Security National Financial (SNFCA) 10-Q 13 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 13, 2015
Entity Registrant Name	SECURITY NATIONAL FINANCIAL CORP
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Trading Symbol	snfca
Amendment Flag	false
Entity Central Index Key	318,673
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	2,015
Document Fiscal Period Focus	Q3
Class A Common Stock
Entity Common Stock, Shares Outstanding		12,481,039
Class C Common Stock
Entity Common Stock, Shares Outstanding		1,507,465

Balance Sheet

Balance Sheet - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Investments:
Fixed maturity securities, held to maturity, at amortized cost	$ 133,357,324	$ 135,018,347
Equity securities, available for sale, at estimated fair value	7,208,726	6,752,750
Mortgage loans on real estate and construction loans, held for investment net of allowances for loan losses of $1,856,694 and $2,003,055 for 2015 and 2014	111,683,254	120,050,072
Real estate held for investment, net of accumulated depreciation of $11,819,249 and $10,875,419 for 2015 and 2014	112,661,696	111,411,351
Policy and other loans, net of allowances for doubtful accounts of $888,807 and $693,413 for 2015 and 2014	34,461,555	34,125,428
Short-term investments	19,980,369	27,059,495
Accrued investment income	2,496,538	2,483,253
Total investments	421,849,462	436,900,696
Cash and cash equivalents	71,895,929	30,855,320
Mortgage loans sold to investors	102,235,979	67,534,400
Receivables, net	17,332,863	14,544,093
Restricted assets	10,330,518	9,347,797
Cemetery perpetual care trust investments	2,776,516	2,645,423
Receivable from reinsurers	13,454,542	12,036,263
Cemetery land and improvements	10,819,136	10,848,085
Deferred policy and pre-need contract acquisition costs	56,978,862	50,307,503
Mortgage servicing rights, net	11,574,339	7,834,747
Property and equipment, net	10,256,086	11,307,714
Value of business acquired	9,041,840	8,547,627
Goodwill	2,765,570	2,765,570
Other assets	8,084,196	5,594,324
Total Assets	749,395,838	671,069,562
Liabilities
Future life, annuity, and other benefits	514,497,225	476,727,465
Unearned premium reserve	4,794,176	4,961,937
Bank and other loans payable	39,535,964	29,020,378
Deferred pre-need cemetery and mortuary contract revenues	12,919,510	13,242,143
Cemetery perpetual care obligation	3,466,190	3,406,718
Accounts payable	3,788,303	1,789,387
Other liabilities and accrued expenses	36,583,403	24,408,666
Income taxes	24,505,505	20,421,767
Total liabilities	640,090,276	573,978,461
Stockholders' Equity
Additional paid-in capital	26,720,371	25,931,119
Accumulated other comprehensive income, net of taxes	1,851,881	1,438,566
Retained earnings	54,705,809	44,101,252
Treasury stock at cost - 884,375 Class A shares in 2015 and 986,264 Class A shares in 2014	(1,949,507)	(2,086,454)
Total stockholders' equity	109,305,562	97,091,101
Total Liabilities and Stockholders' Equity	749,395,838	671,069,562
Class A Common Stock
Stockholders' Equity
Common stock	$ 24,962,078	$ 24,918,480
Class B Common Stock
Stockholders' Equity
Common stock
Class C Common Stock
Stockholders' Equity
Common stock	$ 3,014,930	$ 2,788,138

Balance Sheet Parenthetical

Balance Sheet Parenthetical - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Allowance for losses on mortgage loans on real estate and construction loans, held for investment	$ 1,856,694	$ 2,003,055
Accumulated depreciation on real estate held for investment	11,819,249	10,875,419
Allowance for doubtful accounts on policy and other loans	$ 888,807	$ 693,413
Class A Common Stock
Common Stock Par Value	$ 2	$ 2
Common Stock Authorized	20,000,000	20,000,000
Common Stock Issued	12,481,039	12,459,240
Treasury Stock	884,375	986,264
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	1,507,465	1,394,069

Income Statement

Income Statement - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Insurance premiums and other considerations	$ 14,563,582	$ 13,804,510	$ 42,331,991	$ 40,268,943
Net investment income	8,432,414	8,191,962	24,845,931	20,541,749
Net mortuary and cemetery sales	2,811,329	2,490,280	8,701,417	8,768,224
Realized gains on investments and other assets	1,352,778	429,910	2,273,618	968,755
Other than temporary impairments on investments	(56,290)	(383,776)	(167,497)	(443,776)
Mortgage fee income	46,923,321	36,235,813	133,475,149	93,546,650
Other income	1,467,552	957,093	4,124,324	2,540,253
Total revenues	75,494,686	61,725,792	215,584,933	166,190,798
Benefits and expenses:
Death benefits	7,584,209	6,641,923	23,628,492	20,400,042
Surrenders and other policy benefits	715,209	707,539	1,888,606	1,850,302
Increase in future policy benefits	4,620,413	5,278,079	12,840,591	14,492,604
Amortization of deferred policy and pre-need acquisition costs and value of business acquired	1,338,084	1,854,041	3,683,437	4,750,976
Selling, general and administrative expenses:
Commissions	21,263,606	17,134,597	63,037,164	43,880,642
Personnel	15,768,614	13,141,100	45,333,563	36,497,666
Advertising	1,503,476	1,135,913	4,428,192	3,409,971
Rent and rent related	1,979,767	1,625,624	5,794,633	4,425,105
Depreciation on property and equipment	553,048	574,323	1,663,172	1,605,871
Provision for loan losses and loss reserve	1,754,781	1,063,451	4,673,991	2,006,876
Costs related to funding mortgage loans	2,352,611	1,932,627	6,947,976	5,141,946
Other expenses	6,606,960	5,886,301	19,674,568	16,339,983
Interest expense	1,191,627	954,610	3,551,242	2,238,722
Cost of goods and services sold-mortuaries and cemeteries	467,881	418,524	1,414,570	1,419,868
Total benefits and expenses	67,700,286	58,348,652	198,560,197	158,460,574
Earnings before income taxes	7,794,400	3,377,140	17,024,736	7,730,224
Income tax expense	(2,904,615)	(1,239,318)	(6,418,969)	(2,829,491)
Net earnings	$ 4,889,785	$ 2,137,822	$ 10,605,767	$ 4,900,733
Net earnings per Class A Equivalent common share (1)	$ 0.37	$ 0.17	$ 0.81	$ 0.39
Net earnings per Class A Equivalent common share-assuming dilution (1)	$ 0.35	$ 0.17	$ 0.78	$ 0.38
Weighted-average Class A equivalent common share outstanding (1)	13,146,617	12,455,314	13,023,962	12,487,646
Weighted-average Class A equivalent common shares outstanding-assuming dilution (1)	13,775,102	12,924,765	13,598,186	12,931,350

Comprehensive Income Statement

Comprehensive Income Statement - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Comprehensive Income Statement
Net earnings	$ 4,889,785	$ 2,137,822	$ 10,605,767	$ 4,900,733
Other comprehensive income (loss):
Net unrealized gains (losses) on derivative instruments	(859,581)	(429,209)	1,427,072	333,725
Net unrealized gains (losses) on available for sale securities	(619,641)	(235,888)	(1,013,757)	(75,822)
Other comprehensive income (loss)	(1,479,222)	(665,097)	413,315	257,903
Comprehensive income	$ 3,410,563	$ 1,472,725	$ 11,019,082	$ 5,158,636

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, 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 income				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
Balance at Dec. 31, 2014	24,918,480	2,788,138	25,931,119	1,438,566	44,101,252	(2,086,454)	97,091,101
Net earnings					10,605,767		10,605,767
Other comprehensive income				413,315			413,315
Grant of stock options			299,986				299,986
Exercise of stock options	41,862	228,046	(1,208)			(244,009)	24,691
Sale of treasury stock			489,746			380,956	870,702
Stock Dividends	480	2	728		(1,210)
Conversion Class C to Class A	1,256	(1,256)
Balance at Sep. 30, 2015	$ 24,962,078	$ 3,014,930	$ 26,720,371	$ 1,851,881	$ 54,705,809	$ (1,949,507)	$ 109,305,562

Statement of Cash Flows

Statement of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$ (3,677,377)	$ 36,391,145
Securities held to maturity:
Purchase-fixed maturity securities	(8,866,792)	(1,089,843)
Calls and maturities - fixed maturity securities	10,500,608	8,930,341
Securities available for sale:
Purchase - equity securities	(3,457,180)	(4,859,850)
Sales - equity securities	1,823,404	2,679,292
Purchase of short-term investments	(31,768,007)	(15,166,706)
Sales of short-term investments	38,731,918	2,278,147
Purchases of restricted assets	(1,027,533)	(2,818,985)
Changes in assets for perpetual care trusts	(217,025)	(173,172)
Amount received for perpetual care trusts	59,472	97,207
Mortgage, policy, and other loans made	(272,667,236)	(212,307,189)
Payments received for mortgage, policy and other loans	278,315,445	177,332,341
Purchase of property and equipment	(2,286,053)	(1,093,783)
Sale of property and equipment	2,899,322
Purchase of real estate	(11,652,845)	(10,484,664)
Sale of real estate	11,194,483	3,491,378
Cash received from reinsurance	24,020,215	13,553,864
Cash paid for purchase of subsidiaries, net of cash acquired		(3,000,000)
Net cash provided by (used in) investing activities	35,602,196	(42,631,622)
Cash flows from financing activities:
Annuity contract receipts	7,793,428	7,735,783
Annuity contract withdrawals	(9,249,285)	(11,079,789)
Proceeds from stock options exercised	24,691	58,072
Repayment of bank loans on notes and contracts	(1,583,942)	(1,772,665)
Proceeds from borrowing on bank loans	12,130,898	5,646,518
Net cash provided by financing activities	9,115,790	587,919
Net change in cash and cash equivalents	41,040,609	(5,652,558)
Cash and cash equivalents at beginning of period	30,855,320	38,203,164
Cash and cash equivalents at end of period	71,895,929	32,550,606
Non Cash Investing and Financing Activities
Mortgage loans foreclosed into real estate	$ 2,659,985	$ 886,576

1) Basis of Presentation

1) Basis of Presentation	9 Months Ended
	Sep. 30, 2015
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, 2014, 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, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. 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.

2) Recent Accounting Pronouncem

2) Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
Notes
2) Recent Accounting Pronouncements	2) Recent Accounting Pronouncements Accounting Standards Update (“ASU”) No. 2014-11: "Transfers and Servicing - Repurchase to Maturity Transactions, Repurchase Financings, and Disclosures (Topic 860)" – 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. This new guidance has not and will not have a significant impact on the Company’s results of operations or financial position. ASU No. 2014-09: “Revenue from Contracts with Customers (Topic 606)” - 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, 2017. The Company is in the process of evaluating the potential impact of this standard, which is not expected to be material to the Company’s results of operations or financial position. The Company has reviewed other recent accounting pronouncements and has determined that they will not significantly impact the Company’s results of operations or financial position.

