Security National Financial (SNFCA) 10-K 30 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 24, 2016	Jun. 30, 2015
Entity Registrant Name	SECURITY NATIONAL FINANCIAL CORP
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Trading Symbol	snfca
Amendment Flag	false
Entity Central Index Key	318,673
Current Fiscal Year End Date	--12-31
Entity Public Float			$ 27,000,000
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	FY
Class A Common Stock
Entity Common Stock, Shares Outstanding		13,137,698
Class C Common Stock
Entity Common Stock, Shares Outstanding		1,716,024

Balance Sheet

Balance Sheet - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Investments:
Fixed maturity securities, held to maturity, at amortized cost	$ 145,558,425	$ 135,018,347
Equity securities, available for sale, at estimated fair value	8,431,090	6,752,750
Mortgage loans on real estate and construction loans held for investment, net of allowances for loan losses of $1,848,120 and $2,003,055 for 2015 and 2014	112,546,905	120,050,072
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	114,852,432	111,411,351
Policy and other loans, net of allowance for doubtful accounts of $906,616 and $693,413 for 2015 and 2014	39,582,421	34,125,428
Short-term investments	16,915,808	27,059,495
Accrued investment income	2,553,819	2,483,253
Total investments	440,440,900	436,900,696
Cash and cash equivalents	40,053,242	30,855,320
Mortgage loans sold to investors	115,286,455	67,534,400
Receivables, net	16,026,100	14,544,093
Restricted assets	9,359,802	9,347,797
Cemetery perpetual care trust investments	2,848,759	2,645,423
Receivable from reinsurers	13,400,527	12,036,263
Cemetery land and improvements	10,780,996	10,848,085
Deferred policy and pre-need contract acquisition costs	59,004,909	50,307,503
Mortgage servicing rights	12,679,755	7,834,747
Property and equipment, net	11,441,660	11,307,714
Value of business acquired	8,743,773	8,547,627
Goodwill	2,765,570	2,765,570
Other assets	7,100,869	5,594,324
Total Assets	749,933,317	671,069,562
Liabilities
Future life, annuity, and other benefits	517,177,388	476,727,465
Unearned premium reserve	4,737,305	4,961,937
Bank and other loans payable	40,908,915	29,020,378
Deferred pre-need cemetery and mortuary contract revenues	12,816,227	13,242,143
Cemetery perpetual care obligation	3,465,771	3,406,718
Accounts payable	3,502,046	1,789,387
Other liabilities and accrued expenses	31,027,381	24,408,666
Income taxes	25,052,059	20,421,767
Total liabilities	$ 638,687,092	$ 573,978,461
Commitments and Contingencies
Stockholders' Equity
Additional paid-in capital	$ 30,232,582	$ 25,931,119
Accumulated other comprehensive income, net of taxes	1,533,828	1,438,566
Retained earnings	52,021,764	44,101,252
Treasury stock, at cost - 930,546 Class A shares and -0- Class C shares in 2015; 986,264 Class A shares and -0- Class C shares in 2014	(2,179,429)	(2,086,454)
Total stockholders' equity	111,246,225	97,091,101
Total Liabilities and Stockholders' Equity	749,933,317	671,069,562
Class A Common Stock
Stockholders' Equity
Common stock	26,218,200	24,918,480
Class C Common Stock
Stockholders' Equity
Common stock	$ 3,419,280	$ 2,788,138

Balance Sheet Parenthetical

Balance Sheet Parenthetical - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Allowance for losses on mortgage loans on real estate and construction loans, held for investment	$ 1,848,120	$ 2,003,055
Accumulated depreciation on real estate held for investment	12,210,346	10,875,419
Allowance for doubtful accounts on policy and other loans	$ 906,616	$ 693,413
Class A Common Stock
Common Stock Par Value	$ 2	$ 2
Common Stock Authorized	20,000,000	20,000,000
Common Stock Issued	13,109,100	12,459,240
Treasury Stock	930,546	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	1,709,640	1,394,069

Income Statement

Income Statement - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Insurance premiums and other considerations	$ 56,409,863	$ 53,008,679	$ 50,471,658
Net investment income	34,007,904	28,303,740	20,354,002
Net mortuary and cemetery sales	11,502,045	11,426,308	12,000,375
Realized gains on investments and other assets	2,401,359	1,918,176	1,418,051
Other than temporary impairments	(605,430)	(164,240)	(336,226)
Mortgage fee income	174,323,452	128,696,998	128,800,930
Other income	5,121,807	3,747,013	2,606,230
Total revenues	283,161,000	226,936,674	215,315,020
Benefits and expenses:
Death benefits	31,158,281	27,100,278	26,048,325
Surrenders and other policy benefits	2,391,612	2,689,686	2,486,611
Increase in future policy benefits	17,212,001	18,060,151	19,594,890
Amortization of deferred policy and pre-need acquisition costs and value of business acquired	5,641,293	6,892,978	5,181,837
Selling, general and administrative expenses:
Commissions	81,935,623	59,876,675	65,979,564
Personnel	60,860,275	49,360,406	42,795,925
Advertising	5,730,197	4,584,436	4,837,714
Rent and rent related	7,850,776	6,135,876	5,457,988
Depreciation on property and equipment	2,183,496	2,177,165	1,621,069
Provision for loan losses and loss reserve	6,295,043	3,053,403	1,751,472
Costs related to funding mortgage loans	8,864,404	6,877,069	6,635,290
Other expenses	26,954,378	22,800,066	18,328,005
Interest expense	4,458,612	2,994,429	2,853,701
Cost of goods and services sold - mortuaries and cemeteries	1,803,444	1,853,103	1,918,902
Total benefits and expenses	263,339,435	214,455,721	205,491,293
Earnings before income taxes	19,821,565	12,480,953	9,823,727
Income tax expense	(7,198,685)	(4,726,305)	(2,237,806)
Net earnings	$ 12,622,880	$ 7,754,648	$ 7,585,921
Net earnings per Class A equivalent common share (1)	$ 0.92	$ 0.59	$ 0.58
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.89	$ 0.57	$ 0.55
Weighted average Class A equivalent common shares outstanding (1)	13,722,201	13,176,187	13,023,473
Weighted average Class A equivalent common shares outstanding-assuming dilution (1)	14,210,352	13,605,916	13,669,797

Comprehensive Income Statement

Comprehensive Income Statement - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Comprehensive Income Statement
Net earnings	$ 12,622,880	$ 7,754,648	$ 7,585,921
Changes in:
Net unrealized gains (losses) on derivative instruments	866,605	286,018	(1,020,754)
Net unrealized gains (losses) on available for sale securities	(771,343)	(65,848)	304,791
Other comprehensive gain (loss)	95,262	220,170	(715,963)
Comprehensive income	$ 12,718,142	$ 7,974,818	$ 6,869,958

Statements of Stockholders' Equ

Statements of Stockholders' Equity - USD ($)	Class A Common Stock	Class C Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Treasury Stock	Total
Balance at Dec. 31, 2012	$ 21,687,152	$ 2,194,820	$ 21,262,140	$ 1,934,359	$ 35,114,072	$ (2,380,434)	$ 79,812,109
Net earnings					7,585,921		7,585,921
Other comprehensive loss				(715,963)			(715,963)
Grant of stock options			88,369				88,369
Exercise stock options	719,572	422,422	(345,845)			(543,334)	252,815
Sale of treasury stock			428,794			299,143	727,937
Stock dividends	1,124,304	126,685	1,782,418		(3,033,406)		1
Conversion Class C to Class A	83,546	(83,545)	(1)
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					7,754,648		7,754,648
Other comprehensive loss				220,170			220,170
Grant of stock options			391,220				391,220
Reverse stock split true up		30			(30)
Exercise stock options	108,824		(34,800)				74,024
Sale of treasury stock			361,679			538,171	899,850
Stock dividends	1,190,040	132,767	1,997,147		(3,319,954)
Conversion Class C to Class A	5,042	(5,041)	(2)		1
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					12,622,880		12,622,880
Other comprehensive loss				95,262			95,262
Grant of stock options			387,608				387,608
Exercise stock options	47,922	483,304	(55,717)			(441,832)	33,677
Sale of treasury stock			666,840			530,396	1,197,236
Purchase of treasury stock						(181,539)	(181,539)
Stock dividends	1,248,966	150,670	3,302,732		(4,702,368)
Conversion Class C to Class A	2,832	(2,832)
Balance at Dec. 31, 2015	$ 26,218,200	$ 3,419,280	$ 30,232,582	$ 1,533,828	$ 52,021,764	$ (2,179,429)	$ 111,246,225

Statement of Cash Flows

Statement of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net earnings	$ 12,622,880	$ 7,754,648	$ 7,585,921
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Realized gains on investments and other assets	(2,401,359)	(1,918,176)	(1,418,051)
Other than temporary impairments	605,430	164,240	336,226
Depreciation and amortization	5,023,985	4,389,472	4,160,760
Provision for losses on real estate accounts and loans receivable	524,237	743,386	(584,873)
Amortization of premiums and discounts	269,681	238,687	103,032
Provision for deferred and other income taxes	4,362,664	3,072,642	416,269
Policy and pre-need acquisition costs deferred	(13,061,573)	(10,159,895)	(9,666,040)
Policy and pre-need acquisition costs amortized	4,364,167	5,590,332	3,841,565
Value of business acquired amortized	1,277,126	1,302,646	1,340,272
Servicing asset at amortized cost, additions	(6,217,551)	(3,741,381)	(2,494,254)
Amortization of mortgage servicing rights	1,372,543	750,735	447,623
Stock based compensation expense	387,608	391,220	88,369
Benefit plans funded with treasury stock	1,197,236	899,850	727,937
Change in assets and liabilities:
Land and improvements held for sale	67,089	(216,512)	(36,345)
Future life and other benefits	15,232,634	14,084,894	19,182,046
Receivables for mortgage loans sold	(47,752,055)	7,362,353	15,668,188
Other operating assets and liabilities	6,294,010	306,668	(3,046,791)
Net cash provided by (used in) operating activities	(15,831,248)	31,015,809	36,651,854
Securities held to maturity:
Purchase - fixed maturity securities	(22,604,453)	(3,449,187)	(22,849,622)
Calls and maturities - fixed maturity securities	11,952,402	11,850,864	8,518,848
Securities available for sale:
Purchase - equity securities	(9,336,175)	(5,996,993)	(2,807,367)
Sales - equity securities	6,559,555	3,851,664	4,528,862
Purchases of short-term investments	(47,160,050)	(18,587,022)	(19,827,619)
Sales of short-term investments	57,188,522	3,663,246	48,617,290
Sales (purchases) of restricted assets	(40,763)	(2,628,764)	2,777,715
Change in assets for perpetual care trusts	(267,717)	(230,921)	(255,204)
Amount received for perpetual care trusts	59,053	140,587	113,130
Mortgage, policy, and other loans made	(372,334,883)	(286,974,069)	(160,737,841)
Payments received for mortgage, policy, and other loans	371,254,833	267,763,998	133,260,148
Purchases of property and equipment	(3,632,690)	(1,520,443)	(3,570,334)
Disposal of property and equipment	2,899,322	894,805	33,900
Purchases of real estate held for investment	(16,725,475)	(19,317,567)	(26,749,586)
Sale of real estate held for investment	13,540,913	7,269,475	3,352,446
Cash received from reinsurance	24,020,215	13,553,864	2,466,175
Cash paid for purchase of subsidiaries, net of cash acquired		(15,011,193)
Net cash provided by (used in) investing activities	15,372,609	(44,727,656)	(33,129,059)
Cash flows from financing activities:
Annuity contract receipts	10,172,170	10,051,662	9,385,168
Annuity contract withdrawals	(12,273,707)	(14,519,563)	(14,866,251)
Proceeds from stock options exercised	33,677	74,024	252,815
Purchase of treasury stock	(181,539)
Repayment of bank loans and notes and contracts payable	(1,967,197)	(2,357,468)	(2,292,037)
Proceeds from bank borrowings	13,873,157	13,115,348	13,314,594
Change in line of credit borrowings			(4,608,204)
Net cash provided by financing activities	9,656,561	6,364,003	1,186,085
Net change in cash and cash equivalents	9,197,922	(7,347,844)	4,708,880
Cash and cash equivalents at beginning of year	30,855,320	38,203,164	33,494,284
Cash and cash equivalents at end of year	40,053,242	30,855,320	38,203,164
Non Cash Investing and Financing Activities
Mortgage loans foreclosed into real estate	$ 3,246,712	$ 981,820	$ 3,930,297

Note 1_ Significant Accounting

Note 1: Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Notes
Note 1: Significant Accounting Policies	1) Significant Accounting Policies General Overview of Business Security National Financial Corporation and its wholly owned subsidiaries (the “Company”) operate in three main business segments: life insurance, cemetery and mortuary, and mortgage loans. The life insurance segment is engaged in the business of selling and servicing selected lines of life insurance, annuity products and accident and health insurance marketed primarily in the intermountain west, California and eleven southern states. The cemetery and mortuary segment of the Company consists of seven mortuaries and five cemeteries in Utah and one cemetery in California. The mortgage loan segment is an approved government and conventional lender that originates and underwrites residential and commercial loans for new construction, existing homes and real estate projects primarily in Florida, Nevada, Texas, and Utah. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The presentation of certain amounts in prior years has been reclassified to conform to the 2015 presentation. Principles of Consolidation These consolidated financial statements include the financial statements of the Company and its majority owned subsidiaries. All intercompany transactions and accounts have been eliminated in consolidation. Use of Estimates Management of the Company has made a number of estimates and assumptions related to the reported amount of assets and liabilities, reported amounts of revenues and expenses, and the disclosure of contingent assets and liabilities to prepare these financial statements in conformity with generally accepted accounting principles. Actual results could differ from those estimates. Investments The Company’s management determines the appropriate classifications of investments in fixed maturity securities and equity securities at the acquisition date and re-evaluates the classifications at each balance sheet date. Fixed maturity securities held to maturity are carried at cost, adjusted for amortization of premium or accretion of discount. Although the Company has the ability and intent to hold these investments to maturity, infrequent and unusual conditions could occur under which it would sell certain of these securities. Those conditions include unforeseen changes in asset quality, significant changes in tax laws, and changes in regulatory capital requirements or permissible investments. Fixed maturity and equity securities available for sale are carried at estimated fair value. Changes in fair values net of income taxes are reported as unrealized appreciation or depreciation and recorded as an adjustment directly to stockholders’ equity and, accordingly, have no effect on net income. Mortgage loans on real estate, and construction loans held to maturity are Mortgage loans are collateral dependent and require an appraisal at the time of underwriting and funding. Generally the Company will fund a loan not to exceed 80% of the loan’s collateral fair market value. Amounts over 80% will require mortgage insurance by an approved third party insurer. Once a loan is deemed to be impaired the Company will review the market value of the collateral and provide an allowance for any impairment. Mortgage loans sold to investors are carried at the amount due from third party investors, which is the estimated fair value at the balance sheet date since these amounts are generally collected within a short period of time. Real estate held for investment is carried at cost, less accumulated depreciation provided on a straight line basis over the estimated useful lives of the properties, or is adjusted to a new basis for impairment in value, if any. Included are foreclosed properties which the Company intends to hold for investment purposes. These properties are recorded at the lower of cost or fair value upon foreclosure. Policy and other loans are carried at the aggregate unpaid balances, less allowances for possible losses. Short-term investments are carried at cost and consist of certificates of deposit and commercial paper with maturities of up to one year. Restricted assets are assets held in a trust account for future mortuary services and merchandise and consist of cash; participations in mortgage loans with Security National Life; mutual funds carried at cost; equity securities carried at fair market value; and a surplus note with Security National Life. Restricted cash also represents escrows held for borrowers and investors under servicing and appraisal agreements relating to mortgage loans, funds held by warehouse banks in accordance with loan purchase agreements and funds held in escrow for the construction of a 282-unit multifamily development in Sandy City, Utah. Cemetery and mortuary perpetual care trust business segment contains six wholly owned cemeteries. Of the six cemeteries owned by the Company, four cemeteries are endowment care properties. Under endowment care arrangements a portion of the price for each lot sold is withheld and invested in a portfolio of investments similar to those described in the prior paragraph. The earnings stream from the investments is designed to fund future maintenance and upkeep of the cemetery. Realized gains and losses on investments arise when investments are sold (as determined on a specific identification basis) or are other-than-temporarily impaired. If in management’s judgment a decline in the value of an investment below cost is other-than-temporary, the cost of the investment is written down to fair value with a corresponding charge to earnings. Factors considered in judging whether an impairment is other-than-temporary include: the financial condition, business prospects and credit worthiness of the issuer, the length of time that fair value has been less than cost, the relative amount of the decline, and the Company’s ability and intent to hold the investment until the fair value recovers, which is not assured. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. Cemetery Land and Improvements The development of a cemetery involves not only the initial acquisition of raw land but the installation of roads, water lines, landscaping and other costs to establish a marketable cemetery lot. The costs of developing the cemetery are shown as an asset on the balance sheet. The amount on the balance sheet is reduced by the total cost assigned to the development of a particular lot when the criterion for recognizing a sale of that lot is met. Property and Equipment Property and equipment are recorded at cost. Depreciation is calculated principally on the straight-line method over the estimated useful lives of the assets which range from three to forty years. Leasehold improvements are amortized over the lesser of the useful life or remaining lease terms. Recognition of Insurance Premiums and Other Considerations Premiums Deferred Policy Acquisition Costs and Value of Business Acquired Commissions and other costs, net of commission and expense allowances for reinsurance ceded, that vary with and are primarily related to the production of new insurance business have been deferred. Deferred policy acquisition costs (“DAC”) for traditional life insurance are amortized over the premium paying period of the related policies using assumptions consistent with those used in computing policy benefit reserves. For interest-sensitive insurance products, deferred policy acquisition costs are amortized generally in proportion to the present value of expected gross profits from surrender charges, investment, mortality and expense margins. This amortization is adjusted when estimates of current or future gross profits to be realized from a group of products are reevaluated. Deferred acquisition costs are written off when policies lapse or are surrendered. The Company follows accounting principles generally accepted in the United States of America when accounting for DAC on internal replacements of insurance and investment contracts. An internal replacement is a modification in product benefits, features, rights or coverage that occurs by the exchange of a contract for a new contract, or by amendment, endorsement, or rider to contract, or by the election of a feature or coverage within a contract. Modifications that result in a replacement contract that is substantially changed from the replaced contract are accounted for as an extinguishment of the replaced contract. Unamortized DAC, unearned revenue liabilities and deferred sales inducements from the replaced contract are written-off. Modifications that result in a contract that is substantially unchanged from the replaced contract are accounted for as a continuation of the replaced contract. Value of business acquired is the present value of estimated future profits of the acquired business and is amortized similar to deferred policy acquisition costs. Mortgage Servicing Rights Mortgage Service Rights (MSR) arise from contractual agreements between the Company and third-party investors (or their agents) when mortgage loans are sold. Under these contracts, the Company is obligated to retain and provide loan servicing functions on loans sold, in exchange for fees and other remuneration. The servicing functions typically performed include, among other responsibilities, collecting and remitting loan payments; responding to borrower inquiries; accounting for principal and interest, holding custodial (impound) funds for payment of property taxes and insurance premiums; counseling delinquent mortgagors; and supervising the acquisition of REO and property dispositions. The total residential mortgage loans serviced for others consist primarily of agency conforming fixed-rate mortgage loans. The value of MSRs is derived from the net cash flows associated with the servicing contracts. The Company receives a servicing fee of generally about 0.250% annually on the remaining outstanding principal balances of the loans. Based on the result of the cash flow analysis, an asset or liability is recorded for mortgage servicing rights. The servicing fees are collected from the monthly payments made by the mortgagors. An accrual for servicing fees is recorded on uncollected mortgage payments less than 90 days delinquent. A servicing fee accrual is not made on any mortgage payments due more than 90 days delinquent. The Company generally receives other remuneration including rights to various mortgagor-contracted fees such as late charges, and collateral reconveyance charges and the Company is generally entitled to retain the interest earned on funds held pending remittance of mortgagor principal, interest, tax and insurance payments. 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 seven and 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. Derivatives Interest Rate Locks and 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. Call and Put Options 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 options is adjusted to fair value at each reporting date. In the event an option is exercised, the Company recognizes a gain on the sale of the equity security and a gain on the sale of the option. If the option expires unexercised, the Company recognizes a gain from the sale of the option. Allowance for Doubtful Accounts and 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 2 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. 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 Additional information related to the Loan Loss Reserve is included in Note 2. Future Life, Annuity and Other Policy Benefits Future policy benefit reserves for traditional life insurance are computed using a net level method, including assumptions as to investment yields, mortality, morbidity, withdrawals, and other assumptions based on the life insurance subsidiaries’ experience, modified as necessary to give effect to anticipated trends and to include provisions for possible unfavorable deviations. Such liabilities are, for some plans, graded to equal statutory values or cash values at or prior to maturity. The range of assumed interest rates for all traditional life insurance policy reserves was 4.5% to 10%. Benefit reserves for traditional limited-payment life insurance policies include the deferred portion of the premiums received during the premium-paying period. Deferred premiums are recognized as income over the life of the policies. Policy benefit claims are charged to expense in the period the claims are incurred. Increases in future policy benefits are charged to expense. 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 3% to 6.5%. Participating Insurance Participating business constituted 2%, 2%, and 2% of insurance in force for 2015, 2014 and 2013, respectively. The provision for policyholders’ dividends included in policyholder obligations is based on dividend scales anticipated by management. Amounts to be paid are determined by the Board of Directors. Reinsurance The Company follows the procedure of reinsuring risks in excess of $100,000 to provide for greater diversification of business to allow management to control exposure to potential losses arising from large risks, and provide additional capacity for growth. The Company remains liable for amounts ceded in the event the reinsurers are unable to meet their obligations. The Company entered into coinsurance agreements with unaffiliated insurance companies under which the Company assumed 100% of the risk for certain life insurance policies and certain other policy-related liabilities of the insurance company. Reinsurance premiums, commissions, expense reimbursements, and reserves related to reinsured business are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Expense allowances received in connection with reinsurance ceded are accounted for as a reduction of the related policy acquisition costs and are deferred and amortized accordingly. Pre-need Sales and Costs Pre-need contract sales of funeral services and caskets - revenue and costs associated with the sales of pre-need funeral services and caskets are deferred until the services are performed or the caskets are delivered. Sales of cemetery interment rights (cemetery burial property) - revenue and costs associated with the sale of cemetery interment rights are recognized in accordance with the retail land sales provisions based on GAAP. Under GAAP, recognition of revenue and associated costs from constructed cemetery property must be deferred until a minimum percentage of the sales price has been collected. Pre-need contract sales of cemetery merchandise (primarily markers and vaults) - revenue and costs associated with the sale of pre-need cemetery merchandise is deferred until the merchandise is delivered. Pre-need contract sales of cemetery services (primarily merchandise delivery, installation fees and burial opening and closing fees) - revenue and costs associated with the sales of pre-need cemetery services are deferred until the services are performed. Prearranged funeral and pre-need cemetery customer acquisition costs - costs incurred related to obtaining new pre-need contract cemetery and prearranged funeral services are accounted for under the guidance of the provisions based on GAAP. Obtaining costs, which include only costs that vary with and are primarily related to the acquisition of new pre-need cemetery and prearranged funeral services, are deferred until the merchandise is delivered or services are performed. Revenues and costs for at need sales are recorded when a valid contract exists, the services are performed, collection is reasonably assured and there are no significant obligations remaining. The Company, through its cemetery and mortuary operations, provides guaranteed funeral arrangements wherein a prospective customer can receive future goods and services at guaranteed prices. To accomplish this, the Company, through its life insurance operations, sells to the customer an increasing benefit life insurance policy that is assigned to the mortuaries. If, at the time of need, the policyholder/potential mortuary customer utilizes one of the Company’s facilities, the guaranteed funeral arrangement contract that has been assigned will provide the funeral goods and services at the contracted price. The increasing life insurance policy will cover the difference between the original contract prices and current prices. Risks may arise if the difference cannot be fully met by the life insurance policy. However, management believes that given current inflation rates and related price increases of goods and services, the risk of exposure is minimal. Mortgage Fee Income Mort g g e c a f e e r a o r i g a t a n a l o r t gag a n F o e th t ra n s f e r e h a t h r i g h t pl e d g o e xc ha n g th mo r t g a g e a n (iii th Co m p a n d oe n o m a in ta in f c r e e g g The Company must determine that all three criteria are met at the time a loan is funded. g g g g e c t s t o r t warehouse banks p u r c h a si n th e lo a n u n d e th p u r c h a s c om m it me nt s The Company, through its mortgage subsidiaries, sells all mortgage loans to third party investors without recourse. However, it may be required to repurchase a loan or pay a fee instead of repurchase under certain events, which include the following: · · · · · · · Loan purchase commitments generally specify a date 30 to 45 days after delivery upon which the underlying loans should be settled. Depending on market conditions, these commitment settlement dates can be extended at a cost to the Company. It is the Company's policy to cure any documentation problems regarding such loans at a minimal cost for up to a six-month time period and to pursue efforts to enforce loan purchase commitments from third-party investors concerning the loans. The Company believes that six months allows adequate time to remedy any documentation issues, to enforce purchase commitments, and to exhaust other alternatives. Remedial methods include the following: · · · · · Once purchase commitments have expired and other alternatives to remedy are exhausted, which could be earlier than the six month time period, the loans are repurchased and transferred to the long term investment portfolio at the lower of cost or fair value and previously recorded sales revenue is reversed. Any loan that later becomes delinquent is evaluated by the Company at that time and any impairment is adjusted accordingly. Determining Lower of Cost or Market Cost is equal to the amount paid to the warehouse bank and the amount originally funded by the Company. Market value is often difficult to determine, but is based on the following: · · · The appraised value of the real estate underlying the original mortgage loan adds support to the Company’s determination of fair value because if the loan becomes delinquent, the Company has sufficient value to collect the unpaid principal balance or the carrying value of the loan. In determining the market value on the date of repurchase, the Company considers the total value of all of the loans because any sale of loans would be made as a pool. The Company provides an allowance for loan losses on its mortgage loans held for investment. The allowance is comprised of two components. The first component is an allowance for collectively evaluated impairment that is based upon the Company’s historical experience in collecting similar receivables. The second component is based upon individual evaluation of loans that are determined to be impaired. Commercial Loans Each quarter, management reviews the current commercial loans and determines if an allowance is required based on the Company’s actual experience of losses on impaired commercial loans. To date, the Company has not incurred any significant losses. The carrying value of all commercial loans is supported by appraisals and cash flow analysis of revenue received. Also, the Company does not accrue any interest income or capitalize any of the foreclosure costs on impaired commercial loans. Residential and Construction Loans The Company believes that in an orderly market fair value will approximate the replacement cost of a home and the rental income provides a cash flow stream for investment analysis. The Company believes the highest and best use of the properties are as income producing assets since it is the Company’s intent to hold the properties as rental properties, matching the income from the investment in rental properties with the funds required for future estimated policy claims. Accordingly, the fair value determination will be weighted more heavily toward the rental analysis. It should be noted that for replacement cost, when determining the fair value of mortgage properties, the Company uses Marshall and Swift, a provider of building cost information to the real estate construction industry. For the investment analysis, the Company 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. Each quarter the Company also analyzes its current loan portfolio and determines the level of allowance needed for loans that are listed as current in the portfolio. The basis of the analysis places a higher weight on loans with high loan to value ratios, those that lack mortgage insurance, and certain loan types that have a higher percentage of default based on the Company’s experience. Each quarter the Company makes further analysis of the foreclosed properties to determine if any additional allowances are necessary by comparing national indexes of loan to value ratios by region to the Company’s loan to value ratios. Based upon the above procedures, the Company’s management believes that residential and residential construction loans are reflected in the Company’s financial statements at the lower of cost or market in accordance with GAAP requirements. Goodwill Previous acquisitions have been accounted for as purchases under which assets acquired and liabilities assumed were recorded at their fair values with the excess purchase price recognized as goodwill. The Company evaluates annually or when changes in circumstances warrant the recoverability of goodwill and if there is a decrease in value, the related impairment is recognized as a charge against income. No impairment of goodwill has been recognized in the accompanying financial statements. Long-lived Assets Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the related carrying amount may not be recoverable. When required, impairment losses on assets to be held and used are recognized based on the fair value of the asset, and long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less costs to sell. No impairment of long-lived assets has been recognized in the accompanying financial statements. Income Taxes Income taxes include taxes currently payable plus deferred taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to the temporary differences in the financial reporting basis and tax basis of assets and liabilities and operating loss carry-forwards. Deferred tax assets are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. Liabilities are established for uncertain tax positions expected to be taken in income tax returns when such positions are judged to meet the “more-likely-than-not” threshold based on the technical merits of the positions. Estimated interest and penalties related to uncertain tax penalties are included as a component of other expenses. Earnings Per Common Share The Company computes earnings per share in accordance with accounting principles generally accepted in the United States of America which requires presentation of basic and diluted earnings per share. Basic earnings per equivalent Class A common share are computed by dividing net earnings by the weighted-average number of Class A common shares outstanding during each year presented, after the effect of the assumed conversion of Class C common stock to Class A common stock. Diluted earnings per share is computed by dividing net earnings by the weighted-average number of common shares outstanding during the year used to compute basic earnings per share plus dilutive potential incremental shares. Basic and diluted earnings per share amounts have been adjusted retroactively for the effect of annual stock dividends. Stock Based Compensation The cost of employee services received i

