,896,296 Total equity securities 12,191,621 2,896,296 — 15,087,917 Total marketable investments measured at fair value $ 13,481,395 $ 112,562,219 $ — $ 126,043,614 As noted in the previous tables, the Company has no 3 September 30, 2024 December 31, 2023 1 2 nine September 30, 2024 2023

Note 4 - Debt

Note 4 - Debt	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	4. DEBT Debt Obligation Debt Obligations The Company had $15,000,000 in outstanding debt as of September 30, 2024 December 31, 2023 The Company also has borrowing capacity of $53.1 million with the Federal Home Loan Bank of Chicago (FHLBC), which is 25% of net admitted statutory assets of Illinois Casualty Company as of the prior year-end. As of September 30, 2024 three 5 2025 2027, March 18, 2025. The Company has $18.9 million in bonds pledged as collateral for all FHLBC loans. Revolving Line of Credit As of September 30, 2024 July 5, 2024 prime July 5, 2025 nine September 30, 2024 2023

Note 5 - Reinsurance

Note 5 - Reinsurance	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Reinsurance [Text Block]	5. REINSURANCE In the ordinary course of business, the Company assumes and cedes premiums and selected insured risks with other insurance companies, known as reinsurance. A large portion of the reinsurance is put into effect under contracts known as treaties and, in some instances, by negotiation on each individual risk (known as facultative reinsurance). In addition, there are several types of treaties including quota share, excess of loss, and catastrophe reinsurance contracts that protect against losses over stipulated amounts arising from any one Through the purchase of reinsurance, the Company also generally limits its net loss on any individual risk to a maximum of $1,000,000 for casualty and workers’ compensation business and $1,000,000 for property, although certain treaties contain an annual aggregate deductible before reinsurance applies. Premiums, written and earned, along with losses and settlement expenses incurred for the periods presented is summarized as follows: Three-Month Periods Ended September 30, 2024 2023 WRITTEN Direct $ 27,661,918 $ 24,495,429 Reinsurance assumed 70,721 60,457 Reinsurance ceded (3,514,356 ) (2,870,582 ) Net $ 24,218,283 $ 21,685,304 EARNED Direct $ 25,126,580 $ 22,057,631 Reinsurance assumed 64,138 54,269 Reinsurance ceded (3,479,311 ) (2,878,383 ) Net $ 21,711,407 $ 19,233,517 LOSS AND SETTLEMENT EXPENSES INCURRED Direct $ 15,088,964 $ 17,854,337 Reinsurance assumed 46,296 18,080 Reinsurance ceded (991,057 ) (4,435,953 ) Net $ 14,144,203 $ 13,436,464 Nine-Month Periods Ended September 30, 2024 2023 WRITTEN Direct $ 76,788,373 $ 68,899,622 Reinsurance assumed 94,323 135,570 Reinsurance ceded (10,534,586 ) (7,865,311 ) Net $ 66,348,110 $ 61,169,881 EARNED Direct $ 72,749,157 $ 63,468,235 Reinsurance assumed 97,545 127,080 Reinsurance ceded (10,514,736 ) (8,066,448 ) Net $ 62,331,966 $ 55,528,867 LOSS AND SETTLEMENT EXPENSES INCURRED Direct $ 43,628,846 $ 43,754,741 Reinsurance assumed 69,403 58,499 Reinsurance ceded (2,664,050 ) (7,114,609 ) Net $ 41,034,199 $ 36,698,631

Note 6 - Unpaid Losses and Sett

Note 6 - Unpaid Losses and Settlement Expenses	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]	6. UNPAID LOSSES AND SETTLEMENT EXPENSES The following table is a reconciliation of the Company’s unpaid losses and settlement expenses: For the Three-Months Ended September 30, (In thousands) 2024 2023 Unpaid losses and settlement expense - beginning of the period: Gross $ 79,264 $ 76,584 Less: Ceded 12,374 14,603 Less: CECL allowance for reinsurance recoverable on unpaid losses 79 — Net 66,811 61,981 Increase in incurred losses and settlement expense: Current year 8,711 11,331 Prior years 5,433 2,105 Total incurred 14,144 13,436 Deduct: Loss and settlement expense payments for claims incurred: Current year 3,439 4,329 Prior years 6,534 7,011 Total paid 9,973 11,340 Net unpaid losses and settlement expense - end of the period 70,982 64,077 Plus: Reinsurance recoverable on unpaid losses net of CECL 12,520 16,350 Plus: CECL allowance for reinsurance recoverable on unpaid losses 1 80 115 Gross unpaid losses and settlement expense - end of the period $ 83,582 $ 80,542 For the Nine-Months Ended September 30, (In thousands) 2024 2023 Unpaid losses and settlement expense - beginning of the period: Gross $ 71,920 $ 67,614 Less: Ceded 12,737 13,610 Less: CECL allowance for reinsurance recoverable on unpaid losses 82 — Net 59,101 54,004 Increase in incurred losses and settlement expense: Current year 32,866 33,333 Prior years 8,168 3,366 Total incurred 41,034 36,699 Deduct: Loss and settlement expense payments for claims incurred: Current year 8,410 9,045 Prior years 20,743 17,581 Total paid 29,153 26,626 Net unpaid losses and settlement expense - end of the period 70,982 64,077 Plus: Reinsurance recoverable on unpaid losses net of CECL 12,520 16,350 Plus: CECL allowance for reinsurance recoverable on unpaid losses 1 80 115 Gross unpaid losses and settlement expense - end of the period $ 83,582 $ 80,542 1 See page 8, For the nine September 30, 2024 2023 nine September 30, 2024

Note 7 - Income Taxes

Note 7 - Income Taxes	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	7. INCOME TAXES The Company’s effective tax rate for the nine September 30, 2024 2023 Income tax expense for the nine September 30, 2024 2023 For the Three-Months Ended September 30, 2024 2023 Provision for income taxes at the statutory federal tax rates $ 549,949 $ (203,241 ) Increase (reduction) in taxes resulting from: Tax-exempt interest income (7,882 ) (8,450 ) Dividends received deduction (10,391 ) (18,802 ) Proration of tax-exempt interest and dividends received deduction 4,338 6,604 Nondeductible expenses 23,240 22,512 Officer life insurance, net 2,459 2,527 Other 4,900 — Total $ 566,613 $ (198,850 ) For the Nine-Months Ended September 30, 2024 2023 Provision for income taxes at the statutory federal tax rates $ 954,385 $ 369,439 Increase (reduction) in taxes resulting from: Tax-exempt interest income (23,717 ) (27,316 ) Dividends received deduction (29,645 ) (59,537 ) Proration of tax-exempt interest and dividends received deduction 12,671 21,074 Nondeductible expenses 73,585 57,555 Officer life insurance, net (2,109 ) 1,949 Total $ 985,170 $ 363,164 Management believes it is more likely than not As of September 30, 2024 December 31, 2023 not 2021 no September 30, 2024