3) Investments

3) Investments	9 Months Ended
	Sep. 30, 2015
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, 2015 are summarized as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value September 30, 2015 Fixed maturity securities held to maturity carried at amortized cost: Bonds: U.S. Treasury securities and obligations of U.S. Government agencies $ 1,860,138 $ 340,699 $ - $ 2,200,837 Obligations of states and political subdivisions 1,808,183 220,697 (2,624) 2,026,256 Corporate securities including public utilities 126,024,969 11,952,326 (3,505,213) 134,472,082 Mortgage-backed securities 3,052,011 241,761 (6,855) 3,286,917 Redeemable preferred stock 612,023 27,529 - 639,552 Total fixed maturity securities held to maturity $ 133,357,324 $ 12,783,012 $ (3,514,692) $ 142,625,644 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value September 30, 2015 Equity securities available for sale at estimated fair value: Common stock: Industrial, miscellaneous and all other $ 9,012,605 $ 88,504 $ (1,892,383) $ 7,208,726 Total equity securities available for sale at estimated fair value $ 9,012,605 $ 88,504 $ (1,892,383) $ 7,208,726 Mortgage loans on real estate and construction loans held for investment at amortized cost: Residential $ 48,076,245 Residential construction 28,862,660 Commercial 36,601,043 Less: Allowance for loan losses (1,856,694) Total mortgage loans on real estate and construction loans held for investment $ 111,683,254 Real estate held for investment - net of depreciation $ 112,661,696 Policy and other loans at amortized cost: Policy loans $ 7,038,768 Other loans 28,311,594 Less: Allowance for doubtful accounts (888,807) Total policy and other loans at amortized cost $ 34,461,555 Short-term investments at amortized cost $ 19,980,369 The Company’s investments in fixed maturity securities held to maturity and equity securities available for sale as of December 31, 2014 are summarized as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2014 Fixed maturity securities held to maturity carried at amortized cost: Bonds: U.S. Treasury securities and obligations of U.S. Government agencies $ 1,873,146 $ 345,715 $ - $ 2,218,861 Obligations of states and political subdivisions 1,736,489 221,893 (5,278) 1,953,104 Corporate securities including public utilities 126,533,483 15,841,536 (980,357) 141,394,662 Mortgage-backed securities 4,263,206 305,381 (11,894) 4,556,693 Redeemable preferred stock 612,023 22,032 - 634,055 Total fixed maturity securities held to maturity $ 135,018,347 $ 16,736,557 $ (997,529) $ 150,757,375 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2014 Equity securities available for sale at estimated fair value: Common stock: Industrial, miscellaneous and all other $ 7,179,010 $ 393,873 $ (820,133) $ 6,752,750 Total securities available for sale carried at estimated fair value $ 7,179,010 $ 393,873 $ (820,133) $ 6,752,750 Mortgage loans on real estate and construction loans held for investment at amortized cost: Residential $ 53,592,433 Residential construction 33,071,938 Commercial 35,388,756 Less: Allowance for loan losses (2,003,055) Total mortgage loans on real estate and construction loans held for investment $ 120,050,072 Real estate held for investment - net of depreciation $ 111,411,351 Policy and other loans at amortized cost: Policy loans $ 7,011,012 Other loans 27,807,829 Less: Allowance for doubtful accounts (693,413) Total policy and other loans at amortized cost $ 34,125,428 Short-term investments at amortized cost $ 27,059,495 Fixed Maturity Securities The following tables summarize unrealized losses on fixed maturity securities, which are carried at amortized cost, at September 30, 2015 and December 31, 2014. 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 June 30, 2015 Obligations of states and political subdivisions $ - 0 $ 2,624 1 $ 2,624 Corporate securities including public utilities 2,798,201 74 707,012 12 3,505,213 Mortgage-backed securities 6,855 2 - 0 6,855 Total unrealized losses $ 2,805,056 76 $ 709,636 13 $ 3,514,692 Fair Value $ 23,917,114 $ 2,327,984 $ 26,245,098 At December 31, 2014 Obligations of states and political subdivisions $ - 0 $ 5,278 1 $ 5,278 Corporate securities including public utilities 548,310 21 432,047 11 980,357 Mortgage-backed securities 3,966 1 7,928 1 11,894 Total unrealized losses $ 552,276 22 $ 445,253 13 $ 997,529 Fair Value $ 7,081,352 $ 2,777,587 $ 9,858,939 As of September 30, 2015, the average market value of the related fixed maturities was 88.2% of amortized cost and the average market value was 90.8% of amortized cost as of December 31, 2014. During the three months ended September 30, 2015 and 2014 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, 2015 and 2014 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, 2015 and December 31, 2014. 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, 2015 Industrial, miscellaneous and all other $ 973,583 273 $ 918,800 66 $ 1,892,383 Total unrealized losses $ 973,583 273 $ 918,800 66 $ 1,892,383 Fair Value $ 4,723,167 $ 802,547 $ 5,525,714 At December 31, 2014 Industrial, miscellaneous and all other $ 327,389 138 $ 492,744 27 $ 820,133 Total unrealized losses $ 327,389 138 $ 492,744 27 $ 820,133 Fair Value $ 2,162,425 $ 676,706 $ 2,839,131 As of September 30, 2015, the average market value of the equity securities available for sale was 74.5% of the original investment and the average market value was 77.6% of the original investment as of December 31, 2014. 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 months ended September 30, 2015 and 2014, an other than temporary decline in the fair value resulted in the recognition of an impairment loss on equity securities of $26,290 and $-0-, respectively, and for the nine months ended September 30, 2015 and 2014, an other than temporary decline in the fair value resulted in the recognition of an impairment loss on equity securities of $77,497 and $-0-, respectively. 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, 2015, 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 2015 $ 749,780 $ 753,840 Due in 2016 through 2019 30,426,998 33,178,552 Due in 2020 through 2024 28,926,814 30,445,969 Due after 2024 69,589,698 74,320,814 Mortgage-backed securities 3,052,011 3,286,917 Redeemable preferred stock 612,023 639,552 Total held to maturity $ 133,357,324 $ 142,625,644 The amortized cost and estimated fair value of available for sale securities at September 30, 2015, 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. Cost Estimated Fair Value Available for Sale: Common stock $ 9,012,605 $ 7,208,726 Total available for sale $ 9,012,605 $ 7,208,726 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 2015 2014 2015 2014 Fixed maturity securities held to maturity: Gross realized gains $ 15,279 $ 211,403 $ 374,337 $ 258,951 Gross realized losses (22,796) (66,459) (82,166) (68,742) Other than temporary impairments (30,000) (30,000) (90,000) (90,000) Securities available for sale: Gross realized gains 35,009 77,386 165,018 214,303 Gross realized losses (2,521) (27,651) (3,536) (38,918) Other than temporary impairments (26,290) - (77,497) - Other assets: Gross realized gains 1,731,939 352,151 2,187,271 720,082 Gross realized losses (404,132) (116,920) (367,306) (116,921) Other than temporary impairments - (353,776) - (353,776) Total $ 1,296,488 $ 46,134 $ 2,106,121 $ 524,979 The net carrying amount of held to maturity securities sold was $2,543,312 and $1,599,184 for the nine months ended September 30, 2015 and 2014, respectively. The net realized gain related to these sales was $330,373 and $18,051 for the nine months ended September 30, 2015 and 2014, respectively. 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, 2015, 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 2015 2014 2015 2014 Fixed maturity securities $ 2,014,014 $ 2,036,407 $ 6,139,698 $ 6,212,852 Equity securities 61,238 73,110 175,954 163,109 Mortgage loans on real estate 1,754,852 2,216,711 5,396,016 5,605,882 Real estate 2,320,242 2,125,374 6,674,594 6,416,939 Policy loans 219,916 195,138 597,101 574,393 Short-term investments, principally gains on sale of mortgage loans and other 4,777,404 3,831,378 13,741,796 8,512,479 Gross investment income 11,147,666 10,478,118 32,725,159 27,485,654 Investment expenses (2,715,252) (2,286,156) (7,879,228) (6,943,905) Net investment income $ 8,432,414 $ 8,191,962 $ 24,845,931 $ 20,541,749 Net investment income includes income earned by the restricted assets of the cemeteries and mortuaries of $119,963 and $96,370 for the three months ended September 30, 2015 and 2014, respectively, and $306,449 and $268,729 for the nine months ended September 30, 2015 and 2014, respectively. Net investment income on real estate consists primarily of rental revenue. 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 $9,065,847 at September 30, 2015 and $8,886,001 at December 31, 2014. 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 nine 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 , the Company had , of its mortgage loans from borrowers located in the states of Utah, California Florida respectively. The mortgage loans on real estate balances on the consolidated balance sheet are reflected net of an allowance for loan losses of and $ at and December 31, 2014, respectively. 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 September 30, 2015 Allowance for credit losses: Beginning balance - January 1, 2015 $ 187,129 $ 1,715,812 $ 100,114 $ 2,003,055 Charge-offs - - - - Provision - (146,361) - (146,361) Ending balance -September 30, 2015 $ 187,129 $ 1,569,451 $ 100,114 $ 1,856,694 Ending balance: individually evaluated for impairment $ - $ 198,818 $ - $ 198,818 Ending balance: collectively evaluated for impairment $ 187,129 $ 1,370,634 $ 100,114 $ 1,657,877 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - Mortgage loans: Ending balance $ 36,601,043 $ 48,076,245 $ 28,862,660 $ 113,539,948 Ending balance: individually evaluated for impairment $ - $ 2,989,318 $ - $ 2,989,318 Ending balance: collectively evaluated for impairment $ 36,601,043 $ 45,086,928 $ 28,862,660 $ 110,550,631 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - December 31, 2014 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 - 389,409 - 389,409 Ending balance - December 31, 2014 $ 187,129 $ 1,715,812 $ 100,114 $ 2,003,055 Ending balance: individually evaluated for impairment $ - $ 153,446 $ - $ 153,446 Ending balance: collectively evaluated for impairment $ 187,129 $ 1,562,366 $ 100,114 $ 1,849,609 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - Mortgage loans: Ending balance $ 35,388,756 $ 53,592,433 $ 33,071,938 $ 122,053,127 Ending balance: individually evaluated for impairment $ - $ 1,556,182 $ 414,499 $ 1,970,681 Ending balance: collectively evaluated for impairment $ 35,388,756 $ 52,036,251 $ 32,657,439 $ 120,082,446 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 September 30, 2015 Commercial $ - $ - $ - $ - $ - $ 36,601,043 $ 36,601,043 $ (187,129) $ 36,413,914 Residential 1,183,084 960,999 2,207,683 2,989,318 7,341,084 40,735,161 48,076,245 (1,569,451) 46,506,794 Residential Construction - - 64,895 - 64,895 28,797,765 28,862,660 (100,114) 28,762,546 Total $ 1,183,084 $ 960,999 $ 2,272,578 $ 2,989,318 $ 7,405,979 $ 106,133,969 $ 113,539,948 $ (1,856,694) $ 111,683,254 December 31, 2014 Commercial $ - $ - $ - $ - $ - $ 35,388,756 $ 35,388,756 $ (187,129) $ 35,201,627 Residential 1,631,142 1,174,516 5,464,901 1,556,182 9,826,741 43,765,692 53,592,433 (1,715,812) 51,876,621 Residential Construction - - 64,895 414,499 479,394 32,592,544 33,071,938 (100,114) 32,971,824 Total $ 1,631,142 $ 1,174,516 $ 5,529,796 $ 1,970,681 $ 10,306,135 $ 111,746,992 $ 122,053,127 $ (2,003,055) $ 120,050,072 (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 September 30, 2015 With no related allowance recorded: Commercial $ - $ - $ - $ - $ - Residential - - - - - Residential construction - - - - - With an allowance recorded: Commercial $ - $ - $ - $ - $ - Residential 2,989,318 2,989,318 198,818 2,989,318 - Residential construction - - - - - Total: Commercial $ - $ - $ - $ - $ - Residential 2,989,318 2,989,318 198,818 2,989,318 - Residential construction - - - - - December 31, 2014 With no related allowance recorded: Commercial $ - $ - $ - $ - $ - Residential - - - - - Residential construction 414,499 414,499 - 414,499 - With an allowance recorded: Commercial $ - $ - $ - $ - $ - Residential 1,556,182 1,556,182 153,446 1,556,182 - Residential construction - - - - - Total: Commercial $ - $ - $ - $ - $ - Residential 1,556,182 1,556,182 153,446 1,556,182 - Residential construction 414,499 414,499 - 414,499 - 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 September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Performing $ 36,601,043 $ 35,388,756 $ 42,879,244 $ 46,571,350 $ 28,797,765 $ 32,592,544 $ 108,278,052 $ 114,552,650 Nonperforming - - 5,197,001 7,021,083 64,895 479,394 5,261,896 7,500,477 Total $ 36,601,043 $ 35,388,756 $ 48,076,245 $ 53,592,433 $ 28,862,660 $ 33,071,938 $ 113,539,948 $ 122,053,127 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 $571,000 and $535,000 as of September 30, 2015 and December 31, 2014, 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 2015 As of December 31 2014 Residential $ 5,197,001 $ 7,021,083 Residential construction 64,895 479,394 Total $ 5,261,896 $ 7,500,477 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 Repurchase demand Indemnification demand 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 2015 As of December 31 2014 Balance, beginning of period $ 1,718,150 $ 5,506,532 Provisions for losses 4,673,991 3,053,403 Charge-offs (640,990) (6,841,785) Balance, end of period $ 5,751,151 $ 1,718,150 The Company believes the loan loss reserve represents probable loan losses incurred as of the balance sheet date. Actual loan loss experience could change, in the near-term, from the established reserve based upon claims that could be asserted by third party investors. SecurityNational Mortgage believes there is potential to resolve any 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) Stock-based Compensation