Note 2_ Investments

Note 2: Investments	12 Months Ended
	Dec. 31, 2015
Notes
Note 2: Investments	2) Investments The Company’s investments in fixed maturity securities held to maturity and equity securities available for sale as of December 31, 2015 are summarized as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2015 Fixed maturity securities held to maturity carried at amortized cost: U.S. Treasury securities and obligations of U.S. Government agencies $ 3,560,579 $ 292,869 $ (4,743) $ 3,848,705 Obligations of states and political subdivisions 1,805,828 182,073 (1,040) 1,986,861 Corporate securities including public utilities 134,488,108 9,836,355 (5,501,743) 138,822,720 Mortgage-backed securities 5,091,887 190,867 (75,580) 5,207,174 Redeemable preferred stock 612,023 29,675 - 641,698 Total fixed maturity securities held to maturity $ 145,558,425 $ 10,531,839 $ (5,583,106) $ 150,507,158 Equity securities available for sale at estimated fair value: Common stock: Industrial, miscellaneous and all other $ 9,891,500 $ 213,683 $ (1,674,094) $ 8,431,090 Total securities available for sale carried at estimated fair value $ 9,891,500 $ 213,683 $ (1,674,094) $ 8,431,090 Mortgage loans on real estate and construction loans held for investment at amortized cost: Residential $ 46,020,490 Residential construction 34,851,557 Commercial 33,522,978 Less: Allowance for loan losses (1,848,120) Total mortgage loans on real estate and construction loans held for investment $ 112,546,905 Real estate held for investment - net of depreciation $ 114,852,432 Policy and other loans at amortized cost: Policy loans $ 6,896,457 Other loans 33,592,580 Less: Allowance for doubtful accounts (906,616) Total policy and other loans at amortized cost $ 39,582,421 Short-term investments at amortized cost $ 16,915,808 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: 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 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 maturities securities, which are carried at amortized cost, at December 31, 2015 and 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 December 31, 2015 U.S. Treasury Securities and Obligations of U.S. Government Agencies $ 4,743 2 $ - 0 $ 4,743 Obligations of States and Political Subdivisions - 0 1,040 1 1,040 Corporate Securities 3,701,572 98 1,800,171 18 5,501,743 Mortgage and other asset-backed securities 75,580 4 - 0 75,580 Total unrealized losses $ 3,781,895 104 $ 1,801,211 19 $ 5,583,106 Fair Value $34,076,401 $ 3,809,957 $ 7,886,358 At December 31, 2014 Obligations of States and Political Subdivisions $ - 0 $ 5,278 1 $ 5,278 Corporate Securities 548,310 21 432,047 11 980,357 Mortgage and other asset-backed securities 3,966 1 7,928 0 11,894 Total unrealized losses $ 552,276 22 $ 445,253 12 $ 997,529 Fair Value $ 7,081,352 $ 2,777,587 $ 9,858,939 The average market value of the related fixed maturities was 87.2% and 90.8% of amortized cost as of December 31, 2015 and 2014, respectively. During 2015, 2014 and 2013, an other than temporary decline in market value resulted in the recognition of credit losses on fixed maturity securities of $120,000, $120,000 and $120,000, respectively. On a quarterly basis, the Company reviews its available for sale and held to maturity fixed 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 December 31, 2015 and 2014. The unrealized losses were primarily the result of decreases in market 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 December 31, 2015 Industrial, miscellaneous and all other $ 997,862 222 $ 676,232 74 $1,674,094 Total unrealized losses $ 997,862 222 $ 676,232 74 $1,674,094 Fair Value $4,177,709 $ 760,860 $4,938,569 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 The average market value of the equity securities available for sale was 74.7% and 77.6% of the original investment as of December 31, 2015 and 2014, respectively. 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 2015, 2014, and 2013, an other than temporary decline in the market value resulted in the recognition of an impairment loss on equity securities of $293,714, $44,240, and $100,304, 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 December 31, 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 Estimated Fair Cost Value Held to Maturity: Due in 2016 $ 5,496,865 $ 5,592,783 Due in 2017 through 2020 34,664,714 36,788,278 Due in 2021 through 2025 34,792,146 35,259,361 Due after 2025 64,900,790 67,017,864 Mortgage-backed securities 5,091,887 5,207,174 Redeemable preferred stock 612,023 641,698 Total held to maturity $ 145,558,425 $ 150,507,158 The cost and estimated fair value of available for sale securities at December 31, 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. Estimated Fair Cost Value Available for Sale: Common stock $ 9,891,500 $ 8,431,090 Total available for sale $ 9,891,500 $ 8,431,090 The Company’s realized gains and losses and other than temporary impairments from investments and other assets are summarized as follows: 2015 2014 2013 Fixed maturity securities held to maturity: Gross realized gains $ 387,162 $ 390,203 $ 97,238 Gross realized losses (82,166) (71,800) (41,164) Other than temporary impairments (120,000) (120,000) (120,000) Securities available for sale: Gross realized gains 180,602 349,207 540,990 Gross realized losses (66,850) (55,222) (2,678) Other than temporary impairments (293,714) (44,240) (100,304) Other assets: Gross realized gains 2,067,438 1,445,596 824,203 Gross realized losses (84,827) (139,808) (538) Other than temporary impairments (191,716) - (115,922) Total $ 1,795,929 $ 1,753,936 $ 1,081,825 The net carrying amount for sales of securities classified as held to maturity was $2,569,712 , $2,840,709 and $1,455,835 , for the years ended December 31, 2015, 2014 and 2013, respectively. The net realized gain related to these sales was $311,752 , $20,722 and $12,533 , for the years ended December 31, 2015, 2014 and 2013, 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 December 31, 2015, other than investments issued or guaranteed by the United States Government. Major categories of net investment income are as follows: 2015 2014 2013 Fixed maturity securities $ 8,168,441 $ 8,229,451 $ 8,265,949 Equity securities 269,795 212,917 210,491 Mortgage loans on real estate 7,696,533 7,550,110 4,666,910 Real estate 9,454,567 8,433,895 6,658,185 Policy and other loans 749,917 741,220 799,703 Short-term investments, principally gains on sale of mortgage loans 16,516,202 12,397,382 8,952,584 Gross investment income 42,855,455 37,564,975 29,553,822 Investment expenses (8,847,551) (9,261,235) (9,199,820) Net investment income $ 34,007,904 $ 28,303,740 $ 20,354,002 Net investment income includes net investment income earned by the restricted assets of the cemeteries and mortuaries of $369,632 , $356,369 and $341,430 for 2015, 2014 and 2013, respectively. Net investment income on real estate consists primarily of rental revenue received under short-term leases. Investment expenses consist primarily of depreciation, property taxes, operating expenses of real estate and an estimated portion of administrative expenses relating to investment activities. Securities on deposit for regulatory authorities as required by law amounted to $8,815,542 and $8,886,001 at December 31, 2015 and 2014, respectively. The restricted securities are included in various assets under investments on the accompanying consolidated balance sheets. Real Estate The Company continues to strategically deploy resources into real estate to match the income and yield durations of its primary obligations. The sources for these real estate assets come through its various business units in the form of acquisition, development and lending foreclosures. The Company reports real estate held for investment pursuant to the accounting policy discussed in Note 1 and Note 16 of the Notes to Consolidated Financial Statements. Commercial Real Estate Held for Investment The Company owns and manages commercial real estate assets as a means of generating investment income. These assets are acquired in accordance with the Company’s goals and objectives for risk-adjusted returns. Due diligence is conducted on each asset using internal and third party reports. Geographic locations and asset classes of the investment activity is determined by senior management under the direction of the Board of Directors. The Company employs full-time employees to attend to the day-to-day operations of those assets within the greater Salt Lake area and close surrounding markets. The Company utilizes third party property managers when the geographic boundary does not warrant full-time staff or through strategic lease-up periods. The Company generally looks to acquire assets in regions that are high growth regions for employment and population and in assets that provide operational efficiencies. The Company currently owns and operates 9 commercial properties in 5 states. These properties include industrial warehouses, office building and retail centers. The assets are primarily held without debt; however, the Company does use debt in strategic cases to leverage established yields or to acquire higher quality, or class, of asset. The following is a summary of the Company’s investment in commercial real estate for the periods presented: Net Ending Balance Total Square Footage December 31 December 31 2015 2014 2015 2014 Arizona $ 463,774 (1) $ 477,012 (1) 16,270 16,270 Kansas 11,537,335 10,103,497 222,679 222,679 New Mexico 7,000 (1) 7,000 (1) - - Texas 3,768,542 3,748,571 23,470 23,470 Utah 17,403,746 17,849,072 253,244 297,587 $ 33,180,397 $ 32,185,152 515,663 560,006 (1) Includes Vacant Land Residential Real Estate Held for Investment The Company owns a portfolio of residential homes primarily as a result of loan foreclosures. The strategy has been to lease these homes to produce cash flow, and allow time for the economic fundamentals to return to the various markets. Once the market for these homes return, the Company engages in the disposition of these assets at prices above the book value or at a discount far less than what would have been realized at the time of foreclosure. The Company established Security National Real Estate Services (“SNRE”) in 2013 to manage the residential portfolio. SNRE cultivates and maintains the preferred vendor relationships necessary to manage costs and quality of work performed on the portfolio of homes across the country. As of December 31, 2015, SNRE manages 142 residential properties in 11 states across the United States which includes a newly constructed apartment complex, Dry Creek at East Village, in Sandy Utah. The following is a summary of the Company’s investment in residential real estate for the periods presented: Net Ending Balance December 31 2015 2014 Arizona $ 944,614 $ 1,156,808 California 6,158,253 8,119,757 Colorado 553,230 751,825 Florida 9,203,624 10,715,478 Idaho - 276,321 Illinois 165,800 223,033 Louisiana - 323,570 Mississippi - 3,171 Nebraska - 77,247 Oklahoma 99,862 198,486 Oregon 120,000 1,018,245 South Carolina 823,872 850,000 Texas 1,198,860 1,815,373 Utah 62,117,738 (1) 53,410,703 (2) Washington 286,182 286,182 $ 81,672,035 $ 79,226,199 (1) Includes Dry Creek at East Village - 274,000 square feet with a net book value of $36,676,404 (2) Includes Dry Creek at East Village - 74,000 square feet with a net book value of $22,855,164 Real Estate Owned and Occupied by the Company The primary business units of the Company occupy a portion of the real estate owned by the Company. Currently, the Company occupies nearly 70,000 square feet, or 13% of the overall commercial real estate holdings. As of December 31, 2015, real estate owned and occupied by the company is summarized as follows: Location Business Segment Approximate Square Footage Square Footage Occupied by the Company 5300 South 360 West, Salt Lake City, UT (1) Corporate Offices, Life Insurance and Cemetery/Mortuary Operations 36,000 100% 5201 Green Street, Salt Lake City, UT Mortgage Operations 36,899 34% 3935 I-55 South Frontage Road, Jackson, MS (1) Life Insurance Operations 12,300 100% (1) These two assets are included in property and equipment on the Consolidated Balance Sheet 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 three 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 December 31, 2015, the Company has 51%, 14%, 10% and 8% of its mortgage loans from borrowers located in the states of Utah, California, Texas and Florida, respectively. The mortgage loans on real estate balances on the consolidated balance sheet are reflected net of an allowance for loan losses of $1,848,120 and $2,003,055 at December 31, 2015 and 2014, respectively. The Company establishes a valuation allowance for credit losses in its portfolio. The following is a summary of the allowance for loan losses as a contra-asset account for the periods presented: Allowance for Credit Losses and Recorded Investment in Mortgage Loans Years Ended December 31 Commercial Residential Residential Construction Total 2015 Allowance for credit losses: Beginning balance $ 187,129 $ 1,715,812 $ 100,114 $ 2,003,055 Charge-offs - (123,942) - (123,942) Provision - (30,993) - (30,993) Ending balance $ 187,129 $ 1,560,877 $ 100,114 $ 1,848,120 Ending balance: individually evaluated for impairment $ - $ 305,962 $ - $ 305,962 Ending balance: collectively evaluated for impairment $ 187,129 $ 1,254,915 $ 100,114 $ 1,542,158 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - Mortgage loans: Ending balance $ 33,522,978 $ 46,020,490 $ 34,851,557 $ 114,395,025 Ending balance: individually evaluated for impairment $ - $ 3,087,161 $ 93,269 $ 3,180,430 Ending balance: collectively evaluated for impairment $ 33,522,978 $ 42,933,329 $ 34,758,287 $ 111,214,594 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - 2014 Allowance for credit losses: Beginning balance $ 187,129 $ 1,364,847 $ 100,114 $ 1,652,090 Charge-offs - (38,444) - (38,444) Provision - 389,409 - 389,409 Ending balance $ 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 Years Ended December 31 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 2015 Commercial $ - $ - $ - $ - $ - $ 33,522,978 $ 33,522,978 $ (187,129) $ 33,335,849 Residential 1,162,102 884,143 2,212,993 3,087,161 7,346,399 38,674,091 46,020,490 (1,560,877) 44,459,613 Residential Construction - - 64,895 93,269 158,164 34,693,393 34,851,557 (100,114) 34,751,443 Total $ 1,162,102 $ 884,143 $ 2,277,888 $ 3,180,430 $ 7,504,563 $ 106,890,462 $ 114,395,025 $ (1,848,120) $ 112,546,905 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) There was not any interest income 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 Years Ended December 31 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized 2015 With no related allowance recorded: Commercial $ - $ - $ - $ - $ - Residential - - - - - Residential construction 93,269 93,269 - 93,269 - With an allowance recorded: Commercial $ - $ - $ - $ - $ - Residential 3,087,161 3,087,161 305,962 3,087,161 - Residential construction - - - - - Total: Commercial $ - $ - $ - $ - $ - Residential 3,087,161 3,087,161 305,962 3,087,161 - Residential construction 93,269 93,269 - 93,269 - 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 or greater delinquent 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 Years Ended December 31 Commercial Residential Residential Construction Total 2015 2014 2015 2014 2015 2014 2015 2014 Performing $ 33,522,978 $ 35,388,756 $ 40,720,336 $ 46,571,350 $ 34,693,393 $ 32,592,544 $ 108,936,707 $ 114,552,650 Non-performing - - 5,300,154 7,021,083 158,164 479,394 5,458,318 7,500,477 Total $ 33,522,978 $ 35,388,756 $ 46,020,490 $ 53,592,433 $ 34,851,557 $ 33,071,938 $ 114,395,025 $ 122,053,127 Non-Accrual Mortgage Loans Once a loan is past due 90 days, it is the policy of the Company 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 $268,000 and $535,000 as of December 31, 2015 and 2014, respectively. The following is a summary of mortgage loans on a non-accrual status for the periods presented. Mortgage Loans on Non-accrual Status Years Ended December 31 2015 2014 Residential $ 5,300,154 $ 7,021,083 Residential construction 158,164 479,394 Total $ 5,458,318 $ 7,500,477 Principal Amounts Due The amortized cost and contractual payments on mortgage loans on real estate and construction loans held for investment by category as of December 31, 2015 are shown below. Expected principal payments may differ from contractual obligations because certain borrowers may elect to pay off mortgage obligations with or without early payment penalties. Principal Principal Principal Amounts Amounts Amounts Due in Due in Due Total 2016 2017-2020 Thereafter Residential $ 46,020,490 $ 5,018,321 $ 12,625,406 $ 28,376,763 Residential Construction 34,851,557 29,806,506 5,045,051 - Commercial 33,522,978 22,884,669 7,983,293 2,655,017 Total $ 114,395,025 $ 57,709,496 $ 25,653,750 $ 31,031,779 Loan Loss Reserve 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 which is included in other liabilities and accrued expenses: December 31 2015 2014 Balance, beginning of period $ 1,718,150 $ 5,506,532 Provisions for losses 6,295,043 3,053,403 Charge-offs and settlements (5,207,293) (6,841,785) Balance, at December 31 $ 2,805,900 $ 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.

Note 3_ Receivables

Note 3: Receivables	12 Months Ended
	Dec. 31, 2015
Notes
Note 3: Receivables	3) Receivables Receivables consist of the following: December 31 2015 2014 Trade contracts $ 12,855,595 $ 12,166,838 Receivables from sales agents 3,280,423 1,951,677 Held in Escrow –Southern Security 245,088 278,331 Other 1,345,690 1,428,106 Total receivables 17,726,796 15,824,952 Allowance for doubtful accounts (1,700,696) (1,280,859) Net receivables $ 16,026,100 $ 14,544,093

Note 4_ Value of Business Acqui

Note 4: Value of Business Acquired	12 Months Ended
	Dec. 31, 2015
Notes
Note 4: Value of Business Acquired	4) Value of Business Acquired and Goodwill Information with regard to value of business acquired is as follows: December 31 2015 2014 Balance at beginning of year $ 8,547,627 $ 8,680,845 Value of business acquired 1,473,272 1,169,428 Imputed interest at 7% 590,108 591,412 Amortization (1,867,234) (1,894,058) Net amortization charged to income (1,277,126) (1,302,646) Balance at end of year $ 8,743,773 $ 8,547,627 Presuming no additional acquisitions, net amortization charged to income is expected to approximate $1,199,000 , $1,115,000 , $1,037,000 , $947,000 , and $873,000 for the years 2016 through 2020. Actual amortization may vary based on changes in assumptions or experience. As of December 31, 2015, value of business acquired is being amortized over a weighted average life of 6.0 years. Information with regard to goodwill acquired is as follows: December 31 2015 2014 Balance at beginning of year $ 2,765,570 $ 677,039 Goodwill acquired - 2,373,722 (1) Other - (285,191) (2) Balance at end of year $ 2,765,570 $ 2,765,570 (1) Goodwill acquired due to the acquisition of American Funeral Financial in 2014. (2) Goodwill eliminated due to the sale of Paradise Chapel Funeral Home assets in 2014. Goodwill is not amortized but tested annually for impairment. The annual impairment tests resulted in no impairment of goodwill.

Note 5_ Property and Equipment

Note 5: Property and Equipment	12 Months Ended
	Dec. 31, 2015
Notes
Note 5: Property and Equipment	5) Property and Equipment The cost of property and equipment is summarized below: December 31 2015 2014 Land and buildings $ 13,126,195 $ 11,904,100 Furniture and equipment 16,613,862 15,822,957 29,740,057 27,727,057 Less accumulated depreciation (18,298,397) (16,419,343) Total $ 11,441,660 $ 11,307,714 Depreciation expense for the years ended December 31, 2015, 2014 and 2013 was $2,183,496 , $2,177,165 and $1,621,069 respectively.

Note 6_ Bank and Other Loans Pa

Note 6: Bank and Other Loans Payable	12 Months Ended
	Dec. 31, 2015
Notes
Note 6: Bank and Other Loans Payable	6) Bank and Other Loans Payable Bank loans payable are summarized as follows: December 31 2015 2014 6.34% note payable in monthly installments of $13,556 including principal and interest, collateralized by real property with a book value of approximately $498,000, due November 2017. $ 312,240 $ 466,937 2.50% note payable in monthly principal payments of $11,127 plus interest, collateralized by real property with a book value of approximately $5,815,000, due May 2016. 3,260,266 3,398,099 Mark to market of interest rate swaps (discussed below) adjustment 13,947 31,370 3.85% note payable in monthly installments of $79,468 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, paid in full. - 461,889 3.85% note payable in monthly installments of $86,059 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due January 2018. 2,062,512 2,994,999 4.40% note payable in monthly installments of $46,825 including principal and interest, collateralized by real property with a book value of approximately $11,989,000, due January 2026. 8,135,438 8,333,550 4.329% note payable in monthly installments of $9,775 including principal and interest, collateralized by real property with a book value of approximately $3,089,000, due September 2025. 2,020,993 - 2.75% above the 90 day LIBOR rate (3.1523% at December 31, 2015) construction and term loan payable, collateralized by real property with a book value of approximately $36,676,000, due October 2016. 24,933,346 13,085,189 Other collateralized bank loans payable 169,212 247,384 Other notes payable 961 961 Total bank and other loans 40,908,915 29,020,378 Less current installments 29,638,052 5,248,043 Bank and other loans, excluding current installments $ 11,270,863 $ 23,772,335 During 2001, the Company entered into an interest rate swap instrument that effectively fixed the interest rate on the note payable at 6.34% per annum. Management considers the interest rate swap instrument an effective cash flow hedge against the variable interest rate on the bank note since the interest rate swap mirrors the term of the note payable and expires on the maturity date of the bank loan it hedges. The interest rate swap is a derivative financial instrument carried at its fair value. In the event the swap is terminated, any resulting gain or loss would be deferred and amortized to interest expense over the remaining life of the bank loan it hedged. In the event of early extinguishment of the hedged bank loan, any realized or unrealized gain or loss from the hedging swap would be recognized in income coincident with the extinguishment. At December 31, 2015 and 2014, the fair value of the interest rate swap was an unrealized loss of $13,947 and $31,370, respectively, and was computed based on the underlying variable Libor rate plus 1.65%, or 2.65% per annum. The unrealized loss resulted in a derivative liability of $13,947 and $31,370 and has been reflected in accumulated other comprehensive income. The change in accumulated other comprehensive income from the interest rate swap in 2015 and 2014 was $17,423 and $26,940, respectively. The fair value of the interest rate swap was derived from a proprietary model of the bank from whom the interest rate swap was purchased and to whom the note is payable. The Company has a $2,000,000 revolving line-of-credit with a bank with interest payable at the prime rate minus .75% (2.75% at December 31, 2015), secured by the capital stock of Security National Life and maturing June 30, 2016, renewable annually. At December 31, 2015, the Company was contingently liable under a standby letter of credit aggregating $576,776, to be used as collateral to cover any contingency related to additional risk assessments pertaining to the Company's captive insurance program. The Company does not expect any material losses to result from the issuance of the standby letter of credit because claims are not expected to exceed premiums paid. The Company has a $15,000,000 revolving line-of-credit with a bank with interest payable at the variable overnight Libor rate plus 2% (2.375% at December 31, 2015), secured by bond investments of the Company and maturing June 30, 2016. At December 31, 2015, the Company was contingently liable under a standby letter of credit aggregating $48,220, issued as a security deposit to guarantee payment of final bills for electric and gas utility services for a commercial real estate property owned by the Company in Wichita, Kansas. As of December 31, 2015, there were no amounts outstanding under the revolving line-of-credit. The Company has a $2,150,000 revolving line-of-credit with a bank with interest payable at the prime rate plus 1.25% (4.75% at December 31, 2015), secured by the capital stock of Security National Life and maturing June 30, 2016. At December 31, 2015, SecurityNational Mortgage was contingently liable under a standby letter of credit aggregating $1,250,000, to be used as collateral to cover any contingency relating to claims filed in states where SecurityNational Mortgage is licensed. The Company does not expect any material losses to result from the issuance of the standby letter of credit. As of December 31, 2015, there were no amounts outstanding under the revolving line-of-credit. The Company has an $8,700,000 revolving line-of-credit with a bank with interest payable at the prime rate plus 2.50% (6.00% at December 31, 2015), secured by real estate and maturing June 30, 2016. As of December 31, 2015, there were no amounts outstanding under the revolving line-of-credit. The following tabulation shows the combined maturities of bank loans payable, lines of credit and notes and contracts payable: 2016 $ 29,638,052 2017 1,451,815 2018 372,668 2019 286,967 2020 298,283 Thereafter 8,861,130 Total $ 40,908,915 Interest paid approximated interest expense in 2015, 2014 and 2013, which was $4,458,612 , $2,994,429 and $2,853,701 , respectively.

Note 7_ Cemetery and Mortuary E

Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds	12 Months Ended
	Dec. 31, 2015
Notes
Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds	7) Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds The Company is required by state law to pay into perpetual care trusts a portion of the proceeds from the sale of cemetery property interment rights. The related cemetery perpetual care trusts are defined as variable interest entities pursuant to generally accepted accounting principles. Also, management has determined that the Company is the primary beneficiary of these trusts, as it absorbs both a majority of the losses and returns associated with the trusts. The Company has consolidated cemetery perpetual care trust investments with a corresponding amount recorded as Cemetery Perpetual Care Obligation in the accompanying consolidated balance sheets . The components of the cemetery perpetual care obligation are as follows: December 31 2015 2014 Trust investments, at market value $ 2,848,759 $ 2,645,423 Note receivables from Cottonwood Mortuary Singing Hills Cemetery and Memorial Estates eliminated in consolidation 1,780,618 1,847,892 Total trust assets 4,629,377 4,493,315 Cemetery perpetual care obligation (3,465,771) (3,406,718) Fair value of trust assets in excess of trust obligations $ 1,163,606 $ 1,086,597 The Company has established and maintains certain restricted trust investments to provide for future merchandise and service obligations incurred in connection with its pre-need sales. Also included in cash and cash equivalents are escrows held for borrowers under servicing agreements relating to mortgage loans, funds held by warehouse banks in accordance with loan purchase agreements and funds held in escrow for the construction of a 282-unit multifamily development in Sandy City, Utah. Assets in the restricted asset account are summarized as follows: December 31 2015 2014 Cash and cash equivalents $ 7,206,863 $ 7,274,685 Mutual funds 596,994 627,154 Fixed maturity securities 8,775 8,775 Equity securities 89,450 88,048 Participating in mortgage loans with Security National Life 1,457,720 1,349,135 Total $ 9,359,802 $ 9,347,797 A surplus note receivable in the amount of $4,000,000 at December 31, 2015 and 2014, from Security National Life, was eliminated in consolidation.

Note 8_ Income Taxes

Note 8: Income Taxes	12 Months Ended
	Dec. 31, 2015
Notes
Note 8: Income Taxes	8) Income Taxes The Company’s income tax liability (benefit) is summarized as follows: December 31 2015 2014 Current $ (215,366) $ (333,350) Deferred 25,267,425 20,755,117 Total $ 25,052,059 $ 20,421,767 Significant components of the Company’s deferred tax (assets) and liabilities are approximately as follows: December 31 2015 2014 Assets Future policy benefits $ (8,023,302) $ (6,856,001) Loan loss reserve (1,163,700) (670,078) Unearned premium (1,610,684) (1,687,059) Available for sale securities (150,984) (125,797) Net operating loss (588,537) (1,738,137) Deferred compensation (1,994,927) (1,279,860) Deposit obligations (1,026,984) (1,018,313) Other (2,242,029) (1,398,152) Less: Valuation allowance 5,276,431 5,276,431 Total deferred tax assets (11,524,716) (9,496,966) Liabilities Deferred policy acquisition costs 14,838,604 12,271,954 Basis difference in property and equipment 9,375,146 7,049,551 Value of business acquired 2,972,883 2,906,193 Deferred gains 6,902,888 5,472,003 Trusts 1,599,657 1,599,657 Tax on unrealized appreciation 1,102,963 952,725 Total deferred tax liabilities 36,792,141 30,252,083 Net deferred tax liability $ 25,267,425 $ 20,755,117 The valuation allowance relates to differences between recorded deferred tax assets and liabilities and ultimate anticipated realization. The valuation allowance decreased $-0- and $316,632 during 2015 and 2014, respectively. The Company paid $2,716,161, $408,939 and $4,009,598 in income taxes for 2015, 2014 and 2013, respectively. The Company’s income tax expense (benefit) is summarized as follows for the years ended December 31: 2015 2014 2013 Current Federal $ 2,423,846 $ 1,532,539 $ 1,564,311 State 412,175 121,124 257,228 2,836,021 1,653,663 1,821,539 Deferred Federal 4,001,873 2,677,319 399,919 State 360,791 395,323 16,348 4,362,664 3,072,642 416,269 Total $ 7,198,685 $ 4,726,305 $ 2,237,806 The reconciliation of income tax expense at the U.S. federal statutory rates is as follows: 2015 2014 2013 Computed expense at statutory rate $ 6,739,332 $ 4,243,524 $ 3,340,067 State tax expense, net of federal tax benefit 510,158 340,855 180,560 Tax audit settlements - - 20,371 Other, net (50,805) 141,926 (1,303,192) Tax expense (benefit) $ 7,198,685 $ 4,726,305 $ 2,237,806 At December 31, 2015, the Company had no significant unrecognized tax benefits. As of December 31, 2015, the Company does not expect any material changes to the estimated amount of unrecognized tax benefits in the next twelve months. Federal and state income tax returns for 2012 through 2015 are subject to examination by taxing authorities. An examination of the Company’s 2012 federal income tax return was concluded without adjustment.

