Security National Financial (SNFCA) 10-K/A 25 Aug 17 2016 FY Annual report (amended) Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 27, 2017	Jun. 30, 2016
Entity Registrant Name	SECURITY NATIONAL FINANCIAL CORP
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Trading Symbol	snfca
Amendment Flag	true
Amendment Description	1
Entity Central Index Key	318,673
Current Fiscal Year End Date	--12-31
Entity Public Float			$ 22,000,000
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	2,016
Document Fiscal Period Focus	FY
Class A Common Stock
Entity Common Stock, Shares Outstanding		13,820,079
Class C Common Stock
Entity Common Stock, Shares Outstanding		1,901,624

Balance Sheet

Balance Sheet - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Investments:
Fixed maturity securities, held to maturity, at amortized cost	$ 184,979,644	$ 145,558,425
Equity securities, available for sale, at estimated fair value	10,573,356	8,431,090
Mortgage loans on real estate and construction loans held for investment, net of allowances for loan losses of $1,748,783 and $1,848,120 for 2016 and 2015	149,181,578	112,546,905
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	145,165,921	114,852,432
Policy loans and other investments, net of allowances for doubtful accounts of $1,119,630 and $906,616 for 2016 and 2015	40,937,146	39,582,421
Short-term investments	27,560,040	16,915,808
Accrued investment income	2,972,596	2,553,819
Total investments	561,370,281	440,440,900
Cash and cash equivalents	38,987,430	40,053,242
Loans held for sale	189,139,832	211,453,006
Receivables, net	6,373,364	6,060,994
Restricted assets	10,391,394	9,359,802
Cemetery perpetual care trust investments	4,131,885	2,848,759
Receivable from reinsurers	13,079,668	13,400,527
Cemetery land and improvements	10,672,836	10,780,996
Deferred policy and pre-need contract acquisition costs	69,118,745	59,004,909
Mortgage servicing rights, net	18,872,362	12,679,755
Property and equipment, net	8,791,522	11,441,660
Value of business acquired	7,570,300	8,743,773
Goodwill	2,765,570	2,765,570
Other assets	10,413,394	11,439,273
Total Assets	951,678,583	840,473,166
Liabilities
Future life, annuity, and other benefits	584,067,692	515,789,254
Unearned premium reserve	4,469,771	4,737,305
Bank and other loans payable	152,140,679	131,005,614
Deferred pre-need cemetery and mortuary contract revenues	12,360,249	12,816,227
Cemetery perpetual care obligation	3,598,580	3,465,771
Accounts payable	4,213,109	3,502,046
Other liabilities and accrued expenses	33,950,503	31,027,381
Income taxes	24,318,869	20,412,889
Total liabilities	819,119,452	722,756,487
Common Stock:
Additional paid-in capital	34,813,246	30,232,582
Accumulated other comprehensive income, net of taxes	264,822	(499,358)
Retained earnings	67,409,204	60,525,404
Treasury stock, at cost - 704,122 Class A shares and -0- Class C shares in 2016; 930,546 Class A shares and -0- Class C shares in 2015	(1,370,611)	(2,179,429)
Total stockholders' equity	132,559,131	117,716,679
Total Liabilities and Stockholders' Equity	951,678,583	840,473,166
Class A Common Stock
Common Stock:
Common stock	27,638,012	26,218,200
Class B Common Stock
Common Stock:
Common stock
Class C Common Stock
Common Stock:
Common stock	3,804,458	3,419,280
Preferred Stock
Preferred Stock:
Preferred stock

Balance Sheet Parenthetical

Balance Sheet Parenthetical - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Allowance for losses on mortgage loans on real estate and construction loans, held for investment	$ 1,748,783	$ 1,848,120
Accumulated depreciation on real estate held for investment	16,138,439	12,210,346
Allowance for doubtful accounts on policy and other loans	$ 1,119,630	$ 906,616
Preferred Stock Par Value	$ 1	$ 1
Preferred Stock Authorized	5,000,000	5,000,000
Class A Common Stock
Common Stock Par Value	$ 2	$ 2
Common Stock Authorized	20,000,000	20,000,000
Common Stock Issued	13,819,006	13,109,100
Treasury Stock	704,122	930,546
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	3,000,000	3,000,000
Common Stock Issued	1,902,229	1,709,640

Income Statement

Income Statement - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Insurance premiums and other considerations	$ 64,501,017	$ 56,409,863	$ 53,008,679
Net investment income	37,582,444	34,007,904	28,303,740
Net mortuary and cemetery sales	12,267,640	11,502,045	11,426,308
Realized gains on investments and other assets	(176,387)	2,401,359	1,918,176
Other than temporary impairments	(270,358)	(605,430)	(164,240)
Mortgage fee income	183,542,796	171,517,284	126,807,473
Other income	6,887,749	5,121,807	3,747,013
Total revenues	304,334,901	280,354,832	225,047,149
Benefits and expenses:
Death benefits	31,033,222	31,158,281	27,100,278
Surrenders and other policy benefits	2,354,158	2,391,612	2,689,686
Increase in future policy benefits	21,322,195	17,057,764	17,905,914
Amortization of deferred policy and pre-need acquisition costs and value of business acquired	8,003,175	5,641,293	6,892,978
Selling, general and administrative expenses:
Commissions	88,634,494	80,900,618	59,374,542
Personnel	70,254,479	60,860,275	49,360,406
Advertising	6,425,277	5,730,197	4,584,436
Rent and rent related	8,061,598	7,850,776	6,135,876
Depreciation on property and equipment	2,182,724	2,183,496	2,177,165
Provision for loan loss reserve	1,700,000	3,449,103	1,000,000
Costs related to funding mortgage loans	9,191,488	8,901,511	6,451,319
Other expenses	28,569,949	26,954,378	22,800,066
Interest expense	5,111,868	4,458,612	2,994,429
Cost of goods and services sold - mortuaries and cemeteries	1,787,043	1,803,444	1,853,103
Total benefits and expenses	284,631,670	259,341,360	211,320,198
Earnings before income taxes	19,703,231	21,013,472	13,726,951
Income tax expense	(7,514,604)	(7,662,031)	(5,510,119)
Net earnings	$ 12,188,627	$ 13,351,441	$ 8,216,832
Net earnings per Class A Equivalent common share (1)	$ 0.82	$ 0.92	$ 0.59
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.81	$ 0.89	$ 0.57
Weighted average Class A equivalent common shares outstanding (1)	14,806,290	14,439,274	13,893,260
Weighted average Class A equivalent common shares outstanding-assuming dilution (1)	15,127,204	14,951,833	14,344,475

Comprehensive Income Statement

Comprehensive Income Statement - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Comprehensive Income Statement
Net earnings	$ 12,188,627	$ 13,351,441	$ 8,216,832
Changes in:
Net unrealized gains on derivative instruments	6,490	10,628	16,433
Net unrealized gains (losses) on available for sale securities	757,690	(771,343)	(65,848)
Other comprehensive gain (loss)	764,180	(760,715)	(49,415)
Comprehensive income	$ 12,952,807	$ 12,590,726	$ 8,167,417

Statements of Stockholders' Equ

Statements of Stockholders' Equity - USD ($)	Class A Common Stock	Class C Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Treasury Stock	Total
Balance at Dec. 31, 2013	$ 23,614,574	$ 2,660,382	$ 23,215,875	$ 310,772	$ 40,574,211	$ (2,624,625)	$ 87,751,189
Prior period adjustment					$ 6,405,271		$ 6,405,271
Balance at January 1, 2014 (As Restated)	23,614,574	2,660,382	23,215,875	310,772	46,979,482	(2,624,625)	94,156,460
Other comprehensive income				$ (49,415)			$ (49,415)
Grant of stock options			$ 391,220				391,220
Reverse stock true-up		$ 30			$ (30)
Exercise of 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
Net earnings					8,216,832		8,216,832
Balance at Dec. 31, 2014	24,918,480	2,788,138	25,931,119	261,357	51,876,331	(2,086,454)	103,688,971
Other comprehensive income				(760,715)			(760,715)
Grant of stock options			387,608				387,608
Exercise of 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)
Net earnings					13,351,441		13,351,441
Balance at Dec. 31, 2015	26,218,200	3,419,280	30,232,582	(499,358)	60,525,404	(2,179,429)	117,716,679
Other comprehensive income				764,180			764,180
Grant of stock options			343,577				343,577
Exercise of stock options	85,268	209,950	(179,112)				116,106
Sale of treasury stock			621,144			808,818	1,429,962
Stock Dividends	1,315,838	193,934	3,795,055		(5,304,827)
Conversion Class C to Class A	18,706	(18,706)
Net earnings					12,188,627		12,188,627
Balance at Dec. 31, 2016	$ 27,638,012	$ 3,804,458	$ 34,813,246	$ 264,822	$ 67,409,204	$ (1,370,611)	$ 132,559,131

Statement of Cash Flows

Statement of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net earnings	$ 12,188,627	$ 13,351,441	$ 8,216,832
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Realized losses (gains) on investments and other assets	176,387	(2,401,359)	(1,918,176)
Other than temporary impairments	270,358	605,430	164,240
Depreciation	5,579,259	5,023,985	4,389,472
Provision for loan losses and doubtful accounts	1,188,599	524,237	743,386
Amortization of premiums and discounts	653,761	269,681	238,687
Provision for deferred and other income taxes	6,130,644	4,826,010	3,856,456
Policy and pre-need acquisition costs deferred	(16,943,538)	(13,061,573)	(10,159,895)
Policy and pre-need acquisition costs amortized	6,829,702	4,364,167	5,590,332
Value of business acquired amortized	1,173,473	1,277,126	1,302,646
Servicing asset at amortized cost, additions	(8,603,154)	(6,217,551)	(3,741,381)
Amortization of mortgage servicing rights	2,410,547	1,372,543	750,735
Stock based compensation expense	343,577	387,608	391,220
Benefit plans funded with treasury stock	1,429,962	1,197,236	899,850
Loans originated for sale	(3,098,710,299)	(2,861,404,239)	(2,044,909,613)
Proceeds from loans sold	3,246,127,714	2,933,300,742	2,102,740,825
Net gains on loans sold	(137,682,984)	(131,130,447)	(93,144,155)
Change in assets and liabilities:
Land and improvements held for sale	108,160	67,089	(216,512)
Future life and other benefits	17,989,595	15,078,397	13,930,657
Other operating assets and liabilities	(5,125,376)	4,456,090	(1,589,164)
Net cash provided by (used in) operating activities	35,535,014	(28,113,387)	(12,463,558)
Securities held to maturity:
Purchase - fixed maturity securities	(11,386,383)	(22,604,453)	(3,449,187)
Calls and maturities - fixed maturity securities	15,343,488	11,952,402	11,850,864
Securities available for sale:
Purchase - equity securities	(4,980,320)	(9,336,175)	(5,996,993)
Sales - equity securities	4,523,034	6,559,555	3,851,664
Purchases of short-term investments	(18,228,912)	(47,160,050)	(18,587,022)
Sales of short-term investments	12,943,083	57,188,522	3,663,246
Sales (purchases) of restricted assets	(981,433)	(40,763)	(2,628,764)
Change in assets for perpetual care trusts	(1,215,778)	(267,717)	(230,921)
Amount received for perpetual care trusts	132,809	59,053	140,587
Mortgage, policy, and other investments made	(469,593,661)	(372,334,883)	(286,974,069)
Payments received for mortgage, policy, and other investments	446,242,429	371,254,833	267,763,998
Purchases of property and equipment	(3,566,511)	(3,632,690)	(1,520,443)
Disposal of property and equipment	47,293	2,899,322	894,805
Purchases of real estate held for investment	(26,634,840)	(16,725,475)	(19,317,567)
Sale of real estate held for investment	6,093,308	13,540,913	7,269,475
Cash received from reinsurance		24,020,215	13,553,864
Cash paid for purchase of subsidiaries, net of cash acquired	(4,328,520)		(15,011,193)
Net cash provided by (used in) investing activities	(55,590,914)	15,372,609	(44,727,656)
Cash flows from financing activities:
Annuity contract receipts	11,349,276	10,172,170	10,051,662
Annuity contract withdrawals	(13,620,998)	(12,273,707)	(14,519,563)
Proceeds from stock options exercised	116,106	33,677	74,024
Purchase of treasury stock		(181,539)
Repayment of bank and other loans payable	(1,680,678)	(1,967,197)	(2,357,468)
Proceeds from bank borrowings	14,500,950	13,873,157	13,115,348
Net change in warehouse line borrowings	8,325,432	12,282,139	43,479,367
Net cash provided by financing activities	18,990,088	21,938,700	49,843,370
Net change in cash and cash equivalents	(1,065,812)	9,197,922	(7,347,844)
Cash and cash equivalents at beginning of year	40,053,242	30,855,320	38,203,164
Cash and cash equivalents at end of year	38,987,430	40,053,242	30,855,320
Cash paid during the year for:
Interest (net of amount capitalized)	5,119,459	4,347,062	2,901,492
Income taxes	2,667,918	2,716,161	408,939
Non Cash Investing and Financing Activities:
Transfer of loans held for sale to mortgage loans held for investment	12,578,743		2,282,899
Accrued real estate construction costs and retainage	7,358,922
Mortgage loans foreclosed into real estate	$ 2,075,714	$ 3,246,712	$ 981,820

Note 1_ Significant Accounting

Note 1: Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
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 mortgages. 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 eight mortuaries and five cemeteries in Utah and one cemetery in California. The mortgage 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 (GAAP). The presentation of certain amounts in prior years has been reclassified to conform to the 2016 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 amounts 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. Material estimates that are particularly susceptible to significant changes in the near term are those used in determining the value of derivative assets and liabilities, those used in determining deferred acquisition costs and the value of business acquired, those used in determining the value of mortgage loans foreclosed to real estate held for investment, those used in determining the liability for future policy benefits and unearned revenue, those used in determining the estimated future costs for pre-need sales, those used in determining the value of mortgage servicing rights, those used in determining allowances for loan losses for mortgage loans on real estate, those used in determining loan loss reserve, and those used in determining deferred tax assets and liabilities. Although some variability is inherent in these estimates, management believes the amounts provided are fairly stated in all material respects. 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. 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 for investment 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 additional collateral or 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. 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 loans and other investments 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. 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. 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. Loans Held for Sale Loans held for sale are carried at the lower of cost or market and include the amounts due from third party investors. Loans held for sale are also shown net of direct selling revenues and costs. Based on the short-term nature of these assets, the Company has no related allowance for loan losses recorded for these assets. Restricted Assets 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 certain real estate construction development projects. Additionally, the Company elected to fund its medical benefit safe-harbor limit based on 35 percent of the qualified direct costs for the preceding year, and has included this amount as a component of restricted cash. Cemetery Perpetual Care Trust Investments Cemetery endowment care trusts have been set up for four of the six cemeteries owned by the Company. 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. 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 real estate owned 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. 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. Contractual servicing fees and late fees are included in other revenues on the Consolidated Statements of Earnings. Interest rate risk, prepayment risk, and default risk are inherent risks in MSR valuation. Interest rate changes largely drive prepayment rates. Refinance activity generally increases as rates decline. A significant decrease in rates beyond expectation could cause a decline in the value of the MSR. On the contrary, if rates increase borrowers are less likely to refinance or prepay their mortgage, which extends the duration of the loan and MSR values are likely to rise. Because of these risks, discount rates and prepayment speeds are used to estimate the fair value. 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. Derivative Instruments Mortgage Banking Derivatives Loan Commitments The Company is exposed to price risk due to the potential impact of changes in interest rates on the values of loan commitments from the time a 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 loan commitments that will be exercised (i.e., the number of loans that will be funded) fluctuates. The probability that a loan will not be funded or the loan application is denied or withdrawn within the terms of the commitment is driven by a number of factors, particularly the change, if any, in mortgage rates following the issuance of the loan commitment. 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 loan commitments and are updated periodically to reflect the most current data. The Company estimates the fair value of a loan commitment based on the change in estimated fair value of the underlying mortgage loan, quoted MBS prices, estimates of the fair value of mortgage servicing rights, and an estimate of the probability that the mortgage loan will fund within the terms of the commitment net of estimated commission expense. The change in fair value of the underlying mortgage loan is measured from the date the loan commitment is issued and is shown net of expenses. Following issuance, the value of a loan commitment can be either positive or negative depending upon the change in value of the underlying mortgage loans. Forward Sale Commitments The Company utilizes forward commitments to economically hedge the price risk associated with its outstanding mortgage loan commitments. A forward commitment protects the Company from losses on sales of the loans arising from exercise of the loan commitments. Management expects these types of commitments will experience changes in fair value opposite to changes in fair value of the loan commitments, thereby reducing earnings volatility related to the recognition in earnings of changes in the values of the commitments. The net changes in fair value of all loan commitments and forward sale commitments are shown in current earnings as a component of mortgage fee income. Call and Put Options The Company uses 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 uses the strategy of selling 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, which were believed to have met investor underwriting guidelines at the time of sale, 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% of insurance in force for the years ended 2016, 2015 and 2014. 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 has determined that all three criteria are met at the time a loan is purchased from a third party investor. Until the loan is purchased, all direct selling revenues and costs are deferred. The Company, through its mortgage subsidiaries, sells 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 that was to be received from a third-party investor is written off against the loan loss reserve. 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 20% of the projected cash flow analysis and 80% 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

Note 2_ Investments

Note 2: Investments	12 Months Ended
	Dec. 31, 2016
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, 2016 are summarized as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2016 Fixed maturity securities held to maturity carried at amortized cost: U.S. Treasury securities and obligations of U.S. Government agencies $ 4,475,065 $ 249,028 $ (66,111) $ 4,657,982 Obligations of states and political subdivisions 6,017,225 153,514 (133,249) 6,037,490 Corporate securities including public utilities 164,375,636 10,440,989 (3,727,013) 171,089,612 Mortgage-backed securities 9,488,083 221,400 (280,871) 9,428,612 Redeemable preferred stock 623,635 13,418 - 637,053 Total fixed maturity securities held to maturity $ 184,979,644 $ 11,078,349 $ (4,207,244) $ 191,850,749 Equity securities available for sale at estimated fair value: Common stock: Industrial, miscellaneous and all other $ 10,985,338 $ 447,110 $ (859,092) $ 10,573,356 Total securities available for sale carried at estimated fair value $ 10,985,338 $ 447,110 $ (859,092) $ 10,573,356 Mortgage loans on real estate and construction loans held for investment at amortized cost: Residential $ 58,593,622 Residential construction 40,800,117 Commercial 51,536,622 Less: Allowance for loan losses (1,748,783) Total mortgage loans on real estate and construction loans held for investment $ 149,181,578 Real estate held for investment - net of depreciation $ 145,165,921 Policy loans and other investments are shown at amortized cost except for other investments that are shown at estimated fair value: Policy loans $ 6,694,148 Insurance assignments 33,548,079 Promissory notes 48,797 Other investments at estimated fair value 1,765,752 Less: Allowance for doubtful accounts (1,119,630) Total policy loans and other investments $ 40,937,146 Short-term investments at amortized cost $ 27,560,040 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 $ 213,684 $ (1,674,094) $ 8,431,090 Total securities available for sale carried at estimated fair value $ 9,891,500 $ 213,684 $ (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 loans and other investments are shown at amortized cost except for other investments that are shown at estimated fair value: Policy loans $ 6,896,457 Insurance assignments 32,369,014 Promissory notes 48,797 Other investments at estimated fair value 1,174,769 Less: Allowance for doubtful accounts (906,616) Total policy loans and other investments $ 39,582,421 Short-term investments at amortized cost $ 16,915,808 Fixed Maturity Securities The following tables summarize unrealized losses on fixed maturities securities, which are carried at amortized cost, at December 31, 2016 and 2015. 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 Fair Value Unrealized Losses for More than Twelve Months Fair Value Total Unrealized Loss Fair Value At December 31, 2016 U.S. Treasury Securities and Obligations of U.S. Government Agencies $ 66,111 $ 1,342,088 $ - $ - $ 66,111 $ 1,342,088 Obligations of States and Political Subdivisions 133,249 3,686,856 - - 133,249 3,686,856 Corporate Securities 1,728,312 41,796,016 1,998,701 12,969,135 3,727,013 54,765,151 Mortgage and other asset-backed securities 176,715 4,176,089 104,156 940,278 280,871 5,116,367 Total unrealized losses $ 2,104,387 $ 51,001,049 $ 2,102,857 $ 13,909,413 $ 4,207,244 $ 64,910,462 Unrealized Losses for Less than Twelve Months Fair Value Unrealized Losses for More than Twelve Months Fair Value Total Unrealized Loss Fair Value At December 31, 2015 U.S. Treasury Securities and Obligations of U.S. Government Agencies $ 4,743 $ 2,191,782 $ - $ - $ 4,743 $ 2,191,782 Obligations of States and Political Subdivisions - - 1,040 86,388 1,040 86,388 Corporate Securities 3,701,572 30,109,114 1,800,171 3,723,569 5,501,743 33,832,683 Mortgage and other asset-backed securities 75,580 1,775,505 - - 75,580 1,775,505 Total unrealized losses $ 3,781,895 $ 34,076,401 $ 1,801,211 $ 3,809,957 $ 5,583,106 $ 37,886,358 There were 250 securities with unrealized losses of 93.9% of amortized cost at December 31, 2016. There were 123 securities with unrealized losses of 87.2% of amortized cost at December 31, 2015. During the years ended December 31, 2016, 2015 and 2014, an other than temporary decline in market value resulted in the recognition of credit losses on fixed maturity securities of $100,000, $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, 2016 and 2015. 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, 2016 Industrial, miscellaneous and all other $ 215,563 124 $ 643,529 104 $ 859,092 Total unrealized losses $ 215,563 124 $ 643,529 104 $ 859,092 Fair Value $ 2,063,144 $ 1,685,874 $ 3,749,018 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 The average market value of the equity securities available for sale was 81.4% and 74.7% of the original investment as of December 31, 2016 and 2015, 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 the years ended December 31, 2016, 2015, and 2014, an other than temporary decline in the market value resulted in the recognition of an impairment loss on equity securities of $170,358, $293,714, and $44,240, 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, 2016, 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 2017 $ 6,148,334 $ 6,232,674 Due in 2018 through 2021 42,886,637 44,879,897 Due in 2022 through 2026 42,090,383 43,288,035 Due after 2026 83,742,572 87,324,617 Mortgage-backed securities 9,488,083 9,488,473 Redeemable preferred stock 623,635 637,053 Total held to maturity $ 184,979,644 $ 191,850,749 The cost and estimated fair value of available for sale securities at December 31, 2016, 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 $ 10,985,338 $ 10,573,356 Total available for sale $ 10,985,338 $ 10,573,356 The Company’s realized gains and losses and other than temporary impairments from investments and other assets for the years ended December 31 are summarized as follows: 2016 2015 2014 Fixed maturity securities held to maturity: Gross realized gains $ 389,558 $ 387,162 $ 390,203 Gross realized losses (132,124) (82,166) (71,800) Other than temporary impairments (100,000) (120,000) (120,000) Securities available for sale: Gross realized gains 221,817 180,602 349,207 Gross realized losses (61,242) (66,850) (55,222) Other than temporary impairments (170,358) (293,714) (44,240) Other assets: Gross realized gains 349,252 2,067,438 1,445,596 Gross realized losses (943,648) (84,827) (139,808) Other than temporary impairments - (191,716) - Total $ (446,745) $ 1,795,929 $ 1,753,936 The net carrying amount for disposals of securities classified as held to maturity was $2,380,027 , $2,569,712 and $2,840,709 , for the years ended December 31, 2016, 2015 and 2014, respectively. The net realized gain related to these disposals was $155,346 , $311,752 and $20,722 , for the years ended December 31, 2016, 2015 and 2014, respectively. Although the intent is to buy and hold a bond to maturity the Company will sell a bond prior to maturity if conditions have changed within the entity that issued the bond to increase the risk of default to an unacceptable level. 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, 2016, other than investments issued or guaranteed by the United States Government. Major categories of net investment income for the years ended December 31, are as follows: 2016 2015 2014 Fixed maturity securities $ 8,972,877 $ 8,168,441 $ 8,229,451 Equity securities 270,942 269,795 212,917 Mortgage loans on real estate 8,963,105 7,696,533 7,550,110 Real estate 10,969,828 9,454,567 8,433,895 Policy loans 781,188 749,917 741,220 Insurance assignments 11,876,836 8,915,655 7,324,964 Other investments 25,122 6,533 - Short-term investments, principally gains on sale of mortgage loans 4,976,180 7,594,014 5,072,418 Gross investment income 46,836,078 42,855,455 37,564,975 Investment expenses (9,253,634) (8,847,551) (9,261,235) Net investment income $ 37,582,444 $ 34,007,904 $ 28,303,740 Net investment income includes net investment income earned by the restricted assets of the cemeteries and mortuaries of $419,360 , $369,632 and $356,369 for the years ended December 31, 2016, 2015 and 2014, respectively. Net investment income on real estate consists primarily of rental revenue received under short-term leases. Investment expenses consist primarily of depreciation, property taxes, operating expenses of real estate and an estimated portion of administrative expenses relating to investment activities. Securities on deposit for regulatory authorities as required by law amounted to $9,269,121 and $8,815,542 at December 31, 2016 and 2015, 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 segments in the form of acquisition, development and mortgage 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 13 commercial properties in 7 states. These properties include industrial warehouses, office buildings, retail centers and includes the redevelopment and expansion of its corporate campus in Salt Lake City Utah. 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 different 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 2016 2015 2016 2015 Arizona $ 450,538 (1) $ 463,774 (1) 16,270 16,270 Arkansas 100,369 - 3,200 - Kansas 12,450,297 11,537,335 222,679 222,679 Louisiana 518,700 - 7,063 - Mississippi 3,818,985 - 33,821 - New Mexico 7,000 (1) 7,000 (1) - - Texas 3,734,974 3,768,542 23,470 23,470 Utah 47,893,073 (2) 17,403,746 433,244 253,244 $ 68,973,936 $ 33,180,397 739,747 515,663 (1) Includes Vacant Land (2) Includes 53rd Center to be completed in July 2017. 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. As an orderly and active market for these homes returns, the Company has the option to dispose or to continue and hold them for cash flow and acceptable returns. 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, 2016, SNRE manages 129 residential properties in 8 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 2016 2015 Arizona $ 742,259 $ 944,614 California 5,848,389 6,158,253 Colorado 364,489 553,230 Florida 8,327,355 9,203,624 Illinois - 165,800 Oklahoma 46,658 99,862 Oregon - 120,000 South Carolina - 823,872 Texas 1,091,188 1,198,860 Utah 59,485,466 62,117,738 Washington 286,181 286,182 $ 76,191,985 $ 81,672,035 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 80,000 square feet, or 10% of the overall commercial real estate holdings. As of December 31, 2016, real estate owned and occupied by the company is summarized as follows: 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, 2016, the Company has 42%, 14%, 9%, 8% and 7% of its mortgage loans from borrowers located in the states of Utah, California, Texas, Florida and Nevada, respectively. The mortgage loans on real estate balances on the consolidated balance sheet are reflected net of an allowance for loan losses of $1,748,783 and $1,848,120 at December 31, 2016 and 2015, 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 2016 Allowance for credit losses: Beginning balance $ 187,129 $ 1,560,877 $ 100,114 $ 1,848,120 Charge-offs - (420,135) - (420,135) Provision - 320,798 - 320,798 Ending balance $ 187,129 $ 1,461,540 $ 100,114 $ 1,748,783 Ending balance: individually evaluated for impairment $ - $ 187,470 $ - $ 187,470 Ending balance: collectively evaluated for impairment $ 187,129 $ 1,274,070 $ 100,114 $ 1,561,313 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - Mortgage loans: Ending balance $ 51,536,622 $ 58,593,622 $ 40,800,117 $ 150,930,361 Ending balance: individually evaluated for impairment $ 202,992 $ 2,916,538 $ 64,895 $ 3,184,425 Ending balance: collectively evaluated for impairment $ 51,333,630 $ 55,677,084 $ 40,735,222 $ 147,745,936 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - 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 $ - $ - $ - $ - 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 Process of Foreclosure 1) Total Past Due Current Total Mortgage Loans Allowance for Loan Losses Net Mortgage Loans 2016 Commercial $ - $ - $ - $ 202,992 $ 202,992 $ 51,333,630 $ 51,536,622 $ (187,129) $ 51,349,493 Residential 964,960 996,779 1,290,355 1,626,183 4,878,277 53,715,345 58,593,622 (1,461,540) 57,132,082 Residential Construction - - 64,895 - 64,895 40,735,222 40,800,117 (100,114) 40,700,003 Total $ 964,960 $ 996,779 $ 1,355,250 $ 1,829,175 $ 5,146,164 $ 145,784,197 $ 150,930,361 $ (1,748,783) $ 149,181,578 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 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 2016 With no related allowance recorded: Commercial $ 202,992 $ 202,992 $ - $ 202,992 $ - Residential - - - - - Residential construction 64,895 64,895 - 64,895 - With an allowance recorded: Commercial $ - $ - $ - $ - $ - Residential 2,916,538 2,916,538 374,501 2,916,538 - Residential construction - - - - - Total: Commercial $ 202,992 $ 202,992 $ - $ 202,992 $ - Residential 2,916,538 2,916,538 374,501 2,916,538 - Residential construction 64,895 64,895 - 64,895 - 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 - 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 2016 2015 2016 2015 2016 2015 2016 2015 Performing $ 51,333,630 $ 33,522,978 $ 55,677,084 $ 40,720,336 $ 40,735,222 $ 34,693,393 $ 147,745,936 $ 108,936,707 Non-performing 202,992 - 2,916,538 5,300,154 64,895 158,164 3,184,425 5,458,318 Total $ 51,536,622 $ 33,522,978 $ 58,593,622 $ 46,020,490 $ 40,800,117 $ 34,851,557 $ 150,930,361 $ 114,395,025 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 $172,000 and $268,000 as of December 31, 2016 and 2015, 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 2016 2015 Commercial $ 202,992 $ - Residential 2,916,538 5,300,154 Residential construction 64,895 158,164 Total $ 3,184,425 $ 5,458,318 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, 2016 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 2017 2018-2021 Thereafter Residential $ 58,593,622 $ 6,115,360 $ 11,916,728 $ 40,561,534 Residential Construction 40,800,117 32,504,143 8,295,974 - Commercial 51,536,622 26,697,442 20,682,311 4,156,869 Total $ 150,930,361 $ 65,316,945 $ 40,895,013 $ 44,718,403 Loan Loss Reserve When a repurchase demand corresponding to a mortgage loan previously sold to a third party investor 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 2016 (As Restated) 2015 (As Restated) Balance, beginning of period $ 2,805,900 $ 1,718,150 Provision for current loan originations (1) 2,988,754 2,845,940 Additional provision for loan loss reserve 1700,000 3,449,103 Charge-offs and settlements (6,866,921) (5,207,293) Balance, at December 31 $ 627,733 $ 2,805,900 (1) Included in Mortgage fee income 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, 2016
Notes
Note 3: Receivables	3) Receivables Receivables consist of the following: December 31 2016 (As Restated) 2015 (As Restated) Trade contracts $ 3,482,175 $ 2,890,489 Receivables from sales agents 4,016,393 3,280,423 Held in Escrow – Southern Security 107,388 245,088 Other 1,122,890 1,345,690 Total receivables 8,728,846 7,761,690 Allowance for doubtful accounts (2,355,482) (1,700,696) Net receivables $ 6,373,364 $ 6,060,994