4) Stock-based Compensation	9 Months Ended
	Sep. 30, 2015
Notes
4) Stock-based Compensation	4) Stock-Based Compensation The Company has four fixed option plans (the “2003 Plan”, the “2006 Director Plan”, the “2013 Plan” and the “2014 Director Plan”). Compensation expense for options issued of $88,510 and $108,872 has been recognized for these plans for the three months ended September 30, 2015 and 2014, respectively, and $299,986 and $237,398 for the nine months ended September 30, 2015 and 2014, respectively. As of September 30, 2015, the total unrecognized compensation expense related to the options issued in December 2014 was $61,645 , which is expected to be recognized over the vesting period of one year. At the Annual Meeting of Stockholders of the Company, held on July 1, 2015, the Company’s stockholders approved an amendment to the Company’s “2013 Plan” to authorize an additional 450,000 shares of Class A common stock to be available for issuance under the plan, of which up to 200,000 shares of Class A common shares may be issued as up to 200,000 shares of Class C common stock. 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, 2015, and the changes during the nine months ended September 30, 2015, 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, 2014 512,795 $ 3.20 691,591 $ 2.00 Granted - - Exercised (23,820) 1.85 (114,023) 2.14 Cancelled (8,846) 2.31 - Outstanding at September 30, 2015 480,129 $ 3.28 577,568 $ 2.62 As of September 30, 2015: Options exercisable 447,571 $ 3.17 550,693 $ 2.51 As of September 30, 2015: Available options for future grant 561,649 155,000 Weighted average contractual term of options outstanding at September 30, 2015 7.15 years 2.41 years Weighted average contractual term of options exercisable at September 30, 2015 7.00 years 2.35 years Aggregated intrinsic value of options outstanding at September 30, 2015 (1) $1,646,768 $2,363,921 Aggregated intrinsic value of options exercisable at September 30, 2015 (1) $1,583,605 $2,312,190 (1) The Company used a stock price of $6.71 as of September 30, 2015 to derive intrinsic value. 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 $ 2.41 508,656 $ 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 $ 2.75 558,656 $ 2.25 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, 2015 and 2014 was $532,418 and $133,141 , respectively.

5) Earnings Per Share

5) Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Notes
5) Earnings Per Share	5) 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 2015 2014 2015 2014 Numerator: Net earnings $ 4,889,785 $ 2,137,822 $ 10,605,767 $ 4,900,733 Denominator: Basic weighted-average shares outstanding 13,146,617 12,455,314 13,023,962 12,487,646 Effect of dilutive securities: Employee stock options 628,485 469,451 574,224 443,704 Diluted weighted-average shares outstanding 13,775,102 12,924,765 13,598,186 12,931,350 Basic net earnings per share $0.37 $0.17 $0.81 $0.39 Diluted net earnings per share $0.35 $0.17 $0.78 $0.38 Net earnings per share amounts have been adjusted for the effect of annual stock dividends. For the three and nine months ended September 30, 2015 and 2014, there were -0- and 56,912 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.

6) Business Segments

6) Business Segments	9 Months Ended
	Sep. 30, 2015
Notes
6) Business Segments	6) 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, 2014. 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 September 30, 2015 Revenues from external customers $ 23,148,090 $ 3,123,168 $ 49,223,428 $ - $ 75,494,686 Intersegment revenues 3,206,703 292,445 76,159 (3,575,307) - Segment profit before income taxes 3,655,998 250,111 3,888,291 - 7,794,400 For the Three Months Ended September 30, 2014 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 Nine Months Ended September 30, 2015 Revenues from external customers $ 65,610,558 $ 9,436,496 $ 140,537,879 $ - $ 215,584,933 Intersegment revenues 8,884,390 910,016 256,950 (10,051,356) - Segment profit before income taxes 7,175,036 811,261 9,038,439 - 17,024,736 Identifiable Assets 709,683,255 100,760,704 71,954,237 (133,002,358) 749,395,838 Goodwill 2,765,570 - - - 2,765,570 For the Nine Months Ended September 30, 2014 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

7)_ Fair Value of Financial Ins

7): Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2015
Notes
7): Fair Value of Financial Instruments	7) 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: Level 2: 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: 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 of the Notes to Condensed Consolidated Statements. 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 and Put Options : The Company uses quoted market prices to value its call and put 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 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 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 condensed consolidated balance sheet for these financial instruments approximate their fair values. Real Estate Held for Investment : 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 used market data based upon its real estate operation experience and projected the present value of the net rental income over seven years. The Company used 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 Other 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’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, 2015. 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 $ 7,208,726 $ 7,208,726 $ - $ - Total securities available for sale $ 7,208,726 $ 7,208,726 $ - $ - Restricted assets of cemeteries and mortuaries $ 670,390 $ 670,390 $ - $ - Cemetery perpetual care trust investments 609,303 609,303 - - Derivatives - interest rate lock commitments 4,756,170 - - 4,756,170 Total assets accounted for at fair value on a recurring basis $ 13,244,589 $ 8,488,419 $ - $ 4,756,170 Liabilities accounted for at fair value on a recurring basis Policyholder account balances $ (50,915,543) $ - $ - $ (50,915,543) Future policy benefits - annuities (63,289,669) - - (63,289,669) Derivatives - call options (6,715) (6,715) - - - put options (103,684) (103,684) - - - interest rate lock commitments (518,227) - - (518,227) Total liabilities accounted for at fair value on a recurring basis $ (114,833,838) $ (110,399) $ - $ (114,723,439) 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, 2014 $ (45,310,699) $ (65,540,985) $ 1,929,851 $ (31,370) Total gains (losses): Included in earnings (5,604,844) 2,251,316 - - Included in other comprehensive income (loss) - - 2,308,092 31,370 Balance - September 30, 2015 $ (50,915,543) $ (63,289,669) $ 4,237,943 $ - 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 condensed consolidated balance sheet at September 30, 2015. 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 $ 4,674,218 - - $ 4,674,218 Mortgage loans on real estate 320,000 - - 320,000 Total assets accounted for at fair value on a nonrecurring basis $ 4,994,218 $ - $ - $ 4,994,218 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, 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 $ 6,752,750 $ 6,752,750 $ - $ - Total securities available for sale $ 6,752,750 $ 6,752,750 $ - $ - Restricted assets of cemeteries and mortuaries $ 715,202 $ 715,202 $ - $ - Cemetery perpetual care trust investments 695,235 695,235 - - Derivatives - interest rate lock commitments 2,111,529 - - 2,111,529 Total assets accounted for at fair value on a recurring basis $ 10,274,716 $ 8,163,187 $ - $ 2,111,529 Liabilities accounted for at fair value on a recurring basis Policyholder account balances $ (45,310,699) $ - $ - $ (45,310,699) Future policy benefits - annuities (65,540,985) - - (65,540,985) Derivatives - bank loan interest rate swaps (31,370) - - (31,370) - call options (116,036) (116,036) - - - put options (11,867) (11,867) - - - interest rate lock commitment (181,678) - - (181,678) Total liabilities accounted for at fair value on a recurring basis $ (111,192,635) $ (127,903) $ - $ (111,064,732) 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, 2013 $ (48,000,668) $ (65,052,928) $ 1,487,908 $ (58,310) Total gains (losses): Included in earnings 2,689,969 (488,057) - - Included in other comprehensive income - - 441,943 26,940 Balance - December 31, 2014 $ (45,310,699) $ (65,540,985) $ 1,929,851 $ (31,370) 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 condensed consolidated balance sheet at December 31, 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 $ 3,741,381 - - $ 3,741,381 Real estate held for investment 53,500 - - 53,500 Total assets accounted for at fair value on a nonrecurring basis $ 3,794,881 $ - $ - $ 3,794,881 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, 2015 and December 31, 2014. The estimated fair value amounts for September 30, 2015 and December 31, 2014 have been measured as of period-end, and have not been reevaluated or updated for purposes of these Condensed 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, 2015: Carrying Value Level 1 Level 2 Level 3 Total Estimated Fair Value Assets Mortgage loans: Residential $ 46,506,794 $ - $ - $ 49,579,568 $ 49,579,568 Residential construction 28,762,546 - - 28,762,546 28,762,546 Commercial 36,413,914 - - 38,062,674 38,062,674 Mortgage loans, net $ 111,683,254 $ - $ - $ 116,404,788 $ 116,404,788 Policy loans 7,038,768 - - 7,038,768 7,038,768 Other loans 27,422,787 - - 27,422,787 27,422,787 Short-term investments 19,980,369 - - 19,980,369 19,980,369 Liabilities Bank and other loans payable $ (39,535,964) $ - $ - $ (39,535,964) $ (39,535,964) 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, 2014: Carrying Value Level 1 Level 2 Level 3 Total Estimated Fair Value Assets Mortgage loans: Residential $ 51,876,621 $ - $ - $ 55,247,638 $ 55,247,638 Residential construction 32,971,824 - - 32,971,824 32,971,824 Commercial 35,201,627 - - 36,829,266 36,829,266 Mortgage loans, net $ 120,050,072 $ - $ - $ 125,048,728 $ 125,048,728 Policy loans 7,011,012 - - 7,011,012 7,011,012 Other loans 27,114,416 - - 27,114,416 27,114,416 Short-term investments 27,059,495 - - 27,059,495 27,059,495 Liabilities Bank and other loans payable $ (28,989,008) $ - $ - $ (28,989,008) $ (28,989,008) 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, 2014 and 2015 is determined from pricing of similar loans that were sold in 2013 and 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.

8) Allowance For Doubtful Accou

8) Allowance For Doubtful Accounts and Loan Losses and Impaired Loans	9 Months Ended
	Sep. 30, 2015
Notes
8) Allowance For Doubtful Accounts and Loan Losses and Impaired Loans	8) 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. Receivables are the result of cemetery and mortuary operations, mortgage loan operations and life insurance operations. The allowance 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 provides allowances for losses on its mortgage loans held for investment through an allowance for loan losses. 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 similar receivables. 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. The allowance for losses on mortgage loans held for investment 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.

9) Derivative Commitments

9) Derivative Commitments	9 Months Ended
	Sep. 30, 2015
Notes
9) Derivative Commitments	9) 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. 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. 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 has adopted the selling of put options as a means of generating cash or purchasing equity securities at lower than current market prices. 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 and put options is adjusted to fair value at each reporting date. The fair value of outstanding call and put options as of September 30, 2015 and December 31, 2014 was $110,399 and $127,903, 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. The following table shows the fair value of derivatives as of September 30, 2015 and December 31, 2014. Fair Value of Derivative Instruments Asset Derivatives Liability Derivatives September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 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 $4,756,170 other assets $2,111,529 Other liabilities $ 518,227 Other liabilities $181,678 Call options -- -- -- -- Other liabilities 6,715 Other liabilities 116,036 Put options -- -- -- -- Other liabilities 103,684 Other liabilities 11,867 Interest rate swaps -- -- -- -- Bank loans payable - Bank loans payable 31,370 Total $4,756,170 $2,111,529 $ 628,626 $340,951 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: 2015 2014 2015 2014 Interest Rate Lock Commitments $ (1,431,809) $ (713,276) $ 2,308,092 $ 525,136 Interest Rate Swaps 22,659 9,655 31,370 21,955 Sub Total (1,409,150) (703,621) 2,339,462 547,091 Tax Effect (549,569) (274,412) 912,390 213,366 Total $ (859,581) $ (429,209) $ 1,427,072 $ 333,725

