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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2014	Mar. 25, 2015	Jun. 30, 2014
Entity Registrant Name	SECURITY NATIONAL FINANCIAL CORP
Document Type	10-K
Document Period End Date	Dec. 31, 2014
Amendment Flag	false
Entity Central Index Key	0000318673
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Entity Public Float			$ 18,028,000
Class A Common Stock
Entity Common Stock, Shares Outstanding		12,460,013
Class C Common Stock
Entity Common Stock, Shares Outstanding		1,393,538

Balance Sheet - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Investments:
Fixed maturity securities, held to maturity, at amortized cost	$ 135,018,347	$ 143,466,494
Equity securities, available for sale, at estimated fair value	6,752,750	4,498,756
Mortgage loans on real estate and construction loans held for investment, net of allowances for loan losses of $2,003,055 and $1,652,090 for 2014 and 2013	120,050,072	102,781,878
Real estate held for investment, net of accumulated depreciation of $10,875,419 and $9,658,599 for 2014 and 2013	111,411,351	99,760,475
Policy and other loans, net of allowance for doubtful accounts of $693,413 and $269,175 for 2014 and 2013	34,125,428	19,724,006
Short-term investments	27,059,495	12,135,719
Accrued investment income	2,483,253	2,485,054
Total investments	436,900,696	384,852,382
Cash and cash equivalents	30,855,320	38,203,164
Mortgage loans sold to investors	67,534,400	77,179,652
Receivables, net	14,544,093	11,652,572
Restricted assets	9,347,797	6,670,980
Cemetery perpetual care trust investments	2,645,423	2,414,883
Receivable from reinsurers	12,036,263	12,033,877
Cemetery land and improvements	10,848,085	10,631,573
Deferred policy and pre-need contract acquisition costs	50,307,503	45,737,940
Mortgage servicing rights	7,834,747	4,844,101
Property and equipment, net	11,307,714	11,523,160
Value of business acquired	8,547,627	8,680,845
Goodwill	2,765,570	677,039
Other assets	5,594,324	3,655,286
Total Assets	671,069,562	618,757,454
Liabilities
Future life, annuity, and other benefits	476,727,465	452,130,649
Unearned premium reserve	4,961,937	5,173,785
Bank and other loans payable	29,020,378	18,289,438
Deferred pre-need cemetery and mortuary contract revenues	13,242,143	13,176,476
Cemetery perpetual care obligation	3,406,718	3,266,131
Accounts payable	1,789,387	2,850,575
Other liabilities and accrued expenses	24,408,666	20,167,363
Income taxes	20,421,767	15,951,848
Total liabilities	573,978,461	531,006,265
Commitments and Contingencies
Stockholders' Equity
Additional paid-in capital	25,931,119	23,215,875
Accumulated other comprehensive income, net of taxes	1,438,566	1,218,396
Retained earnings	44,101,252	39,666,587
Treasury stock, at cost - 986,264 Class A shares and -0- Class C shares in 2014; 1,141,021 Class A shares and -0- Class C shares in 2013	(2,086,454)	(2,624,625)
Total stockholders' equity	97,091,101	87,751,189
Total Liabilities and Stockholders' Equity	671,069,562	618,757,454
Class A Common Stock
Stockholders' Equity
Common stock	24,918,480	23,614,574
Class C Common Stock
Stockholders' Equity
Common stock	$ 2,788,138	$ 2,660,382

Balance Sheet Parenthetical - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Allowance for losses on mortgage loans on real estate and construction loans, held for investment	$ 2,003,055	$ 1,652,090
Accumulated depreciation on real estate held for investment	10,875,419	9,658,599
Allowance for doubtful accounts on policy and other loans	$ 693,413	$ 269,175
Class A Common Stock
Common Stock Par Value	$ 2.00	$ 2.00
Common Stock Authorized	20,000,000	20,000,000
Common Stock Issued	12,459,240	11,807,287
Treasury Stock	986,264	1,141,021
Class B Common Stock
Common Stock Par Value	$ 1.00	$ 1.00
Common Stock Authorized	5,000,000	5,000,000
Common Stock Issued
Common Stock Outstanding
Class C Common Stock
Common Stock Par Value	$ 2.00	$ 2.00
Common Stock Authorized	2,000,000	2,000,000
Common Stock Issued	1,394,069	1,330,191

Income Statement - USD ($)	12 Months Ended
Income Statement - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues:
Insurance premiums and other considerations	$ 53,008,679	$ 50,471,658	$ 48,216,327
Net investment income	28,303,740	20,354,002	21,915,577
Net mortuary and cemetery sales	11,426,308	12,000,375	10,864,497
Realized gains on investments and other assets	1,918,176	1,418,051	1,424,510
Other than temporary impairments	(164,240)	(336,226)	(1,207,632)
Mortgage fee income	128,696,998	128,800,930	151,887,838
Other income	3,747,013	2,606,230	1,159,052
Total revenues	226,936,674	215,315,020	234,260,169
Benefits and expenses:
Death benefits	27,100,278	26,048,325	22,277,037
Surrenders and other policy benefits	2,689,686	2,486,611	1,969,051
Increase in future policy benefits	18,060,151	19,594,890	21,435,191
Amortization of deferred policy and pre-need acquisition costs and value of business acquired	6,892,978	5,181,837	5,449,429
Selling, general and administrative expenses:
Commissions	59,876,675	65,979,564	83,840,427
Personnel	49,360,406	42,795,925	35,469,486
Advertising	4,584,436	4,837,714	4,050,187
Rent and rent related	6,135,876	5,457,988	4,503,285
Depreciation on property and equipment	2,177,165	1,621,069	1,258,097
Provision for loan losses and loss reserve	3,053,403	1,751,472	4,239,418
Costs related to funding mortgage loans	6,877,069	6,635,290	6,931,045
Other expenses	22,800,066	18,328,005	16,017,975
Interest expense	2,994,429	2,853,701	3,744,293
Cost of goods and services sold - mortuaries and cemeteries	1,853,103	1,918,902	1,723,955
Total benefits and expenses	214,455,721	205,491,293	212,908,876
Earnings before income taxes	12,480,953	9,823,727	21,351,293
Income tax expense	(4,726,305)	(2,237,806)	(4,638,775)
Net earnings	$ 7,754,648	$ 7,585,921	$ 16,712,518
Net earnings per Class A equivalent common share (1)	$ 0.62	$ 0.61	$ 1.46
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.60	$ 0.58	$ 1.39
Weighted average Class A equivalent common shares outstanding (1)	12,518,743	12,366,029	11,427,568
Weighted average Class A equivalent common shares outstanding-assuming dilution (1)	12,928,009	12,981,576	12,026,849

Comprehensive Income Statement - USD ($)	12 Months Ended
Comprehensive Income Statement - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Comprehensive Income Statement
Net earnings	$ 7,754,648	$ 7,585,921	$ 16,712,518
Changes in:
Net unrealized gains (losses) on derivative instruments	286,018	(1,020,754)	852,168
Net unrealized gains (losses) on available for sale securities	(65,848)	304,791	427,748
Other comprehensive gain (loss)	220,170	(715,963)	1,279,916
Comprehensive income	$ 7,974,818	$ 6,869,958	$ 17,992,434

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

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, 2011	$ 19,277,596	$ 2,027,195	$ 19,487,565	$ 654,443	$ 22,546,623	$ (2,762,835)	$ 61,230,587
Net earnings					16,712,518		16,712,518
Other comprehensive loss				1,279,916			1,279,916
Grant of stock options			251,031				251,031
Exercise stock options	1,371,506	63,782	(1,416,982)				18,306
Sale of treasury stock			(62,650)			382,401	319,751
Stock dividends	1,037,404	104,488	3,003,177		(4,145,069)
Conversion Class C to Class A	646	(645)	(1)
Balance at Dec. 31, 2012	21,687,152	2,194,820	21,262,140	1,934,359	35,114,072	(2,380,434)	79,812,109
Net earnings					7,585,921		7,585,921
Other comprehensive loss				(715,963)			(715,963)
Grant of stock options			88,369				88,369
Exercise stock options	719,572	422,422	(345,845)			(543,334)	252,815
Sale of treasury stock			428,794			299,143	727,937
Stock dividends	1,124,304	126,685	1,782,418		(3,033,406)		1
Conversion Class C to Class A	83,546	(83,545)	(1)
Balance at Dec. 31, 2013	23,614,574	$ 2,660,382	23,215,875	1,218,396	39,666,587	(2,624,625)	87,751,189
Net earnings					$ 7,754,648		7,754,648
Other comprehensive loss				220,170			220,170
Grant of stock options			391,220				391,220
Reverse stock split true up		30			(30)
Exercise stock options	108,824		(34,800)				74,024
Sale of treasury stock			361,679			538,171	899,850
Stock dividends	1,190,040	$ 132,767	1,997,147		$ (3,319,954)
Conversion Class C to Class A	5,042	(5,041)	(2)		1
Balance at Dec. 31, 2014	$ 24,918,480	$ 2,788,138	$ 25,931,119	$ 1,438,566	$ 44,101,252	$ (2,086,454)	$ 97,091,101

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Statement of Cash Flows - USD ($)	12 Months Ended
Statement of Cash Flows - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net earnings	$ 7,754,648	$ 7,585,921	$ 16,712,518
Adjustments to reconcile net earnings to net cash provided by operating activities:
Realized gains on investments and other assets	(1,918,176)	(1,418,051)	(1,424,510)
Other than temporary impairments	164,240	336,226	1,207,632
Depreciation and amortization	4,389,472	4,160,760	2,877,743
Provision for losses on real estate accounts and loans receivable	743,386	(584,873)	(963,169)
Amortization of premiums and discounts	238,687	103,032	(762,301)
Provision for deferred and other income taxes	3,072,642	416,269	953,394
Policy and pre-need acquisition costs deferred	(10,159,895)	(9,666,040)	(7,885,882)
Policy and pre-need acquisition costs amortized	5,590,332	3,841,565	4,234,271
Value of business acquired amortized	1,302,646	1,340,272	1,215,158
Servicing asset at amortized cost, additions	(3,741,381)	(2,494,254)	(2,797,470)
Amortization of mortgage servicing rights	750,735	447,623
Stock based compensation expense	391,220	88,369	251,031
Benefit plans funded with treasury stock	899,850	727,937	319,751
Change in assets and liabilities:
Land and improvements held for sale	(216,512)	(36,345)	26,054
Future life and other benefits	14,084,894	19,182,046	20,508,725
Receivables for mortgage loans sold	7,362,353	15,668,188	(18,807,956)
Other operating assets and liabilities	306,668	(3,046,791)	6,751,217
Net cash provided by operating activities	31,015,809	36,651,854	22,416,206
Securities held to maturity:
Purchase - fixed maturity securities	(3,449,187)	(22,849,622)	(11,365,269)
Calls and maturities - fixed maturity securities	11,850,864	8,518,848	9,601,320
Securities available for sale:
Purchase - equity securities	(5,996,993)	(2,807,367)	(1,685,983)
Sales - equity securities	3,851,664	4,528,862	3,028,509
Purchases of short-term investments	(18,587,022)	(19,827,619)	(51,823,941)
Sales of short-term investments	3,663,246	48,617,290	17,830,574
Sales (purchases) of restricted assets	(2,628,764)	2,777,715	(4,436,547)
Change in assets for perpetual care trusts	(230,921)	(255,204)	(265,435)
Amount received for perpetual care trusts	140,587	113,130	169,924
Mortgage, policy, and other loans made	(286,974,069)	(160,737,841)	(117,135,836)
Payments received for mortgage, policy, and other loans	267,763,998	133,260,148	131,565,100
Purchases of property and equipment	(1,520,443)	(3,570,334)	(3,022,393)
Disposal of property and equipment	894,805	33,900	30,524
Purchases of real estate held for investment	(19,317,567)	(26,749,586)	(143,278)
Sale of real estate held for investment	7,269,475	3,352,446	6,886,821
Cash received from reinsurance	13,553,864	2,466,175	34,485,224
Cash paid for purchase of subsidiaries, net of cash acquired	(15,011,193)		(180,591)
Net cash provided by (used in) investing activities	(44,727,656)	(33,129,059)	13,538,723
Cash flows from financing activities:
Annuity contract receipts	10,051,662	9,385,168	8,939,017
Annuity contract withdrawals	(14,519,563)	(14,866,251)	(13,915,777)
Proceeds from stock options exercised	74,024	252,815	18,306
Repayment of bank loans and notes and contracts payable	(2,357,468)	(2,292,037)	(1,534,612)
Proceeds from bank borrowings	13,115,348	13,314,594	241,875
Change in line of credit borrowings		(4,608,204)	(11,791,796)
Net cash provided by (used in) financing activities	6,364,003	1,186,085	(18,042,987)
Net change in cash and cash equivalents	(7,347,844)	4,708,880	17,911,942
Cash and cash equivalents at beginning of year	38,203,164	33,494,284	15,582,342
Cash and cash equivalents at end of year	30,855,320	38,203,164	33,494,284
Non Cash Investing and Financing Activities
Mortgage loans foreclosed into real estate	$ 981,820	$ 3,930,297	$ 17,019,870

Note 1: Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Notes

Note 1: Significant Accounting Policies

1) Significant Accounting Policies

General Overview of Business

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

Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The presentation of certain amounts in prior years has been reclassified to conform to the 2014 presentation.

