Security National Financial (SNFCA) 10-Q14 Nov 142014 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Nov. 14, 2014	Nov. 14, 2014
	Sep. 30, 2014	Class A Common Stock	Class C Common Stock
Entity Registrant Name	'SECURITY NATIONAL FINANCIAL CORP	'	'
Document Type	'10-Q	'	'
Document Period End Date	30-Sep-14	'	'
Amendment Flag	'false	'	'
Entity Central Index Key	'0000318673	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Voluntary Filers	'No	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q3	'	'
Entity Common Stock, Shares Outstanding	'	11,850,864	1,328,820

Balance_Sheet

Balance Sheet (USD $)	Sep. 30, 2014	Dec. 31, 2013
Assets	'	'
Fixed maturity securities, held to maturity, at amortized cost	$135,540,628	$143,466,494
Equity securities, available for sale, at estimated fair value	6,725,976	4,498,756
Mortgage loans on real estate and construction loans, held for investment net of allowances for losses of $1,871,892 and $1,652,090 for 2014 and 2013	122,765,566	102,781,878
Real estate held for investment, net of accumulated depreciation of $10,924,251 and $9,658,599 for 2014 and 2013	105,643,820	99,760,475
Policy and other loans, net of allowances for doubtful accounts of $583,498 and $269,175 for 2014 and 2013	33,216,082	19,724,006
Short-term investments	25,024,278	12,135,719
Accrued investment income	2,665,452	2,485,054
Total investments	431,581,802	384,852,382
Cash and cash equivalents	32,550,606	38,203,164
Mortgage loans sold to investors	64,440,631	77,179,652
Receivables, net	15,489,078	11,652,572
Restricted assets	9,524,359	6,670,980
Cemetery perpetual care trust investments	2,570,872	2,414,883
Receivable from reinsurers	7,609,152	12,033,877
Cemetery land and improvements	10,836,666	10,631,573
Deferred policy and pre-need contract acquisition costs	49,633,139	45,737,940
Mortgage servicing rights, net	6,905,069	4,844,101
Property and equipment, net	11,770,887	11,523,160
Value of business acquired	8,923,571	8,680,845
Goodwill	3,050,761	677,039
Other assets	5,626,137	3,655,286
Total Assets	660,512,730	618,757,454
Liabilities	'	'
Future life, annuity, and other benefits	475,063,771	452,130,649
Unearned premium reserve	5,022,573	5,173,785
Bank and other loans payable	22,141,336	18,289,438
Deferred pre-need cemetery and mortuary contract revenues	13,110,467	13,176,476
Cemetery perpetual care obligation	3,363,338	3,266,131
Accounts payable	2,439,132	2,850,575
Other liabilities and accrued expenses	25,981,893	20,167,363
Income taxes	19,548,431	15,951,848
Total liabilities	566,670,941	531,006,265
Stockholders' Equity	'	'
Additional paid-in capital	23,675,818	23,215,875
Accumulated other comprehensive income, net of taxes	1,476,299	1,218,396
Retained earnings	44,558,935	39,666,587
Treasury stock at cost - 994,434 Class A shares in 2014 and 1,141,021 Class A shares in 2013	-2,228,631	-2,624,625
Total stockholders' equity	93,841,789	87,751,189
Total Liabilities and Stockholders' Equity	660,512,730	618,757,454
Class A Common Stock	'	'
Stockholders' Equity	'	'
Common stock	23,701,728	23,614,574
Class B Common Stock	'	'
Stockholders' Equity	'	'
Common stock	'	'
Class C Common Stock	'	'
Stockholders' Equity	'	'
Common stock	$2,657,640	$2,660,382

Balance_Sheet_Parenthetical

Balance Sheet Parenthetical (USD $)	Sep. 30, 2014	Dec. 31, 2013
Allowance for losses on mortgage loans on real estate and construction loans, held for investment	$1,871,892	$1,652,090
Accumulated depreciation on real estate held for investment	10,924,251	9,658,599
Allowance for doubtful accounts on policy and other loans	$583,498	$269,175
Class A Common Stock	'	'
Common Stock Par Value	$2	$2
Common Stock Authorized	20,000,000	20,000,000
Common Stock Issued	11,850,864	11,807,287
Treasury Stock	994,434	1,141,021
Class B Common Stock	'	'
Common Stock Par Value	$1	$1
Common Stock Authorized	5,000,000	5,000,000
Common Stock Issued	'	'
Common Stock Outstanding	'	'
Class C Common Stock	'	'
Common Stock Par Value	$2	$2
Common Stock Authorized	2,000,000	2,000,000
Common Stock Issued	1,328,820	1,330,191

Income_Statement

Income Statement (USD $)	3 Months Ended		9 Months Ended
Income Statement (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues:	'	'	'	'
Insurance premiums and other considerations	$13,804,510	$12,593,886	$40,268,943	$37,920,272
Net investment income	8,191,962	5,254,047	20,541,749	15,281,108
Net mortuary and cemetery sales	2,490,280	2,887,855	8,768,224	9,024,671
Realized gains on investments and other assets	429,910	194,727	968,755	1,177,487
Other than temporary impairments on investments	-383,776	-30,000	-443,776	-205,922
Mortgage fee income	36,235,813	28,897,521	93,546,650	101,660,436
Other income	957,093	754,755	2,540,253	1,879,262
Total revenues	61,725,792	50,552,791	166,190,798	166,737,314
Benefits and expenses:	'	'	'	'
Death benefits	6,641,923	6,144,319	20,400,042	19,464,984
Surrenders and other policy benefits	707,539	632,374	1,850,302	2,061,202
Increase in future policy benefits	5,278,079	5,079,645	14,492,604	14,494,056
Amortization of deferred policy and pre-need acquisition costs and value of business acquired	1,854,041	1,178,579	4,750,976	3,764,103
Commissions	17,134,597	14,361,623	43,880,642	52,809,618
Salaries	10,079,539	8,492,420	28,195,576	24,237,358
Provision for loan losses and loss reserve	1,063,451	395,605	2,006,876	1,663,895
Costs related to funding mortgage loans	1,932,627	1,544,229	5,141,946	5,190,829
Other expenses	12,283,722	9,626,035	34,083,020	29,568,910
Interest expense	954,610	667,237	2,238,722	2,352,319
Cost of goods and services sold-mortuaries and cemeteries	418,524	466,441	1,419,868	1,468,613
Total benefits and expenses	58,348,652	48,588,507	158,460,574	157,075,887
Earnings before income taxes	3,377,140	1,964,284	7,730,224	9,661,427
Income tax expense	-1,239,318	-697,793	-2,829,491	-3,562,425
Net earnings	$2,137,822	$1,266,491	$4,900,733	$6,099,002
Net earnings per Class A Equivalent common share (1)	$0.18	$0.11	$0.41	$0.52
Net earnings per Class A Equivalent common share-assuming dilution (1)	$0.17	$0.10	$0.40	$0.49
Weighted-average Class A equivalent common share outstanding (1)	11,840,713	11,985,488	11,873,045	11,776,015
Weighted-average Class A equivalent common shares outstanding-assuming dilution (1)	12,287,809	12,532,331	12,295,620	12,373,364

Comprehensive_Income_Statement

Comprehensive Income Statement (USD $)	3 Months Ended		9 Months Ended
Comprehensive Income Statement (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Comprehensive Income Statement	'	'	'	'
Net earnings	$2,137,822	$1,266,491	$4,900,733	$6,099,002
Net unrealized gains (losses) on derivative instruments	-429,209	-982,064	333,725	-799,028
Net unrealized gains (losses) on available for sale securities	-235,888	44,199	-75,822	177,141
Other comprehensive income	-665,097	-937,865	257,903	-621,887
Comprehensive income	$1,472,725	$328,626	$5,158,636	$5,477,115

Statements_of_Stockholders_Equ

Statements of Stockholders' Equity (USD $)	Class A Common Stock	Class C Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Treasury Stock	Total
Balance at Dec. 31, 2012	$21,687,152	$2,194,820	$21,262,140	$1,934,359	$35,114,072	($2,380,434)	$79,812,109
Net earnings	'	'	'	'	6,099,002	'	6,099,002
Other comprehensive loss	'	'	'	-621,887	'	'	-621,887
Grant of stock options	'	'	66,711	'	'	'	66,711
Exercise of stock options	714,572	422,422	-344,545	'	'	-543,334	249,115
Sale of treasury stock	'	'	321,824	'	'	195,120	516,944
Stock Dividends	-200	'	-526	'	726	'	'
Conversion Class C to Class A	83,246	-83,245	-1	'	'	'	'
Balance at Sep. 30, 2013	22,484,770	2,533,997	21,305,603	1,312,472	41,213,800	-2,728,648	86,121,994
Balance at Dec. 31, 2013	23,614,574	2,660,382	23,215,875	1,218,396	39,666,587	-2,624,625	87,751,189
Net earnings	'	'	'	'	4,900,733	'	4,900,733
Other comprehensive loss	'	'	'	257,903	'	'	257,903
Grant of stock options	'	'	237,398	'	'	'	237,398
Reverse stock split true up	'	30	'	'	-30	'	'
Exercise of stock options	80,936	'	-22,864	'	'	'	58,072
Sale of treasury stock	'	'	240,501	'	'	395,994	636,495
Stock Dividends	3,446	-1	4,910	'	-8,355	'	'
Conversion Class C to Class A	2,772	-2,771	-2	'	'	'	-1
Balance at Sep. 30, 2014	$23,701,728	$2,657,640	$23,675,818	$1,476,299	$44,558,935	($2,228,631)	$93,841,789

Statement_of_Cash_Flows

Statement of Cash Flows (USD $)	9 Months Ended
Statement of Cash Flows (USD $)	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:	'	'
Net cash provided by operating activities	$36,391,145	$43,181,923
Cash flows from investing activities:	'	'
Purchase-fixed maturity securities	-1,089,843	-22,178,297
Calls and maturities - fixed maturity securities	8,930,341	6,684,365
Purchase - equity securities	-4,859,850	-2,347,616
Sales - equity securities	2,679,292	3,127,298
Purchase of short-term investments	-15,166,706	-16,369,471
Sales of short-term investments	2,278,147	38,837,597
Purchases of restricted assets	-2,818,985	-6,068,005
Changes in assets for perpetual care trusts	-173,172	-187,387
Amount received for perpetual care trusts	97,207	89,235
Mortgage, policy, and other loans made	-212,307,189	-118,810,066
Payments received for mortgage, policy and other loans	177,332,341	99,118,375
Purchase of property and equipment	-1,093,783	-2,717,237
Disposal of property and equipment	'	350
Purchase of real estate	-10,484,664	-27,222,603
Sale of real estate	3,491,378	6,672,446
Cash received from reinsurance	13,553,864	'
Cash paid for purchase of subsidiaries, net of cash acquired	-3,000,000	'
Net cash used in investing activities	-42,631,622	-41,371,016
Cash flows from financing activities:	'	'
Annuity contract receipts	7,735,783	7,102,573
Annuity contract withdrawals	-11,079,789	-11,563,042
Proceeds from stock options exercised	58,072	249,115
Repayment of bank loans on notes and contracts	-1,772,665	-1,738,501
Proceeds from borrowing on bank loans	5,646,518	4,789,916
Change in line of credit borrowings	'	1,391,796
Net cash used in financing activities	587,919	231,857
Net change in cash and cash equivalents	-5,652,558	2,042,764
Cash and cash equivalents at beginning of period	38,203,164	33,494,284
Cash and cash equivalents at end of period	32,550,606	35,537,048
Non Cash Investing and Financing Activities	'	'
Mortgage loans foreclosed into real estate	$886,576	$2,884,297

1_Basis_of_Presentation

1) Basis of Presentation	9 Months Ended
1) Basis of Presentation	Sep. 30, 2014
Notes	'
1) Basis of Presentation	'
	1) Basis of Presentation

	The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10 Q and Articles 8 and 10 of Regulation S X. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. These financial statements should be read in conjunction with the consolidated financial statements of the Company and notes thereto for the year ended December 31, 2013, included in the Company’s Annual Report on Form 10-K (file number 000-09341). In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.

	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

	The estimates susceptible to significant change are those used in determining the liability for future policy benefits and claims, those used in determining valuation allowances for mortgage loans on real estate and construction loans held for investment, those used in determining loan loss reserve, and those used in determining the estimated future costs for pre-need sales. Although some variability is inherent in these estimates, management believes the amounts provided are fairly stated in all material respects.

	The Stockholder’s Equity section of the balance sheet has been updated to account for the 1 for 10 reverse stock split of the Class C common stock that was approved by the shareholders on July 2, 2014. The effective date of the reverse stock split was August 1, 2014.

2_Recent_Accounting_Pronouncem

2) Recent Accounting Pronouncements	9 Months Ended
2) Recent Accounting Pronouncements	Sep. 30, 2014
Notes	'
2) Recent Accounting Pronouncements	'
	2) Recent Accounting Pronouncements

	Accounting Standards Update (“ASU”) No. 2014-11: "Transfers and Servicing (Topic 860) - Repurchase to Maturity Transactions, Repurchase Financings, and Disclosures" – Issued in June 2014, ASU 2014-11 aligns the accounting for repurchase to maturity transactions and repurchase agreements executed as a repurchase financing with the accounting for other typical repurchase agreements. Going forward, these transactions would all be accounted for as secured borrowings. The new authoritative guidance is effective for the first interim or annual period beginning after December 15, 2014. In addition the disclosure of certain transactions accounted for as a sale is effective for the first interim or annual period beginning on or after December 15, 2014, and the disclosure for transactions accounted for as secured borrowings is required for annual periods beginning after December 15, 2014, and interim periods beginning after March 15, 2015. Early adoption is prohibited. This new guidance is not expected to have a significant impact on the Company’s results of operations or financial position.

	ASU No. 2014-09: “Revenue from Contracts with Customers” – Issued in May 2014, ASU 2014-09 supersedes the revenue recognition requirements in ASC Topic 605, “Revenue Recognition”, and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Insurance contracts are excluded from the scope of this new guidance. The new authoritative guidance is effective for interim and annual periods beginning after December 15, 2016 and is not expected to have a significant impact on the Company’s results of operations or financial position.

	ASU No. 2014-04: “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force)” - In January 2014, ASU No. 2014-04 amended ASC Topic 310, "Receivables" to reduce diversity by clarifying when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The new authoritative guidance is effective for interim and annual periods beginning after December 15, 2014 and is not expected to have a significant impact on the Company’s results of operations or financial position.

	The Company has reviewed other recent accounting pronouncements and has determined that they will not impact the Company’s results of operations or financial position.

3_Investments

3) Investments	9 Months Ended
3) Investments	Sep. 30, 2014
Notes	'
3) Investments	'
	3) Investments

	The Company’s investments in fixed maturity securities held to maturity and equity securities available for sale as of September 30, 2014 are summarized as follows:

			Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	September 30, 2014:
	Fixed maturity securities held to maturity carried at amortized cost:
	Bonds:
	U.S. Treasury securities and obligations of U.S. Government agencies		$ 1,875,494		$ 319,767		$ -		$ 2,195,261
	Obligations of states and political subdivisions		1,735,660		230,895		(5,449)		1,961,106
	Corporate securities including public utilities		127,600,931		15,174,250		(257,852)		142,517,329
	Mortgage-backed securities		3,716,520		278,741		(11,060)		3,984,201
	Redeemable preferred stock		612,023		20,107		-		632,130
	Total fixed maturity securities held to maturity		$ 135,540,628		$ 16,023,760		$ (274,361)		$ 151,290,027


			Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	September 30, 2014:

	Equity securities available for sale at estimated fair value:

	Common stock:

	Industrial, miscellaneous and all other		$ 7,139,879		$ 237,186		$ (651,089)		$ 6,725,976

	Total securities available for sale carried at estimated fair value		$ 7,139,879		$ 237,186		$ (651,089)		$ 6,725,976

	Mortgage loans on real estate and construction loans held for investment at amortized cost:
	Residential		$ 51,600,930
	Residential construction		29,632,638
	Commercial		43,403,890
	Less: Allowance for loan losses		(1,871,892)

	Total mortgage loans on real estate and construction loans held for investment		$ 122,765,566

	Real estate held for investment - net of depreciation		$ 105,643,820

	Policy and other loans at amortized cost:
	Policy loans		$ 7,294,962
	Other loans		26,504,618
	Less: Allowance for doubtful accounts		(583,498)

	Total policy and other loans at amortized cost		$ 33,216,082

	Short-term investments at amortized cost		$ 25,024,278

	The Company’s investments in fixed maturity securities held to maturity and equity securities available for sale as of December 31, 2013 are summarized as follows:

			Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	December 31, 2013:
	Fixed maturity securities held to maturity carried at amortized cost:
	Bonds:
	U.S. Treasury securities and obligations of U.S. Government agencies		$ 2,284,261		$ 298,901		$ -		$ 2,583,162
	Obligations of states and political subdivisions		1,790,661		197,340		(9,404)		1,978,597
	Corporate securities including public utilities		134,257,468		10,513,448		(1,394,919)		143,375,997
	Mortgage-backed securities		4,522,081		206,617		(11,351)		4,717,347
	Redeemable preferred stock		612,023		12,994		(5,900)		619,117
	Total fixed maturity securities held to maturity		$ 143,466,494		$ 11,229,300		$ (1,421,574)		$ 153,274,220


			Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	December 31, 2013:

Equity securities available for sale at estimated fair value:

Common stock:

Industrial, miscellaneous and all other		$ 4,783,936		$ 240,206		$ (525,386)		$ 4,498,756

Total securities available for sale carried at estimated fair value		$ 4,783,936		$ 240,206		$ (525,386)		$ 4,498,756

Mortgage loans on real estate and construction loans held for investment at amortized cost:
Residential		$ 49,868,486
Residential construction		12,912,473
Commercial		41,653,009
Less: Allowance for loan losses		(1,652,090)

Total mortgage loans on real estate and construction loans held for investment		$ 102,781,878

Real estate held for investment - net of depreciation		$ 99,760,475

Policy and other loans at amortized cost:
Policy loans		$ 7,520,376
Other loans		12,472,805
Less: Allowance for doubtful accounts		(269,175)

Total policy and other loans at amortized cost		$ 19,724,006

Short-term investments at amortized cost		$ 12,135,719

Fixed Maturity Securities

The following tables summarize unrealized losses on fixed maturity securities, which are carried at amortized cost, at September 30, 2014 and December 31, 2013. The unrealized losses were primarily related to interest rate fluctuations. The tables set forth unrealized losses by duration and number of investment positions, together with the fair value of the related fixed maturity securities:

		Unrealized Losses for Less than Twelve Months		No. of Investment Positions		Unrealized Losses for More than Twelve Months		No. of Investment Positions		Total Unrealized Loss
At September 30, 2014
Obligations of states and political subdivisions		$ -		0		$ 5,449		1		$ 5,449
Corporate securities including public utilities		35,539		11		222,312		14		257,851
Mortgage-backed securities		3,023		1		8,038		1		11,061
Redeemable preferred stock		-		0		-		0		-
Total unrealized losses		$ 38,562		12		$ 235,799		16		$ 274,361
Fair Value		$ 1,972,915				$ 3,685,263				$ 5,658,178

At December 31, 2013
Obligations of states and political subdivisions		$ 7,131		1		$ 2,273		1		$ 9,404
Corporate securities including public utilities		1,134,415		72		260,504		10		1,394,919
Mortgage-backed securities		3,109		1		8,242		1		11,351
Redeemable preferred stock		5,900		1		-		0		5,900
Total unrealized losses		$ 1,150,555		75		$ 271,019		12		$ 1,421,574
Fair Value		$ 22,002,277				$ 2,308,464				$ 24,310,741

As of September 30, 2014, the average market value of the related fixed maturities was 95.4% of amortized cost and the average market value was 94.5% of amortized cost as of December 31, 2013. During the three months ended September 30, 2014 and 2013 an other than temporary decline in fair value resulted in the recognition of credit losses on fixed maturity securities of $30,000 and $30,000, respectively, and for the nine months ended September 30, 2014 and 2013 an other than temporary decline in fair value resulted in the recognition of credit losses on fixed maturity securities of $90,000 and $90,000, respectively.