Note 4_ Value of Business Acqui

Note 4: Value of Business Acquired	12 Months Ended
	Dec. 31, 2016
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 2016 2015 Balance at beginning of year $ 8,743,773 $ 8,547,627 Value of business acquired - 1,473,272 Imputed interest at 7% 45,762 590,108 Amortization (1,219,235) (1,867,234) Net amortization charged to income (1,173,473) (1,277,126) Balance at end of year $ 7,570,300 $ 8,743,773 Presuming no additional acquisitions, net amortization charged to income is expected to approximate $1,119,000 , $1,041,000 , $966,000 , $899,000 , and $835,000 for the years 2017 through 2021. Actual amortization may vary based on changes in assumptions or experience. As of December 31, 2016, value of business acquired is being amortized over a weighted average life of 5.4 years. Information with regard to goodwill acquired is as follows: December 31 2016 2015 Balance at beginning of year $ 2,765,570 $ 2,765,570 Goodwill acquired - - Other - - Balance at end of year $ 2,765,570 $ 2,765,570 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, 2016
Notes
Note 5: Property and Equipment	5) Property and Equipment The cost of property and equipment is summarized below: December 31 2016 2015 Land and buildings $ 9,155,665 $ 13,126,195 Furniture and equipment 19,548,521 16,613,862 28,704,186 29,740,057 Less accumulated depreciation (19,912,664) (18,298,397) Total $ 8,791,522 $ 11,441,660 Depreciation expense for the years ended December 31, 2016, 2015 and 2014 was $2,182,724 , $2,183,496 and $2,177,165 , respectively.

Note 6_ Bank and Other Loans Pa

Note 6: Bank and Other Loans Payable	12 Months Ended
	Dec. 31, 2016
Notes
Note 6: Bank and Other Loans Payable	6) Bank and Other Loans Payable Bank loans payable are summarized as follows: December 31 2016 (As Restated) 2015 (As Restated) 1.65% above the monthly LIBOR rate (0.625% at December 31, 2016) note payable in monthly installments of $13,741 including principal and interest, collateralized by real property with a book value of approximately $498,000, due November 2017. $ 147,346 $ 312,240 Mark to market of interest rate swaps (discussed below) adjustment 3,308 13,947 6.50% note payable in monthly installments of $1,702 including principal and interest, collateralized by real property with a book value of approximately $278,000, due October 2041. 251,072 - 2.25% above the monthly LIBOR rate (0.625% at December 31, 2016) plus 1/16th of the monthly LIBOR rate note payable in monthly principal payments of $13,167 plus interest, collateralized by real property with a book value of approximately $4,564,000, due October 2021. 3,133,787 3,260,266 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. 1,093,349 2,062,512 4.27% note payable in monthly installments of $53,881 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due November 2021. 2,904,354 - 4.40% note payable in monthly installments of $46,825 including principal and interest, collateralized by real property with a book value of approximately $12,060,000, due January 2026. 7,927,526 8,135,438 4.329% note payable in monthly installments of $9,775 including principal and interest, collateralized by real property with a book value of approximately $3,048,000, due September 2025. 1,992,056 2,020,993 2.5% above the monthly LIBOR rate (0.625% at December 31, 2016) plus 1/16th of the monthly LIBOR rate construction loan payable, collateralized by real property with a book value of approximately $31,835,000, due August 2019. 8,777,941 - 2.60% above 90 day LIBOR rate (0.99789% at December 31, 2016) note payable in monthly installments of approximately $123,800, collateralized by real property with a book value of approximately $35,798,000, due October 2019. 27,377,114 24,933,346 1 month LIBOR rate (0.625% at December 31, 2016) plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures June 2018 76,843,180 61,302,069 1 month LIBOR rate (0.625% at December 31, 2016) plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures September 2017 21,578,951 28,794,630 Other collateralized bank loans payable 109,734 169,212 Other notes payable 961 961 Total bank and other loans 152,140,679 131,005,614 Less current installments 101,177,574 119,734,751 Bank and other loans, excluding current installments $ 50,963,105 $ 11,270,863 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, 2016 and 2015, the fair value of the interest rate swap was an unrealized loss of $3,308 and $13,947, 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 $3,308 and $13,947 and has been reflected in accumulated other comprehensive income. The change in accumulated other comprehensive income from the interest rate swap in 2016 and 2015 was $10,639 and $17,423, 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% (3.00% at December 31, 2016), secured by the capital stock of Security National Life and maturing September 30, 2017, renewable annually. At December 31, 2016, the Company was contingently liable under a standby letter of credit aggregating $560,350, to be used as collateral to cover any contingency related to additional risk assessments pertaining to the Company's captive insurance program and under a standby letter of credit aggregating $48,220 . 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 $2,500,000 revolving line-of-credit with a bank with interest payable at the overnight LIBOR rate plus 2.25% (2.9375% at December 31, 2016) maturing September 14, 2017. At December 31, 2016, 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 letters of credit. As of December 31, 2016, there were no amounts outstanding under the revolving line-of-credit. The Company, through its subsidiary SecurityNational Mortgage, has a $100,000,000 line of credit with Wells Fargo Bank N.A. The agreement charges interest at the 1-Month LIBOR rate plus 3% and matures on June 16, 2018. SecurityNational Mortgage is required to maintain an adjusted tangible net worth of $19,000,000, unrestricted cash of $10,000,000, indebtedness to adjusted tangible net worth of 12:1, liquidity overhead coverage of 1.75:1, and a quarterly gross profit of at least $1. The Company, through its subsidiary SecurityNational Mortgage, also uses a line of credit with Texas Capital Bank N.A. This agreement with the bank allows SecurityNational Mortgage to borrow up to $100,000,000 for the sole purpose of funding mortgage loans. SecurityNational Mortgage is currently approved to borrow $30,000,000 of the $100,000,000 available. The agreement charges interest at the 1-Month LIBOR rate plus 3% and matures on September 7, 2017. The Company is required to maintain an adjusted tangible net worth of $70,000,000, unrestricted cash of $15,000,000, and no two consecutive quarters with a net loss. In addition to financial covenants of these agreements, the Company is required to carry insurance policies for errors and omissions and general liability and was in compliance with all debt covenants as of December 31, 2016. The following tabulation shows the combined maturities of bank loans payable, lines of credit and notes and contracts payable: 2017 $ 101,177,574 2018 1,539,638 2019 36,128,905 2020 1,066,254 2021 3,436,591 Thereafter 8,791,717 Total $ 152,140,679 Interest expense in 2016, 2015 and 2014 was $5,111,868 , $4,458,612 and $2,994,429 , respectively.

Note 7_ Cemetery and Mortuary E

Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds	12 Months Ended
	Dec. 31, 2016
Notes
Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds	7) Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds State law requires the Company to pay into endowment care trusts a portion of the proceeds from the sale of certain cemetery property interment rights for cemeteries that have established an endowment care trust. These endowment 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 endowment 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 2016 2015 Trust investments, at market value $ 4,131,885 $ 2,848,759 Note receivables from Cottonwood Mortuary Singing Hills Cemetery and Memorial Estates eliminated in consolidation 1,725,714 1,780,618 Total trust assets 5,857,599 4,629,377 Cemetery perpetual care obligation (3,598,580) (3,465,771) Fair value of trust assets in excess of trust obligations $ 2,259,019 $ 1,163,606 The Company has also established certain restricted trust investments to provide for future merchandise and service obligations incurred in connection with its pre-need sales. Assets in the restricted asset account are summarized as follows: December 31 2016 2015 Cash and cash equivalents $ 8,070,972 $ 7,206,863 Mutual funds 645,241 596,994 Fixed maturity securities 8,775 8,775 Equity securities 91,362 89,450 Participating in mortgage loans with Security National Life 1,575,044 1,457,720 Total $ 10,391,394 $ 9,359,802 A surplus note receivable in the amount of $4,000,000 at December 31, 2016 and 2015, from Security National Life, was eliminated in consolidation. See Notes 1 and 16 for additional information regarding restricted assets.

Note 8_ Income Taxes

Note 8: Income Taxes	12 Months Ended
	Dec. 31, 2016
Notes
Note 8: Income Taxes	8) Income Taxes The Company’s income tax liability (benefit) is summarized as follows: December 31 2016 (As Restated) 2015 (As Restated) Current $ (1,511,762) $ (215,366) Deferred 25,830,631 20,628,255 Total $ 24,318,869 $ 20,412,889 Significant components of the Company’s deferred tax (assets) and liabilities are approximately as follows: December 31 2016 (As Restated) 2015 (As Restated) Assets Future policy benefits $ (9,719,058) $ (7,551,336) Loan loss reserve (288,590) (1,163,700) Unearned premium (1,519,722) (1,610,684) Available for sale securities (51,266) (150,984) Net operating loss (1,531,160) (588,537) Deferred compensation (2,225,208) (1,994,927) Deposit obligations (1,033,580) (1,026,984) Other (3,384,144) (3,694,959) Less: Valuation allowance 431,802 - Total deferred tax assets (19,320,926) (17,782,111) Liabilities Deferred policy acquisition costs 18,150,517 14,838,604 Basis difference in property and equipment 10,749,036 9,375,146 Value of business acquired 2,573,902 2,972,883 Deferred gains 9,290,123 6,902,888 Trusts 1,599,657 1,599,657 Tax on unrealized appreciation 2,788,322 2,721,188 Total deferred tax liabilities 45,151,557 38,410,366 Net deferred tax liability $ 25,830,631 $ 20,628,255 The valuation allowance relates to differences between recorded deferred tax assets and liabilities and ultimate anticipated realization. For the year ended December 31, 2016, the Company recorded a valuation allowance of $431,802 that relates to the acquisition of First Guaranty Insurance Company that was completed on July 11, 2016. The Company paid $2,667,918, $2,716,161 and $408,939 in income taxes for the years ended December 31, 2016, 2015 and 2014, respectively. The Company’s income tax expense (benefit) is summarized as follows for the years ended December 31: 2016 (As Restated) 2015 (As Restated) 2014 (As Restated) Current Federal $ 1,138,196 $ 2,423,846 $ 1,532,539 State 245,764 412,175 121,124 1,383,960 2,836,021 1,653,663 Deferred Federal 5,686,651 4,413,336 3,406,545 State 443,993 412,674 449,911 6,130,644 4,826,010 3,856,456 Total $ 7,514,604 $ 7,662,031 $ 5,510,119 The reconciliation of income tax expense at the U.S. federal statutory rates is as follows: 2016 (As Restated) 2015 (As Restated) 2014 (As Restated) Computed expense at statutory rate $ 6,699,099 $ 7,144,580 $ 4,667,165 State tax expense, net of federal tax benefit 455,240 544,400 376,883 Change in valuation allowance 431,802 - - Other, net (71,537) (26,949) 466,071 Tax expense $ 7,514,604 $ 7,662,031 $ 5,510,119 At December 31, 2016, the Company had no significant unrecognized tax benefits. As of December 31, 2016, 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 2013 through 2016 are subject to examination by taxing authorities.

Note 9_ Reinsurance, Commitment

Note 9: Reinsurance, Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
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 2016 and 2015. 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 $110,000 (unaudited) and approximately $1,468,935,000 (unaudited) at December 31, 2016 and 2015, respectively. The Company terminated its participation in Servicemembers’ Group Life Insurance in 2016 causing this assumed insurance in force amount to decrease. 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 a coinsurance agreement that was 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 that was entered into on July 22, 2009, which was subsequently commuted. World Insurance was subsequently purchased by and merged into American Republic. The current coinsurance agreement is now 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. The assets have subsequently been moved to a trust account held by Zions Bank as the trustee. 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 additional amounts expensed for loan losses in years ended December 31, 2016, 2015 and 2014 were $1,700,000 and $3,449,103, and $1,000,000, respectively and the charge has been included in selling, general and administrative expenses. The estimated liability for indemnification losses is included in other liabilities and accrued expenses and, as of December 31, 2016 and 2015, the balances were $628,000 and $2,806,000, respectively. Settlement of Investigation by U.S. Department of Justice and the Office of the Inspector General for the U.S. Department of Housing and Urban Development (HUD) of Certain FHA-Insured Mortgage Loans Originated On September 30, 2016, the Company, through its wholly owned subsidiary, SecurityNational Mortgage, announced the execution of a settlement agreement with the U.S. Department of Justice and the United States Attorney's Office in connection with the origination and underwriting by SecurityNational Mortgage of certain Federal Housing Administration (FHA) insured loans. SecurityNational Mortgage, like many other high volume FHA-approved lenders, was being reviewed by the U.S. Department of Justice and the Office of the Inspector General of the U.S. Department of Housing and Urban Development (HUD) for loan origination activities that occurred as long as nine years ago. Without any admission of liability and in order to avoid the extended distractions and expenses associated with protracted litigation, SecurityNational Mortgage made a business decision to resolve this matter. Pursuant to the settlement agreement, SecurityNational Mortgage was required to make a payment in the amount of $4,250,000 to the U.S. Department of Justice, which payment was made on October 4, 2016. SecurityNational Mortgage continues to be able to originate FHA-insured mortgage loans and participate fully in all FHA programs as this settlement agreement does not affect SecurityNational Mortgage's status with the Department of Housing and Urban Development. In addition, this settlement does not include any allegations or findings against any particular individuals, such as officers, directors, employees or agents of SecurityNational Mortgage. 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 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 LLC (“Aurora”). Under the terms of the Indemnification Agreement, SecurityNational Mortgage agreed to indemnify Lehman Bank and Aurora for certain amounts of actual losses, as defined, that Lehman Bank and Aurora may incur on account of the alleged breaches and early payment defaults pertaining to certain identified loans. A reserve account was set up to cover said losses. From the time the reserve account was established, approximately $4,300,000 was taken from the reserve account to indemnify Lehman Bank and Aurora for alleged losses. On March 28, 2011, Aurora Bank FSB (formerly known as Lehman Brothers Bank, FSB) (“Aurora Bank”) and Aurora allegedly 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 and Aurora in the United States District Court, Utah, which was assigned to Judge David Nuffer. The allegations in the complaint included breach of the Indemnification Agreement. SecurityNational Mortgage claimed it was entitled to a judgment of approximately $4,000,000 against Aurora Bank, as well as Aurora 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, as well as alleged early payment default loans, and initially claimed damages in excess of $5,000,000. Lehman Holdings further alleged that Aurora Bank sold mortgage loans to it and assigned contractual rights and remedies. SecurityNational Mortgage strongly disagreed with the claims in Lehman Holdings’ complaint. On November 29, 2016, Judge Nuffer entered a judgment in favor of SecurityNational Mortgage Company, jointly and severally against Aurora Commercial Corporation (successor by merger to Aurora Bank), Aurora Bank and Aurora. The amount of the judgment was $3,892,974 principal, plus interest through May 31, 2014 in the amount of $1,674,240, plus interest for each day after May 31, 2014 until judgment (dated November 29, 2016) at the rate of $960 per diem. In December 2016, the cases before Judge Nuffer and Judge Stewart were settled. Final settlement agreements were executed on December 20, 2016, which were effective as of December 9, 2016. Under the terms of the settlement, payments were made by Aurora Commercial to SecurityNational Mortgage, and by SecurityNational Mortgage to Lehman Holdings. The net result of the settlement involving both of the Utah cases was that $2,125,000 more was paid to Lehman Holdings. Additionally, the release agreed to by the parties covered claims arising from the sale of mortgage loans by SecurityNational Mortgage to Aurora Bank or Lehman Holdings that were included in the Utah cases. 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 based on alleged breaches of certain representations and warranties by Lehman Holdings. Lehman Holdings had acquired these loans from Aurora 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. 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 non-binding mediations of its alleged indemnification claims against the mortgage loan originators relative to the Fannie Mae and Freddie Mac settlements with Lehman Holdings. The mediation was not successful in resolving any issues between SecurityNational Mortgage and 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 are allegedly millions of dollars in dispute with Lehman Holdings pertaining to approximately 136 loans. SecurityNational Mortgage sought 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. Lehman Holdings filed a motion in the Delaware court seeking to stay or dismiss the declaratory judgment action. On August 24, 2016, the Court ruled that it would exercise its discretion to decline jurisdiction over the action and granted Lehman Holdings’ motion to dismiss. On February 3, 2016, Lehman Holdings filed an adversary proceeding against approximately 150 mortgage loan originators, 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 that SecurityNational Mortgage sought in its Delaware lawsuit, and for damages relating to the defendants’ obligations under indemnification provisions of the alleged agreements, in amounts to be determined at trial, including interest, attorneys’ fees and costs incurred by Lehman Holdings in enforcing the obligations of the defendants. A Case Management Order (“CMO”) was entered on November 1, 2016. On December 27, 2016, pursuant to the CMO, Lehman Holdings filed a Second Amended Complaint against SecurityNational Mortgage. The case is presently in a motion period and no Answer is required to be filed by SecurityNational Mortgage pending further order of the Court. 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, 2016, are approximately as follows: Years Ending December 31 2017 $ 6,556,093 2018 4,121,399 2019 2,583,941 2020 1,151,873 2021 496,713 Total $ 14,910,019 Total rent expense related to non-cancelable operating leases for the years ended December 31, 2016, 2015, and 2014 was approximately $7,879,000 , $7,199,000 and $5,589,000 , respectively. Other Contingencies and Commitments The Company has entered into commitments to fund construction and land development loans and has also provided financing for land acquisition and development. As of December 31, 2016, the Company’s commitments were approximately $56,422,000, for these loans of which $40,800,000 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 and interest for these loans and the interest rate is generally fixed 5.50% to 8.00% per annum. Maturities range between six and eighteen 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, 2016, $416,576 of reserves was established related to such insurance programs versus $834,855 at December 31, 2015. 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, 2016
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, 2016, the ESOP held 500,450 shares of Class A and 265,623 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 , $18,000 and $17,500 for the years 2016, 2015 and 2014, 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 the years ended December 31, 2016, 2015 and 2014 was $1,429,962, $1,197,236 and $899,850, 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 2016, 2015 and 2014. 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 $511,443 , $999,961 and $833,183 during the years ended December 31, 2016, 2015 and 2014, respectively, to cover the present value of anticipated retirement benefits under the employment agreement. The liability accrued is $3,776,368 and $3,264,925 as of December 31, 2016 and 2015, respectively and is included in “Other liabilities and accrued expenses” on the Consolidated Balance Sheet. 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 are paid monthly during the ten-year period. 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 $148,557 , $320,039 and $154,817 during the years ended December 31, 2016, 2015 and 2014, respectively, to cover the present value of the retirement benefits under the employment agreement. The company paid $133,842 in retirement compensation to Mr. Beckstead during the year ended December 31, 2016. The liability accrued was $1,109,277 and $1,093,720 as of December 31, 2016 and 2015, respectively and is included in “Other liabilities and accrued expenses” on the Consolidated Balance Sheet.

Note 11_ Capital Stock

Note 11: Capital Stock	12 Months Ended
	Dec. 31, 2016
Notes
Note 11: Capital Stock	11) Capital Stock The Company has one class of preferred stock of $1.00 par value, 5,000,000 shares authorized, of which none are issued. The preferred stock is non-voting. 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 Class A and Class C common stock have received 5% stock dividends in the years 1990 through 2016, 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, 2016: Class A Class C (1) 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 Exercise of stock options 42,634 104,975 Stock dividends 657,919 96,967 Conversion of Class C to Class A 9,353 (9,353) Balance at December 31, 2016 13,819,006 1,902,229 (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: 2016 (As Restated) 2015 (As Restated) 2014 (As Restated) Numerator: Net earnings $ 12,188,627 $ 13,351,441 $ 8,216,832 Denominator: Denominator for basic earnings per share-weighted-average shares 14,806,290 14,439,274 13,893,260 Effect of dilutive securities Employee stock options 320,914 512,559 451,215 Dilutive potential common shares 320,914 512,559 451,215 Denominator for diluted earnings per share-adjusted weighted-average shares and assumed conversions 15,127,204 14,951,833 14,344,475 Basic earnings per share $0.82 $0.92 $0.59 Diluted earnings per share $0.81 $0.89 $0.57

Note 12_ Stock Compensation Pla

Note 12: Stock Compensation Plans	12 Months Ended
	Dec. 31, 2016
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 $343,577 , $387,608 and $391,220 has been recognized under these plans for the years ended December 31, 2016, 2015 and 2014, respectively. As of December 31, 2016, the total unrecognized compensation expense related to the options issued in December 2016 was $374,914, which is expected to be recognized over the vesting period of one year. The weighted-average fair value of each option granted in 2016 under the 2013 Plan, is estimated at $2.17 for the December 21, 2016 options as of the grant date using the Black Scholes Option Pricing Model with the following assumptions: dividend yield of 5%, volatility of 54.42%, risk-free interest rate of 1.99%, and an expected term of 5.31 years. The weighted-average fair value of each option granted in 2016 under the 2014 Director Plan, is estimated at $2.41 for the December 7, 2016 options as of the grant date using the Black Scholes Option Pricing Model with the following assumptions: dividend yield of 5%, volatility of 54.60%, risk-free interest rate of 1.93%, and an expected term of 5.31 years. The weighted-average fair value of each option granted in 2016 under the 2013 Plan and the 2014 Director Plan, is estimated at $1.89 for the December 2, 2016 options as of the grant date using the Black Scholes Option Pricing Model with the following assumptions: dividend yield of 5%, volatility of 47.05%, risk-free interest rate of 1.78%, and an expected term of 4.33 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 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 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 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 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 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 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, 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 Adjustment for the effect of stock dividends 35,346 26,491 Granted 133,500 80,000 Exercised (42,634) (127,629) Cancelled (2,500) - Outstanding at December 31, 2016 741,973 $ 4.33 556,298 $ 4.52 Exercisable at end of year 601,731 $ 3.78 472,298 $ 4.02 Available options for future grant 253,432 - Weighted average contractual term of options outstanding at December 31, 2016 7.37 years 2.67 years Weighted average contractual term of options exercisable at December 31, 2016 6.77 years 2.27 years Aggregated intrinsic value of options outstanding at December 31, 2016 (1) $1,452,902 $1,079,136 Aggregated intrinsic value of options exercisable at December 31, 2016 (1) $1,452,574 $1,079,136 (1) The Company used a stock price of $6.19 as of December 31, 2016 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, 2016 and 2015 was $670,959 and $1,190,879 , respectively.

