Security National Financial (SNFCA) 10-Q/A 25 Aug 17 2017 Q1 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 11, 2017
Entity Registrant Name	SECURITY NATIONAL FINANCIAL CORP
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Trading Symbol	snfca
Amendment Flag	true
Amendment Description	1
Entity Central Index Key	318,673
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Class A Common Stock
Entity Common Stock, Shares Outstanding		13,820,079
Class C Common Stock
Entity Common Stock, Shares Outstanding		2,005,026

Balance Sheet

Balance Sheet - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Investments:
Fixed maturity securities, held to maturity, at amortized cost	$ 186,445,498	$ 184,979,644
Equity securities, available for sale, at estimated fair value	10,735,239	10,573,356
Mortgage loans on real estate and construction loans, held for investment net of allowances for loan losses of $1,955,443 and $1,748,783 for 2017 and 2016	134,123,773	149,181,578
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	151,417,470	145,165,921
Policy loans and other investments, net of allowances for doubtful accounts of $1,050,111 and $1,119,630 for 2017 and 2016	41,773,152	40,937,146
Short-term investments	28,346,922	27,560,040
Accrued investment income	3,008,839	2,972,596
Total investments	555,850,893	561,370,281
Cash and cash equivalents	85,069,717	38,987,430
Mortgage loans sold to investors	151,891,428	189,139,832
Receivables, net	6,302,801	6,373,364
Restricted assets	10,230,360	10,391,394
Cemetery perpetual care trust investments	4,211,337	4,131,885
Receivable from reinsurers	13,227,385	13,079,668
Cemetery land and improvements	10,641,141	10,672,836
Deferred policy and pre-need contract acquisition costs	71,643,040	69,118,745
Mortgage servicing rights, net	19,432,993	18,872,362
Property and equipment, net	8,478,347	8,791,522
Value of business acquired	7,375,084	7,570,300
Goodwill	2,765,570	2,765,570
Other assets	12,397,267	10,413,394
Total Assets	959,517,363	951,678,583
Liabilities
Future life, annuity, and other benefits	588,248,948	584,067,692
Unearned premium reserve	4,405,472	4,469,771
Bank and other loans payable	153,594,078	152,140,679
Deferred pre-need cemetery and mortuary contract revenues	12,350,470	12,360,249
Cemetery perpetual care obligation	3,624,895	3,598,580
Accounts payable	3,113,519	4,213,109
Other liabilities and accrued expenses	34,128,938	33,950,503
Income taxes	25,370,027	24,318,869
Total liabilities	824,836,347	819,119,452
Common Stock:
Additional paid-in capital	35,095,594	34,813,246
Accumulated other comprehensive income, net of taxes	286,114	264,822
Retained earnings	69,265,920	67,409,204
Treasury stock at cost - 686,549 Class A shares in 2017 and 704,122 Class A shares in 2016	(1,410,016)	(1,370,611)
Total stockholders' equity	134,681,016	132,559,131
Total Liabilities and Stockholders' Equity	959,517,363	951,678,583
Class A Common Stock
Common Stock:
Common stock	27,640,156	27,638,012
Class B Common Stock
Common Stock:
Common stock
Class C Common Stock
Common Stock:
Common stock	3,803,248	3,804,458
Preferred Stock
Preferred Stock:
Preferred stock

Balance Sheet Parenthetical

Balance Sheet Parenthetical - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Allowance for losses on mortgage loans on real estate and construction loans, held for investment	$ 1,955,443	$ 1,748,783
Accumulated depreciation on real estate held for investment	16,732,122	16,138,439
Allowance for doubtful accounts on policy and other loans	$ 1,050,111	$ 1,119,630
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	13,820,078	13,819,006
Treasury Stock	686,549	704,122
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	1,901,624	1,902,229

Income Statement

Income Statement - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Insurance premiums and other considerations	$ 17,357,124	$ 14,451,575
Net investment income	9,563,282	8,992,191
Net mortuary and cemetery sales	3,358,973	3,245,856
Realized gains on investments and other assets	145,330	97,922
Other than temporary impairments on investments	(52,139)	(73,630)
Mortgage fee income	38,427,854	41,212,008
Other income	2,028,873	1,530,426
Total revenues	70,829,297	69,456,348
Benefits and expenses:
Death benefits	8,794,598	7,824,001
Surrenders and other policy benefits	857,531	518,321
Increase in future policy benefits	5,568,042	4,121,701
Amortization of deferred policy and pre-need acquisition costs and value of business acquired	2,264,039	2,212,836
Selling, general and administrative expenses:
Commissions	16,355,048	19,210,968
Personnel	18,589,687	17,197,372
Advertising	1,310,674	1,078,010
Rent and rent related	2,139,538	2,064,325
Depreciation on property and equipment	625,812	521,455
Costs related to funding mortgage loans	2,219,649	2,632,754
Other expenses	7,430,951	6,480,711
Interest expense	1,254,039	1,064,195
Cost of goods and services sold-mortuaries and cemeteries	521,919	458,619
Total benefits and expenses	67,931,527	65,385,268
Earnings before income taxes	2,897,770	4,071,080
Income tax expense	(1,037,770)	(1,533,139)
Net earnings	$ 1,860,000	$ 2,537,941
Net earnings per Class A Equivalent common share (1)	$ 0.12	$ 0.17
Net earnings per Class A Equivalent common share-assuming dilution (1)	$ 0.12	$ 0.17
Weighted-average Class A equivalent common share outstanding (1)	15,058,153	14,656,450
Weighted-average Class A equivalent common shares outstanding-assuming dilution (1)	15,527,996	15,112,278

Comprehensive Income Statement

Comprehensive Income Statement - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Comprehensive Income Statement
Net earnings	$ 1,860,000	$ 2,537,941
Other comprehensive income:
Net unrealized gains on derivative instruments	973	1,669
Net unrealized gains on available for sale securities	20,319	297,897
Other comprehensive income	21,292	299,566
Comprehensive income	$ 1,881,292	$ 2,837,507

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, 2015	$ 26,218,200	$ 3,419,280	$ 30,232,582	$ (499,358)	$ 60,525,404	$ (2,179,429)	$ 117,716,679
Other comprehensive income				299,566			299,566
Grant of stock options			84,452				84,452
Exercise of stock options	56,920		4,367				61,287
Sale of treasury stock			136,826			149,639	286,465
Net earnings					2,537,941		2,537,941
Stock Dividends	274	12,768	30,779		(43,821)
Balance at Mar. 31, 2016	26,275,394	3,432,048	30,489,006	(199,792)	63,019,524	(2,029,790)	120,986,390
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
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
Other comprehensive income				21,292			21,292
Grant of stock options			101,996				101,996
Sale of treasury stock			178,002			146,065	324,067
Purchase of treasury stock						(185,470)	(185,470)
Net earnings					1,860,000		1,860,000
Stock Dividends	930	4	2,350		(3,284)
Conversion Class C to Class A	1,214	(1,214)
Balance at Mar. 31, 2017	$ 27,640,156	$ 3,803,248	$ 35,095,594	$ 286,114	$ 69,265,920	$ (1,410,016)	$ 134,681,016

Statement of Cash Flows

Statement of Cash Flows - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Cash flows from operating activities:
Net cash provided by operating activities	$ 30,431,376	$ 27,275,404
Securities held to maturity:
Purchase-fixed maturity securities	(2,575,997)	(4,481,397)
Calls and maturities - fixed maturity securities	830,595	2,470,005
Securities available for sale:
Purchase - equity securities	(4,190,458)	(1,651,302)
Sales - equity securities	4,092,734	1,487,110
Purchase of short-term investments	(3,053,797)	(3,258,070)
Sales of short-term investments	2,266,915	2,364,571
Purchase of restricted assets	174,197	1,242,342
Changes in assets for perpetual care trusts	(104,731)	(51,461)
Amount received for perpetual care trusts	26,315	11,735
Mortgage loans, policy loans, and other investments made	(108,649,435)	(112,920,364)
Payments received for mortgage loans, policy loans and other investments	127,506,014	99,348,725
Purchase of property and equipment	(312,640)	(1,084,975)
Purchase of real estate	(3,103,471)	(3,432,051)
Sale of real estate	2,891,887	843,701
Net cash provided by (used in) investing activities	15,798,128	(19,111,431)
Cash flows from financing activities:
Annuity contract receipts	3,051,883	2,516,596
Annuity contract withdrawals	(4,468,624)	(3,025,833)
Proceeds from stock options exercised		61,287
Purchase of treasury stock	(185,470)
Repayment of bank loans on notes and contracts	(673,454)	(390,168)
Proceeds from borrowing on bank loans	7,255,187	737,232
Net change in warehouse line borrowings	(6,376,739)	(1,412,370)
Change in line of credit borrowings	1,250,000
Net cash used in financing activities	(147,217)	(1,513,256)
Net change in cash and cash equivalents	46,082,287	6,650,717
Cash and cash equivalents at beginning of period	38,987,430	40,053,242	$ 40,053,242
Cash and cash equivalents at end of period	85,069,717	46,703,959	$ 38,987,430
Cash paid during the year for:
Interest (net of amount capitalized)	1,234,420	1,079,891
Income taxes (net of refunds)	(3,215)	12,321
Non Cash Investing and Financing Activities:
Accrued real estate construction costs and retainage	6,794,065
Transfer of loans held for sale to mortgage loans held for investment	5,032,147	7,386,432
Mortgage loans foreclosed into real estate	$ 204,839	$ 87,000

1) Basis of Presentation

1) Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Notes
1) Basis of Presentation	1) Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10 Q and Articles 8 and 10 of Regulation S X. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. These financial statements should be read in conjunction with the consolidated financial statements of the Company and notes thereto for the year ended December 31, 2016, included in the Company’s Annual Report on Form 10-K (file number 000-09341). In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. The presentation of certain amounts in the prior year have been reclassified to conform to the 2017 presentation. See additional discussion regarding correction of errors in Note 21 and 22 included in the Company’s Form 10-K/A and in Note 13 of this Form 10-Q/A. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. 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.

2) Recent Accounting Pronouncem

2) Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2017
Notes
2) Recent Accounting Pronouncements	2) 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.