Principles of Consolidation

These consolidated financial statements include the financial statements of the Company and its majority owned subsidiaries. All intercompany transactions and accounts have been eliminated in consolidation.

Investments

The Company’s management determines the appropriate classifications of investments in fixed maturity securities and equity securities at the acquisition date and re-evaluates the classifications at each balance sheet date.

Fixed maturity securities held to maturity are carried at cost, adjusted for amortization of premium or accretion of discount. Although the Company has the ability and intent to hold these investments to maturity, infrequent and unusual conditions could occur under which it would sell certain of these securities. Those conditions include unforeseen changes in asset quality, significant changes in tax laws, and changes in regulatory capital requirements or permissible investments.

Fixed maturity and equity securities available for sale are carried at estimated fair value. Changes in fair values net of income taxes are reported as unrealized appreciation or depreciation and recorded as an adjustment directly to stockholders’ equity and, accordingly, have no effect on net income.

Mortgage loans on real estate, and construction loans are carried at their unpaid principal balances adjusted for charge-offs, the related allowance for loan losses, and net deferred fees or costs on originated loans. The Company defers related material loan origination fees, net of related direct loan origination costs, and amortizes the net fees over the term of the loans.

Mortgage loans are collateral dependent and require an appraisal at the time of underwriting and funding. Generally the Company will fund a loan not to exceed 80% of the loan’s collateral fair market value. Amounts over 80% will require mortgage insurance by an approved third party insurer. Once a loan is deemed to be impaired the Company will review the market value of the collateral and provide an allowance for any impairment.

Mortgage loans sold to investors are carried at the amount due from third party investors, which is the estimated fair value at the balance sheet date since these amounts are generally collected within a short period of time.

Real estate held for investment is carried at cost, less accumulated depreciation provided on a straight line basis over the estimated useful lives of the properties, or is adjusted to a new basis for impairment in value, if any. Included are foreclosed properties which the Company intends to hold for investment purposes. These properties are recorded at the lower of cost or market value upon foreclosure.

Policy and other loans are carried at the aggregate unpaid balances, less allowances for possible losses.

Short-term investments are carried at cost and consist of certificates of deposit and commercial paper with maturities of up to one year.

Restricted assets are assets held in a trust account for future mortuary services and merchandise and consist of cash; participations in mortgage loans with Security National Life; mutual funds carried at cost; equity securities carried at fair market value; a surplus note with Security National Life. Restricted cash also represents escrows held for borrowers and investors under servicing and appraisal agreements relating to mortgage loans, funds held by warehouse banks in accordance with loan purchase agreements and funds held in escrow for the construction of a 282-unit multifamily development in Sandy City, Utah.

Cemetery and mortuary perpetual care trust business segment contains six wholly owned cemeteries. Of the six cemeteries owned by the Company, four cemeteries are endowment care properties. Under endowment care arrangements a portion of the price for each lot sold is withheld and invested in a portfolio of investments similar to those described in the prior paragraph. The earnings stream from the investments is designed to fund future maintenance and upkeep of the cemetery.

Realized gains and losses on investments arise when investments are sold (as determined on a specific identification basis) or are other-than-temporarily impaired. If in management’s judgment a decline in the value of an investment below cost is other-than-temporary, the cost of the investment is written down to fair value with a corresponding charge to earnings. Factors considered in judging whether an impairment is other-than-temporary include: the financial condition, business prospects and credit worthiness of the issuer, the length of time that fair value has been less than cost, the relative amount of the decline, and the Company’s ability and intent to hold the investment until the fair value recovers, which is not assured.

Cash and Cash Equivalents

For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents.

Cemetery Land and Improvements

The development of a cemetery involves not only the initial acquisition of raw land but the installation of roads, water lines, landscaping and other costs to establish a marketable cemetery lot. The costs of developing the cemetery are shown as an asset on the balance sheet. The amount on the balance sheet is reduced by the total cost assigned to the development of a particular lot when the criterion for recognizing a sale of that lot is met.

Property and Equipment

Property and equipment are recorded at cost. Depreciation is calculated principally on the straight-line method over the estimated useful lives of the assets which range from three to forty years. Leasehold improvements are amortized over the lesser of the useful life or remaining lease terms.

Recognition of Insurance Premiums and Other Considerations

Premiums and other consideration for traditional life insurance products (which include those products with fixed and guaranteed premiums and benefits and consist principally of whole life insurance policies, limited payment life insurance policies, and certain annuities with life contingencies) are recognized as revenues when due from policyholders. Premiums and other consideration for interest-sensitive insurance policies (which include universal life policies, interest-sensitive life policies, deferred annuities, and annuities without life contingencies) are recognized when earned and consist of amounts assessed against policyholder account balances during the period for policy administration charges and surrender charges.

Deferred Policy Acquisition Costs and Value of Business Acquired

Commissions and other costs, net of commission and expense allowances for reinsurance ceded, that vary with and are primarily related to the production of new insurance business have been deferred. Deferred policy acquisition costs (“DAC”) for traditional life insurance are amortized over the premium paying period of the related policies using assumptions consistent with those used in computing policy benefit reserves. For interest-sensitive insurance products, deferred policy acquisition costs are amortized generally in proportion to the present value of expected gross profits from surrender charges, investment, mortality and expense margins. This amortization is adjusted when estimates of current or future gross profits to be realized from a group of products are reevaluated. Deferred acquisition costs are written off when policies lapse or are surrendered.

The Company follows accounting principles generally accepted in the United States of America when accounting for DAC on internal replacements of insurance and investment contracts. An internal replacement is a modification in product benefits, features, rights or coverage that occurs by the exchange of a contract for a new contract, or by amendment, endorsement, or rider to contract, or by the election of a feature or coverage within a contract. Modifications that result in a replacement contract that is substantially changed from the replaced contract are accounted for as an extinguishment of the replaced contract. Unamortized DAC, unearned revenue liabilities and deferred sales inducements from the replaced contract are written-off. Modifications that result in a contract that is substantially unchanged from the replaced contract are accounted for as a continuation of the replaced contract.

Value of business acquired is the present value of estimated future profits of the acquired business and is amortized similar to deferred policy acquisition costs.

Mortgage Servicing Rights

Mortgage Service Rights (MSR) arise from contractual agreements between the Company and third-party investors (or their agents) when mortgage loans are sold. Under these contracts, the Company is obligated to retain and provide loan servicing functions on loans sold, in exchange for fees and other remuneration. The servicing functions typically performed include, among other responsibilities, collecting and remitting loan payments; responding to borrower inquiries; accounting for principal and interest, holding custodial (impound) funds for payment of property taxes and insurance premiums; counseling delinquent mortgagors; and supervising the acquisition of REO and property dispositions.

The total residential mortgage loans serviced for others consist primarily of agency conforming fixed-rate mortgage loans. The value of MSRs is derived from the net cash flows associated with the servicing contracts. The Company receives a servicing fee of generally about 0.250% annually on the remaining outstanding principal balances of the loans. Based on the result of the cash flow analysis, an asset or liability is recorded for mortgage servicing rights. The servicing fees are collected from the monthly payments made by the mortgagors. The Company generally receives other remuneration including rights to various mortgagor-contracted fees such as late charges, and collateral reconveyance charges and the Company is generally entitled to retain the interest earned on funds held pending remittance of mortgagor principal, interest, tax and insurance payments.

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

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

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

Derivatives

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

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

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

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

Allowance for Doubtful Accounts and Loan Losses and Impaired Loans

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

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

The Company provides allowances for losses on its mortgage loans held for investment through an allowance for loan losses. The allowance is comprised of two components. The first component is an allowance for collectively evaluated impairment that is based upon the Company’s historical experience in collecting similar receivables. The second component is based upon individual evaluation of loans that are determined to be impaired. Upon determining impairment the Company establishes an individual impairment allowance based upon an assessment of the fair value of the underlying collateral. See the schedules in Note 2 for additional information. In addition, when a mortgage loan is past due more than 90 days, the Company does not accrue any interest income. When a loan becomes delinquent, the Company proceeds to foreclose on the real estate and all expenses for foreclosure are expensed as incurred. Once foreclosed, an adjustment for the lower of cost or fair value is made, if necessary, and the amount is classified as other real estate owned held for investment or sale. The Company will rent the properties until it is deemed desirable to sell them.

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

Loan Loss Reserve

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

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

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

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

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

Additional information related to the Loan Loss Reserve is included in Note 2.

Future Life, Annuity and Other Policy Benefits

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

Future policy benefit reserves for interest-sensitive insurance products are computed under a retrospective deposit method and represent policy account balances before applicable surrender charges. Policy benefits and claims that are charged to expense include benefit claims incurred in the period in excess of related policy account balances. Interest crediting rates for interest-sensitive insurance products ranged from 3% to 6.5%.

Participating Insurance

Participating business constituted 2%, 2%, and 2% of insurance in force for 2014, 2013 and 2012, respectively. The provision for policyholders’ dividends included in policyholder obligations is based on dividend scales anticipated by management. Amounts to be paid are determined by the Board of Directors.

Reinsurance

The Company follows the procedure of reinsuring risks in excess of $100,000 to provide for greater diversification of business to allow management to control exposure to potential losses arising from large risks, and provide additional capacity for growth. The Company remains liable for amounts ceded in the event the reinsurers are unable to meet their obligations.

The Company entered into coinsurance agreements with unaffiliated insurance companies under which the Company assumed 100% of the risk for certain life insurance policies and certain other policy-related liabilities of the insurance company.

Reinsurance premiums, commissions, expense reimbursements, and reserves related to reinsured business are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Expense allowances received in connection with reinsurance ceded are accounted for as a reduction of the related policy acquisition costs and are deferred and amortized accordingly.

Pre-need Sales and Costs

Pre-need contract sales of funeral services and caskets - revenue and costs associated with the sales of pre-need funeral services and caskets are deferred until the services are performed or the caskets are delivered.

Sales of cemetery interment rights (cemetery burial property) - revenue and costs associated with the sale of cemetery interment rights are recognized in accordance with the retail land sales provisions based on accounting principles generally accepted in the United States of America. Under accounting principles generally accepted in the United States of America, recognition of revenue and associated costs from constructed cemetery property must be deferred until a minimum percentage of the sales price has been collected.

Pre-need contract sales of cemetery merchandise (primarily markers and vaults) - revenue and costs associated with the sale of pre-need cemetery merchandise is deferred until the merchandise is delivered. Pre-need contract sales of cemetery services (primarily merchandise delivery, installation fees and burial opening and closing fees) - revenue and costs associated with the sales of pre-need cemetery services are deferred until the services are performed.

Prearranged funeral and pre-need cemetery customer acquisition costs - costs incurred related to obtaining new pre-need contract cemetery and prearranged funeral services are accounted for under the guidance of the provisions based on accounting principles generally accepted in the United States of America. Obtaining costs, which include only costs that vary with and are primarily related to the acquisition of new pre-need cemetery and prearranged funeral services, are deferred until the merchandise is delivered or services are performed.

Revenues and costs for at need sales are recorded when a valid contract exists, the services are performed, collection is reasonably assured and there are no significant obligations remaining.

The Company, through its cemetery and mortuary operations, provides guaranteed funeral arrangements wherein a prospective customer can receive future goods and services at guaranteed prices. To accomplish this, the Company, through its life insurance operations, sells to the customer an increasing benefit life insurance policy that is assigned to the mortuaries. If, at the time of need, the policyholder/potential mortuary customer utilizes one of the Company’s facilities, the guaranteed funeral arrangement contract that has been assigned will provide the funeral goods and services at the contracted price. The increasing life insurance policy will cover the difference between the original contract prices and current prices. Risks may arise if the difference cannot be fully met by the life insurance policy. However, management believes that given current inflation rates and related price increases of goods and services, the risk of exposure is minimal.

Mortgage Fee Income

Mortgage fee income consists of origination fees, processing fees and certain other income related to the origination and sale of mortgage loans. For mortgage loans sold to third party investors, mortgage fee income and related expenses are recognized pursuant to generally accepted accounting principles at the time the sales of mortgage loans comply with the sales criteria for the transfer of financial assets, which are: (i) the transferred assets have been isolated from the Company and its creditors, (ii) the transferee has the right to pledge or exchange the mortgage, and (iii) the Company does not maintain effective control over the transferred mortgage. The Company must determine that all three criteria are met at the time a loan is funded. All rights and title to the mortgage loans are assigned to unrelated financial institution investors, including investor commitments for the loans, prior to warehouse banks purchasing the loans under the purchase commitments.