10) Reinsurance, Commitments an

10) Reinsurance, Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Notes
10) Reinsurance, Commitments and Contingencies	10) Reinsurance, Commitments and Contingencies Reinsurance Reinsurance Agreement with North America Life Insurance Company On May 8, 2015, the Company, through its wholly owned subsidiary, Security National Life, signed a paid-up business offer under the coinsurance agreement effective December 1, 2010 to reinsure certain life insurance policies from North America Life Insurance Company (“North America Life”). Pursuant to the paid-up business offer, North America Life ceded and transferred to Security National Life all contractual obligations and risks under the coinsured policies. Security National Life paid a ceding commission to North America Life in the amount of $281,908. As a result of the ceding commission, North America Life transferred $8,900,282 of cash and $9,182,190 in statutory reserves, or liabilities, to Security National Life. Reinsurance Agreement with American Republic Insurance Company On February 11, 2015, the Company, through its wholly owned subsidiary, Security National Life, signed a coinsurance agreement to reinsure certain life insurance policies from American Republic Insurance Company (“American Republic”). The policies were previously reinsured by North America Life under a coinsurance agreement between World Insurance Company (“World Insurance”) and North America Life entered into on July 22, 2009 which was commuted. World Insurance was subsequently purchased by and merged into American Republic. The current coinsurance agreement is between Security National Life and American Republic and became effective on January 1, 2015. As part of the coinsurance agreement, American Republic transferred all contractual obligations and risks to Security National Life and Security National Life took control of $15,004,771 of assets in a trust account held by Texas Capital Bank as the trustee. Mortgage Loan Loss Settlements The mortgage industry has seen potential loan losses increase. Future loan losses are extremely difficult to estimate, especially in the current market. However, management believes that the Company’s reserve methodology and its current practice of property preservation allow it to estimate its losses on loans sold. The amounts accrued for loan losses for the three months ended September 30, 2015 and 2014 were $1,755,000 and $1,063,000 , respectively, and for the nine months ended September 30, 2015 and 2014 were $4,674,000 and $2,007,000 , respectively. The estimated liability for indemnification losses is included in other liabilities and accrued expenses and, as of September 30, 2015 and December 31, 2014, the balances were $5,751,000 and $1,718,000 , respectively. 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 $5,751,000 as of September 30, 2015 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 the 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 brought against EMC Mortgage. Inquiry Regarding FHA Insured Loans SecurityNational Mortgage has been cooperating with the U.S. Department of Justice and the Office of the Inspector General for the Department of Housing and Urban Development (HUD) in a civil investigation regarding compliance with requirements relating to certain loans insured by the Federal Housing Administration (FHA). No demand has been made and SecurityNational Mortgage has not established a liability for this matter absent a specific demand because it is not able to estimate a range of reasonably potential loss due to significant uncertainties regarding: the absence of any specific demand, the potential remedies, including possible defenses, and the lack of information concerning the performance of its FHA insured originations, the majority of which SecurityNational Mortgage does not service. The investigation has focused on loans originated by SecurityNational Mortgage on or after January 1, 2006. The FHA mortgage loans that SecurityNational Mortgage originated between January 1, 2006 and May 21, 2013 total approximately 45,900 loans with an original principal balance of approximately $7.9 billion. Mortgage Loan Loss Litigation For a description of the litigation involving SecurityNational Mortgage and Lehman Brothers and Aurora Loan Services, reference is to Part II, Item 1. Legal Proceedings. Other Contingencies and Commitments The Company has entered into commitments to fund new residential construction loans. As of September 30, 2015, the Company’s commitments were $48,354,000 for these loans of which $28,863,000 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, 2015). 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.

11) Mortgage Servicing Rights

11) Mortgage Servicing Rights	9 Months Ended
	Sep. 30, 2015
Notes
11) Mortgage Servicing Rights	11) Mortgage Servicing Rights The following is a summary of the MSR activity for the periods presented. As of September 30 2015 As of December 31 2014 Amortized cost: Balance before valuation allowance at beginning of year $ 7,834,747 $ 4,844,101 MSRs proceeds from loan sales 4,674,218 3,741,381 Amortization (934,626) (750,735) Application of valuation allowance to write down MSRs with other than temporary impairment - - Balance before valuation allowance at year end $ 11,574,339 $ 7,834,747 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 $ 11,574,339 $ 7,834,747 Estimated fair value of MSRs at end of period $ 12,093,178 $ 8,485,570 The Company reports these MSRs pursuant to the accounting policy discussed in Note 7.

12) Mergers, Acquisitions and D

12) Mergers, Acquisitions and Dispositions Disclosures	9 Months Ended
	Sep. 30, 2015
Notes
12) Mergers, Acquisitions and Dispositions Disclosures	12) 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. 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 nine month periods ended September 30, 2015 and 2014. 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) 2015 2014 2015 2014 Total revenues $ 75,494,686 $ 61,725,792 $ 215,584,933 $ 168,522,777 Net earnings $ 4,889,785 $ 2,137,822 $ 10,605,767 $ 5,142,490 Net earnings per Class A equivalent common share $ 0.37 $ 0.17 $ 0.81 $ 0.41 Net earnings per Class A equivalent common share assuming dilution $ 0.35 $ 0.17 $ 0.78 $ 0.40

1) Basis of Presentation_ Accou

1) Basis of Presentation: Accounting Policy (Policies)	9 Months Ended
	Sep. 30, 2015
Policies
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, 2014, 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, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.

1) Basis of Presentation_ Use o

1) Basis of Presentation: Use of Estimates Policy (Policies)	9 Months Ended
	Sep. 30, 2015
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.

2) Recent Accounting Pronounc22

2) Recent Accounting Pronouncements: New Accounting Pronouncements, Policy (Policies)	9 Months Ended
	Sep. 30, 2015
Policies
New Accounting Pronouncements, Policy	Accounting Standards Update (“ASU”) No. 2014-11: "Transfers and Servicing - Repurchase to Maturity Transactions, Repurchase Financings, and Disclosures (Topic 860)" – 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. This new guidance has not and will not have a significant impact on the Company’s results of operations or financial position. ASU No. 2014-09: “Revenue from Contracts with Customers (Topic 606)” - 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, 2017. The Company is in the process of evaluating the potential impact of this standard, which is not expected to be material to the Company’s results of operations or financial position. The Company has reviewed other recent accounting pronouncements and has determined that they will not significantly impact the Company’s results of operations or financial position.

3) Investments_ Held-to-maturit

3) Investments: Held-to-maturity Securities (Tables)	9 Months Ended
	Sep. 30, 2015
Held-to-maturity Securities	Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value September 30, 2015 Fixed maturity securities held to maturity carried at amortized cost: Bonds: U.S. Treasury securities and obligations of U.S. Government agencies $ 1,860,138 $ 340,699 $ - $ 2,200,837 Obligations of states and political subdivisions 1,808,183 220,697 (2,624) 2,026,256 Corporate securities including public utilities 126,024,969 11,952,326 (3,505,213) 134,472,082 Mortgage-backed securities 3,052,011 241,761 (6,855) 3,286,917 Redeemable preferred stock 612,023 27,529 - 639,552 Total fixed maturity securities held to maturity $ 133,357,324 $ 12,783,012 $ (3,514,692) $ 142,625,644
AsOfDecember312014Member
Held-to-maturity Securities	Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2014 Fixed maturity securities held to maturity carried at amortized cost: Bonds: U.S. Treasury securities and obligations of U.S. Government agencies $ 1,873,146 $ 345,715 $ - $ 2,218,861 Obligations of states and political subdivisions 1,736,489 221,893 (5,278) 1,953,104 Corporate securities including public utilities 126,533,483 15,841,536 (980,357) 141,394,662 Mortgage-backed securities 4,263,206 305,381 (11,894) 4,556,693 Redeemable preferred stock 612,023 22,032 - 634,055 Total fixed maturity securities held to maturity $ 135,018,347 $ 16,736,557 $ (997,529) $ 150,757,375

3) Investments_ Available-for-s

3) Investments: Available-for-sale Securities (Tables)	9 Months Ended
	Sep. 30, 2015
Available-for-sale Securities	Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value September 30, 2015 Equity securities available for sale at estimated fair value: Common stock: Industrial, miscellaneous and all other $ 9,012,605 $ 88,504 $ (1,892,383) $ 7,208,726 Total equity securities available for sale at estimated fair value $ 9,012,605 $ 88,504 $ (1,892,383) $ 7,208,726 Mortgage loans on real estate and construction loans held for investment at amortized cost: Residential $ 48,076,245 Residential construction 28,862,660 Commercial 36,601,043 Less: Allowance for loan losses (1,856,694) Total mortgage loans on real estate and construction loans held for investment $ 111,683,254 Real estate held for investment - net of depreciation $ 112,661,696 Policy and other loans at amortized cost: Policy loans $ 7,038,768 Other loans 28,311,594 Less: Allowance for doubtful accounts (888,807) Total policy and other loans at amortized cost $ 34,461,555 Short-term investments at amortized cost $ 19,980,369
AsOfDecember312014Member
Available-for-sale Securities	Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2014 Equity securities available for sale at estimated fair value: Common stock: Industrial, miscellaneous and all other $ 7,179,010 $ 393,873 $ (820,133) $ 6,752,750 Total securities available for sale carried at estimated fair value $ 7,179,010 $ 393,873 $ (820,133) $ 6,752,750 Mortgage loans on real estate and construction loans held for investment at amortized cost: Residential $ 53,592,433 Residential construction 33,071,938 Commercial 35,388,756 Less: Allowance for loan losses (2,003,055) Total mortgage loans on real estate and construction loans held for investment $ 120,050,072 Real estate held for investment - net of depreciation $ 111,411,351 Policy and other loans at amortized cost: Policy loans $ 7,011,012 Other loans 27,807,829 Less: Allowance for doubtful accounts (693,413) Total policy and other loans at amortized cost $ 34,125,428 Short-term investments at amortized cost $ 27,059,495

3) Investments_ Schedule of Unr

3) Investments: Schedule of Unrealized Loss on Investments (Tables)	9 Months Ended
	Sep. 30, 2015
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 June 30, 2015 Obligations of states and political subdivisions $ - 0 $ 2,624 1 $ 2,624 Corporate securities including public utilities 2,798,201 74 707,012 12 3,505,213 Mortgage-backed securities 6,855 2 - 0 6,855 Total unrealized losses $ 2,805,056 76 $ 709,636 13 $ 3,514,692 Fair Value $ 23,917,114 $ 2,327,984 $ 26,245,098 At December 31, 2014 Obligations of states and political subdivisions $ - 0 $ 5,278 1 $ 5,278 Corporate securities including public utilities 548,310 21 432,047 11 980,357 Mortgage-backed securities 3,966 1 7,928 1 11,894 Total unrealized losses $ 552,276 22 $ 445,253 13 $ 997,529 Fair Value $ 7,081,352 $ 2,777,587 $ 9,858,939
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, 2015 Industrial, miscellaneous and all other $ 973,583 273 $ 918,800 66 $ 1,892,383 Total unrealized losses $ 973,583 273 $ 918,800 66 $ 1,892,383 Fair Value $ 4,723,167 $ 802,547 $ 5,525,714 At December 31, 2014 Industrial, miscellaneous and all other $ 327,389 138 $ 492,744 27 $ 820,133 Total unrealized losses $ 327,389 138 $ 492,744 27 $ 820,133 Fair Value $ 2,162,425 $ 676,706 $ 2,839,131

3) Investments_ Investments Cla

3) Investments: Investments Classified by Contractual Maturity Date (Tables)	9 Months Ended
	Sep. 30, 2015
Held-to-maturity Securities
Investments Classified by Contractual Maturity Date	Amortized Cost Estimated Fair Value Held to Maturity: Due in 2015 $ 749,780 $ 753,840 Due in 2016 through 2019 30,426,998 33,178,552 Due in 2020 through 2024 28,926,814 30,445,969 Due after 2024 69,589,698 74,320,814 Mortgage-backed securities 3,052,011 3,286,917 Redeemable preferred stock 612,023 639,552 Total held to maturity $ 133,357,324 $ 142,625,644
Available-for-sale Securities
Investments Classified by Contractual Maturity Date	Cost Estimated Fair Value Available for Sale: Common stock $ 9,012,605 $ 7,208,726 Total available for sale $ 9,012,605 $ 7,208,726

3) Investments_ Gain (Loss) on

3) Investments: Gain (Loss) on Investments (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Gain (Loss) on Investments	Three Months Ended September 30 Nine Months Ended September 30 2015 2014 2015 2014 Fixed maturity securities held to maturity: Gross realized gains $ 15,279 $ 211,403 $ 374,337 $ 258,951 Gross realized losses (22,796) (66,459) (82,166) (68,742) Other than temporary impairments (30,000) (30,000) (90,000) (90,000) Securities available for sale: Gross realized gains 35,009 77,386 165,018 214,303 Gross realized losses (2,521) (27,651) (3,536) (38,918) Other than temporary impairments (26,290) - (77,497) - Other assets: Gross realized gains 1,731,939 352,151 2,187,271 720,082 Gross realized losses (404,132) (116,920) (367,306) (116,921) Other than temporary impairments - (353,776) - (353,776) Total $ 1,296,488 $ 46,134 $ 2,106,121 $ 524,979