3) Investments

3) Investments	3 Months Ended
	Mar. 31, 2017
Notes
3) Investments	3) Investments The Company’s investments in fixed maturity securities held to maturity and equity securities available for sale as of March 31, 2017 are summarized as follows: Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value March 31, 2017 Fixed maturity securities held to maturity carried at amortized cost: Bonds: U.S. Treasury securities and obligations of U.S. Government agencies $4,357,040 $244,853 $(57,240) $4,544,653 Obligations of states and political subdivisions 5,995,384 146,273 (132,140) 6,009,517 Corporate securities including public utilities 165,716,233 11,763,828 (2,443,238) 175,036,823 Mortgage-backed securities 9,753,206 246,004 (233,586) 9,765,624 Redeemable preferred stock 623,635 14,954 (8,627) 629,962 Total fixed maturity securities held to maturity $186,445,498 $12,415,912 $(2,874,831) $195,986,579 Equity securities available for sale at estimated fair value: Common stock: Industrial, miscellaneous and all other $11,139,482 $412,535 $(816,778) $10,735,239 Total equity securities available for sale at estimated fair value $11,139,482 $412,535 $(816,778) $10,735,239 Mortgage loans on real estate and construction loans held for investment at amortized cost: Residential $64,629,906 Residential construction 33,917,309 Commercial 37,532,001 Less: Allowance for loan losses (1,955,443) Total mortgage loans on real estate and construction loans held for investment $134,123,773 Real estate held for investment - net of depreciation $151,417,470 Policy loans and other investments are shown at amortized cost: Policy loans $6,666,500 Insurance assignments 33,857,966 Promissory notes 48,797 Other investments 2,250,000 Less: Allowance for doubtful accounts (1,050,111) Total policy loans and other investments $41,773,152 Short-term investments at amortized cost $28,346,922 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: Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2016 Fixed maturity securities held to maturity carried at amortized cost: Bonds: 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: Policy loans $6,694,148 Insurance assignments 33,548,079 Promissory notes 48,797 Other investments 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 Fixed Maturity Securities The following tables summarize unrealized losses on fixed maturity securities, which are carried at amortized cost, at March 31, 2017 and December 31, 2016. The unrealized losses were primarily related to interest rate fluctuations. The tables set forth unrealized losses by duration 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 March 31, 2017 U.S. Treasury Securities and Obligations of U.S. Government Agencies $57,240 $1,345,231 $- $- $57,240 $1,345,231 Obligations of states and political subdivisions 132,140 3,270,595 - - 132,140 3,270,595 Corporate securities 1,094,907 29,075,748 1,348,331 12,362,900 2,443,238 41,438,648 Mortgage-backed securities 126,828 1,745,284 106,758 1,470,559 233,586 3,215,843 Redeemable preferred stock 8,627 98,110 - - 8,627 98,110 Total unrealized losses $1,419,742 $35,534,968 $1,455,089 $13,833,459 $2,874,831 $49,368,427 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-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 There were 195 securities with unrealized losses of 94.5% of amortized cost at March 31, 2017. There were 250 securities with unrealized losses of 93.9% of amortized cost at December 31, 2016. During the three months ended March 31, 2017 and 2016 an other than temporary decline in fair value resulted in the recognition of credit losses on fixed maturity securities of $52,139 and $30,000, 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 March 31, 2017 and December 31, 2016. The unrealized losses were primarily the result of decreases in fair value due to overall equity market declines. The tables set forth unrealized losses by duration and number of investment positions, together with the fair value of the related equity securities available for sale in a loss position: Unrealized Losses for Less than Twelve Months No. of Investment Positions Unrealized Losses for More than Twelve Months No. of Investment Positions Total Unrealized Losses At March 31, 2017 Industrial, miscellaneous and all other $178,006 149 $638,772 105 $816,778 Total unrealized losses $178,006 149 $638,772 105 $816,778 Fair Value $3,955,133 $1,154,812 $5,109,945 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 The average market value of the equity securities available for sale was 86.2% and 81.4% of the original investment as of March 31, 2017 and December 31, 2016, 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 three months ended March 31, 2017 and 2016, an other than temporary decline in the fair value resulted in the recognition of an impairment loss on equity securities of $-0- and $43,630, 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 March 31, 2017, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Estimated Fair Value Held to Maturity: Due in 2017 $5,625,049 $5,677,028 Due in 2018 through 2021 42,733,718 44,794,103 Due in 2022 through 2026 43,263,792 45,020,917 Due after 2026 84,446,098 90,098,945 Mortgage-backed securities 9,753,206 9,765,624 Redeemable preferred stock 623,635 629,962 Total held to maturity $186,445,498 $195,986,579 The cost and estimated fair value of available for sale securities at March 31, 2017, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Equities are valued using the specific identification method. Cost Estimated Fair Value Available for Sale: Common stock $11,139,482 $10,735,239 Total available for sale $11,139,482 $10,735,239 The Company’s realized gains and losses and other than temporary impairments from investments and other assets, are summarized as follows: Three Months Ended Mar 31 2017 2016 Fixed maturity securities held to maturity: Gross realized gains $2,434 $- Gross realized losses - (24,795) Other than temporary impairments (52,139) (30,000) Securities available for sale: Gross realized gains 60,978 63,495 Gross realized losses (4,556) (23,878) Other than temporary impairments - (43,630) Other assets: Gross realized gains 456,275 84,768 Gross realized losses (369,801) (1,668) Total $93,191 $24,292 The net carrying amount of held to maturity securities sold was $28,073 and $-0- for the three months ended March 31, 2017 and 2016, respectively. The net realized gain related to these sales was $2,434 and $-0- for the three months ended March 31, 2017 and 2016, 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 March 31, 2017, other than investments issued or guaranteed by the United States Government. Major categories of net investment income are as follows: Three Months Ended Mar 31 2017 2016 Fixed maturity securities $2,368,710 $2,050,569 Equity securities 54,786 71,041 Mortgage loans on real estate 2,223,139 2,026,515 Real estate 2,894,331 2,838,484 Policy loans 193,734 182,206 Insurance assignments 3,364,642 3,104,788 Other investments 7,543 - Short-term investments, principally interest on sale of mortgage loans and other 1,804,746 1,863,144 Gross investment income 12,911,631 12,136,747 Investment expenses (3,348,349) (3,144,556) Net investment income $9,563,282 $8,992,191 Net investment income includes income earned by the restricted assets of the cemeteries and mortuaries of $115,501 and $87,976 for the three months ended March 31, 2017 and 2016, respectively. Net investment income on real estate consists primarily of rental revenue. Investment expenses consist primarily of depreciation, property taxes, operating expenses of real estate and an estimated portion of administrative expenses relating to investment activities. Securities on deposit for regulatory authorities as required by law amounted to $9,268,330 at March 31, 2017 and $9,269,121 at December 31, 2016. The restricted securities are included in various assets under investments on the accompanying condensed consolidated balance sheets. Real Estate The Company continues to strategically deploy resources into real estate to match the income and yield durations of its primary obligations. The sources for these real estate assets come through its various business units in the form of acquisition, development mortgage foreclosures. 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, undeveloped land 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 March 31 December 31 March 31 December 31 2017 2016 2017 2016 Arizona $447,229 (1) $450,538 (1) 16,270 16,270 Arkansas 99,319 100,369 3,200 3,200 Kansas 12,512,451 12,450,297 222,679 222,679 Louisiana 512,324 518,700 7,063 7,063 Mississippi 3,795,355 3,818,985 33,821 33,821 New Mexico 7,000 (1) 7,000 (1) - - Texas 3,760,499 3,734,974 23,470 23,470 Utah 57,104,854 (2) 47,893,073 (2) 433,244 433,244 $78,239,031 $68,973,936 739,747 739,747 (1) Includes undeveloped 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”) 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 March 31, 2017, SNRE manages 124 residential properties in 9 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 March 31 December 31 2017 2016 Arizona $739,333 $742,259 California 5,404,417 5,848,389 Colorado 204,538 364,489 Florida 8,273,416 8,327,355 Ohio 46,658 46,658 Oklahoma 17,500 - Texas 777,843 1,091,188 Utah 57,428,553 59,485,466 Washington 286,181 286,181 $73,178,439 $76,191,985 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 March 31, 2017, real estate owned and occupied by the company is summarized as follows: Location Business Segment Approximate Square Footage Square Footage Occupied by the Company 5300 South 360 West, Salt Lake City, UT (1) Corporate Offices, Life Insurance and Cemetery/Mortuary Operations 36,000 100% 5201 Green Street, Salt Lake City, UT Mortgage Operations 36,899 34% 1044 River Oaks Dr., Flowood, MS Life Insurance Operations 5,522 27% (1) This asset is included in property and equipment on the Condensed Consolidated Balance Sheet Mortgage Loans Mortgage loans consist of first and second mortgages. The mortgage loans bear interest at rates ranging from 2.0% to 10.5%, maturity dates range from three months to 30 years and are secured by real estate. Concentrations of credit risk arise when a number of mortgage loan debtors have similar economic characteristics that would cause their ability to meet contractual obligations to be similarly affected by changes in economic conditions. Although the Company has a diversified mortgage loan portfolio consisting of residential mortgages, commercial loans and residential construction loans and requires collateral on all real estate exposures, a substantial portion of its debtors’ ability to honor obligations is reliant on the economic stability of the geographic region in which the debtors do business. At , the Company had 42%, %, %, %, % and 3% of its mortgage loans from borrowers located in the states of Utah, California, Texas, Florida, and , respectively. The mortgage loans on real estate balances on the onsolidated alance heet are reflected net of an allowance for loan losses of and $ at , respectively. The Company establishes a valuation allowance for credit losses in its portfolio. The following is a summary of the allowance for loan losses as a contra-asset account for the periods presented: Allowance for Credit Losses and Recorded Investment in Mortgage Loans Commercial Residential Residential Construction Total March 31, 2017 Allowance for credit losses: Beginning balance - January 1, 2017 $187,129 $1,461,540 $100,114 $1,748,783 Charge-offs - (16,226) - (16,226) Provision - 222,886 - 222,886 Ending balance -March 31, 2017 $187,129 $1,668,200 $100,114 $1,955,443 Ending balance: individually evaluated for impairment $- $423,487 $- $423,487 Ending balance: collectively evaluated for impairment $187,129 $1,244,713 $100,114 $1,531,956 Ending balance: loans acquired with deteriorated credit quality $- $- $- $- Mortgage loans: Ending balance $37,532,001 $64,629,906 $33,917,309 $136,079,216 Ending balance: individually evaluated for impairment $203,264 $4,842,306 $484,196 $5,529,766 Ending balance: collectively evaluated for impairment $37,328,737 $59,787,600 $33,433,113 $130,549,450 Ending balance: loans acquired with deteriorated credit quality $- $- $- $- December 31, 2016 Allowance for credit losses: Beginning balance - January 1, 2016 $187,129 $1,560,877 $100,114 $1,848,120 Charge-offs - (420,135) - (420,135) Provision - 320,798 - 320,798 Ending balance - December 31, 2016 $187,129 $1,461,540 $100,114 $1,748,783 Ending balance: individually evaluated for impairment $- $374,501 $- $374,501 Ending balance: collectively evaluated for impairment $187,129 $1,087,039 $100,114 $1,374,282 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 $- $- $- $- The following is a summary of the aging of mortgage loans for the periods presented Age Analysis of Past Due Mortgage Loans 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days (1) In Process of Foreclosure (1) Total Past Due Current Total Mortgage Loans Allowance for Loan Losses Net Mortgage Loans March 31, 2017 Commercial $1,547,419 $- $- $203,264 $1,750,683 $35,781,318 $37,532,001 $(187,129) $37,344,872 Residential 733,374 91,433 1,451,582 3,390,724 5,667,113 58,962,793 64,629,906 (1,668,200) 62,961,706 Residential Construction - - 64,895 419,301 484,196 33,433,113 33,917,309 (100,114) 33,817,195 Total $2,280,793 $91,433 $1,516,477 $4,013,289 $7,901,992 $128,177,224 $136,079,216 $(1,955,443) $134,123,773 December 31, 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 (1) Interest income is not recognized on loans past due greater than 90 days or in foreclosure. Impaired Mortgage Loans Impaired mortgage loans include loans with a related specific valuation allowance or loans whose carrying amount has been reduced to the expected collectible amount because the impairment has been considered other than temporary. The recorded investment in and unpaid principal balance of impaired loans along with the related loan specific allowance for losses, if any, for each reporting period and the average recorded investment and interest income recognized during the time the loans were impaired were as follows: Impaired Loans Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized March 31, 2017 With no related allowance recorded: Commercial $203,264 $203,264 $- $203,264 $- Residential - - - - - Residential construction 484,196 484,196 - 484,196 - With an allowance recorded: Commercial $- $- $- $- $- Residential 4,842,306 4,842,306 423,487 4,842,306 - Residential construction - - - - - Total: Commercial $203,264 $203,264 $- $203,264 $- Residential 4,842,306 4,842,306 423,487 4,842,306 - Residential construction 484,196 484,196 - 484,196 - December 31, 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 - 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 Commercial Residential Residential Construction Total March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 Performing $37,328,737 $51,333,630 $59,787,600 $55,677,084 $33,433,113 $40,735,222 $130,549,450 $147,745,936 Nonperforming 203,264 202,992 4,842,306 2,916,538 484,196 64,895 5,529,766 3,184,425 Total $37,532,001 $51,536,622 $64,629,906 $58,593,622 $33,917,309 $40,800,117 $136,079,216 $150,930,361 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 approximately $156,000 and $172,000 as of March 31, 2017 and December 31, 2016, respectively. The following is a summary of mortgage loans on a nonaccrual status for the periods presented. Mortgage Loans on Nonaccrual Status As of March 31 2017 As of December 31 2016 Commercial $203,264 $202,992 Residential 4,842,306 2,916,538 Residential construction 484,196 64,895 Total $5,529,766 $3,184,425 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 that is included in other liabilities and accrued expenses: As of March 31 2017 (As Restated) (Unaudited) As of December 31 2016 (As Restated) Balance, beginning of period $ 627,733 $ 2,805,900 Provision for current loan originations (1) 426,634 2,988,754 Additional provision for loan loss reserve - 1,700,000 Charge-offs, net of recaptured amounts 10,708 (6,866,921) Balance, end of period $ 1,065,075 $ 627,733 (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.

4) Stock-based Compensation

4) Stock-based Compensation	3 Months Ended
	Mar. 31, 2017
Notes
4) Stock-based Compensation	4) 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 $101,996 and $84,452 has been recognized for these plans for the three months ended March 31, 2017 and 2016, respectively. As of March 31, 2017, the total unrecognized compensation expense related to the options issued in December 2016 was $273,464 , which is expected to be recognized over the vesting period of one year. The Company generally estimates the expected life of the options based upon the contractual term of the options adjusted for actual experience. Future volatility is estimated based upon the 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. A summary of the status of the Company’s stock incentive plans as of March 31, 2017, and the changes during the three months ended March 31, 2017, are presented below: Number of Class A Shares Weighted Average Exercise Price Number of Class C Shares Weighted Average Exercise Price Outstanding at December 31, 2016 741,973 $4.33 556,298 $4.61 Granted - - Exercised - - Cancelled - - Outstanding at March 31, 2017 741,973 $4.33 556,298 $4.61 As of March 31, 2017: Options exercisable 636,764 $3.94 493,298 $4.26 As of March 31, 2017: Available options for future grant 253,432 - Weighted average contractual term of options outstanding at March 31, 2017 7.12 years 2.42 years Weighted average contractual term of options exercisable at March 31, 2017 6.70 years 2.13 years Aggregated intrinsic value of options outstanding at March 31, 2017 (1) $1,837,828 $1,264,540 Aggregated intrinsic value of options exercisable at March 31, 2017 (1) $1,824,086 $1,264,540 (1) The Company used a stock price of $6.80 as of March 31, 2017 to derive intrinsic value. A summary of the status of the Company’s stock incentive plans as of March 31, 2016, and the changes during the three months ended March 31, 2016, are presented below: Number of Class A Shares Weighted Average Exercise Price Number of Class C Shares Weighted Average Exercise Price Outstanding at December 31, 2015 618,261 $3.89 577,436 $3.54 Granted - - Exercised (28,460) 2.15 - Cancelled - - Outstanding at March 31, 2016 589,801 $3.97 577,436 $3.54 As of March 31, 2016: Options exercisable 484,659 $3.45 498,686 $2.99 As of March 31, 2016: Available options for future grant 454,842 57,750 Weighted average contractual term of options outstanding at March 31, 2016 7.50 years 2.50 years Weighted average contractual term of options exercisable at March 31, 2016 7.03 years 2.16 years Aggregated intrinsic value of options outstanding at March 31, 2016 (1) $844,342 $1,096,391 Aggregated intrinsic value of options exercisable at March 31, 2016 (1) $844,342 $1,096,391 (1) The Company used a stock price of $5.09 as of March 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 three months ended March 31, 2017 and 2016 was $-0- and $91,989 , respectively.

5) Earnings Per Share

5) Earnings Per Share	3 Months Ended
	Mar. 31, 2017
Notes
5) Earnings Per Share	5) Earnings Per Share The basic and diluted earnings per share amounts were calculated as follows: Three Months Ended March 31 (As Restated) (Unaudited) 2017 2016 Numerator: Net earnings $1,860,000 $2,537,941 Denominator: Basic weighted-average shares outstanding 15,058,153 14,656,450 Effect of dilutive securities: Employee stock options 469,843 455,828 Diluted weighted-average shares outstanding 15,527,996 15,112,278 Basic net earnings per share $0.12 $0.17 Diluted net earnings per share $0.12 $0.17 Net earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. For the three months ended March 31, 2017 and 2016, there were 89,250 and 250,039 of anti-dilutive employee stock option shares, respectively, that were not included in the computation of diluted net earnings per common share as their effect would be anti-dilutive.