On a quarterly basis, the Company reviews its fixed maturity investment securities related to corporate securities and other public utilities, consisting of bonds and preferred stocks that are in a loss position. The review involves an analysis of the securities in relation to historical values, and projected earnings and revenue growth rates. Based on the analysis, a determination is made whether a security will likely recover from the loss position within a reasonable period of time. If it is unlikely that the investment will recover from the loss position, the loss is considered to be other than temporary, the security is written down to the impaired value and an impairment loss is recognized.

Equity Securities

The following tables summarize unrealized losses on equity securities that were carried at estimated fair value based on quoted trading prices at September 30, 2014 and December 31, 2013. The unrealized losses were primarily the result of decreases in fair value due to overall equity market declines. The tables set forth unrealized losses by duration and number of investment positions, together with the fair value of the related equity securities available-for-sale in a loss position:

		Unrealized Losses for Less than Twelve Months		No. of Investment Positions		Unrealized Losses for More than Twelve Months		No. of Investment Positions		Total Unrealized Losses
At September 30, 2014
Industrial, miscellaneous and all other		$ 180,607		157		$ 470,482		26		$ 651,089
Total unrealized losses		$ 180,607		157		$ 470,482		26		$ 651,089
Fair Value		$ 2,012,391				$ 706,005				$ 2,718,396

At December 31, 2013
Industrial, miscellaneous and all other		$ 119,450		28		$ 405,936		28		$ 525,386
Total unrealized losses		$ 119,450		28		$ 405,936		28		$ 525,386
Fair Value		$ 993,612				$ 772,345				$ 1,765,957

As of September 30, 2014, the average market value of the equity securities available for sale was 80.7% of the original investment and the average market value was 77.1% of the original investment as of December 31, 2013. The intent of the Company is to retain equity securities for a period of time sufficient to allow for the recovery in fair value. However, the Company may sell equity securities during a period in which the fair value has declined below the amount of the original investment. In certain situations new factors, including changes in the business environment, can change the Company’s previous intent to continue holding a security. During the three and nine months ended September 30, 2014 and 2013, there was no other than temporary decline in fair value.

On a quarterly basis, the Company reviews its investment in industrial, miscellaneous and all other equity securities that are in a loss position. The review involves an analysis of the securities in relation to historical values, price earnings ratios, projected earnings and revenue growth rates. Based on the analysis a determination is made whether a security will likely recover from the loss position within a reasonable period of time. If it is unlikely that the investment will recover from the loss position, the loss is considered to be other than temporary, the security is written down to the impaired value and an impairment loss is recognized.

The fair values of fixed maturity securities are based on quoted market prices, when available. For fixed maturity securities not actively traded, fair values are estimated using values obtained from independent pricing services, or in the case of private placements, are estimated by discounting expected future cash flows using a current market value applicable to the coupon rate, credit and maturity of the investments. The fair values for equity securities are based on quoted market prices.

The amortized cost and estimated fair value of fixed maturity securities at September 30, 2014, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

		Amortized Cost		Estimated Fair Value
Held to Maturity:
Due in 2014		$ 499,659		$ 502,075
Due in 2015 through 2018		27,866,510		30,602,507
Due in 2019 through 2023		36,361,408		40,559,482
Due after 2023		66,484,508		75,009,632
Mortgage-backed securities		3,716,520		3,984,201
Redeemable preferred stock		612,023		632,130
Total held to maturity		$ 135,540,628		$ 151,290,027

The amortized cost and estimated fair value of available for sale securities at September 30, 2014, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Equities are valued using the specific identification method.

		Amortized Cost		Estimated Fair Value
Available for Sale:
Due in 2014		$ -		$ -
Due in 2015 through 2018		-		-
Due in 2019 through 2023		-		-
Due after 2023		-		-
Non-redeemable preferred stock		-		-
Common stock		7,139,879		6,725,976
Total available for sale		$ 7,139,879		$ 6,725,976

The Company’s realized gains and losses, other than temporary impairments from investments and other assets, are summarized as follows:

		Three Months Ended September 30				Nine Months Ended September 30
		2014		2013		2014		2013
Fixed maturity securities held to maturity:
Gross realized gains		$ 211,403		$ 60,330		$ 258,951		$ 75,734
Gross realized losses		(66,459)		(20,796)		(68,742)		(35,964)
Other than temporary impairments		(30,000)		(30,000)		(90,000)		(90,000)

Securities available for sale:
Gross realized gains		77,386		59,041		214,303		298,423
Gross realized losses		(27,651)		-		(38,918)		(2,678)
Other than temporary impairments		-		-		-		-

Other assets:
Gross realized gains		352,151		96,152		720,082		841,972
Gross realized losses		(116,920)		-		(116,921)		-
Other than temporary impairments		(353,776)		-		(353,776)		(115,922)
Total		$ 46,134		$ 164,727		$ 524,979		$ 971,565


The net carrying amount of held to maturity securities sold was $1,599,184 and $1,455,835 for the nine months ended September 30, 2014 and the year ended December 31, 2013, respectively. The net realized loss related to these sales was $60,169 and $-0- for the three months ended September 30, 2014 and 2013, respectively, and the net realized gain related to these sales was $18,051 and $11,009 for the nine months ended September 30, 2014 and 2013, respectively. Certain circumstances lead to these decisions to sell.



There were no investments, aggregated by issuer, in excess of 10% of shareholders’ equity (before net unrealized gains and losses on available for sale securities) at September 30, 2014, other than investments issued or guaranteed by the United States Government.



Major categories of net investment income are as follows:



	Three Months Ended September 30				Nine Months Ended September 30
	2014		2013		2014		2013
Fixed maturity securities	$ 2,036,407		$ 2,131,804		$ 6,212,852		$ 6,141,648
Equity securities	73,110		53,123		163,109		157,612
Mortgage loans on real estate	2,216,711		1,151,536		5,605,882		3,189,020
Real estate	2,125,374		2,048,994		6,416,939		4,492,517
Policy and other loans	195,138		211,387		574,393		610,618
Short-term investments, principally gains on sale of mortgage loans and other	3,831,378		2,263,234		8,512,479		6,855,865
Gross investment income	10,478,118		7,860,078		27,485,654		21,447,280
Investment expenses	(2,286,156)		(2,606,031)		(6,943,905)		(6,166,172)
Net investment income	$ 8,191,962		$ 5,254,047		$ 20,541,749		$ 15,281,108



Net investment income includes income earned by the restricted assets of the cemeteries and mortuaries of $96,730 and $93,801 for the three months ended September 30, 2014 and 2013, respectively, and $268,729 and $259,810 for the nine months ended September 30, 2014 and 2013, respectively.



Net investment income on real estate consists primarily of rental revenue received under short-term leases.



Investment expenses consist primarily of depreciation, property taxes, operating expenses of real estate and an estimated portion of administrative expenses relating to investment activities.



Securities on deposit for regulatory authorities as required by law amounted to $9,285,577 at September 30, 2014 and $9,215,222 at December 31, 2013. The restricted securities are included in various assets under investments on the accompanying condensed consolidated balance sheets.



Mortgage Loans

Mortgage loans consist of first and second mortgages. The mortgage loans bear interest at rates ranging from 2.0% to 10.5%, maturity dates range from six months to 30 years and are secured by real estate. Concentrations of credit risk arise when a number of mortgage loan debtors have similar economic characteristics that would cause their ability to meet contractual obligations to be similarly affected by changes in economic conditions. Although the Company has a diversified mortgage loan portfolio consisting of residential mortgages, commercial loans and residential construction loans and requires collateral on all real estate exposures, a substantial portion of its debtors’ ability to honor obligations is reliant on the economic stability of the geographic region in which the debtors do business. At September 30, 2014, the Company had 39%, 22%, 13%, 10%, and 4% of its mortgage loans from borrowers located in the states of Utah, California, Texas, Florida, and Nevada, respectively. The mortgage loans on real estate balances on the consolidated balance sheet are reflected net of an allowance for loan losses of $1,871,892 and $1,652,090 at September 30, 2014 and December 31, 2013, respectively.

The Company establishes a valuation allowance for credit losses in its portfolio.

The following is a summary of the allowance for loan losses as a contra-asset account for the periods presented:

Allowance for Credit Losses and Recorded Investment in Mortgage Loans

	Commercial		Residential		Residential Construction		Total
30-Sep-14
Allowance for credit losses:
Beginning balance - January 1, 2014	$ 187,129		$ 1,364,847		$ 100,114		$ 1,652,090
Charge-offs	-		(38,444)		-		(38,444)
Provision	-		258,246		-		258,246
Ending balance -September 30, 2014	$ 187,129		$ 1,584,649		$ 100,114		$ 1,871,892

Ending balance: individually evaluated for impairment	$ -		$ 153,446		$ -		$ 153,446

Ending balance: collectively evaluated for impairment	$ 187,129		$ 1,431,203		$ 100,114		$ 1,718,446

Ending balance: loans acquired with deteriorated credit quality	$ -		$ -		$ -		$ -

Mortgage loans:
Ending balance	$ 43,403,890		$ 51,600,930		$ 29,632,638		$ 124,637,458

Ending balance: individually evaluated for impairment	$ -		$ 1,387,426		$ -		$ 1,387,426

Ending balance: collectively evaluated for impairment	$ 43,403,890		$ 50,213,504		$ 29,632,638		$ 123,250,032

Ending balance: loans acquired with deteriorated credit quality	$ -		$ -		$ -		$ -

31-Dec-13
Allowance for credit losses:
Beginning balance - January 1, 2013	$ -		$ 4,193,674		$ 46,187		$ 4,239,861
Charge-offs	-		(2,670,794)		(137,629)		(2,808,423)
Provision	187,129		(158,033)		191,556		220,652
Ending balance - December 31, 2013	$ 187,129		$ 1,364,847		$ 100,114		$ 1,652,090

Ending balance: individually evaluated for impairment	$ -		$ 152,745		$ -		$ 152,745

Ending balance: collectively evaluated for impairment	$ 187,129		$ 1,212,102		$ 100,114		$ 1,499,345

Ending balance: loans acquired with deteriorated credit quality	$ -		$ -		$ -		$ -

Mortgage loans:
Ending balance	$ 41,653,009		$ 49,868,486		$ 12,912,473		$ 104,433,968

Ending balance: individually evaluated for impairment	$ -		$ 1,518,327		$ -		$ 1,518,327

Ending balance: collectively evaluated for impairment	$ 41,653,009		$ 48,350,159		$ 12,912,473		$ 102,915,641

Ending balance: loans acquired with deteriorated credit quality	$ -		$ -		$ -		$ -

The following is a summary of the aging of mortgage loans for the periods presented:

Age Analysis of Past Due Mortgage Loans

	30-59 Days Past Due	60-89 Days Past Due	Greater Than 90 Days (1)	In Foreclosure (1)	Total Past Due	Current	Total Mortgage Loans	Allowance for Loan Losses	Net Mortgage Loans
30-Sep-14

Commercial	$ -	$ -	$ -	$ -	$ -	$ 43,403,890	$ 43,403,890	$ (187,129)	$ 43,216,761
Residential	1,525,136	2,082,232	5,433,523	1,387,426	10,428,317	41,172,613	51,600,930	(1,584,649)	50,016,281
Residential Construction	-	-	64,895	-	64,895	29,567,743	29,632,638	(100,114)	29,532,524

Total	$ 1,525,136	$ 2,082,232	$ 5,498,418	$ 1,387,426	$ 10,493,212	$ 114,144,246	$ 124,637,458	$ (1,871,892)	$ 122,765,566

31-Dec-13
Commercial	$ -	$ -	$ -	$ 4,973,745	$ 4,973,745	$ 36,679,264	$ 41,653,009	$ (187,129)	$ 41,465,880
Residential	1,646,953	1,604,847	5,867,501	1,518,327	10,637,628	39,230,858	49,868,486	(1,364,847)	48,503,639
Residential Construction	-	-	64,895	-	64,895	12,847,578	12,912,473	(100,114)	12,812,359

Total	$ 1,646,953	$ 1,604,847	$ 5,932,396	$ 6,492,072	$ 15,676,268	$ 88,757,700	$ 104,433,968	$ (1,652,090)	$ 102,781,878

(1) Interest income is not recognized on loans past due greater than 90 days or in foreclosure.

Impaired Mortgage Loans

Impaired mortgage loans include loans with a related specific valuation allowance or loans whose carrying amount has been reduced to the expected collectible amount because the impairment has been considered other than temporary. The recorded investment in and unpaid principal balance of impaired loans along with the related loan specific allowance for losses, if any, for each reporting period and the average recorded investment and interest income recognized during the time the loans were impaired were as follows:

Impaired Loans

	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
30-Sep-14
With no related allowance recorded:
Commercial	$ -		$ -		$ -		$ -		$ -
Residential	-		-		-		-		-
Residential construction	-		-		-		-		-

With an allowance recorded:
Commercial	$ -		$ -		$ -		$ -		$ -
Residential	1,387,426		1,387,426		153,446		1,387,426		-
Residential construction	-		-		-		-		-

Total:
Commercial	$ -		$ -		$ -		$ -		$ -
Residential	1,387,426		1,387,426		153,446		1,387,426		-
Residential construction	-		-		-		-		-

31-Dec-13
With no related allowance recorded:
Commercial	$ -		$ -		$ -		$ -		$ -
Residential	-		-		-		-		-
Residential construction	-		-		-		-		-

With an allowance recorded:
Commercial	$ -		$ -		$ -		$ -		$ -
Residential	1,518,327		1,518,327		152,745		1,518,327		-
Residential construction	-		-		-		-		-

Total:
Commercial	$ -		$ -		$ -		$ -		$ -
Residential	1,518,327		1,518,327		152,745		1,518,327		-
Residential construction	-		-		-		-		-

Credit Risk Profile Based on Performance Status

The Company’s mortgage loan portfolio is monitored based on performance of the loans. Monitoring a mortgage loan increases when the loan is delinquent or earlier if there is an indication of impairment. The Company defines non-performing mortgage loans as loans 90 days past due or on non-accrual status.

The Company’s performing and non-performing mortgage loans were as follows:

Mortgage Loan Credit Exposure
Credit Risk Profile Based on Payment Activity

	Commercial				Residential				Residential Construction			Total
	30-Sep-14		30-Dec-13		30-Sep-14		30-Dec-13		30-Sep-14		30-Dec-13	30-Sep-14	30-Dec-13

Performing	$ 43,403,890		$ 36,679,264		$ 44,779,981		$ 42,482,658		$ 29,567,743		$ 12,847,578	$ 117,751,614	$ 92,009,500
Nonperforming	-		4,973,745		6,820,949		7,385,828		64,895		64,895	6,885,844	12,424,468

Total	$ 43,403,890		$ 41,653,009		$ 51,600,930		$ 49,868,486		$ 29,632,638		$ 12,912,473	$ 124,637,458	$ 104,433,968
Non-Accrual Mortgage Loans

Once a loan is past due 90 days, it is the Company’s policy to end the accrual of interest income on the loan and write off any income that had been accrued. Interest not accrued on these loans totals $522,000 and $678,000 as of September 30, 2014 and December 31, 2013, respectively.

The following is a summary of mortgage loans on a nonaccrual status for the periods presented.

	Mortgage Loans on Nonaccrual Status

	As of September 30, 2014		As of December 31, 2013
Commercial	$ -		$ 4,973,745
Residential	6,820,949		7,385,828
Residential construction	64,895		64,895
Total	$ 6,885,844		$ 12,424,468

Loan Loss Reserve

The mortgage loan loss reserve is an estimate of probable losses at the balance sheet date that the Company will realize in the future on mortgage loans sold to third party investors.

The loan loss reserve analysis involves mortgage loans that have been sold to third party investors where the Company has received a demand from the investor. There are generally three types of demands: make whole, repurchase, or indemnification. These types of demands are more particularly described as follows:

Make whole demand – A make whole demand occurs when an investor forecloses on a property and then sells the property. The make whole amount is calculated as the difference between the original unpaid principal balance, accrued interest and fees, less the sale proceeds.

Repurchase demand – A repurchase demand usually occurs when there is a significant payment default, error in underwriting or detected loan fraud.

Indemnification demand – On certain loans the Company has negotiated a set fee that is to be paid in lieu of repurchase. The fee varies by investor and by loan product type.

When a repurchase demand is received from a third party investor, the relevant data is reviewed and captured so that an estimated future loss can be calculated. The key factors that are used in the estimated loss calculation are as follows: (i) lien position, (ii) payment status, (iii) claim type, (iv) unpaid principal balance, (v) interest rate, and (vi) validity of the demand. Other data is captured and is useful for management purposes; the actual estimated loss is generally based on these key factors. The Company conducts its own review upon the receipt of a repurchase demand. In many instances, the Company is able to resolve the issues relating to the repurchase demand by the third party investor without having to make any payments to the investor.

The following is a summary of the loan loss reserve that is included in other liabilities and accrued expenses:

	As of September 30 2014		As of December 31 2013
Balance, beginning of period	$ 5,506,532		$ 6,035,295
Provisions for losses	2,006,876		1,846,285
Charge-offs	(700,228)		(2,375,048)
Balance, end of period	$ 6,813,180		$ 5,506,532

The Company believes the loan loss reserve represents probable loan losses incurred as of the balance sheet date. The loan loss reserve may not be adequate, however, for claims asserted by third party investors. Actual loan loss experience could change, in the near-term, from the established reserve based upon claims asserted by third party investors. SecurityNational Mortgage disagrees with the repurchase demands and notices of potential claims from third party investors. Furthermore, SecurityNational Mortgage believes there is potential to resolve the alleged claims by third party investors on acceptable terms. If SecurityNational Mortgage is unable to resolve such claims on acceptable terms, legal action may ensue. In the event of legal action by any third party investor, SecurityNational Mortgage believes it has significant defenses to any such action and intends to vigorously defend itself against such action.

4_Stockbased_Compensation

4) Stock-based Compensation	9 Months Ended
4) Stock-based Compensation	Sep. 30, 2014
Notes	'
4) Stock-based Compensation	'
	4) Stock-Based Compensation

	The Company has three fixed option plans (the “2003 Plan”, the “2006 Plan” and the “2013 Plan”). Compensation expense for options issued of $108,872 and $4,122 has been recognized for these plans for the three months ended September 30, 2014 and 2013, respectively, and $237,398 and $66,711 for the nine months ended September 30, 2014 and 2013, respectively. As of September 30, 2014, the total unrecognized compensation expense related to the options issued in July 2014 and December 2013 were $133,223 and $46,589, respectively, which are expected to be recognized over the vesting periods of one year.

	The Company generally estimates the expected life of the options based upon the contractual term of the options adjusted for actual experience. Future volatility is estimated based upon the a weighted historical volatility of the Company’s Class A common stock and three peer company stocks over a period equal to the estimated life of the options. Common stock issued upon exercise of stock options are generally new share issuances rather than from treasury shares. A summary of the status of the Company’s stock incentive plans as of September 30, 2014, and the changes during the nine months ended September 30, 2014, are presented below:

		Number of Class A Shares	Weighted Average Exercise Price	Number of Class C Shares	Weighted Average Exercise Price

	Outstanding at December 31, 2013	405,133	$ 2.41	508,657	$ 2.00
	Granted	52,000	4.29	50,000	4.72
	Exercised	(40,468)	1.66	-
	Cancelled	(8,201)	2.29	-
	Outstanding at September 30, 2014	408,464	$ 2.75	558,657	$ 2.00

	As of September 30, 2014:
	Options exercisable	334,869	$ 2.40	495,532	$ 1.92

	As of September 30, 2014:
	Available options for future grant	412,480		55,000

	Weighted average contractual term of options
	outstanding at September 30, 2014	7.01 years		2.57 years

	Weighted average contractual term of options
	exercisable at September 30, 2014	6.45 years		1.80 years

	Aggregated intrinsic value of options
	outstanding at September 30, 2014 (1)	$913,166		$1,524,902

	Aggregated intrinsic value of options
	exercisable at September 30, 2014 (1)	$869,804		$1,512,402

	(1) The Company used a stock price of $4.97 as of September 30, 2014 to derive intrinsic value.