The Company, through its mortgage subsidiaries, sells all mortgage loans to third party investors without recourse. However, it may be required to repurchase a loan or pay a fee instead of repurchase under certain events, which include the following:

· Failure to deliver original documents specified by the investor,

· The existence of misrepresentation or fraud in the origination of the loan,

· The loan becomes delinquent due to nonpayment during the first several months after it is sold,

· Early pay-off of a loan, as defined by the agreements,

· Excessive time to settle a loan,

· Investor declines purchase, and

· Discontinued product and expired commitment.

Loan purchase commitments generally specify a date 30 to 45 days after delivery upon which the underlying loans should be settled. Depending on market conditions, these commitment settlement dates can be extended at a cost to the Company. Generally, a ten day extension will cost .125% (12.5 basis points) of the loan amount. The Company’s historical data shows that 99% of all loans originated by its mortgage subsidiaries are generally settled by the investors as agreed within 16 days after delivery. There are situations, however, when the Company determines that it is unable to enforce the settlement of loans rejected by the third-party investors and that it is in its best interest to repurchase those loans from the warehouse banks.

It is the Company's policy to cure any documentation problems regarding such loans at a minimal cost for up to a six-month time period and to pursue efforts to enforce loan purchase commitments from third-party investors concerning the loans. The Company believes that six months allows adequate time to remedy any documentation issues, to enforce purchase commitments, and to exhaust other alternatives. Remedial methods include the following:

· Research reasons for rejection,

· Provide additional documents,

· Request investor exceptions,

· Appeal rejection decision to purchase committee, and

· Commit to secondary investors.

Once purchase commitments have expired and other alternatives to remedy are exhausted, which could be earlier than the six month time period, the loans are repurchased and transferred to the long term investment portfolio at the lower of cost or fair value and previously recorded sales revenue is reversed. Any loan that later becomes delinquent is evaluated by the Company at that time and any impairment is adjusted accordingly.

Determining Lower of Cost or Market

Cost is equal to the amount paid to the warehouse bank and the amount originally funded by the Company. Market value is often difficult to determine, but is based on the following:

· For loans that have an active market the Company uses the market price on the repurchased date.

· For loans where there is no market but there is a similar product, the Company uses the market value for the similar product on the repurchased date.

· For loans where no active market exists on the repurchased date, the Company determines that the unpaid principal balance best approximates the market value on the repurchased date, after considering the fair value of the underlying real estate collateral and estimated future cash flows.

The appraised value of the real estate underlying the original mortgage loan adds support to the Company’s determination of fair value because if the loan becomes delinquent, the Company has sufficient value to collect the unpaid principal balance or the carrying value of the loan. In determining the market value on the date of repurchase, the Company considers the total value of all of the loans because any sale of loans would be made as a pool.

For mortgages originated and held for investment, mortgage fee income and related expenses are recognized when the loan is originated.

The Company provides an allowance for loan losses on its mortgage loans held for investment. The allowance is comprised of two components. The first component is an allowance for collectively evaluated impairment that is based upon the Company’s historical experience in collecting similar receivables. The second component is based upon individual evaluation of loans that are determined to be impaired.

Commercial Loans

Each quarter, management reviews the current commercial loans and determines if an allowance is required based on the Company’s actual experience of losses on impaired commercial loans. To date, the Company has not incurred any significant losses. The carrying value of all commercial loans is supported by appraisals and cash flow analysis of revenue received. Also, the Company has not accrued any interest income or capitalized any of the foreclosure costs on the impaired commercial loans.

Residential and Construction Loans

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

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

Each quarter the Company also analyzes its current loan portfolio and determines the level of allowance needed for loans that are listed as current in the portfolio. The basis of the analysis places a higher weight on loans with high loan to value ratios, those that lack mortgage insurance, and certain loan types that have a higher percentage of default based on the Company’s experience.

Each quarter the Company makes further analysis of the foreclosed properties to determine if any additional allowances are necessary by comparing national indexes of loan to value ratios by region to the Company’s loan to value ratios. Based upon the above procedures, the Company’s management believes that residential and residential construction loans are reflected in the Company’s financial statements at the lower of cost or market in accordance with GAAP requirements.

Goodwill

Previous acquisitions have been accounted for as purchases under which assets acquired and liabilities assumed were recorded at their fair values with the excess purchase price recognized as goodwill. The Company evaluates annually or when changes in circumstances warrant the recoverability of goodwill and if there is a decrease in value, the related impairment is recognized as a charge against income. No impairment of goodwill has been recognized in the accompanying financial statements.

Long-lived Assets

Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the related carrying amount may not be recoverable. When required, impairment losses on assets to be held and used are recognized based on the fair value of the asset, and long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less costs to sell. No impairment of long-lived assets has been recognized in the accompanying financial statements.

Income Taxes

Income taxes include taxes currently payable plus deferred taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to the temporary differences in the financial reporting basis and tax basis of assets and liabilities and operating loss carry-forwards. Deferred tax assets are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled.

Liabilities are established for uncertain tax positions expected to be taken in income tax returns when such positions are judged to meet the “more-likely-than-not” threshold based on the technical merits of the positions. Estimated interest and penalties related to uncertain tax penalties are included as a component of other expenses.

Earnings Per Common Share

The Company computes earnings per share in accordance with accounting principles generally accepted in the United States of America which requires presentation of basic and diluted earnings per share. Basic earnings per equivalent Class A common share are computed by dividing net earnings by the weighted-average number of Class A common shares outstanding during each year presented, after the effect of the assumed conversion of Class C common stock to Class A common stock. Diluted earnings per share is computed by dividing net earnings by the weighted-average number of common shares outstanding during the year used to compute basic earnings per share plus dilutive potential incremental shares. Basic and diluted earnings per share amounts have been adjusted retroactively for the effect of annual stock dividends.

Stock Based Compensation

The cost of employee services received in exchange for an award of equity instruments is recognized in the financial statements and is measured based on the fair value on the grant date of the award. The fair value of stock options is calculated using the Black Scholes method. Stock option compensation expense is recognized over the period during which an employee is required to provide service in exchange for the award.

Concentration of Credit Risk

The Company maintains its cash in bank deposit accounts, which at times exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents.

Advertising

The Company expenses advertising costs as incurred.

Recent Accounting Pronouncements

Accounting Standards Update (“ASU”) No. 2014-17: “Business Combinations (Topic 805) – Pushdown Accounting” – Issued in November 2014, ASU 2014-17 provides guidance for determining whether and at what threshold an acquiree (acquired entity) that is a business or nonprofit activity can reflect the acquirer’s accounting and reporting basis (pushdown accounting) in its separate financial statements. The amendments in this Update provide that an acquired entity may elect to apply pushdown accounting in its separate financial statements upon a change-in-control event in which an acquirer obtains control of the acquired entity. The amendments in this Update are effective November 18, 2014. This new guidance did not have a significant impact on the Company’s results of operations or financial position.

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

ASU No. 2014-09: “Revenue from Contracts with Customers (Topic 606)” - Issued in May 2014, ASU 2014-09 supersedes the revenue recognition requirements in ASC Topic 605, “Revenue Recognition”, and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Insurance contracts are excluded from the scope of this new guidance. The new authoritative guidance is effective for interim and annual periods beginning after December 15, 2016. The Company is in the process of evaluating the potential impact of this standard, which is not expected to be material to the Company’s results of operations or financial position.

ASU No. 2014-14: “Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40)” - In January 2014, ASU No. 2014-14 amended ASC Topic 310, "Receivables" to reduce diversity by clarifying when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The new authoritative guidance is effective for interim and annual periods beginning after December 15, 2014 and will not have a significant impact on the Company’s results of operations or financial position.

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

Note 2: Investments

12 Months Ended

Dec. 31, 2014

Notes

Note 2: Investments

2) Investments

The Company’s investments in fixed maturity securities held to maturity and equity securities available for sale as of December 31, 2014 are summarized as follows:

	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
December 31, 2014:
Fixed maturity securities held to maturity carried at amortized cost:
U.S. Treasury securities and obligations of U.S. Government agencies	$ 1,873,146	$ 345,715	$ -	$ 2,218,861

Obligations of states and political subdivisions	1,736,489	221,893	(5,278)	1,953,104

Corporate securities including public utilities	126,533,483	15,841,536	(980,357)	141,394,662

Mortgage-backed securities	4,263,206	305,381	(11,894)	4,556,693

Redeemable preferred stock	612,023	22,032	-	634,055

Total fixed maturity securities held to maturity	$ 135,018,347	$ 16,736,557	$ (997,529)	$ 150,757,375

	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
December 31, 2014:

Equity securities available for sale at estimated fair value:

Common stock:

Industrial, miscellaneous and all other	$ 7,179,010	$ 393,873	$ (820,133)	$ 6,752,750

Total securities available for sale carried at estimated fair value	$ 7,179,010	$ 393,873	$ (820,133)	$ 6,752,750

Mortgage loans on real estate and construction loans held for investment at amortized cost:
Residential	$ 53,592,433
Residential construction	33,071,938
Commercial	35,388,756
Less: Allowance for loan losses	(2,003,055)

Total mortgage loans on real estate and construction loans held for investment	$ 120,050,072

Real estate held for investment - net of depreciation	$ 111,411,351

Policy and other loans at amortized cost:
Policy loans	$ 7,011,012
Other loans	27,807,829
Less: Allowance for doubtful accounts	(693,413)

Total policy and other loans at amortized cost	$ 34,125,428

Short-term investments at amortized cost	$ 27,059,495

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

	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
December 31, 2013:
Fixed maturity securities held to maturity carried at amortized cost:
U.S. Treasury securities and obligations of U.S. Government agencies	$ 2,284,261	$ 298,901	$ -	$ 2,583,162

Obligations of states and political subdivisions	1,790,661	197,340	(9,404)	1,978,597

Corporate securities including public utilities	134,257,468	10,513,448	(1,394,919)	143,375,997

Mortgage-backed securities	4,522,081	206,617	(11,351)	4,717,347

Redeemable preferred stock	612,023	12,994	(5,900)	619,117

Total fixed maturity securities held to maturity	$ 143,466,494	$ 11,229,300	$ (1,421,574)	$ 153,274,220

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

Equity securities available for sale at estimated fair value:

Common stock:

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

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

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

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

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

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

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

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

Fixed Maturity Securities

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

	Unrealized Losses for Less than Twelve Months	No. of Investment Positions	Unrealized Losses for More than Twelve Months	No. of Investment Positions	Total Unrealized Loss
At December 31, 2014
Redeemable Preferred Stock	$ -	0	$ -	0	$ -
Obligations of States and
Political Subdivisions	-	0	5,278	1	5,278
Corporate Securities	548,310	21	432,047	11	980,357
Mortgage and other
asset-backed securities	3,966	1	7,928	0	11,894
Total unrealized losses	$ 552,276	22	$ 445,253	12	$ 997,529
Fair Value	$ 7,081,352		$2,777,587		$9,858,939

At December 31, 2013
Redeemable Preferred Stock	$ 5,900	1	$ -	0	$ 5,900
Obligations of States and
Political Subdivisions	7,131	1	2,273	1	9,404
Corporate Securities	1,134,415	72	260,504	10	1,394,919
Mortgage and other
asset-backed securities	3,109	1	8,242	1	11,351
Total unrealized losses	$ 1,150,555	75	$ 271,019	12	$1,421,574
Fair Value	$22,002,277		$2,308,464		$24,310,741

As of December 31, 2014, the average market value of the related fixed maturities was 90.8% of amortized cost and the average market value was 94.5% of amortized cost as of December 31, 2013. During 2014, 2013 and 2012, an other than temporary decline in market value resulted in the recognition of credit losses on fixed maturity securities of $120,000, $120,000 and $165,000, respectively.

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

Equity Securities

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

	Unrealized Losses for Less than Twelve Months	No. of Investment Positions	Unrealized Losses for More than Twelve Months	No. of Investment Positions	Total Unrealized Losses
At December 31, 2014
Industrial, miscellaneous and all other	$ 327,389	138	$ 492,744	27	$ 820,133
Total unrealized losses	$ 327,389	138	$ 492,744	27	$ 820,133
Fair Value	$2,162,425		$ 676,706		$2,839,131

At December 31, 2013
Industrial, miscellaneous and all other	$ 119,449	28	$ 405,936	28	$ 525,386
Total unrealized losses	$ 119,449	28	$ 405,936	28	$ 525,386
Fair Value	$ 993,612		$ 772,345		$1,765,957

As of December 31, 2014, the average market value of the equity securities available for sale was 77.6% of the original investment and the average market value was 77.1% of the original investment as of December 31, 2013. The intent of the Company is to retain equity securities for a period of time sufficient to allow for the recovery in fair value. However, the Company may sell equity securities during a period in which the fair value has declined below the amount of the original investment. In certain situations, new factors, including changes in the business environment, can change the Company’s previous intent to continue holding a security. During 2014, 2013, and 2012, an other than temporary decline in the market value resulted in the recognition of an impairment loss on equity securities of $44,240, $100,304, and $247,317, respectively.