Note 9_ Reinsurance, Commitment

Note 9: Reinsurance, Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Notes
Note 9: Reinsurance, Commitments and Contingencies	9) Reinsurance, Commitments and Contingencies Reinsurance The Company follows the procedure of reinsuring risks in excess of a specified limit, which ranged from $25,000 to $100,000 during the years 2015 and 2014. The Company is liable for these amounts in the event such reinsurers are unable to pay their portion of the claims. The Company has also assumed insurance from other companies having insurance in force amounting to approximately $2,110,480,000 (unaudited) and approximately $1,462,340,000 (unaudited) at December 31, 2015 and 2014, respectively. 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. Reinsurance Agreement with LJA Insurance Company On December 19, 2014, the Company entered into a Coinsurance Funds Withheld Reinsurance Agreement with LJA Insurance Company (“LJA Insurance”), a Republic of the Marshall Islands domiciled insurance company. This agreement was effective November 1, 2014. Under the terms of the funds withheld agreement, the Company ceded to LJA Insurance 100% of three blocks of deferred annuities in the amount of $4,337,000 and retained the assets and recorded a funds held under coinsurance liability for the same amount. LJA Insurance agreed to pay the Company an initial ceding commission of $60,000 and an asset management fee of $16,000 per quarter to administer the policies. The Company will also receive a 90% experience refund for any profits from the business. The Company has the right to recapture the business by giving LJA Insurance 90 days written notice, or it may be terminated by mutual consent of both parties. Mortgage Loan Loss Settlements Future loan losses can be extremely difficult to estimate; however, management believes that the Company’s reserve methodology and its current practice of property preservation allow it to estimate potential losses on loans sold. The amounts expensed for loan losses in years ended December 31, 2015 and 2014 were $6,295,000 and $3,053,000, respectively. The estimated liability for indemnification losses is included in other liabilities and accrued expenses and, as of December 31, 2015 and 2014, the balances were $2,806,000 and $1,718,000, respectively. 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 Lehman Brothers and Aurora Loan Services Litigation - Utah On April 15, 2005, SecurityNational Mortgage entered into a Loan Purchase Agreement with Lehman Brothers Bank, FSB (“Lehman Bank”), which agreement incorporated a Seller’s Guide. Pursuant to the Loan Purchase Agreement, Lehman Bank purchased mortgage loans from time to time from SecurityNational Mortgage. Lehman Bank asserted that certain of the mortgage loans that it purchased several years ago from SecurityNational Mortgage contained alleged misrepresentations and early payment defaults. As a result, Lehman Bank contended it had the right to require SecurityNational Mortgage to repurchase certain loans or be liable for losses related to such Loans under the Loan Purchase Agreement. SecurityNational Mortgage disagreed with these claims. On December 17, 2007, SecurityNational Mortgage entered into an Indemnification Agreement with Lehman Bank and Aurora Loan Services. Under the terms of the Indemnification Agreement, SecurityNational Mortgage agreed to indemnify Lehman Bank and Aurora Loan Services for 75% of actual losses, as defined, that Lehman Bank and Aurora Loan Services may incur on account of the breaches pertaining to certain identified loans. The Indemnification Agreement also required SecurityNational Mortgage to indemnify Lehman Bank and Aurora Loan Services for 100% of any future actual losses, as defined, incurred on mortgage loans with breaches not covered by the 75% provision. A reserve account was set up for covering said losses. In addition to initial payments into the reserve account, SecurityNational Mortgage was to pay to Aurora Loan Services each calendar month the difference between the reserve account balance and $645,000, but in no event would SecurityNational Mortgage be required to make payments into the reserve account in excess of $125,000 for any calendar month. Since the time the reserve account was established, approximately $4,300,000 was taken from the reserve account to indemnify Lehman Bank and Aurora Loan Services for alleged losses. On March 28, 2011 Lehman Bank and Aurora Loan Services assigned certain rights and remedies under the Indemnification Agreement to Lehman Brothers Holdings Inc. (“Lehman Holdings”). On May 11, 2011, SecurityNational Mortgage filed a complaint against Aurora Bank FSB (formerly known as Lehman Bank) and Aurora Loan Services in the United States District Court, Utah, which was assigned to Judge David Nuffer. The allegations in the complaint include breach of the Indemnification Agreement. SecurityNational Mortgage claimed it was entitled to a judgment of approximately $4,000,000 against Lehman Bank, as well as Aurora Loan Services to the extent of its involvement, for payments which should not have been taken from the reserve account. On June 8, 2011, Lehman Holdings, which had filed for bankruptcy in September 2008, filed a complaint in the United States District Court, Utah against SecurityNational Mortgage. The case was assigned to Judge Ted Stewart. The complaint alleged claims for damages for breach of contract and breach of warranty pursuant to the Loan Purchase Agreement, and initially claimed damages in excess of $5,000,000. Lehman Holdings further alleged that Lehman Bank sold mortgage loans to it and assigned the contractual rights. SecurityNational Mortgage strongly disagreed with the claims in Lehman Holdings’ complaint. Discovery was completed in the two foregoing lawsuits. On December 24, 2014, Judge Nuffer issued an amended order granting SecurityNational Mortgage’s motion for summary judgment against Lehman Bank and Aurora Loan Services for $3,892,974, plus prejudgment interest at 9% per annum. The total amount of prejudgment interest awarded was $1,674,240 through May 31, 2014, with a per diem of $960 for each day after May 31, 2014 until final judgment. The court also indicated that further replenishment of the reserve account under the Indemnification Agreement appeared to be barred by a waiver, but that this issue had not been briefed. Additionally, the court stated that the offset that Lehman Bank and Aurora Loan Services pled as an affirmative defense had not yet been adjudicated by the court. SecurityNational Mortgage asserts that Lehman Bank and Aurora Loan Services have no rights to a replenishment of the Indemnification Agreement reserve account, or for any offset. On March 30, 2015, SecurityNational Mortgage filed a response in opposition to the partial summary judgment motion of Lehman Bank and Aurora Loan Services concerning the reserve account replenishment and offset; SecurityNational Mortgage also filed its own partial summary judgment motion on the same issues. These motions are currently under advisement. On April 21, 2015, Judge Stewart issued a memorandum decision and order denying SecurityNational Mortgage’s motion for summary judgment against Lehman Holdings in the Lehman Holdings case. On January 16, 2015, SecurityNational Mortgage filed a separate motion for summary judgment against Lehman Holdings based on the statute of limitations. Because certain cases that arose in Colorado were pending before the United States Court of Appeals for the Tenth Circuit concerning statute of limitations issues involving Lehman Holdings, Judge Stewart inquired at a hearing as to whether his ruling on SecurityNational Mortgage’s motion should be held in abeyance until a ruling is rendered by the Tenth Circuit. The parties agreed to an abeyance and Judge Stewart issued an order on May 11, 2015 postponing his ruling. On January 27, 2016, the Tenth Circuit entered its order and judgment concerning the five cases before it upholding rulings of the U.S. District Court, Colorado dismissing the cases filed by Lehman Holdings with prejudice. Pursuant to an order from Judge Stewart, SecurityNational Mortgage and Lehman Holdings filed supplemental briefs on March 3, 2016 pertaining to SecurityNational Mortgage’s summary judgment motion in view of the ruling of the Tenth Circuit. On March 23, 2016, the court denied SecurityNational Mortgage’s motion based on a certain tolling provision in one of the agreements. Lehman Brothers Litigation – Delaware and New York In January 2014, Lehman Holdings entered into a settlement with the Federal National Mortgage Association (Fannie Mae) concerning the mortgage loan claims asserted by Fannie Mae against Lehman Holdings that were allegedly based on breaches of certain representations and warranties by Lehman Holdings. Lehman Holdings had acquired these loans from Lehman Bank, which in turn purchased the loans from residential mortgage loan originators, including SecurityNational Mortgage. A settlement based on similar circumstances was entered into between Lehman Holdings and the Federal Home Loan Mortgage Corporation (Freddie Mac) in February 2014. As a result of the Fannie Mae and Freddie Mac settlements, Lehman Holdings filed a motion in May 2014 with the U.S. Bankruptcy Court of the Southern District of New York to require the mortgage loan originators, including SecurityNational Mortgage, to engage in mediation, a nonbinding alternative dispute resolution process, as Lehman Holdings asserted alleged indemnification claims against the mortgage loan originators. The mediation was not successful in resolving the potential issues between SecurityNational Mortgage and Lehman Holdings relative to the Fannie Mae and Freddie Mac settlements with Lehman Holdings. On January 26, 2016, SecurityNational Mortgage filed a declaratory judgment action against Lehman Holdings in the Superior Court for the State of Delaware. In the Delaware action, SecurityNational Mortgage asserted its right to obtain a declaration of rights in that there is allegedly millions of dollars in dispute with Lehman Holdings pertaining to approximately 136 loans. SecurityNational Mortgage seeks declaratory judgment as to its rights as it contends that it has no liability to Lehman Holdings as a result of Lehman Holdings’ settlements with Fannie Mae and Freddie Mac. On February 3, 2016, Lehman Holdings filed an adversary proceeding against approximately 150 parties, including SecurityNational Mortgage, in the U.S. Bankruptcy Court of the Southern District of New York seeking a declaration of rights similar in nature to the declaration of rights that SecurityNational Mortgage seeks in its Delaware lawsuit, and for damages relating to the defendants’ obligations under indemnification provisions of the alleged agreements in an amount to be determined at trial, including interest, and attorneys’ fees and related costs incurred by Lehman Holdings in enforcing the obligations of the defendants. The complaint filed on February 3, 2016 was not served on SecurityNational Mortgage and an amended complaint materially similar to the original complaint was filed March 7, 2016. As with SecurityNational Mortgage’s Delaware action, and although SecurityNational Mortgage has not yet filed a response to the amended complaint, SecurityNational Mortgage denies that it has any liability to Lehman Holdings and intends to vigorously protect and defend such position. Non-Cancelable Leases The Company leases office space and equipment under various non-cancelable agreements, with remaining terms up to five years. Minimum lease payments under these non-cancelable operating leases as of December 31, 2015, are approximately as follows: Years Ending December 31 2016 $ 5,447,528 2017 4,520,592 2018 2,493,007 2019 1,036,826 2020 218,923 Total $ 13,716,876 Total rent expense related to non-cancelable operating leases for the years ended December 31, 2015, 2014, and 2013 was approximately $7,199,000 , $5,589,000 and $4,307,000 , respectively. Other Contingencies and Commitments The Company has entered into commitments to fund new residential construction loans. As of December 31, 2015, the Company’s commitments were $61,067,000, for these loans of which $34,852,000 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 (3.50% as of December 31, 2015). Maturities range between six and twelve months. The Company belongs to a captive insurance group for certain casualty insurance, worker compensation and liability programs. Insurance reserves are maintained relative to these programs. The level of exposure from catastrophic events is limited by the purchase of stop-loss and aggregate liability reinsurance coverage. When estimating the insurance liabilities and related reserves, the captive insurance management considers a number of factors, which include historical claims experience, demographic factors, severity factors and valuations provided by independent third-party actuaries. If actual claims or adverse development of loss reserves occurs and exceed these estimates, additional reserves may be required. The estimation process contains uncertainty since captive insurance management must use judgment to estimate the ultimate cost that will be incurred to settle reported claims and unreported claims for incidents incurred but not reported as of the balance sheet date. At December 31, 2015, $834,855 of reserves was established related to such insurance programs versus $929,417 at December 31, 2014. The Company is a defendant in various other legal actions arising from the normal conduct of business. Management believes that none of the actions will have a material effect on the Company’s financial position or results of operations. Based on management’s assessment and legal counsel’s representations concerning the likelihood of unfavorable outcomes, no amounts have been accrued for the above claims in the consolidated financial statements. 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.

Note 10_ Retirement Plans

Note 10: Retirement Plans	12 Months Ended
	Dec. 31, 2015
Notes
Note 10: Retirement Plans	10) Retirement Plans The Company and its subsidiaries have a noncontributory Employee Stock Ownership Plan (ESOP) for all eligible employees. Eligible employees are primarily those with more than one year of service, who work in excess of 1,000 hours per year. Contributions, which may be in cash or stock of the Company, are determined annually by the Board of Directors. The Company’s contributions are allocated to eligible employees based on the ra tio of each eligible employee’s compensation to total compensation for all eligible employees during each year. At December 31, 2015, the ESOP held 554,845 shares of Class A and 252,974 shares of Class C common stock of the Company. All shares held by the ESOP have been allocated to the participating employees and all shares held by the ESOP are considered outstanding for purposes of computing earnings per share. The Company has three 401(k) savings plans covering all eligible employees, as defined above, which includes employer participation in accordance with the provisions of Section 401(k) of the Internal Revenue Code. The plans allow participants to make pretax contributions up to a maximum of $18,000 , $17,500 and $17,000 for the years 2015, 2014 and 2013, respectively or the statutory limits. Beginning January 1, 2008, the Company elected to be a “Safe Harbor” Plan for its matching 401(k) contributions. The Company matched 100% of up to 3% of an employee’s total annual compensation and matched 50% of 4% to 5% of an employee’s annual compensation. The match was in Company stock. The Company’s contribution for 2015, 2014 and 2013 was $1,197,236, $808,572 and $749,898, respectively under the “Safe Harbor” plan. In 2001, the Company’s Board of Directors adopted a Deferred Compensation Plan. Under the terms of the Plan, the Company will provide deferred compensation for a select group of management or highly compensated employees, within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended. The Board has appointed a Committee of the Company to be the Plan Administrator and to determine the employees who are eligible to participate in the plan. The employees who participate may elect to defer a portion of their compensation into the plan. The Company may contribute into the plan at the discretion of the Company’s Board of Directors. The Company did not make any contributions for 2015, 2014 and 2013. The Company had a deferred compensation agreement with its past Chief Executive Officer. The deferred compensation was payable on the retirement or death of this individual either in annual installments over 10 years or in a lump sum settlement, if approved by the Board of Directors. The amount to be paid was $60,000 per year with cost of living adjustments each anniversary. The compensation agreement also provided that any remaining balance would be paid to his heirs in the event of his death. In 2014, the Board of Directors approved a lump sum for the payment of $598,426 , which represented a full and final payment. On July 16, 2004, the Company entered into an employment agreement with Scott M. Quist, the Chairman of the Board, President and Chief Executive Officer. The agreement is effective as of December 4, 2003 and has a five-year term, but the Company has agreed to renew the agreement on December 4, 2008 and 2013 for additional five-year terms, provided Mr. Quist performs his duties with usual and customary care and diligence. Under the terms of the agreement, Mr. Quist is to devote his full time to the Company serving as its Chairman of the Board, President, and Chief Executive Officer at not less than his current salary and benefits. The Company also agrees to maintain a group term life insurance policy of not less than $1,000,000 on Mr. Quist’s life and a whole life insurance policy in the amount of $500,000 on Mr. Quist’s life. In the event of disability, Mr. Quist’s salary would be continued for up to five years at 75% of its current level. In the event of a sale or merger of the Company and Mr. Quist is not retained in his current position, the Company would be obligated to continue Mr. Quist’s current compensation and benefits for seven years following the merger or sale. The agreement further provides that Mr. Quist is entitled to receive annual retirement benefits beginning (i) one month from the date of his retirement (to commence no sooner than age 65), (ii) five years following complete disability, or (iii) upon termination of his employment without cause. These retirement benefits are to be paid for a period of twenty years in annual installments in the amount equal to 75% of his then current rate of compensation. However, in the event that Mr. Quist dies prior to receiving all retirement benefits there under, the remaining benefits are to be paid to his heirs. The Company expensed $999,961 , $833,183 and $264,000 in fiscal 2015, 2014 and 2013, respectively, to cover the present value of anticipated retirement benefits under the employment agreement. The liability accrued is $3,264,925 and $2,270,425 as of December 31, 2015 and 2014, respectively. On December 31, 2015, J. Lynn Beckstead, Jr., who served as Vice President of Mortgage Operations and President of SecurityNational Mortgage, retired from the Company. Under the terms of the employment agreement that the Company, through its wholly owned subsidiary, SecurityNational Mortgage, had entered into with Mr. Beckstead, Mr. Beckstead is entitled to receive retirement benefits from the Company for a period of ten years in an amount equal to 50% of his current rate of compensation at the time of his retirement, which was $267,685 for the year ended December 31, 2015. Such retirement payments will be made during the ten year period at regular Company pay periods. In determining Mr. Beckstead’s current rate of compensation, stock option grants and incentive or similar bonuses are not included. In the event Mr. Beckstead dies prior to receiving all of his retirement benefits under his employment agreement, the remaining benefits will be made to his heirs. The Company expensed $320,039 , $154,817 and $-0- in fiscal 2015, 2014 and 2013, respectively, to cover the present value of the retirement benefits under the employment agreement. The liability accrued was $1,093,720 and $768,220 as of December 31, 2015 and 2014, respectively.

Note 11_ Capital Stock

Note 11: Capital Stock	12 Months Ended
	Dec. 31, 2015
Notes
Note 11: Capital Stock	11) Capital Stock The Company has two classes of common stock with shares outstanding, Class A common shares and Class C common shares. Class C shares have 10 votes per share on all matters except for the election of one third of the directors who are elected solely by the Class A shares. Class C shares are convertible into Class A shares at any time on a one to one ratio. The decrease in treasury stock was the result of treasury stock being used to fund the company’s 401(k) and Deferred Compensation Plans. Stockholders of both classes of common stock have received 5% stock dividends in the years 1990 through 2015, as authorized by the Company’s Board of Directors. The Company has Class B common stock of $1.00 par value, 5,000,000 shares authorized, of which none are issued. Class B shares are non-voting stock except to any proposed amendment to the Articles of Incorporation which would affect Class B common stock. On July 2, 2014, the stockholders The reverse stock split and weighted voting of the Company's Class C common stock became effective on August 1, 2014, when the Articles of Restatement and Amendment to the Company's Articles of Incorporation were filed with the Utah Division of Corporations and Commercial Code. The reverse stock split affected all of the holders of the Company's Class C common stock uniformly but did not affect any Class C stockholder's percentage ownership interest in the Company or proportionate voting power, except for insignificant changes that resulted from the rounding up of fractional shares. Additionally, the reverse stock split did not impact the existing shares of Class A common stock. The following table summarizes the activity in shares of capital stock for the three-year period ended December 31, 2015: Class A Class C (1) Balance at December 31, 2012 10,843,576 1,097,410 Exercise of stock options 359,786 211,211 Stock dividends 562,152 63,342 Conversion of Class C to Class A 41,773 (41,773) Balance at December 31, 2013 11,807,287 1,330,191 Exercise of stock options 54,412 - Stock dividends 595,020 66,384 Reverse stock split true up - 15 Conversion of Class C to Class A 2,521 (2,521) Balance at December 31, 2014 12,459,240 1,394,069 Exercise of stock options 23,961 241,652 Stock dividends 624,483 75,335 Conversion of Class C to Class A 1,416 (1,416) Balance at December 31, 2015 13,109,100 1,709,640 (1) Class C shares have been retroactively adjusted for the effect of the 1-for-10 reverse stock split that was approved by the stockholders in 2014. Earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. In accordance with accounting principles generally accepted in the United States of America, the basic and diluted earnings per share amounts were calculated as follows: 2015 2014 2013 Numerator: Net earnings $ 12,622,880 $ 7,754,648 $ 7,585,921 Denominator: Denominator for basic earnings per share-weighted-average shares 13,722,201 13,176,187 13,023,473 Effect of dilutive securities Employee stock options 488,151 429,729 646,324 Dilutive potential common shares 488,151 429,729 646,324 Denominator for diluted earnings (loss) per share-adjusted weighted-average shares and assumed conversions 14,210,352 13,605,916 13,669,797 Basic earnings per share $0.92 $0.59 $0.58 Diluted earnings per share $0.89 $0.57 $0.55

Note 12_ Stock Compensation Pla

Note 12: Stock Compensation Plans	12 Months Ended
	Dec. 31, 2015
Notes
Note 12: Stock Compensation Plans	12) Stock Compensation Plans 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 $387,608 , $391,220 and $88,369 has been recognized under these plans for 2015, 2014 and 2013, respectively. As of December 31, 2015, the total unrecognized compensation expense related to the options issued in December 2015 was $312,589, which is expected to be recognized over the vesting period of one year. The weighted-average fair value of each option granted in 2015 under the 2013 Plan and the 2014 Director Plan, is estimated at $1.61 for the December 4, 2015 options as of the grant date using the Black Scholes Option Pricing Model with the following assumptions: dividend yield of 5%, volatility of 43.15%, risk-free interest rate of 1.83%, and an expected term of 5.32 years. The weighted-average fair value of each option granted in 2015 under the 2014 Director Plan, is estimated at $1.61 for the December 7, 2015 options as of the grant date using the Black Scholes Option Pricing Model with the following assumptions: dividend yield of 5%, volatility of 43.11%, risk-free interest rate of 1.80%, and an expected term of 5.32 years. The weighted-average fair value of each option granted in 2014 under the 2013 Plan, is estimated at $1.74 for the July 2, 2014 options as of the grant date using the Black Scholes Option Pricing Model with the following assumptions: dividend yield of 5%, volatility of 57.77%, risk-free interest rate of 1.79%, and an expected term of 5.32 years. The weighted-average fair value of each option granted in 2014 under the 2013 Plan and the 2014 Director Plan, is estimated at $1.56 for the December 5, 2014 options as of the grant date using the Black Scholes Option Pricing Model with the following assumptions: dividend yield of 5%, volatility of 52.31%, risk-free interest rate of 1.69%, and an expected term of 5.31 years. The weighted-average fair value of each option granted in 2014 under the 2014 Director Plan, is estimated at $1.56 for the December 7, 2014 options as of the grant date using the Black Scholes Option Pricing Model with the following assumptions: dividend yield of 5%, volatility of 52.27%, risk-free interest rate of 1.76%, and an expected term of 5.31 years. The weighted-average fair value of each option granted in 2013 under the 2013 Plan and the 2006 Director Plan, is estimated at $1.96 for the December 5, 2013 and December 7, 2013 options as of the grant date using the Black Scholes Option Pricing Model with the following assumptions: dividend yield of 5%, volatility of 67.93%, risk-free interest rate of 1.68%, and an expected term of 5.31 years. 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 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. Activity of the stock option plans is summarized as follows: Number of Class A Shares Weighted Average Exercise Price Number of Class C Shares Weighted Average Exercise Price Outstanding at December 31, 2012 972,253 $ 2.07 583,851 $ 2.18 Adjustment for the effect of stock dividends 17,962 24,222 Granted 81,960 50,000 Exercised (485,366) (190,602) Cancelled (76,676) (63,814) Reclass from A to C (105,000) 105,000 Outstanding at December 31, 2013 405,133 $ 2.41 508,657 $ 2.00 Adjustment for the effect of stock dividends 24,446 32,934 Granted 173,500 150,000 Exercised (59,713) - Cancelled (30,571) - Outstanding at December 31, 2014 512,795 $ 3.20 691,591 $ 2.54 Adjustment for the effect of stock dividends 29,335 27,497 Granted 133,500 100,000 Exercised (26,850) (241,652) Cancelled (30,519) - Outstanding at December 31, 2015 618,261 $ 3.89 577,436 $ 3.54 Exercisable at end of year 478,086 $ 3.16 472,436 $ 2.77 Available options for future grant 454,842 57,750 Weighted average contractual term of options outstanding at December 31, 2015 7.67 years 2.75 years Weighted average contractual term of options exercisable at December 31, 2015 7.01 years 2.2 years Aggregated intrinsic value of options outstanding at December 31, 2015 (1) $1,473,046 $1,639,692 Aggregated intrinsic value of options exercisable at December 31, 2015 (1) $1,473,046 $1,639,692 (1) The Company used a stock price of $6.24 as of December 31, 2015 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 years ended December 31, 2015 and 2014 was $1,190,879 and $173,650 , respectively.

Note 13_ Statutory Financial In

Note 13: Statutory Financial Information and Dividend Limitations	12 Months Ended
	Dec. 31, 2015
Notes
Note 13: Statutory Financial Information and Dividend Limitations	13) Statutory Financial Information and Dividend Limitations The Company’s insurance subsidiaries prepare their statutory-basis financial statements in conformity with accounting practices prescribed or permitted by the insurance department of the applicable state of domicile. Prescribed statutory accounting practices include a variety of publications of the National Association of Insurance Commissioners (“NAIC”), as well as state laws, regulations and general administrative rules. Permitted statutory accounting practices encompass all accounting practices not so prescribed. All states require domiciled insurance companies to prepare statutory-basis financial statements in conformity with the NAIC Accounting Practices and Procedures Manual, subject to any deviations prescribed or permitted by the applicable insurance commissioner and/or director. Statutory accounting practices differ from GAAP primarily since they require charging policy acquisition and certain sales inducement costs to expense as incurred, establishing life insurance reserves based on different actuarial assumptions, and valuing certain investments and establishing deferred taxes on a different basis. Statutory net income and capital and surplus of the Company’s insurance subsidiaries, determined in accordance with statutory accounting practices prescribed or permitted by insurance regulatory authorities are as follows: Net Income Capital and Surplus 2015 2014 2013 2015 2014 Amounts by insurance subsidiary: Security National Life Insurance Company $ 3,478,338 $ 5,137,208 $ 1,283,311 $ 32,771,066 $ 34,356,157 Memorial Insurance Company of America 49 415 237 1,082,059 1,082,587 Southern Security Life Insurance Company, Inc. 491 467 1,288 1,590,605 1,590,424 Trans-Western Life Insurance Company (52) 1,304 1,906 499,130 499,182 Total $ 3,478,826 $ 5,139,394 $ 1,286,742 $ 35,942,860 $ 37,528,350 The Utah, Arkansas, Mississippi and Texas Insurance Departments impose minimum risk-based capital requirements (“RBC”) that were developed by the NAIC on insurance enterprises. The formulas for determining the RBC specify various factors that are applied to financial balances or various levels of activity based on the perceived degree of risk. Regulatory compliance is determined by a ratio (the “Ratio”) of the enterprise’s regulatory total adjusted capital, as defined by the NAIC, to its authorized control level, as defined by the NAIC. Enterprises below specific trigger points or ratios are classified within certain levels, each of which requires specified corrective action. The life insurance subsidiaries have a combined weighted Ratio that is greater than the first level of regulatory action as of December 31, 2015. Generally, the net assets of the life insurance subsidiaries available for transfer to the Company are limited to the amounts of the life insurance subsidiaries net assets, as determined in accordance with statutory accounting practices, which were $35,942,860 at December 31, 2015, exceed minimum statutory capital requirements; however, payments of such amounts as dividends are subject to approval by regulatory authorities.