Note 8 - Employee Benefits

Note 8 - Employee Benefits	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	8. EMPLOYEE BENEFITS ESOP In connection with our conversion and public offering, we established an ESOP. The ESOP borrowed from the Company to purchase 350,000 shares in the offering. The issuance of the shares to the ESOP resulted in a contra account established in the equity section of the balance sheet for the unallocated shares at an amount equal to their $10.00 per share purchase price. The Company may not nine September 30, 2024 2023 No A compensation expense charge is booked monthly during each year for the shares committed to be allocated to participants that year, determined with reference to the fair market value of our stock at the time the commitment to allocate the shares is accrued and recognized. For the nine September 30, 2024 ted to 17,546 shares of our c September 30, 2024. nine September 30, 2023 December 31, 2023 RESTRICTED STOCK UNITS Restricted stock units (RSUs) were granted for the first February 2018 April one third three first nine September 30, 2024 September 30, 2023 RSUs Weighted Average Grant Date Fair Value Nonvested on December 31, 2023 19,787 $ 15.87 Granted 20,100 16.00 Vested (18,229 ) 15.96 Nonvested on September 30, 2024 21,658 $ 15.92

Note 9 - Subsequent Events

Note 9 - Subsequent Events	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	9. SUBSEQUENT EVENTS Subsequent events have been evaluated through the date the financial statements were issued.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		5. During the quarter ended September 30, 2024 none 16 1934, 10b5 1 10b5 1 408
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	B. PRINCIPLES OF CONSOLIDATION AND BASIS OF PRESENTATION The unaudited condensed consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial reporting and with the instructions to Form 10 not 10 December 31, 2023 2023 10 not September 30, 2024 not The preparation of the unaudited condensed consolidated interim financial statements requires management to make estimates and assumptions relating to the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated interim financial statements, and the reported amounts of revenue and expenses during the period. These amounts are inherently subject to change and actual results could differ significantly from these estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	C. SIGNIFICANT ACCOUNTING POLICIES On January 1, 2023, 2016 13, 326 2016 13 2016 13 2023 . D. PROSPECTIVE ACCOUNTING STANDARDS There are no September 30, 2024
Property, Plant and Equipment, Impairment [Policy Text Block]	E. PROPERTY AND EQUIPMENT Annually, the Company reviews the major asset classes of property and equipment held for impairment. As of September 30, 2024 December 31, 2023 As of September 30, December 31, 2024 2023 Automobiles $ 699,375 $ 645,458 Furniture and fixtures 530,359 525,843 Computer equipment and software 5,247,887 5,037,301 Home office 4,175,508 4,106,796 Total cost 10,653,129 10,315,398 Accumulated depreciation (7,381,278 ) (6,990,076 ) Net property and equipment $ 3,271,851 $ 3,325,322
Comprehensive Income, Policy [Policy Text Block]	F. COMPREHENSIVE EARNINGS Comprehensive (loss) earnings include net earnings (loss) plus unrealized gains (losses) on available-for-sale investment securities, net of tax. In reporting the components of comprehensive earnings on a net basis in the statement of earnings and comprehensive earnings, the Company used a 21% tax rate. The following table presents changes in accumulated other comprehensive (loss) earnings for unrealized gains and losses on available-for-sale securities: Nine-Months Ended September 30, 2024 2023 Beginning balance $ (6,621,336 ) $ (8,841,517 ) Other comprehensive earnings (loss) before reclassification 2,097,770 (2,239,651 ) Amount reclassified from accumulated other comprehensive earnings 17,048 46,421 Net current period other comprehensive earnings (loss) 2,114,818 (2,193,230 ) Ending balance $ (4,506,518 ) $ (11,034,747 ) The following table illustrates the components of other comprehensive earnings (loss) for each period presented in the condensed consolidated interim financial statements. Three-Month Periods Ended September 30, 2024 2023 Pre-tax Tax After-tax Pre-tax Tax After-tax Other comprehensive earnings (loss), net of tax Unrealized gains and losses on AFS investments: Unrealized holding gains (losses) arising during the period $ 4,094,889 $ (859,927 ) $ 3,234,962 $ (3,836,298 ) $ 805,622 $ (3,030,676 ) Reclassification adjustment for losses included in net earnings — — — 6,863 (1,441 ) 5,422 Total other comprehensive earnings (loss) $ 4,094,889 $ (859,927 ) $ 3,234,962 $ (3,829,435 ) $ 804,181 $ (3,025,254 ) Nine-Month Periods Ended September 30, 2024 2023 Pre-tax Tax After-tax Pre-tax Tax After-tax Other comprehensive (loss) earnings, net of tax Unrealized gains and losses on AFS investments: Unrealized holding gains (losses) arising during the period $ 2,655,405 $ (557,635 ) $ 2,097,770 $ (2,835,001 ) $ 595,350 $ (2,239,651 ) Reclassification adjustment for losses included in net earnings 21,580 (4,532 ) 17,048 58,761 (12,340 ) 46,421 Total other comprehensive earnings (loss) $ 2,676,985 $ (562,167 ) $ 2,114,818 $ (2,776,240 ) $ 583,010 $ (2,193,230 ) The following table provides the reclassifications from accumulated other comprehensive earnings for the periods presented: Amounts Reclassified from Accumulated Other Comprehensive Loss Nine-Month Periods Ended Details about Accumulated Other September 30, Affected Line Item in the Statement Comprehensive Earnings Component 2024 2023 where Net Earnings is Presented Unrealized losses on AFS investments: $ 21,580 $ 58,761 Net realized investment losses (4,532 ) (12,340 ) Income tax (benefit) Total reclassification adjustment, net of tax $ 17,048 $ 46,421
Risk And Uncertainties [Policy Text Block]	G. RISKS AND UNCERTAINTIES Certain risks and uncertainties are inherent to our day-to-day operations. Adverse changes in the economy could lower demand for our insurance products or negatively impact our investment results, both of which could have an adverse effect on the revenue and profitability of our operations. War, terrorism, labor shortages and tightening, inflation and related monetary policy responses, and recession fears are also causing volatility and disruptions in credit and capital markets, and the business prospects of the industry we serve. The cumulative effects of these events on the Company cannot be predicted, but could reduce demand for our insurance policies, result an in increased level of losses, settlement expenses or other operating costs, or reduce the market value of invested assets held by the Company.
Intangible Assets, Finite-Lived, Policy [Policy Text Block]	H. INTANGIBLES Intangible assets of $1.0 million are reported within Other Assets on the Consolidated Balance Sheets. Finite-lived intangible assets are amortized over their estimated useful lives.