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

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

The amortized cost and estimated fair value of fixed maturity securities at December 31, 2014, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized	Estimated Fair
	Cost	Value
Held to Maturity:
Due in 2015	$ 4,961,596	$ 5,075,769
Due in 2016 through 2019	33,920,182	37,561,840
Due in 2020 through 2024	25,074,149	27,690,447
Due after 2024	66,187,191	75,238,571
Mortgage-backed securities	4,263,206	4,556,693
Redeemable preferred stock	612,023	634,055
Total held to maturity	$ 135,018,347	$ 150,757,375

The cost and estimated fair value of available for sale securities at December 31, 2014, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Equities are valued using the specific identification method.

		Estimated Fair
	Cost	Value
Available for Sale:
Common stock	$ 7,179,010	$ 6,752,750
Total available for sale	$ 7,179,010	$ 6,752,750

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

	2014	2013	2012
Fixed maturity securities held
to maturity:
Gross realized gains	$ 390,203	$ 97,238	$ 470,874
Gross realized losses	(71,800)	(41,164)	(3,875)
Other than temporary impairments	(120,000)	(120,000)	(165,000)

Securities available for sale:
Gross realized gains	349,207	540,990	392,033
Gross realized losses	(55,222)	(2,678)	(5,705)
Other than temporary impairments	(44,240)	(100,304)	(247,317)

Other assets:
Gross realized gains	1,445,596	824,203	794,346
Gross realized losses	(139,808)	(538)	(223,163)
Other than temporary impairments	-	(115,922)	(795,315)
Total	$ 1,753,936	$ 1,081,825	$ 216,878

The net carrying amount for sales of securities classified as held to maturity was $2,840,709, $1,455,835 and $2,174,300, for the years ended December 31, 2014, 2013 and 2012, respectively. The net realized gain related to these sales was $20,722, $12,533 and $271,364, for the years ended December 31, 2014, 2013 and 2012, respectively. Certain circumstances lead to these decisions to sell.

There were no investments, aggregated by issuer, in excess of 10% of shareholders’ equity (before net unrealized gains and losses on available-for-sale securities) at December 31, 2014, other than investments issued or guaranteed by the United States Government.

Major categories of net investment income are as follows:

	2014	2013	2012
Fixed maturity securities	$ 8,229,451	$ 8,265,949	$ 7,731,051
Equity securities	212,917	210,491	264,063
Mortgage loans on real estate	7,550,110	4,666,910	5,543,777
Real estate	8,433,895	6,658,185	4,927,128
Policy, student and other loans	741,220	799,703	830,683
Short-term investments, principally gains on sale of mortgage loans	12,397,382	8,952,584	8,716,257
Gross investment income	37,564,975	29,553,822	28,012,959
Investment expenses	(9,261,235)	(9,199,820)	(6,097,382)
Net investment income	$ 28,303,740	$ 20,354,002	$ 21,915,577

Net investment income includes net investment income earned by the restricted assets of the cemeteries and mortuaries of $356,369, $341,430 and $352,488 for 2014, 2013 and 2012, respectively.

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

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

Securities on deposit for regulatory authorities as required by law amounted to $8,886,001 at December 31, 2014 and $9,215,222 at December 31, 2013. The restricted securities are included in various assets under investments on the accompanying consolidated balance sheets.

Mortgage Loans

Mortgage loans consist of first and second mortgages. The mortgage loans bear interest at rates ranging from 2.0 % to 10.5%, maturity dates range from three months to 30 years and are secured by real estate. Concentrations of credit risk arise when a number of mortgage loan debtors have similar economic characteristics that would cause their ability to meet contractual obligations to be similarly affected by changes in economic conditions. Although the Company has a diversified mortgage loan portfolio consisting of residential mortgages, commercial loans and residential construction loans and requires collateral on all real estate exposures, a substantial portion of its debtors’ ability to honor obligations is reliant on the economic stability of the geographic region in which the debtors do business. At December 31, 2014, the Company has 44%, 17%, 13% and 8% of its mortgage loans from borrowers located in the states of Utah, California, Texas and Florida, respectively. The mortgage loans on real estate balances on the consolidated balance sheet are reflected net of an allowance for loan losses of $2,003,055 and $1,652,090 at December 31, 2014 and 2013, respectively.

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

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

Allowance for Credit Losses and Recorded Investment in Mortgage Loans
For the Years Ended December 31, 2014, and 2013

	Commercial	Residential	Residential Construction	Total
2014
Allowance for credit losses:
Beginning balance	$ 187,129	$ 1,364,847	$ 100,114	$ 1,652,090
Charge-offs	-	(38,444)	-	(38,444)
Provision	-	389,409	-	389,409
Ending balance	$ 187,129	$ 1,715,812	$ 100,114	$ 2,003,055

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

Ending balance: collectively evaluated for impairment	$ 187,129	$ 1,562,366	$ 100,114	$ 1,849,609

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

Mortgage loans:
Ending balance	$ 35,388,756	$ 53,592,433	$ 33,071,938	$ 122,053,127

Ending balance: individually evaluated for impairment	$ -	$ 1,556,182	$ 414,499	$ 1,970,681

Ending balance: collectively evaluated for impairment	$ 35,388,756	$ 52,036,251	$ 32,657,439	$ 120,082,446

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

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

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

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

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

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

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

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

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

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

Age Analysis of Past Due Mortgage Loans
Years Ended December 31, 2014 and 2013

	30-59 Days Past Due	60-89 Days Past Due	Greater Than 90 Days 1)	In Foreclosure 1)	Total Past Due	Current	Total Mortgage Loans	Allowance for Loan Losses	Net Mortgage Loans
2014
Commercial	$ -	$ -	$ -	$ -	$ -	$ 35,388,756	$ 35,388,756	$ (187,129)	$ 35,201,627
Residential	1,631,142	1,174,516	5,464,901	1,556,182	9,826,741	43,765,692	53,592,433	(1,715,812)	51,876,621
Residential Construction	-	-	64,895	414,499	479,394	32,592,544	33,071,938	(100,114)	32,971,824

Total	$ 1,631,142	$ 1,174,516	$ 5,529,796	$ 1,970,681	$ 10,306,135	$ 111,746,992	$ 122,053,127	$ (2,003,055)	$ 120,050,072

2013
Commercial	$ -	$ -	$ -	$ 4,973,745	$ 4,973,745	$ 36,679,264	$ 41,653,009	$ (187,129)	$ 41,465,880
Residential	1,646,953	1,604,847	5,867,501	1,518,327	10,637,628	39,230,858	49,868,486	(1,364,847)	48,503,639
Residential Construction	-	-	64,895	-	64,895	12,847,578	12,912,473	(100,114)	12,812,359

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

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

Impaired Mortgage Loans

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

Impaired Loans
For the Years Ended December 31, 2014, and 2013

	Recorded Investment	Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
2014
With no related allowance recorded:
Commercial	$ -	$ -	$ -	$ -	$ -
Residential	-	-	-	-	-
Residential construction	414,499	414,499	-	414,499	-

With an allowance recorded:
Commercial	$ -	$ -	$ -	$ -	$ -
Residential	1,556,182	1,556,182	153,446	1,556,182	-
Residential construction	-	-	-	-	-

Total:
Commercial	$ -	$ -	$ -	$ -	$ -
Residential	1,556,182	1,556,182	153,446	1,556,182	-
Residential construction	414,499	414,499	-	414,499	-

2013
With no related allowance recorded:
Commercial	$ -	$ -	$ -	$ -	$ -
Residential	-	-	-	-	-
Residential construction	-	-	-	-	-

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

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

Credit Risk Profile Based on Performance Status

The Company’s mortgage loan portfolio is monitored based on performance of the loans. Monitoring a mortgage loan increases when the loan is delinquent or earlier if there is an indication of impairment. The Company defines non-performing mortgage loans as loans 90 days 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
As of December 31, 2014, and 2013

	Commercial		Residential		Residential Construction		Total
	2014	2013	2014	2013	2014	2013	2014	2013

Performing	$ 35,388,756	$ 36,679,264	$ 46,571,350	$ 42,482,658	$ 32,592,544	$ 12,847,578	$ 114,552,650	$ 92,009,500
Non-performing	-	4,973,745	7,021,083	7,385,828	479,394	64,895	7,500,477	12,424,468

Total	$ 35,388,756	$ 41,653,009	$ 53,592,433	$ 49,868,486	$ 33,071,938	$ 12,912,473	$ 122,053,127	$ 104,433,968

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 $535,000 and $678,000 as of December 31, 2014 and 2013, respectively.

The following is a summary of mortgage loans on a non-accrual status for the periods presented.

	Mortgage Loans on Non-accrual Status
	As of December 31, 2014, and 2013

	2014	2013
Commercial	$ -	$ 4,973,745
Residential	7,021,083	7,385,828
Residential construction	479,394	64,895
Total	$ 7,500,477	$ 12,424,468

Principal Amounts Due

The amortized cost and contractual payments on mortgage loans on real estate and construction loans held for investment by category as of December 31, 2014 are shown below. Expected principal payments may differ from contractual obligations because certain borrowers may elect to pay off mortgage obligations with or without early payment penalties.

		Principal	Principal	Principal
		Amounts	Amounts	Amounts
		Due in	Due in	Due
	Total	2015	2016-2019	Thereafter
Residential	$ 53,592,433	$ 3,748,893	$ 17,225,255	$ 32,618,285
Residential Construction	33,071,938	32,648,470	423,468	-
Commercial	35,388,756	18,652,738	13,279,688	3,456,330
Total	$ 122,053,127	$ 55,050,101	$ 30,928,411	$ 36,074,615

Loan Loss Reserve

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

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

	Years Ended December 31
	2014	2013
Balance, beginning of period	$ 5,506,532	$ 6,035,295
Provisions for losses	3,053,403	1,846,285
Charge-offs and settlements	(6,841,785)	(2,375,048)
Balance, at December 31	$ 1,718,150	$ 5,506,532

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.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

Note 3: Receivables

12 Months Ended

Dec. 31, 2014

Notes

Note 3: Receivables

3) Receivables

Receivables consist of the following:

	Years Ended December 31
	2014	2013
Trade contracts	$ 12,166,838	$ 9,993,755
Receivables from sales agents	1,951,677	994,056
Held in Escrow – Southern Security	278,331	312,167
Other	1,428,106	1,601,227
Total receivables	15,824,952	12,901,205
Allowance for doubtful accounts	(1,280,859)	(1,248,633)
Net receivables	$ 14,544,093	$ 11,652,572

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Note 4: Value of Business Acquired

12 Months Ended

Dec. 31, 2014

Notes

Note 4: Value of Business Acquired

4) Value of Business Acquired

Information with regard to value of business acquired is as follows:

	December 31
	2014	2013	2012
Balance at beginning of year	$ 8,680,845	$ 9,829,082	$ 10,996,050
Value of business acquired	1,169,428	192,035	48,190
Imputed interest at 7%	591,412	647,848	728,880
Amortization	(1,894,058)	(1,988,120)	(1,944,038)
Net amortization charged to income	(1,302,646)	(1,340,272)	(1,215,158)
Balance at end of year	$ 8,547,627	$ 8,680,845	$ 9,829,082

Presuming no additional acquisitions, net amortization charged to income is expected to approximate $1,113,000 $1,031,000, $958,000, $852,000, and $790,000 for the years 2015 through 2019. Actual amortization may vary based on changes in assumptions or experience. As of December 31, 2014, value of business acquired is being amortized over a weighted average life of 6.6 years.

Note 5: Property and Equipment

12 Months Ended

Dec. 31, 2014

Notes

Note 5: Property and Equipment

5) Property and Equipment

The cost of property and equipment is summarized below:

	December 31
	2014	2013
Land and buildings	$ 11,904,100	$ 12,482,082
Furniture and equipment	15,822,957	14,301,713
	27,727,057	26,783,795
Less accumulated depreciation	(16,419,343)	(15,260,635)
Total	$ 11,307,714	$ 11,523,160

Depreciation expense for the years ended December 31, 2014, 2013 and 2012 was $2,177,165, $1,621,069 and $1,258,097 respectively.

Note 6: Bank and Other Loans Payable

12 Months Ended

Dec. 31, 2014

Notes

Note 6: Bank and Other Loans Payable

6) Bank and Other Loans Payable

Bank loans payable are summarized as follows:

	December 31
	2014	2013
6.34% note payable in monthly installments of $13,556 including principal and interest, collateralized by real property with a book value of approximately $498,000, due November 2017.	$ 466,937	$ 612,068

5.75% note payable in monthly installments of $28,271 including principal and interest, collateralized by real property with a book value of approximately $5,890,000 due March 2015.	3,398,099	3,509,944

Mark to market of interest rate swaps (discussed below) adjustment	31,370	58,310

3.85% note payable in monthly installments of $79,468 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due June 2015.	461,889	1,377,925

3.85% note payable in monthly installments of $86,059 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due December 2017.	2,994,999	3,891,926

4.40% note payable in monthly installments of $46,825 including principal and interest, collateralized by real property with a book value of approximately $12,450,000 due January 2026.	8,333,550	8,500,000

2.75% above the 90-day LIBOR rate (3.0052% at December 31, 2014) construction and term loan payable, collateralized by real property with a book value of approximately $22,855,000 due July 2017.	13,085,189	-

Other collateralized bank loans payable	247,384	338,304
Other notes payable	961	961
Total bank and other loans	29,020,378	18,289,438

Less current installments	5,248,043	5,849,926
Bank and other loans, excluding current installments	$ 23,772,335	$ 12,439,512

During 2001, the Company entered into an interest rate swap instrument that effectively fixed the interest rate on the note payable at 6.34% per annum. Management considers the interest rate swap instrument an effective cash flow hedge against the variable interest rate on the bank note since the interest rate swap mirrors the term of the note payable and expires on the maturity date of the bank loan it hedges. The interest rate swap is a derivative financial instrument carried at its fair value.