Note 14_ Business Segment Infor

Note 14: Business Segment Information	12 Months Ended
	Dec. 31, 2015
Notes
Note 14: Business Segment Information	14) Business Segment Information 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 fee income and expenses from the originations of residential 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. 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 are managed separately due to the different products provided and the need to report separately to the various regulatory jurisdictions. The Company regularly reviews the quantitative thresholds and other criteria to determine when other business segments may need to be reported. 2015 Life Cemetery/ Reconciling Insurance Mortuary Mortgage Items Consolidated Revenues: From external sources: Revenue from customers $ 58,883,721 $ 11,502,045 $ 171,849,594 $ - $ 242,235,360 Net investment income 25,297,486 450,854 8,259,564 - 34,007,904 Realized gains (losses) on investments and other assets 2,332,456 387,316 (318,413) - 2,401,359 Other than temporary impairments (413,714) - (191,716) - (605,430) Other revenues 824,759 146,831 4,150,217 - 5,121,807 Intersegment revenues: Net investment income 7,615,338 1,155,180 326,822 (9,097,340) - Total revenues 94,540,046 13,642,226 184,076,068 (9,097,340) 283,161,000 Expenses: Death and other policy benefits 33,549,893 - - - 33,549,893 Increase in future policy benefits 17,212,001 - - - 17,212,001 Amortization of deferred policy and preneed acquisition costs and value of business acquired 5,306,781 334,512 - - 5,641,293 Depreciation 710,733 403,066 1,069,697 - 2,183,496 General, administrative and other costs: Intersegment - 156,777 199,244 (356,021) - Provision for loan losses - - 6,295,043 - 6,295,043 Costs related to funding mortgage loans - - 8,864,404 - 8,864,404 Other 27,416,860 10,117,012 147,600,822 (1) 185,134,693 Interest expense: Intersegment 726,919 1,379,668 6,634,731 (8,741,318) - Other 1,151,860 337,632 2,969,120 - 4,458,612 Total benefits and expenses 86,075,047 12,728,667 173,633,061 (9,097,340) 263,339,435 Earnings before income taxes $ 8,464,999 $ 913,559 $ 10,443,007 $ - $ 19,821,565 Income tax expense (3,138,929) - (4,059,756) - (7,198,685) Net earnings $ 5,326,070 $ 913,559 $ 6,383,251 $ - $ 12,622,880 Identifiable assets $ 721,362,741 $ 101,935,898 $ 66,743,342 $ (140,108,664) $ 749,933,317 Goodwill $ 2,765,570 $ - $ - $ - $ 2,765,570 Expenditures for long-lived assets $ 3,024,223 $ 154,226 $ 454,241 $ - $ 3,632,690 2014 Life Cemetery/ Reconciling Insurance Mortuary Mortgage Items Consolidated Revenues: From external sources: Revenue from customers $ 57,037,623 $ 11,426,308 $ 124,668,054 $ - $ 193,131,985 Net investment income 23,008,489 275,324 5,019,927 - 28,303,740 Realized gains (losses) on investments and other assets 1,208,391 585,543 124,242 - 1,918,176 Other than temporary impairments (164,240) - - - (164,240) Other revenues 682,682 169,464 2,894,867 - 3,747,013 Intersegment revenues: Net investment income 6,128,389 1,288,856 642,880 (8,060,125) - Total revenues 87,901,334 13,745,495 133,349,970 (8,060,125) 226,936,674 Expenses: Death and other policy benefits 29,789,964 - - - 29,789,964 Increase in future policy benefits 18,060,151 - - - 18,060,151 Amortization of deferred policy and preneed acquisition costs and value of business acquired 6,561,589 331,389 - - 6,892,978 Depreciation 644,510 436,390 1,096,265 - 2,177,165 General, administrative and other costs: Intersegment 24,000 166,079 208,513 (398,592) - Provision for loan losses - - 3,053,403 - 3,053,403 Costs related to funding mortgage loans - - 6,877,069 - 6,877,069 Other 23,045,928 10,245,144 111,319,492 (2) 144,610,562 Interest expense: Intersegment 725,354 1,481,317 5,454,860 (7,661,531) - Other 578,083 421,920 1,994,426 - 2,994,429 Total benefits and expenses 79,429,579 13,082,239 130,004,028 (8,060,125) 214,455,721 Earnings before income taxes $ 8,471,755 $ 663,256 $ 3,345,942 $ - $ 12,480,953 Income tax expense (3,427,254) - (1,299,051) - (4,726,305) Net earnings $ 5,044,501 $ 663,256 $ 2,046,891 $ - $ 7,754,648 Identifiable assets $ 652,348,803 $ 109,114,226 $ 52,349,204 $ (142,742,671) $ 671,069,562 Goodwill $ 2,765,570 $ - $ - $ - $ 2,765,570 Expenditures for long-lived assets $ 1,420,950 $ 121,677 $ 737,936 $ - $ 2,280,563 2013 Life Cemetery/ Reconciling Insurance Mortuary Mortgage Items Consolidated Revenues: From external sources: Revenue from customers $ 51,322,567 $ 12,000,375 $ 127,950,021 $ - $ 191,272,963 Net investment income 15,877,784 268,923 4,207,295 - 20,354,002 Realized gains (losses) on investments and other assets 1,402,352 15,699 - - 1,418,051 Other than temporary impairments (336,226) - - - (336,226) Other revenues 538,009 94,703 1,973,518 - 2,606,230 Intersegment revenues: Net investment income 7,220,282 1,356,825 262,074 (8,839,181) - Total revenues 76,024,768 13,736,525 134,392,908 (8,839,181) 215,315,020 Expenses: Death and other policy benefits 28,534,936 - - - 28,534,936 Increase in future policy benefits 19,594,890 - - - 19,594,890 Amortization of deferred policy and preneed acquisition costs and value of business acquired 4,811,300 370,537 - - 5,181,837 Depreciation 401,893 426,641 792,535 - 1,621,069 General, administrative and other costs: Intersegment 24,000 141,367 199,193 (364,560) - Provision for loan losses - - 1,751,472 - 1,751,472 Costs related to funding mortgage loans - - 6,635,290 - 6,635,290 Other 18,753,753 10,467,717 110,096,627 1 139,318,098 Interest expense: Intersegment 802,352 1,664,096 6,008,174 (8,474,622) - Other 233,343 443,133 2,177,225 - 2,853,701 Total benefits and expenses 73,156,467 13,513,491 127,660,516 (8,839,181) 205,491,293 Earnings before income taxes $ 2,868,301 $ 223,034 $ 6,732,392 $ - $ 9,823,727 Income tax (expense) benefit 399,304 - (2,637,110) - (2,237,806) Net earnings $ 3,267,605 $ 223,034 $ 4,095,282 $ - $ 7,585,921 Identifiable assets $ 591,465,834 $ 114,454,631 $ 50,250,677 $ (137,413,688) $ 618,757,454 Goodwill $ 391,848 $ 285,191 $ - $ - $ 677,039 Expenditures for long-lived assets $ 659,259 $ 1,100,195 $ 1,810,879 $ - $ 3,570,333

Note 15_ Related Party Transact

Note 15: Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Notes
Note 15: Related Party Transactions	15) Related Party Transactions The Company’s Board of Directors has a written procedure, which requires disclosure to the Board of any material

Note 16_ Fair Value of Financia

Note 16: Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2015
Notes
Note 16: Fair Value of Financial Instruments	16) 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 2 of the Notes to 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 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 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 seven and 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 table summarizes Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a recurring basis by their classification in the consolidated balance sheet at December 31, 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 $ 8,431,090 $ 8,431,090 $ - $ - Total securities available for sale 8,431,090 8,431,090 - - Restricted assets of cemeteries and mortuaries 686,444 686,444 - - Cemetery perpetual care trust investments 630,854 630,854 - - Derivatives - interest rate lock commitments 3,440,758 - - 3,440,758 Total assets accounted for at fair value on a recurring basis $ 13,189,146 $ 9,748,388 $ - $ 3,440,758 Liabilities accounted for at fair value on a recurring basis Policyholder account balances $ (50,694,953) $ - $ - $ (50,694,953) Future policy benefits - annuities (69,398,617) - - (69,398,617) Derivatives - bank loan interest rate swaps (13,947) - - (13,947) - call options (16,342) (16,342) - - - put options (28,829) (28,829) - - - interest rate lock commitments (107,667) - - (107,667) Total liabilities accounted for at fair value on a recurring basis $ (120,260,355) $ (45,171) $ - $ (120,215,184) Following is a summary of changes in the consolidated balance sheet line items measured using level 3 inputs: Policyholder Account Balances Future Policy Benefits - Annuities Interest Rate Lock Commitments Bank Loan Interest Rate Swaps Balance - December 31, 2014 $ (45,310,699) $ (65,540,985) $ 1,929,851 $ (31,370) Total Losses (Gains): Included in earnings (5,384,254) (3,857,632) - - Included in other comprehensive income (loss) - - 1,403,240 17,423 Balance - December 31, 2015 $ (50,694,953) $ (69,398,617) $ 3,333,091 $ (13,947) The following tables summarize Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a nonrecurring basis by their classification in the consolidated balance sheet at December 31, 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 nonrecurring basis Mortgage servicing rights $ 6,217,551 $ - $ - $ 6,217,551 Real estate held for investment 95,000 - - 95,000 Total assets accounted for at fair value on a nonrecurring basis $ 6,312,551 $ - $ - $ 6,312,551 The following table summarizes Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a recurring basis by their classification in the 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 Non-redeemable preferred stock 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) - - - interest rate lock commitments (11,867) (11,867) - - Total liabilities accounted for at fair value on a recurring basis (181,678) - - (181,678) 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 consolidated balance sheet line items measured using level 3 inputs: Balance - December 31, 2013 $ (48,000,668) $ (65,052,928) $ 1,487,908 $ (58,310) Total Losses (Gains): Included in earnings 2,689,969 (488,057) - - Included in other comprehensive income (loss) - - 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 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 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 December 31, 2015. The estimated fair value amounts for December 31, 2015 have been measured as of period-end, and have not been reevaluated or updated for purposes of these Consolidated Financial Statements subsequent to those dates. As such, the estimated fair values of these financial instruments subsequent to the reporting date may be different than the amounts reported at period-end. The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows as of December 31, 2015: Carrying Value Level 1 Level 2 Level 3 Total Estimated Fair Value Assets Mortgage loans: Residential $ 44,459,613 $ - $ - $ 47,193,950 $ 47,193,950 Residential construction 34,751,443 - - 34,751,443 34,751,443 Commercial 33,335,849 - - 34,778,136 34,778,136 Mortgage loans, net $ 112,546,905 $ - $ - $ 116,723,529 $ 116,723,529 Policy loans 6,896,457 - - 6,896,457 6,896,457 Other loans 32,685,964 - - 32,685,964 32,685,964 Short-term investments 16,915,808 - - 16,915,808 16,915,808 Liabilities Bank and other loans payable $ (40,894,968) $ - $ - $ (40,894,968) $ (40,894,968) 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 (6-12 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 consolidated balance sheet for these financial instruments approximate their fair values. Short-Term Investments : The carrying amounts reported in the accompanying consolidated balance sheet for these financial instruments approximate their fair values. Bank and Other Loans Payable The carrying amounts reported in the accompanying consolidated balance sheet for these financial instruments approximate their fair values.

Note 17_ Accumulated Other Comp

Note 17: Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2015
Notes
Note 17: Accumulated Other Comprehensive Income	17) Accumulated Other Comprehensive Income The following summarizes the changes in accumulated other comprehensive income: December 31 2015 2014 Unrealized losses on available for-sale securities $ (1,289,508) $ (390,143) Reclassification adjustment for net realized gains in net income 113,751 293,985 Net unrealized gains (losses) before taxes (1,175,757) (96,158) Tax (expense) benefit 404,414 30,310 Net (771,343) (65,848) Potential unrealized gains for derivative bank loans (interest rate swaps) before taxes 17,423 26,940 Tax expense (6,794) (10,507) Net 10,629 16,433 Potential unrealized gains (losses) for derivative mortgage loans before taxes 1,403,240 441,943 Tax (expense) benefit (547,264) (172,358) Net 855,976 269,585 Other comprehensive income (loss) changes $ 95,262 $ 220,170 The following is the accumulated balances of other comprehensive income as of December 31, 2015: Beginning Balance December 31, 2014 Change for the period Ending Balance December 31, 2015 Unrealized net gains on available-for-sale securities and trust investments $ 280,493 $ (771,343) $ (490,850) Unrealized gains (losses) on derivative mortgage loans 1,177,209 855,976 2,033,185 Unrealized gains (losses) on derivative bank loan interest rate swaps (19,136) 10,629 (8,507) Other comprehensive income $ 1,438,566 $ 95,262 $ 1,533,828 The following is the accumulated balances of other comprehensive income as of December 31, 2014: Beginning Balance December 31, 2013 Change for the period Ending Balance December 31, 2014 Unrealized net gains on available-for-sale securities and trust investments $ 346,341 $ (65,848) $ 280,493 Unrealized gains (losses) on derivative mortgage loans 907,624 269,585 1,177,209 Unrealized gains (losses) on derivative bank loan interest rate swaps (35,569) 16,433 (19,136) Other comprehensive income $ 1,218,396 $ 220,170 $ 1,438,566 The following is the accumulated balances of other comprehensive income as of December 31, 2013: Beginning Balance December 31, 2012 Change for the period Ending Balance December 31, 2013 Unrealized net gains on available-for-sale securities and trust investments $ 41,550 $ 304,791 $ 346,341 Unrealized gains (losses) on derivative mortgage loans 1,954,567 (1,046,943) 907,624 Unrealized gains (losses) on derivative bank loan interest rate swaps (61,758) 26,189 (35,569) Other comprehensive income $ 1,934,359 $ (715,963) $ 1,218,396

Note 18_ Derivative Commitments

Note 18: Derivative Commitments	12 Months Ended
	Dec. 31, 2015
Notes
Note 18: Derivative Commitments	18) Derivative Commitments The following table shows the fair value of derivatives as of December 31, 2015 and 2014. Fair Value of Derivative Instruments Asset Derivatives Liability Derivatives December 31, 2015 December 31, 2014 December 31, 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 $3,440,758 other assets $ 2,111,529 Other liabilities $107,667 Other liabilities $181,678 Call Options - - Other liabilities 16,342 Other liabilities 116,036 Put Options - - Other liabilities 28,829 Other liabilities 11,867 Interest rate swaps - - Bank loans payable 13,947 Bank loans payable 31,370 Total $3,440,758 $ 2,111,529 $166,785 $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 Years ended December 31 Derivative - Cash Flow Hedging Relationships: 2015 2014 Interest Rate Lock Commitments $ 1,403,240 $ 441,943 Interest Rate Swaps 17,423 26,940 Sub Total 1,420,663 468,883 Tax Effect 554,058 182,865 Total $ 866,605 $ 286,018

Note 19_ Acquisitions

Note 19: Acquisitions	12 Months Ended
	Dec. 31, 2015
Notes
Note 19: Acquisitions	19) Acquisitions Acquisition of American Funeral Financial On June 4, 2014, the Company, through its wholly owned subsidiary, SNFC Subsidiary, LLC (“SNFC Subsidiary”), completed a purchase transaction with American Funeral Financial, LLC, a South Carolina limited liability company (“American Funeral Financial”) and Hypershop, LLC, a North Carolina limited liability company (“Hypershop”), the sole owner of all the limited liability company interests of American Funeral Financial, to purchase all of the outstanding limited liability company interests, or membership units, of American Funeral Financial. American Funeral Financial is engaged in the operation of a factoring business with the principal purpose of providing funding for funeral homes and mortuaries. Under the terms of the transaction, as set forth in the Unit Purchase Agreement dated June 4, 2014 (the “Purchase Agreement”), among the Company, SNFC Subsidiary, American Funeral Financial and Hypershop, the Company paid Hypershop purchase consideration equal to (i) $3,000,000 in cash, of which $175,000 was deposited into an interest bearing escrow account to be held for a period of twelve months from the closing date to pay off the indebtedness and other liabilities of American Funeral Financial, plus (ii) $12,011,183, representing the amount of the good standing receivables of American Funeral Financial, plus (iii) earn-out payments equal to .0042 of the aggregate amount of life insurance assignments funded by American Funeral Financial during the three year period following the closing date of the transaction. This earn-out liability was estimated to be $1,368,000. The purchase consideration was to be used to pay off the indebtedness that American Funeral Financial owed to Security Finance Corporation of Spartanburg, as well as to pay off all other indebtedness and liabilities of American Funeral Financial. The estimated fair values of the assets acquired and the liabilities assumed at the date of acquisition were as follows: Other loans, net $ 11,866,193 Property and equipment 760,120 Goodwill 2,373,722 Other 1,379,158 Total assets acquired 16,379,193 Other liabilities and accrued expenses (1,368,000) Total liabilities assumed (1,368,000) Fair value of net assets acquired $ 15,011,193 The estimated fair value of the acquisition is based on market assumptions of the future value of the business acquired, the collectability of receivables, the current value of equipment purchased and the useful life of proprietary software. Based on the unobservable nature of certain of these assumptions, the valuation is considered Level 3 under the fair value hierarchy. 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 years ended December 31, 2015, 2014 and 2013, respectively. 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 Year Ended December 31 (unaudited) 2015 2014 2013 Total revenues $ 283,161,000 $ 229,268,653 $ 220,011,370 Net earnings $ 12,622,880 $ 7,996,405 $ 7,963,589 Net earnings per Class A equivalent common share $ 0.92 $ 0.61 $ 0.61 Net earnings per Class A equivalent common share assuming dilution $ 0.89 $ 0.59 $ 0.58

Note 20_ Mortgage Servicing Rig

Note 20: Mortgage Servicing Rights	12 Months Ended
	Dec. 31, 2015
Notes
Note 20: Mortgage Servicing Rights	20) Mortgage Servicing Rights The following table presents the MSR activity for 2015 and 2014. December 31 2015 2014 Amortized cost: Balance before valuation allowance at beginning of year $ 7,834,747 $ 4,844,101 MSRs received as proceeds from loan sales 6,217,551 3,741,381 Amortization (1,372,543) (750,735) Application of valuation allowance to write down MSRs with other than temporary impairment - - Balance before valuation allowance at year end $ 12,679,755 $ 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 year end $ - $ - Mortgage servicing rights, net $ 12,679,755 $ 7,834,747 Estimated fair value of MSRs at year end $ 13,897,160 $ 8,485,570 The Company reports these MSRs pursuant to the accounting policy discussed in Note 1 of the Notes to Consolidated Financial Statements. The following table summarizes the Company’s estimate of future amortization of its existing MSRs carried at amortized cost. This projection was developed using the assumptions made by management in its December 31, 2015 valuation of MSRs. The assumptions underlying the following estimate will change as market conditions and portfolio composition and behavior change, causing both actual and projected amortization levels to change over time. Therefore, the following estimates will change in a manner and amount not presently determinable by management. Estimated MSR Amortization 2016 $ 1,408,862 2017 1,408,862 2018 1,408,862 2019 1,408,862 2020 1,408,862 Thereafter 5,635,445 Total $ 12,679,755

Note 21_ Quarterly Financial Da

Note 21: Quarterly Financial Data (unaudited)	12 Months Ended
	Dec. 31, 2015
Notes
Note 21: Quarterly Financial Data (unaudited)	21) Quarterly Financial Data (Unaudited) 2015 Three Months Ended March 31 June 30 September 30 December 31 Revenues $ 64,049,632 $ 76,040,615 $ 75,494,686 $ 67,576,067 Benefits and expenses 61,051,248 69,808,663 67,700,286 64,779,238 Earnings before income taxes 2,998,384 6,231,952 7,794,400 2,796,829 Income tax expense (1,134,681) (2,379,673) (2,904,615) (779,716) Net earnings 1,863,703 3,852,279 4,889,785 2,017,113 Net earnings per common share (1) $0.14 $0.28 $0.35 $0.15 Net earnings per common share assuming dilution (1) $0.13 $0.27 $0.34 $0.14 2014 Three Months Ended March 31 June 30 September 30 December 31 Revenues $ 45,053,276 $ 59,411,730 $ 61,725,792 $ 60,745,876 Benefits and expenses 44,887,289 55,224,633 58,348,652 55,995,147 Earnings before income taxes 165,987 4,187,097 3,377,140 4,750,729 Income tax expense (27,139) (1,563,034) (1,239,318) (1,896,814) Net earnings 138,848 2,624,063 2,137,822 2,853,915 Net earnings per common share (1) $0.01 $0.20 $0.16 $0.22 Net earnings per common share assuming dilution (1) $0.01 $0.19 $0.16 $0.21 2013 Three Months Ended March 31 June 30 September 30 December 31 Revenues $ 54,852,234 $ 61,332,289 $ 50,552,791 $ 48,577,706 Benefits and expenses 51,624,611 56,862,769 48,588,507 48,415,406 Earnings before income taxes 3,227,623 4,469,520 1,964,284 162,300 Income tax benefit (expense) (1,194,357) (1,670,275) (697,793) 1,324,619 Net earnings 2,033,266 2,799,245 1,266,491 1,486,919 Net earnings per common share (1) $0.16 $0.22 $0.10 $0.11 Net earnings per common share assuming dilution (1) $0.14 $0.20 $0.09 $0.11 (1) Earnings per share amounts have been adjusted retroactively for the effect of annual stock dividends.

Note 1_ Significant Accountin29

Note 1: Significant Accounting Policies: General Overview of Business (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
General Overview of Business	General Overview of Business Security National Financial Corporation and its wholly owned subsidiaries (the “Company”) operate in three main business segments: life insurance, cemetery and mortuary, and mortgage loans. The life insurance segment is engaged in the business of selling and servicing selected lines of life insurance, annuity products and accident and health insurance marketed primarily in the intermountain west, California and eleven southern states. The cemetery and mortuary segment of the Company consists of seven mortuaries and five cemeteries in Utah and one cemetery in California. The mortgage loan segment is an approved government and conventional lender that originates and underwrites residential and commercial loans for new construction, existing homes and real estate projects primarily in Florida, Nevada, Texas, and Utah.

Note 1_ Significant Accountin30

Note 1: Significant Accounting Policies: Basis of Presentation (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The presentation of certain amounts in prior years has been reclassified to conform to the 2015 presentation.

Note 1_ Significant Accountin31

Note 1: Significant Accounting Policies: Principles of Consolidation (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Principles of Consolidation	Principles of Consolidation These consolidated financial statements include the financial statements of the Company and its majority owned subsidiaries. All intercompany transactions and accounts have been eliminated in consolidation.

Note 1_ Significant Accountin32

Note 1: Significant Accounting Policies: Use of Estimates (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Use of Estimates	Use of Estimates Management of the Company has made a number of estimates and assumptions related to the reported amount of assets and liabilities, reported amounts of revenues and expenses, and the disclosure of contingent assets and liabilities to prepare these financial statements in conformity with generally accepted accounting principles. Actual results could differ from those estimates.

Note 1_ Significant Accountin33

Note 1: Significant Accounting Policies: Investments (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Investments	Investments The Company’s management determines the appropriate classifications of investments in fixed maturity securities and equity securities at the acquisition date and re-evaluates the classifications at each balance sheet date. Fixed maturity securities held to maturity are carried at cost, adjusted for amortization of premium or accretion of discount. Although the Company has the ability and intent to hold these investments to maturity, infrequent and unusual conditions could occur under which it would sell certain of these securities. Those conditions include unforeseen changes in asset quality, significant changes in tax laws, and changes in regulatory capital requirements or permissible investments. Fixed maturity and equity securities available for sale are carried at estimated fair value. Changes in fair values net of income taxes are reported as unrealized appreciation or depreciation and recorded as an adjustment directly to stockholders’ equity and, accordingly, have no effect on net income. Mortgage loans on real estate, and construction loans held to maturity are Mortgage loans are collateral dependent and require an appraisal at the time of underwriting and funding. Generally the Company will fund a loan not to exceed 80% of the loan’s collateral fair market value. Amounts over 80% will require mortgage insurance by an approved third party insurer. Once a loan is deemed to be impaired the Company will review the market value of the collateral and provide an allowance for any impairment. Mortgage loans sold to investors are carried at the amount due from third party investors, which is the estimated fair value at the balance sheet date since these amounts are generally collected within a short period of time. Real estate held for investment is carried at cost, less accumulated depreciation provided on a straight line basis over the estimated useful lives of the properties, or is adjusted to a new basis for impairment in value, if any. Included are foreclosed properties which the Company intends to hold for investment purposes. These properties are recorded at the lower of cost or fair value upon foreclosure. Policy and other loans are carried at the aggregate unpaid balances, less allowances for possible losses. Short-term investments are carried at cost and consist of certificates of deposit and commercial paper with maturities of up to one year. Restricted assets are assets held in a trust account for future mortuary services and merchandise and consist of cash; participations in mortgage loans with Security National Life; mutual funds carried at cost; equity securities carried at fair market value; and a surplus note with Security National Life. Restricted cash also represents escrows held for borrowers and investors under servicing and appraisal agreements relating to mortgage loans, funds held by warehouse banks in accordance with loan purchase agreements and funds held in escrow for the construction of a 282-unit multifamily development in Sandy City, Utah. Cemetery and mortuary perpetual care trust business segment contains six wholly owned cemeteries. Of the six cemeteries owned by the Company, four cemeteries are endowment care properties. Under endowment care arrangements a portion of the price for each lot sold is withheld and invested in a portfolio of investments similar to those described in the prior paragraph. The earnings stream from the investments is designed to fund future maintenance and upkeep of the cemetery. Realized gains and losses on investments arise when investments are sold (as determined on a specific identification basis) or are other-than-temporarily impaired. If in management’s judgment a decline in the value of an investment below cost is other-than-temporary, the cost of the investment is written down to fair value with a corresponding charge to earnings. Factors considered in judging whether an impairment is other-than-temporary include: the financial condition, business prospects and credit worthiness of the issuer, the length of time that fair value has been less than cost, the relative amount of the decline, and the Company’s ability and intent to hold the investment until the fair value recovers, which is not assured.

Note 1_ Significant Accountin34

Note 1: Significant Accounting Policies: Cash and Cash Equivalents (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents.

Note 1_ Significant Accountin35

Note 1: Significant Accounting Policies: Cemetery Land and Improvements (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Cemetery Land and Improvements	Cemetery Land and Improvements The development of a cemetery involves not only the initial acquisition of raw land but the installation of roads, water lines, landscaping and other costs to establish a marketable cemetery lot. The costs of developing the cemetery are shown as an asset on the balance sheet. The amount on the balance sheet is reduced by the total cost assigned to the development of a particular lot when the criterion for recognizing a sale of that lot is met.

Note 1_ Significant Accountin36

Note 1: Significant Accounting Policies: Property and Equipment (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Property and Equipment	Property and Equipment Property and equipment are recorded at cost. Depreciation is calculated principally on the straight-line method over the estimated useful lives of the assets which range from three to forty years. Leasehold improvements are amortized over the lesser of the useful life or remaining lease terms.

Note 1_ Significant Accountin37

Note 1: Significant Accounting Policies: Recognition of Insurance Premiums and Other Considerations (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Recognition of Insurance Premiums and Other Considerations	Recognition of Insurance Premiums and Other Considerations Premiums

Note 1_ Significant Accountin38

Note 1: Significant Accounting Policies: Deferred Policy Acquisition Costs and Value of Business Acquired (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Deferred Policy Acquisition Costs and Value of Business Acquired	Deferred Policy Acquisition Costs and Value of Business Acquired Commissions and other costs, net of commission and expense allowances for reinsurance ceded, that vary with and are primarily related to the production of new insurance business have been deferred. Deferred policy acquisition costs (“DAC”) for traditional life insurance are amortized over the premium paying period of the related policies using assumptions consistent with those used in computing policy benefit reserves. For interest-sensitive insurance products, deferred policy acquisition costs are amortized generally in proportion to the present value of expected gross profits from surrender charges, investment, mortality and expense margins. This amortization is adjusted when estimates of current or future gross profits to be realized from a group of products are reevaluated. Deferred acquisition costs are written off when policies lapse or are surrendered. The Company follows accounting principles generally accepted in the United States of America when accounting for DAC on internal replacements of insurance and investment contracts. An internal replacement is a modification in product benefits, features, rights or coverage that occurs by the exchange of a contract for a new contract, or by amendment, endorsement, or rider to contract, or by the election of a feature or coverage within a contract. Modifications that result in a replacement contract that is substantially changed from the replaced contract are accounted for as an extinguishment of the replaced contract. Unamortized DAC, unearned revenue liabilities and deferred sales inducements from the replaced contract are written-off. Modifications that result in a contract that is substantially unchanged from the replaced contract are accounted for as a continuation of the replaced contract. Value of business acquired is the present value of estimated future profits of the acquired business and is amortized similar to deferred policy acquisition costs.

Note 1_ Significant Accountin39

Note 1: Significant Accounting Policies: Mortgage Servicing Rights (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Mortgage Servicing Rights	Mortgage Servicing Rights Mortgage Service Rights (MSR) arise from contractual agreements between the Company and third-party investors (or their agents) when mortgage loans are sold. Under these contracts, the Company is obligated to retain and provide loan servicing functions on loans sold, in exchange for fees and other remuneration. The servicing functions typically performed include, among other responsibilities, collecting and remitting loan payments; responding to borrower inquiries; accounting for principal and interest, holding custodial (impound) funds for payment of property taxes and insurance premiums; counseling delinquent mortgagors; and supervising the acquisition of REO and property dispositions. The total residential mortgage loans serviced for others consist primarily of agency conforming fixed-rate mortgage loans. The value of MSRs is derived from the net cash flows associated with the servicing contracts. The Company receives a servicing fee of generally about 0.250% annually on the remaining outstanding principal balances of the loans. Based on the result of the cash flow analysis, an asset or liability is recorded for mortgage servicing rights. The servicing fees are collected from the monthly payments made by the mortgagors. An accrual for servicing fees is recorded on uncollected mortgage payments less than 90 days delinquent. A servicing fee accrual is not made on any mortgage payments due more than 90 days delinquent. The Company generally receives other remuneration including rights to various mortgagor-contracted fees such as late charges, and collateral reconveyance charges and the Company is generally entitled to retain the interest earned on funds held pending remittance of mortgagor principal, interest, tax and insurance payments. 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 seven and 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.