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	As of September 30, December 31, 2024 2023 Automobiles $ 699,375 $ 645,458 Furniture and fixtures 530,359 525,843 Computer equipment and software 5,247,887 5,037,301 Home office 4,175,508 4,106,796 Total cost 10,653,129 10,315,398 Accumulated depreciation (7,381,278 ) (6,990,076 ) Net property and equipment $ 3,271,851 $ 3,325,322
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Nine-Months Ended September 30, 2024 2023 Beginning balance $ (6,621,336 ) $ (8,841,517 ) Other comprehensive earnings (loss) before reclassification 2,097,770 (2,239,651 ) Amount reclassified from accumulated other comprehensive earnings 17,048 46,421 Net current period other comprehensive earnings (loss) 2,114,818 (2,193,230 ) Ending balance $ (4,506,518 ) $ (11,034,747 )
Comprehensive Income (Loss) [Table Text Block]	Three-Month Periods Ended September 30, 2024 2023 Pre-tax Tax After-tax Pre-tax Tax After-tax Other comprehensive earnings (loss), net of tax Unrealized gains and losses on AFS investments: Unrealized holding gains (losses) arising during the period $ 4,094,889 $ (859,927 ) $ 3,234,962 $ (3,836,298 ) $ 805,622 $ (3,030,676 ) Reclassification adjustment for losses included in net earnings — — — 6,863 (1,441 ) 5,422 Total other comprehensive earnings (loss) $ 4,094,889 $ (859,927 ) $ 3,234,962 $ (3,829,435 ) $ 804,181 $ (3,025,254 ) Nine-Month Periods Ended September 30, 2024 2023 Pre-tax Tax After-tax Pre-tax Tax After-tax Other comprehensive (loss) earnings, net of tax Unrealized gains and losses on AFS investments: Unrealized holding gains (losses) arising during the period $ 2,655,405 $ (557,635 ) $ 2,097,770 $ (2,835,001 ) $ 595,350 $ (2,239,651 ) Reclassification adjustment for losses included in net earnings 21,580 (4,532 ) 17,048 58,761 (12,340 ) 46,421 Total other comprehensive earnings (loss) $ 2,676,985 $ (562,167 ) $ 2,114,818 $ (2,776,240 ) $ 583,010 $ (2,193,230 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amounts Reclassified from Accumulated Other Comprehensive Loss Nine-Month Periods Ended Details about Accumulated Other September 30, Affected Line Item in the Statement Comprehensive Earnings Component 2024 2023 where Net Earnings is Presented Unrealized losses on AFS investments: $ 21,580 $ 58,761 Net realized investment losses (4,532 ) (12,340 ) Income tax (benefit) Total reclassification adjustment, net of tax $ 17,048 $ 46,421

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Realized Gain (Loss) [Table Text Block]	For the Three-Months Ended September 30, Net Realized Proceeds Gains Losses Gains (Losses) 2024 Fixed maturity securities $ 2,924,552 $ — $ — $ — Common stocks 1,208,768 390,453 (70,800 ) 319,653 Preferred stocks 309,756 334 (117 ) 217 2023 Fixed maturity securities $ 1,443,108 $ — $ (6,863 ) $ (6,863 ) Common stocks 1,807,080 395,780 (188,989 ) 206,791 Preferred stocks — — — — For the Nine-Months Ended September 30, Net Realized Proceeds Gains Losses Gains (Losses) 2024 Fixed maturity securities $ 11,985,012 $ 8,512 $ (30,092 ) $ (21,580 ) Common stocks 2,033,174 673,559 (154,234 ) 519,325 Preferred stocks 679,644 1,743 (31,952 ) (30,209 ) 2023 Fixed maturity securities $ 9,785,891 $ — $ (58,761 ) $ (58,761 ) Common stocks 3,831,416 $ 800,571 $ (496,207 ) $ 304,364 Preferred stocks 337,440 $ 29,371 $ (6,599 ) $ 22,772
Investments Classified by Contractual Maturity Date [Table Text Block]	Amortized Cost Fair Value Due in one year or less $ 3,251,814 $ 3,203,143 Due after one year through five years 17,273,034 16,970,351 Due after five years through 10 years 25,337,861 24,748,130 Due after 10 years 26,050,171 22,497,708 Asset and mortgage-backed securities without a specific due date 48,349,132 47,141,221 Redeemable preferred stocks 186,393 183,280 Total fixed maturity securities $ 120,448,405 $ 114,743,833
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]	Gross Unrealized Amortized Cost Fair Value Gains Losses 2024 Fixed maturity securities: U.S. Treasury $ 1,351,018 $ 1,326,055 $ — $ (24,963 ) MBS/ABS/CMBS 48,349,132 47,141,221 716,346 (1,924,257 ) Corporate 47,980,649 46,192,658 548,532 (2,336,523 ) Municipal 22,581,213 19,900,619 190,410 (2,871,004 ) Redeemable preferred stock 186,393 183,280 311 (3,424 ) Total fixed maturity securities $ 120,448,405 $ 114,743,833 $ 1,455,599 $ (7,160,171 ) Gross Unrealized Amortized Cost Fair Value Gains Losses 2023 Fixed maturity securities: U.S. Treasury $ 1,351,768 $ 1,289,774 $ — $ (61,994 ) MBS/ABS/CMBS 49,400,028 47,020,328 283,957 (2,663,657 ) Corporate 45,764,492 42,981,718 287,412 (3,070,186 ) Municipal 22,633,360 19,493,317 153,103 (3,293,146 ) Redeemable preferred stock 186,393 170,560 — (15,833 ) Total fixed maturity securities $ 119,336,041 $ 110,955,697 $ 724,472 $ (9,104,816 )
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block]	September 30, 2024 December 31, 2023 12 Months 12 Months < 12 Months & Greater Total < 12 Months & Greater Total Fixed Maturity Securities: U.S. Treasury Fair value $ — $ 1,326,055 $ 1,326,055 $ — $ 1,289,774 $ 1,289,774 Amortized cost — 1,351,018 1,351,018 — 1,351,768 1,351,768 Unrealized loss — (24,963 ) (24,963 ) — (61,994 ) (61,994 ) MBS/ABS/CMBS Fair value 505,082 19,582,844 20,087,926 8,345,340 24,323,865 32,669,205 Amortized cost 505,315 21,506,868 22,012,183 8,462,010 26,870,852 35,332,862 Unrealized loss (233 ) (1,924,024 ) (1,924,257 ) (116,670 ) (2,546,987 ) (2,663,657 ) Corporate Fair value — 28,991,279 28,991,279 477,051 33,352,754 33,829,805 Amortized cost — 31,327,802 31,327,802 478,370 36,421,621 36,899,991 Unrealized loss — (2,336,523 ) (2,336,523 ) (1,319 ) (3,068,867 ) (3,070,186 ) Municipal Fair value 776,030 12,544,802 13,320,832 — 12,149,238 12,149,238 Amortized cost 776,741 15,415,095 16,191,836 — 15,442,384 15,442,384 Unrealized loss (711 ) (2,870,293 ) (2,871,004 ) — (3,293,146 ) (3,293,146 ) Redeemable preferred stock Fair value 22,910 106,096 129,006 149,240 21,320 170,560 Amortized cost 23,005 109,425 132,430 161,549 24,844 186,393 Unrealized loss (95 ) (3,329 ) (3,424 ) (12,309 ) (3,524 ) (15,833 ) Total Fair value 1,304,022 62,551,076 63,855,098 8,971,631 71,136,951 80,108,582 Amortized cost 1,305,061 69,710,208 71,015,269 9,101,929 80,111,469 89,213,398 Unrealized loss $ (1,039 ) $ (7,159,132 ) $ (7,160,171 ) $ (130,298 ) $ (8,974,518 ) $ (9,104,816 )