In the event the swap is terminated, any resulting gain or loss would be deferred and amortized to interest expense over the remaining life of the bank loan it hedged. In the event of early extinguishment of the hedged bank loan, any realized or unrealized gain or loss from the hedging swap would be recognized in income coincident with the extinguishment. At December 31, 2014 and 2013, the fair value of the interest rate swap was an unrealized loss of $31,370 and $58,310, respectively, and was computed based on the underlying variable Libor rate plus 1.65%, or 2.65% per annum. The unrealized loss resulted in a derivative liability of $31,370 and $58,310 and has been reflected in accumulated other comprehensive income. The change in accumulated other comprehensive income from the interest rate swap in 2014 and 2013 was $26,940 and $32,262, respectively. The fair value of the interest rate swap was derived from a proprietary model of the bank from whom the interest rate swap was purchased and to whom the note is payable.

The Company has a $2,000,000 revolving line-of-credit with a bank with interest payable at the prime rate minus .75% (2.50% at December 31, 2014), secured by the capital stock of Security National Life and maturing June 30, 2015, renewable annually. At December 31, 2014, the Company was contingently liable under a standby letter of credit aggregating $699,671, to be used as collateral to cover any contingency related to additional risk assessments pertaining to the Company's captive insurance program. The Company does not expect any material losses to result from the issuance of the standby letter of credit because claims are not expected to exceed premiums paid. As of December 31, 2014, there were no amounts outstanding under the revolving line-of-credit.

The Company has a $15,000,000 revolving line-of-credit with a bank with interest payable at the variable overnight Libor rate plus 2% (2.1146% at December 31, 2014), secured by bond investments of the Company and maturing June 30, 2015. At December 31, 2014, the Company was contingently liable under two standby letters of credit aggregating $139,220, issued as security deposits to guarantee payment of final bills for electric and gas utility services for a commercial real estate property owned by the Company in Wichita, Kansas. As of December 31, 2014, there were no amounts outstanding under the revolving line-of-credit.

The Company has a $2,150,000 revolving line-of-credit with a bank with interest payable at the prime rate plus 1.25% (4.50% at December 31, 2014), secured by the capital stock of Security National Life and maturing June 30, 2015. At December 31, 2014, SecurityNational Mortgage was contingently liable under a standby letter of credit aggregating $1,250,000, to be used as collateral to cover any contingency relating to claims filed in states where SecurityNational Mortgage is licensed. The Company does not expect any material losses to result from the issuance of the standby letter of credit. As of December 31, 2014, there were no amounts outstanding under the revolving line-of-credit.

The Company has entered into a Construction and Term Loan Agreement (“Agreement”) between Zions First National Bank, a national banking association, and Dry Creek Property Development, Inc., the Company’s wholly owned subsidiary. Under the terms of this Agreement the Company promises to pay Zions First National Bank the principal sum of $27,500,000 plus interest. These funds will be used for the construction of a 282-unit multifamily development in Sandy City, Utah. As of December 31, 2014, the amount outstanding under this agreement was $13,085,189.

The following tabulation shows the combined maturities of bank loans payable, lines of credit and notes and contracts payable:

2015	$ 5,248,043
2016	1,395,942
2017	14,586,183
2018	246,769
2019	246,336
Thereafter	7,297,105
Total	$ 29,020,378

Interest paid approximated interest expense in 2014, 2013 and 2012, which was $2,994,429, $2,853,701 and $3,744,293, respectively.

Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds

12 Months Ended

Dec. 31, 2014

Notes

Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds

7) Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds

The Company is required by state law to pay into perpetual care trusts a portion of the proceeds from the sale of cemetery property interment rights. The related cemetery perpetual care trusts are defined as variable interest entities pursuant to generally accepted accounting principles. Also, management has determined that the Company is the primary beneficiary of these trusts, as it absorbs both a majority of the losses and returns associated with the trusts. The Company has consolidated cemetery perpetual care trust investments with a corresponding amount recorded as Cemetery Perpetual Care Obligation in the accompanying consolidated balance sheets.

The components of the cemetery perpetual care obligation are as follows:

	December 31
	2014	2013
Trust investments, at market value	$ 2,645,423	$ 2,414,883
Note receivables from Cottonwood Mortuary
Singing Hills Cemetery and Memorial Estates - Pinehill
eliminated in consolidation	1,847,892	1,881,565
Total trust assets	4,493,315	4,296,448
Cemetery perpetual care obligation	(3,406,718)	(3,266,131)
Fair value of trust assets in excess of trust obligations	$ 1,086,597	$ 1,030,317

The Company has established and maintains certain restricted trust investments to provide for future merchandise and service obligations incurred in connection with its pre-need sales. Also included in cash and cash equivalents are escrows held for borrowers under servicing agreements relating to mortgage loans, funds held by warehouse banks in accordance with loan purchase agreements and funds held in escrow for the construction of a 282-unit multifamily development in Sandy City, Utah.

Assets in the restricted asset account are summarized as follows:

	December 31
	2014	2013
Cash and cash equivalents	$ 7,274,685	$ 4,746,417
Mutual funds	627,154	582,163
Fixed maturity securities	8,775	8,775
Equity securities	88,048	84,986
Participating in mortgage loans with Security National Life	1,349,135	1,248,639
Total	$ 9,347,797	$ 6,670,980

A surplus note receivable and interest, at December 31, 2014 and December 31, 2013 in the amount of $4,000,000 from Security National Life was eliminated in consolidation.

Note 8: Income Taxes

12 Months Ended

Dec. 31, 2014

Notes

Note 8: Income Taxes

8) Income Taxes

The Company’s income tax liability (benefit) at December 31 is summarized as follows:

	December 31	December 31
	2014	2013
Current	$ (333,350)	$ (1,578,071)
Deferred	20,755,117	17,529,919
Total	$ 20,421,767	$ 15,951,848

Significant components of the Company’s deferred tax (assets) and liabilities at December 31 are approximately as follows:

	December 31
	2014	2013
Assets
Future policy benefits	$ (6,856,001)	$ (5,381,385)
Loan loss reserve	(670,078)	(2,147,547)
Unearned premium	(1,687,059)	(1,759,087)
Available for sale securities	(125,797)	(566,316)
Net operating loss	(1,738,137)	(873,412)
Deferred compensation	(1,279,860)	(1,057,551)
Deposit obligations	(1,018,313)	(1,043,964)
Other	(1,398,152)	(1,287,773)
Less: Valuation allowance	5,276,431	5,593,063
Total deferred tax assets	(9,496,966)	(8,523,972)

Liabilities
Deferred policy acquisition costs	12,271,954	10,914,618
Basis difference in property and equipment	7,049,551	6,242,266
Value of business acquired	2,906,193	2,951,487
Deferred gains	5,472,003	3,545,692
Trusts	1,599,657	1,599,657
Tax on unrealized appreciation	952,725	800,171
Total deferred tax liabilities	30,252,083	26,053,891
Net deferred tax liability	$ 20,755,117	$ 17,529,919

The valuation allowance relates to differences between recorded deferred tax assets and liabilities and ultimate anticipated realization.

The valuation allowance decreased $316,632 during 2014 and $735,868 during 2013.

The Company paid $408,939, $4,009,598 and $1,900,000 in income taxes for 2014, 2013 and 2012, respectively.

The Company’s income tax expense (benefit) is summarized as follows for the years ended December 31:

	2014	2013	2012
Current	$ 1,653,663	$ 1,821,539	$ 2,707,962
Deferred	3,072,642	416,267	1,930,813
Total	$ 4,726,305	$ 2,237,806	$ 4,638,775

The reconciliation of income tax expense at the U.S. federal statutory rates is as follows:

	2014	2013	2012
Computed expense at statutory rate	$ 4,243,524	$ 3,340,067	$ 7,472,953
Tax audit settlements	-	20,371	-
Other, net	482,781	(1,122,632)	(2,834,178)
Tax expense (benefit)	$ 4,726,305	$ 2,237,806	$ 4,638,775

At December 31, 2014, the Company had no significant unrecognized tax benefits. As of December 31, 2014, the Company does not expect any material changes to the estimated amount of unrecognized tax benefits in the next twelve months. Federal and state income tax returns for 2011 through 2014 are subject to examination by taxing authorities. An examination of the Company’s 2012 federal income tax return is in process.

Note 9: Reinsurance, Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Notes

Note 9: Reinsurance, Commitments and Contingencies

9) Reinsurance, Commitments and Contingencies

Reinsurance

The Company follows the procedure of reinsuring risks in excess of a specified limit, which ranged from $25,000 to $100,000 during the years 2014 and 2013. The Company is liable for these amounts in the event such reinsurers are unable to pay their portion of the claims. The Company has also assumed insurance from other companies having insurance in force amounting to approximately $1,462,340,000 (unaudited) at December 31, 2014 and approximately $1,566,336,000 (unaudited) at December 31, 2013.

Reinsurance Agreement with American Republic Insurance Company

On February 11, 2015, the Company signed a coinsurance agreement to reinsure certain life insurance policies from American Republic Insurance Company (“American Republic”). The policies were previously reinsured by North America Life under a coinsurance agreement between World Insurance Company (“World Insurance”) and North America Life entered into on July 22, 2009 which was commuted. World Insurance was subsequently purchased by and merged into American Republic. The current coinsurance agreement is between the Company and American Republic and became effective on January 1, 2015. As part of the coinsurance agreement, American Republic transferred all contractual obligations and risks to the Company and the Company took control of $15,004,771 of assets in a trust account held by Texas Capital Bank as the trustee.

Reinsurance Agreement with LJA Insurance Company

On December 19, 2014, the Company entered into a Coinsurance Funds Withheld Reinsurance Agreement with LJA Insurance Company (“LJA Insurance”), a Republic of the Marshall Islands domiciled insurance company. This agreement was effective November 1, 2014. Under the terms of the funds withheld agreement, the Company ceded to LJA Insurance 100% of three blocks of deferred annuities in the amount of $4,337,000 and retained the assets and recorded a funds held under coinsurance liability for the same amount. LJA Insurance agreed to pay the Company an initial ceding commission of $60,000 and an asset management fee of $16,000 per quarter to administer the policies. The Company will also receive a 90% experience refund for any profits from the business. The Company has the right to recapture the business by giving LJA Insurance 90 days written notice, or it may be terminated by mutual consent of both parties.

Reinsurance Terminated with North America Life Insurance Company

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

Mortgage Loan Loss Settlements

The mortgage industry has seen potential loan losses increase. Future loan losses are extremely difficult to estimate, especially in the current market. However, management believes that the Company’s reserve methodology and its current practice of property preservation allow it to estimate its losses on loans sold. The amounts accrued for loan losses in years ended December 31, 2014 and 2013 were $3,053,000 and $1,846,000, respectively. The estimated liability for indemnification losses is included in other liabilities and accrued expenses and, as of December 31, 2014 and 2013, the balances were $1,718,000 and $5,507,000, respectively.

Final Settlement with Wells Fargo

On April 7, 2011, SecurityNational Mortgage Company ("SecurityNational Mortgage"), a wholly owned subsidiary of Security National Financial Corporation, entered into the Settlement Agreement and Release (the "Settlement Agreement") with Wells Fargo Funding, Inc. ("Wells Fargo Funding"). On December 4, 2014, SecurityNational Mortgage and Wells Fargo Bank (which was assigned Wells Fargo Funding's interest in the Settlement Agreement) entered into a Second Addendum (the "Addendum") to the Settlement Agreement, in which SecurityNational Mortgage agreed to make a final payment to Wells Fargo Bank by December 30, 2014, to satisfy and terminate its remaining payment obligations under the Settlement Agreement. On December 29, 2014, SecurityNational Mortgage made the final payment to Wells Fargo Bank pursuant to the terms of the Addendum from its loan loss reserve, thereby satisfying in full its payment obligations under the Settlement Agreement.

Settlement with Bank of America, N.A. and Countrywide Home Loans, Inc.

On December 23, 2014, SecurityNational Mortgage entered into a Settlement Agreement (the “Settlement Agreement”) with Countrywide Home Loans, Inc. (“Countrywide Home Loans”), Bank of America, N.A. (“Bank of America”), successor-in-interest by the April 27, 2009 de jure merger to Countrywide Bank, FSB. Under the terms of the Settlement Agreement, SecurityNational Mortgage is required to pay a settlement amount to Bank of America and Countrywide Home Loans, jointly as settlement purchasers. On December 23, 2014, SecurityNational Mortgage made the full and final settlement payment from its mortgage loan loss reserve to Bank of America and Countrywide Home Loans by wire transfer.