Note 1_ Significant Accountin40

Note 1: Significant Accounting Policies: Derivatives (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Derivatives	Derivatives Interest Rate Locks and 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. Call and Put Options 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 options is adjusted to fair value at each reporting date. In the event an option is exercised, the Company recognizes a gain on the sale of the equity security and a gain on the sale of the option. If the option expires unexercised, the Company recognizes a gain from the sale of the option.

Note 1_ Significant Accountin41

Note 1: Significant Accounting Policies: Allowance For Doubtful Accounts and Loan Losses and Impaired Loans (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Allowance For Doubtful Accounts and Loan Losses and Impaired Loans	Allowance for Doubtful Accounts and 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 2 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.

Note 1_ Significant Accountin42

Note 1: Significant Accounting Policies: Loan Loss Reserve (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Loan Loss Reserve	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 Additional information related to the Loan Loss Reserve is included in Note 2.

Note 1_ Significant Accountin43

Note 1: Significant Accounting Policies: Future Life, Annuity and Other Policy Benefits (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Future Life, Annuity and Other Policy Benefits	Future Life, Annuity and Other Policy Benefits Future policy benefit reserves for traditional life insurance are computed using a net level method, including assumptions as to investment yields, mortality, morbidity, withdrawals, and other assumptions based on the life insurance subsidiaries’ experience, modified as necessary to give effect to anticipated trends and to include provisions for possible unfavorable deviations. Such liabilities are, for some plans, graded to equal statutory values or cash values at or prior to maturity. The range of assumed interest rates for all traditional life insurance policy reserves was 4.5% to 10%. Benefit reserves for traditional limited-payment life insurance policies include the deferred portion of the premiums received during the premium-paying period. Deferred premiums are recognized as income over the life of the policies. Policy benefit claims are charged to expense in the period the claims are incurred. Increases in future policy benefits are charged to expense. 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 3% to 6.5%.

Note 1_ Significant Accountin44

Note 1: Significant Accounting Policies: Participating Insurance (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Participating Insurance	Participating Insurance Participating business constituted 2%, 2%, and 2% of insurance in force for 2015, 2014 and 2013, respectively. The provision for policyholders’ dividends included in policyholder obligations is based on dividend scales anticipated by management. Amounts to be paid are determined by the Board of Directors.

Note 1_ Significant Accountin45

Note 1: Significant Accounting Policies: Reinsurance (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Reinsurance	Reinsurance The Company follows the procedure of reinsuring risks in excess of $100,000 to provide for greater diversification of business to allow management to control exposure to potential losses arising from large risks, and provide additional capacity for growth. The Company remains liable for amounts ceded in the event the reinsurers are unable to meet their obligations. The Company entered into coinsurance agreements with unaffiliated insurance companies under which the Company assumed 100% of the risk for certain life insurance policies and certain other policy-related liabilities of the insurance company. Reinsurance premiums, commissions, expense reimbursements, and reserves related to reinsured business are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Expense allowances received in connection with reinsurance ceded are accounted for as a reduction of the related policy acquisition costs and are deferred and amortized accordingly.

Note 1_ Significant Accountin46

Note 1: Significant Accounting Policies: Pre-need Sales and Costs (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Pre-need Sales and Costs	Pre-need Sales and Costs Pre-need contract sales of funeral services and caskets - revenue and costs associated with the sales of pre-need funeral services and caskets are deferred until the services are performed or the caskets are delivered. Sales of cemetery interment rights (cemetery burial property) - revenue and costs associated with the sale of cemetery interment rights are recognized in accordance with the retail land sales provisions based on GAAP. Under GAAP, recognition of revenue and associated costs from constructed cemetery property must be deferred until a minimum percentage of the sales price has been collected. Pre-need contract sales of cemetery merchandise (primarily markers and vaults) - revenue and costs associated with the sale of pre-need cemetery merchandise is deferred until the merchandise is delivered. Pre-need contract sales of cemetery services (primarily merchandise delivery, installation fees and burial opening and closing fees) - revenue and costs associated with the sales of pre-need cemetery services are deferred until the services are performed. Prearranged funeral and pre-need cemetery customer acquisition costs - costs incurred related to obtaining new pre-need contract cemetery and prearranged funeral services are accounted for under the guidance of the provisions based on GAAP. Obtaining costs, which include only costs that vary with and are primarily related to the acquisition of new pre-need cemetery and prearranged funeral services, are deferred until the merchandise is delivered or services are performed. Revenues and costs for at need sales are recorded when a valid contract exists, the services are performed, collection is reasonably assured and there are no significant obligations remaining. The Company, through its cemetery and mortuary operations, provides guaranteed funeral arrangements wherein a prospective customer can receive future goods and services at guaranteed prices. To accomplish this, the Company, through its life insurance operations, sells to the customer an increasing benefit life insurance policy that is assigned to the mortuaries. If, at the time of need, the policyholder/potential mortuary customer utilizes one of the Company’s facilities, the guaranteed funeral arrangement contract that has been assigned will provide the funeral goods and services at the contracted price. The increasing life insurance policy will cover the difference between the original contract prices and current prices. Risks may arise if the difference cannot be fully met by the life insurance policy. However, management believes that given current inflation rates and related price increases of goods and services, the risk of exposure is minimal.

Note 1_ Significant Accountin47

Note 1: Significant Accounting Policies: Mortgage Fee Income (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Mortgage Fee Income	Mortgage Fee Income Mort g g e c a f e e r a o r i g a t a n a l o r t gag a n F o e th t ra n s f e r e h a t h r i g h t pl e d g o e xc ha n g th mo r t g a g e a n (iii th Co m p a n d oe n o m a in ta in f c r e e g g The Company must determine that all three criteria are met at the time a loan is funded. g g g g e c t s t o r t warehouse banks p u r c h a si n th e lo a n u n d e th p u r c h a s c om m it me nt s The Company, through its mortgage subsidiaries, sells all mortgage loans to third party investors without recourse. However, it may be required to repurchase a loan or pay a fee instead of repurchase under certain events, which include the following: · · · · · · · Loan purchase commitments generally specify a date 30 to 45 days after delivery upon which the underlying loans should be settled. Depending on market conditions, these commitment settlement dates can be extended at a cost to the Company. It is the Company's policy to cure any documentation problems regarding such loans at a minimal cost for up to a six-month time period and to pursue efforts to enforce loan purchase commitments from third-party investors concerning the loans. The Company believes that six months allows adequate time to remedy any documentation issues, to enforce purchase commitments, and to exhaust other alternatives. Remedial methods include the following: · · · · · Once purchase commitments have expired and other alternatives to remedy are exhausted, which could be earlier than the six month time period, the loans are repurchased and transferred to the long term investment portfolio at the lower of cost or fair value and previously recorded sales revenue is reversed. Any loan that later becomes delinquent is evaluated by the Company at that time and any impairment is adjusted accordingly. Determining Lower of Cost or Market Cost is equal to the amount paid to the warehouse bank and the amount originally funded by the Company. Market value is often difficult to determine, but is based on the following: · · · The appraised value of the real estate underlying the original mortgage loan adds support to the Company’s determination of fair value because if the loan becomes delinquent, the Company has sufficient value to collect the unpaid principal balance or the carrying value of the loan. In determining the market value on the date of repurchase, the Company considers the total value of all of the loans because any sale of loans would be made as a pool. The Company provides an allowance for loan losses on its mortgage loans held for investment. The allowance is comprised of two components. The first component is an allowance for collectively evaluated impairment that is based upon the Company’s historical experience in collecting similar receivables. The second component is based upon individual evaluation of loans that are determined to be impaired. Commercial Loans Each quarter, management reviews the current commercial loans and determines if an allowance is required based on the Company’s actual experience of losses on impaired commercial loans. To date, the Company has not incurred any significant losses. The carrying value of all commercial loans is supported by appraisals and cash flow analysis of revenue received. Also, the Company does not accrue any interest income or capitalize any of the foreclosure costs on impaired commercial loans. Residential and Construction Loans The Company believes that in an orderly market fair value will approximate the replacement cost of a home and the rental income provides a cash flow stream for investment analysis. The Company believes the highest and best use of the properties are as income producing assets since it is the Company’s intent to hold the properties as rental properties, matching the income from the investment in rental properties with the funds required for future estimated policy claims. Accordingly, the fair value determination will be weighted more heavily toward the rental analysis. It should be noted that for replacement cost, when determining the fair value of mortgage properties, the Company uses Marshall and Swift, a provider of building cost information to the real estate construction industry. For the investment analysis, the Company 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. Each quarter the Company also analyzes its current loan portfolio and determines the level of allowance needed for loans that are listed as current in the portfolio. The basis of the analysis places a higher weight on loans with high loan to value ratios, those that lack mortgage insurance, and certain loan types that have a higher percentage of default based on the Company’s experience. Each quarter the Company makes further analysis of the foreclosed properties to determine if any additional allowances are necessary by comparing national indexes of loan to value ratios by region to the Company’s loan to value ratios. Based upon the above procedures, the Company’s management believes that residential and residential construction loans are reflected in the Company’s financial statements at the lower of cost or market in accordance with GAAP requirements.

Note 1_ Significant Accountin48

Note 1: Significant Accounting Policies: Goodwill (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Goodwill	Goodwill Previous acquisitions have been accounted for as purchases under which assets acquired and liabilities assumed were recorded at their fair values with the excess purchase price recognized as goodwill. The Company evaluates annually or when changes in circumstances warrant the recoverability of goodwill and if there is a decrease in value, the related impairment is recognized as a charge against income. No impairment of goodwill has been recognized in the accompanying financial statements.

Note 1_ Significant Accountin49

Note 1: Significant Accounting Policies: Long-lived Assets (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Long-lived Assets	Long-lived Assets Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the related carrying amount may not be recoverable. When required, impairment losses on assets to be held and used are recognized based on the fair value of the asset, and long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less costs to sell. No impairment of long-lived assets has been recognized in the accompanying financial statements.

Note 1_ Significant Accountin50

Note 1: Significant Accounting Policies: Income Taxes (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Income Taxes	Income Taxes Income taxes include taxes currently payable plus deferred taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to the temporary differences in the financial reporting basis and tax basis of assets and liabilities and operating loss carry-forwards. Deferred tax assets are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. Liabilities are established for uncertain tax positions expected to be taken in income tax returns when such positions are judged to meet the “more-likely-than-not” threshold based on the technical merits of the positions. Estimated interest and penalties related to uncertain tax penalties are included as a component of other expenses.

Note 1_ Significant Accountin51

Note 1: Significant Accounting Policies: Earnings Per Common Share (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Earnings Per Common Share	Earnings Per Common Share The Company computes earnings per share in accordance with accounting principles generally accepted in the United States of America which requires presentation of basic and diluted earnings per share. Basic earnings per equivalent Class A common share are computed by dividing net earnings by the weighted-average number of Class A common shares outstanding during each year presented, after the effect of the assumed conversion of Class C common stock to Class A common stock. Diluted earnings per share is computed by dividing net earnings by the weighted-average number of common shares outstanding during the year used to compute basic earnings per share plus dilutive potential incremental shares. Basic and diluted earnings per share amounts have been adjusted retroactively for the effect of annual stock dividends.

Note 1_ Significant Accountin52

Note 1: Significant Accounting Policies: Stock Based Compensation (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Stock Based Compensation	Stock Based Compensation The cost of employee services received in exchange for an award of equity instruments is recognized in the financial statements and is measured based on the fair value on the grant date of the award. The fair value of stock options is calculated using the Black Scholes method. Stock option compensation expense is recognized over the period during which an employee is required to provide service in exchange for the award.

Note 1_ Significant Accountin53

Note 1: Significant Accounting Policies: Concentration of Credit Risk (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Concentration of Credit Risk	Concentration of Credit Risk The Company maintains its cash in bank deposit accounts, which at times exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents.

Note 1_ Significant Accountin54

Note 1: Significant Accounting Policies: Advertising (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Advertising	Advertising The Company expenses advertising costs as incurred.

Note 1_ Significant Accountin55

Note 1: Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Recent Accounting Pronouncements	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, 201 5. 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. ASU No. 2016-01: “ Financial Instruments – Overall (Topic 825-10)” – Issued in January 2016, ASU 2016-01 changes the accounting for non-consolidated equity investments that are not accounted for under the equity method of accounting by requiring changes in fair value to be recognized in income. Under current guidance, changes in fair value for investments of this nature are recognized in accumulated other comprehensive income as a component of stockholders’ equity. Additionally, ASU 2016-01 simplifies the impairment assessment of equity investments without readily determinable fair values; requires entities to use the exit price when estimating the fair value of financial instruments; and modifies various presentation disclosure requirements for financial instruments. 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. ASU No. 2016-02: “Leases (Topic 842)” - Issued in February 2016, ASU 2016-02 supersedes the leases requirements in ASC Topic 840, “Leases”, and was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The new authoritative guidance is effective for interim and annual periods beginning after December 15, 2018. The Company is in the process of evaluating the potential impact of this standard. 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.

Note 2_ Investments_ Held-to-ma

Note 2: Investments: Held-to-maturity Securities (Tables)	12 Months Ended
	Dec. 31, 2015
AsOfDecember312015Member
Held-to-maturity Securities	Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2015 Fixed maturity securities held to maturity carried at amortized cost: U.S. Treasury securities and obligations of U.S. Government agencies $ 3,560,579 $ 292,869 $ (4,743) $ 3,848,705 Obligations of states and political subdivisions 1,805,828 182,073 (1,040) 1,986,861 Corporate securities including public utilities 134,488,108 9,836,355 (5,501,743) 138,822,720 Mortgage-backed securities 5,091,887 190,867 (75,580) 5,207,174 Redeemable preferred stock 612,023 29,675 - 641,698 Total fixed maturity securities held to maturity $ 145,558,425 $ 10,531,839 $ (5,583,106) $ 150,507,158 Equity securities available for sale at estimated fair value: Common stock: Industrial, miscellaneous and all other $ 9,891,500 $ 213,683 $ (1,674,094) $ 8,431,090 Total securities available for sale carried at estimated fair value $ 9,891,500 $ 213,683 $ (1,674,094) $ 8,431,090 Mortgage loans on real estate and construction loans held for investment at amortized cost: Residential $ 46,020,490 Residential construction 34,851,557 Commercial 33,522,978 Less: Allowance for loan losses (1,848,120) Total mortgage loans on real estate and construction loans held for investment $ 112,546,905 Real estate held for investment - net of depreciation $ 114,852,432 Policy and other loans at amortized cost: Policy loans $ 6,896,457 Other loans 33,592,580 Less: Allowance for doubtful accounts (906,616) Total policy and other loans at amortized cost $ 39,582,421 Short-term investments at amortized cost $ 16,915,808
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: 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 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

Note 2_ Investments_ Schedule o

Note 2: Investments: Schedule of Unrealized Loss on Investments (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2015 U.S. Treasury Securities and Obligations of U.S. Government Agencies $ 4,743 2 $ - 0 $ 4,743 Obligations of States and Political Subdivisions - 0 1,040 1 1,040 Corporate Securities 3,701,572 98 1,800,171 18 5,501,743 Mortgage and other asset-backed securities 75,580 4 - 0 75,580 Total unrealized losses $ 3,781,895 104 $ 1,801,211 19 $ 5,583,106 Fair Value $34,076,401 $ 3,809,957 $ 7,886,358 At December 31, 2014 Obligations of States and Political Subdivisions $ - 0 $ 5,278 1 $ 5,278 Corporate Securities 548,310 21 432,047 11 980,357 Mortgage and other asset-backed securities 3,966 1 7,928 0 11,894 Total unrealized losses $ 552,276 22 $ 445,253 12 $ 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 December 31, 2015 Industrial, miscellaneous and all other $ 997,862 222 $ 676,232 74 $1,674,094 Total unrealized losses $ 997,862 222 $ 676,232 74 $1,674,094 Fair Value $4,177,709 $ 760,860 $4,938,569 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

Note 2_ Investments_ Investment

Note 2: Investments: Investments Classified by Contractual Maturity Date (Tables)	12 Months Ended
	Dec. 31, 2015
Held-to-maturity Securities
Investments Classified by Contractual Maturity Date	Amortized Estimated Fair Cost Value Held to Maturity: Due in 2016 $ 5,496,865 $ 5,592,783 Due in 2017 through 2020 34,664,714 36,788,278 Due in 2021 through 2025 34,792,146 35,259,361 Due after 2025 64,900,790 67,017,864 Mortgage-backed securities 5,091,887 5,207,174 Redeemable preferred stock 612,023 641,698 Total held to maturity $ 145,558,425 $ 150,507,158
Available-for-sale Securities
Investments Classified by Contractual Maturity Date	Estimated Fair Cost Value Available for Sale: Common stock $ 9,891,500 $ 8,431,090 Total available for sale $ 9,891,500 $ 8,431,090

Note 2_ Investments_ Gain (Loss

Note 2: Investments: Gain (Loss) on Investments (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Gain (Loss) on Investments	2015 2014 2013 Fixed maturity securities held to maturity: Gross realized gains $ 387,162 $ 390,203 $ 97,238 Gross realized losses (82,166) (71,800) (41,164) Other than temporary impairments (120,000) (120,000) (120,000) Securities available for sale: Gross realized gains 180,602 349,207 540,990 Gross realized losses (66,850) (55,222) (2,678) Other than temporary impairments (293,714) (44,240) (100,304) Other assets: Gross realized gains 2,067,438 1,445,596 824,203 Gross realized losses (84,827) (139,808) (538) Other than temporary impairments (191,716) - (115,922) Total $ 1,795,929 $ 1,753,936 $ 1,081,825

Note 2_ Investments_ Schedule60

Note 2: Investments: Schedule of Major categories of net investment income (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Major categories of net investment income	2015 2014 2013 Fixed maturity securities $ 8,168,441 $ 8,229,451 $ 8,265,949 Equity securities 269,795 212,917 210,491 Mortgage loans on real estate 7,696,533 7,550,110 4,666,910 Real estate 9,454,567 8,433,895 6,658,185 Policy and other loans 749,917 741,220 799,703 Short-term investments, principally gains on sale of mortgage loans 16,516,202 12,397,382 8,952,584 Gross investment income 42,855,455 37,564,975 29,553,822 Investment expenses (8,847,551) (9,261,235) (9,199,820) Net investment income $ 34,007,904 $ 28,303,740 $ 20,354,002

Note 2_ Investments_ Commercial

Note 2: Investments: Commercial Real Estate Investment (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Commercial Real Estate Investment	Net Ending Balance Total Square Footage December 31 December 31 2015 2014 2015 2014 Arizona $ 463,774 (1) $ 477,012 (1) 16,270 16,270 Kansas 11,537,335 10,103,497 222,679 222,679 New Mexico 7,000 (1) 7,000 (1) - - Texas 3,768,542 3,748,571 23,470 23,470 Utah 17,403,746 17,849,072 253,244 297,587 $ 33,180,397 $ 32,185,152 515,663 560,006 (1) Includes Vacant Land

Note 2_ Investments_ Residentia

Note 2: Investments: Residential Real Estate Investment (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Residential Real Estate Investment	Net Ending Balance December 31 2015 2014 Arizona $ 944,614 $ 1,156,808 California 6,158,253 8,119,757 Colorado 553,230 751,825 Florida 9,203,624 10,715,478 Idaho - 276,321 Illinois 165,800 223,033 Louisiana - 323,570 Mississippi - 3,171 Nebraska - 77,247 Oklahoma 99,862 198,486 Oregon 120,000 1,018,245 South Carolina 823,872 850,000 Texas 1,198,860 1,815,373 Utah 62,117,738 (1) 53,410,703 (2) Washington 286,182 286,182 $ 81,672,035 $ 79,226,199

Note 2_ Investments_ The Follow

Note 2: Investments: The Following Is A Summary of The Allowance For Loan Losses As A Contra-asset Account For The Periods Presented (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
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 Years Ended December 31 Commercial Residential Residential Construction Total 2015 Allowance for credit losses: Beginning balance $ 187,129 $ 1,715,812 $ 100,114 $ 2,003,055 Charge-offs - (123,942) - (123,942) Provision - (30,993) - (30,993) Ending balance $ 187,129 $ 1,560,877 $ 100,114 $ 1,848,120 Ending balance: individually evaluated for impairment $ - $ 305,962 $ - $ 305,962 Ending balance: collectively evaluated for impairment $ 187,129 $ 1,254,915 $ 100,114 $ 1,542,158 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - Mortgage loans: Ending balance $ 33,522,978 $ 46,020,490 $ 34,851,557 $ 114,395,025 Ending balance: individually evaluated for impairment $ - $ 3,087,161 $ 93,269 $ 3,180,430 Ending balance: collectively evaluated for impairment $ 33,522,978 $ 42,933,329 $ 34,758,287 $ 111,214,594 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - 2014 Allowance for credit losses: Beginning balance $ 187,129 $ 1,364,847 $ 100,114 $ 1,652,090 Charge-offs - (38,444) - (38,444) Provision - 389,409 - 389,409 Ending balance $ 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 $ - $ - $ - $ -

Note 2_ Investments_ Schedule64

Note 2: Investments: Schedule of aging of mortgage loans (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of aging of mortgage loans	Age Analysis of Past Due Mortgage Loans Years Ended December 31 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 2015 Commercial $ - $ - $ - $ - $ - $ 33,522,978 $ 33,522,978 $ (187,129) $ 33,335,849 Residential 1,162,102 884,143 2,212,993 3,087,161 7,346,399 38,674,091 46,020,490 (1,560,877) 44,459,613 Residential Construction - - 64,895 93,269 158,164 34,693,393 34,851,557 (100,114) 34,751,443 Total $ 1,162,102 $ 884,143 $ 2,277,888 $ 3,180,430 $ 7,504,563 $ 106,890,462 $ 114,395,025 $ (1,848,120) $ 112,546,905 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) There was not any interest income recognized on loans past due greater than 90 days or in foreclosure.

Note 2_ Investments_ Schedule65

Note 2: Investments: Schedule of Impaired Mortgage Loans (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Impaired Mortgage Loans	Impaired Loans Years Ended December 31 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized 2015 With no related allowance recorded: Commercial $ - $ - $ - $ - $ - Residential - - - - - Residential construction 93,269 93,269 - 93,269 - With an allowance recorded: Commercial $ - $ - $ - $ - $ - Residential 3,087,161 3,087,161 305,962 3,087,161 - Residential construction - - - - - Total: Commercial $ - $ - $ - $ - $ - Residential 3,087,161 3,087,161 305,962 3,087,161 - Residential construction 93,269 93,269 - 93,269 - 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 -

Note 2_ Investments_ The Compan

Note 2: Investments: The Company's Performing and Non-performing Mortgage Loans Were As Follows (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
The Company's Performing and Non-performing Mortgage Loans Were As Follows:	The Company’s performing and non-performing mortgage loans were as follows: Mortgage Loan Credit Exposure Credit Risk Profile Based on Payment Activity Years Ended December 31 Commercial Residential Residential Construction Total 2015 2014 2015 2014 2015 2014 2015 2014 Performing $ 33,522,978 $ 35,388,756 $ 40,720,336 $ 46,571,350 $ 34,693,393 $ 32,592,544 $ 108,936,707 $ 114,552,650 Non-performing - - 5,300,154 7,021,083 158,164 479,394 5,458,318 7,500,477 Total $ 33,522,978 $ 35,388,756 $ 46,020,490 $ 53,592,433 $ 34,851,557 $ 33,071,938 $ 114,395,025 $ 122,053,127

Note 2_ Investments_ Schedule67

Note 2: Investments: Schedule of Mortgate loans on a nonaccrual status (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Mortgate loans on a nonaccrual status	Mortgage Loans on Non-accrual Status Years Ended December 31 2015 2014 Residential $ 5,300,154 $ 7,021,083 Residential construction 158,164 479,394 Total $ 5,458,318 $ 7,500,477

Note 2_ Investments_ Schedule68

Note 2: Investments: Schedule of Principal amounts due on mortgage loans on real estate and construction loans held for investment by category (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Principal amounts due on mortgage loans on real estate and construction loans held for investment by category	Principal Principal Principal Amounts Amounts Amounts Due in Due in Due Total 2016 2017-2020 Thereafter Residential $ 46,020,490 $ 5,018,321 $ 12,625,406 $ 28,376,763 Residential Construction 34,851,557 29,806,506 5,045,051 - Commercial 33,522,978 22,884,669 7,983,293 2,655,017 Total $ 114,395,025 $ 57,709,496 $ 25,653,750 $ 31,031,779

Note 2_ Investments_ Schedule69

Note 2: Investments: Schedule of loan loss reserve which is included in other liabilities and accrued expenses (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of loan loss reserve which is included in other liabilities and accrued expenses	December 31 2015 2014 Balance, beginning of period $ 1,718,150 $ 5,506,532 Provisions for losses 6,295,043 3,053,403 Charge-offs and settlements (5,207,293) (6,841,785) Balance, at December 31 $ 2,805,900 $ 1,718,150

Note 3_ Receivables_ Schedule o

Note 3: Receivables: Schedule of Receivables (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Receivables	Receivables consist of the following: December 31 2015 2014 Trade contracts $ 12,855,595 $ 12,166,838 Receivables from sales agents 3,280,423 1,951,677 Held in Escrow –Southern Security 245,088 278,331 Other 1,345,690 1,428,106 Total receivables 17,726,796 15,824,952 Allowance for doubtful accounts (1,700,696) (1,280,859) Net receivables $ 16,026,100 $ 14,544,093

Note 4_ Value of Business Acq71

Note 4: Value of Business Acquired: Schedule of Value of Business Acquired (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Value of Business Acquired	December 31 2015 2014 Balance at beginning of year $ 8,547,627 $ 8,680,845 Value of business acquired 1,473,272 1,169,428 Imputed interest at 7% 590,108 591,412 Amortization (1,867,234) (1,894,058) Net amortization charged to income (1,277,126) (1,302,646) Balance at end of year $ 8,743,773 $ 8,547,627

Note 4_ Value of Business Acq72

Note 4: Value of Business Acquired: Goodwill and Intangible Assets Disclosure (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Goodwill and Intangible Assets Disclosure	December 31 2015 2014 Balance at beginning of year $ 2,765,570 $ 677,039 Goodwill acquired - 2,373,722 (1) Other - (285,191) (2) Balance at end of year $ 2,765,570 $ 2,765,570

Note 5_ Property and Equipment_

Note 5: Property and Equipment: Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Property, Plant and Equipment	December 31 2015 2014 Land and buildings $ 13,126,195 $ 11,904,100 Furniture and equipment 16,613,862 15,822,957 29,740,057 27,727,057 Less accumulated depreciation (18,298,397) (16,419,343) Total $ 11,441,660 $ 11,307,714

Note 6_ Bank and Other Loans 74

Note 6: Bank and Other Loans Payable: Summary of Bank Loans Payable (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Summary of Bank Loans Payable	December 31 2015 2014 6.34% note payable in monthly installments of $13,556 including principal and interest, collateralized by real property with a book value of approximately $498,000, due November 2017. $ 312,240 $ 466,937 2.50% note payable in monthly principal payments of $11,127 plus interest, collateralized by real property with a book value of approximately $5,815,000, due May 2016. 3,260,266 3,398,099 Mark to market of interest rate swaps (discussed below) adjustment 13,947 31,370 3.85% note payable in monthly installments of $79,468 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, paid in full. - 461,889 3.85% note payable in monthly installments of $86,059 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due January 2018. 2,062,512 2,994,999 4.40% note payable in monthly installments of $46,825 including principal and interest, collateralized by real property with a book value of approximately $11,989,000, due January 2026. 8,135,438 8,333,550 4.329% note payable in monthly installments of $9,775 including principal and interest, collateralized by real property with a book value of approximately $3,089,000, due September 2025. 2,020,993 - 2.75% above the 90 day LIBOR rate (3.1523% at December 31, 2015) construction and term loan payable, collateralized by real property with a book value of approximately $36,676,000, due October 2016. 24,933,346 13,085,189 Other collateralized bank loans payable 169,212 247,384 Other notes payable 961 961 Total bank and other loans 40,908,915 29,020,378 Less current installments 29,638,052 5,248,043 Bank and other loans, excluding current installments $ 11,270,863 $ 23,772,335