	The total intrinsic value (which is the amount by which the fair value of the underlying stock exceeds the exercise price of an option on the exercise date) of stock options exercised during the nine months ended September 30, 2014 and 2013 was $133,141 and $2,170,468, respectively.

5_Capital_Stock

5) Capital Stock	9 Months Ended
5) Capital Stock	Sep. 30, 2014
Notes	'
5) Capital Stock	'
	5) Capital Stock

	The Company has two classes of common stock with shares outstanding: Class A and Class C.

6_Earnings_Per_Share

6) Earnings Per Share	9 Months Ended
6) Earnings Per Share	Sep. 30, 2014
Notes	'
6) Earnings Per Share	'

	6) Earnings Per Share

	The basic and diluted earnings per share amounts were calculated as follows:

			Three Months Ended September 30		Nine Months Ended September 30
			2014	2013	2014	2013
	Numerator:
		Net earnings	$ 2,137,822	$ 1,266,491	$ 4,900,733	$ 6,099,002
	Denominator:
		Basic weighted-average shares outstanding	11,840,713	11,985,488	11,873,045	11,776,015
	Effect of dilutive securities:
		Employee stock options	447,096	546,843	422,575	597,349

		Diluted weighted-average shares outstanding	12,287,809	12,532,331	12,295,620	12,373,364

	Basic net earnings per share		$0.18	$0.11	$0.41	$0.52

	Diluted net earnings per share		$0.17	$0.10	$0.40	$0.49

	Net earnings per share amounts have been adjusted for the effect of annual stock dividends. For the nine months ended September 30, 2014 and 2013, there were 56,912 and 5,250 of anti-dilutive employee stock option shares, respectively, that were not included in the computation of diluted net loss per common share as their effect would be anti-dilutive.

7_Business_Segments

7) Business Segments	9 Months Ended
7) Business Segments	Sep. 30, 2014
Notes	'
7) Business Segments	'
	7) Business Segments

	Description of Products and Services by Segment

	The Company has three reportable business segments: life insurance, cemetery and mortuary, and mortgage. The Company’s life insurance segment consists of life insurance premiums and operating expenses from the sale of insurance products sold by the Company’s independent agency force and net investment income derived from investing policyholder and segment surplus funds. The Company’s cemetery and mortuary segment consists of revenues and operating expenses from the sale of at-need cemetery and mortuary merchandise and services at its mortuaries and cemeteries, pre-need sales of cemetery spaces after collection of 10% or more of the purchase price and the net investment income from investing segment surplus funds. The Company’s mortgage segment consists of loan fee income and expenses from the originations of residential and commercial mortgage loans and interest earned and interest expenses from warehousing pre-sold loans before the funds are received from financial institutional investors.

	Measurement of Segment Profit or Loss and Segment Assets

	The accounting policies of the reportable segments are the same as those described in the Significant Accounting Principles of the form 10K for the year ended December 31, 2013. Intersegment revenues are recorded at cost plus an agreed upon intercompany profit, and are eliminated upon consolidation.

	Factors Management Used to Identify the Enterprise’s Reportable Segments

	The Company’s reportable segments are business units that offer different products and are managed separately due to the different products and the need to report to the various regulatory jurisdictions.

		Life Insurance	Cemetery/ Mortuary	Mortgage	Eliminations	Consolidated
	For the Three Months Ended
	30-Sep-14
	Revenues from external customers	$ 21,552,754	$ 2,707,908	$37,465,130	$ -	$ 61,725,792
	Intersegment revenues	2,407,685	331,415	166,043	(2,905,143)	-
	Segment profit before income taxes	1,986,732	(119,548)	1,509,956	-	3,377,140

	For the Three Months Ended
	30-Sep-13
	Revenues from external customers	$ 17,341,200	$ 2,959,197	$ 30,252,394	$ -	$ 50,552,791
	Intersegment revenues	2,334,416	369,121	67,637	(2,771,174)	-
	Segment profit before income taxes	1,102,552	12,757	848,975	-	1,964,284

	For the nine Months Ended
	30-Sep-14
	Revenues from external customers	$ 59,836,068	$ 9,283,357	$ 97,071,373	$ -	$ 166,190,798
	Intersegment revenues	6,825,600	1,002,027	561,438	(8,389,065)	-
	Segment profit before income taxes	4,833,627	232,141	2,664,456	-	7,730,224

	Identifiable Assets	646,540,190	106,836,565	56,961,903	(149,825,928)	660,512,730
	Goodwill	2,765,570	285,191	-	-	3,050,761

	For the nine Months Ended
	30-Sep-13
	Revenues from external customers	$ 51,382,581	$ 9,319,788	$ 106,034,945	$ -	$ 166,737,314
	Intersegment revenues	7,427,209	1,084,627	192,402	(8,704,238)	-
	Segment profit before income taxes	2,357,705	197,123	7,106,599	-	9,661,427

	Identifiable Assets	584,851,564	111,152,568	59,582,138	(134,176,683)	621,409,587
	Goodwill	391,848	285,191	-	-	677,039

8_Fair_Value_of_Financial_Inst

8): Fair Value of Financial Instruments	9 Months Ended
8): Fair Value of Financial Instruments	Sep. 30, 2014
Notes	'
8): Fair Value of Financial Instruments	'
	8) Fair Value of Financial Instruments

	Generally accepted accounting principles (GAAP) defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. GAAP also specifies a fair value hierarchy based upon the observability of inputs used in valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. Fair value measurements are classified under the following hierarchy:

	Level 1: Financial assets and financial liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that we can access.

	Level 2: Financial assets and financial liabilities whose values are based on the following:
	a) Quoted prices for similar assets or liabilities in active markets;
	b) Quoted prices for identical or similar assets or liabilities in non-active markets; or
	c) Valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability.

	Level 3: Financial assets and financial liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs may reflect our estimates of the assumptions that market participants would use in valuing the financial assets and financial liabilities.

	The Company utilizes a combination of third party valuation service providers, brokers, and internal valuation models to determine fair value.

	The following methods and assumptions were used by the Company in estimating the fair value disclosures related to other significant financial instruments:

	The items shown under Level 1 and Level 2 are valued as follows:

	Securities Available-for-sale and Held-to-Maturity: The fair values of investments in fixed maturity and equity securities along with methods used to estimate such values are disclosed in Note 3.

	Restricted Assets: A portion of these assets include mutual funds and equity securities that have quoted market prices. Also included are cash and cash equivalents and participations in mortgage loans. The carrying amounts reported in the accompanying consolidated balance sheet for these financial instruments approximate their fair values.

	Cemetery Perpetual Care Trust Investments: A portion of these assets include equity securities that have quoted market prices. Also included are cash and cash equivalents. The carrying amounts reported in the accompanying consolidated balance sheet for these financial instruments approximate their fair values.

	Call Options: The Company uses quoted market prices to value its call options.

	The items shown under Level 3 are valued as follows:

	Policyholder Account Balances and Future Policy Benefits-Annuities: Future policy benefit reserves for interest-sensitive insurance products are computed under a retrospective deposit method and represent policy account balances before applicable surrender charges. Policy benefits and claims that are charged to expense include benefit claims incurred in the period in excess of related policy account balances. Interest crediting rates for interest-sensitive insurance products ranged from 4% to 6.5%. The fair values for the Company’s liabilities under investment-type insurance contracts (disclosed as policyholder account balances and future policy benefits – annuities) are estimated based on the contracts’ cash surrender values.

	The fair values for the Company’s insurance contracts other than investment-type contracts are not required to be disclosed. However, the fair values of liabilities under all insurance contracts are taken into consideration in the Company’s overall management of interest rate risk, such that the Company’s exposure to changing interest rates is minimized through the matching of investment maturities with amounts due under insurance contracts.

	Interest Rate Lock Commitments: The Company’s mortgage banking activities enters into interest rate lock commitments with potential borrowers and forward commitments to sell loans to third-party investors. The Company also implements a hedging strategy for these transactions. A mortgage loan commitment binds the Company to lend funds to a qualified borrower at a specified interest rate and within a specified period of time, generally up to 30 days after inception of the mortgage loan commitment. Mortgage loan commitments are defined to be derivatives under generally accepted accounting principles and are recognized at fair value on the consolidated balance sheet with changes in their fair values recorded as part of other comprehensive income from mortgage banking operations.

	The Company estimates the fair value of a mortgage loan commitment based on the change in estimated fair value of the underlying mortgage loan and the probability that the mortgage loan will fund within the terms of the commitment. The change in fair value of the underlying mortgage loan is measured from the date the mortgage loan commitment is issued. Therefore, at the time of issuance, the estimated fair value is zero. Following issuance, the value of a mortgage loan commitment can be either positive or negative depending upon the change in value of the underlying mortgage loans. Fallout rates derived from the Company’s recent historical empirical data are used to estimate the quantity of mortgage loans that will fund within the terms of the commitments.

	Bank Loan Interest Rate Swaps: Management considers the interest rate swap instruments to be an effective cash flow hedge against the variable interest rate on bank borrowings since the interest rate swap mirrors the term of the note payable and expires on the maturity date of the bank loan it hedges. The interest rate swaps are a derivative financial instruments carried at its fair value. The fair value of the interest rate swap was derived from a proprietary model of the bank from whom the interest rate swap was purchased and to whom the note is payable.

	Mortgage Loans on Real Estate: The fair values are estimated using interest rates currently being offered for similar loans to borrowers with similar credit ratings. Loans with similar characteristics are aggregated for purposes of the calculations. The carrying amounts reported in the accompanying consolidated balance sheet for these financial instruments approximate their fair values.

	Real Estate Held for Investment: The Company believes that in an orderly market fair value will approximate the replacement cost of a home and the rental income provides a cash flow stream for investment analysis. The Company believes the highest and best use of the properties are as income producing assets since it is the Company’s intent to hold the properties as rental properties, matching the income from the investment in rental properties with the funds required for future estimated policy claims. Accordingly, the fair value determination will be weighted more heavily toward the rental analysis.

	It should be noted that for replacement cost, when determining the fair value of mortgage properties, the Company uses Marshall and Swift, a provider of building cost information to the real estate construction industry. For the investment analysis, the Company uses market data based upon its real estate operation experience and projected the present value of the net rental income over seven years. The Company uses 60% of the projected cash flow analysis and 40% of the replacement cost to approximate fair value of the collateral.

	In addition to this analysis performed by the Company, the Company depreciates Real Estate Held for Investment. This depreciation reduces the book value of these properties and lessens the exposure to the Company from further deterioration in real estate values.

	Mortgage Servicing Rights: The Company initially recognizes MSRs at their estimated fair values derived from the net cash flows associated with the servicing contracts, where the Company assumes the obligation to service the loan in the sale transaction. The precise fair value of MSRs cannot be readily determined because MSRs are not actively traded in stand-alone markets. Considerable judgment is required to estimate the fair values of these assets and the exercise of such judgment can significantly affect the Company’s earnings.

	The Company’s subsequent accounting for MSRs is based on the class of MSRs. The Company has identified two classes of MSRs: MSRs backed by mortgage loans with initial term of 30 years and MSRs backed by mortgage loans with initial term of 15 years. The Company distinguishes between these classes of MSRs due to their differing sensitivities to change in value as the result of changes in market. After being initially recorded at fair value, MSRs backed by mortgage loans are accounted for using the amortization method. MSR amortization is determined by amortizing the balance straight-line over an estimated nine year life.

	The Company periodically assesses MSRs for impairment. Impairment occurs when the current fair value of the MSR falls below the asset’s carrying value (carrying value is the amortized cost reduced by any related valuation allowance). If MSRs are impaired, the impairment is recognized in current-period earnings and the carrying value of the MSRs is adjusted through a valuation allowance.

	Management periodically reviews the various loan strata to determine whether the value of the MSRs in a given stratum is impaired and likely to recover. When management deems recovery of the value to be unlikely in the foreseeable future, a write-down of the cost of the MSRs for that stratum to its estimated recoverable value is charged to the valuation allowance.

	The following tables summarize Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a recurring basis by their classification in the condensed consolidated balance sheet at September 30, 2014.
			Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	Assets accounted for at fair value on a recurring basis
	Common stock		$ 6,725,976		$ 6,725,976		$ -		$ -
	Total securities available for sale		$ 6,725,976		$ 6,725,976		$ -		$ -

	Restricted assets of cemeteries and mortuaries		$ 701,543		$ 701,543		$ -		$ -
	Cemetery perpetual care trust investments		678,433		678,433		-		-
Derivatives - interest rate lock commitments		2,181,504		-		-		2,181,504
Total assets accounted for at fair value on a recurring basis		$ 10,287,456		$ 8,105,952		$ -		$ 2,181,504

Liabilities accounted for at fair value on a recurring basis
Policyholder account balances		$ (46,854,900)		$ -		$ -		$ (46,854,900)
Future policy benefits - annuities		(65,476,458)		-		-		(65,476,458)
Derivatives - bank loan interest rate swaps		(36,355)		-		-		(36,355)
- call options		(56,030)		(56,030)		-		-
- interest rate lock commitments		(168,460)		-		-		(168,460)
Total liabilities accounted for at fair value on a recurring basis		$ (112,592,203)		$ (56,030)		$ -		$ (112,536,173)

Following is a summary of changes in the consolidated balance sheet line items measured using level 3 inputs:

		Policyholder Account Balances		Future Policy Benefits - Annuities		Interest Rate Lock Commitments		Bank Loan Interest Rate Swaps

Balance - December 31, 2013		$ (48,000,668)		$ (65,052,928)		$ 1,487,908		$ (58,310)

Total gains (losses):

Included in earnings		1,145,768		(423,530)		-		-

Included in other comprehensive income (loss)		-		-		525,136		21,955

Balance - September 30, 2014		$ (46,854,900)		$ (65,476,458)		$ 2,013,044		$ (36,355)


The following tables summarize Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a nonrecurring basis by their classification in the consolidated balance sheet at September 30, 2014.

			Quoted Prices
			in Active		Significant		Significant
			Markets for		Observable		Unobservable
			Identical Assets		Inputs		Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets accounted for at fair value on a nonrecurring basis
Mortgage servicing rights	$ 2,582,672		-		-		$ 2,582,672
Real estate held for investment	9,499,648		-		-		9,499,648
Total assets accounted for at fair value on a nonrecurring basis	$ 12,082,320		$ -		$ -		$ 12,082,320


The following tables summarize Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a recurring basis by their classification in the condensed consolidated balance sheet at December 31, 2013.
		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets accounted for at fair value on a recurring basis
Common stock		$ 4,498,756		$ 4,498,756		$ -		$ -
Total securities available for sale		$ 4,498,756		$ 4,498,756		$ -		$ -

Restricted assets of cemeteries and mortuaries		$ 667,149		$ 667,149		$ -		$ -
Cemetery perpetual care trust investments		695,616		695,616		-		-
Derivatives - interest rate lock commitments		1,511,111		-		-		1,511,111
Total assets accounted for at fair value on a recurring basis		$ 7,372,632		$ 5,861,521		$ -		$ 1,511,111
Liabilities accounted for at fair value on a recurring basis
Policyholder account balances		$ (48,000,668)		$ -		$ -		$ (48,000,668)
Future policy benefits - annuities		(65,052,928)		-		-		(65,052,928)
Derivatives - bank loan interest rate swaps		(58,310)		-		-		(58,310)
- call options		(124,174)		(124,174)		-		-
- interest rate lock commitment		(23,203)		-		-		(23,203)
Total liabilities accounted for at fair value on a recurring basis		$ (113,259,283)		$ (124,174)		$ -		$ (113,135,109)

Following is a summary of changes in the condensed consolidated balance sheet line items measured using level 3 inputs:
		Policyholder Account Balances		Future Policy Benefits - Annuities		Interest Rate Lock Commitments		Bank Loan Interest Rate Swaps
Balance - December 31, 2012		$ (49,746,337)		$ (65,171,687)		$ 2,961,465		$ (93,572)
Total gains (losses):
Included in earnings		1,745,669		118,759		-		-
Included in other
comprehensive income		-		-		(1,473,557)		35,262
Balance - December 31, 2013		$ (48,000,668)		$ (65,052,928)		$ 1,487,908		$ (58,310)

The following tables summarize Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a nonrecurring basis by their classification in the consolidated balance sheet at December 31, 2013.

			Quoted Prices
			in Active		Significant		Significant
			Markets for		Observable		Unobservable
			Identical Assets		Inputs		Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets accounted for at fair value on a
nonrecurring basis
Mortgage servicing rights	$ 5,291,724		-		-		$ 5,291,724
Mortgage loans on real estate	89,000		-		-		89,000
Real estate held for investment	660,784		-		-		660,784
Total assets accounted for at fair value on a
nonrecurring basis	$ 6,041,508		$ -		$ -		$ 6,041,508

Fair Value of Financial Instruments Carried at Other Than Fair Value

ASC 825, Financial Instruments, requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate that value.

Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates presented herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction at September 30, 2014 and December 31, 2013. The estimated fair value amounts for September 30, 2014 and December 31, 2013 have been measured as of period-end, and have not been reevaluated or updated for purposes of these Consolidated Financial Statements subsequent to those dates. As such, the estimated fair values of these financial instruments subsequent to the reporting date may be different than the amounts reported at period-end.

The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows as of September 30, 2014:

	Carrying Value		Level 1		Level 2		Level 3		Total Estimated Fair Value
Assets
Mortgage loans:
Residential	$ 50,016,281		$ -		$ -		$ 53,242,830		$ 53,242,830
Residential construction	29,532,524		-		-		29,532,524		29,532,524
Commercial	43,216,761		-		-		45,167,199		45,167,199
Mortgage loans, net	$ 122,765,566		$ -		$ -		$ 127,942,553		$ 127,942,553
Policy loans	7,294,962		-		-		7,294,962		7,294,962
Other loans	25,921,120		-		-		25,921,120		25,921,120
Short-term investments	25,024,278		-		-		25,024,278		25,024,278

Liabilities
Bank and other loans payable	$ 22,104,020		$ -		$ -		$ 22,104,020		$ 22,104,020

The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows as of December 31, 2013:

	Carrying Value		Level 1		Level 2		Level 3		Total Estimated Fair Value
Assets
Mortgage loans:
Residential	$ 48,503,639		$ -		$ -		$ 51,537,154		$ 51,537,154
Residential construction	12,812,359		-		-		12,812,359		12,812,359
Commercial	41,465,880		-		-		42,441,268		42,441,268
Mortgage loans, net	$ 102,781,878		$ -		$ -		$ 106,790,781		$ 106,790,781
Policy loans	7,520,376		-		-		7,520,376		7,520,376
Other loans	12,203,630		-		-		12,203,630		12,203,630
Short-term investments	12,135,719		-		-		12,135,719		12,135,719

Liabilities
Bank and other loans payable	$ 18,231,128		$ -		$ -		$ 18,231,128		$ 18,231,128

The methods, assumptions and significant valuation techniques and inputs used to estimate the fair value of financial instruments are summarized as follows:

Mortgage Loans on Real Estate: The estimated fair value of the Company’s mortgage loans is determined using various methods. The Company’s mortgage loans are grouped into three categories: Residential, Residential Construction and Commercial. When estimating the expected future cash flows, it is assumed that all loans will be held to maturity, and any loans that are non-performing are evaluated individually for impairment.