The payment of the settlement amount is in full and final settlement of the claims and disputes between Bank of America and Countrywide Home Loans, and SecurityNational Mortgage under certain loan purchase agreements. Bank of America, Countrywide Home Loans and SecurityNational Mortgage are parties to the Loan Purchase Agreement, originally entered into between Countrywide Funding Corporation and SecurityNational Mortgage, dated September 27, 1994; and Countrywide Home Loans and SecurityNational Mortgage are parties to the Home Equity Loan Purchase Agreement, dated January 15, 1997, including any amendments or modifications to such agreements (collectively, the “Loan Purchase Agreements”).

Under the terms of the Settlement Agreement, SecurityNational Mortgage, Bank of America and Countrywide Home Loans agreed to full, complete and general mutual releases with respect to the alleged claims and disputes. In particular, Bank of America and Countrywide Home Loans, as settlement purchasers, and SecurityNational Mortgage Company, as settlement seller, and their respective parent and subsidiary entities, predecessors, successors and affiliates agree to fully, finally and completely release and forever discharge each other and their respective parent and subsidiary entities, predecessors, successors, affiliates, assigns and their respective current and past directors, officers, employees, representatives and agents from any and all claims and disputes under the Loan Purchase Agreements. The settlement agreement is subject to an exception for pervasive or system-wide fraud.

Mortgage Loan Loss Demands

Third Party Investors

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

The total amount of potential claims by third party investors is difficult to determine. The Company has reserved and accrued $1,702,000 as of December 31, 2014 to settle all such investor related claims. The Company believes that the reserve for mortgage loan loss, which includes provisions for probable losses and indemnification on mortgage loans sold to investors, is reasonable based on available information. Moreover, the Company has successfully negotiated acceptable settlement terms with other third party investors that asserted claims for mortgage loan losses against SecurityNational Mortgage.

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

JP Morgan Chase Indemnification Demand

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

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

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

Mortgage Loan Loss Litigation

Lehman Brothers - Aurora Loan Services Litigation

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

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

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

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

During 2010 and 2011, the Company recognized alleged losses of $1,289,000 and $-0-, respectively. Management cannot fully determine the total losses, however, because there could be potential claims for losses that have not yet been determined. As of December 31, 2014, the Company had not accrued for any losses under the Indemnification Agreement. SecurityNational Mortgage was involved in discussions with Lehman Bank and Lehman Holdings concerning issues under the Indemnification Agreement. During the discussion period, monthly payments for December 2010 and January, February, March and April of 2011 totaling $625,000 were abated or deferred.

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

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

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

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

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

On May 6, 2014, Judge Nuffer issued his summary of facts, conclusions of law and order granting SecurityNational Mortgage’s motion for summary judgment and denying the cross motion of Lehman Bank and Aurora Loan Services. On May 27, 2014, Lehman Bank and Aurora Loan Services filed a motion to reconsider Judge Nuffer’s summary judgment ruling. On June 2, 2014, a hearing was held before Judge Nuffer to determine the amount owing to SecurityNational Mortgage pursuant to the summary judgment ruling. On December 23, 2014, Judge Nuffer issued an order denying Lehman Bank’s and Aurora Loan Services’ motion for reconsideration of his summary judgment ruling in favor of SecurityNational Mortgage.

On December 24, 2014, Judge Nuffer issued an amended order granting SecurityNational Mortgage’s motion for summary judgment. The amended order provided that the amount of monies previously paid by SecurityNational Mortgage that were wrongfully applied by Lehman Bank to losses on loans actually owed by Lehman Holdings, as established at the June 2, 2014 hearing, was $3,892,974. The amended order also provided for prejudgment interest at 9% per annum to SecurityNational Mortgage. The total amount of prejudgment interest awarded is $1,674,240 through May 31, 2014, with a per diem of $960 for each day after May 31, 2014 until judgment. The court also commented that further replenishment of the indemnification fund under the Indemnification Agreement appears to be barred by language in the assignment effecting a waiver, but that this issue had not been briefed before the June 2, 2014 hearing. In addition, the court stated that the offset that Lehman Bank and Aurora Loan Services pled as an affirmative defense had not yet been adjudicated by the court. Finally, the court ordered the parties to meet and confer by January 16, 2015, and to file a motion to schedule the disposition of the remaining issues in the case. The motion is to clarify whether any issues other than the offset remain to be resolved.

On May 7, 2014, Judge Stewart issued an order for the parties to submit supplemental briefs as to the effect of Judge Nuffer’s summary judgment order on SecurityNational Mortgage’s motion for summary judgment in the Lehman Holdings case. The supplemental briefing was continued until January 16, 2015. Judge Stewart also granted leave for SecurityNational Mortgage to file an additional motion for summary judgment in the Lehman Holdings case on the basis that the claims of Lehman Holdings are barred by the statute of limitations. The motion was also to be filed by January 16, 2015. The August 11, 2014 trial setting before Judge Stewart in the Lehman Holdings case was stricken without providing a new trial date.

On January 16, 2015, SecurityNational Mortgage and Lehman Holdings filed briefs with Judge Stewart concerning the effect of the rulings in Judge Nuffer’s case on the case before Judge Stewart, and on the same date SecurityNational Mortgage filed a motion for summary judgment in the Lehman Holdings case based on the statute of limitations. A hearing concerning SecurityNational Mortgage’s summary judgment motion based on the statute of limitations is scheduled before Judge Stuart on April 14, 2015. On February 28, 2015, Lehman Bank and Aurora Loan Services filed a partial summary judgment motion before Judge Nuffer asserting that the Indemnification Agreement security fund should be replenished, and for a right to offset alleged losses of approximately $8.6 million, based on more than 100 loans retained by Lehman Bank, against the amount owing to SecurityNational per Judge Nuffer’s summary judgment order. Lehman Bank and Aurora Loan Services asserts that another 124 loans are not analyzed yet for potential breaches.

SecurityNational Mortgage had until March 30, 2015 to respond to the motion of Lehman Bank and Aurora Loan Services, and to file a motion if so determined by SecurityNational Mortgage. SecurityNational Mortgage asserts that Lehman Bank and Aurora Loan Services have no rights to a replenishment of the Indemnification Agreement reserve account, or for any offset against the liability of Lehman Bank and Aurora Loan Services to SecurityNational Mortgage, including the assertion that Lehman Bank and Aurora Loan Services executed an assignment to Lehman Holdings containing a waiver and release of rights and remedies which affect the foregoing asserted replenishment and offset matters. On March 30, 2015, SecurityNational Mortgage filed a response in opposition to the partial summary judgment motion of Lehman Bank and Aurora Loan Services and also filed its own partial summary judgment motion on the same issue against Lehman Bank and Aurora Loan Services.

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 operation.

Non-Cancelable Leases

The Company leases office space and equipment under various non-cancelable agreements, with remaining terms up to five years. Minimum lease payments under these non-cancelable operating leases as of December 31, 2014, are approximately as follows:

Years Ending
December 31
2015	$ 4,299,185
2016	3,610,599
2017	2,835,947
2018	1,188,581
2019	563,956
Total	$ 12,498,268

Total rent expense related to non-cancelable operating leases for the years ended December 31, 2014, 2013, and 2012 was approximately $5,589,000, $4,307,000 and $3,425,000, respectively.

Other Contingencies and Commitments

The Company has entered into commitments to fund new residential construction loans. As of December 31, 2014, the Company’s commitments were $49,307,000, for these loans of which $33,072,000 had been funded. The Company will advance funds once the work has been completed and an independent inspection is made. The maximum loan commitment ranges between 50% and 80% of appraised value. The Company receives fees from the borrowers and the interest rate is generally 2% to 6.75% over the bank prime rate (3.25% as of December 31, 2014). Maturities range between six and twelve months.

The Company belongs to a captive insurance group for certain casualty insurance, worker compensation and liability programs. Insurance reserves are maintained relative to these programs. The level of exposure from catastrophic events is limited by the purchase of stop-loss and aggregate liability reinsurance coverage. When estimating the insurance liabilities and related reserves, the captive insurance management considers a number of factors, which include historical claims experience, demographic factors, severity factors and valuations provided by independent third-party actuaries. If actual claims or adverse development of loss reserves occurs and exceed these estimates, additional reserves may be required. The estimation process contains uncertainty since captive insurance management must use judgment to estimate the ultimate cost that will be incurred to settle reported claims and unreported claims for incidents incurred but not reported as of the balance sheet date. At December 31, 2014, $929,417 of reserves was established related to such insurance programs versus $524,034 at December 31, 2013.

The Company is a defendant in various other legal actions arising from the normal conduct of business. Management believes that none of the actions will have a material effect on the Company’s financial position or results of operations. Based on management’s assessment and legal counsel’s representations concerning the likelihood of unfavorable outcomes, no amounts have been accrued for the above claims in the consolidated financial statements.

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

Note 10: Retirement Plans

12 Months Ended

Dec. 31, 2014

Notes

Note 10: Retirement Plans

10) Retirement Plans

The Company and its subsidiaries have a noncontributory Employee Stock Ownership Plan (ESOP) for all eligible employees. Eligible employees are primarily those with more than one year of service, who work in excess of 1,000 hours per year. Contributions, which may be in cash or stock of the Company, are determined annually by the Board of Directors.

The Company’s contributions are allocated to eligible employees based on the ratio of each eligible employee’s compensation to total compensation for all eligible employees during each year. The Company did not make any contributions for 2014, 2013 and 2012. At December 31, 2014, the ESOP held 579,918 shares of Class A and 252,974 shares of Class C common stock of the Company. All shares held by the ESOP have been allocated to the participating employees and all shares held by the ESOP are considered outstanding for purposes of computing earnings per share.

The Company has three 401(k) savings plans covering all eligible employees, as defined above, which includes employer participation in accordance with the provisions of Section 401(k) of the Internal Revenue Code. The plans allow participants to make pretax contributions up to a maximum of $17,500, $17,500 and $17,000 for the years 2014, 2013 and 2012, respectively or the statutory limits.

Beginning January 1, 2008, the Company elected to be a “Safe Harbor” Plan for its matching 401(k) contributions. The Company matched 100% of up to 3% of an employee’s total annual compensation and matched 50% of 4% to 5% of an employee’s annual compensation. The match was in Company stock. The Company’s contribution for 2014, 2013 and 2012 was $808,572, $749,898 and $222,719, respectively under the “Safe Harbor” plan.

In 2001, the Company’s Board of Directors adopted a Deferred Compensation Plan. Under the terms of the Plan, the Company will provide deferred compensation for a select group of management or highly compensated employees, within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended. The Board has appointed a Committee of the Company to be the Plan Administrator and to determine the employees who are eligible to participate in the plan. The employees who participate may elect to defer a portion of their compensation into the plan. The Company may contribute into the plan at the discretion of the Company’s Board of Directors. The Company did not make any contributions for 2014, 2013 and 2012.

The Company had a deferred compensation agreement with its past Chief Executive Officer. The deferred compensation was payable on the retirement or death of this individual either in annual installments over 10 years or in a lump sum settlement, if approved by the Board of Directors. The amount to be paid was $60,000 per year with cost of living adjustments each anniversary. The compensation agreement also provided that any remaining balance would be paid to his heirs in the event of his death. In 2014, the Board of Directors approved a lump sum for the payment of $598,426, which represented a full and final payment

On July 16, 2004, the Company entered into an employment agreement with Scott M. Quist, the Chairman of the Board, President and Chief Executive Officer. The agreement is effective as of December 4, 2003 and has a five-year term, but the Company has agreed to renew the agreement on December 4, 2008 and 2013 for additional five-year terms, provided Mr. Quist performs his duties with usual and customary care and diligence. Under the terms of the agreement, Mr. Quist is to devote his full time to the Company serving as its Chairman of the Board, President, and Chief Executive Officer at not less than his current salary and benefits. The Company also agrees to maintain a group term life insurance policy of not less than $1,000,000 on Mr. Quist’s life and a whole life insurance policy in the amount of $500,000 on Mr. Quist’s life. In the event of disability, Mr. Quist’s salary would be continued for up to five years at 75% of its current level.

On In the event of a sale or merger of the Company and Mr. Quist is not retained in his current position, the Company would be obligated to continue Mr. Quist’s current compensation and benefits for seven years following the merger or sale. The agreement further provides that Mr. Quist is entitled to receive annual retirement benefits beginning (i) one month from the date of his retirement (to commence no sooner than age 65), (ii) five years following complete disability, or (iii) upon termination of his employment without cause. These retirement benefits are to be paid for a period of twenty years in annual installments in the amount equal to 75% of his then current rate of compensation. However, in the event that Mr. Quist dies prior to receiving all retirement benefits there under, the remaining benefits are to be paid to his heirs. The Company expensed $833,183 and $264,000 in fiscal 2014 and 2013, respectively, to cover the present value of anticipated retirement benefits under the employment agreement. The liability accrued is $2,270,425 and $1,437,242 as of December 31, 2014 and 2013, respectively.