Note 13_ Statutory Financial In

Note 13: Statutory Financial Information and Dividend Limitations	12 Months Ended
	Dec. 31, 2016
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 2016 2015 2014 2016 2015 Amounts by insurance subsidiary: Security National Life Insurance Company $ 2,601,408 $ 3,478,338 $ 5,137,208 $ 36,789,358 $ 32,771,066 First Guaranty Insurance Company 174,562 - - 4,091,847 - Memorial Insurance Company of America 460 49 415 1,081,319 1,082,059 Southern Security Life Insurance Company, Inc. 889 491 467 1,592,440 1,590,605 Trans-Western Life Insurance Company 1,203 (52) 1,304 500,333 499,130 Total $ 2,778,522 $ 3,478,826 $ 5,139,394 $ 44,055,297 $ 35,942,860 The Utah, Arkansas, Louisiana, Mississippi and Texas Insurance Departments impose minimum risk-based capital (“RBC”) requirements 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, 2016. 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 $44,055,297 at December 31, 2016, 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, 2016
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. 2016 (As Restated) Life Cemetery/ Intercompany Insurance Mortuary Mortgage Eliminations Consolidated Revenues: From external sources: Revenue from customers $ 66,902,126 $ 12,267,640 $ 181,141,687 $ - $ 260,311,453 Net investment income 28,618,485 312,494 8,651,465 - 37,582,444 Realized gains (losses) on investments and other assets (277,040) 211,429 (110,776) - (176,387) Other than temporary impairments (270,358) - - - (270,358) Other revenues 632,260 88,676 6,166,813 - 6,887,749 Intersegment revenues: Net investment income 7,119,692 691,876 327,778 (8,139,346) - Total revenues 102,725,165 13,572,115 196,176,967 (8,139,346) 304,334,901 Expenses: Death and other policy benefits 33,387,380 - - - 33,387,380 Increase in future policy benefits 21,322,195 - - - 21,322,195 Amortization of deferred policy and preneed acquisition costs and value of business acquired 7,647,097 356,078 - - 8,003,175 Depreciation 596,827 390,362 1,195,535 - 2,182,724 General, administrative and other costs: Intersegment - 148,025 219,974 (367,999) - Provision for loan losses - - 1,700,000 - 1,700,000 Costs related to funding mortgage loans - - 9,191,488 - 9,191,488 Other 29,478,156 10,524,535 163,730,148 1 203,732,840 Interest expense: Intersegment 781,078 651,046 6,339,224 (7,771,348) - Other 1,654,264 282,878 3,174,726 - 5,111,868 Total benefits and expenses 94,866,997 12,352,924 185,551,095 (8,139,346) 284,631,670 Earnings before income taxes $ 7,858,168 $ 1,219,191 $ 10,625,872 $ - $ 19,703,231 Income tax expense (3,451,292) - (4,063,312) - (7,514,604) Net earnings $ 4,406,876 $ 1,219,191 $ 6,562,560 $ - $ 12,188,627 Identifiable assets $ 821,097,220 $ 99,611,263 $ 171,844,559 $ (140,874,459) $ 951,678,583 Goodwill $ 2,765,570 $ - $ - $ - $ 2,765,570 Expenditures for long-lived assets $ 532,958 $ 723,445 $ 2,310,108 $ - $ 3,566,511 2015 (As Restated) Life Cemetery/ Intercompany Insurance Mortuary Mortgage Eliminations Consolidated Revenues: From external sources: Revenue from customers $ 58,883,721 $ 11,502,045 $ 169,043,426 $ - $ 239,429,192 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 13,642,226 181,269,900 (9,097,340) 280,354,832 Expenses: Death and other policy benefits 33,549,893 - - - 33,549,893 Increase in future policy benefits 17,057,764 - - - 17,057,764 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 - - 3,449,103 - 3,449,103 Costs related to funding mortgage loans - - 8,901,511 - 8,901,511 Other 27,416,860 10,117,012 146,565,817 (1) 184,099,688 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 85,920,810 12,728,667 169,789,223 (9,097,340) 259,341,360 Earnings before income taxes $ 8,619,236 $ 913,559 $ 11,480,677 $ - $ 21,013,472 Income tax expense (3,191,370) - (4,470,661) - (7,662,031) Net earnings $ 5,427,866 $ 913,559 $ 7,010,016 $ - $ 13,351,441 Identifiable assets $ 721,362,741 $ 101,935,898 $ 157,283,191 $ (140,108,664) $ 840,473,166 Goodwill $ 2,765,570 $ - $ - $ - $ 2,765,570 Expenditures for long-lived assets $ 3,024,223 $ 154,226 $ 454,241 $ - $ 3,632,690 2014 (As Restated) Life Cemetery/ Intercompany Insurance Mortuary Mortgage Eliminations Consolidated Revenues: From external sources: Revenue from customers $ 57,037,623 $ 11,426,308 $ 122,778,529 $ - $ 191,242,460 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 13,745,495 131,460,445 (8,060,125) 225,047,149 Expenses: Death and other policy benefits 29,789,964 - - - 29,789,964 Increase in future policy benefits 17,905,914 - - - 17,905,914 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 - - 1,000,000 - 1,000,000 Costs related to funding mortgage loans - - 6,451,319 - 6,451,319 Other 23,045,928 10,245,144 110,817,359 (2) 144,108,429 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 79,275,342 13,082,239 127,022,742 (8,060,125) 211,320,198 Earnings before income taxes $ 8,625,992 $ 663,256 $ 4,437,703 $ - $ 13,726,951 Income tax expense (3,796,327) - (1,713,792) - (5,510,119) Net earnings $ 4,829,665 $ 663,256 $ 2,723,911 $ - $ 8,216,832 Identifiable assets $ 652,348,803 $ 109,114,226 $ 130,972,484 $ (142,742,671) $ 749,692,842 Goodwill $ 2,765,570 $ - $ - $ - $ 2,765,570 Expenditures for long-lived assets $ 660,830 $ 121,677 $ 737,936 $ - $ 1,520,443

Note 15_ Related Party Transact

Note 15: Related Party Transactions	12 Months Ended
	Dec. 31, 2016
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, 2016
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 Endowment 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. Loan Commitments and Forward Sale Commitments The Company estimates the fair value of a loan commitment based on the change in estimated fair value of the underlying mortgage loan, quoted MBS prices, estimates of the fair value of mortgage servicing rights, and an estimate of the probability that the mortgage loan will fund within the terms of the commitment net of estimated commission expense. The change in fair value of the underlying mortgage loan is measured from the date the loan commitment is issued and is shown net of related expenses. 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 and other factors from the Company’s recent historical data are used to estimate the quantity and value of mortgage loans that will fund within the terms of the commitments. Interest Rate Swaps Other Investments 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 20% of the projected cash flow analysis and 80% 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 which estimates the proportion to, and over the period of the estimated future net servicing income of the underlying financial assets. 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, 2016, as restated. 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 $ 10,573,356 $ 10,573,356 $ - $ - Total securities available for sale 10,573,356 10,573,356 - - Restricted assets of cemeteries and mortuaries 736,603 736,603 - - Cemetery perpetual care trust investments 698,202 698,202 - - Derivatives - loan commitments 6,911,544 - - 6,911,544 Other investments 1,765,752 - - 1,765,752 Total assets accounted for at fair value on a recurring basis $ 20,685,457 $ 12,008,161 $ - $ 8,677,296 Liabilities accounted for at fair value on a recurring basis Policyholder account balances $ (49,421,125) $ - $ - $ (49,421,125) Future policy benefits - annuities (99,388,662) - - (99,388,662) Derivatives - bank loan interest rate swaps (3,308) - - (3,308) - call options (109,474) (109,474) - - - put options (26,494) (26,494) - - - loan commitments (102,212) - - (102,212) Total liabilities accounted for at fair value on a recurring basis $ (149,051,275) $ (135,968) $ - $ (148,915,307) 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 Loan Commitments Bank Loan Interest Rate Swaps Other Investments Balance - December 31, 2015, as restated $ (50,694,953) $ (69,398,617) $ 7,671,495 $ (13,947) $ 1,174,769 Purchases (30,294,480) 600,000 Total Losses (Gains): Included in earnings 1,273,828 304,435 (862,163) - Included in other comprehensive income (loss) - - - 10,639 (9,017) Balance - December 31, 2016, as restated $ (49,421,125) $ (99,388,662) $ 6,809,332 $ (3,308) $ 1,765,752 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, 2016. 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 loans on real estate $ 2,809,925 $ - $ - $ 2,809,925 Mortgage servicing rights 8,603,154 - - 8,603,154 Real estate held for investment 2,347,820 - - 2,347,820 Total assets accounted for at fair value on a nonrecurring basis $ 13,760,899 $ - $ - $ 13,760,899 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, as restated. 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 $ 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 - loan commitments 7,779,162 - - 7,779,162 Other investments 1,174,769 - - 1,174,769 Total assets accounted for at fair value on a recurring basis $ 18,702,319 $ 9,748,388 $ - $ 8,953,931 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) - - - loan 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 Loan Commitments Bank Loan Interest Rate Swaps Other Investments Balance - December 31, 2014, as restated $ (45,310,699) $ (65,540,985) $ 5,105,605 $ (31,370) $ - Purchases 1,200,000 Total Losses (Gains): Included in earnings (5,384,254) (3,857,632) 2,565,890 - Included in other comprehensive income (loss) - - - 17,423 (25,231) Balance - December 31, 2015, as restated $ (50,694,953) $ (69,398,617) $ 7,671,495 $ (13,947) $ 1,174,769 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 loans on real estate $ 2,874,468 $ 2,874,468 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 $ 9,187,019 $ - $ - $ 9,187,019 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, 2016 and 2015. The estimated fair value amounts for December 31, 2016 and 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, 2016, as restated: Carrying Value Level 1 Level 2 Level 3 Total Estimated Fair Value Assets Fixed maturity securities, held to maturity $ 184,979,644 $ - $ 191,850,749 $ - $ 191,850,749 Mortgage loans: Residential 57,132,082 - - 61,357,393 61,357,393 Residential construction 40,700,003 - - 40,700,003 40,700,003 Commercial 51,349,493 - - 53,299,800 53,299,800 Mortgage loans, net $ 149,181,578 $ - $ - $ 155,357,196 $ 155,357,196 Loans held for sale 189,139,832 - - 192,289,854 192,289,854 Policy loans 6,694,148 - - 6,694,148 6,694,148 Insurance assignments, net 32,477,246 - - 32,477,246 32,477,246 Short-term investments 27,560,040 - - 27,560,040 27,560,040 Mortgage servicing rights 18,872,362 - - 25,496,832 25,496,832 Liabilities Bank and other loans payable $ (152,137,341) $ - $ - $ (152,137,341) $ (152,137,341) 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, as restated: Carrying Value Level 1 Level 2 Level 3 Total Estimated Fair Value Assets Fixed maturity securities, held to maturity $ 145,558,425 $ - $ 150,507,158 $ - $ 150,507,158 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 Loans held for sale $ 112,546,905 $ - $ - $ 116,723,529 $ 116,723,529 Mortgage loans, net 211,453,006 $ 217,646,189 217,646,189 Policy loans 6,896,457 - - 6,896,457 6,896,457 Insurance assignments, net 31,511,195 - - 31,511,195 31,511,195 Short-term investments 16,915,808 - - 16,915,808 16,915,808 Mortgage servicing rights 12,679,755 - - 13,897,160 13,897,160 Liabilities Bank and other loans payable $ (130,991,667) $ - $ - $ (130,991,667) $ (130,991,667) The methods, assumptions and significant valuation techniques and inputs used to estimate the fair value of financial instruments are summarized as follows: Fixed Maturity Securities, Held to Maturity : 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. 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 thru 2016 is determined from pricing of similar loans that were sold in 2016. Residential Construction – These loans are primarily short in maturity (4-6 months) accordingly, the estimated fair value is determined to be the net book value. Commercial – The estimated fair value is determined by estimating expected future cash flows of interest payments and discounting them using current interest rates for commercial mortgages. Loans Held for Sale : The fair value is based on quoted market prices, when available. When a quoted market price is not readily available, the Company uses the market price from its last sale of similar assets. Policy Loans : The carrying amounts reported in the accompanying consolidated balance sheet for these financial instruments approximate their fair values because they are fully collateralized by the cash surrender value of the underlying insurance policies. Insurance Assignments, Net : These investments are short in maturity accordingly, the carrying amounts reported in the accompanying condensed consolidated balance sheet for these financial instruments approximate their fair values. Short-Term Investments : The carrying amounts reported in the accompanying consolidated balance sheet for these financial instruments approximate their fair values due to their short-term nature. Bank and Other Loans Payable due to their short-term nature

Note 17_ Accumulated Other Comp

Note 17: Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2016
Notes
Note 17: Accumulated Other Comprehensive Income	17) Accumulated Other Comprehensive Income The following summarizes the changes in accumulated other comprehensive income: December 31 2016 2015 Unrealized gains (losses) on available for-sale securities $ 996,343 $ (1,289,508) Reclassification adjustment for net realized gains in net income 160,575 113,751 Net unrealized gains (losses) before taxes 1,156,918 (1,175,757) Tax (expense) benefit (399,228) 404,414 Net 757,690 (771,343) Potential unrealized gains for derivative bank loans (interest rate swaps) before taxes 10,639 17,423 Tax expense (4,149) (6,795) Net 6,490 10,628 Other comprehensive income (loss) changes $ 764,180 $ (760,715) The following is the accumulated balances of other comprehensive income as of December 31, 2016: Beginning Balance December 31, 2015 Change for the period Ending Balance December 31, 2016 Unrealized net gains (losses) on available-for-sale securities and trust investments $ (490,850) $ 757,690 $ 266,840 Unrealized gains (losses) on derivative bank loan interest rate swaps (8,508) 6,490 (2,018) Other comprehensive income (loss) $ (499,358) $ 764,180 $ 264,822 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 (losses) on available-for-sale securities and trust investments $ 280,493 $ (771,343) $ (490,850) Unrealized gains (losses) on derivative bank loan interest rate swaps (19,136) 10,628 (8,508) Other comprehensive income (loss) $ 261,357 $ (760,715) $ (499,358) 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 (losses) on available-for-sale securities and trust investments $ 346,341 $ (65,848) $ 280,493 Unrealized gains (losses) on derivative bank loan interest rate swaps (35,569) 16,433 (19,136) Other comprehensive income (loss) $ 310,772 $ (49,415) $ 261,357

Note 18_ Derivative Instruments

Note 18: Derivative Instruments	12 Months Ended
	Dec. 31, 2016
Notes
Note 18: Derivative Instruments	18) Derivative Instruments The following table shows the fair value of derivatives as of December 31, 2016 and 2015. Fair Value of Derivative Instruments Asset Derivatives Liability Derivatives December 31, 2016 (As Restated) December 31, 2015 (As Restated) December 31, 2016 December 31, 2015 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: Loan commitments other assets $6,911,544 other assets $ 7,779,162 Other liabilities $102,212 Other liabilities $107,667 Call Options - - Other liabilities 109,474 Other liabilities 16,342 Put Options - - Other liabilities 26,494 Other liabilities 28,829 Interest rate swaps - - Bank loans payable 3,308 Bank loans payable 13,947 Total $6,911,544 $ 7,779,162 $241,488 $166,785 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: 2016 2015 Interest Rate Swaps $ 10,639 $ 17,423 Sub Total 10,639 17,423 Tax Effect 4,149 6,795 Total $ 6,490 $ 10,628

Note 19_ Acquisitions

Note 19: Acquisitions	12 Months Ended
	Dec. 31, 2016
Notes
Note 19: Acquisitions	19) Acquisitions Acquisition of First Guaranty Insurance Company On July 11, 2016, the Company, through its wholly owned subsidiary, Security National Life completed the stock purchase transaction with the shareholders of Reppond Holding Corporation, an Arkansas corporation ("Reppond Holding") and sole shareholder of First Guaranty Insurance Company, a Louisiana domestic stock legal reserve life insurance company ("First Guaranty"), to purchase all the outstanding shares of common stock of Reppond Holding. Under the terms of the stock purchase agreement, dated February 17, 2016, between Security National Life and Reppond Holding, which was later amended on March 4 and 17, 2016, Security National Life paid a total of $6,753,000 at the closing in consideration for the purchase of all the outstanding shares of stock of Reppond Holding from its shareholders. The fair values of assets acquired and liabilities assumed are subject to adjustment during the first twelve months after the acquisition date if additional information becomes available to indicate a more accurate or appropriate value for an asset or liability. As the acquisition was completed at quarter end, the fair values of substantially all of the net assets are considered preliminary. The estimated fair values of the assets acquired and the liabilities assumed at the date of acquisition were as follows: Fixed maturity securities, held to maturity $ 43,878,084 Equity securities, available for sale 646,335 Mortgage loans on real estate 4,528,582 Real estate held for investment 528,947 Policy loans 145,953 Short-term investments 5,358,403 Accrued investment income 585,985 Cash and cash equivalents 2,424,480 Receivables 73,347 Property and equipment 21,083 Deferred tax asset 1,190,862 Receivable from reinsurers 34,948 Other 57,768 Total assets acquired 59,474,777 Future life, annuity, and other benefits (52,648,838) Accounts payable (6,953) Other liabilities and accrued expenses (65,986) Total liabilities assumed (52,721,777) Fair value of net assets acquired/consideration paid $ 6,753,000 The estimated fair value of the fixed maturity securities and the equity securities is based on unadjusted quoted prices for identical assets in an active market. These types of financial assets are considered Level 1 under the fair value hierarchy. The estimated fair value of future life, annuity, and other benefits is based on assumptions of the future value of the business acquired. Based on the unobservable nature of certain of these assumptions, the valuation for these financial liabilities is considered to be Level 3 under the fair value hierarchy. The Company determined that the estimated fair value of the remaining assets and liabilities acquired approximated their book values. The fair value of assets acquired and liabilities assumed are subject to adjustment during the first twelve months after the acquisition date if additional information becomes available to indicate a more accurate or appropriate value for an asset or liability. The following unaudited pro forma information has been prepared to present the results of operations of the Company assuming the acquisition of First Guaranty had occurred at the beginning of the years ended December 31, 2016, 2015 and 2014, 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) 2016 (As Restated) 2015 (As Restated) 2014 (As Restated) Total revenues $ 306,471,770 $ 284,812,830 $ 229,483,646 Net earnings $ 11,923,653 $ 12,627,709 $ 8,044,482 Net earnings per Class A equivalent common share $ 0.95 $ 0.88 $ 0.57 Net earnings per Class A equivalent common share assuming dilution $ 0.93 $ 0.85 $ 0.55 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, 2016, 2015 and 2014, 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) 2016 (As Restated) 2015 (As Restated) 2014 (As Restated) Total revenues $ 304,334,901 $ 280,354,832 $ 227,379,128 Net earnings $ 12,188,627 $ 13,351,441 $ 8,458,589 Net earnings per Class A equivalent common share $ 0.96 $ 0.93 $ 0.59 Net earnings per Class A equivalent common share assuming dilution $ 0.94 $ 0.90 $ 0.58

Note 20_ Mortgage Servicing Rig

Note 20: Mortgage Servicing Rights	12 Months Ended
	Dec. 31, 2016
Notes
Note 20: Mortgage Servicing Rights	20) Mortgage Servicing Rights The following table presents the MSR activity for 2016 and 2015. December 31 2016 2015 Amortized cost: Balance before valuation allowance at beginning of year $ 12,679,755 $ 7,834,747 MSRs received as proceeds from loan sales 8,603,154 6,217,551 Amortization (2,410,547) (1,372,543) Application of valuation allowance to write down MSRs with other than temporary impairment - - Balance before valuation allowance at year end $ 18,872,362 $ 12,679,755 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 $ 18,872,362 $ 12,679,755 Estimated fair value of MSRs at year end $ 25,496,832 $ 13,897,160 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, 2016 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 2017 $ 2,696,052 2018 2,696,052 2019 2,696,052 2020 2,696,052 2021 2,696,052 Thereafter 5,392,104 Total $ 18,872,364 During the years ended December 31, 2016, 2015 and 2014, the Company collected the following contractual servicing fee income and late fee income as reported in other revenues on the Consolidated Statement of Earnings: 2016 2015 2014 Contractual servicing fees $ 5,661,699 $ 3,864,454 $ 2,641,234 Late fees 203,509 120,241 123,399 Total $ 5,865,207 $ 3,984,695 $ 2,764,633 The following is a summary of the unpaid principal balances of the servicing portfolio for the periods presented: Years Ended December 31 2016 2015 2014 Servicing UPB 2,720,441,340 1,861,835,430 1,227,249,143 The following key assumptions were used in determining MSR value: Prepayment Speeds Average Life(Years) Discount Rate December 31, 2016 3.77% 6.52 10.01 December 31, 2015 3.02% 5.24 10.00 December 31, 2014 2.87% 4.96 10.00

Note 21_ Correction of Errors

Note 21: Correction of Errors	12 Months Ended
	Dec. 31, 2016
Notes
Note 21: Correction of Errors	21) Correction of Errors The accompanying Consolidated Financial Statements include the restatement of the Company’s previously filed consolidated balance sheets and the related consolidated statements of operations, shareholders’ equity and cash flows for the fiscal years ended December 31, 2014, December 31, 2015, and December 31, 2016. For the revised quarterly results of operations for the fiscal years ended December 31, 2014, 2015 and 2016, see “Impact of Restatement Adjustments on Quarterly Financial Statements (Unaudited)” in Note 22 of the accompanying Consolidated Financial Statements. Immaterial Error in Accounting for Loan Commitments Subsequent to the issuance of the company’s 2016 Consolidated Financial Statements, the Company identified the following errors, (“Adjustments B”): Material Error in Accounting for Repurchase Agreements Material Error in Accounting for Tax Valuation Allowance Other Immaterial Corrections and Reclassifications Reclassification of Receivables to Loans Held for Sale Reclassification of the Provision for Loan Loss Reserve to net against Mortgage Fee Income Correction to Future Life, Annuity and Other Benefits to reverse a deferred profit liability The tables below present the impact of the restatement on the Company’s Consolidated Balance Sheets for the periods presented: As of December 31, 2016 As Originally Reported Adjustment (A) As Previously Reported Adjustments (B) As Restated Loans held for sale (formerly called Mortgage loans sold to investors) $ 82,491,091 $ - $ 82,491,091 $ 106,648,741 $ 189,139,832 Receivables, net 18,870,119 - 18,870,119 (12,496,755) 6,373,364 Other assets 6,891,468 - 6,891,468 3,521,926 10,413,394 Total Assets 854,004,671 - 854,004,671 97,673,912 951,678,583 Future life, annuity, and other benefits 585,610,063 - 585,610,063 (1,542,371) 584,067,692 Bank and other loans payable 53,718,548 - 53,718,548 98,422,131 152,140,679 Income taxes 27,904,294 - 27,904,294 (3,585,425) 24,318,869 Total liabilities 725,825,117 - 725,825,117 93,294,335 819,119,452 Accumulated other comprehensive income, net of taxes 264,822 - 264,822 - 264,822 Retained earnings 63,029,627 - 63,029,627 4,379,577 67,409,204 Total stockholders' equity 128,179,554 - 128,179,554 4,379,577 132,559,131 Total Liabilities and Stockholders' Equity 854,004,671 - 854,004,671 97,673,912 951,678,583 As of December 31, 2015 As Originally Reported Adjustment (A) As Previously Reported Adjustments (B) As Restated Loans held for sale (formerly called Mortgage loans sold to investors) $ 115,286,455 $ - $ 115,286,455 $ 96,166,551 $ 211,453,006 Receivables, net 16,026,100 - 16,026,100 (9,965,106) 6,060,994 Other assets 7,100,869 - 7,100,869 4,338,404 11,439,273 Total Assets 749,933,317 - 749,933,317 90,539,849 840,473,166 Future life, annuity, and other benefits 517,177,388 - 517,177,388 (1,388,134) 515,789,254 Bank and other loans payable 40,908,915 - 40,908,915 90,096,699 131,005,614 Income taxes 25,052,059 - 25,052,059 (4,639,170) 20,412,889 Total liabilities 638,687,092 - 638,687,092 84,069,395 722,756,487 Accumulated other comprehensive income, net of taxes 1,533,828 (2,033,186) (499,358) - (499,358) Retained earnings 52,021,764 2,033,186 54,054,950 6,470,454 60,525,404 Total stockholders' equity 111,246,225 - 111,246,225 6,470,454 117,716,679 Total Liabilities and Stockholders' Equity 749,933,317 - 749,933,317 90,539,849 840,473,166 As of January 1, 2014 As Originally Reported Adjustment (A) As Previously Reported Adjustments (B) As Restated Accumulated other comprehensive income, net of taxes $ 1,218,396 $ (907,624) $ 310,772 $ - $ 310,772 Retained earnings 39,666,587 907,624 40,574,211 6,405,271 46,979,482 As of December 31, 2014 As Originally Reported Adjustment (A) As Previously Reported Adjustments (B) As Restated Accumulated other comprehensive income, net of taxes 1,438,566 (1,177,209) 261,357 - 261,357 Retained earnings 44,101,252 1,177,209 45,278,461 6,597,870 51,876,331 The tables below present the impact of the restatement on the Company’s Consolidated Statements of Earnings for the periods presented: Year Ended December 31, 2016 As Originally Reported Adjustment (A) As Previously Reported Adjustments (B) As Restated Mortgage fee income $ 186,416,311 $ - $ 186,416,311 $ (2,873,515) $ 183,542,796 Total revenues 307,208,416 - 307,208,416 (2,873,515) 304,334,901 Increase in future policy benefits 21,476,432 - 21,476,432 (154,237) 21,322,195 Commissions 87,762,583 - 87,762,583 871,911 88,634,494 Provision for loan loss reserve 4,688,754 - 4,688,754 (2,988,754) 1,700,000 Cost related to funding mortgage loans 8,756,791 - 8,756,791 434,697 9,191,488 Total benefits and expenses 286,468,053 - 286,468,053 (1,836,383) 284,631,670 Earnings before income taxes 20,740,363 - 20,740,363 (1,037,132) 19,703,231 Income tax expense (6,460,859) - (6,460,859) (1,053,745) (7,514,604) Net earnings 14,279,504 - 14,279,504 (2,090,877) 12,188,627 Net earnings per common share (1) $0.96 $0.00 $0.96 ($0.14) $0.82 Net earnings per common share assuming dilution (1) $0.94 $0.00 $0.94 ($0.14) $0.81 Year Ended December 31, 2015 As Originally Reported Adjustment (A) As Previously Reported Adjustments (B) As Restated Mortgage fee income $ 174,323,452 $ 1,403,240 $ 175,726,692 $ (4,209,408) $ 171,517,284 Total revenues 283,161,000 1,403,240 284,564,240 (4,209,408) 280,354,832 Increase in future policy benefits 17,212,001 - 17,212,001 (154,237) 17,057,764 Commissions 81,935,623 - 81,935,623 (1,035,005) 80,900,618 Provision for loan loss reserve 6,295,043 - 6,295,043 (2,845,940) 3,449,103 Cost related to funding mortgage loans 8,864,404 - 8,864,404 37,107 8,901,511 Total benefits and expenses 263,339,435 - 263,339,435 (3,998,075) 259,341,360 Earnings before income taxes 19,821,565 1,403,240 21,224,805 (211,333) 21,013,472 Income tax expense (7,198,685) (547,263) (7,745,948) 83,917 (7,662,031) Net earnings 12,622,880 855,977 13,478,857 (127,416) 13,351,441 Net earnings per common share (1) $0.87 $0.06 $0.93 ($0.01) $0.92 Net earnings per common share assuming dilution (1) $0.84 $0.06 $0.90 ($0.01) $0.89 Year Ended December 31, 2014 As Originally Reported Adjustment (A) As Previously Reported Adjustments (B) As Restated Mortgage fee income $ 128,696,998 $ 441,943 $ 129,138,941 $ (2,331,468) $ 126,807,473 Total revenues 226,936,674 441,943 227,378,617 (2,331,468) 225,047,149 Increase in future policy benefits 18,060,151 - 18,060,151 (154,237) 17,905,914 Commissions 59,876,675 - 59,876,675 (502,133) 59,374,542 Provision for loan loss reserve 3,053,403 - 3,053,403 (2,053,403) 1,000,000 Cost related to funding mortgage loans 6,877,069 - 6,877,069 (425,750) 6,451,319 Total benefits and expenses 214,455,721 - 214,455,721 (3,135,523) 211,320,198 Earnings before income taxes 12,480,953 441,943 12,922,896 804,055 13,726,951 Income tax expense (4,726,305) (172,358) (4,898,663) (611,456) (5,510,119) Net earnings 7,754,648 269,585 8,024,233 192,599 8,216,832 Net earnings per common share (1) $0.56 $0.02 $0.58 $0.01 $0.59 Net earnings per common share assuming dilution (1) $0.54 $0.02 $0.56 $0.01 $0.57 (1) Earnings per share amounts have been adjusted retroactively for the effect of annual stock dividends. The tables below present the impact of the restatement on the Company’s Consolidated Statements of Comprehensive Income for the periods presented: Year Ended December 31, 2016 As Originally Reported Adjustment (A) As Previously Reported Adjustments (B) As Restated Net earnings $ 14,279,504 $ - $ 14,279,504 $ (2,090,877) $ 12,188,627 Net unrealized gains (losses) on derivative instruments 6,490 - 6,490 - 6,490 Other comprehensive gain (loss) 764,180 - 764,180 - 764,180 Year Ended December 31, 2015 As Originally Reported Adjustment (A) As Previously Reported Adjustments (B) As Restated Net earnings $ 12,622,880 $ 855,977 $ 13,478,857 $ (127,416) $ 13,351,441 Net unrealized gains (losses) on derivative instruments 866,605 (855,977) 10,628 - 10,628 Other comprehensive gain (loss) 95,262 (855,977) (760,715) - (760,715) Year Ended December 31, 2014 As Originally Reported Adjustment (A) As Previously Reported Adjustments (B) As Restated Net earnings $ 7,754,648 $ 269,585 $ 8,024,233 $ 192,599 $ 8,216,832 Net unrealized gains (losses) on derivative instruments 286,018 (269,585) 16,433 - 16,433 Other comprehensive gain (loss) 220,170 (269,585) (49,415) - (49,415) The tables below present the impact of the restatement on the Company’s Consolidated Statements of Cash Flows for the periods presented: Year Ended December 31, 2016 As Originally Reported Adjustment (A) As Previously Reported Adjustments (B) As Restated Net earnings $ 14,279,504 $ - $ 14,279,504 $ (2,090,877) $ 12,188,627 Provision for deferred and other income taxes 5,076,899 - 5,076,899 1,053,745 6,130,644 Loans originated for sale - - - (3,098,710,299) (3,098,710,299) Proceeds from loans sold - - - 3,246,127,714 3,246,127,714 Net gains on loans sold - - - (137,682,984) (137,682,984) Future life and other benefits 18,143,832 - 18,143,832 (154,237) 17,989,595 Receivables for mortgage loans sold 20,216,621 - 20,216,621 (20,216,621) - Other operating assets and liabilities (8,473,503) - (8,473,503) 3,348,127 (5,125,376) Net cash provided by (used in) operating activities 43,860,446 - 43,860,446 (8,325,432) 35,535,014 Net change in warehouse line borrowings - - 8,325,432 8,325,432 Net cash provided by financing activities 10,664,656 - 10,664,656 8,325,432 18,990,088 Year Ended December 31, 2015 As Originally Reported Adjustment (A) As Previously Reported Adjustments (B) As Restated Net earnings $ 12,622,880 $ 855,977 $ 13,478,857 $ (127,416) $ 13,351,441 Provision for deferred and other income taxes 4,909,927 - 4,909,927 (83,917) 4,826,010 Loans originated for sale - - - (2,861,404,239) (2,861,404,239) Proceeds from loans sold - - - 2,933,300,742 2,933,300,742 Net gains on loans sold - - - (131,130,447) (131,130,447) Future life and other benefits 15,232,634 - 15,232,634 (154,237) 15,078,397 Receivables for mortgage loans sold (47,752,055) - (47,752,055) 47,752,055 - Other operating assets and liabilities 4,890,770 - 4,890,770 (434,680) 4,456,090 Net cash provided by (used in) operating activities (15,831,248) - (15,831,248) (12,282,139) (28,113,387) Net change in warehouse line borrowings - - 12,282,139 12,282,139 Net cash provided by financing activities 9,656,561 - 9,656,561 12,282,139 21,938,700 Year Ended December 31, 2014 As Originally Reported Adjustment (A) As Previously Reported Adjustments (B) As Restated Net earnings $ 7,754,648 $ 269,585 $ 8,024,233 $ 192,599 $ 8,216,832 Provision for deferred and other income taxes 3,245,004 - 3,245,004 611,452 3,856,456 Loans originated for sale - - - (2,044,909,613) (2,044,909,613) Proceeds from loans sold - - - 2,102,740,825 2,102,740,825 Net gains on loans sold - - - (93,144,155) (93,144,155) Future life and other benefits 14,084,894 - 14,084,894 (154,237) 13,930,657 Receivables for mortgage loans sold 7,362,353 - 7,362,353 (7,362,353) - Other operating assets and liabilities (135,279) - (135,279) (1,453,885) (1,589,164) Net cash provided by (used in) operating activities 31,015,809 - 31,015,809 (43,479,367) (12,463,558) Net change in warehouse line borrowings - - 43,479,367 43,479,367 Net cash provided by financing activities 6,364,003 - 6,364,003 43,479,367 49,843,370