Residential – The estimated fair value of mortgage loans originated prior to 2013 is determined by estimating expected future cash flows of interest payments and discounting them using current interest rates from single family mortgages. The estimated fair value of mortgage loans originated in 2013 and 2014 is determined from pricing of similar loans that were sold in December 2013 and September 2014.

Residential Construction – These loans are primarily short in maturity (4-6 months) accordingly, the estimated fair value is determined to be the net book value.

Commercial – The estimated fair value is determined by estimating expected future cash flows of interest payments and discounting them using current interest rates for commercial mortgages.

Policy and Other Loans: The carrying amounts reported in the accompanying condensed consolidated balance sheet for these financial instruments approximate their fair values.

Short-Term Investments: The carrying amounts reported in the accompanying condensed consolidated balance sheet for these financial instruments approximate their fair values.

Bank and Other Loans Payable: The carrying amounts reported in the accompanying condensed consolidated balance sheet for these financial instruments approximate their fair values.

9_Allowance_For_Doubtful_Accou

9) Allowance For Doubtful Accounts and Loan Losses and Impaired Loans	9 Months Ended
	Sep. 30, 2014
Notes	'
9) Allowance For Doubtful Accounts and Loan Losses and Impaired Loans	'
	9) Allowance for Doubtful Accounts, Allowance for Loan Losses and Impaired Loans

	The Company records an allowance and recognizes an expense for potential losses from mortgage loans, other loans and receivables in accordance with generally accepted accounting principles.

	The allowance for doubtful accounts is based upon the Company’s historical experience for collectively evaluated impairment. Other allowances are based upon receivables individually evaluated for impairment. Collectability of the cemetery and mortuary receivables is significantly influenced by current economic conditions. The critical issues that impact recovery of mortgage loan operations are interest rate risk, loan underwriting, new regulations and the overall economy.

	The Company also provides an allowance for losses on its mortgage loans held for investment. The allowance is comprised of two components. The first component is an allowance for collectively evaluated impairment that is based upon the Company’s historical experience in collecting its unpaid principal balances. The second component is based upon individual evaluation of loans that are determined to be impaired. Upon determining impairment the Company establishes an individual impairment allowance based upon an assessment of the fair value of the underlying collateral. See the schedules in Note 3 for additional information. All expenses for foreclosure are expensed as incurred. Once foreclosed, an adjustment for the lower of cost or fair value is made, if necessary, and the amount is classified as other real estate owned held for investment or sale. The Company rents these properties until it is deemed desirable to sell them.

	The allowance for loan losses could change based on changes in the value of the underlying collateral, the performance status of the loans, or the Company’s actual collection experience. The actual losses could change, in the near term, from the established allowance, based upon the occurrence or non-occurrence of these events.

10_Derivative_Commitments

10) Derivative Commitments	9 Months Ended
10) Derivative Commitments	Sep. 30, 2014
Notes	'
10) Derivative Commitments	'

	10) Derivative Commitments

	The Company is exposed to price risk due to the potential impact of changes in interest rates on the values of mortgage loan commitments from the time a derivative loan commitment is made to an applicant to the time the loan that would result from the exercise of that loan commitment is funded. Managing price risk is complicated by the fact that the ultimate percentage of derivative loan commitments that will be exercised (i.e., the number of loan commitments that will be funded) fluctuates. The probability that a loan will not be funded within the terms of the commitment is driven by a number of factors, particularly the change, if any, in mortgage rates following the inception of the interest rate lock. However, many borrowers continue to exercise derivative loan commitments even when interest rates have fallen.

	In general, the probability of funding increases if mortgage rates rise and decreases if mortgage rates fall. This is due primarily to the relative attractiveness of current mortgage rates compared to the applicant’s committed rate. The probability that a loan will not be funded within the terms of the mortgage loan commitment also is influenced by the source of the applications (retail, broker or correspondent channels), proximity to rate lock expiration, purpose for the loan (purchase or refinance) product type and the application approval status. The Company has developed fallout estimates using historical data that take into account all of the variables, as well as renegotiations of rate and point commitments that tend to occur when mortgage rates fall. These fallout estimates are used to estimate the number of loans that the Company expects to be funded within the terms of the mortgage loan commitments and are updated periodically to reflect the most current data.

	The Company estimates the fair value of a mortgage loan commitment based on the change in estimated fair value of the underlying mortgage loan and the probability that the mortgage loan will fund within the terms of the commitment. The change in fair value of the underlying mortgage loan is measured from the date the mortgage loan commitment is issued. Following issuance, the value of a mortgage loan commitment can be either an asset or liability depending upon the change in value of the underlying mortgage loans. Fallout rates derived from the Company’s recent historical empirical data are used to estimate the quantity of mortgage loans that will fund within the terms of the commitments.

	The Company utilizes forward loan sales commitments to economically hedge the price risk associated with its outstanding mortgage loan commitments. A forward loan sales commitment protects the Company from losses on sales of the loans arising from exercise of the loan commitments by securing the ultimate sales price and delivery date of the loans. Management expects these derivatives will experience changes in fair value opposite to changes in fair value of the derivative loan commitments, thereby reducing earnings volatility related to the recognition in earnings of changes in the values of the commitments.

	The Company has adopted a strategy of selling “out of the money” call options on its available for sale equity securities as a source of revenue. The options give the purchaser the right to buy from the Company specified equity securities at a set price up to a pre-determined date in the future. The Company receives an immediate payment of cash for the value of the option and establishes a liability for the fair value of the option. The liability for call options is adjusted to fair value at each reporting date. The fair value of outstanding call options as of September 30, 2014 and December 31, 2013 was $56,030 and $124,174, respectively. In the event an option is exercised, the Company recognizes a gain on the sale of the equity security and a gain from the sale of the option. If the option expires unexercised, the Company recognizes a gain from the sale of the option and retains the underlying equity security.

	The following table shows the fair value of derivatives as of September 30, 2014 and December 31, 2013.

		Fair Value of Derivative Instruments
		Asset Derivatives								Liability Derivatives
		30-Sep-14				31-Dec-13				30-Sep-14		31-Dec-13
		Balance Sheet Location		Fair Value		Balance Sheet Location		Fair Value		Balance Sheet Location	Fair Value	Balance Sheet Location	Fair Value
	Derivatives designated as hedging instruments:
	Interest rate lock and forward sales commitments	other assets		$2,181,504		other assets		$1,511,111		Other liabilities	$ 168,460	Other liabilities	$ 23,203
	Call Options	--		--		--		--		Other liabilities	56,030	Other liabilities	124,174
	Interest rate swaps	--		--		--		--		Bank loans payable	36,355	Bank loans payable	58,310
	Total			$2,181,504				$1,511,111			$ 260,845		$ 205,687


	The following table shows the gain (loss) on derivatives for the periods presented. There were no gains or losses reclassified from accumulated other comprehensive income (OCI) into income or gains or losses recognized in income on derivatives ineffective portion or any amounts excluded from effective testing.
			Net Amount Gain (Loss) Recognized in OCI				Net Amount Gain (Loss) Recognized in OCI
			Three Months Ended September 30				Nine Months Ended September 30
	Derivative - Cash Flow Hedging Relationships:		2014		2013		2014		2013
	Interest Rate Lock Commitments		$ (713,276)		$ (1,616,310)		$ 525,136		$ (1,097,099)
	Interest Rate Swaps		9,655		5,890		21,955		27,691
	Sub Total		(703,621)		(1,610,420)		547,091		(1,069,408)
	Tax Effect		(274,412)		(628,356)		213,366		(270,380)
	Total		$ (429,209)		$ (982,064)		$ 333,725		$ (799,028)

11_Reinsurance_Commitments_and

11) Reinsurance, Commitments and Contingencies	9 Months Ended
11) Reinsurance, Commitments and Contingencies	Sep. 30, 2014
Notes	'
11) Reinsurance, Commitments and Contingencies	'
	11) Reinsurance, Commitments and Contingencies

	Reinsurance Terminated with North America Life Insurance Company

	On December 1, 2013, in accordance with the terms of the Coinsurance Agreement, Security National Life, through TransWestern Life Insurance Company (“Trans-Western Life”), recaptured additional policies of Trans-Western Life from North America Life Insurance Company (“North America Life”). On December 10, 2013, pursuant to the Coinsurance Agreement, North America Life paid $2,500,000, less a ceding commission of $34,000 to Security National Life. On February 13, 2014, in accordance with the terms of the Coinsurance Agreement, Security National Life, through Trans Western Life, recaptured the remaining policies of Trans-Western Life from North America Life. Pursuant to the Coinsurance Agreement, North America Life paid $4,684,000 less a ceding commission of $57,000 to Security National Life, and the Reinsurance Agreement between Trans Western Life and North America Life was terminated.

	Mortgage Loan Loss Settlements

	Future loan losses are extremely difficult to estimate, especially in the current market. However, management believes that the Company’s reserve methodology allow it to estimate its losses on loans sold. The amounts accrued for loan losses for the three months ended September 30, 2014 and 2013 were $1,063,000 and $434,000, respectively, and for the nine months ended September 30, 2014 and 2013, were $2,007,000 and $1,615,000 respectively.

	The estimated liability for indemnification losses is included in other liabilities and accrued expenses and, as of September 30, 2014 and December 31, 2013, the balances were $6,813,000 and $5,507,000, respectively.

	Settlement with Wells Fargo

	On April 7, 2011, SecurityNational Mortgage entered into a settlement agreement with Wells Fargo Funding, Inc. (“Wells Fargo Funding”). The settlement agreement provides that it is intended to be a pragmatic commercial accommodation between SecurityNational Mortgage and Wells Fargo Funding and is not to be construed as an admission of responsibility, liability or fault for either party’s claims. Under the terms of the settlement agreement, SecurityNational Mortgage paid an initial settlement amount to Wells Fargo Funding in the amount of $4,300,000.

	SecurityNational Mortgage is also required under the settlement agreement to set aside 10 basis points (.0010) during the period from April 8, 2011 to March 31, 2017 from the purchase proceeds of any loans that it sells to any mortgage loan purchaser, including Wells Fargo Funding, and pay such amounts to Wells Fargo Funding. SecurityNational Mortgage is additionally required under the settlement agreement to set aside 50% from the net proceeds that it receives from any sale, liquidation or other transfer of certain real estate properties that it owns, after subtracting taxes, commissions, recording fees and other transaction costs. These real estate properties consist of 26 real estate properties with a total book value as of September 30, 2014 of $4,202,000.

	In consideration for SecurityNational Mortgage making the initial settlement payment to Wells Fargo Funding, Wells Fargo Funding and related parties, including Wells Fargo Bank, released SecurityNational Mortgage and related parties, including the Company and Security National Life, from any claims, demands, damages, obligations, liabilities, or causes of action relating to residential mortgage loans that Wells Fargo Funding purchased from SecurityNational Mortgage prior to December 31, 2009. Similarly, SecurityNational Mortgage released Wells Fargo Funding and its related parties from any claims, demands, damages, obligations, liabilities, or causes of actions relating to residential mortgage loans that Wells Fargo Funding purchased from SecurityNational Mortgage prior to December 31, 2009.

	Mortgage Loan Loss Demands

	Third Party Investors

	There have been assertions in third party investor correspondence that SecurityNational Mortgage sold mortgage loans that allegedly contained borrower misrepresentations or experienced early payment defaults, or that were otherwise allegedly defective or not in compliance with agreements between SecurityNational Mortgage and the third party investors consisting principally of financial institutions. As a result of these claims, third party investors have made demands that SecurityNational Mortgage repurchase certain alleged defective mortgage loans that were sold to such investors or indemnify them against any losses related to such loans.

	The total amount of potential claims by third party investors is difficult to determine. The Company has reserved and accrued $6,802,000 as of September 30, 2014 to settle all such investor related claims. The Company believes that the reserve for mortgage loan loss, which includes provisions for probable losses and indemnification on mortgage loans sold to investors, is reasonable based on available information. Moreover, the Company has successfully negotiated acceptable settlement terms with other third party investors that asserted claims for mortgage loan losses against SecurityNational Mortgage.

	SecurityNational Mortgage disagrees with the repurchase demands and notices of potential claims from third party investors. Furthermore, SecurityNational Mortgage believes there is potential to resolve the alleged claims by third party investors on acceptable terms. If SecurityNational Mortgage is unable to resolve such claims on acceptable terms, legal action may ensue. In the event of legal action by any third party investor, SecurityNational Mortgage believes it has significant defenses to any such action and intends to vigorously defend itself against such action.

	JP Morgan Chase Indemnification Demand

	The Company and its wholly owned subsidiary, SecurityNational Mortgage, received a notice of claim for indemnification dated December 21, 2011, from JP Morgan Chase & Co. (“JP Morgan Chase”) on behalf of EMC Mortgage, LLC (“EMC Mortgage”), relating to 21 mortgage loans that EMC Mortgage allegedly purchased as a third party investor from SecurityNational Mortgage. The notice also referenced a guaranty agreement, dated February 23, 2006, by the Company for the benefit of EMC Mortgage. The indemnification notice additionally stated that EMC Mortgage had been named in a lawsuit by the Bear Stearns Mortgage Funding Trust 2007-AR2 (the “Trust”), which was filed on September 13, 2011 in the Delaware Court of Chancery.

	The lawsuit the Trust brought against EMC Mortgage contends that more than 800 residential mortgage loans that EMC Mortgage sold to the Trust (including the 21 loans allegedly originated by SecurityNational Mortgage) contained breaches of representations and warranties with respect to the mortgage loans, as well as defaults and foreclosures in many of such loans. As a result of the alleged breaches of representations and warranties by EMC Mortgage, the complaint requests that EMC Mortgage be ordered to repurchase from the Trust any loans for which it breached its representations and warranties, in the amount of the mortgage loans’ outstanding principal balance and all accrued but unpaid interest.

	The indemnification notice from JP Morgan Chase further alleged that the Company and SecurityNational Mortgage are required to indemnify EMC Mortgage for any of its losses arising from the lawsuit that the Trust brought against EMC based upon allegedly untrue statements of material fact related to information that was provided by SecurityNational Mortgage. To the extent the claims in the complaint relate to the 21 mortgage loans that SecurityNational Mortgage allegedly sold to EMC Mortgage, the Company believes it has significant defenses to such claims. The Company intends to vigorously defend itself and SecurityNational Mortgage in the event that JP Morgan Chase were to bring any legal action to require the Company or SecurityNational Mortgage to indemnify it for any loss, liability or expense in connection with the lawsuit that the Trust has brought against EMC Mortgage.

	Mortgage Loan Loss Litigation

	Lehman Brothers - Aurora Loan Services Litigation

	On April 15, 2005, SecurityNational Mortgage entered into a loan purchase agreement with Lehman Brothers Bank, FSB (“Lehman Bank”). Under the terms of the loan purchase agreement, Lehman Bank agreed to purchase mortgage loans from time to time from SecurityNational Mortgage. During 2007, Lehman Bank and its wholly owned subsidiary, Aurora Loan Services LLC (“Aurora Loan Services”), purchased a total of 1,490 mortgage loans in the aggregate amount of $352,774,000 from SecurityNational Mortgage. Lehman Bank asserted that certain of the mortgage loans that it purchased from SecurityNational Mortgage during 2007 contained alleged misrepresentations and early payment defaults. As a result of these alleged issues with the mortgage loans, Lehman Bank contended it had the right to require SecurityNational Mortgage to repurchase certain loans or be liable for losses related to such loans under the loan purchase agreement. SecurityNational Mortgage disagrees with these claims.

	On December 17, 2007, SecurityNational Mortgage entered into an Indemnification Agreement with Lehman Bank and Aurora Loan Services. Under the terms of the Indemnification Agreement, SecurityNational Mortgage agreed to indemnify Lehman Bank and Aurora Loan Services for 75% of all losses that Lehman Bank and Aurora Loan Services may incur relative to breaches by mortgagors pertaining to 55 mortgage loans that were purchased from SecurityNational Mortgage. SecurityNational Mortgage was released from any obligation to pay the remaining 25% of such losses. The Indemnification Agreement also required SecurityNational Mortgage to indemnify Lehman Bank and Aurora Loan Services for 100% of any future losses incurred on mortgage loans with breaches that were not among the 55 mortgage loans.

	Pursuant to the Indemnification Agreement, SecurityNational Mortgage paid $395,000 to Aurora Loan Services as a deposit into a reserve account, to secure any obligations of SecurityNational Mortgage under the Indemnification Agreement. This deposit was in addition to a $250,000 deposit that SecurityNational Mortgage previously made into the reserve account for a total of $645,000. Losses from mortgage loans with alleged breaches were payable from the reserve account. Lehman Bank and Aurora Loan Services were not to apply any funds from the reserve account to a particular mortgage loan, however, until an actual loss had occurred. Under the Indemnification Agreement SecurityNational Mortgage was to pay to Aurora Loan Services each calendar month the difference between the reserve account balance and $645,000, but in no event would SecurityNational Mortgage be required to make payments into the reserve account in excess of $125,000 for any calendar month.

	Since the time the reserve account was established, SecurityNational Mortgage paid a total of $4,281,000 from the reserve account to indemnify Lehman Brothers Bank and Aurora Loan Services for alleged losses from 31 mortgage loans that were among 55 mortgage loans with alleged breaches that were covered by the Indemnification Agreement and ten other mortgage loans with alleged breaches. In the last monthly billing statement dated April 24, 2011 to SecurityNational Mortgage, Lehman Brothers Holdings Inc. (“Lehman Holdings”) claimed that SecurityNational Mortgage owed approximately $3,745,000 for mortgage loan losses under the Indemnification Agreement.

	During 2010 and 2011, the Company recognized alleged losses of $1,289,000 and $-0-, respectively. Management cannot fully determine the total losses, however, because there could be potential claims for losses that have not yet been determined. As of September 30, 2014, the Company had not accrued for any losses under the Indemnification Agreement. SecurityNational Mortgage was involved in discussions with Lehman Bank and Lehman Holdings concerning issues under the Indemnification Agreement. During the discussion period, monthly payments for December 2010 and January, February, March and April of 2011 totaling $625,000 were abated or deferred.

	On May 11, 2011, SecurityNational Mortgage filed a complaint against Aurora Bank FSB, formerly known as Lehman Bank, and hereinafter referred to as Lehman Bank, and Aurora Loan Services in the United States District Court for the District of Utah because it had been unable to resolve certain issues under the Indemnification Agreement. The complaint alleges, among other claims, material breach of the Indemnification Agreement, including a claim that neither Lehman Bank nor Aurora Loan Services owned mortgage loans sold by SecurityNational to justify the amount of payments demanded from, and made by SecurityNational Mortgage. As a result, SecurityNational Mortgage claims it is entitled to judgment of approximately $4,000,000 against Lehman Bank, as well as Aurora Loan Services to the extent of its involvement and complicity with Lehman Bank. The complaint also alleges a second claim for material breach of a section of the Indemnification Agreement that contains an alleged “sunset” provision and that the amount of the requested payments made was not justified under the “sunset” provision.

	On June 8, 2011, Lehman Holdings, which had filed for bankruptcy in September 2008, filed a complaint against SecurityNational Mortgage in the United States District Court for the District of Utah. A subsidiary of Lehman Holdings owns Lehman Bank. The complaint alleges that SecurityNational Mortgage sold loans to Lehman Bank, which were then sold to Lehman Holdings. The complaint additionally alleges that Lehman Bank and Aurora Loan Services assigned their rights and remedies under the loan purchase agreement, as well as the Indemnification Agreement to Lehman Holdings, which latter assignment purportedly took place on March 28, 2011. Lehman Holdings declared in a letter dated June 2, 2011 that the Indemnification Agreement was null and void except for losses previously released and discharged, which is disputed by SecurityNational Mortgage.