6) Business Segments

6) Business Segments	3 Months Ended
	Mar. 31, 2017
Notes
6) Business Segments	6) 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 of the orm 10 K for the year ended December 31, 2016. 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. Life Insurance Cemetery/ Mortuary Mortgage Intercompany Eliminations Consolidated For the Three Months Ended March 31, 2017 Revenues from external customers $ 26,158,701 $ 3,604,897 $ 41,065,699 $ - $ 70,829,297 Intersegment revenues 2,988,651 109,351 95,770 (3,193,772) - Segment profit before income taxes 1,483,480 758,911 655,379 - 2,897,770 Identifiable Assets 833,999,127 99,554,821 164,990,647 (139,027,232) 959,517,363 Goodwill 2,765,570 - - - 2,765,570 For the Three Months Ended March 31, 2016 Revenues from external customers $ 22,075,134 $ 3,330,766 $ 44,050,448 $ - $ 69,456,348 Intersegment revenues 3,103,446 286,925 79,479 (3,469,850) - Segment profit before income taxes 1,103,727 469,055 2,498,298 - 4,071,080 Identifiable Assets 724,858,698 96,827,903 157,602,831 (133,414,858) 845,874,574 Goodwill 2,765,570 - - - 2,765,570

7)_ Fair Value of Financial Ins

7): Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2017
Notes
7): Fair Value of Financial Instruments	7) Fair Value of Financial Instruments Generally accepted accounting principles (GAAP) defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. GAAP also specifies a fair value hierarchy based upon the observability of inputs used in valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. Fair value measurements are classified under the following hierarchy: Level 1: Level 2: a) Quoted prices for similar assets or liabilities in active markets; b) Quoted prices for identical or similar assets or liabilities in non-active markets; or c) Valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability. Level 3: The Company utilizes a combination of third party valuation service providers, brokers, and internal valuation models to determine fair value. The following methods and assumptions were used by the Company in estimating the fair value disclosures related to other significant financial instruments: The items shown under Level 1 and Level 2 are valued as follows: Securities Available for Sale and Held to Maturity : The fair values of investments in fixed maturity and equity securities along with methods used to estimate such values are disclosed in Note 3 of the Notes to Condensed Consolidated Statements. Restricted Assets : A portion of these assets include mutual funds and equity securities that have quoted market prices. Also included are cash and cash equivalents and participations in mortgage loans. The carrying amounts reported in the accompanying consolidated balance sheet for these financial instruments approximate their fair values. Cemetery 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 Mortgage Loans on Real Estate : The fair values are estimated using interest rates currently being offered for similar loans to borrowers with similar credit ratings. Loans with similar characteristics are aggregated for purposes of the calculations. The carrying amounts reported in the accompanying condensed consolidated balance sheet for these financial instruments approximate their fair values. Real Estate Held for Investment : It should be noted that for replacement cost, when determining the fair value of mortgage properties, the Company uses Marshall and Swift, a provider of building cost information to the real estate construction industry. For the investment analysis, the Company used market data based upon its real estate operation experience and projected the present value of the net rental income over seven years. The Company used 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 tables summarize Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a recurring basis by their classification in the condensed consolidated balance sheet at March 31, 2017, 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 $10,735,239 $10,735,239 $- $- Total securities available for sale $10,735,239 $10,735,239 $- $- Restricted assets of cemeteries and mortuaries $752,814 $752,814 $- $- Cemetery perpetual care trust investments 672,922 672,922 - - Derivatives - loan commitments 9,540,950 - - 9,540,950 Total assets accounted for at fair value on a recurring basis $21,701,925 $12,160,975 $- $9,540,950 Liabilities accounted for at fair value on a recurring basis Policyholder account balances $(49,155,440) $- $- $(49,155,440) Future policy benefits - annuities (98,714,812) - - (98,714,812) Derivatives - bank loan interest rate swaps (1,713) - - (1,713) - call options (38,628) (38,628) - - - put options (13,700) (13,700) - - - loan commitments (564,025) - - (564,025) Total liabilities accounted for at fair value on a recurring basis $(148,488,318) $(52,328) $- $(148,435,990) Following is a summary of changes in the condensed consolidated balance sheet line items measured using level 3 inputs: Policyholder Account Balances Future Policy Benefits - Annuities Loan Commitments Bank Loan Interest Rate Swaps Balance - December 31, 2016, as restated $(49,421,125) $(99,388,662) $6,809,332 $(3,308) Total gains (losses): Included in earnings 265,685 673,850 2,167,593 - Included in other comprehensive income - - - 1,595 Balance - March 31, 2017, as restated $(49,155,440) $(98,714,812) $8,976,925 $(1,713) The following tables summarize Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a nonrecurring basis by their classification in the condensed consolidated balance sheet at March 31, 2017. Quoted Prices in Active Significant Significant Markets for Observable Unobservable Identical Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Assets accounted for at fair value on a nonrecurring basis Mortgage loans on real estate $5,106,278 $- $- $5,106,278 Mortgage servicing rights 1,357,867 - - 1,357,867 Total assets accounted for at fair value on a nonrecurring basis $6,464,145 $- $- $6,464,145 The following tables summarize Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a recurring basis by their classification in the condensed consolidated balance sheet at December 31, 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 Total assets accounted for at fair value on a recurring basis $18,919,705 $12,008,161 $- $6,911,544 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 condensed consolidated balance sheet line items measured using level 3 inputs: Policyholder Account Balances Future Policy Benefits - Annuities Loan Commitments Bank Loan Interest Rate Swaps Balance - December 31, 2015, as restated $(50,694,953) $(69,398,617) $7,671,495 $(13,947) Purchases - (30,294,480) - - Total gains (losses): Included in earnings 1,273,828 304,435 (862,163) - Included in other comprehensive income - - - 10,639 Balance - December 31, 2016, as restated $(49,421,125) $(99,388,662) $6,809,332 $(3,308) The following tables summarize Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a nonrecurring basis by their classification in the condensed consolidated balance sheet at December 31, 2016. Quoted Prices in Active Significant Significant Markets for Observable Unobservable Identical Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Assets accounted for at fair value on a nonrecurring basis Mortgage 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 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 March 31, 2017 and December 31, 2016. The estimated fair value amounts for March 31, 2017 and December 31, 2016 have been measured as of period-end, and have not been reevaluated or updated for purposes of these Condensed Consolidated Financial Statements subsequent to those dates. As such, the estimated fair values of these financial instruments subsequent to the reporting date may be different than the amounts reported at period-end. The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows as of March 31, 2017: Carrying Value Level 1 Level 2 Level 3 Total Estimated Fair Value Assets Fixed maturity securities, held to maturity $ 186,445,498 $ - $ 195,986,579 $ - $ 195,986,579 Mortgage loans: Residential 62,961,706 - - 67,122,262 67,122,262 Residential construction 33,817,195 - - 33,817,195 33,817,195 Commercial 37,344,872 - - 38,610,972 38,610,972 Mortgage loans, net $ 134,123,773 $ - $ - $ 139,550,429 $ 139,550,429 Loans held for sale 151,891,428 - - 156,891,384 156,891,384 Policy loans 6,666,500 - - 6,666,500 6,666,500 Insurance assignments, net 32,856,652 - - 32,856,652 32,856,652 Short-term investments 28,346,922 - - 28,346,922 28,346,922 Mortgage servicing rights 19,432,993 - - 26,632,996 26,632,996 Liabilities Bank and other loans payable $ (153,592,365) $- $- $ (153,592,365) $ (153,592,365) 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: 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 $ (152,137,371) $ - $ - $ (152,137,371) $ (152,137,371) 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 condensed 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 condensed consolidated balance sheet for these financial instruments approximate their fair values due to their short-term nature. Bank and Other Loans Payable The carrying amounts reported in the accompanying condensed consolidated balance sheet for these financial instruments approximate their fair values due to their short-term nature.

8) Allowance For Doubtful Accou

8) Allowance For Doubtful Accounts and Loan Losses and Impaired Loans	3 Months Ended
	Mar. 31, 2017
Notes
8) Allowance For Doubtful Accounts and Loan Losses and Impaired Loans	8) Allowance for Doubtful Accounts, Allowance for Loan Losses and Impaired Loans The Company records an allowance and recognizes an expense for potential losses from mortgage loans, other loans and receivables in accordance with generally accepted accounting principles. Receivables are the result of cemetery and mortuary operations, mortgage loan operations and life insurance operations. The allowance is based upon the Company’s historical experience for collectively evaluated impairment. Other allowances are based upon receivables individually evaluated for impairment. Collectability of the cemetery and mortuary receivables is significantly influenced by current economic conditions. The critical issues that impact recovery of mortgage loan operations are interest rate risk, loan underwriting, new regulations and the overall economy. The Company provides allowances for losses on its mortgage loans held for investment through an allowance for loan losses. The allowance is comprised of two components. The first component is an allowance for collectively evaluated impairment that is based upon the Company’s historical experience in collecting similar receivables. The second component is based upon individual evaluation of loans that are determined to be impaired. Upon determining impairment, the Company establishes an individual impairment allowance based upon an assessment of the fair value of the underlying collateral. See the schedules in Note 3 for additional information. The allowance for losses on mortgage loans held for investment could change based on changes in the value of the underlying collateral, the performance status of the loans, or the Company’s actual collection experience. The actual losses could change, in the near term, from the established allowance, based upon the occurrence or non-occurrence of these events.

9) Derivative Commitments

9) Derivative Commitments	3 Months Ended
	Mar. 31, 2017
Notes
9) Derivative Commitments	9) 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. The following table shows the fair value of derivatives as of March 31, 2017 and December 31, 2016. Fair Value of Derivative Instruments Asset Derivatives Liability Derivatives March 31, 2017 (As Restated) December 31, 2016 (As Restated) March 31, 2017 December 31, 2016 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 $9,540,950 other assets $6,911,544 Other liabilities $564,025 Other liabilities $102,212 Call options -- -- -- -- Other liabilities 38,628 Other liabilities 109,474 Put options -- -- -- -- Other liabilities 13,700 Other liabilities 26,494 Interest rate swaps -- -- -- -- Bank loans payable 1,713 Bank loans payable 3,308 Total $9,540,950 $6,911,544 $618,066 $241,488 The following table shows the gains and losses 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 Three Months Ended Mar 31 Derivative - Cash Flow Hedging Relationships: 2017 2016 Interest Rate Swaps $1,595 $2,737 Sub Total 1,595 2,737 Tax Effect 622 1,068 Total $973 $1,669

10) Reinsurance, Commitments an

10) Reinsurance, Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Notes
10) Reinsurance, Commitments and Contingencies	10) Reinsurance, Commitments and Contingencies Reinsurance The Company follows the procedure of reinsuring risks in excess of a specified limit, which ranges from $25,000 to $100,000. 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. 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 its potential losses on loans sold. The amounts expensed for loan losses for the three months ended March 31, 2017 and 2016 were $427,000 and $587,000 respectively. The estimated liability for indemnification losses is included in other liabilities and accrued expenses and, as of March 31, 2017 and December 31, 2016, the balances were $1,065,000 and $628,000 , respectively. Mortgage Loan Loss Litigation For a description of the litigation involving SecurityNational Mortgage and Lehman Brothers and Aurora Loan Services, reference is to Part II, Item 1. Legal Proceedings. Other Contingencies and Commitments The Company has entered into commitments to fund construction and land development loans and has also provided financing for land acquisition and development. As of March 31, 2017, the Company’s commitments were approximately $45,923,000 for these loans of which $33,917,000 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 March 31, 2017, $471,607 of reserves was established related to such insurance programs versus $416,576 at December 31, 2016. 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.

11) Mortgage Servicing Rights

11) Mortgage Servicing Rights	3 Months Ended
	Mar. 31, 2017
Notes
11) Mortgage Servicing Rights	11) Mortgage Servicing Rights The Company reports these MSRs pursuant to the accounting policy discussed in Note 7. The following is a summary of the MSR activity for the periods presented. As of March 31, 2017 As of December 31, 2016 Amortized cost: Balance before valuation allowance at beginning of year $18,872,362 $12,679,755 MSRs proceeds from loan sales 1,357,867 8,603,154 Amortization (797,236) (2,410,547) Application of valuation allowance to write down MSRs with other than temporary impairment - - Balance before valuation allowance at end of period $19,432,993 $18,872,362 Valuation allowance for impairment of MSRs: Balance at beginning of year $- $- Additions - - Application of valuation allowance to write down MSRs with other than temporary impairment - - Balance at end of period $- $- Mortgage servicing rights, net $19,432,993 $18,872,362 Estimated fair value of MSRs at end of period $26,632,996 $25,496,832 The Company collected the following contractual servicing fee income and late fee income as reported in other revenues on the Condensed Consolidated Statement of Earnings: Three Months Ended Mar 31 2017 2016 Contractual servicing fees $1,835,873 $1,314,285 Late fees 86,338 63,055 Total $1,922,211 $1,377,340 The following is a summary of the unpaid principal balances of the servicing portfolio for the periods presented: As of March 31, 2017 As of December 31, 2016 Servicing UPB $2,744,354,316 $2,720,441,340 The following key assumptions were used in determining MSR value: Prepayment Speeds Average Life(Years) Discount Rate March 31, 2017 3.79% 6.55 10.01 December 31, 2016 3.77% 6.52 10.01

12) Acquisitions

12) Acquisitions	3 Months Ended
	Mar. 31, 2017
Notes
12) Acquisitions	12) 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 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 three month periods ended March 31, 2017 and 2016. This pro forma information is supplemental and does not necessarily present the operations of the Company that would have occurred had the acquisition occurred on those dates and may not reflect the operations that will occur in the future: For the Three Months Ended March 31 (As Restated) (Unaudited) 2017 2016 Total revenues $ 70,829,297 $ 70,614,654 Net earnings $ 1,860,000 $ 2,302,158 Net earnings per Class A equivalent common share $ 0.12 $ 0.16 Net earnings per Class A equivalent common share assuming dilution $ 0.12 $ 0.15