3) Investments_ Schedule of Maj

3) Investments: Schedule of Major categories of net investment income (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Major categories of net investment income	Three Months Ended September 30 Nine Months Ended September 30 2015 2014 2015 2014 Fixed maturity securities $ 2,014,014 $ 2,036,407 $ 6,139,698 $ 6,212,852 Equity securities 61,238 73,110 175,954 163,109 Mortgage loans on real estate 1,754,852 2,216,711 5,396,016 5,605,882 Real estate 2,320,242 2,125,374 6,674,594 6,416,939 Policy loans 219,916 195,138 597,101 574,393 Short-term investments, principally gains on sale of mortgage loans and other 4,777,404 3,831,378 13,741,796 8,512,479 Gross investment income 11,147,666 10,478,118 32,725,159 27,485,654 Investment expenses (2,715,252) (2,286,156) (7,879,228) (6,943,905) Net investment income $ 8,432,414 $ 8,191,962 $ 24,845,931 $ 20,541,749

3) Investments_ Schedule of All

3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Tables)	9 Months Ended
	Sep. 30, 2015
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 September 30, 2015 Allowance for credit losses: Beginning balance - January 1, 2015 $ 187,129 $ 1,715,812 $ 100,114 $ 2,003,055 Charge-offs - - - - Provision - (146,361) - (146,361) Ending balance -September 30, 2015 $ 187,129 $ 1,569,451 $ 100,114 $ 1,856,694 Ending balance: individually evaluated for impairment $ - $ 198,818 $ - $ 198,818 Ending balance: collectively evaluated for impairment $ 187,129 $ 1,370,634 $ 100,114 $ 1,657,877 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - Mortgage loans: Ending balance $ 36,601,043 $ 48,076,245 $ 28,862,660 $ 113,539,948 Ending balance: individually evaluated for impairment $ - $ 2,989,318 $ - $ 2,989,318 Ending balance: collectively evaluated for impairment $ 36,601,043 $ 45,086,928 $ 28,862,660 $ 110,550,631 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - December 31, 2014 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 - 389,409 - 389,409 Ending balance - December 31, 2014 $ 187,129 $ 1,715,812 $ 100,114 $ 2,003,055 Ending balance: individually evaluated for impairment $ - $ 153,446 $ - $ 153,446 Ending balance: collectively evaluated for impairment $ 187,129 $ 1,562,366 $ 100,114 $ 1,849,609 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - Mortgage loans: Ending balance $ 35,388,756 $ 53,592,433 $ 33,071,938 $ 122,053,127 Ending balance: individually evaluated for impairment $ - $ 1,556,182 $ 414,499 $ 1,970,681 Ending balance: collectively evaluated for impairment $ 35,388,756 $ 52,036,251 $ 32,657,439 $ 120,082,446 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ -

3) Investments_ Schedule of agi

3) Investments: Schedule of aging of mortgage loans (Tables)	9 Months Ended
	Sep. 30, 2015
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 September 30, 2015 Commercial $ - $ - $ - $ - $ - $ 36,601,043 $ 36,601,043 $ (187,129) $ 36,413,914 Residential 1,183,084 960,999 2,207,683 2,989,318 7,341,084 40,735,161 48,076,245 (1,569,451) 46,506,794 Residential Construction - - 64,895 - 64,895 28,797,765 28,862,660 (100,114) 28,762,546 Total $ 1,183,084 $ 960,999 $ 2,272,578 $ 2,989,318 $ 7,405,979 $ 106,133,969 $ 113,539,948 $ (1,856,694) $ 111,683,254 December 31, 2014 Commercial $ - $ - $ - $ - $ - $ 35,388,756 $ 35,388,756 $ (187,129) $ 35,201,627 Residential 1,631,142 1,174,516 5,464,901 1,556,182 9,826,741 43,765,692 53,592,433 (1,715,812) 51,876,621 Residential Construction - - 64,895 414,499 479,394 32,592,544 33,071,938 (100,114) 32,971,824 Total $ 1,631,142 $ 1,174,516 $ 5,529,796 $ 1,970,681 $ 10,306,135 $ 111,746,992 $ 122,053,127 $ (2,003,055) $ 120,050,072 (1) Interest income is not recognized on loans past due greater than 90 days or in foreclosure.

3) Investments_ Schedule of Imp

3) Investments: Schedule of Impaired Mortgage Loans (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Impaired Mortgage Loans	Impaired Loans Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized September 30, 2015 With no related allowance recorded: Commercial $ - $ - $ - $ - $ - Residential - - - - - Residential construction - - - - - With an allowance recorded: Commercial $ - $ - $ - $ - $ - Residential 2,989,318 2,989,318 198,818 2,989,318 - Residential construction - - - - - Total: Commercial $ - $ - $ - $ - $ - Residential 2,989,318 2,989,318 198,818 2,989,318 - Residential construction - - - - - December 31, 2014 With no related allowance recorded: Commercial $ - $ - $ - $ - $ - Residential - - - - - Residential construction 414,499 414,499 - 414,499 - With an allowance recorded: Commercial $ - $ - $ - $ - $ - Residential 1,556,182 1,556,182 153,446 1,556,182 - Residential construction - - - - - Total: Commercial $ - $ - $ - $ - $ - Residential 1,556,182 1,556,182 153,446 1,556,182 - Residential construction 414,499 414,499 - 414,499 -

3) Investments_ Schedule Of Cre

3) Investments: Schedule Of Credit Risk Of Mortgage Loans Based On Performance Status (Tables)	9 Months Ended
	Sep. 30, 2015
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 September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Performing $ 36,601,043 $ 35,388,756 $ 42,879,244 $ 46,571,350 $ 28,797,765 $ 32,592,544 $ 108,278,052 $ 114,552,650 Nonperforming - - 5,197,001 7,021,083 64,895 479,394 5,261,896 7,500,477 Total $ 36,601,043 $ 35,388,756 $ 48,076,245 $ 53,592,433 $ 28,862,660 $ 33,071,938 $ 113,539,948 $ 122,053,127

4) Stock-based Compensation_ Sc

4) Stock-based Compensation: Schedule of stock inventive plan changes (Tables)	9 Months Ended
	Sep. 30, 2015
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, 2014 512,795 $ 3.20 691,591 $ 2.00 Granted - - Exercised (23,820) 1.85 (114,023) 2.14 Cancelled (8,846) 2.31 - Outstanding at September 30, 2015 480,129 $ 3.28 577,568 $ 2.62 As of September 30, 2015: Options exercisable 447,571 $ 3.17 550,693 $ 2.51 As of September 30, 2015: Available options for future grant 561,649 155,000 Weighted average contractual term of options outstanding at September 30, 2015 7.15 years 2.41 years Weighted average contractual term of options exercisable at September 30, 2015 7.00 years 2.35 years Aggregated intrinsic value of options outstanding at September 30, 2015 (1) $1,646,768 $2,363,921 Aggregated intrinsic value of options exercisable at September 30, 2015 (1) $1,583,605 $2,312,190 (1) The Company used a stock price of $6.71 as of September 30, 2015 to derive intrinsic value. 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 $ 2.41 508,656 $ 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 $ 2.75 558,656 $ 2.25 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.

5) Earnings Per Share_ Schedule

5) Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended September 30 Nine Months Ended September 30 2015 2014 2015 2014 Numerator: Net earnings $ 4,889,785 $ 2,137,822 $ 10,605,767 $ 4,900,733 Denominator: Basic weighted-average shares outstanding 13,146,617 12,455,314 13,023,962 12,487,646 Effect of dilutive securities: Employee stock options 628,485 469,451 574,224 443,704 Diluted weighted-average shares outstanding 13,775,102 12,924,765 13,598,186 12,931,350 Basic net earnings per share $0.37 $0.17 $0.81 $0.39 Diluted net earnings per share $0.35 $0.17 $0.78 $0.38

6) Business Segments_ Schedule

6) Business Segments: Schedule of Revenues and Expenses by Reportable Segment (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Revenues and Expenses by Reportable Segment	Life Insurance Cemetery/ Mortuary Mortgage Eliminations Consolidated For the Three Months Ended September 30, 2015 Revenues from external customers $ 23,148,090 $ 3,123,168 $ 49,223,428 $ - $ 75,494,686 Intersegment revenues 3,206,703 292,445 76,159 (3,575,307) - Segment profit before income taxes 3,655,998 250,111 3,888,291 - 7,794,400 For the Three Months Ended September 30, 2014 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 Nine Months Ended September 30, 2015 Revenues from external customers $ 65,610,558 $ 9,436,496 $ 140,537,879 $ - $ 215,584,933 Intersegment revenues 8,884,390 910,016 256,950 (10,051,356) - Segment profit before income taxes 7,175,036 811,261 9,038,439 - 17,024,736 Identifiable Assets 709,683,255 100,760,704 71,954,237 (133,002,358) 749,395,838 Goodwill 2,765,570 - - - 2,765,570 For the Nine Months Ended September 30, 2014 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

7)_ Fair Value of Financial I36

7): Fair Value of Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Tables)	9 Months Ended
	Sep. 30, 2015
AsOfSeptember302015Member
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 $ 7,208,726 $ 7,208,726 $ - $ - Total securities available for sale $ 7,208,726 $ 7,208,726 $ - $ - Restricted assets of cemeteries and mortuaries $ 670,390 $ 670,390 $ - $ - Cemetery perpetual care trust investments 609,303 609,303 - - Derivatives - interest rate lock commitments 4,756,170 - - 4,756,170 Total assets accounted for at fair value on a recurring basis $ 13,244,589 $ 8,488,419 $ - $ 4,756,170 Liabilities accounted for at fair value on a recurring basis Policyholder account balances $ (50,915,543) $ - $ - $ (50,915,543) Future policy benefits - annuities (63,289,669) - - (63,289,669) Derivatives - call options (6,715) (6,715) - - - put options (103,684) (103,684) - - - interest rate lock commitments (518,227) - - (518,227) Total liabilities accounted for at fair value on a recurring basis $ (114,833,838) $ (110,399) $ - $ (114,723,439)
AsOfDecember312014Member
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 $ 6,752,750 $ 6,752,750 $ - $ - Total securities available for sale $ 6,752,750 $ 6,752,750 $ - $ - Restricted assets of cemeteries and mortuaries $ 715,202 $ 715,202 $ - $ - Cemetery perpetual care trust investments 695,235 695,235 - - Derivatives - interest rate lock commitments 2,111,529 - - 2,111,529 Total assets accounted for at fair value on a recurring basis $ 10,274,716 $ 8,163,187 $ - $ 2,111,529 Liabilities accounted for at fair value on a recurring basis Policyholder account balances $ (45,310,699) $ - $ - $ (45,310,699) Future policy benefits - annuities (65,540,985) - - (65,540,985) Derivatives - bank loan interest rate swaps (31,370) - - (31,370) - call options (116,036) (116,036) - - - put options (11,867) (11,867) - - - interest rate lock commitment (181,678) - - (181,678) Total liabilities accounted for at fair value on a recurring basis $ (111,192,635) $ (127,903) $ - $ (111,064,732)

7)_ Fair Value of Financial I37

7): 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, 2015
AsOfSeptember302015Member
Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs	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, 2014 $ (45,310,699) $ (65,540,985) $ 1,929,851 $ (31,370) Total gains (losses): Included in earnings (5,604,844) 2,251,316 - - Included in other comprehensive income (loss) - - 2,308,092 31,370 Balance - September 30, 2015 $ (50,915,543) $ (63,289,669) $ 4,237,943 $ -

7)_ Fair Value of Financial I38

7): Fair Value of Financial Instruments: Schedule of Fair Value Measurements, Nonrecurring (Tables)	9 Months Ended
	Sep. 30, 2015
AsOfSeptember302015Member
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 $ 4,674,218 - - $ 4,674,218 Mortgage loans on real estate 320,000 - - 320,000 Total assets accounted for at fair value on a nonrecurring basis $ 4,994,218 $ - $ - $ 4,994,218
AsOfDecember312014Member
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 $ 3,741,381 - - $ 3,741,381 Real estate held for investment 53,500 - - 53,500 Total assets accounted for at fair value on a nonrecurring basis $ 3,794,881 $ - $ - $ 3,794,881