	Lehman Holdings’ alleged claims are for damages for breach of contract and breach of warranty pursuant to a loan purchase agreement and Seller’s Guide. Based on claiming that the Indemnification Agreement is null and void pursuant to its lawsuit, Lehman Holdings has initially claimed damages in excess of $5,000,000. Prior to declaring the Indemnification Agreement null and void, Lehman Holdings claimed in a then recent billing statement under the terms of the Indemnification Agreement, that SecurityNational Mortgage owed approximately $3,745,000 for mortgage loan losses under the Indemnification Agreement. SecurityNational Mortgage strongly disagrees with the position of Lehman Holdings and, as set forth in its May 11, 2011 complaint, seeks affirmative relief of approximately $4,000,000 from Lehman Bank and Aurora Loan Services, which are related to Lehman Holdings.

	On September 4, 2012, SecurityNational Mortgage filed a motion for summary judgment in its action against Lehman Bank and Aurora Loan Services on certain material issues, as well as against Lehman Holdings regarding its claims against SecurityNational Mortgage. Lehman Bank and Aurora Loan Services filed a cross motion for summary judgment as to the issues in SecurityNational Mortgage’s motion and, in the Lehman Holdings case, Lehman Holdings has requested that the Court allow a cross motion on the issues which are the subject of SecurityNational Mortgage’s September 4, 2012 motion. The cases are before two different federal judges.

	On February 27, 2013, SecurityNational Mortgage’s motion for summary judgment against Lehman Bank and Aurora Loan Services and the related cross motion were heard by Judge David Nuffer of the United States District Court for the District of Utah. After an extensive hearing, Judge Nuffer requested that the parties prepare findings of fact in accordance with the Court’s earlier promulgated findings as modified at the hearing, and that each party submit proposed conclusions of law related to the motions. The motion and cross motion were taken under advisement. SecurityNational Mortgage’s motion in the Lehman Holdings case was heard on April 22, 2014 before Judge Ted Stewart of the United States District Court for the District of Utah, and is under advisement.

	On May 6, 2014, Judge Nuffer issued his summary of facts, conclusions of law and order granting SecurityNational Mortgage’s motion for summary judgment and denying the cross motion of Lehman Bank and Aurora Loan Services. On May 27, 2014, Lehman Bank and Aurora Loan Services filed a motion to reconsider Judge Nuffer’s summary judgment ruling. On June 2, 2014, a hearing was held before Judge Nuffer to determine the amount owing to SecurityNational Mortgage pursuant to the summary judgment ruling. The motion to reconsider the summary judgment ruling and the issue of what is owing to SecurityNational Mortgage pursuant to the summary judgment ruling are both under advisement by the Court, the Court having indicated that it will issue a ruling on both matters at the same time.

On May 7, 2014, Judge Stewart issued an order for the parties to submit supplemental briefs as to the effect of Judge Nuffer’s summary judgment order on SecurityNational Mortgage’s motion for summary judgment in the Lehman Holdings case. The supplemental briefing is due within ten days after Judge Nuffer issues his ruling on the motion to reconsider the summary judgment ruling. Judge Stewart also granted leave for SecurityNational Mortgage to file an additional motion for summary judgment in the Lehman Holdings case on the basis that the claims of Lehman Holdings are barred by the statute of limitations. This motion is also to be filed within ten days after Judge Nuffer rules on the motion to reconsider the summary judgment ruling. The August 11, 2014 trial setting in the Lehman Holdings case was stricken without providing a new trial date.

Other Contingencies and Commitments

The Company has entered into commitments to fund new residential construction loans. As of September 30, 2014, the Company’s commitments were $46,887,000 for these loans of which $29,633,000 had been funded. The Company will advance funds once the work has been completed and an independent inspection is made. The maximum loan commitment ranges between 50% and 80% of appraised value. The Company receives fees from the borrowers and the interest rate is generally 2% to 6.75% over the bank prime rate (3.25% as of September 30, 2014). Maturities range between six and twelve months.

The Company is not a party to any other material legal proceedings outside the ordinary course of business or to any other legal proceedings, which, if adversely determined, would have a material adverse effect on its financial condition or results of operations.

12_Mortgage_Servicing_Rights

12) Mortgage Servicing Rights	9 Months Ended
12) Mortgage Servicing Rights	Sep. 30, 2014
Notes	'
12) Mortgage Servicing Rights	'

	12) Mortgage Servicing Rights

	The following is a summary of the MSR activity for the periods presented.

		As of September 30 2014	As of December 31 2013
	Amortized cost:
	Balance before valuation allowance at beginning of year	$ 4,844,101	$ 2,797,470
	MSRs proceeds from loan sales	2,582,672	2,494,254
	Amortization	(521,704)	(447,623)
	Application of valuation allowance to write down MSRs with other than temporary impairment	-	-
	Balance before valuation allowance at year end	$ 6,905,069	$ 4,844,101

	Valuation allowance for impairment of MSRs:
	Balance at beginning of year	$ -	$ -
	Additions	-	-
	Application of valuation allowance to write down MSRs with other than temporary impairment	-	-
	Balance at end of period	$ -	$ -

	Mortgage servicing rights, net	$ 6,905,069	$ 4,844,101

	Estimated fair value of MSRs at end of period	$ 7,278,193	$ 5,491,270

	The Company reports these MSRs pursuant to the accounting policy discussed in Note 8.

13_Mergers_Acquisitions_and_Di

13) Mergers, Acquisitions and Dispositions Disclosures	9 Months Ended
13) Mergers, Acquisitions and Dispositions Disclosures	Sep. 30, 2014
Notes	'
13) Mergers, Acquisitions and Dispositions Disclosures	'
	13) Acquisitions

	Acquisition of American Funeral Financial

	On June 4, 2014, the Company, through its wholly owned subsidiary, SNFC Subsidiary, LLC (“SNFC Subsidiary”), completed a purchase transaction with American Funeral Financial, LLC, a South Carolina limited liability company (“American Funeral Financial”) and Hypershop, LLC, a North Carolina limited liability company (“Hypershop”), the sole owner of all the limited liability company interests of American Funeral Financial, to purchase all of the outstanding limited liability company interests, or membership units, of American Funeral Financial. American Funeral Financial is engaged in the operation of a factoring business with the principal purpose of providing funding for funeral homes and mortuaries.

	Under the terms of the transaction, as set forth in the Unit Purchase Agreement dated June 4, 2014 (the “Purchase Agreement”), among the Company, SNFC Subsidiary, American Funeral Financial and Hypershop, the Company paid Hypershop purchase consideration equal to (i) $3,000,000 in cash, of which $175,000 was deposited into an interest bearing escrow account to be held for a period of twelve months from the closing date to pay off the indebtedness and other liabilities of American Funeral Financial, plus (ii) $12,011,183, representing the amount of the good standing receivables of American Funeral Financial, plus (iii) earn-out payments equal to .0042 of the aggregate amount of life insurance assignments funded by American Funeral Financial during the three year period following the closing date of the transaction. This earn-out liability was estimated to be $1,368,000. The purchase consideration was to be used to pay off the indebtedness that American Funeral Financial owed to Security Finance Corporation of Spartanburg, as well as to pay off all other indebtedness and liabilities of American Funeral Financial.

	The good standing receivables of American Funeral Financial are defined as its assignment receivables outstanding for less than 120 days from the closing date. Within 15 business days after the expiration of the 120-day period following the closing date, Security National agrees to provide Hypershop with reasonable supporting detail of the amount of any assignment receivables included in the good standing receivables that were not collected in full by Security National during such 120-day period, and which of the uncollected good standing receivables that Security National elects to receive payment from Hypershop. Thus, under the Purchase Agreement, Security National is entitled to payment from Hypershop for any uncollected good standing receivables in which Security National elects to receive payment.

	The uncollected good standing receivables payment is to be paid to Security National within 15 days from Hypershop’s receipt of the uncollected receivable notice from Security National through reduction of funds in the escrow account until the escrow amount has been reduced to zero or fully disbursed, and if the escrow amount is insufficient, then payment is to be made by offsetting or crediting the amounts owed to Security National from the earn-out payments owed to Hypershop until Security National has received full payment of the amount equal to the uncollected receivables payment. Security National, SNFC Subsidiary, Hypershop and American Funeral agree that if the escrow amount and the offsets against earn-out payments are insufficient to pay the amount of the uncollected good standing receivables and the outstanding indebtedness and other liabilities of American Funeral Financial as of the closing date, then Security National has no further recourse against Hypershop, and Hypershop has no further obligation or liability to Security National.

	During the period between the closing date and 270 days after the closing date, Security National is required to use commercially reasonable efforts to collect all outstanding receivables, including assignment receivables outstanding for over 120 days from the closing date. In the event that Security National collects any assignment receivables that are outstanding for more than 120 days, Security National agrees to pay Hypershop the amount of such receivables within 15 business days after the receipt of such receivables. If Security National is unable to collect all the outstanding receivables that are more than 120 days from the closing date, Security National agrees to transfer to Hypershop all right, title and interest to such receivables.

	With regard to earn-out payments, Security National agrees to provide earn-out payments to Hypershop on a monthly basis over a three year period in the amount equal to the life insurance assignments that American Funeral Financial has funded during the applicable monthly calculation period multiplied by the earn-out multiple of .0042. In the event any customer of American Funeral Financial has also been a customer of C & J Financial, LLC (“C & J Financial”), a wholly owned subsidiary of Security National, during the twelve month period prior to the closing date, the earn-out multiple would be proportionately reduced by the funding amount provided by American Funeral Financial for such customer during the twelve month period prior to the closing date as compared to the funding amount provided by C & J Financial for such customer during the same twelve month period.

	The estimated fair values of the assets acquired and the liabilities assumed at the date of acquisition were as follows:

	Other loans, net	$ 11,866,193
	Property and equipment	760,120
	Goodwill	2,373,722
	Other	1,379,158
	Total assets acquired	16,379,193
	Other liabilities and accrued expenses	(1,368,000)
	Total liabilities assumed	(1,368,000)
	Fair value of net assets acquired	$ 15,011,193

	The following unaudited pro forma information has been prepared to present the results of operations of the Company assuming the acquisition of American Funeral Financial had occurred at the beginning of the three and nine month periods ended September 30, 2014 and 2013. This pro forma information is supplemental and does not necessarily present the operations of the Company that would have occurred had the acquisition occurred on those dates and may not reflect the operations that will occur in the future:

			For the Three Months Ended September 30 (unaudited)		For the Nine Months Ended September 30 (unaudited)
			2014	2013	2014	2013
	Total revenues		$ 61,725,792	$ 51,865,289	$ 168,522,777	$ 170,048,145
	Net earnings		$ 2,137,822	$ 1,422,873	$ 5,142,490	$ 6,427,785
	Net earnings per Class A equivalent common share		$ 0.18	$ 0.12	$ 0.43	$ 0.55
	Net earnings per Class A equivalent common share assuming dilution		$ 0.17	$ 0.11	$ 0.42	$ 0.52

1_Basis_of_Presentation_Accoun

1) Basis of Presentation: Accounting Policy (Policies)	9 Months Ended
1) Basis of Presentation: Accounting Policy (Policies)	Sep. 30, 2014
Policies	'
Accounting Policy	'
Accounting Policy	The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10 Q and Articles 8 and 10 of Regulation S X. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. These financial statements should be read in conjunction with the consolidated financial statements of the Company and notes thereto for the year ended December 31, 2013, included in the Company’s Annual Report on Form 10-K (file number 000-09341). In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.

1_Basis_of_Presentation_Use_of

1) Basis of Presentation: Use of Estimates Policy (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Use of Estimates Policy	'

	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

	The estimates susceptible to significant change are those used in determining the liability for future policy benefits and claims, those used in determining valuation allowances for mortgage loans on real estate and construction loans held for investment, those used in determining loan loss reserve, and those used in determining the estimated future costs for pre-need sales. Although some variability is inherent in these estimates, management believes the amounts provided are fairly stated in all material respects.

3_Investments_Heldtomaturity_S

3) Investments: Held-to-maturity Securities (Tables)	9 Months Ended
3) Investments: Held-to-maturity Securities (Tables)	Sep. 30, 2014
Held-to-maturity Securities	'

		Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
	September 30, 2014:
	Fixed maturity securities held to maturity carried at amortized cost:
	Bonds:
	U.S. Treasury securities and obligations of U.S. Government agencies	$ 1,875,494	$ 319,767	$ -	$ 2,195,261
	Obligations of states and political subdivisions	1,735,660	230,895	(5,449)	1,961,106
	Corporate securities including public utilities	127,600,931	15,174,250	(257,852)	142,517,329
	Mortgage-backed securities	3,716,520	278,741	(11,060)	3,984,201
	Redeemable preferred stock	612,023	20,107	-	632,130
	Total fixed maturity securities held to maturity	$ 135,540,628	$ 16,023,760	$ (274,361)	$ 151,290,027
AsOfDecember312012Member	'
Held-to-maturity Securities	'

		Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
	December 31, 2013:
	Fixed maturity securities held to maturity carried at amortized cost:
	Bonds:
	U.S. Treasury securities and obligations of U.S. Government agencies	$ 2,284,261	$ 298,901	$ -	$ 2,583,162
	Obligations of states and political subdivisions	1,790,661	197,340	(9,404)	1,978,597
	Corporate securities including public utilities	134,257,468	10,513,448	(1,394,919)	143,375,997
	Mortgage-backed securities	4,522,081	206,617	(11,351)	4,717,347
	Redeemable preferred stock	612,023	12,994	(5,900)	619,117
	Total fixed maturity securities held to maturity	$ 143,466,494	$ 11,229,300	$ (1,421,574)	$ 153,274,220

3_Investments_Availableforsale

3) Investments: Available-for-sale Securities (Tables)	9 Months Ended
3) Investments: Available-for-sale Securities (Tables)	Sep. 30, 2014
Available-for-sale Securities	'

		Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
	September 30, 2014:

	Equity securities available for sale at estimated fair value:

	Common stock:

	Industrial, miscellaneous and all other	$ 7,139,879	$ 237,186	$ (651,089)	$ 6,725,976

	Total securities available for sale carried at estimated fair value	$ 7,139,879	$ 237,186	$ (651,089)	$ 6,725,976

	Mortgage loans on real estate and construction loans held for investment at amortized cost:
	Residential	$ 51,600,930
	Residential construction	29,632,638
	Commercial	43,403,890
	Less: Allowance for loan losses	(1,871,892)

	Total mortgage loans on real estate and construction loans held for investment	$ 122,765,566

	Real estate held for investment - net of depreciation	$ 105,643,820

	Policy and other loans at amortized cost:
	Policy loans	$ 7,294,962
	Other loans	26,504,618
	Less: Allowance for doubtful accounts	(583,498)

	Total policy and other loans at amortized cost	$ 33,216,082

	Short-term investments at amortized cost	$ 25,024,278
AsOfDecember312012Member	'
Available-for-sale Securities	'

		Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
	December 31, 2013:

	Equity securities available for sale at estimated fair value:

	Common stock:

	Industrial, miscellaneous and all other	$ 4,783,936	$ 240,206	$ (525,386)	$ 4,498,756

	Total securities available for sale carried at estimated fair value	$ 4,783,936	$ 240,206	$ (525,386)	$ 4,498,756

	Mortgage loans on real estate and construction loans held for investment at amortized cost:
	Residential	$ 49,868,486
	Residential construction	12,912,473
	Commercial	41,653,009
	Less: Allowance for loan losses	(1,652,090)

	Total mortgage loans on real estate and construction loans held for investment	$ 102,781,878

	Real estate held for investment - net of depreciation	$ 99,760,475

	Policy and other loans at amortized cost:
	Policy loans	$ 7,520,376
	Other loans	12,472,805
	Less: Allowance for doubtful accounts	(269,175)

	Total policy and other loans at amortized cost	$ 19,724,006

	Short-term investments at amortized cost	$ 12,135,719

3_Investments_Schedule_of_Unre

3) Investments: Schedule of Unrealized Loss on Investments (Tables)	9 Months Ended
	Sep. 30, 2014
Fixed Maturities	'
Schedule of Unrealized Loss on Investments	'

		Unrealized Losses for Less than Twelve Months	No. of Investment Positions	Unrealized Losses for More than Twelve Months	No. of Investment Positions	Total Unrealized Loss
	At September 30, 2014
	Obligations of states and political subdivisions	$ -	0	$ 5,449	1	$ 5,449
	Corporate securities including public utilities	35,539	11	222,312	14	257,851
	Mortgage-backed securities	3,023	1	8,038	1	11,061
	Redeemable preferred stock	-	0	-	0	-
	Total unrealized losses	$ 38,562	12	$ 235,799	16	$ 274,361
	Fair Value	$ 1,972,915		$ 3,685,263		$ 5,658,178

	At December 31, 2013
	Obligations of states and political subdivisions	$ 7,131	1	$ 2,273	1	$ 9,404
	Corporate securities including public utilities	1,134,415	72	260,504	10	1,394,919
	Mortgage-backed securities	3,109	1	8,242	1	11,351
	Redeemable preferred stock	5,900	1	-	0	5,900
	Total unrealized losses	$ 1,150,555	75	$ 271,019	12	$ 1,421,574
	Fair Value	$ 22,002,277		$ 2,308,464		$ 24,310,741
Equity Securities	'
Schedule of Unrealized Loss on Investments	'

		Unrealized Losses for Less than Twelve Months	No. of Investment Positions	Unrealized Losses for More than Twelve Months	No. of Investment Positions	Total Unrealized Losses
	At September 30, 2014
	Industrial, miscellaneous and all other	$ 180,607	157	$ 470,482	26	$ 651,089
	Total unrealized losses	$ 180,607	157	$ 470,482	26	$ 651,089
	Fair Value	$ 2,012,391		$ 706,005		$ 2,718,396

	At December 31, 2013
	Industrial, miscellaneous and all other	$ 119,450	28	$ 405,936	28	$ 525,386
	Total unrealized losses	$ 119,450	28	$ 405,936	28	$ 525,386
	Fair Value	$ 993,612		$ 772,345		$ 1,765,957

3_Investments_Investments_Clas

3) Investments: Investments Classified by Contractual Maturity Date (Tables)	9 Months Ended
	Sep. 30, 2014
Held-to-maturity Securities	'
Investments Classified by Contractual Maturity Date	'

		Amortized Cost	Estimated Fair Value
	Held to Maturity:
	Due in 2014	$ 499,659	$ 502,075
	Due in 2015 through 2018	27,866,510	30,602,507
	Due in 2019 through 2023	36,361,408	40,559,482
	Due after 2023	66,484,508	75,009,632
	Mortgage-backed securities	3,716,520	3,984,201
	Redeemable preferred stock	612,023	632,130
	Total held to maturity	$ 135,540,628	$ 151,290,027
Available-for-sale Securities	'
Investments Classified by Contractual Maturity Date	'
		Amortized Cost	Estimated Fair Value
	Available for Sale:
	Due in 2014	$ -	$ -
	Due in 2015 through 2018	-	-
	Due in 2019 through 2023	-	-
	Due after 2023	-	-
	Non-redeemable preferred stock	-	-
	Common stock	7,139,879	6,725,976
	Total available for sale	$ 7,139,879	$ 6,725,976

3_Investments_Gain_Loss_on_Inv

3) Investments: Gain (Loss) on Investments (Tables)	9 Months Ended
3) Investments: Gain (Loss) on Investments (Tables)	Sep. 30, 2014
Tables/Schedules	'
Gain (Loss) on Investments	'
		Three Months Ended September 30		Nine Months Ended September 30
		2014	2013	2014	2013
	Fixed maturity securities held to maturity:
	Gross realized gains	$ 211,403	$ 60,330	$ 258,951	$ 75,734
	Gross realized losses	(66,459)	(20,796)	(68,742)	(35,964)
	Other than temporary impairments	(30,000)	(30,000)	(90,000)	(90,000)