Note 6_ Bank and Other Loans 75

Note 6: Bank and Other Loans Payable: Schedule of combined maturities of bank loans payable, lines of credit and notes and contracts payable (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of combined maturities of bank loans payable, lines of credit and notes and contracts payable	2016 $ 29,638,052 2017 1,451,815 2018 372,668 2019 286,967 2020 298,283 Thereafter 8,861,130 Total $ 40,908,915

Note 7_ Cemetery and Mortuary76

Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds: Schedule of the components of the cemetery perpetual care obligation (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of the components of the cemetery perpetual care obligation	December 31 2015 2014 Trust investments, at market value $ 2,848,759 $ 2,645,423 Note receivables from Cottonwood Mortuary Singing Hills Cemetery and Memorial Estates eliminated in consolidation 1,780,618 1,847,892 Total trust assets 4,629,377 4,493,315 Cemetery perpetual care obligation (3,465,771) (3,406,718) Fair value of trust assets in excess of trust obligations $ 1,163,606 $ 1,086,597

Note 7_ Cemetery and Mortuary77

Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds: Schedule of Restricted Assets in Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Restricted Assets in Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds	December 31 2015 2014 Cash and cash equivalents $ 7,206,863 $ 7,274,685 Mutual funds 596,994 627,154 Fixed maturity securities 8,775 8,775 Equity securities 89,450 88,048 Participating in mortgage loans with Security National Life 1,457,720 1,349,135 Total $ 9,359,802 $ 9,347,797

Note 8_ Income Taxes_ Summary o

Note 8: Income Taxes: Summary of Income Tax Liability (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Summary of Income Tax Liability	December 31 2015 2014 Current $ (215,366) $ (333,350) Deferred 25,267,425 20,755,117 Total $ 25,052,059 $ 20,421,767

Note 8_ Income Taxes_ Schedule

Note 8: Income Taxes: Schedule of components of Deferred Tax Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of components of Deferred Tax Liabilities	December 31 2015 2014 Assets Future policy benefits $ (8,023,302) $ (6,856,001) Loan loss reserve (1,163,700) (670,078) Unearned premium (1,610,684) (1,687,059) Available for sale securities (150,984) (125,797) Net operating loss (588,537) (1,738,137) Deferred compensation (1,994,927) (1,279,860) Deposit obligations (1,026,984) (1,018,313) Other (2,242,029) (1,398,152) Less: Valuation allowance 5,276,431 5,276,431 Total deferred tax assets (11,524,716) (9,496,966) Liabilities Deferred policy acquisition costs 14,838,604 12,271,954 Basis difference in property and equipment 9,375,146 7,049,551 Value of business acquired 2,972,883 2,906,193 Deferred gains 6,902,888 5,472,003 Trusts 1,599,657 1,599,657 Tax on unrealized appreciation 1,102,963 952,725 Total deferred tax liabilities 36,792,141 30,252,083 Net deferred tax liability $ 25,267,425 $ 20,755,117

Note 8_ Income Taxes_ Schedul80

Note 8: Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Components of Income Tax Expense (Benefit)	2015 2014 2013 Current Federal $ 2,423,846 $ 1,532,539 $ 1,564,311 State 412,175 121,124 257,228 2,836,021 1,653,663 1,821,539 Deferred Federal 4,001,873 2,677,319 399,919 State 360,791 395,323 16,348 4,362,664 3,072,642 416,269 Total $ 7,198,685 $ 4,726,305 $ 2,237,806

Note 8_ Income Taxes_ Schedul81

Note 8: Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Effective Income Tax Rate Reconciliation	2015 2014 2013 Computed expense at statutory rate $ 6,739,332 $ 4,243,524 $ 3,340,067 State tax expense, net of federal tax benefit 510,158 340,855 180,560 Tax audit settlements - - 20,371 Other, net (50,805) 141,926 (1,303,192) Tax expense (benefit) $ 7,198,685 $ 4,726,305 $ 2,237,806

Note 9_ Reinsurance, Commitme82

Note 9: Reinsurance, Commitments and Contingencies: Schedule of Future Minimum Rental Payments for Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Future Minimum Rental Payments for Operating Leases	Years Ending December 31 2016 $ 5,447,528 2017 4,520,592 2018 2,493,007 2019 1,036,826 2020 218,923 Total $ 13,716,876

Note 11_ Capital Stock_ Schedul

Note 11: Capital Stock: Schedule of Activity in shares of capital stock (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Activity in shares of capital stock	Class A Class C (1) Balance at December 31, 2012 10,843,576 1,097,410 Exercise of stock options 359,786 211,211 Stock dividends 562,152 63,342 Conversion of Class C to Class A 41,773 (41,773) Balance at December 31, 2013 11,807,287 1,330,191 Exercise of stock options 54,412 - Stock dividends 595,020 66,384 Reverse stock split true up - 15 Conversion of Class C to Class A 2,521 (2,521) Balance at December 31, 2014 12,459,240 1,394,069 Exercise of stock options 23,961 241,652 Stock dividends 624,483 75,335 Conversion of Class C to Class A 1,416 (1,416) Balance at December 31, 2015 13,109,100 1,709,640

Note 11_ Capital Stock_ Sched84

Note 11: Capital Stock: Schedule of Basic and diluted earnings per share (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Basic and diluted earnings per share	2015 2014 2013 Numerator: Net earnings $ 12,622,880 $ 7,754,648 $ 7,585,921 Denominator: Denominator for basic earnings per share-weighted-average shares 13,722,201 13,176,187 13,023,473 Effect of dilutive securities Employee stock options 488,151 429,729 646,324 Dilutive potential common shares 488,151 429,729 646,324 Denominator for diluted earnings (loss) per share-adjusted weighted-average shares and assumed conversions 14,210,352 13,605,916 13,669,797 Basic earnings per share $0.92 $0.59 $0.58 Diluted earnings per share $0.89 $0.57 $0.55

Note 12_ Stock Compensation P85

Note 12: Stock Compensation Plans: Schedule of Activity of the 2003 Plan (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Activity of the 2003 Plan	Activity of the stock option plans is summarized as follows: Number of Class A Shares Weighted Average Exercise Price Number of Class C Shares Weighted Average Exercise Price Outstanding at December 31, 2012 972,253 $ 2.07 583,851 $ 2.18 Adjustment for the effect of stock dividends 17,962 24,222 Granted 81,960 50,000 Exercised (485,366) (190,602) Cancelled (76,676) (63,814) Reclass from A to C (105,000) 105,000 Outstanding at December 31, 2013 405,133 $ 2.41 508,657 $ 2.00 Adjustment for the effect of stock dividends 24,446 32,934 Granted 173,500 150,000 Exercised (59,713) - Cancelled (30,571) - Outstanding at December 31, 2014 512,795 $ 3.20 691,591 $ 2.54 Adjustment for the effect of stock dividends 29,335 27,497 Granted 133,500 100,000 Exercised (26,850) (241,652) Cancelled (30,519) - Outstanding at December 31, 2015 618,261 $ 3.89 577,436 $ 3.54 Exercisable at end of year 478,086 $ 3.16 472,436 $ 2.77 Available options for future grant 454,842 57,750 Weighted average contractual term of options outstanding at December 31, 2015 7.67 years 2.75 years Weighted average contractual term of options exercisable at December 31, 2015 7.01 years 2.2 years Aggregated intrinsic value of options outstanding at December 31, 2015 (1) $1,473,046 $1,639,692 Aggregated intrinsic value of options exercisable at December 31, 2015 (1) $1,473,046 $1,639,692 (1) The Company used a stock price of $6.24 as of December 31, 2015 to derive intrinsic value.

Note 13_ Statutory Financial 86

Note 13: Statutory Financial Information and Dividend Limitations: Schedule of statutory accounting practices (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of statutory accounting practices	Net Income Capital and Surplus 2015 2014 2013 2015 2014 Amounts by insurance subsidiary: Security National Life Insurance Company $ 3,478,338 $ 5,137,208 $ 1,283,311 $ 32,771,066 $ 34,356,157 Memorial Insurance Company of America 49 415 237 1,082,059 1,082,587 Southern Security Life Insurance Company, Inc. 491 467 1,288 1,590,605 1,590,424 Trans-Western Life Insurance Company (52) 1,304 1,906 499,130 499,182 Total $ 3,478,826 $ 5,139,394 $ 1,286,742 $ 35,942,860 $ 37,528,350

Note 14_ Business Segment Inf87

Note 14: Business Segment Information: Schedule of Segment Reporting Information, by Segment (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Segment Reporting Information, by Segment	2015 Life Cemetery/ Reconciling Insurance Mortuary Mortgage Items Consolidated Revenues: From external sources: Revenue from customers $ 58,883,721 $ 11,502,045 $ 171,849,594 $ - $ 242,235,360 Net investment income 25,297,486 450,854 8,259,564 - 34,007,904 Realized gains (losses) on investments and other assets 2,332,456 387,316 (318,413) - 2,401,359 Other than temporary impairments (413,714) - (191,716) - (605,430) Other revenues 824,759 146,831 4,150,217 - 5,121,807 Intersegment revenues: Net investment income 7,615,338 1,155,180 326,822 (9,097,340) - Total revenues 94,540,046 13,642,226 184,076,068 (9,097,340) 283,161,000 Expenses: Death and other policy benefits 33,549,893 - - - 33,549,893 Increase in future policy benefits 17,212,001 - - - 17,212,001 Amortization of deferred policy and preneed acquisition costs and value of business acquired 5,306,781 334,512 - - 5,641,293 Depreciation 710,733 403,066 1,069,697 - 2,183,496 General, administrative and other costs: Intersegment - 156,777 199,244 (356,021) - Provision for loan losses - - 6,295,043 - 6,295,043 Costs related to funding mortgage loans - - 8,864,404 - 8,864,404 Other 27,416,860 10,117,012 147,600,822 (1) 185,134,693 Interest expense: Intersegment 726,919 1,379,668 6,634,731 (8,741,318) - Other 1,151,860 337,632 2,969,120 - 4,458,612 Total benefits and expenses 86,075,047 12,728,667 173,633,061 (9,097,340) 263,339,435 Earnings before income taxes $ 8,464,999 $ 913,559 $ 10,443,007 $ - $ 19,821,565 Income tax expense (3,138,929) - (4,059,756) - (7,198,685) Net earnings $ 5,326,070 $ 913,559 $ 6,383,251 $ - $ 12,622,880 Identifiable assets $ 721,362,741 $ 101,935,898 $ 66,743,342 $ (140,108,664) $ 749,933,317 Goodwill $ 2,765,570 $ - $ - $ - $ 2,765,570 Expenditures for long-lived assets $ 3,024,223 $ 154,226 $ 454,241 $ - $ 3,632,690 2014 Life Cemetery/ Reconciling Insurance Mortuary Mortgage Items Consolidated Revenues: From external sources: Revenue from customers $ 57,037,623 $ 11,426,308 $ 124,668,054 $ - $ 193,131,985 Net investment income 23,008,489 275,324 5,019,927 - 28,303,740 Realized gains (losses) on investments and other assets 1,208,391 585,543 124,242 - 1,918,176 Other than temporary impairments (164,240) - - - (164,240) Other revenues 682,682 169,464 2,894,867 - 3,747,013 Intersegment revenues: Net investment income 6,128,389 1,288,856 642,880 (8,060,125) - Total revenues 87,901,334 13,745,495 133,349,970 (8,060,125) 226,936,674 Expenses: Death and other policy benefits 29,789,964 - - - 29,789,964 Increase in future policy benefits 18,060,151 - - - 18,060,151 Amortization of deferred policy and preneed acquisition costs and value of business acquired 6,561,589 331,389 - - 6,892,978 Depreciation 644,510 436,390 1,096,265 - 2,177,165 General, administrative and other costs: Intersegment 24,000 166,079 208,513 (398,592) - Provision for loan losses - - 3,053,403 - 3,053,403 Costs related to funding mortgage loans - - 6,877,069 - 6,877,069 Other 23,045,928 10,245,144 111,319,492 (2) 144,610,562 Interest expense: Intersegment 725,354 1,481,317 5,454,860 (7,661,531) - Other 578,083 421,920 1,994,426 - 2,994,429 Total benefits and expenses 79,429,579 13,082,239 130,004,028 (8,060,125) 214,455,721 Earnings before income taxes $ 8,471,755 $ 663,256 $ 3,345,942 $ - $ 12,480,953 Income tax expense (3,427,254) - (1,299,051) - (4,726,305) Net earnings $ 5,044,501 $ 663,256 $ 2,046,891 $ - $ 7,754,648 Identifiable assets $ 652,348,803 $ 109,114,226 $ 52,349,204 $ (142,742,671) $ 671,069,562 Goodwill $ 2,765,570 $ - $ - $ - $ 2,765,570 Expenditures for long-lived assets $ 1,420,950 $ 121,677 $ 737,936 $ - $ 2,280,563 2013 Life Cemetery/ Reconciling Insurance Mortuary Mortgage Items Consolidated Revenues: From external sources: Revenue from customers $ 51,322,567 $ 12,000,375 $ 127,950,021 $ - $ 191,272,963 Net investment income 15,877,784 268,923 4,207,295 - 20,354,002 Realized gains (losses) on investments and other assets 1,402,352 15,699 - - 1,418,051 Other than temporary impairments (336,226) - - - (336,226) Other revenues 538,009 94,703 1,973,518 - 2,606,230 Intersegment revenues: Net investment income 7,220,282 1,356,825 262,074 (8,839,181) - Total revenues 76,024,768 13,736,525 134,392,908 (8,839,181) 215,315,020 Expenses: Death and other policy benefits 28,534,936 - - - 28,534,936 Increase in future policy benefits 19,594,890 - - - 19,594,890 Amortization of deferred policy and preneed acquisition costs and value of business acquired 4,811,300 370,537 - - 5,181,837 Depreciation 401,893 426,641 792,535 - 1,621,069 General, administrative and other costs: Intersegment 24,000 141,367 199,193 (364,560) - Provision for loan losses - - 1,751,472 - 1,751,472 Costs related to funding mortgage loans - - 6,635,290 - 6,635,290 Other 18,753,753 10,467,717 110,096,627 1 139,318,098 Interest expense: Intersegment 802,352 1,664,096 6,008,174 (8,474,622) - Other 233,343 443,133 2,177,225 - 2,853,701 Total benefits and expenses 73,156,467 13,513,491 127,660,516 (8,839,181) 205,491,293 Earnings before income taxes $ 2,868,301 $ 223,034 $ 6,732,392 $ - $ 9,823,727 Income tax (expense) benefit 399,304 - (2,637,110) - (2,237,806) Net earnings $ 3,267,605 $ 223,034 $ 4,095,282 $ - $ 7,585,921 Identifiable assets $ 591,465,834 $ 114,454,631 $ 50,250,677 $ (137,413,688) $ 618,757,454 Goodwill $ 391,848 $ 285,191 $ - $ - $ 677,039 Expenditures for long-lived assets $ 659,259 $ 1,100,195 $ 1,810,879 $ - $ 3,570,333

Note 16_ Fair Value of Financ88

Note 16: Fair Value of Financial Instruments: Schedule of fair value assets and liabilities measured on a recurring basis (Tables)	12 Months Ended
	Dec. 31, 2015
AsOfDecember312015Member
Schedule of fair value assets and liabilities measured on a 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 $ 8,431,090 $ 8,431,090 $ - $ - Total securities available for sale 8,431,090 8,431,090 - - Restricted assets of cemeteries and mortuaries 686,444 686,444 - - Cemetery perpetual care trust investments 630,854 630,854 - - Derivatives - interest rate lock commitments 3,440,758 - - 3,440,758 Total assets accounted for at fair value on a recurring basis $ 13,189,146 $ 9,748,388 $ - $ 3,440,758 Liabilities accounted for at fair value on a recurring basis Policyholder account balances $ (50,694,953) $ - $ - $ (50,694,953) Future policy benefits - annuities (69,398,617) - - (69,398,617) Derivatives - bank loan interest rate swaps (13,947) - - (13,947) - call options (16,342) (16,342) - - - put options (28,829) (28,829) - - - interest rate lock commitments (107,667) - - (107,667) Total liabilities accounted for at fair value on a recurring basis $ (120,260,355) $ (45,171) $ - $ (120,215,184)
AsOfDecember312014Member
Schedule of fair value assets and liabilities measured on a 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 Non-redeemable preferred stock 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) - - - interest rate lock commitments (11,867) (11,867) - - Total liabilities accounted for at fair value on a recurring basis (181,678) - - (181,678) Liabilities accounted for at fair value on a recurring basis $ (111,192,635) $ (127,903) $ - $ (111,064,732)

Note 16_ Fair Value of Financ89

Note 16: Fair Value of Financial Instruments: Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs (Tables)	12 Months Ended
	Dec. 31, 2015
AsOfDecember312015Member
Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs	Policyholder Account Balances Future Policy Benefits - Annuities Interest Rate Lock Commitments Bank Loan Interest Rate Swaps Balance - December 31, 2014 $ (45,310,699) $ (65,540,985) $ 1,929,851 $ (31,370) Total Losses (Gains): Included in earnings (5,384,254) (3,857,632) - - Included in other comprehensive income (loss) - - 1,403,240 17,423 Balance - December 31, 2015 $ (50,694,953) $ (69,398,617) $ 3,333,091 $ (13,947)
AsOfDecember312014Member
Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs	Balance - December 31, 2013 $ (48,000,668) $ (65,052,928) $ 1,487,908 $ (58,310) Total Losses (Gains): Included in earnings 2,689,969 (488,057) - - Included in other comprehensive income (loss) - - 441,943 26,940 Balance - December 31, 2014 $ (45,310,699) $ (65,540,985) $ 1,929,851 $ (31,370)

Note 16_ Fair Value of Financ90

Note 16: Fair Value of Financial Instruments: Fair Value Assets Measured on a Nonrecurring Basis (Tables)	12 Months Ended
	Dec. 31, 2015
AsOfDecember312015Member
Fair Value Assets Measured on a Nonrecurring 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 nonrecurring basis Mortgage servicing rights $ 6,217,551 $ - $ - $ 6,217,551 Real estate held for investment 95,000 - - 95,000 Total assets accounted for at fair value on a nonrecurring basis $ 6,312,551 $ - $ - $ 6,312,551
AsOfDecember312014Member
Fair Value Assets Measured on a Nonrecurring 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 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

Note 16_ Fair Value of Financ91

Note 16: Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables)	12 Months Ended
	Dec. 31, 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 $ 44,459,613 $ - $ - $ 47,193,950 $ 47,193,950 Residential construction 34,751,443 - - 34,751,443 34,751,443 Commercial 33,335,849 - - 34,778,136 34,778,136 Mortgage loans, net $ 112,546,905 $ - $ - $ 116,723,529 $ 116,723,529 Policy loans 6,896,457 - - 6,896,457 6,896,457 Other loans 32,685,964 - - 32,685,964 32,685,964 Short-term investments 16,915,808 - - 16,915,808 16,915,808 Liabilities Bank and other loans payable $ (40,894,968) $ - $ - $ (40,894,968) $ (40,894,968) 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)

Note 17_ Accumulated Other Co92

Note 17: Accumulated Other Comprehensive Income: Schedule of Changes in accumulated other comprehensive income (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Changes in accumulated other comprehensive income	December 31 2015 2014 Unrealized losses on available for-sale securities $ (1,289,508) $ (390,143) Reclassification adjustment for net realized gains in net income 113,751 293,985 Net unrealized gains (losses) before taxes (1,175,757) (96,158) Tax (expense) benefit 404,414 30,310 Net (771,343) (65,848) Potential unrealized gains for derivative bank loans (interest rate swaps) before taxes 17,423 26,940 Tax expense (6,794) (10,507) Net 10,629 16,433 Potential unrealized gains (losses) for derivative mortgage loans before taxes 1,403,240 441,943 Tax (expense) benefit (547,264) (172,358) Net 855,976 269,585 Other comprehensive income (loss) changes $ 95,262 $ 220,170

Note 17_ Accumulated Other Co93

Note 17: Accumulated Other Comprehensive Income: Accumulated Balances of Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2015
AsOfDecember312015Member
Accumulated Balances of Other Comprehensive Income	Beginning Balance December 31, 2014 Change for the period Ending Balance December 31, 2015 Unrealized net gains on available-for-sale securities and trust investments $ 280,493 $ (771,343) $ (490,850) Unrealized gains (losses) on derivative mortgage loans 1,177,209 855,976 2,033,185 Unrealized gains (losses) on derivative bank loan interest rate swaps (19,136) 10,629 (8,507) Other comprehensive income $ 1,438,566 $ 95,262 $ 1,533,828
AsOfDecember312014Member
Accumulated Balances of Other Comprehensive Income	Beginning Balance December 31, 2013 Change for the period Ending Balance December 31, 2014 Unrealized net gains on available-for-sale securities and trust investments $ 346,341 $ (65,848) $ 280,493 Unrealized gains (losses) on derivative mortgage loans 907,624 269,585 1,177,209 Unrealized gains (losses) on derivative bank loan interest rate swaps (35,569) 16,433 (19,136) Other comprehensive income $ 1,218,396 $ 220,170 $ 1,438,566
As Of December 31 2013
Accumulated Balances of Other Comprehensive Income	Beginning Balance December 31, 2012 Change for the period Ending Balance December 31, 2013 Unrealized net gains on available-for-sale securities and trust investments $ 41,550 $ 304,791 $ 346,341 Unrealized gains (losses) on derivative mortgage loans 1,954,567 (1,046,943) 907,624 Unrealized gains (losses) on derivative bank loan interest rate swaps (61,758) 26,189 (35,569) Other comprehensive income $ 1,934,359 $ (715,963) $ 1,218,396

Note 18_ Derivative Commitmen94

Note 18: Derivative Commitments: Schedule of Derivative Assets at Fair Value (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Derivative Assets at Fair Value	Fair Value of Derivative Instruments Asset Derivatives Liability Derivatives December 31, 2015 December 31, 2014 December 31, 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 $3,440,758 other assets $ 2,111,529 Other liabilities $107,667 Other liabilities $181,678 Call Options - - Other liabilities 16,342 Other liabilities 116,036 Put Options - - Other liabilities 28,829 Other liabilities 11,867 Interest rate swaps - - Bank loans payable 13,947 Bank loans payable 31,370 Total $3,440,758 $ 2,111,529 $166,785 $340,951

Note 18_ Derivative Commitmen95

Note 18: Derivative Commitments: Schedule of Gains and Losses on Derivatives (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Gains and Losses on Derivatives	Net Amount Gain (Loss) Recognized in OCI Years ended December 31 Derivative - Cash Flow Hedging Relationships: 2015 2014 Interest Rate Lock Commitments $ 1,403,240 $ 441,943 Interest Rate Swaps 17,423 26,940 Sub Total 1,420,663 468,883 Tax Effect 554,058 182,865 Total $ 866,605 $ 286,018

Note 19_ Acquisitions_ The Esti

Note 19: Acquisitions: The Estimated Fair Values of The Assets Acquired and The Liabilities Assumed At The Date of Acquisition (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
The Estimated Fair Values of The Assets Acquired and The Liabilities Assumed At The Date of Acquisition	Other loans, net $ 11,866,193 Property and equipment 760,120 Goodwill 2,373,722 Other 1,379,158 Total assets acquired 16,379,193 Other liabilities and accrued expenses (1,368,000) Total liabilities assumed (1,368,000) Fair value of net assets acquired $ 15,011,193

Note 19_ Acquisitions_ Acquisit

Note 19: Acquisitions: Acquisition of Trans-Western Pro Forma (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Acquisition of Trans-Western Pro Forma	For the Year Ended December 31 (unaudited) 2015 2014 2013 Total revenues $ 283,161,000 $ 229,268,653 $ 220,011,370 Net earnings $ 12,622,880 $ 7,996,405 $ 7,963,589 Net earnings per Class A equivalent common share $ 0.92 $ 0.61 $ 0.61 Net earnings per Class A equivalent common share assuming dilution $ 0.89 $ 0.59 $ 0.58

Note 20_ Mortgage Servicing R98

Note 20: Mortgage Servicing Rights: Schedule of mortgage servicing rights (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of mortgage servicing rights	December 31 2015 2014 Amortized cost: Balance before valuation allowance at beginning of year $ 7,834,747 $ 4,844,101 MSRs received as proceeds from loan sales 6,217,551 3,741,381 Amortization (1,372,543) (750,735) Application of valuation allowance to write down MSRs with other than temporary impairment - - Balance before valuation allowance at year end $ 12,679,755 $ 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 year end $ - $ - Mortgage servicing rights, net $ 12,679,755 $ 7,834,747 Estimated fair value of MSRs at year end $ 13,897,160 $ 8,485,570

Note 20_ Mortgage Servicing R99

Note 20: Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights Amortization (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Mortgage Servicing Rights Amortization	Estimated MSR Amortization 2016 $ 1,408,862 2017 1,408,862 2018 1,408,862 2019 1,408,862 2020 1,408,862 Thereafter 5,635,445 Total $ 12,679,755

Note 21_ Quarterly Financial100

Note 21: Quarterly Financial Data (unaudited): Schedule of Quarterly Financial Information (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Quarterly Financial Information	2015 Three Months Ended March 31 June 30 September 30 December 31 Revenues $ 64,049,632 $ 76,040,615 $ 75,494,686 $ 67,576,067 Benefits and expenses 61,051,248 69,808,663 67,700,286 64,779,238 Earnings before income taxes 2,998,384 6,231,952 7,794,400 2,796,829 Income tax expense (1,134,681) (2,379,673) (2,904,615) (779,716) Net earnings 1,863,703 3,852,279 4,889,785 2,017,113 Net earnings per common share (1) $0.14 $0.28 $0.35 $0.15 Net earnings per common share assuming dilution (1) $0.13 $0.27 $0.34 $0.14 2014 Three Months Ended March 31 June 30 September 30 December 31 Revenues $ 45,053,276 $ 59,411,730 $ 61,725,792 $ 60,745,876 Benefits and expenses 44,887,289 55,224,633 58,348,652 55,995,147 Earnings before income taxes 165,987 4,187,097 3,377,140 4,750,729 Income tax expense (27,139) (1,563,034) (1,239,318) (1,896,814) Net earnings 138,848 2,624,063 2,137,822 2,853,915 Net earnings per common share (1) $0.01 $0.20 $0.16 $0.22 Net earnings per common share assuming dilution (1) $0.01 $0.19 $0.16 $0.21 2013 Three Months Ended March 31 June 30 September 30 December 31 Revenues $ 54,852,234 $ 61,332,289 $ 50,552,791 $ 48,577,706 Benefits and expenses 51,624,611 56,862,769 48,588,507 48,415,406 Earnings before income taxes 3,227,623 4,469,520 1,964,284 162,300 Income tax benefit (expense) (1,194,357) (1,670,275) (697,793) 1,324,619 Net earnings 2,033,266 2,799,245 1,266,491 1,486,919 Net earnings per common share (1) $0.16 $0.22 $0.10 $0.11 Net earnings per common share assuming dilution (1) $0.14 $0.20 $0.09 $0.11