Note 13_ Correction of Errors

Note 13: Correction of Errors	3 Months Ended
	Mar. 31, 2017
Notes
Note 13: Correction of Errors	13) Correction of Errors The accompanying Condensed Consolidated Financial Statements include the restatement of the Company’s previously filed condensed consolidated balance sheets for the quarter ended March 31, 2017 and year ended December 31, 2016 and the related condensed consolidated statements of operations, shareholders’ equity and cash flows for the quarters ended March 31, 2017 and March 31, 2016. For additional information about the correction of errors see Note 21 of the Company’s Annual Report on Form 10-K/A. Subsequent to the issuance of the company’s 2016 Consolidated Financial Statements, the Company identified the following errors, (“Adjustments”): 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 of the Company’s Condensed Consolidated Balance Sheets for the periods presented: As of March 31, 2017 As Previously Reported Adjustments As Restated Loans held for sale (formerly called Mortgage loans sold to investors) $ 54,401,522 $ 97,489,906 $ 151,891,428 Receivables, net 15,736,045 (9,433,244) 6,302,801 Other assets 8,141,683 4,255,584 12,397,267 Total Assets 867,205,117 92,312,246 959,517,363 Future life, annuity, and other benefits 589,405,726 (1,156,778) 588,248,948 Bank and other loans payable 61,548,686 92,045,392 153,594,078 Income taxes 28,717,508 (3,347,481) 25,370,027 Total liabilities 737,292,214 87,544,133 824,836,347 Retained earnings 64,494,807 4,771,113 69,265,920 Total stockholders' equity 129,909,903 4,771,113 134,681,016 Total Liabilities and Stockholders' Equity 867,205,117 92,312,246 959,517,363 As of December 31, 2016 As Previously Reported Adjustments As Restated Loans held for sale (formerly called Mortgage loans sold to investors) $ 82,491,091 $ 106,648,741 $ 189,139,832 Receivables, net 18,870,119 $ (12,496,755) 6,373,364 Other assets 6,891,468 3,521,926 10,413,394 Total Assets 854,004,671 97,673,912 951,678,583 Future life, annuity, and other benefits 585,610,063 (1,542,371) 584,067,692 Bank and other loans payable 53,718,548 98,422,131 152,140,679 Income taxes 27,904,294 (3,585,425) 24,318,869 Total liabilities 725,825,117 93,294,335 819,119,452 Retained earnings 63,029,627 4,379,577 67,409,204 Total stockholders' equity 128,179,554 4,379,577 132,559,131 Total Liabilities and Stockholders' Equity 854,004,671 97,673,912 951,678,583 As of January 1, 2016 As Previously Reported«9KWA982V» Adjustments As Restated Retained earnings 54,054,950 6,470,454 60,525,404 The tables below present the impact of the restatement on the Company’s Condensed Consolidated Statements of Earnings for the periods presented: Three Months Ended March 31, 2017 As Previously Reported Adjustments As Restated Mortgage fee income $ 37,050,926 $ 1,376,928 $ 38,427,854 Total revenues 69,452,369 1,376,928 70,829,297 Increase in future policy benefits 5,182,449 385,593 5,568,042 Commissions 15,721,074 633,974 16,355,048 Provision for loan loss reserve 426,634 (426,634) - Cost related to funding mortgage loans 2,065,134 154,515 2,219,649 Total benefits and expenses 67,184,079 747,448 67,931,527 Earnings before income taxes 2,268,290 629,480 2,897,770 Income tax expense (799,826) (237,944) (1,037,770) Net earnings 1,468,464 391,536 1,860,000 Net earnings per common share (1) $0.10 $0.03 $0.12 Net earnings per common share assuming dilution (1) $0.09 $0.03 $0.12 Three Months Ended March 31, 2016 As Previously Reported Adjustments As Restated Mortgage fee income $ 39,110,967 $ 2,101,041 $ 41,212,008 Total revenues 67,355,307 2,101,041 69,456,348 Increase in future policy benefits 4,160,260 (38,559) 4,121,701 Commissions 16,842,270 2,368,698 19,210,968 Provision for loan loss reserve 586,778 (586,778) - Cost related to funding mortgage loans 2,154,397 478,357 2,632,754 Total benefits and expenses 63,163,550 2,221,718 65,385,268 Earnings before income taxes 4,191,757 (120,677) 4,071,080 Income tax expense (1,580,220) 47,081 (1,533,139) Net earnings 2,611,537 (73,596) 2,537,941 Net earnings per common share (1) $0.18 ($0.01) $0.17 Net earnings per common share assuming dilution (1) $0.17 ($0.00) $0.17 (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 Condensed Consolidated Statements of Comprehensive Income for the periods presented: Three Months Ended March 31, 2017 As Previously Reported Adjustments As Restated Net earnings $ 1,468,464 $ 391,536 $ 1,860,000 Three Months Ended March 31, 2016 As Previously Reported Adjustments As Restated Net earnings $ 2,611,537 $ (73,596) $ 2,537,941 The tables below present the impact of the restatement on the Company’s Condensed Consolidated Statements of Cash Flows for the periods presented: Three Months Ended March 31, 2017 As Previously Reported Adjustments As Restated Net cash provided by (used in) operating activities $ 24,054,637 $ 6,376,739 $ 30,431,376 Net change in warehouse line borrowings - (6,376,739) (6,376,739) Net cash provided by financing activities 6,229,522 (6,376,739) (147,217) Three Months Ended March 31, 2016 As Previously Reported Adjustments As Restated Net cash provided by (used in) operating activities $ 25,863,034 $ 1,412,370 $ 27,275,404 Net change in warehouse line borrowings - (1,412,370) (1,412,370) Net cash provided by financing activities (100,886) (1,412,370) (1,513,256)

1) Basis of Presentation_ Accou

1) Basis of Presentation: Accounting Policy (Policies)	3 Months Ended
	Mar. 31, 2017
Policies
Accounting Policy	The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10 Q and Articles 8 and 10 of Regulation S X. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. These financial statements should be read in conjunction with the consolidated financial statements of the Company and notes thereto for the year ended December 31, 2016, included in the Company’s Annual Report on Form 10-K (file number 000-09341). In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. The presentation of certain amounts in the prior year have been reclassified to conform to the 2017 presentation. See additional discussion regarding correction of errors in Note 21 and 22 included in the Company’s Form 10-K/A and in Note 13 of this Form 10-Q/A.

1) Basis of Presentation_ Use o

1) Basis of Presentation: Use of Estimates Policy (Policies)	3 Months Ended
	Mar. 31, 2017
Policies
Use of Estimates Policy	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. 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.

2) Recent Accounting Pronounc23

2) Recent Accounting Pronouncements: New Accounting Pronouncements, Policy (Policies)	3 Months Ended
	Mar. 31, 2017
Policies
New Accounting Pronouncements, Policy	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.

3) Investments_ Held-to-maturit

3) Investments: Held-to-maturity Securities (Tables)	3 Months Ended
	Mar. 31, 2017
Held-to-maturity Securities	Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value March 31, 2017 Fixed maturity securities held to maturity carried at amortized cost: Bonds: U.S. Treasury securities and obligations of U.S. Government agencies $4,357,040 $244,853 $(57,240) $4,544,653 Obligations of states and political subdivisions 5,995,384 146,273 (132,140) 6,009,517 Corporate securities including public utilities 165,716,233 11,763,828 (2,443,238) 175,036,823 Mortgage-backed securities 9,753,206 246,004 (233,586) 9,765,624 Redeemable preferred stock 623,635 14,954 (8,627) 629,962 Total fixed maturity securities held to maturity $186,445,498 $12,415,912 $(2,874,831) $195,986,579
AsOfDecember312016Member
Held-to-maturity Securities	Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2016 Fixed maturity securities held to maturity carried at amortized cost: Bonds: 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

3) Investments_ Available-for-s

3) Investments: Available-for-sale Securities (Tables)	3 Months Ended
	Mar. 31, 2017
Available-for-sale Securities	Equity securities available for sale at estimated fair value: Common stock: Industrial, miscellaneous and all other $11,139,482 $412,535 $(816,778) $10,735,239 Total equity securities available for sale at estimated fair value $11,139,482 $412,535 $(816,778) $10,735,239 Mortgage loans on real estate and construction loans held for investment at amortized cost: Residential $64,629,906 Residential construction 33,917,309 Commercial 37,532,001 Less: Allowance for loan losses (1,955,443) Total mortgage loans on real estate and construction loans held for investment $134,123,773 Real estate held for investment - net of depreciation $151,417,470 Policy loans and other investments are shown at amortized cost: Policy loans $6,666,500 Insurance assignments 33,857,966 Promissory notes 48,797 Other investments 2,250,000 Less: Allowance for doubtful accounts (1,050,111) Total policy loans and other investments $41,773,152 Short-term investments at amortized cost $28,346,922
AsOfDecember312016Member
Available-for-sale Securities	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: Policy loans $6,694,148 Insurance assignments 33,548,079 Promissory notes 48,797 Other investments 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

3) Investments_ Schedule of Unr

3) Investments: Schedule of Unrealized Loss on Investments (Tables)	3 Months Ended
	Mar. 31, 2017
Fixed Maturities
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 March 31, 2017 U.S. Treasury Securities and Obligations of U.S. Government Agencies $57,240 $1,345,231 $- $- $57,240 $1,345,231 Obligations of states and political subdivisions 132,140 3,270,595 - - 132,140 3,270,595 Corporate securities 1,094,907 29,075,748 1,348,331 12,362,900 2,443,238 41,438,648 Mortgage-backed securities 126,828 1,745,284 106,758 1,470,559 233,586 3,215,843 Redeemable preferred stock 8,627 98,110 - - 8,627 98,110 Total unrealized losses $1,419,742 $35,534,968 $1,455,089 $13,833,459 $2,874,831 $49,368,427 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-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
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 March 31, 2017 Industrial, miscellaneous and all other $178,006 149 $638,772 105 $816,778 Total unrealized losses $178,006 149 $638,772 105 $816,778 Fair Value $3,955,133 $1,154,812 $5,109,945 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

3) Investments_ Investments Cla

3) Investments: Investments Classified by Contractual Maturity Date (Tables)	3 Months Ended
	Mar. 31, 2017
Held-to-maturity Securities
Investments Classified by Contractual Maturity Date	Amortized Cost Estimated Fair Value Held to Maturity: Due in 2017 $5,625,049 $5,677,028 Due in 2018 through 2021 42,733,718 44,794,103 Due in 2022 through 2026 43,263,792 45,020,917 Due after 2026 84,446,098 90,098,945 Mortgage-backed securities 9,753,206 9,765,624 Redeemable preferred stock 623,635 629,962 Total held to maturity $186,445,498 $195,986,579
Available-for-sale Securities
Investments Classified by Contractual Maturity Date	Cost Estimated Fair Value Available for Sale: Common stock $11,139,482 $10,735,239 Total available for sale $11,139,482 $10,735,239

3) Investments_ Gain (Loss) on

3) Investments: Gain (Loss) on Investments (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Gain (Loss) on Investments	Three Months Ended Mar 31 2017 2016 Fixed maturity securities held to maturity: Gross realized gains $2,434 $- Gross realized losses - (24,795) Other than temporary impairments (52,139) (30,000) Securities available for sale: Gross realized gains 60,978 63,495 Gross realized losses (4,556) (23,878) Other than temporary impairments - (43,630) Other assets: Gross realized gains 456,275 84,768 Gross realized losses (369,801) (1,668) Total $93,191 $24,292

3) Investments_ Schedule of Maj

3) Investments: Schedule of Major categories of net investment income (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of Major categories of net investment income	Three Months Ended Mar 31 2017 2016 Fixed maturity securities $2,368,710 $2,050,569 Equity securities 54,786 71,041 Mortgage loans on real estate 2,223,139 2,026,515 Real estate 2,894,331 2,838,484 Policy loans 193,734 182,206 Insurance assignments 3,364,642 3,104,788 Other investments 7,543 - Short-term investments, principally interest on sale of mortgage loans and other 1,804,746 1,863,144 Gross investment income 12,911,631 12,136,747 Investment expenses (3,348,349) (3,144,556) Net investment income $9,563,282 $8,992,191

3) Investments_ Commercial Real

3) Investments: Commercial Real Estate Investment (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Commercial Real Estate Investment	Net Ending Balance Total Square Footage March 31 December 31 March 31 December 31 2017 2016 2017 2016 Arizona $447,229 (1) $450,538 (1) 16,270 16,270 Arkansas 99,319 100,369 3,200 3,200 Kansas 12,512,451 12,450,297 222,679 222,679 Louisiana 512,324 518,700 7,063 7,063 Mississippi 3,795,355 3,818,985 33,821 33,821 New Mexico 7,000 (1) 7,000 (1) - - Texas 3,760,499 3,734,974 23,470 23,470 Utah 57,104,854 (2) 47,893,073 (2) 433,244 433,244 $78,239,031 $68,973,936 739,747 739,747 (1) Includes undeveloped land (2) Includes 53rd Center to be completed in July 2017

3) Investments_ Residential Rea

3) Investments: Residential Real Estate Investment (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Residential Real Estate Investment	Net Ending Balance March 31 December 31 2017 2016 Arizona $739,333 $742,259 California 5,404,417 5,848,389 Colorado 204,538 364,489 Florida 8,273,416 8,327,355 Ohio 46,658 46,658 Oklahoma 17,500 - Texas 777,843 1,091,188 Utah 57,428,553 59,485,466 Washington 286,181 286,181 $73,178,439 $76,191,985

3) Investments_ Real estate own

3) Investments: Real estate owned and occupied (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Real estate owned and occupied	Location Business Segment Approximate Square Footage Square Footage Occupied by the Company 5300 South 360 West, Salt Lake City, UT (1) Corporate Offices, Life Insurance and Cemetery/Mortuary Operations 36,000 100% 5201 Green Street, Salt Lake City, UT Mortgage Operations 36,899 34% 1044 River Oaks Dr., Flowood, MS Life Insurance Operations 5,522 27% (1) This asset is included in property and equipment on the Condensed Consolidated Balance Sheet

3) Investments_ Schedule of All

3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of Allowance for loan losses as a contra-asset account	Allowance for Credit Losses and Recorded Investment in Mortgage Loans Commercial Residential Residential Construction Total March 31, 2017 Allowance for credit losses: Beginning balance - January 1, 2017 $187,129 $1,461,540 $100,114 $1,748,783 Charge-offs - (16,226) - (16,226) Provision - 222,886 - 222,886 Ending balance -March 31, 2017 $187,129 $1,668,200 $100,114 $1,955,443 Ending balance: individually evaluated for impairment $- $423,487 $- $423,487 Ending balance: collectively evaluated for impairment $187,129 $1,244,713 $100,114 $1,531,956 Ending balance: loans acquired with deteriorated credit quality $- $- $- $- Mortgage loans: Ending balance $37,532,001 $64,629,906 $33,917,309 $136,079,216 Ending balance: individually evaluated for impairment $203,264 $4,842,306 $484,196 $5,529,766 Ending balance: collectively evaluated for impairment $37,328,737 $59,787,600 $33,433,113 $130,549,450 Ending balance: loans acquired with deteriorated credit quality $- $- $- $- December 31, 2016 Allowance for credit losses: Beginning balance - January 1, 2016 $187,129 $1,560,877 $100,114 $1,848,120 Charge-offs - (420,135) - (420,135) Provision - 320,798 - 320,798 Ending balance - December 31, 2016 $187,129 $1,461,540 $100,114 $1,748,783 Ending balance: individually evaluated for impairment $- $374,501 $- $374,501 Ending balance: collectively evaluated for impairment $187,129 $1,087,039 $100,114 $1,374,282 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 $- $- $- $-

3) Investments_ Schedule of agi

3) Investments: Schedule of aging of mortgage loans (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of aging of mortgage loans	Age Analysis of Past Due Mortgage Loans 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days (1) In Process of Foreclosure (1) Total Past Due Current Total Mortgage Loans Allowance for Loan Losses Net Mortgage Loans March 31, 2017 Commercial $1,547,419 $- $- $203,264 $1,750,683 $35,781,318 $37,532,001 $(187,129) $37,344,872 Residential 733,374 91,433 1,451,582 3,390,724 5,667,113 58,962,793 64,629,906 (1,668,200) 62,961,706 Residential Construction - - 64,895 419,301 484,196 33,433,113 33,917,309 (100,114) 33,817,195 Total $2,280,793 $91,433 $1,516,477 $4,013,289 $7,901,992 $128,177,224 $136,079,216 $(1,955,443) $134,123,773 December 31, 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 (1) Interest income is not recognized on loans past due greater than 90 days or in foreclosure.