7)_ Fair Value of Financial I39

7): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables)	9 Months Ended
	Sep. 30, 2015
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 $ 46,506,794 $ - $ - $ 49,579,568 $ 49,579,568 Residential construction 28,762,546 - - 28,762,546 28,762,546 Commercial 36,413,914 - - 38,062,674 38,062,674 Mortgage loans, net $ 111,683,254 $ - $ - $ 116,404,788 $ 116,404,788 Policy loans 7,038,768 - - 7,038,768 7,038,768 Other loans 27,422,787 - - 27,422,787 27,422,787 Short-term investments 19,980,369 - - 19,980,369 19,980,369 Liabilities Bank and other loans payable $ (39,535,964) $ - $ - $ (39,535,964) $ (39,535,964) 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, 2014: Carrying Value Level 1 Level 2 Level 3 Total Estimated Fair Value Assets Mortgage loans: Residential $ 51,876,621 $ - $ - $ 55,247,638 $ 55,247,638 Residential construction 32,971,824 - - 32,971,824 32,971,824 Commercial 35,201,627 - - 36,829,266 36,829,266 Mortgage loans, net $ 120,050,072 $ - $ - $ 125,048,728 $ 125,048,728 Policy loans 7,011,012 - - 7,011,012 7,011,012 Other loans 27,114,416 - - 27,114,416 27,114,416 Short-term investments 27,059,495 - - 27,059,495 27,059,495 Liabilities Bank and other loans payable $ (28,989,008) $ - $ - $ (28,989,008) $ (28,989,008)

9) Derivative Commitments_ Sche

9) Derivative Commitments: Schedule of Derivative Assets at Fair Value (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Derivative Assets at Fair Value	Fair Value of Derivative Instruments Asset Derivatives Liability Derivatives September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 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 $4,756,170 other assets $2,111,529 Other liabilities $ 518,227 Other liabilities $181,678 Call options -- -- -- -- Other liabilities 6,715 Other liabilities 116,036 Put options -- -- -- -- Other liabilities 103,684 Other liabilities 11,867 Interest rate swaps -- -- -- -- Bank loans payable - Bank loans payable 31,370 Total $4,756,170 $2,111,529 $ 628,626 $340,951

9) Derivative Commitments_ Sc41

9) Derivative Commitments: Schedule of Gains and Losses on Derivatives (Tables)	9 Months Ended
	Sep. 30, 2015
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: 2015 2014 2015 2014 Interest Rate Lock Commitments $ (1,431,809) $ (713,276) $ 2,308,092 $ 525,136 Interest Rate Swaps 22,659 9,655 31,370 21,955 Sub Total (1,409,150) (703,621) 2,339,462 547,091 Tax Effect (549,569) (274,412) 912,390 213,366 Total $ (859,581) $ (429,209) $ 1,427,072 $ 333,725

11) Mortgage Servicing Rights_

11) Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Mortgage Servicing Rights	As of September 30 2015 As of December 31 2014 Amortized cost: Balance before valuation allowance at beginning of year $ 7,834,747 $ 4,844,101 MSRs proceeds from loan sales 4,674,218 3,741,381 Amortization (934,626) (750,735) Application of valuation allowance to write down MSRs with other than temporary impairment - - Balance before valuation allowance at year end $ 11,574,339 $ 7,834,747 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 $ 11,574,339 $ 7,834,747 Estimated fair value of MSRs at end of period $ 12,093,178 $ 8,485,570

12) Mergers, Acquisitions and43

12) Mergers, Acquisitions and Dispositions Disclosures: Schedule of pro forma financial information (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of pro forma financial information	For the Three Months Ended September 30 (unaudited) For the Nine Months Ended September 30 (unaudited) 2015 2014 2015 2014 Total revenues $ 75,494,686 $ 61,725,792 $ 215,584,933 $ 168,522,777 Net earnings $ 4,889,785 $ 2,137,822 $ 10,605,767 $ 5,142,490 Net earnings per Class A equivalent common share $ 0.37 $ 0.17 $ 0.81 $ 0.41 Net earnings per Class A equivalent common share assuming dilution $ 0.35 $ 0.17 $ 0.78 $ 0.40

3) Investments_ Held-to-matur44

3) Investments: Held-to-maturity Securities (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
AmortizedCost	$ 133,357,324	$ 135,018,347
Held-to-maturity Securities, Unrecognized Holding Gain	12,783,012	16,736,557
Held-to-maturity Securities, Unrecognized Holding Loss	(3,514,692)	(997,529)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	142,625,644	150,757,375
US Treasury and Government
AmortizedCost	1,860,138	1,873,146
Held-to-maturity Securities, Unrecognized Holding Gain	340,699	345,715
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	2,200,837	2,218,861
US States and Political Subdivisions Debt Securities
AmortizedCost	1,808,183	1,736,489
Held-to-maturity Securities, Unrecognized Holding Gain	220,697	221,893
Held-to-maturity Securities, Unrecognized Holding Loss	(2,624)	(5,278)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	2,026,256	1,953,104
Corporate Debt Securities
AmortizedCost	126,024,969	126,533,483
Held-to-maturity Securities, Unrecognized Holding Gain	11,952,326	15,841,536
Held-to-maturity Securities, Unrecognized Holding Loss	(3,505,213)	(980,357)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	134,472,082	141,394,662
Collateralized Mortgage Backed Securities
AmortizedCost	3,052,011	4,263,206
Held-to-maturity Securities, Unrecognized Holding Gain	241,761	305,381
Held-to-maturity Securities, Unrecognized Holding Loss	(6,855)	(11,894)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	3,286,917	4,556,693
Redeemable Preferred Stock
AmortizedCost	612,023	612,023
Held-to-maturity Securities, Unrecognized Holding Gain	27,529	22,032
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	$ 639,552	$ 634,055

3) Investments_ Available-for45

3) Investments: Available-for-sale Securities (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Available-for-sale Securities, Amortized Cost Basis	$ 9,012,605
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	7,208,726
Mortgage loans on real estate and construction	111,683,254	$ 120,050,072
Mortgage loans on real estate and construction, allowance for losses	(1,856,694)	(2,003,055)
Real estate held for investment, net of depreciation	112,661,696	111,411,351
Loans held for sale policy loans	7,038,768	7,011,012
Other loans	28,311,594	27,807,829
Loans held for sale allowance for doubtful accounts	(888,807)	(693,413)
Total policy and other loans at amortized cost	34,461,555	34,125,428
Short-term investments at amortized cost	19,980,369	27,059,495
Residential Mortgage
Mortgage loans on real estate and construction	48,076,245	53,592,433
Residential Construction
Mortgage loans on real estate and construction	28,862,660	33,071,938
Commercial Loan
Mortgage loans on real estate and construction	36,601,043	35,388,756
Common Stock
Available-for-sale Securities, Amortized Cost Basis	9,012,605
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	7,208,726
Industrial, miscellaneous and all other equity securities
Available-for-sale Securities, Amortized Cost Basis	9,012,605	7,179,010
Available-for-sale Securities, Gross Unrealized Gain	88,504	393,873
AvailableForSaleSecuritiesGrossUnrealizedLosses	(1,892,383)	(820,133)
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	7,208,726	6,752,750
Equity Securities
Available-for-sale Securities, Amortized Cost Basis	9,012,605	7,179,010
Available-for-sale Securities, Gross Unrealized Gain	88,504	393,873
AvailableForSaleSecuritiesGrossUnrealizedLosses	(1,892,383)	(820,133)
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	$ 7,208,726	$ 6,752,750

3) Investments_ Schedule of U46

3) Investments: Schedule of Unrealized Loss on Investments (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Held-to-maturity Securities, Unrecognized Holding Loss	$ 3,514,692	$ 997,529
Fair Value	5,525,714	2,839,131
US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	2,624	5,278
Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	3,505,213	980,357
Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	6,855	11,894
Industrial, miscellaneous and all other equity securities
AvailableForSaleSecuritiesGrossUnrealizedLosses	1,892,383	820,133
Equity Securities
AvailableForSaleSecuritiesGrossUnrealizedLosses	1,892,383	820,133
Less than 12 months
Held-to-maturity Securities, Unrecognized Holding Loss	$ 2,805,056	$ 552,276
No. of Investment Positions	76	22
Held-to-maturity Securities, Fair Value	$ 23,917,114	$ 7,081,352
Fair Value	$ 4,723,167	2,162,425
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	$ 2,798,201	$ 548,310
No. of Investment Positions	74	21
Less than 12 months | Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	$ 6,855	$ 3,966
No. of Investment Positions	2	1
Less than 12 months | U.S. Treasury Securities
No. of Investment Positions		0
Less than 12 months | Industrial, miscellaneous and all other equity securities
No. of Investment Positions	273	138
AvailableForSaleSecuritiesGrossUnrealizedLosses	$ 973,583	$ 327,389
Less than 12 months | Equity Securities
No. of Investment Positions	273	138
AvailableForSaleSecuritiesGrossUnrealizedLosses	$ 973,583	$ 327,389
More than 12 months
Held-to-maturity Securities, Unrecognized Holding Loss	$ 709,636	$ 445,253
No. of Investment Positions	13	13
Held-to-maturity Securities, Fair Value	$ 2,327,984	$ 2,777,587
Fair Value	802,547	676,706
More than 12 months | US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	$ 2,624
No. of Investment Positions	1
More than 12 months | Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	$ 707,012	$ 432,047
No. of Investment Positions	12	11
More than 12 months | Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss		$ 7,928
No. of Investment Positions	0	1
More than 12 months | U.S. Treasury Securities
Held-to-maturity Securities, Unrecognized Holding Loss		$ 5,278
No. of Investment Positions		1
More than 12 months | Industrial, miscellaneous and all other equity securities
No. of Investment Positions	66	27
AvailableForSaleSecuritiesGrossUnrealizedLosses	$ 918,800	$ 492,744
More than 12 months | Equity Securities
No. of Investment Positions	66	27
AvailableForSaleSecuritiesGrossUnrealizedLosses	$ 918,800	$ 492,744
Total
Held-to-maturity Securities, Unrecognized Holding Loss	3,514,692	997,529
Held-to-maturity Securities, Fair Value	26,245,098	9,858,939
Total | US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	2,624
Total | Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	3,505,213	980,357
Total | Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	$ 6,855	11,894
Total | U.S. Treasury Securities
Held-to-maturity Securities, Unrecognized Holding Loss		$ 5,278

3) Investments (Details)

3) Investments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Average market value over amortized cost	88.20%		88.20%		90.80%
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Period Increase (Decrease)	$ 30,000	$ 30,000	$ 90,000	$ 90,000
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	5,261,896		5,261,896		$ 7,500,477
Beginning, Loan Loss Reserve	1,718,150		1,718,150		5,506,532
Loan loss reserve, Provisions for losses	4,673,991		4,673,991		3,053,403
Loan loss reserve, Charge-offs	(640,990)		(640,990)		(6,841,785)
Ending, Loan Loss Reserve	5,751,151		5,751,151		1,718,150
Residential Mortgage
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	5,197,001		5,197,001		7,021,083
Residential Construction
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	$ 64,895		$ 64,895		$ 479,394

3) Investments_ Equity Securiti

3) Investments: Equity Securities - Additional (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Average Market Value of Security over initial investment	74.50%		74.50%		77.60%
Equity Securities
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities	$ 26,290	$ 0	$ 77,497	$ 0

3) Investments_ Investments C49

3) Investments: Investments Classified by Contractual Maturity Date (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
AmortizedCost	$ 133,357,324	$ 135,018,347
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	142,625,644	150,757,375
Available-for-sale Securities, Amortized Cost Basis	9,012,605
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	7,208,726
Collateralized Mortgage Backed Securities
AmortizedCost	3,052,011	4,263,206
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	3,286,917	4,556,693
Redeemable Preferred Stock
AmortizedCost	612,023	612,023
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	639,552	$ 634,055
Common Stock
Available-for-sale Securities, Amortized Cost Basis	9,012,605
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	7,208,726
Due in 2015
AmortizedCost	749,780
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	753,840
Due in 2016 through 2019
AmortizedCost	30,426,998
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	33,178,552
Due in 2020 through 2024
AmortizedCost	28,926,814
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	30,445,969
Due after 2024
AmortizedCost	69,589,698
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	$ 74,320,814