Note 2_ Investments_ Held-to101

Note 2: Investments: Held-to-maturity Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	$ 145,558,425	$ 135,018,347
Held-to-maturity Securities, Unrecognized Holding Gain	10,531,839	16,736,557
Held-to-maturity Securities, Unrecognized Holding Loss	(5,583,106)	(997,529)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	150,507,158	150,757,375
Mortgage loans on real estate and construction	112,546,905	120,050,072
Mortgage loans on real estate and construction, allowance for losses	(1,848,120)	(2,003,055)
Real estate held for investment, net of depreciation	114,852,432	111,411,351
Policy and Other Loans	39,582,421	34,125,428
Short-term investments at amortized cost	16,915,808	27,059,495
Residential Mortgage
Mortgage loans on real estate and construction	46,020,490	53,592,433
Residential Construction
Mortgage loans on real estate and construction	34,851,557	33,071,938
Commercial Loan
Mortgage loans on real estate and construction	33,522,978	35,388,756
Policy Loan
Policy and Other Loans	6,896,457	7,011,012
Other loans
Policy and Other Loans	33,592,580	27,807,829
Allowance
Policy and Other Loans	(906,616)	(693,413)
US Treasury and Government
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment		1,873,146
Held-to-maturity Securities, Unrecognized Holding Gain		345,715
Held-to-maturity Securities, Unrecognized Holding Loss	(4,743)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.		2,218,861
US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	1,805,828	1,736,489
Held-to-maturity Securities, Unrecognized Holding Gain	182,073	221,893
Held-to-maturity Securities, Unrecognized Holding Loss	(1,040)	(5,278)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	1,986,861	1,953,104
Corporate Debt Securities
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	134,488,108	126,533,483
Held-to-maturity Securities, Unrecognized Holding Gain	9,836,355	15,841,536
Held-to-maturity Securities, Unrecognized Holding Loss	(5,501,743)	(980,357)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	138,822,720	141,394,662
Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	5,091,887	4,263,206
Held-to-maturity Securities, Unrecognized Holding Gain	190,867	305,381
Held-to-maturity Securities, Unrecognized Holding Loss	(75,580)	(11,894)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	5,207,174	4,556,693
Redeemable Preferred Stock
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	612,023	612,023
Held-to-maturity Securities, Unrecognized Holding Gain	29,675	22,032
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	641,698	634,055
Industrial, miscellaneous and all other equity securities
Available-for-sale Securities, Amortized Cost Basis	9,891,500	7,179,010
Available-for-sale Debt Securities Gross Unrealized Gain	213,683	393,873
Available-for-sale Debt Securities, Gross Unrealized Loss	(1,674,094)	(820,133)
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	8,431,090	6,752,750
Equity Securities
Available-for-sale Securities, Amortized Cost Basis	9,891,500	7,179,010
Available-for-sale Debt Securities Gross Unrealized Gain	213,683	393,873
Available-for-sale Debt Securities, Gross Unrealized Loss	(1,674,094)	(820,133)
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	$ 8,431,090	$ 6,752,750

Note 2_ Investments_ Schedul102

Note 2: Investments: Schedule of Unrealized Loss on Investments (Details)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Held-to-maturity Securities, Unrecognized Holding Loss	$ 5,583,106	$ 997,529
Held-to-maturity Securities, Fair Value	7,886,358	9,858,939
Available For Sale Securities Fair Value	4,938,569	2,839,131
US Treasury and Government
Held-to-maturity Securities, Unrecognized Holding Loss	4,743
US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	1,040	5,278
Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	5,501,743	980,357
Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	75,580	11,894
Industrial, miscellaneous and all other equity securities
Available-for-sale Debt Securities, Gross Unrealized Loss	1,674,094	820,133
Equity Securities
Available-for-sale Debt Securities, Gross Unrealized Loss	1,674,094	820,133
Less than 12 months
Held-to-maturity Securities, Unrecognized Holding Loss	$ 3,781,895	$ 552,276
No. of Investment Positions	104	22
Held-to-maturity Securities, Fair Value	$ 34,076,401	$ 7,081,352
Available For Sale Securities Fair Value	4,177,709	$ 2,162,425
Less than 12 months | US Treasury and Government
Held-to-maturity Securities, Unrecognized Holding Loss	$ 4,743
No. of Investment Positions	2
Less than 12 months | US States and Political Subdivisions Debt Securities
No. of Investment Positions	0	0
Less than 12 months | Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	$ 3,701,572	$ 548,310
No. of Investment Positions	98	21
Less than 12 months | Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	$ 75,580	$ 3,966
No. of Investment Positions	4	1
Less than 12 months | Industrial, miscellaneous and all other equity securities
No. of Investment Positions	222	138
Available-for-sale Debt Securities, Gross Unrealized Loss	$ 997,862	$ 327,389
Less than 12 months | Equity Securities
No. of Investment Positions	222	138
Available-for-sale Debt Securities, Gross Unrealized Loss	$ 997,862	$ 327,389
More than 12 months
Held-to-maturity Securities, Unrecognized Holding Loss	$ 1,801,211	$ 445,253
No. of Investment Positions	19	12
Held-to-maturity Securities, Fair Value	$ 3,809,957	$ 2,777,587
Available For Sale Securities Fair Value	$ 760,860	676,706
More than 12 months | US Treasury and Government
No. of Investment Positions	0
More than 12 months | US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	$ 1,040	$ 5,278
No. of Investment Positions	1	1
More than 12 months | Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	$ 1,800,171	$ 432,047
No. of Investment Positions	18	11
More than 12 months | Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss		$ 7,928
No. of Investment Positions	0	0
More than 12 months | Industrial, miscellaneous and all other equity securities
No. of Investment Positions	74	27
Available-for-sale Debt Securities, Gross Unrealized Loss	$ 676,232	$ 492,744
More than 12 months | Equity Securities
No. of Investment Positions	74	27
Available-for-sale Debt Securities, Gross Unrealized Loss	$ 676,232	$ 492,744

Note 2_ Investments_ Fixed Matu

Note 2: Investments: Fixed Maturity Securities - Additional (Details) - Fixed Maturities - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Average market value over amortized cost	87.20%	90.80%
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities	$ 120,000	$ 120,000	$ 120,000

Note 2_ Investments_ Equity Sec

Note 2: Investments: Equity Securities - Additional (Details) - Equity Securities - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Average Market Value of Security over initial investment	74.70%	77.60%
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities	$ 293,714	$ 44,240	$ 100,304

Note 2_ Investments (Details)

Note 2: Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Equity Securities
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities	$ 293,714	$ 44,240	$ 100,304

Note 2_ Investments_ Investm106

Note 2: Investments: Investments Classified by Contractual Maturity Date (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	$ 145,558,425	$ 135,018,347
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	150,507,158	150,757,375
Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	5,091,887	4,263,206
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	5,207,174	4,556,693
Redeemable Preferred Stock
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	612,023	612,023
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	641,698	$ 634,055
Common Stock
Available-for-sale Securities, Amortized Cost Basis	9,891,500
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	8,431,090
DueIn2016Member
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	5,496,865
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	5,592,783
DueIn2017Through2020Member
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	34,664,714
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	36,788,278
DueIn2021Through2025Member
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	34,792,146
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	35,259,361
DueAfter2025Member
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	64,900,790
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	$ 67,017,864

Note 2_ Investments_ Gain (L107

Note 2: Investments: Gain (Loss) on Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Gains and losses and other than temporary impairments from investments and other assets	$ 1,795,929	$ 1,753,936	$ 1,081,825
Held-to-maturity Securities
Gross Realized Gains	387,162	390,203	97,238
Gross Realized Losses	(82,166)	(71,800)	(41,164)
Other than Temporary Impairments	(120,000)	(120,000)	(120,000)
Available-for-sale Securities
Gross Realized Gains	180,602	349,207	540,990
Gross Realized Losses	(66,850)	(55,222)	(2,678)
Other than Temporary Impairments	(293,714)	(44,240)	(100,304)
Other Assets
Gross Realized Gains	2,067,438	1,445,596	824,203
Gross Realized Losses	(84,827)	$ (139,808)	(538)
Other than Temporary Impairments	$ (191,716)		$ (115,922)

Note 2_ Investments_ Fixed M108

Note 2: Investments: Fixed Maturity Securities - Carrying Amount and Net Realized Gain (Details) - Held-to-maturity Securities - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net carrying amount for sales of securities	$ 2,569,712	$ 2,840,709	$ 1,455,835
Net realized gain related to sales of securities	$ 311,752	$ 20,722	$ 12,533

Note 2_ Investments_ Schedul109

Note 2: Investments: Schedule of Major categories of net investment income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Gross Investment Income	$ 42,855,455	$ 37,564,975	$ 29,553,822
Investment Income, Investment Expense	(8,847,551)	(9,261,235)	(9,199,820)
Net Investment Income	34,007,904	28,303,740	20,354,002
Fixed Maturities
Gross Investment Income	8,168,441	8,229,451	8,265,949
Equity Securities
Gross Investment Income	269,795	212,917	210,491
Collateralized Mortgage Backed Securities
Gross Investment Income	7,696,533	7,550,110	4,666,910
Real Estate
Gross Investment Income	9,454,567	8,433,895	6,658,185
PolicyAndOtherLoansMember
Gross Investment Income	749,917	741,220	799,703
Short-term investments, principally gains on sale of mortgage loans
Gross Investment Income	$ 16,516,202	$ 12,397,382	$ 8,952,584

Note 2_ Investments_ Net Invest

Note 2: Investments: Net Investment Income - Additional (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net Investment Income	$ 34,007,904	$ 28,303,740	$ 20,354,002
Securities on deposit for regulatory authorities	8,815,542	8,886,001
Cemeteries and mortuaries
Net Investment Income	$ 369,632	$ 356,369	$ 341,430

Note 2_ Investments_ Commerc111

Note 2: Investments: Commercial Real Estate Investment (Details)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	$ 114,852,432	$ 111,411,351
Commercial Real Estate
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	$ 33,180,397	$ 32,185,152
Square Footage	515,663	560,006
Commercial Real Estate | Arizona
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	$ 463,774	$ 477,012
Square Footage	16,270	16,270
Commercial Real Estate | Kansas
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	$ 11,537,335	$ 10,103,497
Square Footage	222,679	222,679
Commercial Real Estate | New Mexico
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	$ 7,000	$ 7,000
Commercial Real Estate | Texas
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	$ 3,768,542	$ 3,748,571
Square Footage	23,470	23,470
Commercial Real Estate | Utah
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	$ 17,403,746	$ 17,849,072
Square Footage	253,244	297,587

Note 2_ Investments_ Residen112

Note 2: Investments: Residential Real Estate Investment (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	$ 114,852,432	$ 111,411,351
Residential Real Estate
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	81,672,035	79,226,199
Residential Real Estate | Arizona
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	944,614	1,156,808
Residential Real Estate | California
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	6,158,253	8,119,757
Residential Real Estate | Colorado
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	553,230	751,825
Residential Real Estate | Florida
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	9,203,624	10,715,478
Residential Real Estate | Idaho
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014		276,321
Residential Real Estate | Illinois
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	165,800	223,033
Residential Real Estate | Louisiana
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014		323,570
Residential Real Estate | Mississippi
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014		3,171
Residential Real Estate | Nebraska
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014		77,247
Residential Real Estate | Oklahoma
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	99,862	198,486
Residential Real Estate | Oregon
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	120,000	1,018,245
Residential Real Estate | South Carolina
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	823,872	850,000
Residential Real Estate | Texas
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	1,198,860	1,815,373
Residential Real Estate | Utah
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	62,117,738	53,410,703
Residential Real Estate | Washington
Real estate held for investment, net of accumulated depreciation of $12,210,346 and $10,875,419 for 2015 and 2014	$ 286,182	$ 286,182

Note 2_ Investments_ Mortgage L

Note 2: Investments: Mortgage Loans - Additional (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Mortgage loans on real estate balances, net of allowance for losses	$ 1,848,120	$ 2,003,055
Minimum
Mortgage Loan, Interest Rate	2.00%
Maximum
Mortgage Loan, Interest Rate	10.50%

Note 2_ Investments_ The Fol114

Note 2: Investments: The Following Is A Summary of The Allowance For Loan Losses As A Contra-asset Account For The Periods Presented (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses, Beginning Balance	$ 2,003,055	$ 1,652,090
Allowance for credit losses, Charge-offs	(123,942)	(38,444)
Allowance for credit losses, Provision	(30,993)
Financing Receivable, Allowance for Credit Losses, Ending Balance	1,848,120	2,003,055
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	305,962	153,446
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,542,158	1,849,609
Mortgage loans	114,395,025	122,053,127
Financing Receivable, Individually Evaluated for Impairment	3,180,430	1,970,681
Financing Receivable, Collectively Evaluated for Impairment	111,214,594	120,082,446
Allowance for Credit losses, other charge-offs		389,409
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	33,522,978	35,388,756
Financing Receivable, Collectively Evaluated for Impairment	33,522,978	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	(123,942)	(38,444)
Allowance for credit losses, Provision	(30,993)
Financing Receivable, Allowance for Credit Losses, Ending Balance	1,560,877	1,715,812
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	305,962	153,446
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,254,915	1,562,366
Mortgage loans	46,020,490	53,592,433
Financing Receivable, Individually Evaluated for Impairment	3,087,161	1,556,182
Financing Receivable, Collectively Evaluated for Impairment	42,933,329	52,036,251
Allowance for Credit losses, other charge-offs		389,409
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	34,851,557	33,071,938
Financing Receivable, Individually Evaluated for Impairment	93,269	414,499
Financing Receivable, Collectively Evaluated for Impairment	$ 34,758,287	$ 32,657,439

Note 2_ Investments_ Schedul115

Note 2: Investments: Schedule of aging of mortgage loans (Details) - USD ($)		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Mortgage Loans during period		$ 114,395,025	$ 122,053,127
Mortgage Loans, Allowance for Loan Losses		(1,848,120)	(2,003,055)
Mortgage Loans, Net		112,546,905	120,050,072
Commercial Loan
Mortgage Loans during period		33,522,978	35,388,756
Mortgage Loans, Allowance for Loan Losses		(187,129)	(187,129)
Mortgage Loans, Net		33,335,849	35,201,627
Residential Mortgage
Mortgage Loans during period		46,020,490	53,592,433
Mortgage Loans, Allowance for Loan Losses		(1,560,877)	(1,715,812)
Mortgage Loans, Net		44,459,613	51,876,621
Residential Construction
Mortgage Loans during period		34,851,557	33,071,938
Mortgage Loans, Allowance for Loan Losses		(100,114)	(100,114)
Mortgage Loans, Net		34,751,443	32,971,824
Past due 30 to 59 days
Mortgage Loans during period		1,162,102	1,631,142
Past due 30 to 59 days | Residential Mortgage
Mortgage Loans during period		1,162,102	1,631,142
Past due 60 to 89 days
Mortgage Loans during period		884,143	1,174,516
Past due 60 to 89 days | Residential Mortgage
Mortgage Loans during period		884,143	1,174,516
Past due 90 or more days
Mortgage Loans during period	[1]	2,277,888	5,529,796
Past due 90 or more days | Residential Mortgage
Mortgage Loans during period	[1]	2,212,993	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]	3,180,430	1,970,681
In Foreclosure | Residential Mortgage
Mortgage Loans during period	[1]	3,087,161	1,556,182
In Foreclosure | Residential Construction
Mortgage Loans during period	[1]	93,269	414,499
Total Past Due
Mortgage Loans during period		7,504,563	10,306,135
Total Past Due | Residential Mortgage
Mortgage Loans during period		7,346,399	9,826,741
Total Past Due | Residential Construction
Mortgage Loans during period		158,164	479,394
Current
Mortgage Loans during period		106,890,462	111,746,992
Current | Commercial Loan
Mortgage Loans during period		33,522,978	35,388,756
Current | Residential Mortgage
Mortgage Loans during period		38,674,091	43,765,692
Current | Residential Construction
Mortgage Loans during period		$ 34,693,393	$ 32,592,544
[1]	There was not any interest income recognized on loans past due greater than 90 days or in foreclosure.

Note 2_ Investments_ Schedul116

Note 2: Investments: Schedule of Impaired Mortgage Loans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Residential Mortgage
Impaired Financing Receivable, with Related Allowance, Recorded Investment	$ 3,087,161	$ 1,556,182
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	3,087,161	1,556,182
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	3,087,161	1,556,182
Impaired Financing Receivable, Average Recorded Investment	3,087,161	1,556,182
Impaired Financing Receivable, Unpaid Principal Balance	3,087,161	1,556,182
Impaired Financing Receivable, Related Allowance	305,962	$ 153,446
Residential Construction
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	93,269
Impaired Financing Receivable, Average Recorded Investment	$ 93,269

Note 2_ Investments_ The Com117

Note 2: Investments: The Company's Performing and Non-performing Mortgage Loans Were As Follows (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Mortgage loans	$ 114,395,025	$ 122,053,127
Performing
Mortgage loans	108,936,707	114,552,650
Non-performing
Mortgage loans	5,458,318	7,500,477
Commercial Loan
Mortgage loans	33,522,978	35,388,756
Commercial Loan | Performing
Mortgage loans	33,522,978	35,388,756
Residential Mortgage
Mortgage loans	46,020,490	53,592,433
Residential Mortgage | Performing
Mortgage loans	40,720,336	46,571,350
Residential Mortgage | Non-performing
Mortgage loans	5,300,154	7,021,083
Residential Construction
Mortgage loans	34,851,557	33,071,938
Residential Construction | Performing
Mortgage loans	34,693,393	32,592,544
Residential Construction | Non-performing
Mortgage loans	$ 158,164	$ 479,394

Note 2_ Investments_ Summary of

Note 2: Investments: Summary of Interest not accrued on non-performing mortgage loans (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Details
Interest not acrued on non-performing loans	$ 268,000	$ 535,000

Note 2_ Investments_ Schedul119

Note 2: Investments: Schedule of Mortgate loans on a nonaccrual status (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	$ 5,458,318	$ 7,500,477
Residential Mortgage
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	5,300,154	7,021,083
Residential Construction
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	$ 158,164	$ 479,394

Note 2_ Investments_ Schedul120

Note 2: Investments: Schedule of Principal amounts due on mortgage loans on real estate and construction loans held for investment by category (Details)	Dec. 31, 2015USD ($)
Mortgage Loans Principal Amount due	$ 114,395,025
Residential Mortgage
Mortgage Loans Principal Amount due	46,020,490
Residential Construction
Mortgage Loans Principal Amount due	34,851,557
Commercial Loan
Mortgage Loans Principal Amount due	33,522,978
DueInNextYearMember
Mortgage Loans Principal Amount due	57,709,496
DueInNextYearMember | Residential Mortgage
Mortgage Loans Principal Amount due	5,018,321
DueInNextYearMember | Residential Construction
Mortgage Loans Principal Amount due	29,806,506
DueInNextYearMember | Commercial Loan
Mortgage Loans Principal Amount due	22,884,669
DueInYearsTwoThroughFiveMember
Mortgage Loans Principal Amount due	25,653,750
DueInYearsTwoThroughFiveMember | Residential Mortgage
Mortgage Loans Principal Amount due	12,625,406
DueInYearsTwoThroughFiveMember | Residential Construction
Mortgage Loans Principal Amount due	5,045,051
DueInYearsTwoThroughFiveMember | Commercial Loan
Mortgage Loans Principal Amount due	7,983,293
DueThereafterMember
Mortgage Loans Principal Amount due	31,031,779
DueThereafterMember | Residential Mortgage
Mortgage Loans Principal Amount due	28,376,763
DueThereafterMember | Commercial Loan
Mortgage Loans Principal Amount due	$ 2,655,017

Note 2_ Investments_ Schedul121

Note 2: Investments: Schedule of loan loss reserve which is included in other liabilities and accrued expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
Loan loss reserve, balance at start of period	$ 1,718,150	$ 5,506,532
Loan loss reserve, Provisions for losses	6,295,043	3,053,403
Loan loss reserve, Charge-offs and settlements	(5,207,293)	(6,841,785)
Loan loss reserve, balance at end of period	$ 2,805,900	$ 1,718,150

Note 3_ Receivables_ Schedul122

Note 3: Receivables: Schedule of Receivables (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Details
Trade contracts	$ 12,855,595	$ 12,166,838
Receivables from sales agents	3,280,423	1,951,677
Receivables held in escrow	245,088	278,331
Other Receivables	1,345,690	1,428,106
Accounts Receivable, Gross	17,726,796	15,824,952
Allowance for Doubtful Accounts Receivable	(1,700,696)	(1,280,859)
Receivables, net	$ 16,026,100	$ 14,544,093

Note 4_ Value of Business Ac123

Note 4: Value of Business Acquired: Schedule of Value of Business Acquired (Details) - USD ($)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Value of business acquired, balance at start of period						$ 8,743,773	$ 8,547,627	$ 8,680,845
Increase (Decrease) in value of business acquired							1,473,272	1,169,428
Imputed interest on value of business acquired	[1]						590,108	591,412
Value of business acquired - amortization							(1,867,234)	(1,894,058)
Value of business acquired - net amortization charged to income		$ (873,000)	$ (947,000)	$ (1,037,000)	$ (1,115,000)	$ (1,199,000)	(1,277,126)	(1,302,646)
Value of business acquired, balance at start of period							$ 8,743,773	$ 8,547,627
[1]	Imputed interest at 7%.

Note 4_ Value of Business Ac124

Note 4: Value of Business Acquired: Net amortization charged to income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Value of business acquired - net amortization charged to income	$ 873,000	$ 947,000	$ 1,037,000	$ 1,115,000	$ 1,199,000	$ 1,277,126	$ 1,302,646

Note 5_ Property and Equipme125

Note 5: Property and Equipment: Property, Plant and Equipment (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment, Gross	$ 29,740,057	$ 27,727,057
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(18,298,397)	(16,419,343)
Property and equipment, net	11,441,660	11,307,714
Land and Building
Property, Plant and Equipment, Gross	13,126,195	11,904,100
Office Equipment
Property, Plant and Equipment, Gross	$ 16,613,862	$ 15,822,957

Note 5_ Property and Equipment

Note 5: Property and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Depreciation	$ 2,183,496	$ 2,177,165	$ 1,621,069

Note 6_ Bank and Other Loans127

Note 6: Bank and Other Loans Payable: Summary of Bank Loans Payable (Details) - USD ($)		Dec. 31, 2015	Dec. 31, 2014
Bank loans payable		$ 40,908,915	$ 29,020,378
Current Installment		29,638,052	5,248,043
Bank and other loans, excluding current installments		11,270,863	23,772,335
6.34% note payable
Bank loans payable	[1]	312,240	466,937
5.75% note payable
Bank loans payable	[2]	3,260,266	3,398,099
Mark to market of interest rate swaps
Bank loans payable		13,947	31,370
3.85% note payable
Bank loans payable	[3]		461,889
N385ANotePayableMember
Bank loans payable	[4]	2,062,512	2,994,999
N440NotePayableMember
Bank loans payable	[5]	8,135,438	8,333,550
N4329NotePayableMember
Bank loans payable	[6]	2,020,993
N275NotePayableMember
Bank loans payable	[7]	24,933,346	13,085,189
Other collateralized bank loans payable
Bank loans payable		169,212	247,384
Other notes payable
Bank loans payable		$ 961	$ 961
[1]	Payable in monthly installments of $13,556 including principal and interest, collateralized by real property with a book value of approximately $498,000, due November 2017.
[2]	5.75% note payable in monthly installments of $28,271 including principal and interest, collateralized by real property with a book value of approximately $6,183,000 due December 2014.
[3]	3.85% note payable in monthly installments of $79,468 including principal and interest, collateralized by shares of Security National Life Insurance Company Stock, due June 2015.
[4]	3.85% note payable in monthly installments of $86,059 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due December 2017
[5]	4.40% note payable in monthly installments of $46,825 including principal and interest, collateralized by real property with a book value of approximately $12,450,000 due January 2026.
[6]	4.329% note payable in monthly installments of $9,775 including principal and interest, collateralized by real property with a book value of approximately $3,089,000, due September 2025
[7]	2.75% above the 90-day LIBOR rate (3.0052% at December 31, 2014) construction and term loan payable, collateralized by real property with a book value of approximately $22,855,000 due July 2017

Note 6_ Bank and Other Loans128

Note 6: Bank and Other Loans Payable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest Paid	$ 4,458,612	$ 2,994,429	$ 2,853,701
Interest Rate Swap Instrument
Long-term Debt, Fair Value	$ 13,947	31,370
Debt Instrument, Interest Rate, Effective Percentage	2.65%
Derivative Liability	$ 13,947		$ 31,370
Change in accumulated other comprehensive income	$ 17,423	$ 26,940
Revolving Line of Credit 1
Line of Credit Facility, Description	The Company has a $2,000,000 revolving line-of-credit with a bank with interest payable at the prime rate minus .75%
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,000,000
Line of Credit Facility, Interest Rate at Period End	2.75%
Line of Credit Facility, Collateral	secured by the capital stock of Security National Life
Revolving Line of Credit 2
Line of Credit Facility, Description	The Company has a $15,000,000 revolving line-of-credit with a bank with interest payable at the variable overnight Libor rate plus 2%
Line of Credit Facility, Interest Rate at Period End	2.38%
Line of Credit Facility, Collateral	secured by bond investments of the Company
Revolving Line of Credit 3
Line of Credit Facility, Description	The Company has a $2,150,000 revolving line-of-credit with a bank with interest payable at the prime rate plus 1.25%
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,150,000
Line of Credit Facility, Interest Rate at Period End	4.75%
Line of Credit Facility, Collateral	secured by the capital stock of Security National Life

Note 6_ Bank and Other Loans129

Note 6: Bank and Other Loans Payable: Schedule of combined maturities of bank loans payable, lines of credit and notes and contracts payable (Details)	Dec. 31, 2015USD ($)
Bank loans payable, lines of credit and notes and contracts payable	$ 40,908,915
DueInYearOneMember
Bank loans payable, lines of credit and notes and contracts payable	29,638,052
DueInYearTwoMember
Bank loans payable, lines of credit and notes and contracts payable	1,451,815
DueInYearThreeMember
Bank loans payable, lines of credit and notes and contracts payable	372,668
DueInYearFourMember
Bank loans payable, lines of credit and notes and contracts payable	286,967
DueInYearFiveMember
Bank loans payable, lines of credit and notes and contracts payable	298,283
DueInYearThereafterMember
Bank loans payable, lines of credit and notes and contracts payable	$ 8,861,130

Note 7_ Cemetery and Mortuar130

Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds: Schedule of the components of the cemetery perpetual care obligation (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Details
Cemetery perpetual care obligation, trust investments at market value	$ 2,848,759	$ 2,645,423
Cemetery perpetual care obligation, note receivables eliminated in consolidation	1,780,618	1,847,892
Cemetery perpetual care obligation, trust assets	4,629,377	4,493,315
Represents the monetary amount of CemeteryPerpetualCareObligation, as of the indicated date.	(3,465,771)	(3,406,718)
Cemetery perpetual care obligation, fair value of trust assets in excess of trust obligations	$ 1,163,606	$ 1,086,597

Note 7_ Cemetery and Mortuar131

Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds: Schedule of Restricted Assets in Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Restricted assets	$ 9,359,802	$ 9,347,797
Cash and cash equivalents
Restricted assets	7,206,863	7,274,685
Mutual funds
Restricted assets	596,994	627,154
Fixed maturity securities
Restricted assets	8,775	8,775
Equity Securities
Restricted assets	89,450	88,048
Participating in mortgage loans with Security National Life
Restricted assets	$ 1,457,720	$ 1,349,135

Note 8_ Income Taxes_ Summar132

Note 8: Income Taxes: Summary of Income Tax Liability (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Details
Current Income Tax Liability	$ (215,366)	$ (333,350)
Income Tax Liability	25,267,425	20,755,117
Income taxes	$ 25,052,059	$ 20,421,767

Note 8_ Income Taxes_ Schedu133

Note 8: Income Taxes: Schedule of components of Deferred Tax Liabilities (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Liabilities
Income Tax Liability	$ 25,267,425	$ 20,755,117
Approximate
Assets
Deferred Tax, Future policy benefits	(8,023,302)	(6,856,001)
Deferred Tax, Loan Loss Reserve	(1,163,700)	(670,078)
Deferred Tax, Unearned premium	(1,610,684)	(1,687,059)
Deferred Tax, Available for sale Securities	(150,984)	(125,797)
Deferred Tax Net Operating Loss	(588,537)	(1,738,137)
Deferred Tax Deferred Compensation	(1,994,927)	(1,279,860)
Deferred Tax Deposit Obligations	(1,026,984)	(1,018,313)
Deferred Tax, Other assets	(2,242,029)	(1,398,152)
Deferred Tax, Valuation Allowance	5,276,431	5,276,431
Deferred Tax Assets, Net of Valuation Allowance	(11,524,716)	(9,496,966)
Liabilities
Deferred Tax, Deferred policy acquisition costs	14,838,604	12,271,954
Deferred Tax, Basis difference in property and equipment	9,375,146	7,049,551
Deferred Tax, Value of business acquired	2,972,883	2,906,193
Deferred Tax, Installment sales	6,902,888	5,472,003
Deferred Tax, Trusts	1,599,657	1,599,657
Tax on unrealized appreciation	1,102,963	952,725
Deferred Tax Liabilities, Net	36,792,141	30,252,083
Income Tax Liability	$ 25,267,425	$ 20,755,117

Note 8_ Income Taxes_ Deferred

Note 8: Income Taxes: Deferred taxes, taxes paid and changes in valuation allowance (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Deferred Taxes Decrease In The Valuation Allowance		$ 316,632
Income Taxes Paid	$ 2,716,161	$ 408,939	$ 4,009,598