Note 3 - Fair Value Disclosur_2

Note 3 - Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Significant Quoted in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total AFS securities Fixed maturity securities U.S. treasury $ 1,326,055 $ — $ — $ 1,326,055 MBS/ABS/CMBS — 47,141,221 — 47,141,221 Corporate — 46,192,658 — 46,192,658 Municipal — 19,900,619 — 19,900,619 Redeemable preferred stocks — 183,280 — 183,280 Total fixed maturity securities 1,326,055 113,417,778 — 114,743,833 Equity securities Common stocks 14,470,556 — — 14,470,556 Perpetual preferred stocks — 2,924,056 — 2,924,056 Total equity securities 14,470,556 2,924,056 — 17,394,612 Total marketable investments measured at fair value $ 15,796,611 $ 116,341,834 $ — $ 132,138,445 Significant Quoted in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total AFS securities Fixed maturity securities U.S. treasury $ 1,289,774 $ — $ — $ 1,289,774 MBS/ABS/CMBS — 47,020,328 — 47,020,328 Corporate — 42,981,718 — 42,981,718 Municipal — 19,493,317 — 19,493,317 Redeemable preferred stocks — 170,560 — 170,560 Total fixed maturity securities 1,289,774 109,665,923 — 110,955,697 Equity securities Common stocks 12,191,621 — — 12,191,621 Perpetual preferred stocks — 2,896,296 — 2,896,296 Total equity securities 12,191,621 2,896,296 — 15,087,917 Total marketable investments measured at fair value $ 13,481,395 $ 112,562,219 $ — $ 126,043,614

Note 5 - Reinsurance (Tables)

Note 5 - Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Effects of Reinsurance [Table Text Block]	Three-Month Periods Ended September 30, 2024 2023 WRITTEN Direct $ 27,661,918 $ 24,495,429 Reinsurance assumed 70,721 60,457 Reinsurance ceded (3,514,356 ) (2,870,582 ) Net $ 24,218,283 $ 21,685,304 EARNED Direct $ 25,126,580 $ 22,057,631 Reinsurance assumed 64,138 54,269 Reinsurance ceded (3,479,311 ) (2,878,383 ) Net $ 21,711,407 $ 19,233,517 LOSS AND SETTLEMENT EXPENSES INCURRED Direct $ 15,088,964 $ 17,854,337 Reinsurance assumed 46,296 18,080 Reinsurance ceded (991,057 ) (4,435,953 ) Net $ 14,144,203 $ 13,436,464 Nine-Month Periods Ended September 30, 2024 2023 WRITTEN Direct $ 76,788,373 $ 68,899,622 Reinsurance assumed 94,323 135,570 Reinsurance ceded (10,534,586 ) (7,865,311 ) Net $ 66,348,110 $ 61,169,881 EARNED Direct $ 72,749,157 $ 63,468,235 Reinsurance assumed 97,545 127,080 Reinsurance ceded (10,514,736 ) (8,066,448 ) Net $ 62,331,966 $ 55,528,867 LOSS AND SETTLEMENT EXPENSES INCURRED Direct $ 43,628,846 $ 43,754,741 Reinsurance assumed 69,403 58,499 Reinsurance ceded (2,664,050 ) (7,114,609 ) Net $ 41,034,199 $ 36,698,631

Note 6 - Unpaid Losses and Se_2

Note 6 - Unpaid Losses and Settlement Expenses (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]	For the Three-Months Ended September 30, (In thousands) 2024 2023 Unpaid losses and settlement expense - beginning of the period: Gross $ 79,264 $ 76,584 Less: Ceded 12,374 14,603 Less: CECL allowance for reinsurance recoverable on unpaid losses 79 — Net 66,811 61,981 Increase in incurred losses and settlement expense: Current year 8,711 11,331 Prior years 5,433 2,105 Total incurred 14,144 13,436 Deduct: Loss and settlement expense payments for claims incurred: Current year 3,439 4,329 Prior years 6,534 7,011 Total paid 9,973 11,340 Net unpaid losses and settlement expense - end of the period 70,982 64,077 Plus: Reinsurance recoverable on unpaid losses net of CECL 12,520 16,350 Plus: CECL allowance for reinsurance recoverable on unpaid losses 1 80 115 Gross unpaid losses and settlement expense - end of the period $ 83,582 $ 80,542 For the Nine-Months Ended September 30, (In thousands) 2024 2023 Unpaid losses and settlement expense - beginning of the period: Gross $ 71,920 $ 67,614 Less: Ceded 12,737 13,610 Less: CECL allowance for reinsurance recoverable on unpaid losses 82 — Net 59,101 54,004 Increase in incurred losses and settlement expense: Current year 32,866 33,333 Prior years 8,168 3,366 Total incurred 41,034 36,699 Deduct: Loss and settlement expense payments for claims incurred: Current year 8,410 9,045 Prior years 20,743 17,581 Total paid 29,153 26,626 Net unpaid losses and settlement expense - end of the period 70,982 64,077 Plus: Reinsurance recoverable on unpaid losses net of CECL 12,520 16,350 Plus: CECL allowance for reinsurance recoverable on unpaid losses 1 80 115 Gross unpaid losses and settlement expense - end of the period $ 83,582 $ 80,542