	Securities available for sale:
	Gross realized gains	77,386	59,041	214,303	298,423
	Gross realized losses	(27,651)	-	(38,918)	(2,678)
	Other than temporary impairments	-	-	-	-

	Other assets:
	Gross realized gains	352,151	96,152	720,082	841,972
	Gross realized losses	(116,920)	-	(116,921)	-
	Other than temporary impairments	(353,776)	-	(353,776)	(115,922)
	Total	$ 46,134	$ 164,727	$ 524,979	$ 971,565

3_Investments_Schedule_of_Majo

3) Investments: Schedule of Major categories of net investment income (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of Major categories of net investment income	'
		Three Months Ended September 30		Nine Months Ended September 30
		2014	2013	2014	2013
	Fixed maturity securities	$ 2,036,407	$ 2,131,804	$ 6,212,852	$ 6,141,648
	Equity securities	73,110	53,123	163,109	157,612
	Mortgage loans on real estate	2,216,711	1,151,536	5,605,882	3,189,020
	Real estate	2,125,374	2,048,994	6,416,939	4,492,517
	Policy and other loans	195,138	211,387	574,393	610,618
	Short-term investments, principally gains on sale of mortgage loans and other	3,831,378	2,263,234	8,512,479	6,855,865
	Gross investment income	10,478,118	7,860,078	27,485,654	21,447,280
	Investment expenses	(2,286,156)	(2,606,031)	(6,943,905)	(6,166,172)
	Net investment income	$ 8,191,962	$ 5,254,047	$ 20,541,749	$ 15,281,108

3_Investments_Schedule_of_Allo

3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of Allowance for loan losses as a contra-asset account	'

	Allowance for Credit Losses and Recorded Investment in Mortgage Loans

		Commercial	Residential	Residential Construction	Total
	30-Sep-14
	Allowance for credit losses:
	Beginning balance - January 1, 2014	$ 187,129	$ 1,364,847	$ 100,114	$ 1,652,090
	Charge-offs	-	(38,444)	-	(38,444)
	Provision	-	258,246	-	258,246
	Ending balance -September 30, 2014	$ 187,129	$ 1,584,649	$ 100,114	$ 1,871,892

	Ending balance: individually evaluated for impairment	$ -	$ 153,446	$ -	$ 153,446

	Ending balance: collectively evaluated for impairment	$ 187,129	$ 1,431,203	$ 100,114	$ 1,718,446

	Ending balance: loans acquired with deteriorated credit quality	$ -	$ -	$ -	$ -

	Mortgage loans:
	Ending balance	$ 43,403,890	$ 51,600,930	$ 29,632,638	$ 124,637,458

	Ending balance: individually evaluated for impairment	$ -	$ 1,387,426	$ -	$ 1,387,426

	Ending balance: collectively evaluated for impairment	$ 43,403,890	$ 50,213,504	$ 29,632,638	$ 123,250,032

	Ending balance: loans acquired with deteriorated credit quality	$ -	$ -	$ -	$ -

	31-Dec-13
	Allowance for credit losses:
	Beginning balance - January 1, 2013	$ -	$ 4,193,674	$ 46,187	$ 4,239,861
	Charge-offs	-	(2,670,794)	(137,629)	(2,808,423)
	Provision	187,129	(158,033)	191,556	220,652
	Ending balance - December 31, 2013	$ 187,129	$ 1,364,847	$ 100,114	$ 1,652,090

	Ending balance: individually evaluated for impairment	$ -	$ 152,745	$ -	$ 152,745

	Ending balance: collectively evaluated for impairment	$ 187,129	$ 1,212,102	$ 100,114	$ 1,499,345

	Ending balance: loans acquired with deteriorated credit quality	$ -	$ -	$ -	$ -

	Mortgage loans:
	Ending balance	$ 41,653,009	$ 49,868,486	$ 12,912,473	$ 104,433,968

	Ending balance: individually evaluated for impairment	$ -	$ 1,518,327	$ -	$ 1,518,327

	Ending balance: collectively evaluated for impairment	$ 41,653,009	$ 48,350,159	$ 12,912,473	$ 102,915,641

	Ending balance: loans acquired with deteriorated credit quality	$ -	$ -	$ -	$ -

3_Investments_Schedule_of_agin

3) Investments: Schedule of aging of mortgage loans (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of aging of mortgage loans	'

	Age Analysis of Past Due Mortgage Loans

		30-59 Days Past Due	60-89 Days Past Due	Greater Than 90 Days (1)	In Foreclosure (1)	Total Past Due	Current	Total Mortgage Loans	Allowance for Loan Losses	Net Mortgage Loans
	30-Sep-14

	Commercial	$ -	$ -	$ -	$ -	$ -	$ 43,403,890	$ 43,403,890	$ (187,129)	$ 43,216,761
	Residential	1,525,136	2,082,232	5,433,523	1,387,426	10,428,317	41,172,613	51,600,930	(1,584,649)	50,016,281
	Residential Construction	-	-	64,895	-	64,895	29,567,743	29,632,638	(100,114)	29,532,524

	Total	$ 1,525,136	$ 2,082,232	$ 5,498,418	$ 1,387,426	$ 10,493,212	$ 114,144,246	$ 124,637,458	$ (1,871,892)	$ 122,765,566

	31-Dec-13
	Commercial	$ -	$ -	$ -	$ 4,973,745	$ 4,973,745	$ 36,679,264	$ 41,653,009	$ (187,129)	$ 41,465,880
	Residential	1,646,953	1,604,847	5,867,501	1,518,327	10,637,628	39,230,858	49,868,486	(1,364,847)	48,503,639
	Residential Construction	-	-	64,895	-	64,895	12,847,578	12,912,473	(100,114)	12,812,359

	Total	$ 1,646,953	$ 1,604,847	$ 5,932,396	$ 6,492,072	$ 15,676,268	$ 88,757,700	$ 104,433,968	$ (1,652,090)	$ 102,781,878

	(1) Interest income is not recognized on loans past due greater than 90 days or in foreclosure.

3_Investments_Schedule_of_Impa

3) Investments: Schedule of Impaired Mortgage Loans (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of Impaired Mortgage Loans	'

	Impaired Loans

		Recorded Investment	Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
	30-Sep-14
	With no related allowance recorded:
	Commercial	$ -	$ -	$ -	$ -	$ -
	Residential	-	-	-	-	-
	Residential construction	-	-	-	-	-

	With an allowance recorded:
	Commercial	$ -	$ -	$ -	$ -	$ -
	Residential	1,387,426	1,387,426	153,446	1,387,426	-
	Residential construction	-	-	-	-	-

	Total:
	Commercial	$ -	$ -	$ -	$ -	$ -
	Residential	1,387,426	1,387,426	153,446	1,387,426	-
	Residential construction	-	-	-	-	-

	31-Dec-13
	With no related allowance recorded:
	Commercial	$ -	$ -	$ -	$ -	$ -
	Residential	-	-	-	-	-
	Residential construction	-	-	-	-	-

	With an allowance recorded:
	Commercial	$ -	$ -	$ -	$ -	$ -
	Residential	1,518,327	1,518,327	152,745	1,518,327	-
	Residential construction	-	-	-	-	-

	Total:
	Commercial	$ -	$ -	$ -	$ -	$ -
	Residential	1,518,327	1,518,327	152,745	1,518,327	-
	Residential construction	-	-	-	-	-

3_Investments_Schedule_Of_Cred

3) Investments: Schedule Of Credit Risk Of Mortgage Loans Based On Performance Status (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule Of Credit Risk Of Mortgage Loans Based On Performance Status:	'
	The Company’s performing and non-performing mortgage loans were as follows:

	Mortgage Loan Credit Exposure
	Credit Risk Profile Based on Payment Activity

		Commercial		Residential		Residential Construction		Total
		30-Sep-14	30-Dec-13	30-Sep-14	30-Dec-13	30-Sep-14	30-Dec-13	30-Sep-14	30-Dec-13

	Performing	$ 43,403,890	$ 36,679,264	$ 44,779,981	$ 42,482,658	$ 29,567,743	$ 12,847,578	$ 117,751,614	$ 92,009,500
	Nonperforming	-	4,973,745	6,820,949	7,385,828	64,895	64,895	6,885,844	12,424,468

	Total	$ 43,403,890	$ 41,653,009	$ 51,600,930	$ 49,868,486	$ 29,632,638	$ 12,912,473	$ 124,637,458	$ 104,433,968

3_Investments_Schedule_of_Mort

3) Investments: Schedule of Mortgage loans on a nonaccrual status (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of Mortgage loans on a nonaccrual status	'

		Mortgage Loans on Nonaccrual Status

		As of September 30, 2014	As of December 31, 2013
	Commercial	$ -	$ 4,973,745
	Residential	6,820,949	7,385,828
	Residential construction	64,895	64,895
	Total	$ 6,885,844	$ 12,424,468

3_Investments_Schedule_of_loan

3) Investments: Schedule of loan loss reserve which is included in other liabilities and accrued expenses (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of loan loss reserve which is included in other liabilities and accrued expenses	'
		As of September 30 2014	As of December 31 2013
	Balance, beginning of period	$ 5,506,532	$ 6,035,295
	Provisions for losses	2,006,876	1,846,285
	Charge-offs	(700,228)	(2,375,048)
	Balance, end of period	$ 6,813,180	$ 5,506,532

4_Stockbased_Compensation_Sche

4) Stock-based Compensation: Schedule of stock inventive plan changes (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of stock inventive plan changes	'

		Number of Class A Shares	Weighted Average Exercise Price	Number of Class C Shares	Weighted Average Exercise Price

	Outstanding at December 31, 2013	405,133	$ 2.41	508,657	$ 2.00
	Granted	52,000	4.29	50,000	4.72
	Exercised	(40,468)	1.66	-
	Cancelled	(8,201)	2.29	-
	Outstanding at September 30, 2014	408,464	$ 2.75	558,657	$ 2.00

	As of September 30, 2014:
	Options exercisable	334,869	$ 2.40	495,532	$ 1.92

	As of September 30, 2014:
	Available options for future grant	412,480		55,000

	Weighted average contractual term of options
	outstanding at September 30, 2014	7.01 years		2.57 years

	Weighted average contractual term of options
	exercisable at September 30, 2014	6.45 years		1.80 years

	Aggregated intrinsic value of options
	outstanding at September 30, 2014 (1)	$913,166		$1,524,902

	Aggregated intrinsic value of options
	exercisable at September 30, 2014 (1)	$869,804		$1,512,402

	(1) The Company used a stock price of $4.97 as of September 30, 2014 to derive intrinsic value.

6_Earnings_Per_Share_Schedule_

6) Earnings Per Share: Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share	'
	The basic and diluted earnings per share amounts were calculated as follows:

			Three Months Ended September 30		Nine Months Ended September 30
			2014	2013	2014	2013
	Numerator:
		Net earnings	$ 2,137,822	$ 1,266,491	$ 4,900,733	$ 6,099,002
	Denominator:
		Basic weighted-average shares outstanding	11,840,713	11,985,488	11,873,045	11,776,015
	Effect of dilutive securities:
		Employee stock options	447,096	546,843	422,575	597,349

		Diluted weighted-average shares outstanding	12,287,809	12,532,331	12,295,620	12,373,364

	Basic net earnings per share		$0.18	$0.11	$0.41	$0.52

	Diluted net earnings per share		$0.17	$0.10	$0.40	$0.49

7_Business_Segments_Schedule_o

7) Business Segments: Schedule of Revenues and Expenses by Reportable Segment (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of Revenues and Expenses by Reportable Segment	'

		Life Insurance	Cemetery/ Mortuary	Mortgage	Eliminations	Consolidated
	For the Three Months Ended
	30-Sep-14
	Revenues from external customers	$ 21,552,754	$ 2,707,908	$37,465,130	$ -	$ 61,725,792
	Intersegment revenues	2,407,685	331,415	166,043	(2,905,143)	-
	Segment profit before income taxes	1,986,732	(119,548)	1,509,956	-	3,377,140

	For the Three Months Ended
	30-Sep-13
	Revenues from external customers	$ 17,341,200	$ 2,959,197	$ 30,252,394	$ -	$ 50,552,791
	Intersegment revenues	2,334,416	369,121	67,637	(2,771,174)	-
	Segment profit before income taxes	1,102,552	12,757	848,975	-	1,964,284

	For the nine Months Ended
	30-Sep-14
	Revenues from external customers	$ 59,836,068	$ 9,283,357	$ 97,071,373	$ -	$ 166,190,798
	Intersegment revenues	6,825,600	1,002,027	561,438	(8,389,065)	-
	Segment profit before income taxes	4,833,627	232,141	2,664,456	-	7,730,224

	Identifiable Assets	646,540,190	106,836,565	56,961,903	(149,825,928)	660,512,730
	Goodwill	2,765,570	285,191	-	-	3,050,761

	For the nine Months Ended
	30-Sep-13
	Revenues from external customers	$ 51,382,581	$ 9,319,788	$ 106,034,945	$ -	$ 166,737,314
	Intersegment revenues	7,427,209	1,084,627	192,402	(8,704,238)	-
	Segment profit before income taxes	2,357,705	197,123	7,106,599	-	9,661,427

	Identifiable Assets	584,851,564	111,152,568	59,582,138	(134,176,683)	621,409,587
	Goodwill	391,848	285,191	-	-	677,039

8_Fair_Value_of_Financial_Inst1

8): Fair Value of Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Tables)	9 Months Ended
	Sep. 30, 2014
As of September 30, 2014	'
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	'
		Total	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
	Assets accounted for at fair value on a recurring basis
	Common stock	$ 6,725,976	$ 6,725,976	$ -	$ -
	Total securities available for sale	$ 6,725,976	$ 6,725,976	$ -	$ -

	Restricted assets of cemeteries and mortuaries	$ 701,543	$ 701,543	$ -	$ -
	Cemetery perpetual care trust investments	678,433	678,433	-	-
	Derivatives - interest rate lock commitments	2,181,504	-	-	2,181,504
	Total assets accounted for at fair value on a recurring basis	$ 10,287,456	$ 8,105,952	$ -	$ 2,181,504

	Liabilities accounted for at fair value on a recurring basis
	Policyholder account balances	$ (46,854,900)	$ -	$ -	$ (46,854,900)
	Future policy benefits - annuities	(65,476,458)	-	-	(65,476,458)
	Derivatives - bank loan interest rate swaps	(36,355)	-	-	(36,355)
	- call options	(56,030)	(56,030)	-	-
	- interest rate lock commitments	(168,460)	-	-	(168,460)
	Total liabilities accounted for at fair value on a recurring basis	$ (112,592,203)	$ (56,030)	$ -	$ (112,536,173)
AsOfDecember312013Member	'
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	'
		Total	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
	Assets accounted for at fair value on a recurring basis
	Common stock	$ 4,498,756	$ 4,498,756	$ -	$ -
	Total securities available for sale	$ 4,498,756	$ 4,498,756	$ -	$ -

	Restricted assets of cemeteries and mortuaries	$ 667,149	$ 667,149	$ -	$ -
	Cemetery perpetual care trust investments	695,616	695,616	-	-
	Derivatives - interest rate lock commitments	1,511,111	-	-	1,511,111
	Total assets accounted for at fair value on a recurring basis	$ 7,372,632	$ 5,861,521	$ -	$ 1,511,111
	Liabilities accounted for at fair value on a recurring basis
	Policyholder account balances	$ (48,000,668)	$ -	$ -	$ (48,000,668)
	Future policy benefits - annuities	(65,052,928)	-	-	(65,052,928)
	Derivatives - bank loan interest rate swaps	(58,310)	-	-	(58,310)
	- call options	(124,174)	(124,174)	-	-
	- interest rate lock commitment	(23,203)	-	-	(23,203)
	Total liabilities accounted for at fair value on a recurring basis	$ (113,259,283)	$ (124,174)	$ -	$ (113,135,109)

8_Fair_Value_of_Financial_Inst2

8): Fair Value of Financial Instruments: Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs (Tables)	9 Months Ended
	Sep. 30, 2014
As of September 30, 2014	'
Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs	'

	Following is a summary of changes in the consolidated balance sheet line items measured using level 3 inputs:

		Policyholder Account Balances	Future Policy Benefits - Annuities	Interest Rate Lock Commitments	Bank Loan Interest Rate Swaps

	Balance - December 31, 2013	$ (48,000,668)	$ (65,052,928)	$ 1,487,908	$ (58,310)

	Total gains (losses):

	Included in earnings	1,145,768	(423,530)	-	-

	Included in other comprehensive income (loss)	-	-	525,136	21,955

	Balance - September 30, 2014	$ (46,854,900)	$ (65,476,458)	$ 2,013,044	$ (36,355)
AsOfDecember312012Member	'
Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs	'
		Policyholder Account Balances	Future Policy Benefits - Annuities	Interest Rate Lock Commitments	Bank Loan Interest Rate Swaps
	Balance - December 31, 2012	$ (49,746,337)	$ (65,171,687)	$ 2,961,465	$ (93,572)
	Total gains (losses):
	Included in earnings	1,745,669	118,759	-	-
	Included in other
	comprehensive income	-	-	(1,473,557)	35,262
	Balance - December 31, 2013	$ (48,000,668)	$ (65,052,928)	$ 1,487,908	$ (58,310)

8_Fair_Value_of_Financial_Inst3

8): Fair Value of Financial Instruments: Schedule of Fair Value Measurements, Nonrecurring (Tables)	9 Months Ended
	Sep. 30, 2014
As of September 30, 2014	'
Schedule of Fair Value Measurements, Nonrecurring	'

			Quoted Prices
			in Active	Significant	Significant
			Markets for	Observable	Unobservable
			Identical Assets	Inputs	Inputs
		Total	(Level 1)	(Level 2)	(Level 3)
	Assets accounted for at fair value on a nonrecurring basis
	Mortgage servicing rights	$ 2,582,672	-	-	$ 2,582,672
	Real estate held for investment	9,499,648	-	-	9,499,648
	Total assets accounted for at fair value on a nonrecurring basis	$ 12,082,320	$ -	$ -	$ 12,082,320
AsOfDecember312012Member	'
Schedule of Fair Value Measurements, Nonrecurring	'

			Quoted Prices
			in Active	Significant	Significant
			Markets for	Observable	Unobservable
			Identical Assets	Inputs	Inputs
		Total	(Level 1)	(Level 2)	(Level 3)
	Assets accounted for at fair value on a
	nonrecurring basis
	Mortgage servicing rights	$ 5,291,724	-	-	$ 5,291,724
	Mortgage loans on real estate	89,000	-	-	89,000
	Real estate held for investment	660,784	-	-	660,784
	Total assets accounted for at fair value on a
	nonrecurring basis	$ 6,041,508	$ -	$ -	$ 6,041,508

8_Fair_Value_of_Financial_Inst4

8): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of Financial Instruments Carried at Other Than Fair Value	'

		Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
	Assets
	Mortgage loans:
	Residential	$ 50,016,281	$ -	$ -	$ 53,242,830	$ 53,242,830
	Residential construction	29,532,524	-	-	29,532,524	29,532,524
	Commercial	43,216,761	-	-	45,167,199	45,167,199
	Mortgage loans, net	$ 122,765,566	$ -	$ -	$ 127,942,553	$ 127,942,553
	Policy loans	7,294,962	-	-	7,294,962	7,294,962
	Other loans	25,921,120	-	-	25,921,120	25,921,120
	Short-term investments	25,024,278	-	-	25,024,278	25,024,278

	Liabilities
	Bank and other loans payable	$ 22,104,020	$ -	$ -	$ 22,104,020	$ 22,104,020

	The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows as of December 31, 2013:

		Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
	Assets
	Mortgage loans:
	Residential	$ 48,503,639	$ -	$ -	$ 51,537,154	$ 51,537,154
	Residential construction	12,812,359	-	-	12,812,359	12,812,359
	Commercial	41,465,880	-	-	42,441,268	42,441,268
	Mortgage loans, net	$ 102,781,878	$ -	$ -	$ 106,790,781	$ 106,790,781
	Policy loans	7,520,376	-	-	7,520,376	7,520,376
	Other loans	12,203,630	-	-	12,203,630	12,203,630
	Short-term investments	12,135,719	-	-	12,135,719	12,135,719

	Liabilities
	Bank and other loans payable	$ 18,231,128	$ -	$ -	$ 18,231,128	$ 18,231,128

10_Derivative_Commitments_Sche

10) Derivative Commitments: Schedule of Derivative Assets at Fair Value (Tables)

9 Months Ended

Sep. 30, 2014

Tables/Schedules

Schedule of Derivative Assets at Fair Value

Fair Value of Derivative Instruments

Asset Derivatives

Liability Derivatives

30-Sep-14

31-Dec-13

30-Sep-14

31-Dec-13

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Derivatives designated as hedging instruments:

Interest rate lock and forward sales commitments

other assets

$2,181,504

other assets

$1,511,111

Other liabilities

$ 168,460

Other liabilities

$ 23,203

Call Options

Other liabilities

56,030

Other liabilities

124,174

Interest rate swaps

Bank loans payable

36,355

Bank loans payable

58,310

Total

$2,181,504

$1,511,111

$ 260,845

$ 205,687

10_Derivative_Commitments_Sche1

10) Derivative Commitments: Schedule of Gains and Losses on Derivatives (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of Gains and Losses on Derivatives	'
		Net Amount Gain (Loss) Recognized in OCI		Net Amount Gain (Loss) Recognized in OCI
		Three Months Ended September 30		Nine Months Ended September 30
	Derivative - Cash Flow Hedging Relationships:	2014	2013	2014	2013
	Interest Rate Lock Commitments	$ (713,276)	$ (1,616,310)	$ 525,136	$ (1,097,099)
	Interest Rate Swaps	9,655	5,890	21,955	27,691
	Sub Total	(703,621)	(1,610,420)	547,091	(1,069,408)
	Tax Effect	(274,412)	(628,356)	213,366	(270,380)
	Total	$ (429,209)	$ (982,064)	$ 333,725	$ (799,028)

12_Mortgage_Servicing_Rights_S

12) Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of Mortgage Servicing Rights	'

	The following is a summary of the MSR activity for the periods presented.