3) Investments_ Gain (Loss) o50

3) Investments: Gain (Loss) on Investments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fixed maturity securities held to maturity:	$ 1,296,488	$ 46,134	$ 2,106,121	$ 524,979
Held-to-maturity Securities
Gross Realized Gains	15,279	211,403	374,337	258,951
Gross Realized Losses	(22,796)	(66,459)	(82,166)	(68,742)
Other than Temporary Impairments	(30,000)	(30,000)	(90,000)	(90,000)
Available-for-sale Securities
Gross Realized Gains	35,009	77,386	165,018	214,303
Gross Realized Losses	(2,521)	(27,651)	(3,536)	(38,918)
Other than Temporary Impairments	(26,290)		(77,497)
Other Assets
Gross Realized Gains	1,731,939	352,151	2,187,271	720,082
Gross Realized Losses	$ (404,132)	(116,920)	$ (367,306)	(116,921)
Other than Temporary Impairments		$ (353,776)		$ (353,776)

3) Investments_ Net carrying am

3) Investments: Net carrying amount of held to maturity securities (Details) - Held-to-maturity Securities - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Net carrying amount for sales of securities	$ 2,543,312	$ 1,599,184
Net realized gain related to sales of securities	$ 330,373	$ 18,051

3) Investments_ Schedule of M52

3) Investments: Schedule of Major categories of net investment income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Gross investment income	$ 11,147,666	$ 10,478,118	$ 32,725,159	$ 27,485,654
Investment Income, Investment Expense	(2,715,252)	(2,286,156)	(7,879,228)	(6,943,905)
Net Investment Income	8,432,414	8,191,962	24,845,931	20,541,749
Fixed Maturities
Gross investment income	2,014,014	2,036,407	6,139,698	6,212,852
Equity Securities
Gross investment income	61,238	73,110	175,954	163,109
Mortgage loans on real estate
Gross investment income	1,754,852	2,216,711	5,396,016	5,605,882
Real Estate
Gross investment income	2,320,242	2,125,374	6,674,594	6,416,939
Policy, Student and other loans
Gross investment income	219,916	195,138	597,101	574,393
Short-term investments, principally gains on sale of mortgage loans
Gross investment income	$ 4,777,404	$ 3,831,378	$ 13,741,796	$ 8,512,479

3) Investments_ Net Investment

3) Investments: Net Investment Income - Additional (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Net Investment Income	$ 8,432,414	$ 8,191,962	$ 24,845,931	$ 20,541,749
Securities on deposit for regulatory authorities	9,065,847		9,065,847		$ 8,886,001
Cemeteries and mortuaries
Net Investment Income	$ 119,963	$ 96,370	$ 306,449	$ 268,729

3) Investments_ Mortgage Loans

3) Investments: Mortgage Loans - Additional (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Details
Mortgage loans on real estate balances, net of allowance for losses	$ 1,856,694	$ 2,003,055

3) Investments_ Schedule of A55

3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses, Beginning Balance	$ 2,003,055	$ 1,652,090
Allowance for credit losses, Charge-offs		(38,444)
Allowance for credit losses, Provision	(146,361)	389,409
Financing Receivable, Allowance for Credit Losses, Ending Balance	1,856,694	2,003,055
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	198,818	153,446
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,657,877	1,849,609
Mortgage loans	113,539,948	122,053,127
Financing Receivable, Individually Evaluated for Impairment	2,989,318	1,970,681
Financing Receivable, Collectively Evaluated for Impairment	110,550,631	120,082,446
Commercial Loan
Financing Receivable, Allowance for Credit Losses, Beginning Balance	187,129	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	36,601,043	35,388,756
Financing Receivable, Collectively Evaluated for Impairment	36,601,043	35,388,756
Residential Mortgage
Financing Receivable, Allowance for Credit Losses, Beginning Balance	1,715,812	1,364,847
Allowance for credit losses, Charge-offs		(38,444)
Allowance for credit losses, Provision	(146,361)	389,409
Financing Receivable, Allowance for Credit Losses, Ending Balance	1,569,451	1,715,812
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	198,818	153,446
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,370,634	1,562,366
Mortgage loans	48,076,245	53,592,433
Financing Receivable, Individually Evaluated for Impairment	2,989,318	1,556,182
Financing Receivable, Collectively Evaluated for Impairment	45,086,928	52,036,251
Residential Construction
Financing Receivable, Allowance for Credit Losses, Beginning Balance	100,114	100,114
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	28,862,660	33,071,938
Financing Receivable, Individually Evaluated for Impairment		414,499
Financing Receivable, Collectively Evaluated for Impairment	$ 28,862,660	$ 32,657,439

3) Investments_ Schedule of a56

3) Investments: Schedule of aging of mortgage loans (Details) - USD ($)		9 Months Ended	12 Months Ended
		Sep. 30, 2015	Dec. 31, 2014
Mortgage Loans during period		$ 113,539,948	$ 122,053,127
Mortgage Loans, Allowance for Loan Losses		(1,856,694)	(2,003,055)
Net Mortgage Loans		111,683,254	120,050,072
Commercial Loan
Mortgage Loans during period		36,601,043	35,388,756
Mortgage Loans, Allowance for Loan Losses		(187,129)	(187,129)
Net Mortgage Loans		36,413,914	35,201,627
Residential Mortgage
Mortgage Loans during period		48,076,245	53,592,433
Mortgage Loans, Allowance for Loan Losses		(1,569,451)	(1,715,812)
Net Mortgage Loans		46,506,794	51,876,621
Residential Construction
Mortgage Loans during period		28,862,660	33,071,938
Mortgage Loans, Allowance for Loan Losses		(100,114)	(100,114)
Net Mortgage Loans		28,762,546	32,971,824
Past due 30 to 59 days
Mortgage Loans during period		1,183,084	1,631,142
Past due 30 to 59 days | Residential Mortgage
Mortgage Loans during period		1,183,084	1,631,142
Past due 60 to 89 days
Mortgage Loans during period		960,999	1,174,516
Past due 60 to 89 days | Residential Mortgage
Mortgage Loans during period		960,999	1,174,516
Past due 90 or more days
Mortgage Loans during period	[1]	2,272,578	5,529,796
Past due 90 or more days | Residential Mortgage
Mortgage Loans during period	[1]	2,207,683	5,464,901
Past due 90 or more days | Residential Construction
Mortgage Loans during period	[1]	64,895	64,895
In Foreclosure
Mortgage Loans during period	[1]	2,989,318	1,970,681
In Foreclosure | Residential Mortgage
Mortgage Loans during period	[1]	2,989,318	1,556,182
In Foreclosure | Residential Construction
Mortgage Loans during period	[1]		414,499
Total Past Due
Mortgage Loans during period		7,405,979	10,306,135
Total Past Due | Residential Mortgage
Mortgage Loans during period		7,341,084	9,826,741
Total Past Due | Residential Construction
Mortgage Loans during period		64,895	479,394
Current
Mortgage Loans during period		106,133,969	111,746,992
Current | Commercial Loan
Mortgage Loans during period		36,601,043	35,388,756
Current | Residential Mortgage
Mortgage Loans during period		40,735,161	43,765,692
Current | Residential Construction
Mortgage Loans during period		$ 28,797,765	$ 32,592,544
[1]	There was not any interest income recognized on loans past due greater than 90 days or in foreclosure.

3) Investments_ Schedule of I57

3) Investments: Schedule of Impaired Mortgage Loans (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Residential Mortgage
Impaired Financing Receivable, with Related Allowance, Recorded Investment	$ 2,989,318	$ 1,556,182
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	2,989,318	1,556,182
Impaired Financing Receivable, Related Allowance	198,818	153,446
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	2,989,318	1,556,182
Total Residential Mortgage
Impaired Financing Receivable, with Related Allowance, Recorded Investment	2,989,318	1,556,182
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	2,989,318	1,556,182
Impaired Financing Receivable, Related Allowance	198,818	153,446
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	$ 2,989,318	1,556,182
Residential Construction
Impaired Financing Receivable, with Related Allowance, Recorded Investment		414,499
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance		414,499
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment		414,499
Impaired Financing Receivable, with No Related Allowance, Recorded Investment		414,499
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment		$ 414,499

3) Investments_ Schedule Of C58

3) Investments: Schedule Of Credit Risk Of Mortgage Loans Based On Performance Status (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Mortgage loans	$ 113,539,948	$ 122,053,127
Performing Financing Receivable
Mortgage loans	108,278,052	114,552,650
Nonperforming Financing Receivable
Mortgage loans	5,261,896	7,500,477
Commercial Loan
Mortgage loans	36,601,043	35,388,756
Commercial Loan | Performing Financing Receivable
Mortgage loans	36,601,043	35,388,756
Residential Mortgage
Mortgage loans	48,076,245	53,592,433
Residential Mortgage | Performing Financing Receivable
Mortgage loans	42,879,244	46,571,350
Residential Mortgage | Nonperforming Financing Receivable
Mortgage loans	5,197,001	7,021,083
Residential Construction
Mortgage loans	28,862,660	33,071,938
Residential Construction | Performing Financing Receivable
Mortgage loans	28,797,765	32,592,544
Residential Construction | Nonperforming Financing Receivable
Mortgage loans	$ 64,895	$ 479,394

3) Investments_ Summary of Inte

3) Investments: Summary of Interest not accrued on non-performing mortgage loans (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Details
Interest not accrued on non-performing loans	$ 571,000	$ 535,000

4) Stock-based Compensation (De

4) Stock-based Compensation (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Details
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 88,510	$ 108,872	$ 299,986	$ 237,398
Unrecognized compensation expense related to the options issued in December 2014	$ 61,645		61,645
Total intrinsic value			$ 532,418	$ 133,141

4) Stock-based Compensation_ 61

4) Stock-based Compensation: Schedule of stock inventive plan changes (Details) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Class A Common Stock
Shares, Outstanding	480,129	408,464	512,795	405,133
Shares outstanding	$ 3.28	$ 2.75	$ 3.20	$ 2.41
Shares Granted		52,000
Per Share Shares Granted		$ 4.29
Shares Exercised	(23,820)	(40,468)
Per Share Shares Exercised	$ 1.85	$ 1.66
Shares Cancelled	(8,846)	(8,201)
Per Share Shares cancelled	$ 2.31	$ 2.29
Options Exercisable	447,571	334,869
Options exercisable	$ 3.17	$ 2.40
Available options for future grant	$ 561,649	$ 412,480
Weighted average contractual term of options outstanding	7.15 years	7.01 years
Weighted average contractual term of options exercisable	7.00 years	6.45 years
Aggregated intrinsic value of options outstanding	$ 1,646,768	$ 913,166
Aggregated intrinsic value of options exercisable	$ 1,583,605	$ 869,804
Class C Common Stock
Shares, Outstanding	577,568	558,656	691,591	508,656
Shares outstanding	$ 2.62	$ 2.25	$ 2	$ 2
Shares Granted		50,000
Per Share Shares Granted		$ 4.72
Shares Exercised	(114,023)
Per Share Shares Exercised	$ 2.14
Options Exercisable	550,693	495,532
Options exercisable	$ 2.51	$ 1.92
Available options for future grant	$ 155,000	$ 55,000
Weighted average contractual term of options outstanding	2.41 years	2.57 years
Weighted average contractual term of options exercisable	2.35 years	1.80 years
Aggregated intrinsic value of options outstanding	$ 2,363,921	$ 1,524,902
Aggregated intrinsic value of options exercisable	$ 2,312,190	$ 1,512,402

5) Earnings Per Share_ Schedu62

5) Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Details
Net earnings	$ 4,889,785	$ 2,137,822	$ 10,605,767	$ 4,900,733
Weighted-average Class A equivalent common share outstanding (1)	13,146,617	12,455,314	13,023,962	12,487,646
GrantOfEmployeeStockOptions	$ 628,485	$ 469,451	$ 574,224	$ 443,704
Diluted weighted-average shares outstanding	13,775,102	12,924,765	13,598,186	12,931,350
Net earnings per Class A Equivalent common share (1)	$ 0.37	$ 0.17	$ 0.81	$ 0.39
Net earnings per Class A Equivalent common share-assuming dilution (1)	$ 0.35	$ 0.17	$ 0.78	$ 0.38

5) Earnings Per Share (Details)