On December 4, 2003, the Company, through its subsidiary SecurityNational Mortgage Company, entered into an employment agreement with J. Lynn Beckstead, Jr., Vice President of Mortgage Operations and President of SecurityNational Mortgage Company. The agreement has a five-year term, but the Company has agreed to renew the agreement on December 4, 2008 and 2013 for additional five-year terms, provided Mr. Beckstead performs his duties with usual and customary care and diligence. Under the terms of the agreement, Mr. Beckstead is to devote his full time to the Company serving as President of SecurityNational Mortgage Company at not less than his current salary and benefits, and to include $350,000 of life insurance protection. In the event of disability, Mr. Beckstead’s salary would be continued for up to five years at 50% of its current level.

In the event of a sale or merger of the Company and Mr. Beckstead is not retained in his current position, the Company would be obligated to continue Mr. Beckstead’s current compensation and benefits for five years following the merger or sale. The agreement further provides that Mr. Beckstead is entitled to receive annual retirement benefits beginning (i) one month from the date of his retirement (to commence no sooner than age 62½) (ii) five years following complete disability, or (iii) upon termination of his employment without cause. These retirement benefits are to be paid for a period of ten years in annual installments in the amount equal to one-half of his then current annual salary. However, in the event that Mr. Beckstead dies prior to receiving all retirement benefits there under, the remaining benefits are to be paid to his heirs. The Company expensed $154,817 and $-0- in fiscal 2014 and 2013, respectively, to cover the present value of the retirement benefit of the agreement. The liability accrued is $768,220 and $613,403, as of December 31, 2014 and 2013, respectively.

Note 11: Capital Stock

12 Months Ended

Dec. 31, 2014

Notes

Note 11: Capital Stock

11) Capital Stock

The Company has two classes of common stock with shares outstanding, Class A common shares and Class C common shares. Class C shares have 10 votes per share on all matters except for the election of one third of the directors who are elected solely by the Class A shares. Class C shares are convertible into Class A shares at any time on a one to one ratio. The decrease in treasury stock was the result of treasury stock being used to fund the company’s 401(k) and Deferred Compensation Plans.

Stockholders of both classes of common stock have received 5% stock dividends in the years 1990 through 2014, as authorized by the Company’s Board of Directors.

The Company has Class B common stock of $1.00 par value, 5,000,000 shares authorized, of which none are issued. Class B shares are non-voting stock except to any proposed amendment to the Articles of Incorporation which would affect Class B common stock.

On July 2, 2014, the stockholders approved a 1-for-10 reverse stock split of the Company’s Class C common stock at the Annual Meeting of Stockholders. Concurrently with the approval of the reverse stock split, the stockholders also approved amendments to Article V of the Company’s Articles of Incorporation to provide that each share of Class C common stock will have weighted voting of ten votes per share and that each share of Class C common stock may be converted into one share of Class A common stock. The Board of Directors had previously approved the reverse stock split and weighted voting of Class C common stock. Prior to the approval of the reverse stock split and weighted voting of Class C shares, the Company’s Articles of Incorporation provided that each share of Class C common stock had one vote per share and that Class C common shares were convertible into Class A common shares at a conversion ratio of ten shares of Class C common stock for one share of Class A common stock.

The reverse stock split and weighted voting of the Company's Class C common stock became effective on August 1, 2014, when the Articles of Restatement and Amendment to the Company's Articles of Incorporation were filed with the Utah Division of Corporations and Commercial Code. The reverse stock split will affect all of the holders of the Company's Class C common stock uniformly but will not affect any Class C stockholder's percentage ownership interest in the Company or proportionate voting power, except for insignificant changes that will result from the rounding up of fractional shares. Additionally, the reverse stock split will not impact the existing shares of Class A common stock.

The following table summarizes the activity in shares of capital stock for the three-year period ended December 31, 2014:

	Class A	Class C (1)
Balance at December 31, 2011	9,638,798	1,013,598

Exercise of stock options	685,753	31,891
Stock dividends	518,702	52,244
Conversion of Class C to Class A	323	(323)

Balance at December 31, 2012	10,843,576	1,097,410

Exercise of stock options	359,786	211,211
Stock dividends	562,152	63,342
Conversion of Class C to Class A	41,773	(41,773)

Balance at December 31, 2013	11,807,287	1,330,191

Exercise of stock options	54,412	-
Stock dividends	595,020	66,384
Reverse stock split true up		15
Conversion of Class C to Class A	2,521	(2,521)

Balance at December 31, 2014	12,459,240	1,394,069

(1) Class C shares have been retroactively adjusted for the effect of the 1-for-10 reverse stock split that was approved by the stockholders in 2014.

Earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. In accordance with accounting principles generally accepted in the United States of America, the basic and diluted earnings per share amounts were calculated as follows:

	2014	2013	2012
Numerator:
Net earnings	$ 7,754,648	$ 7,585,921	$ 16,712,518

Denominator:
Denominator for basic earnings
per share-weighted-average shares	12,518,743	12,366,029	11,427,568

Effect of dilutive securities
Employee stock options	409,266	615,547	599,281
Dilutive potential common shares	409,266	615,547	599,281

Denominator for diluted earnings (loss)
per share-adjusted weighted-average
shares and assumed conversions	12,928,009	12,981,576	12,026,849

Basic earnings per share	$0.62	$0.61	$1.46
Diluted earnings per share	$0.60	$0.58	$1.39

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
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-Number 210
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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-Number 210
-Section 04
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+ Details

Note 12: Stock Compensation Plans

12 Months Ended

Dec. 31, 2014

Notes

Note 12: Stock Compensation Plans

12) Stock Compensation Plans

The Company has four fixed option plans (the “2003 Plan”, the “2006 Director Plan”, the “2013 Plan” and the “2014 Director Plan”). Compensation expense for options issued of $391,220, $88,369 and $251,031 has been recognized under these plans for 2014, 2013 and 2012, respectively. As of December 31, 2014, the total unrecognized compensation expense related to the options issued in December 2014 and July 2014 were $280,287 and $86,924, respectively, which is expected to be recognized over the vesting period of one year.

The weighted-average fair value of each option granted in 2014 under the 2013 Plan, is estimated at $1.74 for the July 2, 2014 options as of the grant date using the Black Scholes Option Pricing Model with the following assumptions: dividend yield of 5%, volatility of 57.77%, risk-free interest rate of 1.79%, and an expected term of 5.32 years.

The weighted-average fair value of each option granted in 2014 under the 2013 Plan and the 2014 Director Plan, is estimated at $1.56 for the December 5, 2014 options as of the grant date using the Black Scholes Option Pricing Model with the following assumptions: dividend yield of 5%, volatility of 52.31%, risk-free interest rate of 1.69%, and an expected term of 5.31 years.

The weighted-average fair value of each option granted in 2014 under the 2014 Director Plan, is estimated at $1.56 for the December 7, 2014 options as of the grant date using the Black Scholes Option Pricing Model with the following assumptions: dividend yield of 5%, volatility of 52.27%, risk-free interest rate of 1.76%, and an expected term of 5.31 years.

The weighted-average fair value of each option granted in 2013 under the 2013 Plan and the 2006 Director Plan, is estimated at $1.96 for the December 6, 2013 and December 7, 2013 options as of the grant date using the Black Scholes Option Pricing Model with the following assumptions: dividend yield of 5%, volatility of 67.93%, risk-free interest rate of 1.68%, and an expected term of 5.31 years. The weighted-average fair value of each option granted in 2012 under the 2006 Director Plan, is estimated at $3.18 for the December 7, 2012 options as of the grant date using the Black Scholes Option Pricing Model with the following weighted-average assumptions: dividend yield of 5%, volatility of 73.89%, risk-free interest rate of 0.70%, and an expected term of 5.31 years.

The weighted-average fair value of each option granted in 2012 under the 2003 Plan and the 2006 Director Plan, is estimated at $0.64 and $0.66, respectively for the April 13, 2012 options as of the grant date using the Black Scholes Option Pricing Model with the following weighted-average assumptions: dividend yield of 5% and 5%, volatility of 70.26% and 72.58%, risk-free interest rate of 0.84% and 1.04%, and an expected term of 4.53 to 5.32 years, respectively.

The Company generally estimates the expected life of the options based upon the contractual term of the options adjusted for actual experience. Future volatility is estimated based upon the weighted historical volatility of the Company’s Class A common stock and three peer company stocks over a period equal to the estimated life of the options. Common stock issued upon exercise of stock options are generally new share issuances rather than from treasury shares.

Activity of the stock option plans is summarized as follows:
	Number of Class A Shares	Weighted Average Exercise Price	Number of Class C Shares	Weighted Average Exercise Price
Outstanding at December 31, 2011	1,996,543	$ 2.40	361,028	$ 2.38
Adjustment for the effect of stock dividends	43,928		24,515
Granted	347,000		-
Exercised	(1,041,276)		(52,500)
Cancelled	(123,134)		-
Reclass from A to C	(250,808)		250,808

Outstanding at December 31, 2012	972,253	$ 2.07	583,851	$ 2.18
Adjustment for the effect of stock dividends	17,962		24,222
Granted	81,960		50,000
Exercised	(485,366)		(190,602)
Cancelled	(76,676)		(63,814)
Reclass from A to C	(105,000)		105,000

Outstanding at December 31, 2013	405,133	$ 2.41	508,657	$ 2.00
Adjustment for the effect of stock dividends	24,446		32,934
Granted	173,500		150,000
Exercised	(59,713)		-
Cancelled	(30,571)		-

Outstanding at December 31, 2014	512,795	$ 3.20	691,591	$ 2.54

Exercisable at end of year	343,987	$ 2.50	547,216	$ 2.00

Available options for future grant	265,198		-

Weighted average contractual term of options
outstanding at December 31, 2014	7.70 years		3.42 years

Weighted average contractual term of options
exercisable at December 31, 2014	6.65 years		1.79 years

Aggregated intrinsic value of options outstanding
at December 31, 2014 (1)	$1,042,682		$1,856,886

Aggregated intrinsic value of options exercisable
at December 31, 2014 (1)	$940,079		$1,780,498

(1) The Company used a stock price of $5.22 as of December 31, 2014 to derive intrinsic value.

The total intrinsic value (which is the amount by which the fair value of the underlying stock exceeds the exercise price of an option on the exercise date) of stock options exercised during the years ended December 31, 2014 and 2013 was $173,650 and $2,179,393, respectively.

Note 13: Statutory Financial Information and Dividend Limitations

12 Months Ended

Dec. 31, 2014

Notes

Note 13: Statutory Financial Information and Dividend Limitations

13) Statutory Financial Information and Dividend Limitations

The Company’s insurance subsidiaries prepare their statutory-basis financial statements in conformity with accounting practices prescribed or permitted by the insurance department of the applicable state of domicile. Prescribed statutory accounting practices include a variety of publications of the National Association of Insurance Commissioners (“NAIC”), as well as state laws, regulations and general administrative rules. Permitted statutory accounting practices encompass all accounting practices not so prescribed.

All states require domiciled insurance companies to prepare statutory-basis financial statements in conformity with the NAIC Accounting Practices and Procedures Manual, subject to any deviations prescribed or permitted by the applicable insurance commissioner and/or director. Statutory accounting practices differ from GAAP primarily since they require charging policy acquisition and certain sales inducement costs to expense as incurred, establishing life insurance reserves based on different actuarial assumptions, and valuing certain investments and establishing deferred taxes on a different basis.

Statutory net income and capital and surplus of the Company’s insurance subsidiaries, determined in accordance with statutory accounting practices prescribed or permitted by insurance regulatory authorities are as follows:

	Net Income			Capital and Surplus
	2014	2013	2012	2014	2013
Amounts by insurance subsidiary:
Security National Life Insurance Company	$ 5,137,208	$ 1,283,311	$ 391,533	$ 34,356,157	$ 29,597,289

Memorial Insurance Company of America	415	237	159	1,082,587	1,083,237

Southern Security Life Insurance Company, Inc.	467	1,288	184	1,590,424	1,586,832

Trans-Western Life Insurance Company	1,304	1,906	2,113	499,182	497,878

Total	$ 5,139,394	$ 1,286,742	$ 393,989	$ 37,528,350	$ 32,765,236

The Utah, Arkansas, Mississippi and Texas Insurance Departments impose minimum risk-based capital requirements (“RBC”) that were developed by the NAIC on insurance enterprises. The formulas for determining the RBC specify various factors that are applied to financial balances or various levels of activity based on the perceived degree of risk. Regulatory compliance is determined by a ratio (the “Ratio”) of the enterprise’s regulatory total adjusted capital, as defined by the NAIC, to its authorized control level, as defined by the NAIC. Enterprises below specific trigger points or ratios are classified within certain levels, each of which requires specified corrective action. The life insurance subsidiaries have a combined weighted Ratio that is greater than the first level of regulatory action as of December 31, 2014.