		As of September 30 2014	As of December 31 2013
	Amortized cost:
	Balance before valuation allowance at beginning of year	$ 4,844,101	$ 2,797,470
	MSRs proceeds from loan sales	2,582,672	2,494,254
	Amortization	(521,704)	(447,623)
	Application of valuation allowance to write down MSRs with other than temporary impairment	-	-
	Balance before valuation allowance at year end	$ 6,905,069	$ 4,844,101

	Valuation allowance for impairment of MSRs:
	Balance at beginning of year	$ -	$ -
	Additions	-	-
	Application of valuation allowance to write down MSRs with other than temporary impairment	-	-
	Balance at end of period	$ -	$ -

	Mortgage servicing rights, net	$ 6,905,069	$ 4,844,101

	Estimated fair value of MSRs at end of period	$ 7,278,193	$ 5,491,270

13_Mergers_Acquisitions_and_Di1

13) Mergers, Acquisitions and Dispositions Disclosures: Schedule of assets acquired and liabilities assumed (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of assets acquired and liabilities assumed	'
	The estimated fair values of the assets acquired and the liabilities assumed at the date of acquisition were as follows:

	Other loans, net	$ 11,866,193
	Property and equipment	760,120
	Goodwill	2,373,722
	Other	1,379,158
	Total assets acquired	16,379,193
	Other liabilities and accrued expenses	(1,368,000)
	Total liabilities assumed	(1,368,000)
	Fair value of net assets acquired	$ 15,011,193

13_Mergers_Acquisitions_and_Di2

13) Mergers, Acquisitions and Dispositions Disclosures: Schedule of pro forma financial information (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of pro forma financial information	'

		For the Three Months Ended September 30 (unaudited)		For the Nine Months Ended September 30 (unaudited)
		2014	2013	2014	2013
	Total revenues	$ 61,725,792	$ 51,865,289	$ 168,522,777	$ 170,048,145
	Net earnings	$ 2,137,822	$ 1,422,873	$ 5,142,490	$ 6,427,785
	Net earnings per Class A equivalent common share	$ 0.18	$ 0.12	$ 0.43	$ 0.55
	Net earnings per Class A equivalent common share assuming dilution	$ 0.17	$ 0.11	$ 0.42	$ 0.52

3_Investments_Heldtomaturity_S1

3) Investments: Held-to-maturity Securities (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Amortized Cost	$135,540,628	$143,466,494
Gross Unrealized Gains	16,023,760	11,229,300
Gross Unrealized Losses	-274,361	-1,421,574
Estimated Fair Value	151,290,027	153,274,220
US Treasury and Government	'	'
Amortized Cost	1,875,494	2,284,261
Gross Unrealized Gains	319,767	298,901
Estimated Fair Value	2,195,261	2,583,162
US States and Political Subdivisions Debt Securities	'	'
Amortized Cost	1,735,660	1,790,661
Gross Unrealized Gains	230,895	197,340
Gross Unrealized Losses	-5,449	-9,404
Estimated Fair Value	1,961,106	1,978,597
Corporate Debt Securities	'	'
Amortized Cost	127,600,931	134,257,468
Gross Unrealized Gains	15,174,250	10,513,448
Gross Unrealized Losses	-257,852	-1,394,919
Estimated Fair Value	142,517,329	143,375,997
Collateralized Mortgage Backed Securities	'	'
Amortized Cost	3,716,520	4,522,081
Gross Unrealized Gains	278,741	206,617
Gross Unrealized Losses	-11,060	-11,351
Estimated Fair Value	3,984,201	4,717,347
Redeemable Preferred Stock	'	'
Amortized Cost	612,023	612,023
Gross Unrealized Gains	20,107	12,994
Gross Unrealized Losses	'	-5,900
Estimated Fair Value	$632,130	$619,117

3_Investments_Availableforsale1

3) Investments: Available-for-sale Securities (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Available-for-sale Securities, Amortized Cost Basis	$7,139,879	'
AvailableForSaleSecuritiesEstimatedFairValue	6,725,976	'
Mortgage loans on real estate and construction	122,765,566	102,781,878
Mortgage loans on real estate and construction, allowance for losses	-1,871,892	-1,652,090
Real estate held for investment, net of depreciation	105,643,820	99,760,475
Loans held for sale policy loans	7,294,962	7,520,376
Loans Held-for-sale, Other	26,504,618	12,472,805
Loans held for sale allowance for doubtful accounts	-583,498	-269,175
Loans Receivable Held-for-sale, Net	33,216,082	19,724,006
Short-term investments at amortized cost	25,024,278	12,135,719
Residential Mortgage	'	'
Mortgage loans on real estate and construction	51,600,930	49,868,486
Residential Construction	'	'
Mortgage loans on real estate and construction	29,632,638	12,912,473
Commercial Loan	'	'
Mortgage loans on real estate and construction	43,403,890	41,653,009
Common Stock	'	'
Available-for-sale Securities, Amortized Cost Basis	7,139,879	'
AvailableForSaleSecuritiesEstimatedFairValue	6,725,976	'
Industrial, miscellaneous and all other equity securities	'	'
Available-for-sale Securities, Amortized Cost Basis	7,139,879	4,783,936
Available-for-sale Securities, Gross Unrealized Gains	237,186	240,206
AvailableForSaleSecuritiesGrossUnrealizedLosses	-651,089	-525,386
AvailableForSaleSecuritiesEstimatedFairValue	6,725,976	4,498,756
Equity Securities	'	'
Available-for-sale Securities, Amortized Cost Basis	7,139,879	4,783,936
Available-for-sale Securities, Gross Unrealized Gains	237,186	240,206
AvailableForSaleSecuritiesGrossUnrealizedLosses	-651,089	-525,386
AvailableForSaleSecuritiesEstimatedFairValue	$6,725,976	$4,498,756

3_Investments_Schedule_of_Unre1

3) Investments: Schedule of Unrealized Loss on Investments (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Held-to-maturity Securities, Unrecognized Holding Loss	$274,361	$1,421,574
Available-for-sale Securities, Fair Value Disclosure	2,718,396	1,765,957
US States and Political Subdivisions Debt Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	5,449	9,404
Corporate Debt Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	257,852	1,394,919
Collateralized Mortgage Backed Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	11,060	11,351
Redeemable Preferred Stock	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	'	5,900
Industrial, miscellaneous and all other equity securities	'	'
AvailableForSaleSecuritiesGrossUnrealizedLosses	651,089	525,386
Equity Securities	'	'
AvailableForSaleSecuritiesGrossUnrealizedLosses	651,089	525,386
Less than 12 months	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	38,562	1,150,555
No. of Investment Positions	12	75
Held-to-maturity Securities, Fair Value	1,972,915	22,002,277
Available-for-sale Securities, Fair Value Disclosure	2,012,391	993,612
Less than 12 months \| US States and Political Subdivisions Debt Securities	'	'
No. of Investment Positions	0	'
Less than 12 months \| Corporate Debt Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	35,539	1,134,415
No. of Investment Positions	11	72
Less than 12 months \| Collateralized Mortgage Backed Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	3,023	3,109
No. of Investment Positions	1	1
Less than 12 months \| Redeemable Preferred Stock	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	'	5,900
No. of Investment Positions	0	1
Less than 12 months \| U.S. Treasury Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	'	7,131
No. of Investment Positions	'	1
Less than 12 months \| Industrial, miscellaneous and all other equity securities	'	'
No. of Investment Positions	157	28
AvailableForSaleSecuritiesGrossUnrealizedLosses	180,607	119,450
Less than 12 months \| Equity Securities	'	'
No. of Investment Positions	157	28
AvailableForSaleSecuritiesGrossUnrealizedLosses	180,607	119,450
More than 12 months	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	235,799	271,019
No. of Investment Positions	16	12
Held-to-maturity Securities, Fair Value	3,685,263	2,308,464
Available-for-sale Securities, Fair Value Disclosure	706,005	772,345
More than 12 months \| US States and Political Subdivisions Debt Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	5,449	'
No. of Investment Positions	1	'
More than 12 months \| Corporate Debt Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	222,312	260,504
No. of Investment Positions	14	10
More than 12 months \| Collateralized Mortgage Backed Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	8,038	8,242
No. of Investment Positions	1	1
More than 12 months \| Redeemable Preferred Stock	'	'
No. of Investment Positions	0	0
More than 12 months \| U.S. Treasury Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	'	2,273
No. of Investment Positions	'	1
More than 12 months \| Industrial, miscellaneous and all other equity securities	'	'
No. of Investment Positions	26	28
AvailableForSaleSecuritiesGrossUnrealizedLosses	470,482	405,936
More than 12 months \| Equity Securities	'	'
No. of Investment Positions	26	28
AvailableForSaleSecuritiesGrossUnrealizedLosses	470,482	405,936
Total	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	274,361	1,421,574
Held-to-maturity Securities, Fair Value	5,658,178	24,310,741
Total \| US States and Political Subdivisions Debt Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	5,449	'
Total \| Corporate Debt Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	257,851	1,394,919
Total \| Collateralized Mortgage Backed Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	11,061	11,351
Total \| Redeemable Preferred Stock	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	'	5,900
Total \| U.S. Treasury Securities	'	'
Held-to-maturity Securities, Unrecognized Holding Loss	'	$9,404

3_Investments_Details

3) Investments (Details) (USD $)	3 Months Ended		9 Months Ended
3) Investments (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Details	'	'	'	'	'
Average market value over amortized cost	95.40%	'	95.40%	'	94.50%
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Period Increase (Decrease)	$30,000	$30,000	$90,000	$90,000	'

3_Investments_Equity_Securitie

3) Investments: Equity Securities - Additional (Details)	Sep. 30, 2014	Dec. 31, 2013
Details	'	'
Average Market Value of Security over initial investment	80.70%	77.10%

3_Investments_Investments_Clas1

3) Investments: Investments Classified by Contractual Maturity Date (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Amortized Cost	$135,540,628	$143,466,494
Estimated Fair Value	151,290,027	153,274,220
Available-for-sale Securities, Amortized Cost Basis	7,139,879	'
AvailableForSaleSecuritiesEstimatedFairValue	6,725,976	'
Collateralized Mortgage Backed Securities	'	'
Amortized Cost	3,716,520	4,522,081
Estimated Fair Value	3,984,201	4,717,347
Redeemable Preferred Stock	'	'
Amortized Cost	612,023	612,023
Estimated Fair Value	632,130	619,117
Common Stock	'	'
Available-for-sale Securities, Amortized Cost Basis	7,139,879	'
AvailableForSaleSecuritiesEstimatedFairValue	6,725,976	'
DueIn2014Member	'	'
Amortized Cost	499,659	'
Estimated Fair Value	502,075	'
DueIn2015Through2018Member	'	'
Amortized Cost	27,866,510	'
Estimated Fair Value	30,602,507	'
DueIn2019Through2023Member	'	'
Amortized Cost	36,361,408	'
Estimated Fair Value	40,559,482	'
DueAfter2023Member	'	'
Amortized Cost	66,484,508	'
Estimated Fair Value	$75,009,632	'

3_Investments_Gain_Loss_on_Inv1

3) Investments: Gain (Loss) on Investments (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Fixed maturity securities held to maturity:	$46,134	$164,727	$524,979	$971,565
Categories of Investments, Marketable Securities, Held-to-maturity Securities	'	'	'	'
Gross Realized Gains	211,403	60,330	258,951	75,734
Gross Realized Losses	-66,459	-20,796	-68,742	-35,964
Other than Temporary Impairments	-30,000	-30,000	-90,000	-90,000
Categories of Investments, Marketable Securities, Available-for-sale Securities	'	'	'	'
Gross Realized Gains	77,386	59,041	214,303	298,423
Gross Realized Losses	-27,651	'	-38,918	-2,678
Other Assets	'	'	'	'
Gross Realized Gains	352,151	96,152	720,082	841,972
Gross Realized Losses	-116,920	'	-116,921	'
Other than Temporary Impairments	($353,776)	'	($353,776)	($115,922)

3_Investments_Net_carrying_amo

3) Investments: Net carrying amount of held to maturity securities (Details) (Categories of Investments, Marketable Securities, Held-to-maturity Securities, USD $)	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Categories of Investments, Marketable Securities, Held-to-maturity Securities	'	'	'	'
Net carrying amount for sales of securities	'	$1,599,184	'	$1,455,835
Net realized gain related to sales of securities	$60,169	$18,051	$11,009	'

3_Investments_Schedule_of_Majo1

3) Investments: Schedule of Major categories of net investment income (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Gross investment income	$10,478,118	$7,860,078	$27,485,654	$21,447,280
Investment Income, Investment Expense	-2,286,156	-2,606,031	-6,943,905	-6,166,172
Net Investment Income	8,191,962	5,254,047	20,541,749	15,281,108
Fixed Maturities	'	'	'	'
Gross investment income	2,036,407	2,131,804	6,212,852	6,141,648
Equity Securities	'	'	'	'
Gross investment income	73,110	53,123	163,109	157,612
Mortgage loans on real estate	'	'	'	'
Gross investment income	2,216,711	1,151,536	5,605,882	3,189,020
Real Estate	'	'	'	'
Gross investment income	2,125,374	2,048,994	6,416,939	4,492,517
Policy, Student and other loans	'	'	'	'
Gross investment income	195,138	211,387	574,393	610,618
Short-term investments, principally gains on sale of mortgage loans	'	'	'	'
Gross investment income	$3,831,378	$2,263,234	$8,512,479	$6,855,865

3_Investments_Net_Investment_I

3) Investments: Net Investment Income - Additional (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Net Investment Income	$8,191,962	$5,254,047	$20,541,749	$15,281,108	'
Securities on deposit for regulatory authorities	9,285,577	'	9,285,577	'	9,215,222
Cemeteries and mortuaries	'	'	'	'	'
Net Investment Income	$96,730	$93,801	$268,729	$259,810	'

3_Investments_Mortgage_Loans_A

3) Investments: Mortgage Loans - Additional (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Details	'	'
Mortgage loans on real estate balances, net of allowance for losses	$1,871,892	$1,652,090

3_Investments_Schedule_of_Allo1

3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Details) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses, Beginning Balance	$1,652,090	$4,239,861
Allowance for credit losses, Charge-offs	-38,444	-2,808,423
Allowance for credit losses, Provision	258,246	220,652
Financing Receivable, Allowance for Credit Losses, Ending Balance	1,871,892	1,652,090
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	153,446	152,745
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,718,446	1,499,345
Mortgage loans	124,637,458	104,433,968
Financing Receivable, Individually Evaluated for Impairment	1,387,426	1,518,327
Financing Receivable, Collectively Evaluated for Impairment	123,250,032	102,915,641
Commercial Loan	'	'
Allowance for credit losses, Provision	'	187,129
Financing Receivable, Allowance for Credit Losses, Ending Balance	187,129	187,129
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	187,129	187,129
Mortgage loans	43,403,890	41,653,009
Financing Receivable, Collectively Evaluated for Impairment	43,403,890	41,653,009
Residential Mortgage	'	'
Financing Receivable, Allowance for Credit Losses, Beginning Balance	1,364,847	4,193,674
Allowance for credit losses, Charge-offs	-38,444	-2,670,794
Allowance for credit losses, Provision	258,246	-158,033
Financing Receivable, Allowance for Credit Losses, Ending Balance	1,584,649	1,364,847
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	153,446	152,745
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,431,203	1,212,102
Mortgage loans	51,600,930	49,868,486
Financing Receivable, Individually Evaluated for Impairment	1,387,426	1,518,327
Financing Receivable, Collectively Evaluated for Impairment	50,213,504	48,350,159
Residential Construction	'	'
Financing Receivable, Allowance for Credit Losses, Beginning Balance	'	46,187
Allowance for credit losses, Charge-offs	'	-137,629
Allowance for credit losses, Provision	'	191,556
Financing Receivable, Allowance for Credit Losses, Ending Balance	100,114	100,114
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	100,114	100,114
Mortgage loans	29,632,638	12,912,473
Financing Receivable, Collectively Evaluated for Impairment	$29,632,638	$12,912,473

3_Investments_Schedule_of_agin1

3) Investments: Schedule of aging of mortgage loans (Details) (USD $)	9 Months Ended		12 Months Ended
	Sep. 30, 2014		Dec. 31, 2013
Mortgage Loans during period	$124,637,458		$104,433,968
Mortgage Loans, Allowance for Loan Losses	-1,871,892		-1,652,090
Net Mortgage Loans	122,765,566		102,781,878
Commercial Loan	'		'
Mortgage Loans during period	43,403,890		41,653,009
Mortgage Loans, Allowance for Loan Losses	-187,129		-187,129
Net Mortgage Loans	43,216,761		41,465,880
Residential Mortgage	'		'
Mortgage Loans during period	51,600,930		49,868,486
Mortgage Loans, Allowance for Loan Losses	-1,584,649		-1,364,847
Net Mortgage Loans	50,016,281		48,503,639
Residential Construction	'		'
Mortgage Loans during period	29,632,638		12,912,473
Mortgage Loans, Allowance for Loan Losses	-100,114		-100,114
Net Mortgage Loans	29,532,524		12,812,359
Past due 30 to 59 days	'		'
Mortgage Loans during period	1,525,136		1,646,953
Past due 30 to 59 days \| Residential Mortgage	'		'
Mortgage Loans during period	1,525,136		1,646,953
Past due 60 to 89 days	'		'
Mortgage Loans during period	2,082,232		1,604,847
Past due 60 to 89 days \| Residential Mortgage	'		'
Mortgage Loans during period	2,082,232		1,604,847
Past due 90 or more days	'		'
Mortgage Loans during period	5,498,418	[1]	5,932,396	[1]
Past due 90 or more days \| Residential Mortgage	'		'
Mortgage Loans during period	5,433,523	[1]	5,867,501	[1]
Past due 90 or more days \| Residential Construction	'		'
Mortgage Loans during period	64,895	[1]	64,895	[1]
In Foreclosure	'		'
Mortgage Loans during period	1,387,426	[1]	6,492,072	[1]
In Foreclosure \| Commercial Loan	'		'
Mortgage Loans during period	'		4,973,745	[1]
In Foreclosure \| Residential Mortgage	'		'
Mortgage Loans during period	1,387,426	[1]	1,518,327	[1]
Total Past Due	'		'
Mortgage Loans during period	10,493,212		15,676,268
Total Past Due \| Commercial Loan	'		'
Mortgage Loans during period	'		4,973,745
Total Past Due \| Residential Mortgage	'		'
Mortgage Loans during period	10,428,317		10,637,628
Total Past Due \| Residential Construction	'		'
Mortgage Loans during period	64,895		64,895
Current	'		'
Mortgage Loans during period	114,144,246		88,757,700
Current \| Commercial Loan	'		'
Mortgage Loans during period	43,403,890		36,679,264
Current \| Residential Mortgage	'		'
Mortgage Loans during period	41,172,613		39,230,858
Current \| Residential Construction	'		'
Mortgage Loans during period	$29,567,743		$12,847,578

[1]	There was not any interest income recognized on loans past due greater than 90 days or in foreclosure.