Note 7 - Income Taxes (Tables)

Note 7 - Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	For the Three-Months Ended September 30, 2024 2023 Provision for income taxes at the statutory federal tax rates $ 549,949 $ (203,241 ) Increase (reduction) in taxes resulting from: Tax-exempt interest income (7,882 ) (8,450 ) Dividends received deduction (10,391 ) (18,802 ) Proration of tax-exempt interest and dividends received deduction 4,338 6,604 Nondeductible expenses 23,240 22,512 Officer life insurance, net 2,459 2,527 Other 4,900 — Total $ 566,613 $ (198,850 ) For the Nine-Months Ended September 30, 2024 2023 Provision for income taxes at the statutory federal tax rates $ 954,385 $ 369,439 Increase (reduction) in taxes resulting from: Tax-exempt interest income (23,717 ) (27,316 ) Dividends received deduction (29,645 ) (59,537 ) Proration of tax-exempt interest and dividends received deduction 12,671 21,074 Nondeductible expenses 73,585 57,555 Officer life insurance, net (2,109 ) 1,949 Total $ 985,170 $ 363,164

Note 8 - Employee Benefits (Tab

Note 8 - Employee Benefits (Tables)	9 Months Ended
	Sep. 30, 2024
Restricted Stock Units (RSUs) [Member]
Notes Tables
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	RSUs Weighted Average Grant Date Fair Value Nonvested on December 31, 2023 19,787 $ 15.87 Granted 20,100 16.00 Vested (18,229 ) 15.96 Nonvested on September 30, 2024 21,658 $ 15.92

Note 1 - Summary of Significa_3

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)		3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 08, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jan. 01, 2023
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.01		$ 0.01		$ 0.01
Retained Earnings (Accumulated Deficit)		$ 51,403,889		$ 51,403,889		$ 47,844,368
Tangible Asset Impairment Charges				$ 0		$ 0
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				21%	21%
Finite-Lived Intangible Assets, Gross		$ 1,000,000		$ 1,000,000
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
Retained Earnings (Accumulated Deficit)							$ 113,760
Mutual Capital Holdings [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01
Business Acquisition, Share Price (in dollars per share)	$ 23.5
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 73,800,000
Premiums [Member] | Geographic Concentration Risk [Member] | ILLINOIS
Concentration Risk, Percentage		23%	23.10%	21.90%	23.50%

Note 1 - Summary of Significa_4

Note 1 - Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Cost	$ 10,653,129	$ 10,315,398
Accumulated depreciation	(7,381,278)	(6,990,076)
Net property and equipment	3,271,851	3,325,322
Automobiles [Member]
Cost	699,375	645,458
Furniture and Fixtures [Member]
Cost	530,359	525,843
Computer Equipment [Member]
Cost	5,247,887	5,037,301
Home Office [Member]
Cost	$ 4,175,508	$ 4,106,796

Note 1 - Summary of Significa_5

Note 1 - Summary of Significant Accounting Policies - Accumulated Other Comprehensive Earnings (Details) - USD ($)	3 Months Ended					9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Balance	$ 67,613,677	$ 68,685,411	$ 67,003,549	$ 63,598,529	$ 60,440,931	$ 67,003,549	$ 60,440,931
Net current period other comprehensive earnings (loss)	3,234,962	(480,032)	(640,112)	(764,329)	1,596,353
Balance	73,103,488	67,613,677	68,685,411	63,354,040	63,598,529	73,103,488	59,586,450
AOCI Attributable to Parent [Member]
Balance	(7,741,480)	(7,261,448)	(6,621,336)	(7,245,164)	(8,841,517)	(6,621,336)	(8,841,517)
Other comprehensive earnings (loss) before reclassification						2,097,770	(2,239,651)
Amount reclassified from accumulated other comprehensive earnings						17,048	46,421
Net current period other comprehensive earnings (loss)	3,234,962	(480,032)	(640,112)	(764,329)	1,596,353	2,114,818	(2,193,230)
Balance	$ (4,506,518)	$ (7,741,480)	$ (7,261,448)	$ (8,009,493)	$ (7,245,164)	$ (4,506,518)	$ (11,034,747)

Note 1 - Summary of Significa_6

Note 1 - Summary of Significant Accounting Policies - Other Comprehensive Earnings (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Unrealized holding gains (losses) arising during the period, pre tax	$ 4,094,889	$ (3,836,298)	$ 2,655,405	$ (2,835,001)
Unrealized holding gains (losses) arising during the period, tax	(859,927)	805,622	(557,635)	595,350
Unrealized holding gains (losses) arising during the period, after tax	3,234,962	(3,030,676)	2,097,770	(2,239,651)
Reclassification adjustment for losses included in net earnings, pre tax	0	6,863	21,580	58,761
Reclassification adjustment for losses included in net earnings, tax	0	(1,441)	(4,532)	(12,340)
Reclassification adjustment for losses included in net earnings, after tax	0	5,422	17,048	46,421
Total other comprehensive earnings (loss), pre tax	4,094,889	(3,829,435)	2,676,985	(2,776,240)
Total other comprehensive earnings (loss), tax	(859,927)	804,181	(562,167)	583,010
Total other comprehensive earnings (loss), after tax	$ 3,234,962	$ (3,025,254)	$ 2,114,818	$ (2,193,230)

Note 1 - Summary of Significa_7

Note 1 - Summary of Significant Accounting Policies - Reclassifications from Accumulated Other Comprehensive Earnings (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Net realized investment gains	$ (437,258)			$ (199,928)			$ (584,925)	$ (268,375)
Income Tax Expense (Benefit)	566,613			(198,850)			985,170	363,164
Net earnings	$ 2,052,192	$ (731,876)	$ 2,239,205	$ (768,963)	$ 586,489	$ 1,578,545	3,559,521	1,396,071
Reclassification out of Accumulated Other Comprehensive Income [Member]
Net earnings							17,048	46,421
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member]
Net realized investment gains							21,580	58,761
Income Tax Expense (Benefit)							$ (4,532)	$ (12,340)