Note 22_ Impact of Restatement

Note 22: Impact of Restatement Adjustments on Quarterly Financial Statements (unaudited)	12 Months Ended
	Dec. 31, 2016
Notes
Note 22: Impact of Restatement Adjustments on Quarterly Financial Statements (unaudited)	22) Impact of Restatement Adjustments on Quarterly Financial Statements (Unaudited) 2016 (2) Three Months Ended March 31 (As Previously Reported) March 31 (As Restated) June 30 (As Previously Reported) June 30 (As Restated) September 30 (As Previously Reported) September 30 (As Restated) December 31 (As Previously Reported) December 31 (As Restated) Revenues $ 67,355,307 $ 69,456,348 $ 81,312,192 $ 80,087,227 $ 84,393,427 $ 82,948,657 $ 74,147,490 $ 71,842,669 Benefits and expenses 63,163,550 65,385,268 73,758,739 72,101,342 77,427,792 76,375,127 72,117,972 70,769,933 Earnings before income taxes 4,191,757 4,071,080 7,553,453 7,985,885 6,965,635 6,573,530 2,029,518 1,072,736 Income tax expense (1,580,220) (1,533,139) (2,456,885) (2,968,879) (2,190,206) (2,390,525) (233,548) (622,061) Net earnings 2,611,537 2,537,941 5,096,568 5,017,006 4,775,429 4,183,005 1,795,970 450,675 Net earnings per common share (1) $0.18 $0.17 $0.35 $0.34 $0.32 $0.28 $0.12 $0.03 Net earnings per common share assuming dilution (1) $0.17 $0.17 $0.34 $0.33 $0.31 $0.27 $0.12 $0.03 2015 (2) Three Months Ended March 31 (As Previously Reported) March 31 (As Restated) June 30 (As Previously Reported) June 30 (As Restated) September 30 (As Previously Reported) September 30 (As Restated) December 31 (As Previously Reported) December 31 (As Restated) Revenues $ 66,537,523 $ 65,824,546 $ 77,292,625 $ 75,187,618 $ 74,062,877 $ 74,985,622 $ 66,671,215 $ 64,357,046 Benefits and expenses 61,051,248 61,388,750 69,808,663 68,772,252 67,700,286 68,073,150 64,779,238 61,107,208 Earnings before income taxes 5,486,275 4,435,796 7,483,962 6,415,366 6,362,591 6,912,472 1,891,977 3,249,838 Income tax expense (2,104,958) (1,698,788) (2,867,957) (2,454,812) (2,346,210) (2,554,134) (426,823) (954,297) Net earnings 3,381,317 2,737,008 4,616,005 3,960,554 4,016,381 4,358,338 1,465,154 2,295,541 Net earnings per common share (1) $0.24 $0.19 $0.32 $0.27 $0.28 $0.30 $0.10 $0.16 Net earnings per common share assuming dilution (1) $0.23 $0.18 $0.31 $0.26 $0.26 $0.29 $0.10 $0.15 2014 (2) Three Months Ended March 31 (As Previously Reported) March 31 (As Restated) June 30 (As Previously Reported) June 30 (As Restated) September 30 (As Previously Reported) September 30 (As Restated) December 31 (As Previously Reported) December 31 (As Restated) Revenues $ 45,502,539 $ 45,843,231 $ 60,200,879 $ 58,408,816 $ 61,012,516 $ 60,515,415 $ 60,662,683 $ 60,279,687 Benefits and expenses 44,887,289 46,062,797 55,224,633 53,921,094 58,348,652 57,958,096 55,995,147 53,378,211 Earnings before income taxes 615,250 (219,566) 4,976,246 4,487,722 2,663,864 2,557,319 4,667,536 6,901,476 Income tax expense (202,352) 119,914 (1,870,803) (1,685,203) (961,140) (919,546) (1,864,368) (3,025,284) Net earnings 412,898 (99,652) 3,105,443 2,802,519 1,702,724 1,637,773 2,803,168 3,876,192 Net earnings per common share (1) $0.03 ($0.01) $0.22 $0.20 $0.12 $0.12 $0.20 $0.28 Net earnings per common share assuming dilution (1) $0.03 ($0.01) $0.22 $0.20 $0.12 $0.11 $0.19 $0.27 ____________ (1) Earnings per share amounts have been adjusted retroactively for the effect of annual stock dividends. (2) Earnings restated – See Note 21 of the Notes to Consolidated Financial Statements for additional information regarding correction of errors.

Note 1_ Significant Accountin30

Note 1: Significant Accounting Policies: General Overview of Business (Policies)	12 Months Ended
	Dec. 31, 2016
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 mortgages. 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 eight mortuaries and five cemeteries in Utah and one cemetery in California. The mortgage 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 Accountin31

Note 1: Significant Accounting Policies: Basis of Presentation (Policies)	12 Months Ended
	Dec. 31, 2016
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 (GAAP). The presentation of certain amounts in prior years has been reclassified to conform to the 2016 presentation.

Note 1_ Significant Accountin32

Note 1: Significant Accounting Policies: Principles of Consolidation (Policies)	12 Months Ended
	Dec. 31, 2016
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 Accountin33

Note 1: Significant Accounting Policies: Use of Estimates (Policies)	12 Months Ended
	Dec. 31, 2016
Policies
Use of Estimates	Use of Estimates Management of the Company has made a number of estimates and assumptions related to the reported amounts 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. Material estimates that are particularly susceptible to significant changes in the near term are those used in determining the value of derivative assets and liabilities, those used in determining deferred acquisition costs and the value of business acquired, those used in determining the value of mortgage loans foreclosed to real estate held for investment, those used in determining the liability for future policy benefits and unearned revenue, those used in determining the estimated future costs for pre-need sales, those used in determining the value of mortgage servicing rights, those used in determining allowances for loan losses for mortgage loans on real estate, those used in determining loan loss reserve, and those used in determining deferred tax assets and liabilities. Although some variability is inherent in these estimates, management believes the amounts provided are fairly stated in all material respects.

Note 1_ Significant Accountin34

Note 1: Significant Accounting Policies: Investments (Policies)	12 Months Ended
	Dec. 31, 2016
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. 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 for investment 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 additional collateral or 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. 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 loans and other investments 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. 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 Accountin35

Note 1: Significant Accounting Policies: Cash and Cash Equivalents (Policies)	12 Months Ended
	Dec. 31, 2016
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. 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 Accountin36

Note 1: Significant Accounting Policies: Loans Held For Sale (Policies)	12 Months Ended
	Dec. 31, 2016
Policies
Loans Held For Sale	Loans Held for Sale Loans held for sale are carried at the lower of cost or market and include the amounts due from third party investors. Loans held for sale are also shown net of direct selling revenues and costs. Based on the short-term nature of these assets, the Company has no related allowance for loan losses recorded for these assets.

Note 1_ Significant Accountin37

Note 1: Significant Accounting Policies: Restricted Assets (Policies)	12 Months Ended
	Dec. 31, 2016
Policies
Restricted Assets	Restricted Assets 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 certain real estate construction development projects. Additionally, the Company elected to fund its medical benefit safe-harbor limit based on 35 percent of the qualified direct costs for the preceding year, and has included this amount as a component of restricted cash.

Note 1_ Significant Accountin38

Note 1: Significant Accounting Policies: Cemetery Perpetual Care Trust Investments (Policies)	12 Months Ended
	Dec. 31, 2016
Policies
Cemetery Perpetual Care Trust Investments	Cemetery Perpetual Care Trust Investments Cemetery endowment care trusts have been set up for four of the six cemeteries owned by the Company. 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.

Note 1_ Significant Accountin39

Note 1: Significant Accounting Policies: Cemetery Land and Improvements (Policies)	12 Months Ended
	Dec. 31, 2016
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 Accountin40

Note 1: Significant Accounting Policies: Property and Equipment (Policies)	12 Months Ended
	Dec. 31, 2016
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 Accountin41

Note 1: Significant Accounting Policies: Recognition of Insurance Premiums and Other Considerations (Policies)	12 Months Ended
	Dec. 31, 2016
Policies
Recognition of Insurance Premiums and Other Considerations	Recognition of Insurance Premiums and Other Considerations Premiums

Note 1_ Significant Accountin42

Note 1: Significant Accounting Policies: Deferred Policy Acquisition Costs and Value of Business Acquired (Policies)	12 Months Ended
	Dec. 31, 2016
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 Accountin43

Note 1: Significant Accounting Policies: Mortgage Servicing Rights (Policies)	12 Months Ended
	Dec. 31, 2016
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 real estate owned 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. 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. Contractual servicing fees and late fees are included in other revenues on the Consolidated Statements of Earnings. Interest rate risk, prepayment risk, and default risk are inherent risks in MSR valuation. Interest rate changes largely drive prepayment rates. Refinance activity generally increases as rates decline. A significant decrease in rates beyond expectation could cause a decline in the value of the MSR. On the contrary, if rates increase borrowers are less likely to refinance or prepay their mortgage, which extends the duration of the loan and MSR values are likely to rise. Because of these risks, discount rates and prepayment speeds are used to estimate the fair value. 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 Accountin44

Note 1: Significant Accounting Policies: Derivative Instruments (Policies)	12 Months Ended
	Dec. 31, 2016
Policies
Derivative Instruments	Derivative Instruments Mortgage Banking Derivatives Loan Commitments The Company is exposed to price risk due to the potential impact of changes in interest rates on the values of loan commitments from the time a 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 loan commitments that will be exercised (i.e., the number of loans that will be funded) fluctuates. The probability that a loan will not be funded or the loan application is denied or withdrawn within the terms of the commitment is driven by a number of factors, particularly the change, if any, in mortgage rates following the issuance of the loan commitment. 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 loan commitments and are updated periodically to reflect the most current data. The Company estimates the fair value of a loan commitment based on the change in estimated fair value of the underlying mortgage loan, quoted MBS prices, estimates of the fair value of mortgage servicing rights, and an estimate of the probability that the mortgage loan will fund within the terms of the commitment net of estimated commission expense. The change in fair value of the underlying mortgage loan is measured from the date the loan commitment is issued and is shown net of expenses. Following issuance, the value of a loan commitment can be either positive or negative depending upon the change in value of the underlying mortgage loans. Forward Sale Commitments The Company utilizes forward commitments to economically hedge the price risk associated with its outstanding mortgage loan commitments. A forward commitment protects the Company from losses on sales of the loans arising from exercise of the loan commitments. Management expects these types of commitments will experience changes in fair value opposite to changes in fair value of the loan commitments, thereby reducing earnings volatility related to the recognition in earnings of changes in the values of the commitments. The net changes in fair value of all loan commitments and forward sale commitments are shown in current earnings as a component of mortgage fee income. Call and Put Options The Company uses 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 uses the strategy of selling 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 Accountin45

Note 1: Significant Accounting Policies: Allowance For Doubtful Accounts and Loan Losses and Impaired Loans (Policies)	12 Months Ended
	Dec. 31, 2016
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 Accountin46

Note 1: Significant Accounting Policies: Loan Loss Reserve (Policies)	12 Months Ended
	Dec. 31, 2016
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, which were believed to have met investor underwriting guidelines at the time of sale, 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 Accountin47

Note 1: Significant Accounting Policies: Future Life, Annuity and Other Policy Benefits (Policies)	12 Months Ended
	Dec. 31, 2016
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 Accountin48

Note 1: Significant Accounting Policies: Participating Insurance (Policies)	12 Months Ended
	Dec. 31, 2016
Policies
Participating Insurance	Participating Insurance Participating business constituted 2% of insurance in force for the years ended 2016, 2015 and 2014. 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 Accountin49

Note 1: Significant Accounting Policies: Reinsurance (Policies)	12 Months Ended
	Dec. 31, 2016
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 Accountin50

Note 1: Significant Accounting Policies: Pre-need Sales and Costs (Policies)	12 Months Ended
	Dec. 31, 2016
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 Accountin51

Note 1: Significant Accounting Policies: Mortgage Fee Income (Policies)	12 Months Ended
	Dec. 31, 2016
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 has determined that all three criteria are met at the time a loan is purchased from a third party investor. Until the loan is purchased, all direct selling revenues and costs are deferred. The Company, through its mortgage subsidiaries, sells 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 that was to be received from a third-party investor is written off against the loan loss reserve. 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 20% of the projected cash flow analysis and 80% 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 Accountin52

Note 1: Significant Accounting Policies: Goodwill (Policies)	12 Months Ended
	Dec. 31, 2016
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 Accountin53

Note 1: Significant Accounting Policies: Long-lived Assets (Policies)	12 Months Ended
	Dec. 31, 2016
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 Accountin54

Note 1: Significant Accounting Policies: Income Taxes (Policies)	12 Months Ended
	Dec. 31, 2016
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 Accountin55

Note 1: Significant Accounting Policies: Earnings Per Common Share (Policies)	12 Months Ended
	Dec. 31, 2016
Policies
Earnings Per Common Share	Earnings Per Common Share The Company computes earnings per share in accordance with GAAP 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 Accountin56

Note 1: Significant Accounting Policies: Stock Based Compensation (Policies)	12 Months Ended
	Dec. 31, 2016
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 Accountin57

Note 1: Significant Accounting Policies: Concentration of Credit Risk (Policies)	12 Months Ended
	Dec. 31, 2016
Policies
Concentration of Credit Risk	Concentration of Credit Risk For a description of the geographic concentration risk regarding mortgage loans and real estate, refer to Note 2 of the Notes to Consolidated Financial Statements.

Note 1_ Significant Accountin58

Note 1: Significant Accounting Policies: Advertising (Policies)	12 Months Ended
	Dec. 31, 2016
Policies
Advertising	Advertising The Company expenses advertising costs as incurred.

Note 1_ Significant Accountin59

Note 1: Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2016
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements ASU No. 2016-13: “Financial Instruments – Credit Losses (Topic 326)” – Issued in June 2016, ASU 2016-13 amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. For assets held at amortized cost basis, Topic 326 eliminates the probable initial recognition threshold in current generally accepted accounting principles (“GAAP”) and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available for sale debt securities, credit losses should be measured in a manner similar to current GAAP, however Topic 326 will require that credit losses be presented as an allowance rather than as a write-down. The new authoritative guidance is effective for interim and annual periods beginning after December 15, 2019. 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. 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. 2014-09: “Revenue from Contracts with Customers (Topic 606)” - Issued in May 2014, ASU 2014-09 supersedes the revenue recognition requirements in ASC Topic 605, “Revenue Recognition”, and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Insurance contracts are excluded from the scope of this new guidance. The new authoritative guidance is effective for interim and annual periods beginning after December 15, 2017. The Company is in the process of evaluating the potential impact of this standard, which is not expected to be material to the Company’s results of operations or financial position. The Company has reviewed other recent accounting pronouncements and has determined that they will not significantly impact the Company’s results of operations or financial position.

Note 2_ Investments_ Held-to-ma

Note 2: Investments: Held-to-maturity Securities (Tables)	12 Months Ended
	Dec. 31, 2016
AsOfDecember312016Member
Held-to-maturity Securities	Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2016 Fixed maturity securities held to maturity carried at amortized cost: U.S. Treasury securities and obligations of U.S. Government agencies $ 4,475,065 $ 249,028 $ (66,111) $ 4,657,982 Obligations of states and political subdivisions 6,017,225 153,514 (133,249) 6,037,490 Corporate securities including public utilities 164,375,636 10,440,989 (3,727,013) 171,089,612 Mortgage-backed securities 9,488,083 221,400 (280,871) 9,428,612 Redeemable preferred stock 623,635 13,418 - 637,053 Total fixed maturity securities held to maturity $ 184,979,644 $ 11,078,349 $ (4,207,244) $ 191,850,749 Equity securities available for sale at estimated fair value: Common stock: Industrial, miscellaneous and all other $ 10,985,338 $ 447,110 $ (859,092) $ 10,573,356 Total securities available for sale carried at estimated fair value $ 10,985,338 $ 447,110 $ (859,092) $ 10,573,356 Mortgage loans on real estate and construction loans held for investment at amortized cost: Residential $ 58,593,622 Residential construction 40,800,117 Commercial 51,536,622 Less: Allowance for loan losses (1,748,783) Total mortgage loans on real estate and construction loans held for investment $ 149,181,578 Real estate held for investment - net of depreciation $ 145,165,921 Policy loans and other investments are shown at amortized cost except for other investments that are shown at estimated fair value: Policy loans $ 6,694,148 Insurance assignments 33,548,079 Promissory notes 48,797 Other investments at estimated fair value 1,765,752 Less: Allowance for doubtful accounts (1,119,630) Total policy loans and other investments $ 40,937,146 Short-term investments at amortized cost $ 27,560,040
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 $ 213,684 $ (1,674,094) $ 8,431,090 Total securities available for sale carried at estimated fair value $ 9,891,500 $ 213,684 $ (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 loans and other investments are shown at amortized cost except for other investments that are shown at estimated fair value: Policy loans $ 6,896,457 Insurance assignments 32,369,014 Promissory notes 48,797 Other investments at estimated fair value 1,174,769 Less: Allowance for doubtful accounts (906,616) Total policy loans and other investments $ 39,582,421 Short-term investments at amortized cost $ 16,915,808

Note 2_ Investments_ Schedule o

Note 2: Investments: Schedule of Unrealized Loss on Investments (Tables)	12 Months Ended
	Dec. 31, 2016
Fixed Maturities | AsOfDecember312016Member
Schedule of Unrealized Loss on Investments	Unrealized Losses for Less than Twelve Months Fair Value Unrealized Losses for More than Twelve Months Fair Value Total Unrealized Loss Fair Value At December 31, 2016 U.S. Treasury Securities and Obligations of U.S. Government Agencies $ 66,111 $ 1,342,088 $ - $ - $ 66,111 $ 1,342,088 Obligations of States and Political Subdivisions 133,249 3,686,856 - - 133,249 3,686,856 Corporate Securities 1,728,312 41,796,016 1,998,701 12,969,135 3,727,013 54,765,151 Mortgage and other asset-backed securities 176,715 4,176,089 104,156 940,278 280,871 5,116,367 Total unrealized losses $ 2,104,387 $ 51,001,049 $ 2,102,857 $ 13,909,413 $ 4,207,244 $ 64,910,462
Fixed Maturities | AsOfDecember312015Member
Schedule of Unrealized Loss on Investments	Unrealized Losses for Less than Twelve Months Fair Value Unrealized Losses for More than Twelve Months Fair Value Total Unrealized Loss Fair Value At December 31, 2015 U.S. Treasury Securities and Obligations of U.S. Government Agencies $ 4,743 $ 2,191,782 $ - $ - $ 4,743 $ 2,191,782 Obligations of States and Political Subdivisions - - 1,040 86,388 1,040 86,388 Corporate Securities 3,701,572 30,109,114 1,800,171 3,723,569 5,501,743 33,832,683 Mortgage and other asset-backed securities 75,580 1,775,505 - - 75,580 1,775,505 Total unrealized losses $ 3,781,895 $ 34,076,401 $ 1,801,211 $ 3,809,957 $ 5,583,106 $ 37,886,358
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, 2016 Industrial, miscellaneous and all other $ 215,563 124 $ 643,529 104 $ 859,092 Total unrealized losses $ 215,563 124 $ 643,529 104 $ 859,092 Fair Value $ 2,063,144 $ 1,685,874 $ 3,749,018 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

Note 2_ Investments_ Investment

Note 2: Investments: Investments Classified by Contractual Maturity Date (Tables)	12 Months Ended
	Dec. 31, 2016
Held-to-maturity Securities
Investments Classified by Contractual Maturity Date	Amortized Estimated Fair Cost Value Held to Maturity: Due in 2017 $ 6,148,334 $ 6,232,674 Due in 2018 through 2021 42,886,637 44,879,897 Due in 2022 through 2026 42,090,383 43,288,035 Due after 2026 83,742,572 87,324,617 Mortgage-backed securities 9,488,083 9,488,473 Redeemable preferred stock 623,635 637,053 Total held to maturity $ 184,979,644 $ 191,850,749
Available-for-sale Securities
Investments Classified by Contractual Maturity Date	Estimated Fair Cost Value Available for Sale: Common stock $ 10,985,338 $ 10,573,356 Total available for sale $ 10,985,338 $ 10,573,356

Note 2_ Investments_ Gain (Loss

Note 2: Investments: Gain (Loss) on Investments (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Gain (Loss) on Investments	2016 2015 2014 Fixed maturity securities held to maturity: Gross realized gains $ 389,558 $ 387,162 $ 390,203 Gross realized losses (132,124) (82,166) (71,800) Other than temporary impairments (100,000) (120,000) (120,000) Securities available for sale: Gross realized gains 221,817 180,602 349,207 Gross realized losses (61,242) (66,850) (55,222) Other than temporary impairments (170,358) (293,714) (44,240) Other assets: Gross realized gains 349,252 2,067,438 1,445,596 Gross realized losses (943,648) (84,827) (139,808) Other than temporary impairments - (191,716) - Total $ (446,745) $ 1,795,929 $ 1,753,936

Note 2_ Investments_ Schedule64

Note 2: Investments: Schedule of Major categories of net investment income (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Major categories of net investment income	2016 2015 2014 Fixed maturity securities $ 8,972,877 $ 8,168,441 $ 8,229,451 Equity securities 270,942 269,795 212,917 Mortgage loans on real estate 8,963,105 7,696,533 7,550,110 Real estate 10,969,828 9,454,567 8,433,895 Policy loans 781,188 749,917 741,220 Insurance assignments 11,876,836 8,915,655 7,324,964 Other investments 25,122 6,533 - Short-term investments, principally gains on sale of mortgage loans 4,976,180 7,594,014 5,072,418 Gross investment income 46,836,078 42,855,455 37,564,975 Investment expenses (9,253,634) (8,847,551) (9,261,235) Net investment income $ 37,582,444 $ 34,007,904 $ 28,303,740

Note 2_ Investments_ Commercial

Note 2: Investments: Commercial Real Estate Investment (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Commercial Real Estate Investment	Net Ending Balance Total Square Footage December 31 December 31 2016 2015 2016 2015 Arizona $ 450,538 (1) $ 463,774 (1) 16,270 16,270 Arkansas 100,369 - 3,200 - Kansas 12,450,297 11,537,335 222,679 222,679 Louisiana 518,700 - 7,063 - Mississippi 3,818,985 - 33,821 - New Mexico 7,000 (1) 7,000 (1) - - Texas 3,734,974 3,768,542 23,470 23,470 Utah 47,893,073 (2) 17,403,746 433,244 253,244 $ 68,973,936 $ 33,180,397 739,747 515,663 (1) Includes Vacant Land (2) Includes 53rd Center to be completed in July 2017.

Note 2_ Investments_ Residentia

Note 2: Investments: Residential Real Estate Investment (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Residential Real Estate Investment	Net Ending Balance December 31 2016 2015 Arizona $ 742,259 $ 944,614 California 5,848,389 6,158,253 Colorado 364,489 553,230 Florida 8,327,355 9,203,624 Illinois - 165,800 Oklahoma 46,658 99,862 Oregon - 120,000 South Carolina - 823,872 Texas 1,091,188 1,198,860 Utah 59,485,466 62,117,738 Washington 286,181 286,182 $ 76,191,985 $ 81,672,035

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, 2016
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 2016 Allowance for credit losses: Beginning balance $ 187,129 $ 1,560,877 $ 100,114 $ 1,848,120 Charge-offs - (420,135) - (420,135) Provision - 320,798 - 320,798 Ending balance $ 187,129 $ 1,461,540 $ 100,114 $ 1,748,783 Ending balance: individually evaluated for impairment $ - $ 187,470 $ - $ 187,470 Ending balance: collectively evaluated for impairment $ 187,129 $ 1,274,070 $ 100,114 $ 1,561,313 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - Mortgage loans: Ending balance $ 51,536,622 $ 58,593,622 $ 40,800,117 $ 150,930,361 Ending balance: individually evaluated for impairment $ 202,992 $ 2,916,538 $ 64,895 $ 3,184,425 Ending balance: collectively evaluated for impairment $ 51,333,630 $ 55,677,084 $ 40,735,222 $ 147,745,936 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - 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 $ - $ - $ - $ -

Note 2_ Investments_ Schedule68

Note 2: Investments: Schedule of aging of mortgage loans (Tables)	12 Months Ended
	Dec. 31, 2016
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 Process of Foreclosure 1) Total Past Due Current Total Mortgage Loans Allowance for Loan Losses Net Mortgage Loans 2016 Commercial $ - $ - $ - $ 202,992 $ 202,992 $ 51,333,630 $ 51,536,622 $ (187,129) $ 51,349,493 Residential 964,960 996,779 1,290,355 1,626,183 4,878,277 53,715,345 58,593,622 (1,461,540) 57,132,082 Residential Construction - - 64,895 - 64,895 40,735,222 40,800,117 (100,114) 40,700,003 Total $ 964,960 $ 996,779 $ 1,355,250 $ 1,829,175 $ 5,146,164 $ 145,784,197 $ 150,930,361 $ (1,748,783) $ 149,181,578 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 1) There was not any interest income recognized on loans past due greater than 90 days or in foreclosure.