3) Investments_ Schedule of Imp

3) Investments: Schedule of Impaired Mortgage Loans (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of Impaired Mortgage Loans	Impaired Loans Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized March 31, 2017 With no related allowance recorded: Commercial $203,264 $203,264 $- $203,264 $- Residential - - - - - Residential construction 484,196 484,196 - 484,196 - With an allowance recorded: Commercial $- $- $- $- $- Residential 4,842,306 4,842,306 423,487 4,842,306 - Residential construction - - - - - Total: Commercial $203,264 $203,264 $- $203,264 $- Residential 4,842,306 4,842,306 423,487 4,842,306 - Residential construction 484,196 484,196 - 484,196 - December 31, 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 -

3) Investments_ Schedule Of Cre

3) Investments: Schedule Of Credit Risk Of Mortgage Loans Based On Performance Status (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule Of Credit Risk Of Mortgage Loans Based On Performance Status:	Mortgage Loan Credit Exposure Credit Risk Profile Based on Payment Activity Commercial Residential Residential Construction Total March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 Performing $37,328,737 $51,333,630 $59,787,600 $55,677,084 $33,433,113 $40,735,222 $130,549,450 $147,745,936 Nonperforming 203,264 202,992 4,842,306 2,916,538 484,196 64,895 5,529,766 3,184,425 Total $37,532,001 $51,536,622 $64,629,906 $58,593,622 $33,917,309 $40,800,117 $136,079,216 $150,930,361

3) Investments_ Schedule of Mor

3) Investments: Schedule of Mortgage loans on a nonaccrual status (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of Mortgage loans on a nonaccrual status	Mortgage Loans on Nonaccrual Status As of March 31 2017 As of December 31 2016 Commercial $203,264 $202,992 Residential 4,842,306 2,916,538 Residential construction 484,196 64,895 Total $5,529,766 $3,184,425

3) Investments_ Schedule of loa

3) Investments: Schedule of loan loss reserve which is included in other liabilities and accrued expenses (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of loan loss reserve which is included in other liabilities and accrued expenses	As of March 31 2017 (As Restated) (Unaudited) As of December 31 2016 (As Restated) Balance, beginning of period $ 627,733 $ 2,805,900 Provision for current loan originations (1) 426,634 2,988,754 Additional provision for loan loss reserve - 1,700,000 Charge-offs, net of recaptured amounts 10,708 (6,866,921) Balance, end of period $ 1,065,075 $ 627,733 (1) Included in Mortgage fee income

4) Stock-based Compensation_ Sc

4) Stock-based Compensation: Schedule of stock inventive plan changes (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of stock inventive plan changes	Number of Class A Shares Weighted Average Exercise Price Number of Class C Shares Weighted Average Exercise Price Outstanding at December 31, 2016 741,973 $4.33 556,298 $4.61 Granted - - Exercised - - Cancelled - - Outstanding at March 31, 2017 741,973 $4.33 556,298 $4.61 As of March 31, 2017: Options exercisable 636,764 $3.94 493,298 $4.26 As of March 31, 2017: Available options for future grant 253,432 - Weighted average contractual term of options outstanding at March 31, 2017 7.12 years 2.42 years Weighted average contractual term of options exercisable at March 31, 2017 6.70 years 2.13 years Aggregated intrinsic value of options outstanding at March 31, 2017 (1) $1,837,828 $1,264,540 Aggregated intrinsic value of options exercisable at March 31, 2017 (1) $1,824,086 $1,264,540 (1) The Company used a stock price of $6.80 as of March 31, 2017 to derive intrinsic value. A summary of the status of the Company’s stock incentive plans as of March 31, 2016, and the changes during the three months ended March 31, 2016, are presented below: Number of Class A Shares Weighted Average Exercise Price Number of Class C Shares Weighted Average Exercise Price Outstanding at December 31, 2015 618,261 $3.89 577,436 $3.54 Granted - - Exercised (28,460) 2.15 - Cancelled - - Outstanding at March 31, 2016 589,801 $3.97 577,436 $3.54 As of March 31, 2016: Options exercisable 484,659 $3.45 498,686 $2.99 As of March 31, 2016: Available options for future grant 454,842 57,750 Weighted average contractual term of options outstanding at March 31, 2016 7.50 years 2.50 years Weighted average contractual term of options exercisable at March 31, 2016 7.03 years 2.16 years Aggregated intrinsic value of options outstanding at March 31, 2016 (1) $844,342 $1,096,391 Aggregated intrinsic value of options exercisable at March 31, 2016 (1) $844,342 $1,096,391 (1) The Company used a stock price of $5.09 as of March 31, 2016 to derive intrinsic value.

5) Earnings Per Share_ Schedule

5) Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended March 31 (As Restated) (Unaudited) 2017 2016 Numerator: Net earnings $1,860,000 $2,537,941 Denominator: Basic weighted-average shares outstanding 15,058,153 14,656,450 Effect of dilutive securities: Employee stock options 469,843 455,828 Diluted weighted-average shares outstanding 15,527,996 15,112,278 Basic net earnings per share $0.12 $0.17 Diluted net earnings per share $0.12 $0.17

6) Business Segments_ Schedule

6) Business Segments: Schedule of Revenues and Expenses by Reportable Segment (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of Revenues and Expenses by Reportable Segment	Life Insurance Cemetery/ Mortuary Mortgage Intercompany Eliminations Consolidated For the Three Months Ended March 31, 2017 Revenues from external customers $ 26,158,701 $ 3,604,897 $ 41,065,699 $ - $ 70,829,297 Intersegment revenues 2,988,651 109,351 95,770 (3,193,772) - Segment profit before income taxes 1,483,480 758,911 655,379 - 2,897,770 Identifiable Assets 833,999,127 99,554,821 164,990,647 (139,027,232) 959,517,363 Goodwill 2,765,570 - - - 2,765,570 For the Three Months Ended March 31, 2016 Revenues from external customers $ 22,075,134 $ 3,330,766 $ 44,050,448 $ - $ 69,456,348 Intersegment revenues 3,103,446 286,925 79,479 (3,469,850) - Segment profit before income taxes 1,103,727 469,055 2,498,298 - 4,071,080 Identifiable Assets 724,858,698 96,827,903 157,602,831 (133,414,858) 845,874,574 Goodwill 2,765,570 - - - 2,765,570

7)_ Fair Value of Financial I42

7): Fair Value of Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Tables)	3 Months Ended
	Mar. 31, 2017
AsOfMarch312017Member
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets accounted for at fair value on a recurring basis Common stock $10,735,239 $10,735,239 $- $- Total securities available for sale $10,735,239 $10,735,239 $- $- Restricted assets of cemeteries and mortuaries $752,814 $752,814 $- $- Cemetery perpetual care trust investments 672,922 672,922 - - Derivatives - loan commitments 9,540,950 - - 9,540,950 Total assets accounted for at fair value on a recurring basis $21,701,925 $12,160,975 $- $9,540,950 Liabilities accounted for at fair value on a recurring basis Policyholder account balances $(49,155,440) $- $- $(49,155,440) Future policy benefits - annuities (98,714,812) - - (98,714,812) Derivatives - bank loan interest rate swaps (1,713) - - (1,713) - call options (38,628) (38,628) - - - put options (13,700) (13,700) - - - loan commitments (564,025) - - (564,025) Total liabilities accounted for at fair value on a recurring basis $(148,488,318) $(52,328) $- $(148,435,990)
AsOfDecember312016Member
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets accounted for at fair value on a recurring basis Common stock $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 Total assets accounted for at fair value on a recurring basis $18,919,705 $12,008,161 $- $6,911,544 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)

7)_ Fair Value of Financial I43

7): Fair Value of Financial Instruments: Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs (Tables)	3 Months Ended
	Mar. 31, 2017
AsOfMarch312017Member
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 Balance - December 31, 2016, as restated $(49,421,125) $(99,388,662) $6,809,332 $(3,308) Total gains (losses): Included in earnings 265,685 673,850 2,167,593 - Included in other comprehensive income - - - 1,595 Balance - March 31, 2017, as restated $(49,155,440) $(98,714,812) $8,976,925 $(1,713)
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 Balance - December 31, 2015, as restated $(50,694,953) $(69,398,617) $7,671,495 $(13,947) Purchases - (30,294,480) - - Total gains (losses): Included in earnings 1,273,828 304,435 (862,163) - Included in other comprehensive income - - - 10,639 Balance - December 31, 2016, as restated $(49,421,125) $(99,388,662) $6,809,332 $(3,308)

7)_ Fair Value of Financial I44

7): Fair Value of Financial Instruments: Schedule of Fair Value Measurements, Nonrecurring (Tables)	3 Months Ended
	Mar. 31, 2017
AsOfMarch312017Member
Schedule of Fair Value Measurements, Nonrecurring	Quoted Prices in Active Significant Significant Markets for Observable Unobservable Identical Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Assets accounted for at fair value on a nonrecurring basis Mortgage loans on real estate $5,106,278 $- $- $5,106,278 Mortgage servicing rights 1,357,867 - - 1,357,867 Total assets accounted for at fair value on a nonrecurring basis $6,464,145 $- $- $6,464,145
AsOfDecember312016Member
Schedule of Fair Value Measurements, Nonrecurring	Quoted Prices in Active Significant Significant Markets for Observable Unobservable Identical Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Assets accounted for at fair value on a nonrecurring basis Mortgage 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

7)_ Fair Value of Financial I45

7): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables)	3 Months Ended
	Mar. 31, 2017
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 $ 186,445,498 $ - $ 195,986,579 $ - $ 195,986,579 Mortgage loans: Residential 62,961,706 - - 67,122,262 67,122,262 Residential construction 33,817,195 - - 33,817,195 33,817,195 Commercial 37,344,872 - - 38,610,972 38,610,972 Mortgage loans, net $ 134,123,773 $ - $ - $ 139,550,429 $ 139,550,429 Loans held for sale 151,891,428 - - 156,891,384 156,891,384 Policy loans 6,666,500 - - 6,666,500 6,666,500 Insurance assignments, net 32,856,652 - - 32,856,652 32,856,652 Short-term investments 28,346,922 - - 28,346,922 28,346,922 Mortgage servicing rights 19,432,993 - - 26,632,996 26,632,996 Liabilities Bank and other loans payable $ (153,592,365) $- $- $ (153,592,365) $ (153,592,365) 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: 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 $ (152,137,371) $ - $ - $ (152,137,371) $ (152,137,371)

9) Derivative Commitments_ Sche

9) Derivative Commitments: Schedule of Derivative Assets at Fair Value (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of Derivative Assets at Fair Value	Fair Value of Derivative Instruments Asset Derivatives Liability Derivatives March 31, 2017 (As Restated) December 31, 2016 (As Restated) March 31, 2017 December 31, 2016 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 $9,540,950 other assets $6,911,544 Other liabilities $564,025 Other liabilities $102,212 Call options -- -- -- -- Other liabilities 38,628 Other liabilities 109,474 Put options -- -- -- -- Other liabilities 13,700 Other liabilities 26,494 Interest rate swaps -- -- -- -- Bank loans payable 1,713 Bank loans payable 3,308 Total $9,540,950 $6,911,544 $618,066 $241,488

9) Derivative Commitments_ Sc47

9) Derivative Commitments: Schedule of Gains and Losses on Derivatives (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of Gains and Losses on Derivatives	Net Amount Gain (Loss) Recognized in OCI Three Months Ended Mar 31 Derivative - Cash Flow Hedging Relationships: 2017 2016 Interest Rate Swaps $1,595 $2,737 Sub Total 1,595 2,737 Tax Effect 622 1,068 Total $973 $1,669

11) Mortgage Servicing Rights_

11) Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of Mortgage Servicing Rights	As of March 31, 2017 As of December 31, 2016 Amortized cost: Balance before valuation allowance at beginning of year $18,872,362 $12,679,755 MSRs proceeds from loan sales 1,357,867 8,603,154 Amortization (797,236) (2,410,547) Application of valuation allowance to write down MSRs with other than temporary impairment - - Balance before valuation allowance at end of period $19,432,993 $18,872,362 Valuation allowance for impairment of MSRs: Balance at beginning of year $- $- Additions - - Application of valuation allowance to write down MSRs with other than temporary impairment - - Balance at end of period $- $- Mortgage servicing rights, net $19,432,993 $18,872,362 Estimated fair value of MSRs at end of period $26,632,996 $25,496,832

11) Mortgage Servicing Rights49

11) Mortgage Servicing Rights: Schedule of Other Revenues (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of Other Revenues	Three Months Ended Mar 31 2017 2016 Contractual servicing fees $1,835,873 $1,314,285 Late fees 86,338 63,055 Total $1,922,211 $1,377,340

11) Mortgage Servicing Rights50

11) Mortgage Servicing Rights: Summary of Unpaid Principal Balances of the Servicing Portfolio (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Summary of Unpaid Principal Balances of the Servicing Portfolio	As of March 31, 2017 As of December 31, 2016 Servicing UPB $2,744,354,316 $2,720,441,340

11) Mortgage Servicing Rights51

11) Mortgage Servicing Rights: Assumptions used in determining MSR value (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Assumptions used in determining MSR value	Prepayment Speeds Average Life(Years) Discount Rate March 31, 2017 3.79% 6.55 10.01 December 31, 2016 3.77% 6.52 10.01

12) Acquisitions_ Estimated Fai

12) Acquisitions: Estimated Fair Values of Assets Acquired and Liabilities Assumed (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Estimated Fair Values of Assets Acquired and Liabilities Assumed	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

12) Acquisitions_ Business Acqu

12) Acquisitions: Business Acquisition, Pro Forma Information (Tables)	3 Months Ended
	Mar. 31, 2017
Tables/Schedules
Business Acquisition, Pro Forma Information	For the Three Months Ended March 31 (As Restated) (Unaudited) 2017 2016 Total revenues $ 70,829,297 $ 70,614,654 Net earnings $ 1,860,000 $ 2,302,158 Net earnings per Class A equivalent common share $ 0.12 $ 0.16 Net earnings per Class A equivalent common share assuming dilution $ 0.12 $ 0.15