Note 8_ Income Taxes_ Schedu135

Note 8: Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Federal Income Tax Expense (Benefit), Continuing Operations	$ 2,423,846	$ 1,532,539	$ 1,564,311
State and Local Income Tax Expense (Benefit), Continuing Operations	412,175	121,124	257,228
Current Income Tax Expense (Benefit)	2,836,021	1,653,663	1,821,539
Deferred Federal Income Tax Expense (Benefit)	4,001,873	2,677,319	399,919
Deferred State and Local Income Tax Expense (Benefit)	360,791	395,323	16,348
Provision for deferred and other income taxes	4,362,664	3,072,642	416,269
Income tax expense	$ 7,198,685	$ 4,726,305	$ 2,237,806

Note 8_ Income Taxes_ Schedu136

Note 8: Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ 6,739,332	$ 4,243,524	$ 3,340,067
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	510,158	340,855	180,560
Effective Income Tax Rate Reconciliation, Tax Settlement, Amount			20,371
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	(50,805)	141,926	(1,303,192)
Income tax expense	$ 7,198,685	$ 4,726,305	$ 2,237,806

Note 8_ Income Taxes_ Unrecogni

Note 8: Income Taxes: Unrecognized tax benefits, interest and penalties (Details)	Dec. 31, 2015USD ($)
Details
Unrecognized Tax Benefits	$ 0

Note 9_ Reinsurance, Commitm138

Note 9: Reinsurance, Commitments and Contingencies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Amounts accrued for loan losses	$ 2,806,000	$ 1,718,000
Rent expense related to non-cancelable operating leases	7,199,000	5,589,000	$ 4,307,000
Unaudited
Insurance assumed from other companies	$ 2,110,480,000	$ 1,462,340,000

Note 9_ Reinsurance, Commitm139

Note 9: Reinsurance, Commitments and Contingencies: Schedule of Future Minimum Rental Payments for Operating Leases (Details)	Dec. 31, 2015USD ($)
Details
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 5,447,528
Operating Leases, Future Minimum Payments, Due in Two Years	4,520,592
Operating Leases, Future Minimum Payments, Due in Three Years	2,493,007
Operating Leases, Future Minimum Payments, Due in Four Years	1,036,826
Operating Leases, Future Minimum Payments, Due in Five Years	218,923
Operating Leases, Future Minimum Payments Due	$ 13,716,876

Note 9_ Reinsurance, Commitm140

Note 9: Reinsurance, Commitments and Contingencies: Other Contingencies and Commitments (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Details
Reserve related to Insurance programs	$ 834,855	$ 929,417

Note 10_ Retirement Plans_ Nonc

Note 10: Retirement Plans: Noncontributory Employee Stock Ownership Plan (ESOP) (Details) - Employee Stock Ownership Plan (ESOP)	12 Months Ended
	Dec. 31, 2015shares
Employee Stock Ownership Plan (ESOP), Plan Description	The Company and its subsidiaries have a noncontributory Employee Stock Ownership Plan (ESOP) for all eligible employees. Eligible employees are primarily those with more than one year of service, who work in excess of 1,000 hours per year. Contributions, which may be in cash or stock of the Company, are determined annually by the Board of Directors. The Company’s contributions are allocated to eligible employees based on the ratio of each eligible employee’s compensation to total compensation for all eligible employees during each year.
Class A Common Stock
Employee Stock Ownership Plan (ESOP), Shares in ESOP	554,845
Class C Common Stock
Employee Stock Ownership Plan (ESOP), Shares in ESOP	252,974

Note 10_ Retirement Plans_ 401(

Note 10: Retirement Plans: 401(k) Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Description of Defined Contribution Pension and Other Postretirement Plans	The Company has three 401(k) savings plans covering all eligible employees, as defined above, which includes employer participation in accordance with the provisions of Section 401(k) of the Internal Revenue Code. The plans allow participants to make pretax contributions up to a maximum of $18,000, $17,500 and $17,000 for the years 2015, 2014 and 2013, respectively or the statutory limits.
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount	$ 18,000	$ 17,500	$ 17,000
SafeHarborPlanMember
Contribution to Retirement Plan	$ 1,197,236	$ 808,572	$ 749,898

Note 10_ Retirement Plans_ Defe

Note 10: Retirement Plans: Deferred Compensation Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CEO, and past senior VP
Deferred Compensation Arrangement with Individual, Recorded Liability	$ 598,426
Scott M. Quist
Deferred Compensation Arrangement with Individual, Recorded Liability	3,264,925	$ 2,270,425
Present value of anticipated benefits	999,961	833,183	$ 264,000
Deferred Tax Credits related to compensation expense
Deferred Compensation Arrangement with Individual, Recorded Liability	1,093,720	768,220
Present value of anticipated benefits	$ 320,039	$ 154,817
Deferred Compensation Plan
Deferred Compensation Arrangements, Overall, Description	Under the terms of the Plan, the Company will provide deferred compensation for a select group of management or highly compensated employees, within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended. The Board has appointed a Committee of the Company to be the Plan Administrator and to determine the employees who are eligible to participate in the plan. The employees who participate may elect to defer a portion of their compensation into the plan.

Note 11_ Capital Stock_ Sche144

Note 11: Capital Stock: Schedule of Activity in shares of capital stock (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Class A Common Stock
Common Stock Outstanding	13,109,100	12,459,240	11,807,287	10,843,576
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	23,961	54,412	359,786
Dividends	$ 624,483	$ 595,020	$ 562,152
Conversion of Stock, Shares Issued	1,416	2,521	41,773
Class C Common Stock
Common Stock Outstanding	1,709,640	1,394,069	1,330,191	1,097,410
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	241,652		211,211
Dividends	$ 75,335	$ 66,384	$ 63,342
Conversion of Stock, Shares Issued	(1,416)	(2,521)	(41,773)

Note 11_ Capital Stock_ Sche145

Note 11: Capital Stock: Schedule of Basic and diluted earnings per share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Net Earnings (Loss)	$ 12,622,880	$ 7,754,648	$ 7,585,921
Weighted Average Number of Shares Outstanding, Basic and Diluted	13,722,201	13,176,187	13,023,473
Employee stock options	$ 488,151	$ 429,729	$ 646,324
Pro Forma Weighted Average Shares Outstanding, Diluted	488,151	429,729	646,324
Adjustedweighted average shares and assumed conversions	14,210,352	13,605,916	13,669,797
Net earnings per Class A equivalent common share (1)	$ 0.92	$ 0.59	$ 0.58
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.89	$ 0.57	$ 0.55

Note 12_ Stock Compensation 146

Note 12: Stock Compensation Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 387,608	$ 391,220	$ 88,369
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 1,190,879	$ 173,650

Note 12_ Stock Compensation 147

Note 12: Stock Compensation Plans: Schedule of Activity of the 2003 Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	3.89
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	618,261	512,795	405,133	972,253
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price		$ 3.20	$ 2.41	$ 2.07
Adjustment for the effect of stock dividends	29,335	24,446	17,962
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	133,500	173,500	81,960
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised	(26,850)	(59,713)	(485,366)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	(30,519)	(30,571)	(76,676)
Shares Reclassifies			(105,000)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number		478,086
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 3.16
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	454,842
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	7 years 8 months 1 day
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	7 years 4 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 1,473,046
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 1,473,046
Class C Common Stock
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	577,436	691,591	508,657	583,851
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price		$ 2.54	$ 2	$ 3.54
Adjustment for the effect of stock dividends	27,497	32,934	24,222
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	100,000	150,000	50,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised	(241,652)		(190,602)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period			(63,814)
Shares Reclassifies			105,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number		472,436
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 2.77
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	57,750
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	2 years 9 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	2 years 2 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 1,639,692
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 1,639,692

Note 13_ Statutory Financial148

Note 13: Statutory Financial Information and Dividend Limitations: Schedule of statutory accounting practices (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statutory Accounting Practices, Statutory Net Income Amount	$ 3,478,826	$ 5,139,394	$ 1,286,742
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	35,942,860	37,528,350
SecurityNationalLifeInsuranceMember
Statutory Accounting Practices, Statutory Net Income Amount	3,478,338	5,137,208	1,283,311
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	32,771,066	34,356,157
MemorialInsuranceCompanyOfAmericaMember
Statutory Accounting Practices, Statutory Net Income Amount	49	415	237
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,082,059	1,082,587
SouthernSecurityLifeInsuranceCompanyIncMember
Statutory Accounting Practices, Statutory Net Income Amount	491	467	1,288
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,590,605	1,590,424
TransWesternLifeInsuranceCompanyMember
Statutory Accounting Practices, Statutory Net Income Amount	(52)	1,304	$ 1,906
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 499,130	$ 499,182

Note 14_ Business Segment In149

Note 14: Business Segment Information: Schedule of Segment Reporting Information, by Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue from customers	$ 242,235,360	$ 193,131,985	$ 191,272,963
Net investment income	34,007,904	28,303,740	20,354,002
Gain (Loss) on Investments	2,401,359	1,918,176	1,418,051
Other than Temporary Impairment Losses, Investments	(605,430)	(164,240)	(336,226)
Other Revenue, Net	5,121,807	3,747,013	2,606,230
Net Investment Income	34,007,904	28,303,740	20,354,002
Total revenues	283,161,000	226,936,674	215,315,020
Death and other policy benefits	33,549,893	29,789,964	28,534,936
Increase (Decrease) in Future Policy Benefit Reserves	17,212,001	18,060,151	19,594,890
Amortization of deferred policy and preneed acquisition costs and Value of Business Acquired	5,641,293	6,892,978	5,181,837
Depreciation	2,183,496	2,177,165	1,621,069
Provision for Loan and Lease Losses	6,295,043	3,053,403	1,751,472
Costs related to funding mortgage loans	8,864,404	6,877,069	6,635,290
Other General Expense	185,134,693	144,610,562	139,318,098
Interest Expense, Other	4,458,612	2,994,429	2,853,701
Benefits and Expenses	263,339,435	214,455,721	205,491,293
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	19,821,565	12,480,953	9,823,727
Income tax expense	(7,198,685)	(4,726,305)	(2,237,806)
Net Earnings (Loss)	12,622,880	7,754,648	7,585,921
Identifiable Assets	749,933,317	671,069,562	618,757,454
Goodwill	2,765,570	2,765,570	677,039
Expenditures for long-lived assets	3,632,690	2,280,563	3,570,333
Life Insurance Segment
Revenue from customers	58,883,721	57,037,623	51,322,567
Net investment income	25,297,486	23,008,489	15,877,784
Gain (Loss) on Investments	2,332,456	1,208,391	1,402,352
Other than Temporary Impairment Losses, Investments	(413,714)	(164,240)	(336,226)
Other Revenue, Net	824,759	682,682	538,009
Net Investment Income	7,615,338	6,128,389	7,220,282
Total revenues	94,540,046	87,901,334	76,024,768
Death and other policy benefits	33,549,893	29,789,964	28,534,936
Increase (Decrease) in Future Policy Benefit Reserves	17,212,001	18,060,151	19,594,890
Amortization of deferred policy and preneed acquisition costs and Value of Business Acquired	5,306,781	6,561,589	4,811,300
Depreciation	710,733	644,510	401,893
Administrative costs, intersegment		24,000	24,000
Other General Expense	27,416,860	23,045,928	18,753,753
Interest Expense, intersegment	726,919	725,354	802,352
Interest Expense, Other	1,151,860	578,083	233,343
Benefits and Expenses	86,075,047	79,429,579	73,156,467
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	8,464,999	8,471,755	2,868,301
Income tax expense	(3,138,929)	(3,427,254)	399,304
Net Earnings (Loss)	5,326,070	5,044,501	3,267,605
Identifiable Assets	721,362,741	652,348,803	591,465,834
Goodwill	2,765,570	2,765,570	391,848
Expenditures for long-lived assets	3,024,223	1,420,950	659,259
Cemetery and Mortuary
Revenue from customers	11,502,045	11,426,308	12,000,375
Net investment income	450,854	275,324	268,923
Gain (Loss) on Investments	387,316	585,543	15,699
Other Revenue, Net	146,831	169,464	94,703
Net Investment Income	1,155,180	1,288,856	1,356,825
Total revenues	13,642,226	13,745,495	13,736,525
Amortization of deferred policy and preneed acquisition costs and Value of Business Acquired	334,512	331,389	370,537
Depreciation	403,066	436,390	426,641
Administrative costs, intersegment	156,777	166,079	141,367
Other General Expense	10,117,012	10,245,144	10,467,717
Interest Expense, intersegment	1,379,668	1,481,317	1,664,096
Interest Expense, Other	337,632	421,920	443,133
Benefits and Expenses	12,728,667	13,082,239	13,513,491
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	913,559	663,256	223,034
Net Earnings (Loss)	913,559	663,256	223,034
Identifiable Assets	101,935,898	109,114,226	114,454,631
Goodwill			285,191
Expenditures for long-lived assets	154,226	121,677	1,100,195
Mortgage
Revenue from customers	171,849,594	124,668,054	127,950,021
Net investment income	8,259,564	5,019,927	4,207,295
Gain (Loss) on Investments	(318,413)	124,242
Other than Temporary Impairment Losses, Investments	(191,716)
Other Revenue, Net	4,150,217	2,894,867	1,973,518
Net Investment Income	326,822	642,880	262,074
Total revenues	184,076,068	133,349,970	134,392,908
Depreciation	1,069,697	1,096,265	792,535
Administrative costs, intersegment	199,244	208,513	199,193
Provision for Loan and Lease Losses	6,295,043	3,053,403	1,751,472
Costs related to funding mortgage loans	8,864,404	6,877,069	6,635,290
Other General Expense	147,600,822	111,319,492	110,096,627
Interest Expense, intersegment	6,634,731	5,454,860	6,008,174
Interest Expense, Other	2,969,120	1,994,426	2,177,225
Benefits and Expenses	173,633,061	130,004,028	127,660,516
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	10,443,007	3,345,942	6,732,392
Income tax expense	(4,059,756)	(1,299,051)	(2,637,110)
Net Earnings (Loss)	6,383,251	2,046,891	4,095,282
Identifiable Assets	66,743,342	52,349,204	50,250,677
Expenditures for long-lived assets	454,241	737,936	1,810,879
Significant Reconciling Items
Net Investment Income	(9,097,340)	(8,060,125)	(8,839,181)
Total revenues	(9,097,340)	(8,060,125)	(8,839,181)
Administrative costs, intersegment	(356,021)	(398,592)	(364,560)
Other General Expense	(1)	(2)	1
Interest Expense, intersegment	(8,741,318)	(7,661,531)	(8,474,622)
Benefits and Expenses	(9,097,340)	(8,060,125)	(8,839,181)
Identifiable Assets	$ (140,108,664)	$ (142,742,671)	$ (137,413,688)

Note 16_ Fair Value of Finan150

Note 16: Fair Value of Financial Instruments: Schedule of fair value assets and liabilities measured on a recurring basis (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Trading Securities, Equity	$ 8,431,090	$ 6,752,750
Available-for-sale Securities	8,431,090	6,752,750
Restricted assets of cemeteries and mortuaries	686,444	715,202
Cemetery perpetual care trust investments	630,854	695,235
Derivatives - interest rate lock commitments	3,440,758	2,111,529
Assets, Fair Value Disclosure	13,189,146	10,274,716
Policyholder account balances	(50,694,953)
Future policy benefits - annuities	(69,398,617)	(65,540,985)
Derivatives - bank loan interest rate swaps	(13,947)	(31,370)
Derivatives - bank loan interest rate swaps, Call Options	(16,342)	(116,036)
Derivatives - bank loan interest rate swaps, Put Options	(28,829)
Derivatives - bank loan interest rate swaps, Interest rate lock commitments	(107,667)	(11,867)
Liabilities accounted for at fair value	(120,260,355)	(111,192,635)
Assets accounted for at fair value on a recurring basis
Policyholder account balances		(45,310,699)
Fair Value, Inputs, Level 1
Trading Securities, Equity	8,431,090	6,752,750
Available-for-sale Securities	8,431,090	6,752,750
Restricted assets of cemeteries and mortuaries	686,444	715,202
Cemetery perpetual care trust investments	630,854	695,235
Assets, Fair Value Disclosure	9,748,388	8,163,187
Derivatives - bank loan interest rate swaps, Call Options	(16,342)	(116,036)
Derivatives - bank loan interest rate swaps, Put Options	(28,829)
Derivatives - bank loan interest rate swaps, Interest rate lock commitments		(11,867)
Liabilities accounted for at fair value	(45,171)	(127,903)
Fair Value, Inputs, Level 3
Derivatives - interest rate lock commitments	3,440,758	2,111,529
Assets, Fair Value Disclosure	3,440,758	2,111,529
Policyholder account balances	(50,694,953)
Future policy benefits - annuities	(69,398,617)	(65,540,985)
Derivatives - bank loan interest rate swaps	(13,947)	(31,370)
Derivatives - bank loan interest rate swaps, Interest rate lock commitments	(107,667)
Liabilities accounted for at fair value	$ (120,215,184)	(111,064,732)
Assets accounted for at fair value on a recurring basis
Policyholder account balances		$ (45,310,699)

Note 16_ Fair Value of Finan151

Note 16: Fair Value of Financial Instruments: Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Policyholder Account Balances
Fair Value Balance	$ (45,310,699)	$ (48,000,668)
Fair Value, Losses (Gains) included in earnings	(5,384,254)	2,689,969
Fair Value Balance	(50,694,953)	(45,310,699)
Future Policy Benefits - Annuities
Fair Value Balance	(65,540,985)	(65,052,928)
Fair Value, Losses (Gains) included in earnings	(3,857,632)	(488,057)
Fair Value Balance	(69,398,617)	(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	1,403,240	441,943
Fair Value Balance	3,333,091	1,929,851
Bank Loan Interest Rate Swaps
Fair Value Balance	(31,370)	(58,310)
Fair Value, Losses (Gains) included in other comprehensive income	17,423	26,940
Fair Value Balance	$ (13,947)	$ (31,370)

Note 16_ Fair Value of Finan152

Note 16: Fair Value of Financial Instruments: Fair Value Assets Measured on a Nonrecurring Basis (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Mortgage servicing rights	$ 6,217,551	$ 3,741,381
Real estate held for investment	95,000	53,500
Assets, Fair Value Disclosure, Nonrecurring	6,312,551	3,794,881
Fair Value, Inputs, Level 3
Mortgage servicing rights	6,217,551	3,741,381
Real estate held for investment	95,000	53,500
Assets, Fair Value Disclosure, Nonrecurring	$ 6,312,551	$ 3,794,881

Note 16_ Fair Value of Finan153

Note 16: Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Carrying Value	$ (40,894,968)	$ (28,989,008)
Estimated Carrying Value	(40,894,968)	(28,989,008)
Residential Mortgage
Carrying Value	44,459,613	51,876,621
Estimated Carrying Value	47,193,950	55,247,638
Residential Construction
Carrying Value	34,751,443	32,971,824
Estimated Carrying Value	34,751,443	32,971,824
Commercial Loan
Carrying Value	33,335,849	35,201,627
Estimated Carrying Value	34,778,136	36,829,266
Mortgage loans, net
Carrying Value	112,546,905	120,050,072
Estimated Carrying Value	116,723,529	125,048,728
Policy Loan
Carrying Value	6,896,457	7,011,012
Estimated Carrying Value	6,896,457	7,011,012
Other loans
Carrying Value	32,685,964	27,114,416
Estimated Carrying Value	32,685,964	27,114,416
Short term investments
Carrying Value	16,915,808	27,059,495
Estimated Carrying Value	16,915,808	27,059,495
Fair Value, Inputs, Level 3
Estimated Carrying Value	(40,894,968)	(28,989,008)
Fair Value, Inputs, Level 3 | Residential Mortgage
Estimated Carrying Value	47,193,950	55,247,638
Fair Value, Inputs, Level 3 | Residential Construction
Estimated Carrying Value	34,751,443	32,971,824
Fair Value, Inputs, Level 3 | Commercial Loan
Estimated Carrying Value	34,778,136	36,829,266
Fair Value, Inputs, Level 3 | Mortgage loans, net
Estimated Carrying Value	116,723,529	125,048,728
Fair Value, Inputs, Level 3 | Policy Loan
Estimated Carrying Value	6,896,457	7,011,012
Fair Value, Inputs, Level 3 | Other loans
Estimated Carrying Value	32,685,964	27,114,416
Fair Value, Inputs, Level 3 | Short term investments
Estimated Carrying Value	$ 16,915,808	$ 27,059,495

Note 17_ Accumulated Other C154

Note 17: Accumulated Other Comprehensive Income: Schedule of Changes in accumulated other comprehensive income (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Details
Accumulated other comprehensive income, Unrealized gains (losses) on Available for Sale Securities	$ (1,289,508)	$ (390,143)
Reclassification adjustment for net realized gains in net income	113,751	293,985
Net unrealized gains (losses) before taxes	(1,175,757)	(96,158)
Tax (expense) benefit	404,414	30,310
Net Unrealized Gain (Loss)	(771,343)	(65,848)
Net Potential unrealized gains (losses) for derivative mortgage loans before taxes	17,423	26,940
Potential Tax Expense Benefit	(6,794)	(10,507)
Net Unrealized Gain (Loss) including Derivatie Bank Loans and Tax benefit	10,629	16,433
Potential unrealized gains (losses) for derivative mortgage loans before taxes	1,403,240	441,943
Tax (expense) benefit on Derivative Mortgage Loans	(547,264)	(172,358)
Net Unrealized Gain (Loss) including Derivatie Bank Loans, Mortgage Loans and Tax Benefits	855,976	269,585
Other comprehensive income changes	$ 95,262	$ 220,170

Note 17_ Accumulated Other C155

Note 17: Accumulated Other Comprehensive Income: Accumulated Balances of Other Comprehensive Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Unrealized net gains on available- for-sale securities and trust investments	$ 280,493	$ 346,341	$ 41,550
Increase (Decrease) in Unrealized net gains on available- for-sale securities and trust investments	(771,343)	(65,848)	304,791
Unrealized net gains on available- for-sale securities and trust investments	(490,850)	280,493	346,341
Unrealized gains (losses) on derivative mortgage loans	1,177,209	907,624	1,954,567
Increase (Decrease) in Unrealized gains (losses) on derivative mortgage loans	855,976	269,585	(1,046,943)
Unrealized gains (losses) on derivative mortgage loans	2,033,185	1,177,209	907,624
Unrealized gains (losses) on derivative bank loan interest rate swaps	(19,136)	(35,569)	(61,758)
Increase (Decrease) in Unrealized gains (losses) on derivative bank loan interest rate swaps	10,629	16,433	26,189
Unrealized gains (losses) on derivative bank loan interest rate swaps	(8,507)	(19,136)	(35,569)
Other comprehensive income, Balance	1,438,566	1,218,396	1,934,359
Increase (Decrease) in Other comprehensive income, Balance	95,262	220,170	(715,963)
Other comprehensive income, Balance	$ 1,533,828	$ 1,438,566	$ 1,218,396

Note 18_ Derivative Commitme156

Note 18: Derivative Commitments: Schedule of Derivative Assets at Fair Value (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Details
Fair Value of Asset Derivatives, Interest rate lock and forward sales commitments	$ 3,440,758	$ 2,111,529
Fair Value of Liability Derivatives, Interest rate lock and forward sales commitments	107,667	181,678
Fair Value of Liability Derivatives, Call Options	16,342	116,036
Fair Value of Liability Derivatives, Put Options	28,829	11,867
Fair Value of Liability Derivatives, Interest Rate Swaps	13,947	31,370
Fair Value of Asset Derivatives, Total	3,440,758	2,111,529
Fair Value of Liability Derivatives, Total	$ 166,785	$ 340,951

Note 18_ Derivative Commitme157

Note 18: Derivative Commitments: Schedule of Gains and Losses on Derivatives (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
Gain (Loss) on Derivatives, Interest Rate Lock Commitments	$ 1,403,240	$ 441,943
Gain (Loss) on Derivatives, Interest Rate Swaps	17,423	26,940
Sub total Gain on Derivatives	1,420,663	468,883
Tax Effect Gain on Derivatives	554,058	182,865
Gain (Loss) on Derivatives, Total	$ 866,605	$ 286,018

Note 19_ Acquisitions_ The E158

Note 19: Acquisitions: The Estimated Fair Values of The Assets Acquired and The Liabilities Assumed At The Date of Acquisition (Details)	12 Months Ended
	Dec. 31, 2014USD ($)
Fair Value of Assets Acquired	$ 15,011,193
Other loans
Fair Value of Assets Acquired	11,866,193
Property and equipment
Fair Value of Assets Acquired	760,120
Goodwill
Fair Value of Assets Acquired	2,373,722
Other
Fair Value of Assets Acquired	1,379,158
Total assets
Fair Value of Assets Acquired	16,379,193
Other liabilities and accrued expenses
Fair Value of Assets Acquired	(1,368,000)
Total Liabilities
Fair Value of Assets Acquired	$ (1,368,000)

Note 19_ Acquisitions_ Acqui159

Note 19: Acquisitions: Acquisition of Trans-Western Pro Forma (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Total revenues	$ 283,161,000	$ 226,936,674	$ 215,315,020
Net earnings	$ 12,622,880	$ 7,754,648	$ 7,585,921
Net earnings per Class A equivalent common share (1)	$ 0.92	$ 0.59	$ 0.58
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.89	$ 0.57	$ 0.55
ProForma1Member
Total revenues	$ 283,161,000	$ 229,268,653	$ 220,011,370
Net earnings	$ 12,622,880	$ 7,996,405	$ 7,963,589
Net earnings per Class A equivalent common share (1)	$ 0.92	$ 0.61	$ 0.61
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.89	$ 0.59	$ 0.58

Note 20_ Mortgage Servicing 160

Note 20: Mortgage Servicing Rights: Schedule of mortgage servicing rights (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
Mortgage servicing rights	$ 6,217,551	$ 3,741,381
Amortization of MSR's	(1,372,543)	(750,735)
Mortgage servicing rights	12,679,755	7,834,747
Estimated fair value of MSRs	$ 13,897,160	$ 8,485,570

Note 20_ Mortgage Servicing 161

Note 20: Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights Amortization (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2021
Details
Amortization of Mortgage Servicing Rights (MSRs)	$ 1,408,862	$ 1,408,862	$ 1,408,862	$ 1,408,862	$ 1,408,862
Amortization of Mortgage Servicing Rights Thereafter						$ 5,635,445

Note 21_ Quarterly Financial162

Note 21: Quarterly Financial Data (unaudited): Schedule of Quarterly Financial Information (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Total revenues													$ 283,161,000	$ 226,936,674	$ 215,315,020
Benefits and Expenses													263,339,435	214,455,721	205,491,293
Income tax expense													$ (7,198,685)	$ (4,726,305)	$ (2,237,806)
Net earnings per Class A equivalent common share (1)													$ 0.92	$ 0.59	$ 0.58
Net earnings per Class A equivalent common share - assuming dilution(1)													$ 0.89	$ 0.57	$ 0.55
Unaudited
Total revenues	$ 67,576,067	$ 75,494,686	$ 76,040,615	$ 64,049,632	$ 60,745,876	$ 61,725,792	$ 59,411,730	$ 45,053,276	$ 48,577,706	$ 50,552,791	$ 61,332,289	$ 54,852,234
Benefits and Expenses	64,779,238	67,700,286	69,808,663	61,051,248	55,995,147	58,348,652	55,224,633	44,887,289	48,415,406	48,588,507	56,862,769	51,624,611
Earnings (loss) before income taxes	2,796,829	7,794,400	6,231,952	2,998,384	4,750,729	3,377,140	4,187,097	165,987
Income tax expense	(779,716)	(2,904,615)	(2,379,673)	(1,134,681)	(1,896,814)	(1,239,318)	(1,563,034)	(27,139)	1,324,619	(697,793)	(1,670,275)	(1,194,357)
Net Earnings	$ 2,017,113	$ 4,889,785	$ 3,852,279	$ 1,863,703	$ 2,853,915	$ 2,137,822	$ 2,624,063	$ 138,848	$ 1,486,919	$ 1,266,491	$ 2,799,245	$ 2,033,266
Net earnings per Class A equivalent common share (1)	$ 0.15	$ 0.35	$ 0.28	$ 0.14	$ 0.22	$ 0.16	$ 0.20	$ 0.01	$ 0.11	$ 0.10	$ 0.22	$ 0.16
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.14	$ 0.34	$ 0.27	$ 0.13	$ 0.21	$ 0.16	$ 0.19	$ 0.01	$ 0.11	$ 0.09	$ 0.20	$ 0.14
Earnings before income taxes									$ 162,300	$ 1,964,284	$ 4,469,520	$ 3,227,623