Note 2_ Investments_ Schedule69

Note 2: Investments: Schedule of Impaired Mortgage Loans (Tables)	12 Months Ended
	Dec. 31, 2016
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 2016 With no related allowance recorded: Commercial $ 202,992 $ 202,992 $ - $ 202,992 $ - Residential - - - - - Residential construction 64,895 64,895 - 64,895 - With an allowance recorded: Commercial $ - $ - $ - $ - $ - Residential 2,916,538 2,916,538 374,501 2,916,538 - Residential construction - - - - - Total: Commercial $ 202,992 $ 202,992 $ - $ 202,992 $ - Residential 2,916,538 2,916,538 374,501 2,916,538 - Residential construction 64,895 64,895 - 64,895 - 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 -

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, 2016
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 2016 2015 2016 2015 2016 2015 2016 2015 Performing $ 51,333,630 $ 33,522,978 $ 55,677,084 $ 40,720,336 $ 40,735,222 $ 34,693,393 $ 147,745,936 $ 108,936,707 Non-performing 202,992 - 2,916,538 5,300,154 64,895 158,164 3,184,425 5,458,318 Total $ 51,536,622 $ 33,522,978 $ 58,593,622 $ 46,020,490 $ 40,800,117 $ 34,851,557 $ 150,930,361 $ 114,395,025

Note 2_ Investments_ Schedule71

Note 2: Investments: Schedule of Mortgate loans on a nonaccrual status (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Mortgate loans on a nonaccrual status	Mortgage Loans on Non-accrual Status Years Ended December 31 2016 2015 Commercial $ 202,992 $ - Residential 2,916,538 5,300,154 Residential construction 64,895 158,164 Total $ 3,184,425 $ 5,458,318

Note 2_ Investments_ Schedule72

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, 2016
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 2017 2018-2021 Thereafter Residential $ 58,593,622 $ 6,115,360 $ 11,916,728 $ 40,561,534 Residential Construction 40,800,117 32,504,143 8,295,974 - Commercial 51,536,622 26,697,442 20,682,311 4,156,869 Total $ 150,930,361 $ 65,316,945 $ 40,895,013 $ 44,718,403

Note 2_ Investments_ Schedule73

Note 2: Investments: Schedule of loan loss reserve which is included in other liabilities and accrued expenses (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of loan loss reserve which is included in other liabilities and accrued expenses	December 31 2016 (As Restated) 2015 (As Restated) Balance, beginning of period $ 2,805,900 $ 1,718,150 Provision for current loan originations (1) 2,988,754 2,845,940 Additional provision for loan loss reserve 1700,000 3,449,103 Charge-offs and settlements (6,866,921) (5,207,293) Balance, at December 31 $ 627,733 $ 2,805,900 (1) Included in Mortgage fee income

Note 3_ Receivables_ Schedule o

Note 3: Receivables: Schedule of Receivables (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Receivables	Receivables consist of the following: December 31 2016 (As Restated) 2015 (As Restated) Trade contracts $ 3,482,175 $ 2,890,489 Receivables from sales agents 4,016,393 3,280,423 Held in Escrow – Southern Security 107,388 245,088 Other 1,122,890 1,345,690 Total receivables 8,728,846 7,761,690 Allowance for doubtful accounts (2,355,482) (1,700,696) Net receivables $ 6,373,364 $ 6,060,994

Note 4_ Value of Business Acq75

Note 4: Value of Business Acquired: Schedule of Value of Business Acquired (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Value of Business Acquired	December 31 2016 2015 Balance at beginning of year $ 8,743,773 $ 8,547,627 Value of business acquired - 1,473,272 Imputed interest at 7% 45,762 590,108 Amortization (1,219,235) (1,867,234) Net amortization charged to income (1,173,473) (1,277,126) Balance at end of year $ 7,570,300 $ 8,743,773

Note 4_ Value of Business Acq76

Note 4: Value of Business Acquired: Goodwill and Intangible Assets Disclosure (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Goodwill and Intangible Assets Disclosure	December 31 2016 2015 Balance at beginning of year $ 2,765,570 $ 2,765,570 Goodwill acquired - - Other - - 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, 2016
Tables/Schedules
Property, Plant and Equipment	December 31 2016 2015 Land and buildings $ 9,155,665 $ 13,126,195 Furniture and equipment 19,548,521 16,613,862 28,704,186 29,740,057 Less accumulated depreciation (19,912,664) (18,298,397) Total $ 8,791,522 $ 11,441,660

Note 6_ Bank and Other Loans 78

Note 6: Bank and Other Loans Payable: Summary of Bank Loans Payable (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Summary of Bank Loans Payable	December 31 2016 (As Restated) 2015 (As Restated) 1.65% above the monthly LIBOR rate (0.625% at December 31, 2016) note payable in monthly installments of $13,741 including principal and interest, collateralized by real property with a book value of approximately $498,000, due November 2017. $ 147,346 $ 312,240 Mark to market of interest rate swaps (discussed below) adjustment 3,308 13,947 6.50% note payable in monthly installments of $1,702 including principal and interest, collateralized by real property with a book value of approximately $278,000, due October 2041. 251,072 - 2.25% above the monthly LIBOR rate (0.625% at December 31, 2016) plus 1/16th of the monthly LIBOR rate note payable in monthly principal payments of $13,167 plus interest, collateralized by real property with a book value of approximately $4,564,000, due October 2021. 3,133,787 3,260,266 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. 1,093,349 2,062,512 4.27% note payable in monthly installments of $53,881 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due November 2021. 2,904,354 - 4.40% note payable in monthly installments of $46,825 including principal and interest, collateralized by real property with a book value of approximately $12,060,000, due January 2026. 7,927,526 8,135,438 4.329% note payable in monthly installments of $9,775 including principal and interest, collateralized by real property with a book value of approximately $3,048,000, due September 2025. 1,992,056 2,020,993 2.5% above the monthly LIBOR rate (0.625% at December 31, 2016) plus 1/16th of the monthly LIBOR rate construction loan payable, collateralized by real property with a book value of approximately $31,835,000, due August 2019. 8,777,941 - 2.60% above 90 day LIBOR rate (0.99789% at December 31, 2016) note payable in monthly installments of approximately $123,800, collateralized by real property with a book value of approximately $35,798,000, due October 2019. 27,377,114 24,933,346 1 month LIBOR rate (0.625% at December 31, 2016) plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures June 2018 76,843,180 61,302,069 1 month LIBOR rate (0.625% at December 31, 2016) plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures September 2017 21,578,951 28,794,630 Other collateralized bank loans payable 109,734 169,212 Other notes payable 961 961 Total bank and other loans 152,140,679 131,005,614 Less current installments 101,177,574 119,734,751 Bank and other loans, excluding current installments $ 50,963,105 $ 11,270,863

Note 6_ Bank and Other Loans 79

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, 2016
Tables/Schedules
Schedule of combined maturities of bank loans payable, lines of credit and notes and contracts payable	2017 $ 101,177,574 2018 1,539,638 2019 36,128,905 2020 1,066,254 2021 3,436,591 Thereafter 8,791,717 Total $ 152,140,679

Note 7_ Cemetery and Mortuary80

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, 2016
Tables/Schedules
Schedule of the components of the cemetery perpetual care obligation	December 31 2016 2015 Trust investments, at market value $ 4,131,885 $ 2,848,759 Note receivables from Cottonwood Mortuary Singing Hills Cemetery and Memorial Estates eliminated in consolidation 1,725,714 1,780,618 Total trust assets 5,857,599 4,629,377 Cemetery perpetual care obligation (3,598,580) (3,465,771) Fair value of trust assets in excess of trust obligations $ 2,259,019 $ 1,163,606

Note 7_ Cemetery and Mortuary81

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, 2016
Tables/Schedules
Schedule of Restricted Assets in Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds	December 31 2016 2015 Cash and cash equivalents $ 8,070,972 $ 7,206,863 Mutual funds 645,241 596,994 Fixed maturity securities 8,775 8,775 Equity securities 91,362 89,450 Participating in mortgage loans with Security National Life 1,575,044 1,457,720 Total $ 10,391,394 $ 9,359,802

Note 8_ Income Taxes_ Summary o

Note 8: Income Taxes: Summary of Income Tax Liability (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Summary of Income Tax Liability	December 31 2016 (As Restated) 2015 (As Restated) Current $ (1,511,762) $ (215,366) Deferred 25,830,631 20,628,255 Total $ 24,318,869 $ 20,412,889

Note 8_ Income Taxes_ Schedule

Note 8: Income Taxes: Schedule of components of Deferred Tax Liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of components of Deferred Tax Liabilities	December 31 2016 (As Restated) 2015 (As Restated) Assets Future policy benefits $ (9,719,058) $ (7,551,336) Loan loss reserve (288,590) (1,163,700) Unearned premium (1,519,722) (1,610,684) Available for sale securities (51,266) (150,984) Net operating loss (1,531,160) (588,537) Deferred compensation (2,225,208) (1,994,927) Deposit obligations (1,033,580) (1,026,984) Other (3,384,144) (3,694,959) Less: Valuation allowance 431,802 - Total deferred tax assets (19,320,926) (17,782,111) Liabilities Deferred policy acquisition costs 18,150,517 14,838,604 Basis difference in property and equipment 10,749,036 9,375,146 Value of business acquired 2,573,902 2,972,883 Deferred gains 9,290,123 6,902,888 Trusts 1,599,657 1,599,657 Tax on unrealized appreciation 2,788,322 2,721,188 Total deferred tax liabilities 45,151,557 38,410,366 Net deferred tax liability $ 25,830,631 $ 20,628,255

Note 8_ Income Taxes_ Schedul84

Note 8: Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Components of Income Tax Expense (Benefit)	2016 (As Restated) 2015 (As Restated) 2014 (As Restated) Current Federal $ 1,138,196 $ 2,423,846 $ 1,532,539 State 245,764 412,175 121,124 1,383,960 2,836,021 1,653,663 Deferred Federal 5,686,651 4,413,336 3,406,545 State 443,993 412,674 449,911 6,130,644 4,826,010 3,856,456 Total $ 7,514,604 $ 7,662,031 $ 5,510,119

Note 8_ Income Taxes_ Schedul85

Note 8: Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Effective Income Tax Rate Reconciliation	2016 (As Restated) 2015 (As Restated) 2014 (As Restated) Computed expense at statutory rate $ 6,699,099 $ 7,144,580 $ 4,667,165 State tax expense, net of federal tax benefit 455,240 544,400 376,883 Change in valuation allowance 431,802 - - Other, net (71,537) (26,949) 466,071 Tax expense $ 7,514,604 $ 7,662,031 $ 5,510,119

Note 9_ Reinsurance, Commitme86

Note 9: Reinsurance, Commitments and Contingencies: Schedule of Future Minimum Rental Payments for Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Future Minimum Rental Payments for Operating Leases	Years Ending December 31 2017 $ 6,556,093 2018 4,121,399 2019 2,583,941 2020 1,151,873 2021 496,713 Total $ 14,910,019

Note 11_ Capital Stock_ Schedul

Note 11: Capital Stock: Schedule of Activity in shares of capital stock (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Activity in shares of capital stock	Class A Class C (1) 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 Exercise of stock options 42,634 104,975 Stock dividends 657,919 96,967 Conversion of Class C to Class A 9,353 (9,353) Balance at December 31, 2016 13,819,006 1,902,229 (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.

Note 11_ Capital Stock_ Sched88

Note 11: Capital Stock: Schedule of Basic and diluted earnings per share (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Basic and diluted earnings per share	2016 (As Restated) 2015 (As Restated) 2014 (As Restated) Numerator: Net earnings $ 12,188,627 $ 13,351,441 $ 8,216,832 Denominator: Denominator for basic earnings per share-weighted-average shares 14,806,290 14,439,274 13,893,260 Effect of dilutive securities Employee stock options 320,914 512,559 451,215 Dilutive potential common shares 320,914 512,559 451,215 Denominator for diluted earnings per share-adjusted weighted-average shares and assumed conversions 15,127,204 14,951,833 14,344,475 Basic earnings per share $0.82 $0.92 $0.59 Diluted earnings per share $0.81 $0.89 $0.57

Note 12_ Stock Compensation P89

Note 12: Stock Compensation Plans: Schedule of Activity of the 2003 Plan (Tables)	12 Months Ended
	Dec. 31, 2016
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, 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 Adjustment for the effect of stock dividends 35,346 26,491 Granted 133,500 80,000 Exercised (42,634) (127,629) Cancelled (2,500) - Outstanding at December 31, 2016 741,973 $ 4.33 556,298 $ 4.52 Exercisable at end of year 601,731 $ 3.78 472,298 $ 4.02 Available options for future grant 253,432 - Weighted average contractual term of options outstanding at December 31, 2016 7.37 years 2.67 years Weighted average contractual term of options exercisable at December 31, 2016 6.77 years 2.27 years Aggregated intrinsic value of options outstanding at December 31, 2016 (1) $1,452,902 $1,079,136 Aggregated intrinsic value of options exercisable at December 31, 2016 (1) $1,452,574 $1,079,136 (1) The Company used a stock price of $6.19 as of December 31, 2016 to derive intrinsic value.

Note 13_ Statutory Financial 90

Note 13: Statutory Financial Information and Dividend Limitations: Schedule of statutory accounting practices (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of statutory accounting practices	Net Income Capital and Surplus 2016 2015 2014 2016 2015 Amounts by insurance subsidiary: Security National Life Insurance Company $ 2,601,408 $ 3,478,338 $ 5,137,208 $ 36,789,358 $ 32,771,066 First Guaranty Insurance Company 174,562 - - 4,091,847 - Memorial Insurance Company of America 460 49 415 1,081,319 1,082,059 Southern Security Life Insurance Company, Inc. 889 491 467 1,592,440 1,590,605 Trans-Western Life Insurance Company 1,203 (52) 1,304 500,333 499,130 Total $ 2,778,522 $ 3,478,826 $ 5,139,394 $ 44,055,297 $ 35,942,860

Note 14_ Business Segment Inf91

Note 14: Business Segment Information: Schedule of Segment Reporting Information, by Segment (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Segment Reporting Information, by Segment	2016 (As Restated) Life Cemetery/ Intercompany Insurance Mortuary Mortgage Eliminations Consolidated Revenues: From external sources: Revenue from customers $ 66,902,126 $ 12,267,640 $ 181,141,687 $ - $ 260,311,453 Net investment income 28,618,485 312,494 8,651,465 - 37,582,444 Realized gains (losses) on investments and other assets (277,040) 211,429 (110,776) - (176,387) Other than temporary impairments (270,358) - - - (270,358) Other revenues 632,260 88,676 6,166,813 - 6,887,749 Intersegment revenues: Net investment income 7,119,692 691,876 327,778 (8,139,346) - Total revenues 102,725,165 13,572,115 196,176,967 (8,139,346) 304,334,901 Expenses: Death and other policy benefits 33,387,380 - - - 33,387,380 Increase in future policy benefits 21,322,195 - - - 21,322,195 Amortization of deferred policy and preneed acquisition costs and value of business acquired 7,647,097 356,078 - - 8,003,175 Depreciation 596,827 390,362 1,195,535 - 2,182,724 General, administrative and other costs: Intersegment - 148,025 219,974 (367,999) - Provision for loan losses - - 1,700,000 - 1,700,000 Costs related to funding mortgage loans - - 9,191,488 - 9,191,488 Other 29,478,156 10,524,535 163,730,148 1 203,732,840 Interest expense: Intersegment 781,078 651,046 6,339,224 (7,771,348) - Other 1,654,264 282,878 3,174,726 - 5,111,868 Total benefits and expenses 94,866,997 12,352,924 185,551,095 (8,139,346) 284,631,670 Earnings before income taxes $ 7,858,168 $ 1,219,191 $ 10,625,872 $ - $ 19,703,231 Income tax expense (3,451,292) - (4,063,312) - (7,514,604) Net earnings $ 4,406,876 $ 1,219,191 $ 6,562,560 $ - $ 12,188,627 Identifiable assets $ 821,097,220 $ 99,611,263 $ 171,844,559 $ (140,874,459) $ 951,678,583 Goodwill $ 2,765,570 $ - $ - $ - $ 2,765,570 Expenditures for long-lived assets $ 532,958 $ 723,445 $ 2,310,108 $ - $ 3,566,511 2015 (As Restated) Life Cemetery/ Intercompany Insurance Mortuary Mortgage Eliminations Consolidated Revenues: From external sources: Revenue from customers $ 58,883,721 $ 11,502,045 $ 169,043,426 $ - $ 239,429,192 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 13,642,226 181,269,900 (9,097,340) 280,354,832 Expenses: Death and other policy benefits 33,549,893 - - - 33,549,893 Increase in future policy benefits 17,057,764 - - - 17,057,764 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 - - 3,449,103 - 3,449,103 Costs related to funding mortgage loans - - 8,901,511 - 8,901,511 Other 27,416,860 10,117,012 146,565,817 (1) 184,099,688 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 85,920,810 12,728,667 169,789,223 (9,097,340) 259,341,360 Earnings before income taxes $ 8,619,236 $ 913,559 $ 11,480,677 $ - $ 21,013,472 Income tax expense (3,191,370) - (4,470,661) - (7,662,031) Net earnings $ 5,427,866 $ 913,559 $ 7,010,016 $ - $ 13,351,441 Identifiable assets $ 721,362,741 $ 101,935,898 $ 157,283,191 $ (140,108,664) $ 840,473,166 Goodwill $ 2,765,570 $ - $ - $ - $ 2,765,570 Expenditures for long-lived assets $ 3,024,223 $ 154,226 $ 454,241 $ - $ 3,632,690 2014 (As Restated) Life Cemetery/ Intercompany Insurance Mortuary Mortgage Eliminations Consolidated Revenues: From external sources: Revenue from customers $ 57,037,623 $ 11,426,308 $ 122,778,529 $ - $ 191,242,460 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 13,745,495 131,460,445 (8,060,125) 225,047,149 Expenses: Death and other policy benefits 29,789,964 - - - 29,789,964 Increase in future policy benefits 17,905,914 - - - 17,905,914 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 - - 1,000,000 - 1,000,000 Costs related to funding mortgage loans - - 6,451,319 - 6,451,319 Other 23,045,928 10,245,144 110,817,359 (2) 144,108,429 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 79,275,342 13,082,239 127,022,742 (8,060,125) 211,320,198 Earnings before income taxes $ 8,625,992 $ 663,256 $ 4,437,703 $ - $ 13,726,951 Income tax expense (3,796,327) - (1,713,792) - (5,510,119) Net earnings $ 4,829,665 $ 663,256 $ 2,723,911 $ - $ 8,216,832 Identifiable assets $ 652,348,803 $ 109,114,226 $ 130,972,484 $ (142,742,671) $ 749,692,842 Goodwill $ 2,765,570 $ - $ - $ - $ 2,765,570 Expenditures for long-lived assets $ 660,830 $ 121,677 $ 737,936 $ - $ 1,520,443

Note 16_ Fair Value of Financ92

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, 2016
AsOfDecember312016Member
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 $ 10,573,356 $ 10,573,356 $ - $ - Total securities available for sale 10,573,356 10,573,356 - - Restricted assets of cemeteries and mortuaries 736,603 736,603 - - Cemetery perpetual care trust investments 698,202 698,202 - - Derivatives - loan commitments 6,911,544 - - 6,911,544 Other investments 1,765,752 - - 1,765,752 Total assets accounted for at fair value on a recurring basis $ 20,685,457 $ 12,008,161 $ - $ 8,677,296 Liabilities accounted for at fair value on a recurring basis Policyholder account balances $ (49,421,125) $ - $ - $ (49,421,125) Future policy benefits - annuities (99,388,662) - - (99,388,662) Derivatives - bank loan interest rate swaps (3,308) - - (3,308) - call options (109,474) (109,474) - - - put options (26,494) (26,494) - - - loan commitments (102,212) - - (102,212) Total liabilities accounted for at fair value on a recurring basis $ (149,051,275) $ (135,968) $ - $ (148,915,307)
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 Non-redeemable preferred stock 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 - loan commitments 7,779,162 - - 7,779,162 Other investments 1,174,769 - - 1,174,769 Total assets accounted for at fair value on a recurring basis $ 18,702,319 $ 9,748,388 $ - $ 8,953,931 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) - - - loan commitments (107,667) - - (107,667) Total liabilities accounted for at fair value on a recurring basis $ (120,260,355) $ (45,171) $ - $ (120,215,184)

Note 16_ Fair Value of Financ93

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, 2016
AsOfDecember312016Member
Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs	Policyholder Account Balances Future Policy Benefits - Annuities Loan Commitments Bank Loan Interest Rate Swaps Other Investments Balance - December 31, 2015, as restated $ (50,694,953) $ (69,398,617) $ 7,671,495 $ (13,947) $ 1,174,769 Purchases (30,294,480) 600,000 Total Losses (Gains): Included in earnings 1,273,828 304,435 (862,163) - Included in other comprehensive income (loss) - - - 10,639 (9,017) Balance - December 31, 2016, as restated $ (49,421,125) $ (99,388,662) $ 6,809,332 $ (3,308) $ 1,765,752
AsOfDecember312015Member
Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs	Policyholder Account Balances Future Policy Benefits - Annuities Loan Commitments Bank Loan Interest Rate Swaps Other Investments Balance - December 31, 2014, as restated $ (45,310,699) $ (65,540,985) $ 5,105,605 $ (31,370) $ - Purchases 1,200,000 Total Losses (Gains): Included in earnings (5,384,254) (3,857,632) 2,565,890 - Included in other comprehensive income (loss) - - - 17,423 (25,231) Balance - December 31, 2015, as restated $ (50,694,953) $ (69,398,617) $ 7,671,495 $ (13,947) $ 1,174,769

Note 16_ Fair Value of Financ94

Note 16: Fair Value of Financial Instruments: Fair Value Assets Measured on a Nonrecurring Basis (Tables)	12 Months Ended
	Dec. 31, 2016
AsOfDecember312016Member
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 loans on real estate $ 2,809,925 $ - $ - $ 2,809,925 Mortgage servicing rights 8,603,154 - - 8,603,154 Real estate held for investment 2,347,820 - - 2,347,820 Total assets accounted for at fair value on a nonrecurring basis $ 13,760,899 $ - $ - $ 13,760,899
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 loans on real estate $ 2,874,468 $ 2,874,468 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 $ 9,187,019 $ - $ - $ 9,187,019

Note 16_ Fair Value of Financ95

Note 16: Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables)	12 Months Ended
	Dec. 31, 2016
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 Fixed maturity securities, held to maturity $ 184,979,644 $ - $ 191,850,749 $ - $ 191,850,749 Mortgage loans: Residential 57,132,082 - - 61,357,393 61,357,393 Residential construction 40,700,003 - - 40,700,003 40,700,003 Commercial 51,349,493 - - 53,299,800 53,299,800 Mortgage loans, net $ 149,181,578 $ - $ - $ 155,357,196 $ 155,357,196 Loans held for sale 189,139,832 - - 192,289,854 192,289,854 Policy loans 6,694,148 - - 6,694,148 6,694,148 Insurance assignments, net 32,477,246 - - 32,477,246 32,477,246 Short-term investments 27,560,040 - - 27,560,040 27,560,040 Mortgage servicing rights 18,872,362 - - 25,496,832 25,496,832 Liabilities Bank and other loans payable $ (152,137,341) $ - $ - $ (152,137,341) $ (152,137,341) 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, as restated: Carrying Value Level 1 Level 2 Level 3 Total Estimated Fair Value Assets Fixed maturity securities, held to maturity $ 145,558,425 $ - $ 150,507,158 $ - $ 150,507,158 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 Loans held for sale $ 112,546,905 $ - $ - $ 116,723,529 $ 116,723,529 Mortgage loans, net 211,453,006 $ 217,646,189 217,646,189 Policy loans 6,896,457 - - 6,896,457 6,896,457 Insurance assignments, net 31,511,195 - - 31,511,195 31,511,195 Short-term investments 16,915,808 - - 16,915,808 16,915,808 Mortgage servicing rights 12,679,755 - - 13,897,160 13,897,160 Liabilities Bank and other loans payable $ (130,991,667) $ - $ - $ (130,991,667) $ (130,991,667)

Note 17_ Accumulated Other Co96

Note 17: Accumulated Other Comprehensive Income: Schedule of Changes in accumulated other comprehensive income (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Changes in accumulated other comprehensive income	December 31 2016 2015 Unrealized gains (losses) on available for-sale securities $ 996,343 $ (1,289,508) Reclassification adjustment for net realized gains in net income 160,575 113,751 Net unrealized gains (losses) before taxes 1,156,918 (1,175,757) Tax (expense) benefit (399,228) 404,414 Net 757,690 (771,343) Potential unrealized gains for derivative bank loans (interest rate swaps) before taxes 10,639 17,423 Tax expense (4,149) (6,795) Net 6,490 10,628 Other comprehensive income (loss) changes $ 764,180 $ (760,715)

Note 17_ Accumulated Other Co97

Note 17: Accumulated Other Comprehensive Income: Accumulated Balances of Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2016
AsOfDecember312016Member
Accumulated Balances of Other Comprehensive Income	Beginning Balance December 31, 2015 Change for the period Ending Balance December 31, 2016 Unrealized net gains (losses) on available-for-sale securities and trust investments $ (490,850) $ 757,690 $ 266,840 Unrealized gains (losses) on derivative bank loan interest rate swaps (8,508) 6,490 (2,018) Other comprehensive income (loss) $ (499,358) $ 764,180 $ 264,822
AsOfDecember312015Member
Accumulated Balances of Other Comprehensive Income	Beginning Balance December 31, 2014 Change for the period Ending Balance December 31, 2015 Unrealized net gains (losses) on available-for-sale securities and trust investments $ 280,493 $ (771,343) $ (490,850) Unrealized gains (losses) on derivative bank loan interest rate swaps (19,136) 10,628 (8,508) Other comprehensive income (loss) $ 261,357 $ (760,715) $ (499,358)
AsOfDecember312014Member
Accumulated Balances of Other Comprehensive Income	Beginning Balance December 31, 2013 Change for the period Ending Balance December 31, 2014 Unrealized net gains (losses) on available-for-sale securities and trust investments $ 346,341 $ (65,848) $ 280,493 Unrealized gains (losses) on derivative bank loan interest rate swaps (35,569) 16,433 (19,136) Other comprehensive income (loss) $ 310,772 $ (49,415) $ 261,357

Note 18_ Derivative Instrumen98

Note 18: Derivative Instruments: Schedule of Derivative Assets at Fair Value (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Derivative Assets at Fair Value	Fair Value of Derivative Instruments Asset Derivatives Liability Derivatives December 31, 2016 (As Restated) December 31, 2015 (As Restated) December 31, 2016 December 31, 2015 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: Loan commitments other assets $6,911,544 other assets $ 7,779,162 Other liabilities $102,212 Other liabilities $107,667 Call Options - - Other liabilities 109,474 Other liabilities 16,342 Put Options - - Other liabilities 26,494 Other liabilities 28,829 Interest rate swaps - - Bank loans payable 3,308 Bank loans payable 13,947 Total $6,911,544 $ 7,779,162 $241,488 $166,785

Note 18_ Derivative Instrumen99

Note 18: Derivative Instruments: Schedule of Gains and Losses on Derivatives (Tables)	12 Months Ended
	Dec. 31, 2016
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: 2016 2015 Interest Rate Swaps $ 10,639 $ 17,423 Sub Total 10,639 17,423 Tax Effect 4,149 6,795 Total $ 6,490 $ 10,628

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, 2016
First Guaranty Insurance Company
The Estimated Fair Values of The Assets Acquired and The Liabilities Assumed At The Date of Acquisition	Fixed maturity securities, held to maturity $ 43,878,084 Equity securities, available for sale 646,335 Mortgage loans on real estate 4,528,582 Real estate held for investment 528,947 Policy loans 145,953 Short-term investments 5,358,403 Accrued investment income 585,985 Cash and cash equivalents 2,424,480 Receivables 73,347 Property and equipment 21,083 Deferred tax asset 1,190,862 Receivable from reinsurers 34,948 Other 57,768 Total assets acquired 59,474,777 Future life, annuity, and other benefits (52,648,838) Accounts payable (6,953) Other liabilities and accrued expenses (65,986) Total liabilities assumed (52,721,777) Fair value of net assets acquired/consideration paid $ 6,753,000
American Funeral Financial
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_ Business

Note 19: Acquisitions: Business Acquisition, Pro Forma Information (Tables)	12 Months Ended
	Dec. 31, 2016
First Guaranty Insurance Company
Business Acquisition, Pro Forma Information	For the Year Ended December 31 (unaudited) 2016 (As Restated) 2015 (As Restated) 2014 (As Restated) Total revenues $ 306,471,770 $ 284,812,830 $ 229,483,646 Net earnings $ 11,923,653 $ 12,627,709 $ 8,044,482 Net earnings per Class A equivalent common share $ 0.95 $ 0.88 $ 0.57 Net earnings per Class A equivalent common share assuming dilution $ 0.93 $ 0.85 $ 0.55
American Funeral Financial
Business Acquisition, Pro Forma Information	For the Year Ended December 31 (unaudited) 2016 (As Restated) 2015 (As Restated) 2014 (As Restated) Total revenues $ 304,334,901 $ 280,354,832 $ 227,379,128 Net earnings $ 12,188,627 $ 13,351,441 $ 8,458,589 Net earnings per Class A equivalent common share $ 0.96 $ 0.93 $ 0.59 Net earnings per Class A equivalent common share assuming dilution $ 0.94 $ 0.90 $ 0.58

Note 20_ Mortgage Servicing 102

Note 20: Mortgage Servicing Rights: Schedule of mortgage servicing rights (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of mortgage servicing rights	December 31 2016 2015 Amortized cost: Balance before valuation allowance at beginning of year $ 12,679,755 $ 7,834,747 MSRs received as proceeds from loan sales 8,603,154 6,217,551 Amortization (2,410,547) (1,372,543) Application of valuation allowance to write down MSRs with other than temporary impairment - - Balance before valuation allowance at year end $ 18,872,362 $ 12,679,755 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 $ 18,872,362 $ 12,679,755 Estimated fair value of MSRs at year end $ 25,496,832 $ 13,897,160

Note 20_ Mortgage Servicing 103

Note 20: Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights Amortization (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Mortgage Servicing Rights Amortization	Estimated MSR Amortization 2017 $ 2,696,052 2018 2,696,052 2019 2,696,052 2020 2,696,052 2021 2,696,052 Thereafter 5,392,104 Total $ 18,872,364

Note 20_ Mortgage Servicing 104

Note 20: Mortgage Servicing Rights: Schedule of Other Revenues (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Other Revenues	2016 2015 2014 Contractual servicing fees $ 5,661,699 $ 3,864,454 $ 2,641,234 Late fees 203,509 120,241 123,399 Total $ 5,865,207 $ 3,984,695 $ 2,764,633