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual)	9 Months Ended
	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jan. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Nov. 30, 2021 USD ($)	Oct. 02, 24
Debt Securities, Available-for-Sale	$ 114,743,833		$ 110,955,697
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	7,159,132		8,974,518
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Gain	534,212		1,595,251	$ 837,147		$ 268,677
Other Investments	13,958,375		8,898,409
Financing Receivable, Allowance for Credit Loss	310,000				$ 39,000
Investment, Funding Available for Future Investment	$ 8,050,866
Investment, Variable Interest Rate, Type [Extensible Enumeration]	Prime Rate [Member]
Federal Home Loan Bank of Chicago [Member]
Other Investments	$ 425,000		425,000
Notes Receivable [Member]
Other Investments	10,480,540		5,495,979
Privately Held Investments [Member]
Other Investments	2,543,637		2,197,232
Funds at Lloyds [Member]
Other Investments	819,198		819,198
Limited Partnership [Member]
Other Investments	2,078,607		1,734,622
SAFE Investment [Member]
Other Investments	250,000		250,000
Stocks [Member]
Other Investments	215,030		212,610
Private Investment Fund [Member]
Other Investments		$ 3					$ 10,000,000
Investment Request Amount	1,949,134		1,949,134
Notes Issued on July 30, 2019 [Member]
Financing Receivable, Allowance for Credit Loss	$ 310,000
Loans Receivable, Basis Spread on Variable Rate	0.25%
Notes Issued on July 30, 2019 [Member] | Minimum [Member]
Financing Receivable, Interest Rate	2%
Loans Receivable, Basis Spread on Variable Rate		4%
Notes Issued on July 30, 2019 [Member] | Maximum [Member]
Financing Receivable, Interest Rate	9%
Asset-Backed Securities [Member]
Debt Securities, Available-for-Sale	$ 8,266,499		8,462,540
Residential Mortgage-Backed Securities [Member]
Debt Securities, Available-for-Sale	33,749,479		32,928,128
Commercial Mortgage-Backed Securities [Member]
Debt Securities, Available-for-Sale	5,125,243		5,629,659
Fixed Income Securities [Member]
Debt Securities, Available-for-Sale, Allowance for Credit Loss	$ 0		$ 0
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	184							184
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions	178
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 7,159,132

Note 2 - Investments - Summary

Note 2 - Investments - Summary of Proceeds from Investments and Related Gross Realized Gains and Losses (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fixed Income Securities [Member]
Proceeds	$ 2,924,552	$ 1,443,108	$ 11,985,012	$ 9,785,891
Gains	0	0	8,512	0
Losses	0	(6,863)	(30,092)	(58,761)
Fixed maturity securities, net realized gains (losses)	0	(6,863)	(21,580)	(58,761)
Common Stock [Member]
Proceed	1,208,768	1,807,080	2,033,174	3,831,416
Gain	390,453	395,780	673,559	800,571
Loss	(70,800)	(188,989)	(154,234)	(496,207)
Equity securities, net realized gains (losses)	319,653	206,791	519,325	304,364
Preferred Stock [Member]
Proceed	309,756	0	679,644	337,440
Gain	334	0	1,743	29,371
Loss	(117)	0	(31,952)	(6,599)
Equity securities, net realized gains (losses)	$ 217	$ 0	$ (30,209)	$ 22,772

Note 2 - Investments - Contract

Note 2 - Investments - Contractual Maturity of Fixed Income Securities (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Due in one year or less, amortized cost	$ 3,251,814
Due in one year or less, fair value	3,203,143
Due after one year through five years, amortized cost	17,273,034
Due after one year through five years, fair value	16,970,351
Due after five years through 10 years, amortized cost	25,337,861
Due after five years through 10 years, fair value	24,748,130
Due after 10 years, amortized cost	26,050,171
Due after 10 years, fair value	22,497,708
Total fixed maturity securities, amortized cost	120,448,405	$ 119,336,041
Total fixed maturity securities, fair value	114,743,833	110,955,697
Collateralized Mortgage-Backed Securities [Member]
Securities without a specific due date, amortized cost	48,349,132
Securities without a specific due date, fair value	47,141,221
Securities without a specific due date, amortized cost	48,349,132
Redeemable Preferred Stock [Member]
Securities without a specific due date, amortized cost	186,393
Securities without a specific due date, fair value	183,280
Securities without a specific due date, amortized cost	186,393
Total fixed maturity securities, amortized cost	186,393	186,393
Total fixed maturity securities, fair value	$ 183,280	$ 170,560

Note 2 - Investments - Schedule

Note 2 - Investments - Schedule of Cost or Amortized cost and Estimated Fair Values of Investments (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Amortized Cost	$ 120,448,405	$ 119,336,041
Debt Securities, Available-for-Sale	114,743,833	110,955,697
Gross Unrealized Gains	1,455,599	724,472
Gross Unrealized Losses	(7,160,171)	(9,104,816)
Fixed maturity securities, amortized cost	120,448,405	119,336,041
US Treasury Securities [Member]
Amortized Cost	1,351,018	1,351,768
Debt Securities, Available-for-Sale	1,326,055	1,289,774
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(24,963)	(61,994)
Fixed maturity securities, amortized cost	1,351,018	1,351,768
MBS,ABS,CMBS [Member]
Amortized Cost	48,349,132	49,400,028
Debt Securities, Available-for-Sale	47,141,221	47,020,328
Gross Unrealized Gains	716,346	283,957
Gross Unrealized Losses	(1,924,257)	(2,663,657)
Fixed maturity securities, amortized cost	48,349,132	49,400,028
Corporate Debt Securities [Member]
Amortized Cost	47,980,649	45,764,492
Debt Securities, Available-for-Sale	46,192,658	42,981,718
Gross Unrealized Gains	548,532	287,412
Gross Unrealized Losses	(2,336,523)	(3,070,186)
Fixed maturity securities, amortized cost	47,980,649	45,764,492
US States and Political Subdivisions Debt Securities [Member]
Amortized Cost	22,581,213	22,633,360
Debt Securities, Available-for-Sale	19,900,619	19,493,317
Gross Unrealized Gains	190,410	153,103
Gross Unrealized Losses	(2,871,004)	(3,293,146)
Fixed maturity securities, amortized cost	22,581,213	22,633,360
Redeemable Preferred Stock [Member]
Amortized Cost	186,393	186,393
Debt Securities, Available-for-Sale	183,280	170,560
Gross Unrealized Gains	311	0
Gross Unrealized Losses	(3,424)	(15,833)
Fixed maturity securities, amortized cost	$ 186,393	$ 186,393