3_Investments_Schedule_of_Impa1

3) Investments: Schedule of Impaired Mortgage Loans (Details) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Residential Mortgage	'	'
Impaired Financing Receivable, with Related Allowance, Recorded Investment	$1,387,426	$1,518,327
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	1,387,426	1,518,327
Impaired Financing Receivable, Related Allowance	153,446	152,745
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	1,387,426	1,518,327
Total Residential Mortgage	'	'
Impaired Financing Receivable, with Related Allowance, Recorded Investment	1,387,426	1,518,327
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	1,387,426	1,518,327
Impaired Financing Receivable, Related Allowance	153,446	152,745
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	$1,387,426	$1,518,327

3_Investments_Schedule_Of_Cred1

3) Investments: Schedule Of Credit Risk Of Mortgage Loans Based On Performance Status (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Mortgage loans	$124,637,458	$104,433,968
Performing Financing Receivable	'	'
Mortgage loans	117,751,614	92,009,500
Nonperforming Financing Receivable	'	'
Mortgage loans	6,885,844	12,424,468
Commercial Loan	'	'
Mortgage loans	43,403,890	41,653,009
Commercial Loan \| Performing Financing Receivable	'	'
Mortgage loans	43,403,890	36,679,264
Commercial Loan \| Nonperforming Financing Receivable	'	'
Mortgage loans	'	4,973,745
Residential Mortgage	'	'
Mortgage loans	51,600,930	49,868,486
Residential Mortgage \| Performing Financing Receivable	'	'
Mortgage loans	44,779,981	42,482,658
Residential Mortgage \| Nonperforming Financing Receivable	'	'
Mortgage loans	6,820,949	7,385,828
Residential Construction	'	'
Mortgage loans	29,632,638	12,912,473
Residential Construction \| Performing Financing Receivable	'	'
Mortgage loans	29,567,743	12,847,578
Residential Construction \| Nonperforming Financing Receivable	'	'
Mortgage loans	$64,895	$64,895

3_Investments_Summary_of_Inter

3) Investments: Summary of Interest not accrued on non-performing mortgage loans (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Details	'	'
Interest not accrued on non-performing loans	$522,000	$678,000

3_Investments_Schedule_of_Mort1

3) Investments: Schedule of Mortgage loans on a nonaccrual status (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	$6,885,844	$12,424,468
Commercial Loan	'	'
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	'	4,973,745
Residential Mortgage	'	'
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	6,820,949	7,385,828
Residential Construction	'	'
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	$64,895	$64,895

3_Investments_Schedule_of_loan1

3) Investments: Schedule of loan loss reserve which is included in other liabilities and accrued expenses (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Details	'	'	'
Loan loss reserve, balance at start of period	$6,813,180	$5,506,532	$6,035,295
Loan loss reserve, Provisions for losses	2,006,876	1,846,285	'
Loan loss reserve, Charge-offs	-700,228	-2,375,048	'
Loan loss reserve, balance at end of period	$6,813,180	$5,506,532	$6,035,295

4_Stockbased_Compensation_Deta

4) Stock-based Compensation (Details) (USD $)	3 Months Ended		9 Months Ended
4) Stock-based Compensation (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Details	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$108,872	$4,122	$237,398	$66,711
Unrecognized compensation expense related to the options issued in July 2014	133,223	'	133,223	'
Unrecognized compensation expense related to the options issued in December 2013	46,589	'	46,589	'
Total intrinsic value	'	'	$133,141	$2,170,468

4_Stockbased_Compensation_Sche1

4) Stock-based Compensation: Schedule of stock inventive plan changes (Details) (USD $)	9 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Class A Common Stock	'	'
Shares, Outstanding	408,464	405,133
Shares outstanding	$2.75	$2.41
Shares Granted	52,000	'
Per Share Shares Granted	$4.29	'
Shares Exercised	-40,468	'
Per Share Shares exercised	$1.66	'
Shares Cancelled	-8,201	'
Per Share Shares cancelled	$2.29	'
Options Exercisable	334,869	'
Options exercisable	$2.40	'
Available options for future grant	$412,480	'
Weighted average contractual term of options outstanding	'7.01 years	'
Weighted average contractual term of options exercisable	'6.45 years	'
Aggregated intrinsic value of options outstanding	913,166	'
Aggregated intrinsic value of options exercisable	869,804	'
Class C Common Stock	'	'
Shares, Outstanding	558,657	508,657
Shares outstanding	$2	$2
Shares Granted	50,000	'
Per Share Shares Granted	$4.72	'
Options Exercisable	495,532	'
Options exercisable	$1.92	'
Available options for future grant	55,000	'
Weighted average contractual term of options outstanding	'2.57 years	'
Weighted average contractual term of options exercisable	'1.80 years	'
Aggregated intrinsic value of options outstanding	1,524,902	'
Aggregated intrinsic value of options exercisable	$1,512,402	'

6_Earnings_Per_Share_Schedule_1

6) Earnings Per Share: Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Details	'	'	'	'
Net earnings	$2,137,822	$1,266,491	$4,900,733	$6,099,002
Weighted-average Class A equivalent common share outstanding (1)	11,840,713	11,985,488	11,873,045	11,776,015
GrantOfEmployeeStockOptions	$447,096	$546,843	$422,575	$597,349
Diluted weighted-average shares outstanding	12,287,809	12,532,331	12,295,620	12,373,364
Net earnings per Class A Equivalent common share (1)	$0.18	$0.11	$0.41	$0.52
Net earnings per Class A Equivalent common share-assuming dilution (1)	$0.17	$0.10	$0.40	$0.49

6_Earnings_Per_Share_Details

6) Earnings Per Share (Details) (USD $)	9 Months Ended
6) Earnings Per Share (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2013
Details	'	'
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount	$56,912	$5,250

7_Business_Segments_Schedule_o1

7) Business Segments: Schedule of Revenues and Expenses by Reportable Segment (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Revenue from customers	$61,725,792	$50,552,791	$166,190,798	$166,737,314	'
SegmentReportingInformationIncomeLossBeforeIncomeTaxes	3,377,140	1,964,284	7,730,224	9,661,427	'
Identifiable Assets	660,512,730	621,409,587	660,512,730	621,409,587	'
Goodwill	3,050,761	677,039	3,050,761	677,039	677,039
Life Insurance Segment	'	'	'	'	'
Revenue from customers	21,552,754	17,341,200	59,836,068	51,382,581	'
SegmentReportingInformationIntersegmentRevenue	2,407,685	2,334,416	6,825,600	7,427,209	'
SegmentReportingInformationIncomeLossBeforeIncomeTaxes	1,986,732	1,102,552	4,833,627	2,357,705	'
Identifiable Assets	646,540,190	584,851,564	646,540,190	584,851,564	'
Goodwill	2,765,570	391,848	2,765,570	391,848	'
Cemetery and Mortuary	'	'	'	'	'
Revenue from customers	2,707,908	2,959,197	9,283,357	9,319,788	'
SegmentReportingInformationIntersegmentRevenue	331,415	369,121	1,002,027	1,084,627	'
SegmentReportingInformationIncomeLossBeforeIncomeTaxes	-119,548	12,757	232,141	197,123	'
Identifiable Assets	106,836,565	111,152,568	106,836,565	111,152,568	'
Goodwill	285,191	285,191	285,191	285,191	'
Mortgage	'	'	'	'	'
Revenue from customers	37,465,130	30,252,394	97,071,373	106,034,945	'
SegmentReportingInformationIntersegmentRevenue	166,043	67,637	561,438	192,402	'
SegmentReportingInformationIncomeLossBeforeIncomeTaxes	1,509,956	848,975	2,664,456	7,106,599	'
Identifiable Assets	56,961,903	59,582,138	56,961,903	59,582,138	'
Significant Reconciling Items	'	'	'	'	'
SegmentReportingInformationIntersegmentRevenue	-2,905,143	-2,771,174	-8,389,065	-8,704,238	'
Identifiable Assets	($149,825,928)	($134,176,683)	($149,825,928)	($134,176,683)	'

8_Fair_Value_of_Financial_Inst5

8): Fair Value of Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Available-for-sale Securities	$6,725,976	'
Restricted assets of cemeteries and mortuaries	701,543	667,149
Cemetery perpetual care trust investments	678,433	695,616
Derivatives - interest rate lock commitments	2,181,504	1,511,111
Assets, Fair Value Disclosure	10,287,456	7,372,632
Policyholder account balances	-46,854,900	-48,000,668
Future policy benefits - annuities	-65,476,458	-65,052,928
Derivatives - bank loan interest rate swaps	-36,355	-58,310
Derivatives - bank loan interest rate swaps, Call Options	-56,030	-124,174
Derivatives - bank loan interest rate swaps, Interest rate lock commitments	-168,460	-23,203
Liabilities accounted for at fair value	-112,592,203	-113,259,283
Non-redeemable preferred stock	'	4,498,756
Trading Securities, Equity	'	4,498,756
Fair Value, Inputs, Level 1	'	'
Available-for-sale Securities	6,725,976	'
Restricted assets of cemeteries and mortuaries	701,543	667,149
Cemetery perpetual care trust investments	678,433	695,616
Assets, Fair Value Disclosure	8,105,952	5,861,521
Derivatives - bank loan interest rate swaps, Call Options	-56,030	-124,174
Liabilities accounted for at fair value	-56,030	-124,174
Non-redeemable preferred stock	'	4,498,756
Trading Securities, Equity	'	4,498,756
Fair Value, Inputs, Level 3	'	'
Derivatives - interest rate lock commitments	2,181,504	1,511,111
Assets, Fair Value Disclosure	2,181,504	1,511,111
Policyholder account balances	-46,854,900	-48,000,668
Future policy benefits - annuities	-65,476,458	-65,052,928
Derivatives - bank loan interest rate swaps	-36,355	-58,310
Derivatives - bank loan interest rate swaps, Interest rate lock commitments	-168,460	-23,203
Liabilities accounted for at fair value	($112,536,173)	($113,135,109)

8_Fair_Value_of_Financial_Inst6

8): Fair Value of Financial Instruments: Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs (Details) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Policyholder Account Balances	'	'
Fair Value Balance	($48,000,668)	($49,746,337)
Fair Value, Losses (Gains) included in earnings	1,145,768	1,745,669
Fair Value Balance	-46,854,900	-48,000,668
Future Policy Benefits - Annuities	'	'
Fair Value Balance	-65,052,928	-65,171,687
Fair Value, Losses (Gains) included in earnings	-423,530	118,759
Fair Value Balance	-65,476,458	-65,052,928
Interest Rate Lock Commitments	'	'
Fair Value Balance	1,487,908	2,961,465
Fair Value, Losses (Gains) included in other comprehensive income	525,136	-1,473,557
Fair Value Balance	2,013,044	1,487,908
Bank Loan Interest Rate Swaps	'	'
Fair Value Balance	-58,310	-93,572
Fair Value, Losses (Gains) included in other comprehensive income	21,955	35,262
Fair Value Balance	($36,355)	($58,310)

8_Fair_Value_of_Financial_Inst7

8): Fair Value of Financial Instruments: Schedule of Fair Value Measurements, Nonrecurring (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Assets accounted for at fair value on a nonrecurring basis - Mortgage servicing rights	$2,582,672	'
Assets accounted for at fair value on a nonrecurring basis - Real estate held for investment	9,499,648	'
Assets accounted for at fair value on a nonrecurring basis	12,082,320	'
Mortgage servicing rights	'	5,291,724
Mortgage loans on real estate	'	89,000
Real estate held for investment	'	660,784
Assets, Fair Value Disclosure, Nonrecurring	'	6,041,508
Fair Value, Inputs, Level 3	'	'
Assets accounted for at fair value on a nonrecurring basis - Mortgage servicing rights	2,582,672	'
Assets accounted for at fair value on a nonrecurring basis - Real estate held for investment	9,499,648	'
Assets accounted for at fair value on a nonrecurring basis	12,082,320	'
Mortgage servicing rights	'	5,291,724
Mortgage loans on real estate	'	89,000
Real estate held for investment	'	660,784
Assets, Fair Value Disclosure, Nonrecurring	'	$6,041,508

8_Fair_Value_of_Financial_Inst8

8): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Carrying Value	$22,104,020	$18,231,128
Estimated Fair Value	22,104,020	18,231,128
Residential Mortgage	'	'
Carrying Value	50,016,281	48,503,639
Estimated Fair Value	53,242,830	51,537,154
Residential Construction	'	'
Carrying Value	29,532,524	12,812,359
Estimated Fair Value	29,532,524	12,812,359
Commercial Loan	'	'
Carrying Value	43,216,761	41,465,880
Estimated Fair Value	45,167,199	42,441,268
MortgageLoansNet1Member	'	'
Carrying Value	122,765,566	102,781,878
Estimated Fair Value	127,942,553	106,790,781
PolicyLoanMember	'	'
Carrying Value	7,294,962	7,520,376
Estimated Fair Value	7,294,962	7,520,376
OtherLoansMember	'	'
Carrying Value	25,921,120	12,203,630
Estimated Fair Value	25,921,120	12,203,630
ShortTermInvestments1Member	'	'
Carrying Value	25,024,278	12,135,719
Estimated Fair Value	25,024,278	12,135,719
Fair Value, Inputs, Level 3	'	'
Estimated Fair Value	22,104,020	18,231,128
Fair Value, Inputs, Level 3 \| Residential Mortgage	'	'
Estimated Fair Value	53,242,830	51,537,154
Fair Value, Inputs, Level 3 \| Residential Construction	'	'
Estimated Fair Value	29,532,524	12,812,359
Fair Value, Inputs, Level 3 \| Commercial Loan	'	'
Estimated Fair Value	45,167,199	42,441,268
Fair Value, Inputs, Level 3 \| MortgageLoansNet1Member	'	'
Estimated Fair Value	127,942,553	106,790,781
Fair Value, Inputs, Level 3 \| PolicyLoanMember	'	'
Estimated Fair Value	7,294,962	7,520,376
Fair Value, Inputs, Level 3 \| OtherLoansMember	'	'
Estimated Fair Value	25,921,120	12,203,630
Fair Value, Inputs, Level 3 \| ShortTermInvestments1Member	'	'
Estimated Fair Value	$25,024,278	$12,135,719

10_Derivative_Commitments_Deta

10) Derivative Commitments (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Details	'	'
Fair value of outstanding call options	$56,030	$124,174

10_Derivative_Commitments_Sche2

10) Derivative Commitments: Schedule of Derivative Assets at Fair Value (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Details	'	'
Fair Value of Asset Derivatives, Interest rate lock and forward sales commitments	$2,181,504	$1,511,111
Fair Value of Liability Derivatives, Interest rate lock and forward sales commitments	168,460	23,203
Fair Value of Liability Derivatives, Call Options	56,030	124,174
Fair Value of Liability Derivatives, Interest Rate Swaps	36,355	58,310
Fair Value of Asset Derivatives, Total	2,181,504	1,511,111
Fair Value of Liability Derivatives, Total	$260,845	$205,687

10_Derivative_Commitments_Sche3

10) Derivative Commitments: Schedule of Gains and Losses on Derivatives (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Details	'	'	'	'
Gain (Loss) on Derivatives, Interest Rate Lock Commitments	($713,276)	($1,616,310)	$525,136	($1,097,099)
Gain (Loss) on Derivatives, Interest Rate Swaps	9,655	5,890	21,955	27,691
GainLossOnDerivativesSubTotal	-703,621	-1,610,420	547,091	-1,069,408
TaxEffect-GainLossOnDerivatives	-274,412	-628,356	213,366	-270,380
Gain (Loss) on Derivatives, Total	($429,209)	($982,064)	$333,725	($799,028)

11_Reinsurance_Commitments_and1

11) Reinsurance, Commitments and Contingencies: Mortgage Loan Loss Settlements (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Details	'	'	'	'
Amounts accrued for loan losses	$1,063,000	$434,000	$2,007,000	$1,615,000

11_Reinsurance_Commitments_and2

11) Reinsurance, Commitments and Contingencies (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014
	Sep. 30, 2014	Dec. 31, 2013	Wells Fargo
Funds reserved and accrued to settle investor related claims	$6,813,000	$5,507,000	'
Initial Settlement Amount Paid	'	'	$4,300,000

11_Reinsurance_Commitments_and3

11) Reinsurance, Commitments and Contingencies: Other Contingencies and Commitments (Details) (USD $)	Sep. 30, 2014
Details	'
Commitments to fund new residential construction loans	$46,887,000
Commitments to fund new residential construction loans funded	$29,633,000

12_Mortgage_Servicing_Rights_S1

12) Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Details	'	'
Balance before valuation allowance at beginning of year	$4,844,101	$2,797,470
MSRs proceeds from loan sales	2,582,672	2,494,254
Amortization	-521,704	-447,623
Balance before valuation allowance at year end	6,905,069	4,844,101
Mortgage servicing rights, net	6,905,069	4,844,101
Estimated fair value of MSRs at end of period	$7,278,193	$5,491,270

13_Mergers_Acquisitions_and_Di3

13) Mergers, Acquisitions and Dispositions Disclosures: Schedule of assets acquired and liabilities assumed (Details) (USD $)	Jun. 04, 2014
Details	'
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets	$11,866,193
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	760,120
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	2,373,722
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed - Other Assets	1,379,158
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed - Total Assets	16,379,193
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities	-1,368,000
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed - Total Liabilities	-1,368,000
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$15,011,193

13_Mergers_Acquisitions_and_Di4

13) Mergers, Acquisitions and Dispositions Disclosures: Schedule of pro forma financial information (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Details	'	'	'	'
Business Acquisition, Pro Forma Revenue	$61,725,792	$51,865,289	$168,522,777	$170,048,145
Business Acquisition, Pro Forma Net Income (Loss)	$2,137,822	$1,422,873	$5,142,490	$6,427,785
Business Acquisition, Pro Forma Earnings Per Share, Basic	$0.18	$0.12	$0.43	$0.55
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$0.17	$0.11	$0.42	$0.52