Note 20_ Mortgage Servicing 105

Note 20: Mortgage Servicing Rights: Summary of Unpaid Principal Balances of the Servicing Portfolio (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Summary of Unpaid Principal Balances of the Servicing Portfolio	Years Ended December 31 2016 2015 2014 Servicing UPB 2,720,441,340 1,861,835,430 1,227,249,143

Note 20_ Mortgage Servicing 106

Note 20: Mortgage Servicing Rights: Assumptions used in determining MSR value (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Assumptions used in determining MSR value	Prepayment Speeds Average Life(Years) Discount Rate December 31, 2016 3.77% 6.52 10.01 December 31, 2015 3.02% 5.24 10.00 December 31, 2014 2.87% 4.96 10.00

Note 22_ Impact of Restateme107

Note 22: Impact of Restatement Adjustments on Quarterly Financial Statements (unaudited): Schedule of Quarterly Financial Information (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Quarterly Financial Information	2016 (2) Three Months Ended March 31 (As Previously Reported) March 31 (As Restated) June 30 (As Previously Reported) June 30 (As Restated) September 30 (As Previously Reported) September 30 (As Restated) December 31 (As Previously Reported) December 31 (As Restated) Revenues $ 67,355,307 $ 69,456,348 $ 81,312,192 $ 80,087,227 $ 84,393,427 $ 82,948,657 $ 74,147,490 $ 71,842,669 Benefits and expenses 63,163,550 65,385,268 73,758,739 72,101,342 77,427,792 76,375,127 72,117,972 70,769,933 Earnings before income taxes 4,191,757 4,071,080 7,553,453 7,985,885 6,965,635 6,573,530 2,029,518 1,072,736 Income tax expense (1,580,220) (1,533,139) (2,456,885) (2,968,879) (2,190,206) (2,390,525) (233,548) (622,061) Net earnings 2,611,537 2,537,941 5,096,568 5,017,006 4,775,429 4,183,005 1,795,970 450,675 Net earnings per common share (1) $0.18 $0.17 $0.35 $0.34 $0.32 $0.28 $0.12 $0.03 Net earnings per common share assuming dilution (1) $0.17 $0.17 $0.34 $0.33 $0.31 $0.27 $0.12 $0.03 2015 (2) Three Months Ended March 31 (As Previously Reported) March 31 (As Restated) June 30 (As Previously Reported) June 30 (As Restated) September 30 (As Previously Reported) September 30 (As Restated) December 31 (As Previously Reported) December 31 (As Restated) Revenues $ 66,537,523 $ 65,824,546 $ 77,292,625 $ 75,187,618 $ 74,062,877 $ 74,985,622 $ 66,671,215 $ 64,357,046 Benefits and expenses 61,051,248 61,388,750 69,808,663 68,772,252 67,700,286 68,073,150 64,779,238 61,107,208 Earnings before income taxes 5,486,275 4,435,796 7,483,962 6,415,366 6,362,591 6,912,472 1,891,977 3,249,838 Income tax expense (2,104,958) (1,698,788) (2,867,957) (2,454,812) (2,346,210) (2,554,134) (426,823) (954,297) Net earnings 3,381,317 2,737,008 4,616,005 3,960,554 4,016,381 4,358,338 1,465,154 2,295,541 Net earnings per common share (1) $0.24 $0.19 $0.32 $0.27 $0.28 $0.30 $0.10 $0.16 Net earnings per common share assuming dilution (1) $0.23 $0.18 $0.31 $0.26 $0.26 $0.29 $0.10 $0.15 2014 (2) Three Months Ended March 31 (As Previously Reported) March 31 (As Restated) June 30 (As Previously Reported) June 30 (As Restated) September 30 (As Previously Reported) September 30 (As Restated) December 31 (As Previously Reported) December 31 (As Restated) Revenues $ 45,502,539 $ 45,843,231 $ 60,200,879 $ 58,408,816 $ 61,012,516 $ 60,515,415 $ 60,662,683 $ 60,279,687 Benefits and expenses 44,887,289 46,062,797 55,224,633 53,921,094 58,348,652 57,958,096 55,995,147 53,378,211 Earnings before income taxes 615,250 (219,566) 4,976,246 4,487,722 2,663,864 2,557,319 4,667,536 6,901,476 Income tax expense (202,352) 119,914 (1,870,803) (1,685,203) (961,140) (919,546) (1,864,368) (3,025,284) Net earnings 412,898 (99,652) 3,105,443 2,802,519 1,702,724 1,637,773 2,803,168 3,876,192 Net earnings per common share (1) $0.03 ($0.01) $0.22 $0.20 $0.12 $0.12 $0.20 $0.28 Net earnings per common share assuming dilution (1) $0.03 ($0.01) $0.22 $0.20 $0.12 $0.11 $0.19 $0.27

Note 2_ Investments_ Held-to108

Note 2: Investments: Held-to-maturity Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
HeldToMaturitySecuritiesEstimatedFairValue	$ 191,850,749	$ 150,507,158
AmortizedCost	184,979,644	145,558,425
Held-to-maturity Securities, Unrecognized Holding Gain	11,078,349	10,531,839
Held-to-maturity Securities, Unrecognized Holding Loss	(4,207,244)	(5,583,106)
Mortgage loans on real estate and construction	149,181,578	112,546,905
Mortgage loans on real estate and construction, allowance for losses	(1,748,783)	(1,848,120)
Real estate held for investment, net of depreciation	145,165,921	114,852,432
Policy loans	6,694,148	6,896,457
Insurance assignments	33,548,079	32,369,014
Promissory notes	48,797	48,797
Other investments at estimated fair value	1,765,752	1,174,769
Allowance for doubtful accounts	(1,119,630)	(906,616)
Policy loans and other investments	40,937,146	39,582,421
Short-term investments at amortized cost	27,560,040	16,915,808
Residential Mortgage
Mortgage loans on real estate and construction	58,593,622	46,020,490
Residential Construction
Mortgage loans on real estate and construction	40,800,117	34,851,557
Commercial Loan
Mortgage loans on real estate and construction	51,536,622	33,522,978
US Treasury and Government
HeldToMaturitySecuritiesEstimatedFairValue	4,657,982	3,848,705
AmortizedCost	4,475,065	3,560,579
Held-to-maturity Securities, Unrecognized Holding Gain	249,028	292,869
Held-to-maturity Securities, Unrecognized Holding Loss	(66,111)	(4,743)
US States and Political Subdivisions Debt Securities
HeldToMaturitySecuritiesEstimatedFairValue	6,037,490	1,986,861
AmortizedCost	6,017,225	1,805,828
Held-to-maturity Securities, Unrecognized Holding Gain	153,514	182,073
Held-to-maturity Securities, Unrecognized Holding Loss	(133,249)	(1,040)
Corporate Debt Securities
HeldToMaturitySecuritiesEstimatedFairValue	171,089,612	138,822,720
AmortizedCost	164,375,636	134,488,108
Held-to-maturity Securities, Unrecognized Holding Gain	10,440,989	9,836,355
Held-to-maturity Securities, Unrecognized Holding Loss	(3,727,013)	(5,501,743)
Collateralized Mortgage Backed Securities
HeldToMaturitySecuritiesEstimatedFairValue	9,428,612	5,207,174
AmortizedCost	9,488,083	5,091,887
Held-to-maturity Securities, Unrecognized Holding Gain	221,400	190,867
Held-to-maturity Securities, Unrecognized Holding Loss	(280,871)	(75,580)
Redeemable Preferred Stock
HeldToMaturitySecuritiesEstimatedFairValue	637,053	641,698
AmortizedCost	623,635	612,023
Held-to-maturity Securities, Unrecognized Holding Gain	13,418	29,675
Industrial, miscellaneous and all other equity securities
Available-for-sale Securities, Amortized Cost Basis	10,985,338	9,891,500
Available-for-sale Debt Securities Gross Unrealized Gain	447,110	213,684
Available-for-sale Debt Securities, Gross Unrealized Loss	(859,092)	(1,674,094)
AvailableForSaleSecuritiesEstimatedFairValue	10,573,356	8,431,090
Equity Securities
Available-for-sale Securities, Amortized Cost Basis	10,985,338	9,891,500
Available-for-sale Debt Securities Gross Unrealized Gain	447,110	213,684
Available-for-sale Debt Securities, Gross Unrealized Loss	(859,092)	(1,674,094)
AvailableForSaleSecuritiesEstimatedFairValue	$ 10,573,356	$ 8,431,090

Note 2_ Investments_ Schedul109

Note 2: Investments: Schedule of Unrealized Loss on Investments (Details)	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Held-to-maturity Securities, Unrecognized Holding Loss	$ 4,207,244	$ 5,583,106
Held-to-maturity Securities, Fair Value	64,910,462	37,886,358
Available For Sale Securities Fair Value	3,749,018	4,938,569
US Treasury and Government
Held-to-maturity Securities, Unrecognized Holding Loss	66,111	4,743
Held-to-maturity Securities, Fair Value	1,342,088	2,191,782
US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	133,249	1,040
Held-to-maturity Securities, Fair Value	3,686,856	86,388
Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	3,727,013	5,501,743
Held-to-maturity Securities, Fair Value	54,765,151	33,832,683
Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	280,871	75,580
Held-to-maturity Securities, Fair Value	5,116,367	1,775,505
Industrial, miscellaneous and all other equity securities
Available-for-sale Debt Securities, Gross Unrealized Loss	859,092	1,674,094
Equity Securities
Available-for-sale Debt Securities, Gross Unrealized Loss	859,092	1,674,094
Less than 12 months
Held-to-maturity Securities, Unrecognized Holding Loss	2,104,387	3,781,895
Held-to-maturity Securities, Fair Value	51,001,049	34,076,401
Available For Sale Securities Fair Value	2,063,144	4,177,709
Less than 12 months | US Treasury and Government
Held-to-maturity Securities, Unrecognized Holding Loss	66,111	4,743
Held-to-maturity Securities, Fair Value	1,342,088	2,191,782
Less than 12 months | US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	133,249
Held-to-maturity Securities, Fair Value	3,686,856
Less than 12 months | Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	1,728,312	3,701,572
Held-to-maturity Securities, Fair Value	41,796,016	30,109,114
Less than 12 months | Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	176,715	75,580
Held-to-maturity Securities, Fair Value	4,176,089	1,775,505
Less than 12 months | Industrial, miscellaneous and all other equity securities
Available-for-sale Debt Securities, Gross Unrealized Loss	$ 215,563	$ 997,862
No. of Investment Positions	124	222
Less than 12 months | Equity Securities
Available-for-sale Debt Securities, Gross Unrealized Loss	$ 215,563	$ 997,862
No. of Investment Positions	124	222
More than 12 months
Held-to-maturity Securities, Unrecognized Holding Loss	$ 2,102,857	$ 1,801,211
Held-to-maturity Securities, Fair Value	13,909,413	3,809,957
Available For Sale Securities Fair Value	1,685,874	760,860
More than 12 months | US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss		1,040
Held-to-maturity Securities, Fair Value		86,388
More than 12 months | Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	1,998,701	1,800,171
Held-to-maturity Securities, Fair Value	12,969,135	3,723,569
More than 12 months | Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	104,156
Held-to-maturity Securities, Fair Value	940,278
More than 12 months | Industrial, miscellaneous and all other equity securities
Available-for-sale Debt Securities, Gross Unrealized Loss	$ 643,529	$ 676,232
No. of Investment Positions	104	74
More than 12 months | Equity Securities
Available-for-sale Debt Securities, Gross Unrealized Loss	$ 643,529	$ 676,232
No. of Investment Positions	104	74

Note 2_ Investments_ Fixed Matu

Note 2: Investments: Fixed Maturity Securities - Additional (Details) - Fixed Maturities - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Average market value over amortized cost	93.90%	87.20%
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities	$ 100,000	$ 120,000	$ 120,000

Note 2_ Investments_ Equity Sec

Note 2: Investments: Equity Securities - Additional (Details) - Equity Securities - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Average Market Value of Security over initial investment	81.40%	74.70%
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities	$ 170,358	$ 293,714	$ 44,240

Note 2_ Investments_ Investm112

Note 2: Investments: Investments Classified by Contractual Maturity Date (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
AmortizedCost	$ 184,979,644	$ 145,558,425
HeldToMaturitySecuritiesEstimatedFairValue	191,850,749	150,507,158
Redeemable Preferred Stock
AmortizedCost	623,635	612,023
HeldToMaturitySecuritiesEstimatedFairValue	637,053	$ 641,698
Common Stock
Available-for-sale Securities, Amortized Cost Basis	10,985,338
AvailableForSaleSecuritiesEstimatedFairValue	10,573,356
DueIn2017Member
AmortizedCost	6,148,334
HeldToMaturitySecuritiesEstimatedFairValue	6,232,674
DueIn2018Through2021Member
AmortizedCost	42,886,637
HeldToMaturitySecuritiesEstimatedFairValue	44,879,897
DueIn2022Through2026Member
AmortizedCost	42,090,383
HeldToMaturitySecuritiesEstimatedFairValue	43,288,035
DueAfter2026Member
AmortizedCost	83,742,572
HeldToMaturitySecuritiesEstimatedFairValue	87,324,617
Mortgage backed securities
AmortizedCost	9,488,083
HeldToMaturitySecuritiesEstimatedFairValue	$ 9,488,473

Note 2_ Investments_ Gain (L113

Note 2: Investments: Gain (Loss) on Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Gains and losses and other than temporary impairments from investments and other assets	$ (446,745)	$ 1,795,929	$ 1,753,936
Held-to-maturity Securities
Gross Realized Gains	389,558	387,162	390,203
Gross Realized Losses	(132,124)	(82,166)	(71,800)
Other than Temporary Impairments	(100,000)	(120,000)	(120,000)
Available-for-sale Securities
Gross Realized Gains	221,817	180,602	349,207
Gross Realized Losses	(61,242)	(66,850)	(55,222)
Other than Temporary Impairments	(170,358)	(293,714)	(44,240)
Other Assets
Gross Realized Gains	349,252	2,067,438	1,445,596
Gross Realized Losses	$ (943,648)	(84,827)	$ (139,808)
Other than Temporary Impairments		$ (191,716)

Note 2_ Investments_ Fixed M114

Note 2: Investments: Fixed Maturity Securities - Carrying Amount and Net Realized Gain (Details) - Held-to-maturity Securities - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net carrying amount for sales of securities	$ 2,380,027	$ 2,569,712	$ 2,840,709
Net realized gain related to sales of securities	$ 155,346	$ 311,752	$ 20,722

Note 2_ Investments_ Schedul115

Note 2: Investments: Schedule of Major categories of net investment income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Gross Investment Income	$ 46,836,078	$ 42,855,455	$ 37,564,975
Investment Income, Investment Expense	(9,253,634)	(8,847,551)	(9,261,235)
Net Investment Income	37,582,444	34,007,904	28,303,740
Fixed Maturities
Gross Investment Income	8,972,877	8,168,441	8,229,451
Equity Securities
Gross Investment Income	270,942	269,795	212,917
MortgageLoansOnRealEstate1Member
Gross Investment Income	8,963,105	7,696,533	7,550,110
Real Estate
Gross Investment Income	10,969,828	9,454,567	8,433,895
PolicyLoans1Member
Gross Investment Income	781,188	749,917	741,220
Insurance Assignments
Gross Investment Income	11,876,836	8,915,655	7,324,964
Other investments
Gross Investment Income	25,122	6,533
Short-term investments, principally gains on sale of mortgage loans
Gross Investment Income	$ 4,976,180	$ 7,594,014	$ 5,072,418

Note 2_ Investments_ Net Invest

Note 2: Investments: Net Investment Income - Additional (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net Investment Income	$ 37,582,444	$ 34,007,904	$ 28,303,740
Securities on deposit for regulatory authorities	9,269,121	8,815,542
Cemeteries and mortuaries
Net Investment Income	$ 419,360	$ 369,632	$ 356,369

Note 2_ Investments_ Commerc117

Note 2: Investments: Commercial Real Estate Investment (Details)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	$ 145,165,921	$ 114,852,432
Commercial Real Estate 1
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	$ 68,973,936	$ 33,180,397
Square Footage	739,747	515,663
Commercial Real Estate 1 | ArizonaMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	$ 450,538	$ 463,774
Square Footage	16,270	16,270
Commercial Real Estate 1 | ArkansasMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	$ 100,369
Square Footage	3,200
Commercial Real Estate 1 | KansasMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	$ 12,450,297	$ 11,537,335
Square Footage	222,679	222,679
Commercial Real Estate 1 | LouisianaMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	$ 518,700
Square Footage	7,063
Commercial Real Estate 1 | MississippiMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	$ 3,818,985
Square Footage	33,821
Commercial Real Estate 1 | NewMexicoMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	$ 7,000	$ 7,000
Commercial Real Estate 1 | TexasMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	$ 3,734,974	$ 3,768,542
Square Footage	23,470	23,470
Commercial Real Estate 1 | UtahMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	$ 47,893,073	$ 17,403,746
Square Footage	433,244	253,244

Note 2_ Investments_ Residen118

Note 2: Investments: Residential Real Estate Investment (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	$ 145,165,921	$ 114,852,432
Residential Real Estate 1
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	76,191,985	81,672,035
Residential Real Estate 1 | ArizonaMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	742,259	944,614
Residential Real Estate 1 | CaliforniaMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	5,848,389	6,158,253
Residential Real Estate 1 | ColoradoMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	364,489	553,230
Residential Real Estate 1 | FloridaMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	8,327,355	9,203,624
Residential Real Estate 1 | IllinoisMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015		165,800
Residential Real Estate 1 | OklahomaMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	46,658	99,862
Residential Real Estate 1 | OregonMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015		120,000
Residential Real Estate 1 | SouthCarolinaMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015		823,872
Residential Real Estate 1 | TexasMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	1,091,188	1,198,860
Residential Real Estate 1 | UtahMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	59,485,466	62,117,738
Residential Real Estate 1 | WashingtonMember
Real estate held for investment, net of accumulated depreciation of $16,138,439 and $12,210,346 for 2016 and 2015	$ 286,181	$ 286,182

Note 2_ Investments_ Mortgage L

Note 2: Investments: Mortgage Loans - Additional (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Mortgage loans on real estate balances, net of allowance for losses	$ 1,748,783	$ 1,848,120
Minimum
Mortgage Loan, Interest Rate	2.00%
Maximum
Mortgage Loan, Interest Rate	10.50%

Note 2_ Investments_ The Fol120

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, 2016	Dec. 31, 2015
Financing Receivable, Allowance for Credit Losses, Beginning Balance	$ 1,848,120	$ 2,003,055
Allowance for credit losses, Charge-offs	(420,135)	(123,942)
Allowance for credit losses, Provision	320,798	(30,993)
Financing Receivable, Allowance for Credit Losses, Ending Balance	1,748,783	1,848,120
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	187,470	305,962
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,561,313	1,542,158
Mortgage loans	150,930,361	114,395,025
Financing Receivable, Individually Evaluated for Impairment	3,184,425	3,180,430
Financing Receivable, Collectively Evaluated for Impairment	147,745,936	111,214,594
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	51,536,622	33,522,978
Financing Receivable, Individually Evaluated for Impairment	202,992
Financing Receivable, Collectively Evaluated for Impairment	51,333,630	33,522,978
Residential Mortgage
Financing Receivable, Allowance for Credit Losses, Beginning Balance	1,560,877	1,715,812
Allowance for credit losses, Charge-offs	(420,135)	(123,942)
Allowance for credit losses, Provision	320,798	(30,993)
Financing Receivable, Allowance for Credit Losses, Ending Balance	1,461,540	1,560,877
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	187,470	305,962
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,274,070	1,254,915
Mortgage loans	58,593,622	46,020,490
Financing Receivable, Individually Evaluated for Impairment	2,916,538	3,087,161
Financing Receivable, Collectively Evaluated for Impairment	55,677,084	42,933,329
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	40,800,117	34,851,557
Financing Receivable, Individually Evaluated for Impairment	64,895	93,269
Financing Receivable, Collectively Evaluated for Impairment	$ 40,735,222	$ 34,758,287

Note 2_ Investments_ Schedul121

Note 2: Investments: Schedule of aging of mortgage loans (Details) - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Mortgage Loans during period		$ 150,930,361	$ 114,395,025
Mortgage Loans, Allowance for Loan Losses		(1,748,783)	(1,848,120)
Mortgage Loans, Net		149,181,578	112,546,905
Commercial Loan
Mortgage Loans during period		51,536,622	33,522,978
Mortgage Loans, Allowance for Loan Losses		(187,129)	(187,129)
Mortgage Loans, Net		51,349,493	33,335,849
Residential Mortgage
Mortgage Loans during period		58,593,622	46,020,490
Mortgage Loans, Allowance for Loan Losses		(1,461,540)	(1,560,877)
Mortgage Loans, Net		57,132,082	44,459,613
Residential Construction
Mortgage Loans during period		40,800,117	34,851,557
Mortgage Loans, Allowance for Loan Losses		(100,114)	(100,114)
Mortgage Loans, Net		40,700,003	34,751,443
Past due 30 to 59 days
Mortgage Loans during period		964,960	1,162,102
Past due 30 to 59 days | Residential Mortgage
Mortgage Loans during period		964,960	1,162,102
Past due 60 to 89 days
Mortgage Loans during period		996,779	884,143
Past due 60 to 89 days | Residential Mortgage
Mortgage Loans during period		996,779	884,143
Past due 90 or more days
Mortgage Loans during period	[1]	1,355,250	2,277,888
Past due 90 or more days | Residential Mortgage
Mortgage Loans during period	[1]	1,290,355	2,212,993
Past due 90 or more days | Residential Construction
Mortgage Loans during period	[1]	64,895	64,895
In Foreclosure
Mortgage Loans during period	[1]	1,829,175	3,180,430
In Foreclosure | Commercial Loan
Mortgage Loans during period	[1]	202,992
In Foreclosure | Residential Mortgage
Mortgage Loans during period	[1]	1,626,183	3,087,161
In Foreclosure | Residential Construction
Mortgage Loans during period	[1]		93,269
Total Past Due
Mortgage Loans during period		5,146,164	7,504,563
Total Past Due | Commercial Loan
Mortgage Loans during period		202,992
Total Past Due | Residential Mortgage
Mortgage Loans during period		4,878,277	7,346,399
Total Past Due | Residential Construction
Mortgage Loans during period		64,895	158,164
Current
Mortgage Loans during period		145,784,197	106,890,462
Current | Commercial Loan
Mortgage Loans during period		51,333,630	33,522,978
Current | Residential Mortgage
Mortgage Loans during period		53,715,345	38,674,091
Current | Residential Construction
Mortgage Loans during period		$ 40,735,222	$ 34,693,393
[1]	There was not any interest income recognized on loans past due greater than 90 days or in foreclosure.

Note 2_ Investments_ Schedul122

Note 2: Investments: Schedule of Impaired Mortgage Loans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Commercial Loan
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	$ 202,992
Impaired Financing Receivable, Average Recorded Investment	202,992
Impaired Financing Receivable, Unpaid Principal Balance	202,992
Residential Mortgage
Impaired Financing Receivable, with Related Allowance, Recorded Investment	2,916,538	$ 3,087,161
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	2,916,538	3,087,161
Impaired Financing Receivable, Related Allowance	374,501	305,962
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	2,916,538	3,087,161
Impaired Financing Receivable, Average Recorded Investment	2,916,538	3,087,161
Impaired Financing Receivable, Unpaid Principal Balance	2,916,538	3,087,161
Residential Construction
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	64,895	93,269
Impaired Financing Receivable, Average Recorded Investment	$ 64,895	$ 93,269

Note 2_ Investments_ The Com123

Note 2: Investments: The Company's Performing and Non-performing Mortgage Loans Were As Follows (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Mortgage loans	$ 150,930,361	$ 114,395,025
PerformingMember
Mortgage loans	147,745,936	108,936,707
NonPerformingMember
Mortgage loans	3,184,425	5,458,318
Commercial Loan
Mortgage loans	51,536,622	33,522,978
Commercial Loan | PerformingMember
Mortgage loans	51,333,630	33,522,978
Commercial Loan | NonPerformingMember
Mortgage loans	202,992
Residential Mortgage
Mortgage loans	58,593,622	46,020,490
Residential Mortgage | PerformingMember
Mortgage loans	55,677,084	40,720,336
Residential Mortgage | NonPerformingMember
Mortgage loans	2,916,538	5,300,154
Residential Construction
Mortgage loans	40,800,117	34,851,557
Residential Construction | PerformingMember
Mortgage loans	40,735,222	34,693,393
Residential Construction | NonPerformingMember
Mortgage loans	$ 64,895	$ 158,164

Note 2_ Investments_ Summary of

Note 2: Investments: Summary of Interest not accrued on non-performing mortgage loans (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Details
Interest not acrued on non-performing loans	$ 172,000	$ 268,000

Note 2_ Investments_ Schedul125

Note 2: Investments: Schedule of Mortgate loans on a nonaccrual status (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	$ 3,184,425	$ 5,458,318
Commercial Loan
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	202,992
Residential Mortgage
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	2,916,538	5,300,154
Residential Construction
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	$ 64,895	$ 158,164

Note 2_ Investments_ Schedul126

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, 2016USD ($)
Mortgage Loans Principal Amount due	$ 150,930,361
Residential Mortgage
Mortgage Loans Principal Amount due	58,593,622
Residential Construction
Mortgage Loans Principal Amount due	40,800,117
Commercial Loan
Mortgage Loans Principal Amount due	51,536,622
DueInNextYearMember
Mortgage Loans Principal Amount due	65,316,945
DueInNextYearMember | Residential Mortgage
Mortgage Loans Principal Amount due	6,115,360
DueInNextYearMember | Residential Construction
Mortgage Loans Principal Amount due	32,504,143
DueInNextYearMember | Commercial Loan
Mortgage Loans Principal Amount due	26,697,442
DueInYearsTwoThroughFiveMember
Mortgage Loans Principal Amount due	40,895,013
DueInYearsTwoThroughFiveMember | Residential Mortgage
Mortgage Loans Principal Amount due	11,916,728
DueInYearsTwoThroughFiveMember | Residential Construction
Mortgage Loans Principal Amount due	8,295,974
DueInYearsTwoThroughFiveMember | Commercial Loan
Mortgage Loans Principal Amount due	20,682,311
DueThereafterMember
Mortgage Loans Principal Amount due	44,718,403
DueThereafterMember | Residential Mortgage
Mortgage Loans Principal Amount due	40,561,534
DueThereafterMember | Commercial Loan
Mortgage Loans Principal Amount due	$ 4,156,869

Note 2_ Investments_ Schedul127

Note 2: Investments: Schedule of loan loss reserve which is included in other liabilities and accrued expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Loan loss reserve, balance at start of period	$ 2,805,900	$ 1,718,150
Provision for current loan originations	2,988,754	2,845,940
Provision for loan loss reserve	1,700,000	3,449,103	$ 1,000,000
Loan loss reserve, Charge-offs and settlements	(6,866,921)	(5,207,293)
Loan loss reserve, balance at end of period	$ 627,733	$ 2,805,900	$ 1,718,150

Note 3_ Receivables_ Schedul128

Note 3: Receivables: Schedule of Receivables (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Details
Trade contracts	$ 3,482,175	$ 2,890,489
Receivables from sales agents	4,016,393	3,280,423
Receivables held in escrow	107,388	245,088
Other Receivables	1,122,890	1,345,690
Accounts Receivable, Gross	8,728,846	7,761,690
Allowance for Doubtful Accounts Receivable	(2,355,482)	(1,700,696)
Receivables, net	$ 6,373,364	$ 6,060,994

Note 4_ Value of Business Ac129

Note 4: Value of Business Acquired: Schedule of Value of Business Acquired (Details) - USD ($)		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Details
Value of business acquired, balance at start of period						$ 7,570,300	$ 8,743,773	$ 8,547,627
Increase (Decrease) in value of business acquired								1,473,272
Imputed interest on value of business acquired	[1]						45,762	590,108
Value of business acquired - amortization							(1,219,235)	(1,867,234)
Value of business acquired - net amortization charged to income		$ (835,000)	$ (899,000)	$ (966,000)	$ (1,041,000)	$ (1,119,000)	(1,173,473)	(1,277,126)
Value of business acquired, balance at start of period							$ 7,570,300	$ 8,743,773
[1]	Imputed interest at 7%.