Note 13_ Correction of Errors_

Note 13: Correction of Errors: Schedule of Error Corrections and Prior Period Adjustments (Tables)	3 Months Ended
	Mar. 31, 2017
ConsolidatedBalanceSheetsMember
Schedule of Error Corrections and Prior Period Adjustments	As of March 31, 2017 As Previously Reported Adjustments As Restated Loans held for sale (formerly called Mortgage loans sold to investors) $ 54,401,522 $ 97,489,906 $ 151,891,428 Receivables, net 15,736,045 (9,433,244) 6,302,801 Other assets 8,141,683 4,255,584 12,397,267 Total Assets 867,205,117 92,312,246 959,517,363 Future life, annuity, and other benefits 589,405,726 (1,156,778) 588,248,948 Bank and other loans payable 61,548,686 92,045,392 153,594,078 Income taxes 28,717,508 (3,347,481) 25,370,027 Total liabilities 737,292,214 87,544,133 824,836,347 Retained earnings 64,494,807 4,771,113 69,265,920 Total stockholders' equity 129,909,903 4,771,113 134,681,016 Total Liabilities and Stockholders' Equity 867,205,117 92,312,246 959,517,363 As of December 31, 2016 As Previously Reported Adjustments As Restated Loans held for sale (formerly called Mortgage loans sold to investors) $ 82,491,091 $ 106,648,741 $ 189,139,832 Receivables, net 18,870,119 $ (12,496,755) 6,373,364 Other assets 6,891,468 3,521,926 10,413,394 Total Assets 854,004,671 97,673,912 951,678,583 Future life, annuity, and other benefits 585,610,063 (1,542,371) 584,067,692 Bank and other loans payable 53,718,548 98,422,131 152,140,679 Income taxes 27,904,294 (3,585,425) 24,318,869 Total liabilities 725,825,117 93,294,335 819,119,452 Retained earnings 63,029,627 4,379,577 67,409,204 Total stockholders' equity 128,179,554 4,379,577 132,559,131 Total Liabilities and Stockholders' Equity 854,004,671 97,673,912 951,678,583 As of January 1, 2016 As Previously Reported«9KWA982V» Adjustments As Restated Retained earnings 54,054,950 6,470,454 60,525,404
ConsolidatedStatementsOfEarningsMember
Schedule of Error Corrections and Prior Period Adjustments	Three Months Ended March 31, 2017 As Previously Reported Adjustments As Restated Mortgage fee income $ 37,050,926 $ 1,376,928 $ 38,427,854 Total revenues 69,452,369 1,376,928 70,829,297 Increase in future policy benefits 5,182,449 385,593 5,568,042 Commissions 15,721,074 633,974 16,355,048 Provision for loan loss reserve 426,634 (426,634) - Cost related to funding mortgage loans 2,065,134 154,515 2,219,649 Total benefits and expenses 67,184,079 747,448 67,931,527 Earnings before income taxes 2,268,290 629,480 2,897,770 Income tax expense (799,826) (237,944) (1,037,770) Net earnings 1,468,464 391,536 1,860,000 Net earnings per common share (1) $0.10 $0.03 $0.12 Net earnings per common share assuming dilution (1) $0.09 $0.03 $0.12 Three Months Ended March 31, 2016 As Previously Reported Adjustments As Restated Mortgage fee income $ 39,110,967 $ 2,101,041 $ 41,212,008 Total revenues 67,355,307 2,101,041 69,456,348 Increase in future policy benefits 4,160,260 (38,559) 4,121,701 Commissions 16,842,270 2,368,698 19,210,968 Provision for loan loss reserve 586,778 (586,778) - Cost related to funding mortgage loans 2,154,397 478,357 2,632,754 Total benefits and expenses 63,163,550 2,221,718 65,385,268 Earnings before income taxes 4,191,757 (120,677) 4,071,080 Income tax expense (1,580,220) 47,081 (1,533,139) Net earnings 2,611,537 (73,596) 2,537,941 Net earnings per common share (1) $0.18 ($0.01) $0.17 Net earnings per common share assuming dilution (1) $0.17 ($0.00) $0.17
ConsolidatedStatementsOfComprehensiveIncomeMember
Schedule of Error Corrections and Prior Period Adjustments	Three Months Ended March 31, 2017 As Previously Reported Adjustments As Restated Net earnings $ 1,468,464 $ 391,536 $ 1,860,000 Three Months Ended March 31, 2016 As Previously Reported Adjustments As Restated Net earnings $ 2,611,537 $ (73,596) $ 2,537,941
ConsolidatedStatementsOfCashFlowsMember
Schedule of Error Corrections and Prior Period Adjustments	Three Months Ended March 31, 2017 As Previously Reported Adjustments As Restated Net cash provided by (used in) operating activities $ 24,054,637 $ 6,376,739 $ 30,431,376 Net change in warehouse line borrowings - (6,376,739) (6,376,739) Net cash provided by financing activities 6,229,522 (6,376,739) (147,217) Three Months Ended March 31, 2016 As Previously Reported Adjustments As Restated Net cash provided by (used in) operating activities $ 25,863,034 $ 1,412,370 $ 27,275,404 Net change in warehouse line borrowings - (1,412,370) (1,412,370) Net cash provided by financing activities (100,886) (1,412,370) (1,513,256)

3) Investments_ Held-to-matur55

3) Investments: Held-to-maturity Securities (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
AmortizedCost	$ 186,445,498	$ 184,979,644
Held-to-maturity Securities, Unrecognized Holding Gain	12,415,912	11,078,349
Held-to-maturity Securities, Unrecognized Holding Loss	(2,874,831)	(4,207,244)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	195,986,579	191,850,749
US Treasury and Government
AmortizedCost	4,357,040	4,475,065
Held-to-maturity Securities, Unrecognized Holding Gain	244,853	249,028
Held-to-maturity Securities, Unrecognized Holding Loss	(57,240)	(66,111)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	4,544,653	4,657,982
US States and Political Subdivisions Debt Securities
AmortizedCost	5,995,384	6,017,225
Held-to-maturity Securities, Unrecognized Holding Gain	146,273	153,514
Held-to-maturity Securities, Unrecognized Holding Loss	(132,140)	(133,249)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	6,009,517	6,037,490
Corporate Debt Securities
AmortizedCost	165,716,233	164,375,636
Held-to-maturity Securities, Unrecognized Holding Gain	11,763,828	10,440,989
Held-to-maturity Securities, Unrecognized Holding Loss	(2,443,238)	(3,727,013)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	175,036,823	171,089,612
Collateralized Mortgage Backed Securities
AmortizedCost	9,753,206	9,488,083
Held-to-maturity Securities, Unrecognized Holding Gain	246,004	221,400
Held-to-maturity Securities, Unrecognized Holding Loss	(233,586)	(280,871)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	9,765,624	9,428,612
Redeemable Preferred Stock
AmortizedCost	623,635	623,635
Held-to-maturity Securities, Unrecognized Holding Gain	14,954	13,418
Held-to-maturity Securities, Unrecognized Holding Loss	(8,627)
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	$ 629,962	$ 637,053

3) Investments_ Available-for56

3) Investments: Available-for-sale Securities (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Available-for-sale Securities, Amortized Cost Basis	$ 11,139,482
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	10,735,239
Mortgage loans on real estate and construction	134,123,773	$ 149,181,578
Mortgage loans on real estate and construction, allowance for losses	(1,955,443)	(1,748,783)
Real estate held for investment, net of depreciation	151,417,470	145,165,921
Policy loans	6,666,500	6,694,148
Insurance assignments	33,857,966	33,548,079
Promissory notes	48,797	48,797
Other investments	2,250,000	1,765,752
Allowance for doubtful accounts	(1,050,111)	(1,119,630)
Total policy loans and other investments	41,773,152	40,937,146
Short-term investments at amortized cost	28,346,922	27,560,040
Residential Mortgage
Mortgage loans on real estate and construction	64,629,906	58,593,622
Residential Construction
Mortgage loans on real estate and construction	33,917,309	40,800,117
Commercial Loan
Mortgage loans on real estate and construction	37,532,001	51,536,622
Common Stock
Available-for-sale Securities, Amortized Cost Basis	11,139,482
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	10,735,239
Industrial, miscellaneous and all other equity securities
Available-for-sale Securities, Amortized Cost Basis	11,139,482	10,985,338
Available-for-sale Securities, Gross Unrealized Gain	412,535	447,110
AvailableForSaleSecuritiesGrossUnrealizedLosses	(816,778)	(859,092)
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	10,735,239	10,573,356
Equity Securities
Available-for-sale Securities, Amortized Cost Basis	11,139,482	10,985,338
Available-for-sale Securities, Gross Unrealized Gain	412,535	447,110
AvailableForSaleSecuritiesGrossUnrealizedLosses	(816,778)	(859,092)
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	$ 10,735,239	$ 10,573,356

3) Investments_ Schedule of U57

3) Investments: Schedule of Unrealized Loss on Investments (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Held-to-maturity Securities, Unrecognized Holding Loss	$ 2,874,831	$ 4,207,244
Held-to-maturity Securities, Fair Value	49,368,427	64,910,462
Fair Value	5,109,945	3,749,018
USTreasurySecurities1Member
Held-to-maturity Securities, Fair Value	1,345,231	1,342,088
US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	132,140	133,249
Held-to-maturity Securities, Fair Value	3,270,595	3,686,856
Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	2,443,238	3,727,013
Held-to-maturity Securities, Fair Value	41,438,648	54,765,151
Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	233,586	280,871
Held-to-maturity Securities, Fair Value	3,215,843	5,116,367
Redeemable Preferred Stock
Held-to-maturity Securities, Unrecognized Holding Loss	8,627
Held-to-maturity Securities, Fair Value	98,110
Industrial, miscellaneous and all other equity securities
AvailableForSaleSecuritiesGrossUnrealizedLosses	816,778	859,092
Equity Securities
AvailableForSaleSecuritiesGrossUnrealizedLosses	816,778	859,092
Less than 12 months
Held-to-maturity Securities, Unrecognized Holding Loss	1,419,742	2,104,387
Held-to-maturity Securities, Fair Value	35,534,968	51,001,049
Fair Value	3,955,133	2,063,144
Less than 12 months | USTreasurySecurities1Member
Held-to-maturity Securities, Unrecognized Holding Loss	57,240	66,111
Held-to-maturity Securities, Fair Value	1,345,231	1,342,088
Less than 12 months | US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	132,140	133,249
Held-to-maturity Securities, Fair Value	3,270,595	3,686,856
Less than 12 months | Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	1,094,907	1,728,312
Held-to-maturity Securities, Fair Value	29,075,748	41,796,016
Less than 12 months | Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	126,828	176,715
Held-to-maturity Securities, Fair Value	1,745,284	4,176,089
Less than 12 months | Redeemable Preferred Stock
Held-to-maturity Securities, Unrecognized Holding Loss	8,627
Held-to-maturity Securities, Fair Value	98,110
Less than 12 months | Industrial, miscellaneous and all other equity securities
AvailableForSaleSecuritiesGrossUnrealizedLosses	$ 178,006	$ 215,563
No. of Investment Positions	149	124
Less than 12 months | Equity Securities
AvailableForSaleSecuritiesGrossUnrealizedLosses	$ 178,006	$ 215,563
No. of Investment Positions	149	124
More than 12 months
Held-to-maturity Securities, Unrecognized Holding Loss	$ 1,455,089	$ 2,102,857
Held-to-maturity Securities, Fair Value	13,833,459	13,909,413
Fair Value	1,154,812	1,685,874
More than 12 months | Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	1,348,331	1,998,701
Held-to-maturity Securities, Fair Value	12,362,900	12,969,135
More than 12 months | Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	106,758	104,156
Held-to-maturity Securities, Fair Value	1,470,559	940,278
More than 12 months | Industrial, miscellaneous and all other equity securities
AvailableForSaleSecuritiesGrossUnrealizedLosses	$ 638,772	$ 643,529
No. of Investment Positions	105	104
More than 12 months | Equity Securities
AvailableForSaleSecuritiesGrossUnrealizedLosses	$ 638,772	$ 643,529
No. of Investment Positions	105	104
TotalMember
Held-to-maturity Securities, Unrecognized Holding Loss	$ 2,874,831	$ 4,207,244
TotalMember | USTreasurySecurities1Member
Held-to-maturity Securities, Unrecognized Holding Loss	57,240	66,111
TotalMember | US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	132,140	133,249
TotalMember | Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	2,443,238	3,727,013
TotalMember | Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	233,586	$ 280,871
TotalMember | Redeemable Preferred Stock
Held-to-maturity Securities, Unrecognized Holding Loss	$ 8,627

3) Investments (Details)

3) Investments (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Average market value over amortized cost	94.50%		93.90%
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Period Increase (Decrease)	$ 52,139	$ 30,000
Net Investment Income	9,563,282	8,992,191
Securities on deposit for regulatory authorities	9,268,330		$ 9,269,121
Cemeteries and mortuaries
Net Investment Income	$ 115,501	$ 87,976

3) Investments_ Equity Securiti

3) Investments: Equity Securities - Additional (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2017	Dec. 31, 2016
Average Market Value of Security over initial investment		86.20%	81.40%
Equity Securities
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities	$ 43,630

3) Investments_ Investments C60

3) Investments: Investments Classified by Contractual Maturity Date (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
AmortizedCost	$ 186,445,498	$ 184,979,644
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	195,986,579	191,850,749
Available-for-sale Securities, Amortized Cost Basis	11,139,482
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	10,735,239
Collateralized Mortgage Backed Securities
AmortizedCost	9,753,206	9,488,083
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	9,765,624	9,428,612
Redeemable Preferred Stock
AmortizedCost	623,635	623,635
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	629,962	$ 637,053
Common Stock
Available-for-sale Securities, Amortized Cost Basis	11,139,482
Represents the monetary amount of AvailableForSaleSecuritiesEstimatedFairValue, as of the indicated date.	10,735,239
DueIn2017Member
AmortizedCost	5,625,049
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	5,677,028
DueIn2018Through2021Member
AmortizedCost	42,733,718
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	44,794,103
DueIn2022Through2026Member
AmortizedCost	43,263,792
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	45,020,917
DueAfter2026Member
AmortizedCost	84,446,098
Represents the monetary amount of HeldToMaturitySecuritiesEstimatedFairValue, as of the indicated date.	$ 90,098,945

3) Investments_ Gain (Loss) o61

3) Investments: Gain (Loss) on Investments (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fixed maturity securities held to maturity:	$ 93,191	$ 24,292
Held-to-maturity Securities
Gross Realized Gains	2,434
Gross Realized Losses		(24,795)
Other than Temporary Impairments	(52,139)	(30,000)
Available-for-sale Securities
Gross Realized Gains	60,978	63,495
Gross Realized Losses	(4,556)	(23,878)
Other than Temporary Impairments		(43,630)
Other Assets
Gross Realized Gains	456,275	84,768
Gross Realized Losses	$ (369,801)	$ (1,668)

3) Investments_ Net carrying am

3) Investments: Net carrying amount of held to maturity securities (Details) - Held-to-maturity Securities	3 Months Ended
	Mar. 31, 2017USD ($)
Net carrying amount for sales of securities	$ 28,073
Net realized gain related to sales of securities	$ 2,434

3) Investments_ Schedule of M63

3) Investments: Schedule of Major categories of net investment income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Gross investment income	$ 12,911,631	$ 12,136,747
Investment Income, Investment Expense	(3,348,349)	(3,144,556)
Net Investment Income	9,563,282	8,992,191
Fixed Maturities
Gross investment income	2,368,710	2,050,569
Equity Securities
Gross investment income	54,786	71,041
Mortgage Loans - Real Estate
Gross investment income	2,223,139	2,026,515
Real Estate
Gross investment income	2,894,331	2,838,484
PolicyStudentAndOtherLoansMember
Gross investment income	193,734	182,206
Insurance Assignments
Gross investment income	3,364,642	3,104,788
Other investments
Gross investment income	7,543
Short-term investments, principally gains on sale of mortgage loans
Gross investment income	$ 1,804,746	$ 1,863,144