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

6) Business Segments_ Schedul64

6) Business Segments: Schedule of Revenues and Expenses by Reportable Segment (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Revenue from customers	$ 75,494,686	$ 61,725,792	$ 215,584,933	$ 166,190,798
SegmentReportingInformationIncomeLossBeforeIncomeTaxes	7,794,400	3,377,140	17,024,736	7,730,224
Identifiable Assets	749,395,838	660,512,730	749,395,838	660,512,730
Goodwill	2,765,570	3,050,761	2,765,570	3,050,761	$ 2,765,570
Life Insurance Segment
Revenue from customers	23,148,090	21,552,754	65,610,558	59,836,068
SegmentReportingInformationIntersegmentRevenue	3,206,703	2,407,685	8,884,390	6,825,600
SegmentReportingInformationIncomeLossBeforeIncomeTaxes	3,655,998	1,986,732	7,175,036	4,833,627
Identifiable Assets	709,683,255	646,540,190	709,683,255	646,540,190
Goodwill	2,765,570	2,765,570	2,765,570	2,765,570
Cemetery and Mortuary
Revenue from customers	3,123,168	2,707,908	9,436,496	9,283,357
SegmentReportingInformationIntersegmentRevenue	292,445	331,415	910,016	1,002,027
SegmentReportingInformationIncomeLossBeforeIncomeTaxes	250,111	(119,548)	811,261	232,141
Identifiable Assets	100,760,704	106,836,565	100,760,704	106,836,565
Goodwill		285,191		285,191
Mortgage
Revenue from customers	49,223,428	37,465,130	140,537,879	97,071,373
SegmentReportingInformationIntersegmentRevenue	76,159	166,043	256,950	561,438
SegmentReportingInformationIncomeLossBeforeIncomeTaxes	3,888,291	1,509,956	9,038,439	2,664,456
Identifiable Assets	71,954,237	56,961,903	71,954,237	56,961,903
Significant Reconciling Items
SegmentReportingInformationIntersegmentRevenue	(3,575,307)	(2,905,143)	(10,051,356)	(8,389,065)
Identifiable Assets	$ (133,002,358)	$ (149,825,928)	$ (133,002,358)	$ (149,825,928)

7)_ Fair Value of Financial I65

7): Fair Value of Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Assets accounted for at fair value on a recurring basis
Available-for-sale Securities	$ 7,208,726
Restricted assets of cemeteries and mortuaries	670,390	$ 715,202
Cemetery perpetual care trust investments	609,303	695,235
Derivatives - interest rate lock commitments	4,756,170	2,111,529
Assets, Fair Value Disclosure	13,244,589	10,274,716
Liabilities accounted for at fair value on a recurring basis
Policyholder account balances	(50,915,543)	(45,310,699)
Future policy benefits - annuities	(63,289,669)	(65,540,985)
Derivatives - bank loan interest rate swaps, Call Options	(6,715)	(116,036)
Derivatives - bank loan interest rate swaps, Put Options	(103,684)	(11,867)
Derivatives - bank loan interest rate swaps, Interest rate lock commitments	(518,227)	(181,678)
Liabilities accounted for at fair value	(114,833,838)	(111,192,635)
Non-redeemable preferred stock		6,752,750
Trading Securities, Equity		6,752,750
Derivatives - bank loan interest rate swaps		(31,370)
Fair Value, Inputs, Level 1
Assets accounted for at fair value on a recurring basis
Available-for-sale Securities	7,208,726
Restricted assets of cemeteries and mortuaries	670,390	715,202
Cemetery perpetual care trust investments	609,303	695,235
Assets, Fair Value Disclosure	8,488,419	8,163,187
Liabilities accounted for at fair value on a recurring basis
Derivatives - bank loan interest rate swaps, Call Options	(6,715)	(116,036)
Derivatives - bank loan interest rate swaps, Put Options	(103,684)	(11,867)
Liabilities accounted for at fair value	(110,399)	(127,903)
Non-redeemable preferred stock		6,752,750
Trading Securities, Equity		6,752,750
Fair Value, Inputs, Level 3
Assets accounted for at fair value on a recurring basis
Derivatives - interest rate lock commitments	4,756,170	2,111,529
Assets, Fair Value Disclosure	4,756,170	2,111,529
Liabilities accounted for at fair value on a recurring basis
Policyholder account balances	(50,915,543)	(45,310,699)
Future policy benefits - annuities	(63,289,669)	(65,540,985)
Derivatives - bank loan interest rate swaps, Interest rate lock commitments	(518,227)	(181,678)
Liabilities accounted for at fair value	$ (114,723,439)	(111,064,732)
Derivatives - bank loan interest rate swaps		$ (31,370)

7)_ Fair Value of Financial I66

7): 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, 2015	Dec. 31, 2014
Policyholder Account Balances
Fair Value Balance	$ (45,310,699)	$ (48,000,668)
Fair Value, Losses (Gains) included in earnings	(5,604,844)	2,689,969
Fair Value Balance	(50,915,543)	(45,310,699)
Future Policy Benefits - Annuities
Fair Value Balance	(65,540,985)	(65,052,928)
Fair Value, Losses (Gains) included in earnings	2,251,316	(488,057)
Fair Value Balance	(63,289,669)	(65,540,985)
Interest Rate Lock Commitments
Fair Value Balance	1,929,851	1,487,908
Fair Value, Losses (Gains) included in other comprehensive income	2,308,092	441,943
Fair Value Balance	4,237,943	1,929,851
Bank Loan Interest Rate Swaps
Fair Value Balance	(31,370)	(58,310)
Fair Value, Losses (Gains) included in other comprehensive income	$ 31,370	26,940
Fair Value Balance		$ (31,370)

7)_ Fair Value of Financial I67

7): Fair Value of Financial Instruments: Schedule of Fair Value Measurements, Nonrecurring (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Assets accounted for at fair value on a nonrecurring basis - Mortgage servicing rights	$ 4,674,218
Mortgage loans on real estate	320,000
Assets accounted for at fair value on a nonrecurring basis	4,994,218
Assets accounted for at fair value on non-recurring basis
Mortgage servicing rights		$ 3,741,381
Real estate held for investment		53,500
Assets, Fair Value Disclosure, Nonrecurring		3,794,881
Fair Value, Inputs, Level 3
Assets accounted for at fair value on a nonrecurring basis - Mortgage servicing rights	4,674,218
Mortgage loans on real estate	320,000
Assets accounted for at fair value on a nonrecurring basis	$ 4,994,218
Assets accounted for at fair value on non-recurring basis
Mortgage servicing rights		3,741,381
Real estate held for investment		53,500
Assets, Fair Value Disclosure, Nonrecurring		$ 3,794,881

7)_ Fair Value of Financial I68

7): Fair Value of Financial Instruments (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Policyholder Account Balances
Fair Value Balance	$ (45,310,699)	$ (48,000,668)
Fair Value, Losses (Gains) included in earnings	(5,604,844)	2,689,969
Fair Value Balance	(50,915,543)	(45,310,699)
Future Policy Benefits - Annuities
Fair Value Balance	(65,540,985)	(65,052,928)
Fair Value, Losses (Gains) included in earnings	2,251,316	(488,057)
Fair Value Balance	(63,289,669)	(65,540,985)
Interest Rate Lock Commitments
Fair Value Balance	1,929,851	1,487,908
Fair Value, Losses (Gains) included in other comprehensive income	2,308,092	441,943
Fair Value Balance	4,237,943	1,929,851
Bank Loan Interest Rate Swaps
Fair Value Balance	(31,370)	(58,310)
Fair Value, Losses (Gains) included in other comprehensive income	$ 31,370	26,940
Fair Value Balance		$ (31,370)

7)_ Fair Value of Financial I69

7): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Carrying Value	$ (39,535,964)	$ (28,989,008)
Estimated Fair Value	(39,535,964)	(28,989,008)
Residential Mortgage
Carrying Value	46,506,794	51,876,621
Estimated Fair Value	49,579,568	55,247,638
Residential Construction
Carrying Value	28,762,546	32,971,824
Estimated Fair Value	28,762,546	32,971,824
Commercial Loan
Carrying Value	36,413,914	35,201,627
Estimated Fair Value	38,062,674	36,829,266
MortgageLoansNet1Member
Carrying Value	111,683,254	120,050,072
Estimated Fair Value	116,404,788	125,048,728
PolicyLoanMember
Carrying Value	7,038,768	7,011,012
Estimated Fair Value	7,038,768	7,011,012
OtherLoansMember
Carrying Value	27,422,787	27,114,416
Estimated Fair Value	27,422,787	27,114,416
ShortTermInvestments1Member
Carrying Value	19,980,369	27,059,495
Estimated Fair Value	19,980,369	27,059,495
Fair Value, Inputs, Level 3
Estimated Fair Value	(39,535,964)	(28,989,008)
Fair Value, Inputs, Level 3 | Residential Mortgage
Estimated Fair Value	49,579,568	55,247,638
Fair Value, Inputs, Level 3 | Residential Construction
Estimated Fair Value	28,762,546	32,971,824
Fair Value, Inputs, Level 3 | Commercial Loan
Estimated Fair Value	38,062,674	36,829,266
Fair Value, Inputs, Level 3 | MortgageLoansNet1Member
Estimated Fair Value	116,404,788	125,048,728
Fair Value, Inputs, Level 3 | PolicyLoanMember
Estimated Fair Value	7,038,768	7,011,012
Fair Value, Inputs, Level 3 | OtherLoansMember
Estimated Fair Value	27,422,787	27,114,416
Fair Value, Inputs, Level 3 | ShortTermInvestments1Member
Estimated Fair Value	$ 19,980,369	$ 27,059,495

9) Derivative Commitments (Deta

9) Derivative Commitments (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Details
Fair value of outstanding call options	$ 110,399	$ 127,903

9) Derivative Commitments_ Sc71

9) Derivative Commitments: Schedule of Derivative Assets at Fair Value (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Details
Fair Value of Asset Derivatives, Interest rate lock and forward sales commitments	$ 4,756,170	$ 2,111,529
Fair Value of Liability Derivatives, Interest rate lock and forward sales commitments	518,227	181,678
Fair Value of Liability Derivatives, Call Options	6,715	116,036
Fair Value of Liability Derivatives, Put Options	103,684	11,867
Fair Value of Liability Derivatives, Interest Rate Swaps		31,370
Fair Value of Asset Derivatives, Total	4,756,170	2,111,529
Fair Value of Liability Derivatives, Total	$ 628,626	$ 340,951

9) Derivative Commitments_ Sc72

9) Derivative Commitments: Schedule of Gains and Losses on Derivatives (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Details
Gain (Loss) on Derivatives, Interest Rate Lock Commitments	$ (1,431,809)	$ (713,276)	$ 2,308,092	$ 525,136
Gain (Loss) on Derivatives, Interest Rate Swaps	22,659	9,655	31,370	21,955
GainLossOnDerivativesSubTotal	(1,409,150)	(703,621)	2,339,462	547,091
TaxEffect-GainLossOnDerivatives	(549,569)	(274,412)	912,390	213,366
Gain (Loss) on Derivatives, Total	$ (859,581)	$ (429,209)	$ 1,427,072	$ 333,725

10) Reinsurance, Commitments 73

10) Reinsurance, Commitments and Contingencies: Mortgage Loan Loss Settlements (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Details
Amounts accrued for loan losses	$ 1,755,000	$ 1,063,000	$ 4,674,000	$ 2,007,000
Funds reserved and accrued to settle investor related claims	$ 5,751,000		$ 5,751,000		$ 1,718,000

10) Reinsurance, Commitments 74

10) Reinsurance, Commitments and Contingencies: Other Contingencies and Commitments (Details)	Sep. 30, 2015USD ($)
Details
Commitments to fund new residential construction loans	$ 48,354,000
Commitments to fund new residential construction loans funded	$ 28,863,000

11) Mortgage Servicing Rights75

11) Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Details
Balance before valuation allowance at beginning of year	$ 7,834,747	$ 4,844,101
MSRs proceeds from loan sales	4,674,218	3,741,381
Amortization	(934,626)	(750,735)
Balance before valuation allowance at year end	11,574,339	7,834,747
Mortgage servicing rights, net	11,574,339	7,834,747
Estimated fair value of MSRs at end of period	$ 12,093,178	$ 8,485,570

12) Mergers, Acquisitions and76

12) Mergers, Acquisitions and Dispositions Disclosures: Schedule of pro forma financial information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Details
Business Acquisition, Pro Forma Revenue	$ 75,494,686	$ 61,725,792	$ 215,584,933	$ 168,522,777
Business Acquisition, Pro Forma Net Income (Loss)	$ 4,889,785	$ 2,137,822	$ 10,605,767	$ 5,142,490
Business Acquisition, Pro Forma Earnings Per Share, Basic	$ 0.37	$ 0.17	$ 0.81	$ 0.41
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$ 0.35	$ 0.17	$ 0.78	$ 0.40