Note 4_ Value of Business Ac130

Note 4: Value of Business Acquired: Net amortization charged to income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Details
Value of business acquired - net amortization charged to income	$ 835,000	$ 899,000	$ 966,000	$ 1,041,000	$ 1,119,000	$ 1,173,473	$ 1,277,126

Note 4_ Value of Business Ac131

Note 4: Value of Business Acquired: Goodwill and Intangible Assets Disclosure (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Details
Goodwill, Beginning Balance	$ 2,765,570	$ 2,765,570
Goodwill, Ending Balance	$ 2,765,570	$ 2,765,570

Note 5_ Property and Equipme132

Note 5: Property and Equipment: Property, Plant and Equipment (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment, Gross	$ 28,704,186	$ 29,740,057
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(19,912,664)	(18,298,397)
Property and equipment, net	8,791,522	11,441,660
Land and Building
Property, Plant and Equipment, Gross	9,155,665	13,126,195
Office Equipment
Property, Plant and Equipment, Gross	$ 19,548,521	$ 16,613,862

Note 5_ Property and Equipment

Note 5: Property and Equipment (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Property, Plant and Equipment, Other, Accumulated Depreciation	$ 2,182,724	$ 2,183,496	$ 2,177,165

Note 6_ Bank and Other Loans134

Note 6: Bank and Other Loans Payable: Summary of Bank Loans Payable (Details) - USD ($)		Dec. 31, 2016	Dec. 31, 2015
Bank loans payable		$ 152,140,679	$ 131,005,614
Current Installment		101,177,574	119,734,751
Bank and other loans, excluding current installments		50,963,105	11,270,863
N634NotePayableMember
Bank loans payable	[1]	147,346	312,240
MarkToMarketOfInterestRateSwapsMember
Bank loans payable		3,308	13,947
N650NotePayableMember
Bank loans payable	[2]	251,072
N625ANotePayableMember
Bank loans payable	[3]	3,133,787	3,260,266
N385ANotePayableMember
Bank loans payable	[4]	1,093,349	2,062,512
N427NotePayableMember
Bank loans payable	[5]	2,904,354
N440NotePayableMember
Bank loans payable	[6]	7,927,526	8,135,438
N4329NotePayableMember
Bank loans payable	[7]	1,992,056	2,020,993
N625BNotePayableMember
Bank loans payable	[8]	8,777,941
N99789NotePayableMember
Bank loans payable	[9]	27,377,114	24,933,346
N0625ANotePayableMember
Bank loans payable	[10]	76,843,180	61,302,069
N0625BNotePayableMember
Bank loans payable	[11]	21,578,951	28,794,630
OtherCollateralizedBankLoansPayableMember
Bank loans payable		109,734	169,212
OtherNotesPayable1Member
Bank loans payable		$ 961	$ 961
[1]	Payable in monthly installments of $13,741 including principal and interest, collateralized by real property with a book value of approximately $498,000, due November 2017.
[2]	Monthly installments of $1,702 including principal and interest, collateralized by real property with a book value of approximately $278,000, due October 2041
[3]	Monthly LIBOR rate note payable in monthly principal payments of $13,167 plus interest, collateralized by real property with a book value of approximately $4,564,000, due October 2021
[4]	Monthly installments of $86,059 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due January 2018
[5]	Monthly installments of $53,881 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due November 2021
[6]	Monthly installments of $46,825 including principal and interest, collateralized by real property with a book value of approximately $12,060,000 due January 2026.
[7]	Monthly installments of $9,775 including principal and interest, collateralized by real property with a book value of approximately $3,048,000, due September 2025
[8]	Monthly LIBOR rate construction loan payable, collateralized by real property with a book value of approximately $31,835,000, due August 2019
[9]	Monthly installments of approximately $123,800, collateralized by real property with a book value of approximately $35,798,000, due October 2019
[10]	1 month LIBOR rate plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures June 2018
[11]	1 month LIBOR rate plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures September 2017

Note 6_ Bank and Other Loans135

Note 6: Bank and Other Loans Payable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Interest expense	$ 5,111,868	$ 4,458,612	$ 2,994,429
InterestRateSwapInstrumentMember
Long-term Debt, Fair Value	$ 3,308	13,947
Debt Instrument, Interest Rate, Effective Percentage	2.65%
Derivative Liability	$ 3,308		$ 13,947
Change in accumulated other comprehensive income	$ 10,639	$ 17,423
RevolvingLineOfCredit1Member
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	3.00%
Line of Credit Facility, Collateral	secured by the capital stock of Security National Life
RevolvingLineOfCredit2Member
Line of Credit Facility, Description	The Company has a $2,500,000 revolving line-of-credit with a bank with interest payable at the overnight LIBOR rate plus 2.25%
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,500,000
Line of Credit Facility, Interest Rate at Period End	2.94%

Note 6_ Bank and Other Loans136

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, 2016USD ($)
Bank loans payable, lines of credit and notes and contracts payable	$ 152,140,679
DueInYearOneMember
Bank loans payable, lines of credit and notes and contracts payable	101,177,574
DueInYearTwoMember
Bank loans payable, lines of credit and notes and contracts payable	1,539,638
DueInYearThreeMember
Bank loans payable, lines of credit and notes and contracts payable	36,128,905
DueInYearFourMember
Bank loans payable, lines of credit and notes and contracts payable	1,066,254
DueInYearFiveMember
Bank loans payable, lines of credit and notes and contracts payable	3,436,591
DueInYearThereafterMember
Bank loans payable, lines of credit and notes and contracts payable	$ 8,791,717

Note 7_ Cemetery and Mortuar137

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, 2016	Dec. 31, 2015
Details
Cemetery perpetual care obligation, trust investments at market value	$ 4,131,885	$ 2,848,759
Cemetery perpetual care obligation, note receivables eliminated in consolidation	1,725,714	1,780,618
Cemetery perpetual care obligation, trust assets	5,857,599	4,629,377
Cemetery perpetual care obligation	(3,598,580)	(3,465,771)
Cemetery perpetual care obligation, fair value of trust assets in excess of trust obligations	$ 2,259,019	$ 1,163,606

Note 7_ Cemetery and Mortuar138

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, 2016	Dec. 31, 2015
Restricted assets	$ 10,391,394	$ 9,359,802
CashAndCashEquivalents1Member
Restricted assets	8,070,972	7,206,863
MutualFundsMember
Restricted assets	645,241	596,994
FixedMaturitySecuritiesMember
Restricted assets	8,775	8,775
EquitySecurities1Member
Restricted assets	91,362	89,450
ParticipatingInMortgageLoansWithSecurityNationalLifeMember
Restricted assets	$ 1,575,044	$ 1,457,720

Note 8_ Income Taxes_ Summar139

Note 8: Income Taxes: Summary of Income Tax Liability (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Details
Current Income Tax Liability	$ (1,511,762)	$ (215,366)
Income Tax Liability	25,830,631	20,628,255
Income taxes	$ 24,318,869	$ 20,412,889

Note 8_ Income Taxes_ Schedu140

Note 8: Income Taxes: Schedule of components of Deferred Tax Liabilities (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Liabilities
Income Tax Liability	$ 25,830,631	$ 20,628,255
ApproximateMember
Assets
Deferred Tax, Future policy benefits	(9,719,058)	(7,551,336)
Deferred Tax, Loan Loss Reserve	(288,590)	(1,163,700)
Deferred Tax, Unearned premium	(1,519,722)	(1,610,684)
Deferred Tax, Available for sale Securities	(51,266)	(150,984)
Deferred Tax Net Operating Loss	(1,531,160)	(588,537)
Deferred Tax Deferred Compensation	(2,225,208)	(1,994,927)
Deferred Tax Deposit Obligations	(1,033,580)	(1,026,984)
Deferred Tax, Other assets	(3,384,144)	(3,694,959)
Deferred Tax, Valuation Allowance	431,802
Deferred Tax Assets, Net of Valuation Allowance	(19,320,926)	(17,782,111)
Liabilities
Deferred Tax, Deferred policy acquisition costs	18,150,517	14,838,604
Deferred Tax, Basis difference in property and equipment	10,749,036	9,375,146
Deferred Tax, Value of business acquired	2,573,902	2,972,883
Deferred Tax, Installment sales	9,290,123	6,902,888
Deferred Tax, Trusts	1,599,657	1,599,657
Tax on unrealized appreciation	2,788,322	2,721,188
Deferred Tax Liabilities, Net	45,151,557	38,410,366
Income Tax Liability	$ 25,830,631	$ 20,628,255

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, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Deferred Taxes Increase In The Valuation Allowance	$ 431,802
Income taxes	$ 2,667,918	$ 2,716,161	$ 408,939

Note 8_ Income Taxes_ Schedu142

Note 8: Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Federal Income Tax Expense (Benefit), Continuing Operations	$ 1,138,196	$ 2,423,846	$ 1,532,539
State and Local Income Tax Expense (Benefit), Continuing Operations	245,764	412,175	121,124
Current Income Tax Expense (Benefit)	1,383,960	2,836,021	1,653,663
Deferred Federal Income Tax Expense (Benefit)	5,686,651	4,413,336	3,406,545
Deferred State and Local Income Tax Expense (Benefit)	443,993	412,674	449,911
Provision for deferred and other income taxes	6,130,644	4,826,010	3,856,456
Income tax expense	$ 7,514,604	$ 7,662,031	$ 5,510,119

Note 8_ Income Taxes_ Schedu143

Note 8: Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ 6,699,099	$ 7,144,580	$ 4,667,165
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	455,240	544,400	376,883
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	431,802
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	(71,537)	(26,949)	466,071
Income tax expense	$ 7,514,604	$ 7,662,031	$ 5,510,119

Note 8_ Income Taxes_ Unrecogni

Note 8: Income Taxes: Unrecognized tax benefits, interest and penalties (Details)	Dec. 31, 2016USD ($)
Details
Unrecognized Tax Benefits	$ 0

Note 9_ Reinsurance, Commitm145

Note 9: Reinsurance, Commitments and Contingencies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Amounts accrued for loan losses	$ 628,000	$ 2,806,000
Rent expense related to non-cancelable operating leases	7,879,000	7,199,000	$ 5,589,000
UnauditedMember
Insurance assumed from other companies	$ 110,000	$ 1,468,935,000

Note 9_ Reinsurance, Commitm146

Note 9: Reinsurance, Commitments and Contingencies: Schedule of Future Minimum Rental Payments for Operating Leases (Details)	Dec. 31, 2016USD ($)
Details
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 6,556,093
Operating Leases, Future Minimum Payments, Due in Two Years	4,121,399
Operating Leases, Future Minimum Payments, Due in Three Years	2,583,941
Operating Leases, Future Minimum Payments, Due in Four Years	1,151,873
Operating Leases, Future Minimum Payments, Due in Five Years	496,713
Operating Leases, Future Minimum Payments Due	$ 14,910,019

Note 9_ Reinsurance, Commitm147

Note 9: Reinsurance, Commitments and Contingencies: Other Contingencies and Commitments (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Details
Reserve related to Insurance programs	$ 416,576	$ 834,855

Note 10_ Retirement Plans_ Nonc

Note 10: Retirement Plans: Noncontributory Employee Stock Ownership Plan (ESOP) (Details) - EmployeeStockOwnershipPlanESOPMember	12 Months Ended
	Dec. 31, 2016shares
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	500,450
Class C Common Stock
Employee Stock Ownership Plan (ESOP), Shares in ESOP	265,623

Note 10_ Retirement Plans_ 401(

Note 10: Retirement Plans: 401(k) Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Contribution Plan, Description	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, $18,000 and $17,500 for the years 2016, 2015 and 2014, respectively or the statutory limits.
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount	$ 18,000	$ 18,000	$ 17,500
SafeHarborPlanMember
Contribution to Retirement Plan	$ 1,429,962	$ 1,197,236	$ 899,850

Note 10_ Retirement Plans_ Defe

Note 10: Retirement Plans: Deferred Compensation Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
ScottMQuistMember
Present value of anticipated benefits	$ 511,443	$ 999,961	$ 833,183
Deferred Compensation Arrangement with Individual, Recorded Liability	3,776,368	3,264,925
MrBecksteadMember
Present value of anticipated benefits	148,557	320,039	$ 154,817
Deferred Compensation Arrangement with Individual, Recorded Liability	$ 1,109,277	$ 1,093,720
DeferredCompensationPlanMember
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_ Sche151

Note 11: Capital Stock: Schedule of Activity in shares of capital stock (Details) - USD ($)	12 Months Ended			24 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Class A Common Stock
Common Stock Outstanding	13,819,006	13,109,100	12,459,240	12,459,240	11,807,287
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	42,634	23,961		54,412
Dividends	$ 657,919	$ 624,483	$ 595,020
Conversion of Stock, Shares Issued	9,353	1,416	2,521
Class C Common Stock
Common Stock Outstanding	1,902,229	1,709,640	1,394,069	1,394,069	1,330,191
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	104,975	241,652
Dividends	$ 96,967	$ 75,335	$ 66,384
Conversion of Stock, Shares Issued	(9,353)	(1,416)	(2,521)

Note 11_ Capital Stock_ Sche152

Note 11: Capital Stock: Schedule of Basic and diluted earnings per share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Net Earnings (Loss)	$ 12,188,627	$ 13,351,441	$ 8,216,832
Weighted Average Number of Shares Outstanding, Basic and Diluted	14,806,290	14,439,274	13,893,260
Employee stock options	$ 320,914	$ 512,559	$ 451,215
Diluted weighted-average shares outstanding	320,914	512,559	451,215
Adjustedweighted average shares and assumed conversions	15,127,204	14,951,833	14,344,475
Net earnings per Class A Equivalent common share (1)	$ 0.82	$ 0.92	$ 0.59
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.81	$ 0.89	$ 0.57

Note 12_ Stock Compensation 153

Note 12: Stock Compensation Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 343,577	$ 387,608	$ 391,220
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 670,959	$ 1,190,879

Note 12_ Stock Compensation 154

Note 12: Stock Compensation Plans: Schedule of Activity of the 2003 Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	741,973	618,261	512,795	405,133
Shares outstanding	$ 4.33	$ 3.89	$ 3.20	$ 2.41
Adjustment for the effect of stock dividends	35,346	29,335	24,446
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	133,500	133,500	173,500
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised	(42,634)	(26,850)	(59,713)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	(2,500)	(30,519)	(30,571)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number		601,731
Options exercisable	$ 3.78
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	253,432
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	7 years 4 months 13 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	6 years 9 months 7 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 1,452,902
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 1,452,574
Class C Common Stock
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	556,298	577,436	691,591	508,657
Shares outstanding	$ 4.52	$ 3.54	$ 2.54
Adjustment for the effect of stock dividends	26,491	27,497	32,934
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	80,000	100,000	150,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised	(127,629)	(241,652)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number		472,298
Options exercisable	$ 4.02
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	2 years 8 months 1 day
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	2 years 3 months 7 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 1,079,136
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 1,079,136

Note 13_ Statutory Financial155

Note 13: Statutory Financial Information and Dividend Limitations: Schedule of statutory accounting practices (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statutory Accounting Practices, Statutory Net Income Amount	$ 2,778,522	$ 3,478,826	$ 5,139,394
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	44,055,297	35,942,860
SecurityNationalLifeInsuranceMember
Statutory Accounting Practices, Statutory Net Income Amount	2,601,408	3,478,338	5,137,208
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	36,789,358	32,771,066
First Guaranty Insurance Company
Statutory Accounting Practices, Statutory Net Income Amount	174,562
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	4,091,847
MemorialInsuranceCompanyOfAmericaMember
Statutory Accounting Practices, Statutory Net Income Amount	460	49	415
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,081,319	1,082,059
SouthernSecurityLifeInsuranceCompanyIncMember
Statutory Accounting Practices, Statutory Net Income Amount	889	491	467
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,592,440	1,590,605
TransWesternLifeInsuranceCompanyMember
Statutory Accounting Practices, Statutory Net Income Amount	1,203	(52)	$ 1,304
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 500,333	$ 499,130

Note 14_ Business Segment In156

Note 14: Business Segment Information: Schedule of Segment Reporting Information, by Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue from customers	$ 260,311,453	$ 239,429,192	$ 191,242,460
Net investment income	37,582,444	34,007,904	28,303,740
Gain (Loss) on Investments	(176,387)	2,401,359	1,918,176
Other than Temporary Impairment Losses, Investments	(270,358)	(605,430)	(164,240)
Other income	6,887,749	5,121,807	3,747,013
Net Investment Income	37,582,444	34,007,904	28,303,740
Total revenues	304,334,901	280,354,832	225,047,149
Death and other policy benefits	33,387,380	33,549,893	29,789,964
Increase (Decrease) in Future Policy Benefit Reserves	21,322,195	17,057,764	17,905,914
Amortization of deferred policy and preneed acquisition costs and Value of Business Acquired	8,003,175	5,641,293	6,892,978
Depreciation	2,182,724	2,183,496	2,177,165
Provision for Loan and Lease Losses	1,700,000	3,449,103	1,000,000
Costs related to funding mortgage loans	9,191,488	8,901,511	6,451,319
Other General Expense	203,732,840	184,099,688	144,108,429
Interest Expense, Other	5,111,868	4,458,612	2,994,429
Benefits and Expenses	284,631,670	259,341,360	211,320,198
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	19,703,231	21,013,472	13,726,951
Income tax expense	(7,514,604)	(7,662,031)	(5,510,119)
Net Earnings (Loss)	12,188,627	13,351,441	8,216,832
Identifiable Assets	951,678,583	840,473,166	749,692,842
Goodwill	2,765,570	2,765,570	2,765,570
Expenditures for long-lived assets	3,566,511	3,632,690	1,520,443
Life Insurance Segment
Revenue from customers	66,902,126	58,883,721	57,037,623
Net investment income	28,618,485	25,297,486	23,008,489
Gain (Loss) on Investments	(277,040)	2,332,456	1,208,391
Other than Temporary Impairment Losses, Investments	(270,358)	(413,714)	(164,240)
Other income	632,260	824,759	682,682
Net Investment Income	7,119,692	7,615,338	6,128,389
Total revenues	102,725,165	94,540,046	87,901,334
Death and other policy benefits	33,387,380	33,549,893	29,789,964
Increase (Decrease) in Future Policy Benefit Reserves	21,322,195	17,057,764	17,905,914
Amortization of deferred policy and preneed acquisition costs and Value of Business Acquired	7,647,097	5,306,781	6,561,589
Depreciation	596,827	710,733	644,510
Administrative costs, intersegment			24,000
Other General Expense	29,478,156	27,416,860	23,045,928
Interest Expense, intersegment	781,078	726,919	725,354
Interest Expense, Other	1,654,264	1,151,860	578,083
Benefits and Expenses	94,866,997	85,920,810	79,275,342
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	7,858,168	8,619,236	8,625,992
Income tax expense	(3,451,292)	(3,191,370)	(3,796,327)
Net Earnings (Loss)	4,406,876	5,427,866	4,829,665
Identifiable Assets	821,097,220	721,362,741	652,348,803
Goodwill	2,765,570	2,765,570	2,765,570
Expenditures for long-lived assets	532,958	3,024,223	660,830
Cemetery and Mortuary
Revenue from customers	12,267,640	11,502,045	11,426,308
Net investment income	312,494	450,854	275,324
Gain (Loss) on Investments	211,429	387,316	585,543
Other income	88,676	146,831	169,464
Net Investment Income	691,876	1,155,180	1,288,856
Total revenues	13,572,115	13,642,226	13,745,495
Amortization of deferred policy and preneed acquisition costs and Value of Business Acquired	356,078	334,512	331,389
Depreciation	390,362	403,066	436,390
Administrative costs, intersegment	148,025	156,777	166,079
Other General Expense	10,524,535	10,117,012	10,245,144
Interest Expense, intersegment	651,046	1,379,668	1,481,317
Interest Expense, Other	282,878	337,632	421,920
Benefits and Expenses	12,352,924	12,728,667	13,082,239
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	1,219,191	913,559	663,256
Net Earnings (Loss)	1,219,191	913,559	663,256
Identifiable Assets	99,611,263	101,935,898	109,114,226
Expenditures for long-lived assets	723,445	154,226	121,677
Mortgage
Revenue from customers	181,141,687	169,043,426	122,778,529
Net investment income	8,651,465	8,259,564	5,019,927
Gain (Loss) on Investments	(110,776)	(318,413)	124,242
Other than Temporary Impairment Losses, Investments		(191,716)
Other income	6,166,813	4,150,217	2,894,867
Net Investment Income	327,778	326,822	642,880
Total revenues	196,176,967	181,269,900	131,460,445
Depreciation	1,195,535	1,069,697	1,096,265
Administrative costs, intersegment	219,974	199,244	208,513
Provision for Loan and Lease Losses	1,700,000	3,449,103	1,000,000
Costs related to funding mortgage loans	9,191,488	8,901,511	6,451,319
Other General Expense	163,730,148	146,565,817	110,817,359
Interest Expense, intersegment	6,339,224	6,634,731	5,454,860
Interest Expense, Other	3,174,726	2,969,120	1,994,426
Benefits and Expenses	185,551,095	169,789,223	127,022,742
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	10,625,872	11,480,677	4,437,703
Income tax expense	(4,063,312)	(4,470,661)	(1,713,792)
Net Earnings (Loss)	6,562,560	7,010,016	2,723,911
Identifiable Assets	171,844,559	157,283,191	130,972,484
Expenditures for long-lived assets	2,310,108	454,241	737,936
Significant Reconciling Items
Net Investment Income	(8,139,346)	(9,097,340)	(8,060,125)
Total revenues	(8,139,346)	(9,097,340)	(8,060,125)
Administrative costs, intersegment	(367,999)	(356,021)	(398,592)
Other General Expense	1	(1)	(2)
Interest Expense, intersegment	(7,771,348)	(8,741,318)	(7,661,531)
Benefits and Expenses	(8,139,346)	(9,097,340)	(8,060,125)
Identifiable Assets	$ (140,874,459)	$ (140,108,664)	$ (142,742,671)

Note 16_ Fair Value of Finan157

Note 16: Fair Value of Financial Instruments: Schedule of fair value assets and liabilities measured on a recurring basis (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Trading Securities, Equity	$ 10,573,356	$ 8,431,090
Available-for-sale Securities	10,573,356	8,431,090
Restricted assets of cemeteries and mortuaries	736,603	686,444
Cemetery perpetual care trust investments	698,202	630,854
Derivatives - interest rate lock commitments	6,911,544	7,779,162
Other Investments	1,765,752	1,174,769
Assets, Fair Value Disclosure, Recurring	20,685,457	18,702,319
Policyholder account balances	(49,421,125)	(50,694,953)
Future policy benefits - annuities	(99,388,662)	(69,398,617)
Derivatives - bank loan interest rate swaps	(3,308)	(13,947)
Derivatives - bank loan interest rate swaps, Call Options	(109,474)	(16,342)
Derivatives - bank loan interest rate swaps, Put Options	(26,494)
Derivatives - bank loan interest rate swaps, Interest rate lock commitments	(102,212)	(107,667)
Obligations, Fair Value Disclosure	(149,051,275)	(120,260,355)
Fair Value, Inputs, Level 1
Trading Securities, Equity	10,573,356	8,431,090
Available-for-sale Securities	10,573,356	8,431,090
Restricted assets of cemeteries and mortuaries	736,603	686,444
Cemetery perpetual care trust investments	698,202	630,854
Assets, Fair Value Disclosure, Recurring	12,008,161	9,748,388
Derivatives - bank loan interest rate swaps, Call Options	(109,474)	(16,342)
Derivatives - bank loan interest rate swaps, Put Options	(26,494)
Obligations, Fair Value Disclosure	(135,968)	(45,171)
Fair Value, Inputs, Level 3
Derivatives - interest rate lock commitments	6,911,544	7,779,162
Other Investments	1,765,752	1,174,769
Assets, Fair Value Disclosure, Recurring	8,677,296	8,953,931
Policyholder account balances	(49,421,125)	(50,694,953)
Future policy benefits - annuities	(99,388,662)	(69,398,617)
Derivatives - bank loan interest rate swaps	(3,308)	(13,947)
Derivatives - bank loan interest rate swaps, Interest rate lock commitments	(102,212)	(107,667)
Obligations, Fair Value Disclosure	$ (148,915,307)	$ (120,215,184)

Note 16_ Fair Value of Finan158

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, 2016	Dec. 31, 2015
Policyholder Account Balances
Fair Value Balance	$ (50,694,953)	$ (45,310,699)
Fair Value, Losses (Gains) included in earnings	1,273,828	(5,384,254)
Fair Value Balance	(49,421,125)	(50,694,953)
Future Policy Benefits - Annuities
Fair Value Balance	(69,398,617)	(65,540,985)
Purchases	(30,294,480)
Fair Value, Losses (Gains) included in earnings	304,435	(3,857,632)
Fair Value Balance	(99,388,662)	(69,398,617)
Interest Rate Lock Commitments
Fair Value Balance	7,671,495	5,105,605
Fair Value, Losses (Gains) included in earnings	(862,163)	2,565,890
Fair Value Balance	6,809,332	7,671,495
Bank Loan Interest Rate Swaps
Fair Value Balance	(13,947)	(31,370)
Fair Value, Losses (Gains) included in other comprehensive income	10,639	17,423
Fair Value Balance	(3,308)	(13,947)
Other Investments
Fair Value Balance	1,174,769
Purchases	600,000	1,200,000
Fair Value, Losses (Gains) included in other comprehensive income	(9,017)	(25,231)
Fair Value Balance	$ 1,765,752	$ 1,174,769

Note 16_ Fair Value of Finan159

Note 16: Fair Value of Financial Instruments: Fair Value Assets Measured on a Nonrecurring Basis (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Mortgage Loans on Real Estate	$ 2,809,925	$ 2,874,468
Mortgage servicing rights	8,603,154	6,217,551
Real estate held for investment	2,347,820	95,000
Assets, Fair Value Disclosure, Nonrecurring	13,760,899	9,187,019
Fair Value, Inputs, Level 3
Mortgage Loans on Real Estate	2,809,925	2,874,468
Mortgage servicing rights	8,603,154	6,217,551
Real estate held for investment	2,347,820	95,000
Assets, Fair Value Disclosure, Nonrecurring	$ 13,760,899	$ 9,187,019

Note 16_ Fair Value of Finan160

Note 16: Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Carrying Value	$ 184,979,644	$ 145,558,425
Estimated Carrying Value	191,850,749	150,507,158
Residential Mortgage
Carrying Value	57,132,082	44,459,613
Estimated Carrying Value	61,357,393	47,193,950
Residential Construction
Carrying Value	40,700,003	34,751,443
Estimated Carrying Value	40,700,003	34,751,443
Commercial Loan
Carrying Value	51,349,493	33,335,849
Estimated Carrying Value	53,299,800	34,778,136
MortgageLoansNet1Member
Carrying Value	149,181,578	211,453,006
Estimated Carrying Value	155,357,196	217,646,189
LoansHeldForSale1Member
Carrying Value	189,139,832	112,546,905
Estimated Carrying Value	192,289,854	116,723,529
PolicyLoanMember
Carrying Value	6,694,148	6,896,457
Estimated Carrying Value	6,694,148	6,896,457
Insurance Assignments
Carrying Value	32,477,246	31,511,195
Estimated Carrying Value	32,477,246	31,511,195
ShortTermInvestments1Member
Carrying Value	27,560,040	16,915,808
Estimated Carrying Value	27,560,040	16,915,808
MortgageServicingRights2Member
Carrying Value	18,872,362	12,679,755
Estimated Carrying Value	25,496,832	13,897,160
BankAndOtherLoansPayable1Member
Carrying Value	(152,137,341)	(130,991,667)
Estimated Carrying Value	(152,137,341)	(130,991,667)
Fair Value, Inputs, Level 2
Estimated Carrying Value	191,850,749	150,507,158
Fair Value, Inputs, Level 3 | Residential Mortgage
Estimated Carrying Value	61,357,393	47,193,950
Fair Value, Inputs, Level 3 | Residential Construction
Estimated Carrying Value	40,700,003	34,751,443
Fair Value, Inputs, Level 3 | Commercial Loan
Estimated Carrying Value	53,299,800	34,778,136
Fair Value, Inputs, Level 3 | MortgageLoansNet1Member
Estimated Carrying Value	155,357,196	217,646,189
Fair Value, Inputs, Level 3 | LoansHeldForSale1Member
Estimated Carrying Value	192,289,854	116,723,529
Fair Value, Inputs, Level 3 | PolicyLoanMember
Estimated Carrying Value	6,694,148	6,896,457
Fair Value, Inputs, Level 3 | Insurance Assignments
Estimated Carrying Value	32,477,246	31,511,195
Fair Value, Inputs, Level 3 | ShortTermInvestments1Member
Estimated Carrying Value	27,560,040	16,915,808
Fair Value, Inputs, Level 3 | MortgageServicingRights2Member
Estimated Carrying Value	25,496,832	13,897,160
Fair Value, Inputs, Level 3 | BankAndOtherLoansPayable1Member
Estimated Carrying Value	$ (152,137,341)	$ (130,991,667)