Note 2 - Investments - Fair Val

Note 2 - Investments - Fair Value of Securities in Unrealized Loss Position (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Fair value, less than 12 Months	$ 1,304,022	$ 8,971,631
Fair value, 12 months or longer	62,551,076	71,136,951
Fair value	63,855,098	80,108,582
Amortized cost, less than 12 Months	1,305,061	9,101,929
Amortized cost, 12 months or longer	69,710,208	80,111,469
Amortized cost	71,015,269	89,213,398
Unrealized loss, less than 12 Months	(1,039)	(130,298)
Unrealized loss, 12 months or longer	(7,159,132)	(8,974,518)
Unrealized loss	(7,160,171)	(9,104,816)
US Treasury Securities [Member]
Fair value, less than 12 Months	0	0
Fair value, 12 months or longer	1,326,055	1,289,774
Fair value	1,326,055	1,289,774
Amortized cost, less than 12 Months	0	0
Amortized cost, 12 months or longer	1,351,018	1,351,768
Amortized cost	1,351,018	1,351,768
Unrealized loss, less than 12 Months	0	0
Unrealized loss, 12 months or longer	(24,963)	(61,994)
Unrealized loss	(24,963)	(61,994)
MBS,ABS,CMBS [Member]
Fair value, less than 12 Months	505,082	8,345,340
Fair value, 12 months or longer	19,582,844	24,323,865
Fair value	20,087,926	32,669,205
Amortized cost, less than 12 Months	505,315	8,462,010
Amortized cost, 12 months or longer	21,506,868	26,870,852
Amortized cost	22,012,183	35,332,862
Unrealized loss, less than 12 Months	(233)	(116,670)
Unrealized loss, 12 months or longer	(1,924,024)	(2,546,987)
Unrealized loss	(1,924,257)	(2,663,657)
Corporate Debt Securities [Member]
Fair value, less than 12 Months	0	477,051
Fair value, 12 months or longer	28,991,279	33,352,754
Fair value	28,991,279	33,829,805
Amortized cost, less than 12 Months	0	478,370
Amortized cost, 12 months or longer	31,327,802	36,421,621
Amortized cost	31,327,802	36,899,991
Unrealized loss, less than 12 Months	0	(1,319)
Unrealized loss, 12 months or longer	(2,336,523)	(3,068,867)
Unrealized loss	(2,336,523)	(3,070,186)
US States and Political Subdivisions Debt Securities [Member]
Fair value, less than 12 Months	776,030	0
Fair value, 12 months or longer	12,544,802	12,149,238
Fair value	13,320,832	12,149,238
Amortized cost, less than 12 Months	776,741	0
Amortized cost, 12 months or longer	15,415,095	15,442,384
Amortized cost	16,191,836	15,442,384
Unrealized loss, less than 12 Months	(711)	0
Unrealized loss, 12 months or longer	(2,870,293)	(3,293,146)
Unrealized loss	(2,871,004)	(3,293,146)
Redeemable Preferred Stock [Member]
Fair value, less than 12 Months	22,910	149,240
Fair value, 12 months or longer	106,096	21,320
Fair value	129,006	170,560
Amortized cost, less than 12 Months	23,005	161,549
Amortized cost, 12 months or longer	109,425	24,844
Amortized cost	132,430	186,393
Unrealized loss, less than 12 Months	(95)	(12,309)
Unrealized loss, 12 months or longer	(3,329)	(3,524)
Unrealized loss	$ (3,424)	$ (15,833)

Note 3 - Fair Value Disclosur_3

Note 3 - Fair Value Disclosures (Details Textual) $ in Thousands	Sep. 30, 2024 USD ($)
Assets, Fair Value Disclosure	$ 0

Note 3 - Fair Value Disclosur_4

Note 3 - Fair Value Disclosures - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale	$ 114,743,833	$ 110,955,697
Equity securities	17,394,612	15,087,917
Total marketable investments measured at fair value	132,138,445	126,043,614
Fair Value, Inputs, Level 1 [Member]
Debt Securities, Available-for-Sale	1,326,055	1,289,774
Equity securities	14,470,556	12,191,621
Total marketable investments measured at fair value	15,796,611	13,481,395
Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	113,417,778	109,665,923
Equity securities	2,924,056	2,896,296
Total marketable investments measured at fair value	116,341,834	112,562,219
US Treasury Securities [Member]
Debt Securities, Available-for-Sale	1,326,055	1,289,774
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Debt Securities, Available-for-Sale	1,326,055	1,289,774
MBS,ABS,CMBS [Member]
Debt Securities, Available-for-Sale	47,141,221	47,020,328
MBS,ABS,CMBS [Member] | Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	47,141,221	47,020,328
Corporate Debt Securities [Member]
Debt Securities, Available-for-Sale	46,192,658	42,981,718
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	46,192,658	42,981,718
US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-Sale	19,900,619	19,493,317
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	19,900,619	19,493,317
Redeemable Preferred Stock [Member]
Debt Securities, Available-for-Sale	183,280	170,560
Redeemable Preferred Stock [Member] | Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	183,280	170,560
Common Stock [Member]
Equity securities	14,470,556	12,191,621
Common Stock [Member] | Fair Value, Inputs, Level 1 [Member]
Equity securities	14,470,556	12,191,621
Common Stock [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities	0
Preferred Stock [Member]
Equity securities	2,924,056	2,896,296
Preferred Stock [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities	$ 2,924,056	$ 2,896,296

Note 4 - Debt (Details Textual)

Note 4 - Debt (Details Textual) - USD ($)		9 Months Ended
	Jul. 05, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Long-Term Debt		$ 15,000,000		$ 15,000,000
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Prime Rate [Member]
Revolving Credit Facility [Member] | Quad City Bank & Trust [Member]
Debt Instrument, Collateral Amount		4,000,000
Long-Term Line of Credit, Total		0
Debt Instrument, Basis Spread on Variable Rate	0.54%
Line of Credit Facility, Maximum Borrowing Capacity		4,000,000
Debt Covenant Adjusted Capital		21,000,000
Revolving Credit Facility [Member] | Quad City Bank & Trust [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	6%
Revolving Credit Facility [Member] | American Bank & Trust [Member]
Interest Expense, Operating and Nonoperating		0	$ 0
One Loan [Member]
Debt Instrument, Face Amount		$ 6,000,000
Debt Instrument, Interest Rate, Stated Percentage		1.40%
Federal Home Loan Bank of Chicago [Member]
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available		$ 53,100,000
Line of Credit Facility Maximum Borrowing Capacity Percent		25%
Advance from Federal Home Loan Bank		$ 15,000,000
Debt Instrument, Term (Year)		5 years
Debt, Weighted Average Interest Rate		1.21%
Debt Instrument, Collateral Amount		$ 18,900,000