3) Investments_ Commercial Re64

3) Investments: Commercial Real Estate Investment (Details)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	$ 151,417,470	$ 145,165,921
Commercial Real Estate 1
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	$ 78,239,031	$ 68,973,936
Square Footage	739,747	739,747
Commercial Real Estate 1 | ArizonaMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	$ 447,229	$ 450,538
Square Footage	16,270	16,270
Commercial Real Estate 1 | ArkansasMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	$ 99,319	$ 100,369
Square Footage	3,200	3,200
Commercial Real Estate 1 | KansasMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	$ 12,512,451	$ 12,450,297
Square Footage	222,679	222,679
Commercial Real Estate 1 | LouisianaMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	$ 512,324	$ 518,700
Square Footage	7,063	7,063
Commercial Real Estate 1 | MississippiMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	$ 3,795,355	$ 3,818,985
Square Footage	33,821	33,821
Commercial Real Estate 1 | NewMexicoMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	$ 7,000	$ 7,000
Commercial Real Estate 1 | TexasMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	$ 3,760,499	$ 3,734,974
Square Footage	23,470	23,470
Commercial Real Estate 1 | UtahMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	$ 57,104,854	$ 47,893,073
Square Footage	433,244	433,244

3) Investments_ Residential R65

3) Investments: Residential Real Estate Investment (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	$ 151,417,470	$ 145,165,921
Residential Real Estate 1
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	73,178,439	76,191,985
Residential Real Estate 1 | ArizonaMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	739,333	742,259
Residential Real Estate 1 | CaliforniaMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	5,404,417	5,848,389
Residential Real Estate 1 | ColoradoMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	204,538	364,489
Residential Real Estate 1 | FloridaMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	8,273,416	8,327,355
Residential Real Estate 1 | OhioMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	46,658	46,658
Residential Real Estate 1 | OklahomaMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	17,500
Residential Real Estate 1 | TexasMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	777,843	1,091,188
Residential Real Estate 1 | UtahMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	57,428,553	59,485,466
Residential Real Estate 1 | WashingtonMember
Real estate held for investment, net of accumulated depreciation of $16,732,122 and $16,138,439 for 2017 and 2016	$ 286,181	$ 286,181

3) Investments_ Mortgage Loans

3) Investments: Mortgage Loans - Additional (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Details
Mortgage loans on real estate balances, net of allowance for losses	$ 1,955,443	$ 1,748,783

3) Investments_ Schedule of A67

3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Financing Receivable, Allowance for Credit Losses, Beginning Balance	$ 1,748,783	$ 1,848,120
Allowance for credit losses, Charge-offs	(16,226)	(420,135)
Allowance for credit losses, Provision	222,886	320,798
Financing Receivable, Allowance for Credit Losses, Ending Balance	1,955,443	1,748,783
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	423,487	374,501
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,531,956	1,374,282
Mortgage loans	136,079,216	150,930,361
Financing Receivable, Individually Evaluated for Impairment	5,529,766	3,184,425
Financing Receivable, Collectively Evaluated for Impairment	130,549,450	147,745,936
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	37,532,001	51,536,622
Financing Receivable, Individually Evaluated for Impairment	203,264	202,992
Financing Receivable, Collectively Evaluated for Impairment	37,328,737	51,333,630
Residential Mortgage
Financing Receivable, Allowance for Credit Losses, Beginning Balance	1,461,540	1,560,877
Allowance for credit losses, Charge-offs	(16,226)	(420,135)
Allowance for credit losses, Provision	222,886	320,798
Financing Receivable, Allowance for Credit Losses, Ending Balance	1,668,200	1,461,540
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	423,487	374,501
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,244,713	1,087,039
Mortgage loans	64,629,906	58,593,622
Financing Receivable, Individually Evaluated for Impairment	4,842,306	2,916,538
Financing Receivable, Collectively Evaluated for Impairment	59,787,600	55,677,084
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	33,917,309	40,800,117
Financing Receivable, Individually Evaluated for Impairment	484,196	64,895
Financing Receivable, Collectively Evaluated for Impairment	$ 33,433,113	$ 40,735,222

3) Investments_ Schedule of a68

3) Investments: Schedule of aging of mortgage loans (Details) - USD ($)		3 Months Ended	12 Months Ended
		Mar. 31, 2017	Dec. 31, 2016
Mortgage Loans during period		$ 136,079,216	$ 150,930,361
Mortgage Loans, Allowance for Loan Losses		(1,955,443)	(1,748,783)
Commercial Loan
Mortgage Loans during period		37,532,001	51,536,622
Mortgage Loans, Allowance for Loan Losses		(187,129)	(187,129)
Residential Mortgage
Mortgage Loans during period		64,629,906	58,593,622
Mortgage Loans, Allowance for Loan Losses		(1,668,200)	(1,461,540)
Residential Construction
Mortgage Loans during period		33,917,309	40,800,117
Mortgage Loans, Allowance for Loan Losses		(100,114)	(100,114)
Past due 30 to 59 days
Mortgage Loans during period		2,280,793	964,960
Past due 30 to 59 days | Commercial Loan
Mortgage Loans during period		1,547,419
Past due 30 to 59 days | Residential Mortgage
Mortgage Loans during period		733,374	964,960
Past due 60 to 89 days
Mortgage Loans during period		91,433	996,779
Past due 60 to 89 days | Residential Mortgage
Mortgage Loans during period		91,433	996,779
Past due 90 or more days
Mortgage Loans during period	[1]	1,516,477	1,355,250
Past due 90 or more days | Residential Mortgage
Mortgage Loans during period	[1]	1,451,582	1,290,355
Past due 90 or more days | Residential Construction
Mortgage Loans during period	[1]	64,895	64,895
In Foreclosure
Mortgage Loans during period	[1]	4,013,289	1,829,175
In Foreclosure | Commercial Loan
Mortgage Loans during period	[1]	203,264	202,992
In Foreclosure | Residential Mortgage
Mortgage Loans during period	[1]	3,390,724	1,626,183
In Foreclosure | Residential Construction
Mortgage Loans during period	[1]	419,301
Total Past Due
Mortgage Loans during period		7,901,992	5,146,164
Total Past Due | Commercial Loan
Mortgage Loans during period		1,750,683	202,992
Total Past Due | Residential Mortgage
Mortgage Loans during period		5,667,113	4,878,277
Total Past Due | Residential Construction
Mortgage Loans during period		484,196	64,895
Current
Mortgage Loans during period		128,177,224	145,784,197
Current | Commercial Loan
Mortgage Loans during period		35,781,318	51,333,630
Current | Residential Mortgage
Mortgage Loans during period		58,962,793	53,715,345
Current | Residential Construction
Mortgage Loans during period		$ 33,433,113	$ 40,735,222
[1]	There was not any interest income recognized on loans past due greater than 90 days or in foreclosure.

3) Investments_ Schedule of I69

3) Investments: Schedule of Impaired Mortgage Loans (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Commercial Loan
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	$ 203,264	$ 202,992
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	203,264	202,992
Impaired Financing Receivable, with Related Allowance, Recorded Investment	203,264	202,992
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	203,264	202,992
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	203,264	202,992
Residential Construction
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	484,196	64,895
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	484,196	64,895
Impaired Financing Receivable, with Related Allowance, Recorded Investment	484,196	64,895
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	484,196	64,895
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	484,196	64,895
Residential Mortgage
Impaired Financing Receivable, with Related Allowance, Recorded Investment	4,842,306	2,916,538
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	4,842,306	2,916,538
Impaired Financing Receivable, Related Allowance	423,487	374,501
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	4,842,306	2,916,538
TotalResidentialMortgageMember
Impaired Financing Receivable, with Related Allowance, Recorded Investment	4,842,306	2,916,538
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	4,842,306	2,916,538
Impaired Financing Receivable, Related Allowance	423,487	374,501
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	$ 4,842,306	$ 2,916,538

3) Investments_ Schedule Of C70

3) Investments: Schedule Of Credit Risk Of Mortgage Loans Based On Performance Status (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Mortgage loans	$ 136,079,216	$ 150,930,361
Commercial Loan
Mortgage loans	37,532,001	51,536,622
Residential Mortgage
Mortgage loans	64,629,906	58,593,622
Residential Construction
Mortgage loans	$ 33,917,309	$ 40,800,117

3) Investments_ Summary of Inte

3) Investments: Summary of Interest not accrued on non-performing mortgage loans (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Details
Interest not accrued on non-performing loans	$ 156,000	$ 172,000

3) Investments_ Schedule of M72

3) Investments: Schedule of Mortgage loans on a nonaccrual status (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	$ 5,529,766	$ 3,184,425
Commercial Loan
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	203,264	202,992
Residential Mortgage
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	4,842,306	2,916,538
Residential Construction
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	$ 484,196	$ 64,895

3) Investments_ Schedule of l73

3) Investments: Schedule of loan loss reserve which is included in other liabilities and accrued expenses (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Details
Beginning, Loan Loss Reserve	$ 627,733	$ 2,805,900
Provision for current loan originations	426,634	2,988,754
Provision for loan loss reserve		1,700,000
Loan loss reserve, Charge-offs	10,708	(6,866,921)
Ending, Loan Loss Reserve	$ 1,065,075	$ 627,733

4) Stock-based Compensation (De

4) Stock-based Compensation (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Details
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 101,996	$ 84,452
Unrecognized compensation expense related to the options issued in December 2014	$ 273,464
Total intrinsic value		$ 91,989

4) Stock-based Compensation_ 75

4) Stock-based Compensation: Schedule of stock inventive plan changes (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Class A Common Stock
Shares, Outstanding	741,973	589,801	741,973	618,261
Shares outstanding	$ 4.33	$ 3.97	$ 4.33	$ 3.89
Shares Exercised		(28,460)
Per Share Shares Exercised		$ 2.15
Options Exercisable	636,764	484,659
Options exercisable	$ 3.94	$ 3.45
Available options for future grant	$ 253,432	$ 454,842
Weighted average contractual term of options outstanding	7.12 years	7.50 years
Weighted average contractual term of options exercisable	6.70 years	7.03 years
Aggregated intrinsic value of options outstanding	$ 1,837,828	$ 844,342
Aggregated intrinsic value of options exercisable	$ 1,824,086	$ 844,342
Class C Common Stock
Shares, Outstanding	556,298	577,436	556,298	577,436
Shares outstanding	$ 4.61	$ 3.54	$ 4.61	$ 3.54
Options Exercisable	493,298	498,686
Options exercisable	$ 4.26	$ 2.99
Available options for future grant		$ 57,750
Weighted average contractual term of options outstanding	2.42 years	2.50 years
Weighted average contractual term of options exercisable	2.13 years	2.16 years
Aggregated intrinsic value of options outstanding	$ 1,264,540	$ 1,096,391
Aggregated intrinsic value of options exercisable	$ 1,264,540	$ 1,096,391

5) Earnings Per Share_ Schedu76

5) Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Details
Net earnings	$ 1,860,000	$ 2,537,941
Weighted-average Class A equivalent common share outstanding (1)	15,058,153	14,656,450
GrantOfEmployeeStockOptions	$ 469,843	$ 455,828
Diluted weighted-average shares outstanding	15,527,996	15,112,278
Net earnings per Class A Equivalent common share (1)	$ 0.12	$ 0.17
Net earnings per Class A Equivalent common share-assuming dilution (1)	$ 0.12	$ 0.17

5) Earnings Per Share (Details)

5) Earnings Per Share (Details) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Details
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount	$ 89,250	$ 250,039

6) Business Segments_ Schedul78

6) Business Segments: Schedule of Revenues and Expenses by Reportable Segment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Revenue from customers	$ 70,829,297	$ 69,456,348
SegmentReportingInformationIncomeLossBeforeIncomeTaxes	2,897,770	4,071,080
Identifiable Assets	959,517,363	845,874,574
Goodwill	2,765,570	2,765,570	$ 2,765,570
Life Insurance Segment
Revenue from customers	26,158,701	22,075,134
SegmentReportingInformationIntersegmentRevenue	2,988,651	3,103,446
SegmentReportingInformationIncomeLossBeforeIncomeTaxes	1,483,480	1,103,727
Identifiable Assets	833,999,127	724,858,698
Goodwill	2,765,570	2,765,570
Cemetery and Mortuary
Revenue from customers	3,604,897	3,330,766
SegmentReportingInformationIntersegmentRevenue	109,351	286,925
SegmentReportingInformationIncomeLossBeforeIncomeTaxes	758,911	469,055
Identifiable Assets	99,554,821	96,827,903
Mortgage
Revenue from customers	41,065,699	44,050,448
SegmentReportingInformationIntersegmentRevenue	95,770	79,479
SegmentReportingInformationIncomeLossBeforeIncomeTaxes	655,379	2,498,298
Identifiable Assets	164,990,647	157,602,831
Significant Reconciling Items
SegmentReportingInformationIntersegmentRevenue	(3,193,772)	(3,469,850)
Identifiable Assets	$ (139,027,232)	$ (133,414,858)

7)_ Fair Value of Financial I79

7): Fair Value of Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Assets accounted for at fair value on a recurring basis
Available-for-sale Securities	$ 10,735,239	$ 10,573,356
Restricted assets of cemeteries and mortuaries	752,814	736,603
Cemetery perpetual care trust investments	672,922	698,202
Derivatives - loan commitments	9,540,950	6,911,544
Assets, Fair Value Disclosure	21,701,925	18,919,705
Liabilities accounted for at fair value on a recurring basis
Policyholder account balances	(49,155,440)	(49,421,125)
Future policy benefits - annuities	(98,714,812)	(99,388,662)
Derivatives - bank loan interest rate swaps	(1,713)	(3,308)
Derivatives - Call Options	(38,628)	(109,474)
Derivatives - Put Options	(13,700)	(26,494)
Derivatives - loan commitments1	(564,025)	(102,212)
Liabilities accounted for at fair value	(148,488,318)	(149,051,275)
Fair Value, Inputs, Level 1
Assets accounted for at fair value on a recurring basis
Available-for-sale Securities	10,735,239	10,573,356
Restricted assets of cemeteries and mortuaries	752,814	736,603
Cemetery perpetual care trust investments	672,922	698,202
Assets, Fair Value Disclosure	12,160,975	12,008,161
Liabilities accounted for at fair value on a recurring basis
Derivatives - Call Options	(38,628)	(109,474)
Derivatives - Put Options	(13,700)	(26,494)
Liabilities accounted for at fair value	(52,328)	(135,968)
Fair Value, Inputs, Level 3
Assets accounted for at fair value on a recurring basis
Derivatives - loan commitments	9,540,950	6,911,544
Assets, Fair Value Disclosure	9,540,950	6,911,544
Liabilities accounted for at fair value on a recurring basis
Policyholder account balances	(49,155,440)	(49,421,125)
Future policy benefits - annuities	(98,714,812)	(99,388,662)
Derivatives - bank loan interest rate swaps	(1,713)	(3,308)
Derivatives - loan commitments1	(564,025)	(102,212)
Liabilities accounted for at fair value	$ (148,435,990)	$ (148,915,307)