Note 17_ Accumulated Other C161

Note 17: Accumulated Other Comprehensive Income: Schedule of Changes in accumulated other comprehensive income (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Details
Accumulated other comprehensive income, Unrealized gains (losses) on Available for Sale Securities	$ 996,343	$ (1,289,508)
Reclassification adjustment for net realized gains in net income	160,575	113,751
Net unrealized gains (losses) before taxes	1,156,918	(1,175,757)
Tax (expense) benefit	(399,228)	404,414
Net Unrealized Gain (Loss)	757,690	(771,343)
Net Potential unrealized gains (losses) for derivative mortgage loans before taxes	10,639	17,423
Potential Tax Expense Benefit	(4,149)	(6,795)
Net Unrealized Gain (Loss) including Derivatie Bank Loans and Tax benefit	6,490	10,628
Other comprehensive income changes	$ 764,180	$ (760,715)

Note 17_ Accumulated Other C162

Note 17: Accumulated Other Comprehensive Income: Accumulated Balances of Other Comprehensive Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Unrealized net gains on available- for-sale securities and trust investments	$ (490,850)	$ 280,493	$ 346,341
Increase (Decrease) in Unrealized net gains on available- for-sale securities and trust investments	757,690	(771,343)	(65,848)
Unrealized net gains on available- for-sale securities and trust investments	266,840	(490,850)	280,493
Unrealized gains (losses) on derivative bank loan interest rate swaps	(8,508)	(19,136)	(35,569)
Increase (Decrease) in Unrealized gains (losses) on derivative bank loan interest rate swaps	6,490	10,628	16,433
Unrealized gains (losses) on derivative bank loan interest rate swaps	(2,018)	(8,508)	(19,136)
Other comprehensive income, Balance	(499,358)	261,357	310,772
Increase (Decrease) in Other comprehensive income, Balance	764,180	(760,715)	(49,415)
Other comprehensive income, Balance	$ 264,822	$ (499,358)	$ 261,357

Note 18_ Derivative Instrume163

Note 18: Derivative Instruments: Schedule of Derivative Assets at Fair Value (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Details
Fair Value of Asset Derivatives, Interest rate lock and forward sales commitments	$ 6,911,544	$ 7,779,162
Fair Value of Liability Derivatives, Interest rate lock and forward sales commitments	102,212	107,667
Fair Value of Liability Derivatives, Call Options	109,474	16,342
Fair Value of Liability Derivatives, Put Options	26,494	28,829
Fair Value of Liability Derivatives, Interest Rate Swaps	3,308	13,947
Fair Value of Asset Derivatives, Total	6,911,544	7,779,162
Fair Value of Liability Derivatives, Total	$ 241,488	$ 166,785

Note 18_ Derivative Instrume164

Note 18: Derivative Instruments: Schedule of Gains and Losses on Derivatives (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Details
Gain (Loss) on Derivatives, Interest Rate Swaps	$ 10,639	$ 17,423
Sub total Gain on Derivatives	10,639	17,423
Tax Effect Gain on Derivatives	4,149	6,795
Gain (Loss) on Derivatives, Total	$ 6,490	$ 10,628

Note 19_ Acquisitions_ The E165

Note 19: Acquisitions: The Estimated Fair Values of The Assets Acquired and The Liabilities Assumed At The Date of Acquisition (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2014
First Guaranty Insurance Company
Fair Value of Assets Acquired	$ 6,753,000
American Funeral Financial
Fair Value of Assets Acquired		$ 15,011,193
FixedMaturitySecuritiesHeldToMaturityMember | First Guaranty Insurance Company
Fair Value of Assets Acquired	43,878,084
EquitySecuritiesAvailableForSaleMember | First Guaranty Insurance Company
Fair Value of Assets Acquired	646,335
MortgageLoansOnRealEstate1Member | First Guaranty Insurance Company
Fair Value of Assets Acquired	4,528,582
RealEstateHeldForInvestmentMember | First Guaranty Insurance Company
Fair Value of Assets Acquired	528,947
PolicyLoans1Member | First Guaranty Insurance Company
Fair Value of Assets Acquired	145,953
ShortTermInvestments1Member | First Guaranty Insurance Company
Fair Value of Assets Acquired	5,358,403
AccruedInvestmentIncomeMember | First Guaranty Insurance Company
Fair Value of Assets Acquired	585,985
CashAndCashEquivalents1Member | First Guaranty Insurance Company
Fair Value of Assets Acquired	2,424,480
ReceivablesMember | First Guaranty Insurance Company
Fair Value of Assets Acquired	73,347
PropertyAndEquipmentMember | First Guaranty Insurance Company
Fair Value of Assets Acquired	21,083
PropertyAndEquipmentMember | American Funeral Financial
Fair Value of Assets Acquired		760,120
DeferredTaxAssetMember | First Guaranty Insurance Company
Fair Value of Assets Acquired	1,190,862
ReceivableFromReinsurersMember | First Guaranty Insurance Company
Fair Value of Assets Acquired	34,948
OtherMember | First Guaranty Insurance Company
Fair Value of Assets Acquired	57,768
OtherMember | American Funeral Financial
Fair Value of Assets Acquired		1,379,158
TotalAssetsMember | First Guaranty Insurance Company
Fair Value of Assets Acquired	59,474,777
TotalAssetsMember | American Funeral Financial
Fair Value of Assets Acquired		16,379,193
FutureLifeAnnuityAndOtherBenefitsMember | First Guaranty Insurance Company
Fair Value of Assets Acquired	(52,648,838)
AccountsPayable1Member | First Guaranty Insurance Company
Fair Value of Assets Acquired	(6,953)
OtherLiabilitiesAndAccruedExpensesMember | First Guaranty Insurance Company
Fair Value of Assets Acquired	(65,986)
OtherLiabilitiesAndAccruedExpensesMember | American Funeral Financial
Fair Value of Assets Acquired		(1,368,000)
TotalLiabilitiesMember | First Guaranty Insurance Company
Fair Value of Assets Acquired	$ (52,721,777)
TotalLiabilitiesMember | American Funeral Financial
Fair Value of Assets Acquired		(1,368,000)
OtherLoansMember | American Funeral Financial
Fair Value of Assets Acquired		11,866,193
Goodwill1Member | American Funeral Financial
Fair Value of Assets Acquired		$ 2,373,722

Note 19_ Acquisitions_ Busin166

Note 19: Acquisitions: Business Acquisition, Pro Forma Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
First Guaranty Insurance Company
Business Acquisition, Pro Forma Revenue	$ 306,471,770	$ 284,812,830	$ 229,483,646
Business Acquisition, Pro Forma Net Income (Loss)	$ 11,923,653	$ 12,627,709	$ 8,044,482
Business Acquisition, Pro Forma Earnings Per Share, Basic	$ 0.95	$ 0.88	$ 0.57
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$ 0.93	$ 0.85	$ 0.55
American Funeral Financial
Business Acquisition, Pro Forma Revenue	$ 304,334,901	$ 280,354,832	$ 227,379,128
Business Acquisition, Pro Forma Net Income (Loss)	$ 12,188,627	$ 13,351,441	$ 8,458,589
Business Acquisition, Pro Forma Earnings Per Share, Basic	$ 0.96	$ 0.93	$ 0.59
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$ 0.94	$ 0.90	$ 0.58

Note 20_ Mortgage Servicing 167

Note 20: Mortgage Servicing Rights: Schedule of mortgage servicing rights (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Details
Mortgage servicing rights	$ 8,603,154	$ 6,217,551
Amortization of MSR's	(2,410,547)	(1,372,543)
MortgageServicingRights	18,872,362	12,679,755
Estimated fair value of MSRs	$ 25,496,832	$ 13,897,160

Note 20_ Mortgage Servicing 168

Note 20: Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights Amortization (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2022
Details
Estimated Amortization of Mortgage Service Rights	$ 2,696,052	$ 2,696,052	$ 2,696,052	$ 2,696,052	$ 2,696,052
Amortization of Mortgage Servicing Rights Thereafter						$ 5,392,104

Note 20_ Mortgage Servicing 169

Note 20: Mortgage Servicing Rights: Schedule of Other Revenues (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Revenue, Net	$ 5,865,207	$ 3,984,695	$ 2,764,633
Contractual Servicing Fees
Other Revenue, Net	5,661,699	3,864,454	2,641,234
Late fees
Other Revenue, Net	$ 203,509	$ 120,241	$ 123,399

Note 20_ Mortgage Servicing 170

Note 20: Mortgage Servicing Rights: Summary of Unpaid Principal Balances of the Servicing Portfolio (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Servicing Unpaid Principal Balance	$ 2,720,441,340	$ 1,861,835,430	$ 1,227,249,143

Note 20_ Mortgage Servicing 171

Note 20: Mortgage Servicing Rights: Assumptions used in determining MSR value (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Prepayment Speeds	3.77%	3.02%	2.87%
Average Life in Years of MSR	6.52	5.24	4.96
Discount Rate	10.01%	10.00%	10.00%

Note 21_ Correction of Errors_

Note 21: Correction of Errors: Schedule of Error Corrections and Prior Period Adjustments (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 30, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	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, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Loans held for sale					$ 211,453,006								$ 189,139,832	$ 211,453,006
Receivables, net					6,060,994								6,373,364	6,060,994
Other assets					11,439,273								10,413,394	11,439,273
Total Assets					840,473,166								951,678,583	840,473,166
Future life, annuity, and other benefits					515,789,254								584,067,692	515,789,254
Bank and other loans payable					131,005,614								152,140,679	131,005,614
Income taxes					20,412,889								24,318,869	20,412,889
Total liabilities					722,756,487								819,119,452	722,756,487
Accumulated other comprehensive income, net of taxes					(499,358)								264,822	(499,358)
Retained earnings					60,525,404								67,409,204	60,525,404
Balance					117,716,679				$ 103,688,971				132,559,131	117,716,679	$ 103,688,971	$ 87,751,189
Total Liabilities and Stockholders' Equity					840,473,166								951,678,583	840,473,166
Mortgage fee income													183,542,796	171,517,284	126,807,473
Total revenues													304,334,901	280,354,832	225,047,149
Increase in future policy benefits													21,322,195	17,057,764	17,905,914
Commissions													88,634,494	80,900,618	59,374,542
Provision for loan loss reserve													1,700,000	3,449,103	1,000,000
Costs related to funding mortgage loans													9,191,488	8,901,511	6,451,319
Total benefits and expenses													284,631,670	259,341,360	211,320,198
Earnings before income taxes													19,703,231	21,013,472	13,726,951
Income tax expense													7,514,604	7,662,031	5,510,119
Net earnings													$ 12,188,627	$ 13,351,441	$ 8,216,832
Net earnings per Class A Equivalent common share (1)													$ 0.82	$ 0.92	$ 0.59
Net earnings per Class A equivalent common share - assuming dilution(1)													$ 0.81	$ 0.89	$ 0.57
Net unrealized gains on derivative instruments													$ 6,490	$ 10,628	$ 16,433
Other comprehensive income													764,180	(760,715)	(49,415)
Provision for deferred and other income taxes													6,130,644	4,826,010	3,856,456
Loans originated for sale													(3,098,710,299)	(2,861,404,239)	(2,044,909,613)
Proceeds from loans sold													3,246,127,714	2,933,300,742	2,102,740,825
Net gains on loans sold													(137,682,984)	(131,130,447)	(93,144,155)
Future life and other benefits													17,989,595	15,078,397	13,930,657
Other operating assets and liabilities													(5,125,376)	4,456,090	(1,589,164)
Net cash provided by (used in) operating activities													35,535,014	(28,113,387)	(12,463,558)
Net change in warehouse line borrowings													8,325,432	12,282,139	43,479,367
Net cash provided by financing activities													18,990,088	21,938,700	49,843,370
ScenarioAsOriginallyReportedMember
Loans held for sale					115,286,455								82,491,091	115,286,455
Receivables, net					16,026,100								18,870,119	16,026,100
Other assets					7,100,869								6,891,468	7,100,869
Total Assets					749,933,317								854,004,671	749,933,317
Future life, annuity, and other benefits					517,177,388								585,610,063	517,177,388
Bank and other loans payable					40,908,915								53,718,548	40,908,915
Income taxes					25,052,059								27,904,294	25,052,059
Total liabilities					638,687,092								725,825,117	638,687,092
Accumulated other comprehensive income, net of taxes					1,533,828				1,438,566				264,822	1,533,828	1,438,566	1,218,396
Retained earnings					52,021,764				44,101,252				63,029,627	52,021,764	44,101,252	39,666,587
Balance					111,246,225								128,179,554	111,246,225
Total Liabilities and Stockholders' Equity					749,933,317								854,004,671	749,933,317
Mortgage fee income													186,416,311	174,323,452	128,696,998
Total revenues													307,208,416	283,161,000	226,936,674
Increase in future policy benefits													21,476,432	17,212,001	18,060,151
Commissions													87,762,583	81,935,623	59,876,675
Provision for loan loss reserve													4,688,754	6,295,043	3,053,403
Costs related to funding mortgage loans													8,756,791	8,864,404	6,877,069
Total benefits and expenses													286,468,053	263,339,435	214,455,721
Earnings before income taxes													20,740,363	19,821,565	12,480,953
Income tax expense													(6,460,859)	(7,198,685)	(4,726,305)
Net earnings													$ 14,279,504	$ 12,622,880	$ 7,754,648
Net earnings per Class A Equivalent common share (1)													$ 0.96	$ 0.87	$ 0.56
Net earnings per Class A equivalent common share - assuming dilution(1)													$ 0.94	$ 0.84	$ 0.54
Net unrealized gains on derivative instruments													$ 6,490	$ 866,605	$ 286,018
Other comprehensive income													764,180	95,262	220,170
Provision for deferred and other income taxes													5,076,899	4,909,927	3,245,004
Future life and other benefits													18,143,832	15,232,634	14,084,894
Receivables for mortgage loans sold													20,216,621	(47,752,055)	7,362,353
Other operating assets and liabilities													(8,473,503)	4,890,770	(135,279)
Net cash provided by (used in) operating activities													43,860,446	(15,831,248)	31,015,809
Net cash provided by financing activities													$ 10,664,656	9,656,561	6,364,003
AdjustmentAMember
Accumulated other comprehensive income, net of taxes					(2,033,186)				(1,177,209)					(2,033,186)	(1,177,209)	(907,624)
Retained earnings					2,033,186				1,177,209					2,033,186	1,177,209	907,624
Mortgage fee income														1,403,240	441,943
Total revenues														1,403,240	441,943
Earnings before income taxes														1,403,240	441,943
Income tax expense														(547,263)	(172,358)
Net earnings														$ 855,977	$ 269,585
Net earnings per Class A Equivalent common share (1)													$ 0	$ 0.06	$ 0.02
Net earnings per Class A equivalent common share - assuming dilution(1)													$ 0	$ 0.06	$ 0.02
Net unrealized gains on derivative instruments														$ (855,977)	$ (269,585)
Other comprehensive income														(855,977)	(269,585)
Scenario, Previously Reported
Loans held for sale					115,286,455								$ 82,491,091	115,286,455
Receivables, net					16,026,100								18,870,119	16,026,100
Other assets					7,100,869								6,891,468	7,100,869
Total Assets					749,933,317								854,004,671	749,933,317
Future life, annuity, and other benefits					517,177,388								585,610,063	517,177,388
Bank and other loans payable					40,908,915								53,718,548	40,908,915
Income taxes					25,052,059								27,904,294	25,052,059
Total liabilities					638,687,092								725,825,117	638,687,092
Accumulated other comprehensive income, net of taxes					(499,358)				261,357				264,822	(499,358)	261,357	310,772
Retained earnings					54,054,950				45,278,461				63,029,627	54,054,950	45,278,461	40,574,211
Balance					111,246,225								128,179,554	111,246,225
Total Liabilities and Stockholders' Equity					749,933,317								854,004,671	749,933,317
Mortgage fee income													186,416,311	175,726,692	129,138,941
Total revenues	$ 74,147,490	$ 84,393,427	$ 81,312,192	$ 67,355,307	66,671,215	$ 74,062,877	$ 77,292,625	$ 66,537,523	60,662,683	$ 61,012,516	$ 60,200,879	$ 45,502,539	307,208,416	284,564,240	227,378,617
Increase in future policy benefits													21,476,432	17,212,001	18,060,151
Commissions													87,762,583	81,935,623	59,876,675
Provision for loan loss reserve													4,688,754	6,295,043	3,053,403
Costs related to funding mortgage loans													8,756,791	8,864,404	6,877,069
Total benefits and expenses													286,468,053	263,339,435	214,455,721
Earnings before income taxes													20,740,363	21,224,805	12,922,896
Income tax expense	$ 233,548	$ 2,190,206	$ 2,456,885	$ 1,580,220	$ 426,823	$ 2,346,210	$ 2,867,957	$ 2,104,958	$ 1,864,368	$ 961,140	$ 1,870,803	$ 202,352	(6,460,859)	(7,745,948)	(4,898,663)
Net earnings													$ 14,279,504	$ 13,478,857	$ 8,024,233
Net earnings per Class A Equivalent common share (1)	$ 0.12	$ 0.32	$ 0.35	$ 0.18	$ 0.10	$ 0.28	$ 0.32	$ 0.24	$ 0.20	$ 0.12	$ 0.22	$ 0.03	$ 0.96	$ 0.93	$ 0.58
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.12	$ 0.31	$ 0.34	$ 0.17	$ 0.10	$ 0.26	$ 0.31	$ 0.23	$ 0.19	$ 0.12	$ 0.22	$ 0.03	$ 0.94	$ 0.90	$ 0.56
Net unrealized gains on derivative instruments													$ 6,490	$ 10,628	$ 16,433
Other comprehensive income													764,180	(760,715)	(49,415)
Provision for deferred and other income taxes													5,076,899	4,909,927	3,245,004
Future life and other benefits													18,143,832	15,232,634	14,084,894
Receivables for mortgage loans sold													20,216,621	(47,752,055)	7,362,353
Other operating assets and liabilities													(8,473,503)	4,890,770	(135,279)
Net cash provided by (used in) operating activities													43,860,446	(15,831,248)	31,015,809
Net cash provided by financing activities													10,664,656	9,656,561	6,364,003
AdjustmentBMember
Loans held for sale					$ 96,166,551								106,648,741	96,166,551
Receivables, net					(9,965,106)								(12,496,755)	(9,965,106)
Other assets					4,338,404								3,521,926	4,338,404
Total Assets					90,539,849								97,673,912	90,539,849
Future life, annuity, and other benefits					(1,388,134)								(1,542,371)	(1,388,134)
Bank and other loans payable					90,096,699								98,422,131	90,096,699
Income taxes					(4,639,170)								(3,585,425)	(4,639,170)
Total liabilities					84,069,395								93,294,335	84,069,395
Retained earnings					6,470,454				$ 6,597,870				4,379,577	6,470,454	6,597,870	6,405,271
Balance					6,470,454								4,379,577	6,470,454
Total Liabilities and Stockholders' Equity					90,539,849								97,673,912	90,539,849
Mortgage fee income													(2,873,515)	(4,209,408)	(2,331,468)
Total revenues													(2,873,515)	(4,209,408)	(2,331,468)
Increase in future policy benefits													(154,237)	(154,237)	(154,237)
Commissions													871,911	(1,035,005)	(502,133)
Provision for loan loss reserve													(2,988,754)	(2,845,940)	(2,053,403)
Costs related to funding mortgage loans													434,697	37,107	(425,750)
Total benefits and expenses													(1,836,383)	(3,998,075)	(3,135,523)
Earnings before income taxes													(1,037,132)	(211,333)	804,055
Income tax expense													(1,053,745)	83,917	(611,456)
Net earnings													$ (2,090,877)	$ (127,416)	$ 192,599
Net earnings per Class A Equivalent common share (1)													$ (0.14)	$ (0.01)	$ 0.01
Net earnings per Class A equivalent common share - assuming dilution(1)													$ (0.14)	$ (0.01)	$ 0.01
Provision for deferred and other income taxes													$ 1,053,745	$ (83,917)	$ 611,452
Loans originated for sale													(3,098,710,299)	(2,861,404,239)	(2,044,909,613)
Proceeds from loans sold													3,246,127,714	2,933,300,742	2,102,740,825
Net gains on loans sold													(137,682,984)	(131,130,447)	(93,144,155)
Future life and other benefits													(154,237)	(154,237)	(154,237)
Receivables for mortgage loans sold													(20,216,621)	47,752,055	(7,362,353)
Other operating assets and liabilities													3,348,127	(434,680)	(1,453,885)
Net cash provided by (used in) operating activities													(8,325,432)	(12,282,139)	(43,479,367)
Net change in warehouse line borrowings													8,325,432	12,282,139	43,479,367
Net cash provided by financing activities													8,325,432	12,282,139	43,479,367
Restatement Adjustment
Loans held for sale					211,453,006								189,139,832	211,453,006
Receivables, net					6,060,994								6,373,364	6,060,994
Other assets					11,439,273								10,413,394	11,439,273
Total Assets					840,473,166								951,678,583	840,473,166
Future life, annuity, and other benefits					515,789,254								584,067,692	515,789,254
Bank and other loans payable					131,005,614								152,140,679	131,005,614
Income taxes					20,412,889								24,318,869	20,412,889
Total liabilities					722,756,487								819,119,452	722,756,487
Accumulated other comprehensive income, net of taxes					(499,358)				261,357				264,822	(499,358)	261,357	310,772
Retained earnings					60,525,404				51,876,331				67,409,204	60,525,404	51,876,331	$ 46,979,482
Balance					117,716,679								132,559,131	117,716,679
Total Liabilities and Stockholders' Equity					840,473,166								951,678,583	840,473,166
Mortgage fee income													183,542,796	171,517,284	126,807,473
Total revenues	$ 71,842,669	$ 82,948,657	$ 80,087,227	$ 69,456,348	64,357,046	$ 74,985,622	$ 75,187,618	$ 65,824,546	60,279,687	$ 60,515,415	$ 58,408,816	$ 45,843,231	304,334,901	280,354,832	225,047,149
Increase in future policy benefits													21,322,195	17,057,764	17,905,914
Commissions													88,634,494	80,900,618	59,374,542
Provision for loan loss reserve													1,700,000	3,449,103	1,000,000
Costs related to funding mortgage loans													9,191,488	8,901,511	6,451,319
Total benefits and expenses													284,631,670	259,341,360	211,320,198
Earnings before income taxes													19,703,231	21,013,472	13,726,951
Income tax expense	$ 622,061	$ 2,390,525	$ 2,968,879	$ 1,533,139	$ 954,297	$ 2,554,134	$ 2,454,812	$ 1,698,788	$ 3,025,284	$ 919,546	$ 1,685,203	$ (119,914)	(7,514,604)	(7,662,031)	(5,510,119)
Net earnings													$ 12,188,627	$ 13,351,441	$ 8,216,832
Net earnings per Class A Equivalent common share (1)	$ 0.03	$ 0.28	$ 0.34	$ 0.17	$ 0.16	$ 0.30	$ 0.27	$ 0.19	$ 0.28	$ 0.12	$ 0.20	$ (0.01)	$ 0.82	$ 0.92	$ 0.59
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.03	$ 0.27	$ 0.33	$ 0.17	$ 0.15	$ 0.29	$ 0.26	$ 0.18	$ 0.27	$ 0.11	$ 0.20	$ (0.01)	$ 0.81	$ 0.89	$ 0.57
Net unrealized gains on derivative instruments													$ 6,490	$ 10,628	$ 16,433
Other comprehensive income													764,180	(760,715)	(49,415)
Provision for deferred and other income taxes													6,130,644	4,826,010	3,856,456
Loans originated for sale													(3,098,710,299)	(2,861,404,239)	(2,044,909,613)
Proceeds from loans sold													3,246,127,714	2,933,300,742	2,102,740,825
Net gains on loans sold													(137,682,984)	(131,130,447)	(93,144,155)
Future life and other benefits													17,989,595	15,078,397	13,930,657
Other operating assets and liabilities													(5,125,376)	4,456,090	(1,589,164)
Net cash provided by (used in) operating activities													35,535,014	(28,113,387)	(12,463,558)
Net change in warehouse line borrowings													8,325,432	12,282,139	43,479,367
Net cash provided by financing activities													$ 18,990,088	$ 21,938,700	$ 49,843,370

Note 22_ Impact of Restateme173

Note 22: Impact of Restatement Adjustments on Quarterly Financial Statements (unaudited): Schedule of Quarterly Financial Information (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 30, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	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, 2016	Dec. 31, 2015	Dec. 31, 2014
Total revenues													$ 304,334,901	$ 280,354,832	$ 225,047,149
Benefits and Expenses													284,631,670	259,341,360	211,320,198
Income tax expense													$ (7,514,604)	$ (7,662,031)	$ (5,510,119)
Net earnings per Class A Equivalent common share (1)													$ 0.82	$ 0.92	$ 0.59
Net earnings per Class A equivalent common share - assuming dilution(1)													$ 0.81	$ 0.89	$ 0.57
Scenario, Previously Reported
Total revenues	$ 74,147,490	$ 84,393,427	$ 81,312,192	$ 67,355,307	$ 66,671,215	$ 74,062,877	$ 77,292,625	$ 66,537,523	$ 60,662,683	$ 61,012,516	$ 60,200,879	$ 45,502,539	$ 307,208,416	$ 284,564,240	$ 227,378,617
Benefits and Expenses	72,117,972	77,427,792	73,758,739	63,163,550	64,779,238	67,700,286	69,808,663	61,051,248	55,995,147	58,348,652	55,224,633	44,887,289
Earnings (loss) before income taxes	2,029,518	6,965,635	7,553,453	4,191,757	1,891,977	6,362,591	7,483,962	5,486,275	4,667,536	2,663,864	4,976,246	615,250
Income tax expense	(233,548)	(2,190,206)	(2,456,885)	(1,580,220)	(426,823)	(2,346,210)	(2,867,957)	(2,104,958)	(1,864,368)	(961,140)	(1,870,803)	(202,352)	$ 6,460,859	$ 7,745,948	$ 4,898,663
Net Earnings	$ 1,795,970	$ 4,775,429	$ 5,096,568	$ 2,611,537	$ 1,465,154	$ 4,016,381	$ 4,616,005	$ 3,381,317	$ 2,803,168	$ 1,702,724	$ 3,105,443	$ 412,898
Net earnings per Class A Equivalent common share (1)	$ 0.12	$ 0.32	$ 0.35	$ 0.18	$ 0.10	$ 0.28	$ 0.32	$ 0.24	$ 0.20	$ 0.12	$ 0.22	$ 0.03	$ 0.96	$ 0.93	$ 0.58
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.12	$ 0.31	$ 0.34	$ 0.17	$ 0.10	$ 0.26	$ 0.31	$ 0.23	$ 0.19	$ 0.12	$ 0.22	$ 0.03	$ 0.94	$ 0.90	$ 0.56
Restatement Adjustment
Total revenues	$ 71,842,669	$ 82,948,657	$ 80,087,227	$ 69,456,348	$ 64,357,046	$ 74,985,622	$ 75,187,618	$ 65,824,546	$ 60,279,687	$ 60,515,415	$ 58,408,816	$ 45,843,231	$ 304,334,901	$ 280,354,832	$ 225,047,149
Benefits and Expenses	70,769,933	76,375,127	72,101,342	65,385,268	61,107,208	68,073,150	68,772,252	61,388,750	53,378,211	57,958,096	53,921,094	46,062,797
Earnings (loss) before income taxes	1,072,736	6,573,530	7,985,885	4,071,080	3,249,838	6,912,472	6,415,366	4,435,796	6,901,476	2,557,319	4,487,722	(219,566)
Income tax expense	(622,061)	(2,390,525)	(2,968,879)	(1,533,139)	(954,297)	(2,554,134)	(2,454,812)	(1,698,788)	(3,025,284)	(919,546)	(1,685,203)	119,914	$ 7,514,604	$ 7,662,031	$ 5,510,119
Net Earnings	$ 450,675	$ 4,183,005	$ 5,017,006	$ 2,537,941	$ 2,295,541	$ 4,358,338	$ 3,960,554	$ 2,737,008	$ 3,876,192	$ 1,637,773	$ 2,802,519	$ (99,652)
Net earnings per Class A Equivalent common share (1)	$ 0.03	$ 0.28	$ 0.34	$ 0.17	$ 0.16	$ 0.30	$ 0.27	$ 0.19	$ 0.28	$ 0.12	$ 0.20	$ (0.01)	$ 0.82	$ 0.92	$ 0.59
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.03	$ 0.27	$ 0.33	$ 0.17	$ 0.15	$ 0.29	$ 0.26	$ 0.18	$ 0.27	$ 0.11	$ 0.20	$ (0.01)	$ 0.81	$ 0.89	$ 0.57