Note 5 - Reinsurance (Details T

Note 5 - Reinsurance (Details Textual)	12 Months Ended
	Dec. 31, 2023 USD ($)
Casualty Business [Member] | Maximum [Member]
Reinsurance, Amount Retained, Per Life	$ 1,000,000
Property [Member]
Reinsurance Maximum Individual Risk	$ 1,000,000

Note 5 - Reinsurance - Summary

Note 5 - Reinsurance - Summary of Effects of Reinsurance (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Direct WRITTEN	$ 27,661,918	$ 24,495,429	$ 76,788,373	$ 68,899,622
Reinsurance assumed WRITTEN	70,721	60,457	94,323	135,570
Reinsurance ceded WRITTEN	(3,514,356)	(2,870,582)	(10,534,586)	(7,865,311)
Net WRITTEN	24,218,283	21,685,304	66,348,110	61,169,881
Direct EARNED	25,126,580	22,057,631	72,749,157	63,468,235
Reinsurance assumed EARNED	64,138	54,269	97,545	127,080
Reinsurance ceded EARNED	(3,479,311)	(2,878,383)	(10,514,736)	(8,066,448)
Net EARNED	21,711,407	19,233,517	62,331,966	55,528,867
Direct	15,088,964	17,854,337	43,628,846	43,754,741
Reinsurance assumed	46,296	18,080
Reinsurance ceded	(991,057)	(4,435,953)
Net	14,144,203	13,436,464	41,034,199	36,698,631
Direct WRITTEN	27,661,918	24,495,429	76,788,373	68,899,622
Reinsurance assumed WRITTEN	70,721	60,457	94,323	135,570
Direct EARNED	25,126,580	22,057,631	72,749,157	63,468,235
Reinsurance assumed EARNED	64,138	54,269	97,545	127,080
Direct	$ 15,088,964	$ 17,854,337	43,628,846	43,754,741
Reinsurance assumed			69,403	58,499
Reinsurance ceded			$ (2,664,050)	$ (7,114,609)

Note 6 - Unpaid Losses and Se_3

Note 6 - Unpaid Losses and Settlement Expenses (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Prior Year Claims and Claims Adjustment Expense	$ 5,433,000	$ 2,105,000	$ 8,168,000	$ 3,366,000
Liquor Liability [Member]
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims, Percentage Increase (Decrease)			79.30%
Businessowner's Property [Member]
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims, Percentage Increase (Decrease)			15.10%

Note 6 - Unpaid Losses and Se_4

Note 6 - Unpaid Losses and Settlement Expenses - Schedule of Liability for Unpaid Claims and Claim Adjustment Expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Gross	$ 79,264,000	$ 76,584,000	$ 71,919,585	$ 67,614,000
Less: Ceded	12,374,000	14,603,000	12,736,579	13,610,000
Less: CECL allowance for reinsurance recoverable on unpaid losses	79,000	0	82,000	0
Net	66,811,000	61,981,000	59,101,000	54,004,000
Current year, incurred	8,711,000	11,331,000	32,866,000	33,333,000
Prior years, incurred	5,433,000	2,105,000	8,168,000	3,366,000
Total incurred	14,144,000	13,436,000	41,034,000	36,699,000
Current year, paid	3,439,000	4,329,000	8,410,000	9,045,000
Prior years, paid	6,534,000	7,011,000	20,743,000	17,581,000
Total paid	9,973,000	11,340,000	29,153,000	26,626,000
Net unpaid losses and settlement expense - end of the period	70,982,000	64,077,000	70,982,000	64,077,000
Plus: Reinsurance recoverable on unpaid losses net of CECL	12,519,808	16,350,000	12,519,808	16,350,000
Plus: CECL allowance for reinsurance recoverable on unpaid losses1	80,000	115,000	80,000	115,000
Unpaid losses and settlement expenses	$ 83,582,487	$ 80,542,000	$ 83,582,487	$ 80,542,000

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Effective Income Tax Rate Reconciliation, Percent	21.70%	20.60%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%
Tax Credit Carryforward, Amount	$ 0		$ 0
Open Tax Year			2020 2021 2022 2023 2024
Operating Loss Carryforwards	$ 0		$ 0

Note 7 - Income Taxes - Schedul

Note 7 - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Provision for income taxes at the statutory federal tax rates	$ 549,949	$ (203,241)	$ 954,385	$ 369,439
Tax-exempt interest income	(7,882)	(8,450)	(23,717)	(27,316)
Dividends received deduction	(10,391)	(18,802)	(29,645)	(59,537)
Proration of tax-exempt interest and dividends received deduction	4,338	6,604	12,671	21,074
Nondeductible expenses	23,240	22,512	73,585	57,555
Officer life insurance, net	2,459	2,527	(2,109)	1,949
Other	4,900	0
Total	$ 566,613	$ (198,850)	$ 985,170	$ 363,164

Note 8 - Employee Benefits (Det

Note 8 - Employee Benefits (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares (in shares)	350,000
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased (in dollars per share)	$ 10
Employee Stock Ownership Plan (ESOP), Cash Contributions to ESOP	$ 0	$ 0
Employee Stock Ownership Plan (ESOP), Compensation Expense	$ 325,979	$ 279,912
Employee Stock Ownership Plan (ESOP), Number of Committed-to-be-Released Shares (in shares)	17,546	17,530
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years
Share-Based Payment Arrangement, Expense	$ 290,943	$ 172,253
Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	0.33%

Note 8 - Employee Benefits - Re

Note 8 - Employee Benefits - Restricted Stock Unit Activity (Details)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Nonvested Balance (in shares) | shares	19,787
Nonvested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 15.87
Granted, Restricted Stock Units (in shares) | shares	20,100
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 16
Vested, Restricted Stock Units (in shares) | shares	(18,229)
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 15.96
Nonvested Balance (in shares) | shares	21,658
Nonvested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 15.92