7)_ Fair Value of Financial I80

7): Fair Value of Financial Instruments: Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Policyholder Account Balances
Fair Value Balance	$ (49,421,125)	$ (50,694,953)
Fair Value, Losses (Gains) included in earnings	265,685	1,273,828
Fair Value Balance	(49,155,440)	(49,421,125)
Future Policy Benefits - Annuities
Fair Value Balance	(99,388,662)	(69,398,617)
Fair Value, Losses (Gains) included in earnings	673,850	304,435
Fair Value Balance	(98,714,812)	(99,388,662)
Fair Value, Purchases		(30,294,480)
Loan Commitments
Fair Value Balance	6,809,332	7,671,495
Fair Value, Losses (Gains) included in earnings	2,167,593	(862,163)
Fair Value Balance	8,976,925	6,809,332
Bank Loan Interest Rate Swaps
Fair Value Balance	(3,308)	(13,947)
Fair Value, Losses (Gains) included in other comprehensive income	1,595	10,639
Fair Value Balance	$ (1,713)	$ (3,308)

7)_ Fair Value of Financial I81

7): Fair Value of Financial Instruments: Schedule of Fair Value Measurements, Nonrecurring (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Mortgage Loans on Real Estate	$ 5,106,278	$ 2,809,925
Assets accounted for at fair value on a nonrecurring basis - Mortgage servicing rights	1,357,867	8,603,154
Assets, Fair Value Disclosure, Nonrecurring	6,464,145	13,760,899
Assets accounted for at fair value on non-recurring basis
Real estate held for investment		2,347,820
Fair Value, Inputs, Level 3
Mortgage Loans on Real Estate	5,106,278	2,809,925
Assets accounted for at fair value on a nonrecurring basis - Mortgage servicing rights	1,357,867	8,603,154
Assets, Fair Value Disclosure, Nonrecurring	$ 6,464,145	13,760,899
Assets accounted for at fair value on non-recurring basis
Real estate held for investment		$ 2,347,820

7)_ Fair Value of Financial I82

7): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Fixed maturity securities, held to maturity
Carrying Value	$ 186,445,498	$ 184,979,644
Estimated Fair Value	195,986,579	191,850,749
Residential Mortgage
Carrying Value	62,961,706	57,132,082
Estimated Fair Value	67,122,262	61,357,393
Residential Construction
Carrying Value	33,817,195	40,700,003
Estimated Fair Value	33,817,195	40,700,003
Commercial Loan
Carrying Value	37,344,872	51,349,493
Estimated Fair Value	38,610,972	53,299,800
MortgageLoansNet1Member
Carrying Value	134,123,773	149,181,578
Estimated Fair Value	139,550,429	155,357,196
Loans held for sale
Carrying Value	151,891,428	189,139,832
Estimated Fair Value	156,891,384	192,289,854
PolicyLoanMember
Carrying Value	6,666,500	6,694,148
Estimated Fair Value	6,666,500	6,694,148
Insurance Assignments
Carrying Value	32,856,652	32,477,246
Estimated Fair Value	32,856,652	32,477,246
ShortTermInvestments1Member
Carrying Value	28,346,922	27,560,040
Estimated Fair Value	28,346,922	27,560,040
Mortgage servicing rights
Carrying Value	19,432,993	18,872,362
Estimated Fair Value	26,632,996	25,496,832
Bank and other loans payable
Carrying Value	(153,592,365)	(152,137,371)
Estimated Fair Value	(153,592,365)	(152,137,371)
Fair Value, Inputs, Level 2 | Fixed maturity securities, held to maturity
Estimated Fair Value	195,986,579	191,850,749
Fair Value, Inputs, Level 3 | Residential Mortgage
Estimated Fair Value	67,122,262	61,357,393
Fair Value, Inputs, Level 3 | Residential Construction
Estimated Fair Value	33,817,195	40,700,003
Fair Value, Inputs, Level 3 | Commercial Loan
Estimated Fair Value	38,610,972	53,299,800
Fair Value, Inputs, Level 3 | MortgageLoansNet1Member
Estimated Fair Value	139,550,429	155,357,196
Fair Value, Inputs, Level 3 | Loans held for sale
Estimated Fair Value	156,891,384	192,289,854
Fair Value, Inputs, Level 3 | PolicyLoanMember
Estimated Fair Value	6,666,500	6,694,148
Fair Value, Inputs, Level 3 | Insurance Assignments
Estimated Fair Value	32,856,652	32,477,246
Fair Value, Inputs, Level 3 | ShortTermInvestments1Member
Estimated Fair Value	28,346,922	27,560,040
Fair Value, Inputs, Level 3 | Mortgage servicing rights
Estimated Fair Value	26,632,996	25,496,832
Fair Value, Inputs, Level 3 | Bank and other loans payable
Estimated Fair Value	$ (153,592,365)	$ (152,137,371)

9) Derivative Commitments_ Sc83

9) Derivative Commitments: Schedule of Derivative Assets at Fair Value (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Details
Fair Value of Asset Derivatives, loan commitments	$ 9,540,950	$ 6,911,544
Fair Value of Liability Derivatives, loan commitments	564,025	102,212
Fair Value of Liability Derivatives, Call Options	38,628	109,474
Fair Value of Liability Derivatives, Put Options	13,700	26,494
Fair Value of Liability Derivatives, Interest Rate Swaps	1,713	3,308
Fair Value of Asset Derivatives, Total	9,540,950	6,911,544
Fair Value of Liability Derivatives, Total	$ 618,066	$ 241,488

9) Derivative Commitments_ Sc84

9) Derivative Commitments: Schedule of Gains and Losses on Derivatives (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Details
Gain (Loss) on Derivatives, Interest Rate Swaps	$ 1,595	$ 2,737
GainLossOnDerivativesSubTotal	1,595	2,737
TaxEffect-GainLossOnDerivatives	622	1,068
Gain (Loss) on Derivatives, Total	$ 973	$ 1,669

10) Reinsurance, Commitments 85

10) Reinsurance, Commitments and Contingencies: Mortgage Loan Loss Settlements (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Details
Funds reserved and accrued to settle investor related claims	$ 1,065,000	$ 628,000

10) Reinsurance, Commitments 86

10) Reinsurance, Commitments and Contingencies: Other Contingencies and Commitments (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Details
Commitments to fund new residential construction loans	$ 45,923,000
Commitments to fund new residential construction loans funded	33,917,000
Reserves related to insurance programs	$ 471,607	$ 416,576

11) Mortgage Servicing Rights87

11) Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Details
Balance before valuation allowance at beginning of year	$ 18,872,362	$ 12,679,755
MSRs proceeds from loan sales	1,357,867	8,603,154
Amortization	(797,236)	(2,410,547)
Balance before valuation allowance at year end	19,432,993	18,872,362
Mortgage servicing rights, net	19,432,993	18,872,362
Estimated fair value of MSRs at end of period	$ 26,632,996	$ 25,496,832

11) Mortgage Servicing Rights88

11) Mortgage Servicing Rights: Schedule of Other Revenues (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other Revenue, Net	$ 1,922,211	$ 1,377,340
Contractual Servicing Fees
Other Revenue, Net	1,835,873	1,314,285
Late fees
Other Revenue, Net	$ 86,338	$ 63,055

11) Mortgage Servicing Rights89

11) Mortgage Servicing Rights: Summary of Unpaid Principal Balances of the Servicing Portfolio (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Details
Servicing Unpaid Principal Balance	$ 2,744,354,316	$ 2,720,441,340

11) Mortgage Servicing Rights90

11) Mortgage Servicing Rights: Assumptions used in determining MSR value (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Details
Prepayment Speeds	3.79%	3.77%
Average Life in Years of MSR	6.55	6.52
Discount Rate	10.01%	10.01%

12) Acquisitions_ Estimated F91

12) Acquisitions: Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details)	3 Months Ended
	Mar. 31, 2017USD ($)
Details
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fixed Maturity Securities, Held to Maturity	$ 43,878,084
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equity Securities, Available for Sale	646,335
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Mortgage Loans on Real Estate	4,528,582
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Real Estate Held for Investment	528,947
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Policy Loans	145,953
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Short-term Investments	5,358,403
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Accrued Investment Income	585,985
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	2,424,480
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables	73,347
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	21,083
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	1,190,862
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Received from Reinsurers	34,948
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other	57,768
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	59,474,777
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Future Life, Annuity, and other Benefits	(52,648,838)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	(6,953)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	(65,986)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	(52,721,777)
Fair Value of Assets Acquired	$ 6,753,000

12) Acquisitions_ Business Ac92

12) Acquisitions: Business Acquisition, Pro Forma Information (Details) - First Guaranty Insurance Company - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Business Acquisition, Pro Forma Revenue	$ 70,829,297	$ 70,614,654
Business Acquisition, Pro Forma Net Income (Loss)	$ 1,860,000	$ 2,302,158
Business Acquisition, Pro Forma Earnings Per Share, Basic	$ 0.12	$ 0.16
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$ 0.12	$ 0.15

Note 13_ Correction of Errors93

Note 13: Correction of Errors: Schedule of Error Corrections and Prior Period Adjustments (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Receivables, net	$ 6,302,801		$ 6,373,364
Other assets	12,397,267		10,413,394
Total Assets	959,517,363		951,678,583
Future life, annuity, and other benefits	588,248,948		584,067,692
Bank and other loans payable	153,594,078		152,140,679
Income taxes	25,370,027		24,318,869
Total liabilities	824,836,347		819,119,452
Retained earnings	69,265,920		67,409,204
Total stockholders' equity	134,681,016	$ 120,986,390	132,559,131	$ 117,716,679
Total Liabilities and Stockholders' Equity	959,517,363		951,678,583
Mortgage fee income	38,427,854	41,212,008
Total revenues	70,829,297	69,456,348
Increase in future policy benefits	5,568,042	4,121,701
Commissions	16,355,048	19,210,968
Provision for loan loss reserve			1,700,000
Costs related to funding mortgage loans	2,219,649	2,632,754
Total benefits and expenses	67,931,527	65,385,268
Earnings before income taxes	2,897,770	4,071,080
Income tax expense	1,037,770	1,533,139
Net earnings	$ 1,860,000	$ 2,537,941
Net earnings per Class A Equivalent common share (1)	$ 0.12	$ 0.17
Net earnings per Class A Equivalent common share-assuming dilution (1)	$ 0.12	$ 0.17
Net cash provided by operating activities	$ 30,431,376	$ 27,275,404
Net change in warehouse line borrowings	(6,376,739)	(1,412,370)
Net cash used in financing activities	(147,217)	$ (1,513,256)
Scenario, Previously Reported
Represents the monetary amount of LoansHeldForSale, as of the indicated date.	54,401,522		82,491,091
Receivables, net	15,736,045		18,870,119
Other assets	8,141,683		6,891,468
Total Assets	867,205,117		854,004,671
Future life, annuity, and other benefits	589,405,726		585,610,063
Bank and other loans payable	61,548,686		53,718,548
Income taxes	28,717,508		27,904,294
Total liabilities	737,292,214		725,825,117
Retained earnings	64,494,807		63,029,627	54,054,950
Total stockholders' equity	129,909,903		128,179,554
Total Liabilities and Stockholders' Equity	867,205,117		854,004,671
Mortgage fee income	37,050,926		39,110,967
Total revenues	69,452,369		67,355,307
Increase in future policy benefits	5,182,449		4,160,260
Commissions	15,721,074		16,842,270
Provision for loan loss reserve	426,634		586,778
Costs related to funding mortgage loans	2,065,134		2,154,397
Total benefits and expenses	67,184,079		63,163,550
Earnings before income taxes	2,268,290		4,191,757
Income tax expense	(799,826)		(1,580,220)
Net earnings	$ 1,468,464		$ 2,611,537
Net earnings per Class A Equivalent common share (1)	$ 0.10		$ 0.18
Net earnings per Class A Equivalent common share-assuming dilution (1)	$ 0.09		$ 0.17
Net cash provided by operating activities	$ 24,054,637		$ 25,863,034
Net cash used in financing activities	6,229,522		(100,886)
Scenario, Adjustment
Represents the monetary amount of LoansHeldForSale, as of the indicated date.	97,489,906		106,648,741
Receivables, net	(9,433,244)		(12,496,755)
Other assets	4,255,584		3,521,926
Total Assets	92,312,246		97,673,912
Future life, annuity, and other benefits	(1,156,778)		(1,542,371)
Bank and other loans payable	92,045,392		98,422,131
Income taxes	(3,347,481)		(3,585,425)
Total liabilities	87,544,133		93,294,335
Retained earnings	4,771,113		4,379,577	6,470,454
Total stockholders' equity	4,771,113		4,379,577
Total Liabilities and Stockholders' Equity	92,312,246		97,673,912
Mortgage fee income	1,376,928		2,101,041
Total revenues	1,376,928		2,101,041
Increase in future policy benefits	385,593		(38,559)
Commissions	633,974		2,368,698
Provision for loan loss reserve	(426,634)		(586,778)
Costs related to funding mortgage loans	154,515		478,357
Total benefits and expenses	747,448		2,221,718
Earnings before income taxes	629,480		(120,677)
Income tax expense	(237,944)		47,081
Net earnings	$ 391,536		$ (73,596)
Net earnings per Class A Equivalent common share (1)	$ 0.03		$ (0.01)
Net earnings per Class A Equivalent common share-assuming dilution (1)	$ 0.03		$ 0
Net cash provided by operating activities	$ 6,376,739		$ 1,412,370
Net change in warehouse line borrowings	(6,376,739)		(1,412,370)
Net cash used in financing activities	(6,376,739)		(1,412,370)
Restatement Adjustment
Represents the monetary amount of LoansHeldForSale, as of the indicated date.	151,891,428		189,139,832
Receivables, net	6,302,801		6,373,364
Other assets	12,397,267		10,413,394
Total Assets	959,517,363		951,678,583
Future life, annuity, and other benefits	588,248,948		584,067,692
Bank and other loans payable	153,594,078		152,140,679
Income taxes	25,370,027		24,318,869
Total liabilities	824,836,347		819,119,452
Retained earnings	69,265,920		67,409,204	$ 60,525,404
Total stockholders' equity	134,681,016		132,559,131
Total Liabilities and Stockholders' Equity	959,517,363		951,678,583
Mortgage fee income	38,427,854		41,212,008
Total revenues	70,829,297		69,456,348
Increase in future policy benefits	5,568,042		4,121,701
Commissions	16,355,048		19,210,968
Costs related to funding mortgage loans	2,219,649		2,632,754
Total benefits and expenses	67,931,527		65,385,268
Earnings before income taxes	2,897,770		4,071,080
Income tax expense	(1,037,770)		(1,533,139)
Net earnings	$ 1,860,000		$ 2,537,941
Net earnings per Class A Equivalent common share (1)	$ 0.12		$ 0.17
Net earnings per Class A Equivalent common share-assuming dilution (1)	$ 0.12		$ 0.17
Net cash provided by operating activities	$ 30,431,376		$ 27,275,404
Net change in warehouse line borrowings	(6,376,739)		(1,412,370)
Net cash used in financing activities	$ (147,217)		$ (1,513,256)