Generally, the net assets of the life insurance subsidiaries available for transfer to the Company are limited to the amounts of the life insurance subsidiaries net assets, as determined in accordance with statutory accounting practices, which were $37,528,350 at December 31, 2014, exceed minimum statutory capital requirements; however, payments of such amounts as dividends are subject to approval by regulatory authorities.

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References + Details

Note 14: Business Segment Information

12 Months Ended

Dec. 31, 2014

Notes

Note 14: Business Segment Information

14) Business Segment Information

Description of Products and Services by Segment

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

Measurement of Segment Profit or Loss and Segment Assets

The accounting policies of the reportable segments are the same as those described in the Significant Accounting Principles. Intersegment revenues are recorded at cost plus an agreed upon intercompany profit, and are eliminated upon consolidation.

Factors Management Used to Identify the Enterprise’s Reportable Segments

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

	2014
	Life	Cemetery/		Reconciling
	Insurance	Mortuary	Mortgage	Items	Consolidated
Revenues:
From external sources:
Revenue from customers	$ 57,037,623	$ 11,426,308	$ 124,668,054	$ -	$ 193,131,985
Net investment income	23,008,489	275,324	5,019,927	-	28,303,740
Realized gains (losses) on
investments and other assets	1,208,391	585,543	124,242	-	1,918,176
Other than temporary impairments	(164,240)	-	-	-	(164,240)
Other revenues	682,682	169,464	2,894,867	-	3,747,013
Intersegment revenues:
Net investment income	6,128,389	1,288,856	642,880	(8,060,125)	-
Total revenues	87,901,334	13,745,495	133,349,970	(8,060,125)	226,936,674
Expenses:
Death and other policy benefits	29,789,964	-	-	-	29,789,964
Increase in future policy benefits	18,060,151	-	-	-	18,060,151
Amortization of deferred policy and preneed acquisition costs and
value of business acquired	6,561,589	331,389	-	-	6,892,978
Depreciation	644,510	436,390	1,096,265	-	2,177,165
General, administrative and
other costs:
Intersegment	24,000	166,079	208,513	(398,592)	-
Provision for loan losses	-	-	3,053,403	-	3,053,403
Costs related to funding mortgage
loans	-	-	6,877,069	-	6,877,069
Other	23,045,928	10,245,144	111,319,492	(2)	144,610,562
Interest expense:
Intersegment	725,354	1,481,317	5,454,860	(7,661,531)	-
Other	578,083	421,920	1,994,426	-	2,994,429
Total benefits and expenses	79,429,579	13,082,239	130,004,028	(8,060,125)	214,455,721
Earnings before income taxes	$ 8,471,755	$ 663,256	$ 3,345,942	$ -	$ 12,480,953
Income tax expense	(3,427,254)	-	(1,299,051)	-	(4,726,305)
Net earnings	$ 5,044,501	$ 663,256	$ 2,046,891	$ -	$ 7,754,648

Identifiable assets	$ 652,348,803	$ 109,114,226	$ 52,349,204	$ (142,742,671)	$ 671,069,562

Goodwill	$ 2,765,570	$ -	$ -	$ -	$ 2,765,570

Expenditures for long-lived assets	$ 1,420,950	$ 121,677	$ 737,936	$ -	$ 2,280,563

	2013
	Life	Cemetery/		Reconciling
	Insurance	Mortuary	Mortgage	Items	Consolidated
Revenues:
From external sources:
Revenue from customers	$ 51,322,567	$ 12,000,375	$ 127,950,021	$ -	$ 191,272,963
Net investment income	15,877,784	268,923	4,207,295	-	20,354,002
Realized gains (losses) on
investments and other assets	1,402,352	15,699	-	-	1,418,051
Other than temporary impairments	(336,226)	-	-	-	(336,226)
Other revenues	538,009	94,703	1,973,518	-	2,606,230
Intersegment revenues:
Net investment income	7,220,282	1,356,825	262,074	(8,839,181)	-
Total revenues	76,024,768	13,736,525	134,392,908	(8,839,181)	215,315,020
Expenses:
Death and other policy benefits	28,534,936	-	-	-	28,534,936
Increase in future policy benefits	19,594,890	-	-	-	19,594,890
Amortization of deferred policy and preneed acquisition costs and
value of business acquired	4,811,300	370,537	-	-	5,181,837
Depreciation	401,893	426,641	792,535	-	1,621,069
General, administrative and
other costs:
Intersegment	24,000	141,367	199,193	(364,560)	-
Provision for loan losses	-	-	1,751,472	-	1,751,472
Costs related to funding mortgage
loans	-	-	6,635,290	-	6,635,290
Other	18,753,753	10,467,717	110,096,627	1	139,318,098
Interest expense:
Intersegment	802,352	1,664,096	6,008,174	(8,474,622)	-
Other	233,343	443,133	2,177,225	-	2,853,701
Total benefits and expenses	73,156,467	13,513,491	127,660,516	(8,839,181)	205,491,293
Earnings before income taxes	$ 2,868,301	$ 223,034	$ 6,732,392	$ -	$ 9,823,727
Income tax (expense) benefit	399,304	-	(2,637,110)	-	(2,237,806)
Net earnings	$ 3,267,605	$ 223,034	$ 4,095,282	$ -	$ 7,585,921

Identifiable assets	$ 591,465,834	$ 114,454,631	$ 50,250,677	$ (137,413,688)	$ 618,757,454

Goodwill	$ 391,848	$ 285,191	$ -	$ -	$ 677,039

Expenditures for long-lived assets	$ 659,259	$ 1,100,195	$ 1,810,879	$ -	$ 3,570,333

	2012
	Life	Cemetery/		Reconciling
	Insurance	Mortuary	Mortgage	Items	Consolidated
Revenues:
From external sources:
Revenue from customers	$ 49,550,904	$ 10,864,497	$ 150,553,261	$ -	$ 210,968,662
Net investment income	16,616,541	333,625	4,965,411	-	21,915,577
Realized gains (losses) on
investments and other assets	1,415,556	8,954	-	-	1,424,510
Other than temporary impairments	(1,207,632)	-	-	-	(1,207,632)
Other revenues	482,325	136,189	540,538	-	1,159,052
Intersegment revenues:
Net investment income	7,570,979	1,435,891	294,980	(9,301,850)	-
Total revenues	74,428,673	12,779,156	156,354,190	(9,301,850)	234,260,169
Expenses:
Death and other policy benefits	24,246,088	-	-	-	24,246,088
Increase in future policy benefits	21,435,191	-	-	-	21,435,191
Amortization of deferred policy and preneed acquisition costs and
value of business acquired	5,137,586	311,843	-	-	5,449,429
Depreciation	315,960	426,006	516,131	-	1,258,097
General, administrative and
other costs:
Intersegment	24,000	102,726	137,696	(264,422)	-
Provision for loan losses	-	-	4,239,418	-	4,239,418
Costs related to funding mortgage
loans	-	-	6,931,045	-	6,931,045
Other	17,824,800	9,582,499	118,198,014	2	145,605,315
Interest expense:
Intersegment	694,442	1,681,987	6,661,001	(9,037,430)	-
Other	159,659	455,449	3,129,185	-	3,744,293
Total benefits and expenses	69,837,726	12,560,510	139,812,490	(9,301,850)	212,908,876
Earnings before income taxes	$ 4,590,947	$ 218,646	$ 16,541,700	$ -	$ 21,351,293
Income tax (expense) benefit	1,755,258	-	(6,394,033)	-	(4,638,775)
Net earnings	$ 6,346,205	$ 218,646	$ 10,147,667	$ -	$ 16,712,518

Identifiable assets	$ 558,845,424	$ 116,368,747	$ 55,613,678	$ (133,611,226)	$ 597,216,623

Goodwill	$ 391,848	$ 285,191	$ -	$ -	$ 677,039

Expenditures for long-lived assets	$ 400,605	$ 689,154	$ 2,131,861	$ -	$ 3,221,620

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Note 15: Related Party Transactions

12 Months Ended

Dec. 31, 2014

Notes

Note 15: Related Party Transactions

15) Related Party Transactions

The Company’s Board of Directors has a written procedure, which requires disclosure to the Board of any material interest or any affiliation on the part of any of its officers, directors or employees that is in conflict or may be in conflict with the interests of the Company.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Note 16: Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2014

Notes

Note 16: Fair Value of Financial Instruments

16) Fair Value of Financial Instruments

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

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

Level 2: Financial assets and financial liabilities whose values are based on the following:

a) Quoted prices for similar assets or liabilities in active markets;

b) Quoted prices for identical or similar assets or liabilities in non-active markets; or

c) Valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability.

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

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

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

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

Securities Available for Sale and Held to Maturity: The fair values of investments in fixed maturity and equity securities along with methods used to estimate such values are disclosed in Note 2 of the Notes to Consolidated Statements.

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

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

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

The items shown under Level 3 are valued as follows:

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

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

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

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

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

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

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

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

The following table summarizes Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a recurring basis by their classification in the consolidated balance sheet at December 31, 2014.

	Total	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Assets accounted for at fair value on a recurring basis
Common stock	$ 6,752,750	$ 6,752,750	$ -	$ -
Total securities available for sale	6,752,750	6,752,750	-	-
Restricted assets of cemeteries and mortuaries	715,202	715,202	-	-
Cemetery perpetual care trust investments	695,235	695,235	-	-
Derivatives - interest rate lock commitments	2,111,529	-	-	2,111,529

Total assets accounted for at fair value on a recurring basis	$ 10,274,716	$ 8,163,187	$ -	$ 2,111,529

Liabilities accounted for at fair value on a recurring basis
Policyholder account balances	$ (45,310,699)	$ -	$ -	$ (45,310,699)
Future policy benefits - annuities	(65,540,985)	-	-	(65,540,985)
Derivatives - bank loan interest rate swaps	(31,370)	-	-	(31,370)
- call options	(116,036)	(116,036)	-	-
- put options	(11,867)	(11,867)
- interest rate lock commitments	(181,678)	-	-	(181,678)

Total liabilities accounted for at fair value on a recurring basis	$ (111,192,635)	$ (127,903)	$ -	$ (111,064,732)

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

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

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

Total Losses (Gains):

Included in earnings	2,689,969	(488,057)	-	-

Included in other
comprehensive income (loss)	-	-	441,943	26,940

Balance - December 31, 2014	$ (45,310,699)	$ (65,540,985)	$ 1,929,851	$ (31,370)

The following tables summarize Level 1, 2 and 3 financial assets and financial liabilities measured at fair value on a nonrecurring basis by their classification in the consolidated balance sheet at December 31, 2014.

	Total	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Assets accounted for at fair value on a nonrecurring basis
Mortgage servicing rights	$ 3,741,381	$ -	$ -	$ 3,741,381
Real estate held for investment	53,500	-	-	53,500

Total assets accounted for at fair value on a nonrecurring basis	$ 3,794,881	$ -	$ -	$ 3,794,881

	Total	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Assets accounted for at fair value on a recurring basis
Non-redeemable preferred stock
Common stock	$ 4,498,756	$ 4,498,756	$ -	$ -
Total securities available for sale	4,498,756	4,498,756	-	-
Restricted assets of cemeteries and mortuaries	667,149	667,149	-	-
Cemetery perpetual care trust investments	695,616	695,616	-	-
Derivatives - interest rate lock commitments	1,511,111	-	-	1,511,111
Total assets accounted for at fair value on a recurring basis	$ 7,372,632	$ 5,861,521	$ -	$ 1,511,111

Liabilities accounted for at fair value on a recurring basis
Policyholder account balances	$ (48,000,668)	$ -	$ -	$ (48,000,668)
Future policy benefits - annuities	(65,052,928)	-	-	(65,052,928)
Derivatives - bank loan interest rate swaps	(58,310)	-	-	(58,310)
- call options	(124,174)	(124,174)	-	-
- interest rate lock commitments	(23,203)	-	-	(23,203)
Total liabilities accounted for at fair value on a recurring basis	$ (113,259,283)	$ (124,174)	$ -	$ (113,135,109)

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

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

Balance - December 31, 2012	$ (49,746,337)	$ (65,171,687)	$ 2,961,465	$ (93,572)

Total Losses (Gains):

Included in earnings	1,745,669	118,759	-	-

Included in other comprehensive income (loss)	-	-	(1,473,557)	35,262

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

	Total	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Assets accounted for at fair value on a nonrecurring basis
Mortgage servicing rights	$ 2,494,254	$ -	$ -	$ 2,494,254
Mortgage loans on real estate	89,000	-	-	89,000
Real estate held for investment	660,784	-	-	660,784
Total assets accounted for at fair value on a nonrecurring basis	$ 3,244,038	$ -	$ -	$ 3,244,038

Fair Value of Financial Instruments Carried at Other Than Fair Value

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

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

The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows as of December 31, 2014:

	Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
Assets
Mortgage loans:
Residential	$ 51,876,621	$ -	$ -	$ 55,247,638	$ 55,247,638
Residential construction	32,971,824	-	-	32,971,824	32,971,824
Commercial	35,201,627	-	-	36,829,266	36,829,266
Mortgage loans, net	$ 120,050,072	$ -	$ -	$ 125,048,728	$ 125,048,728
Policy loans	7,011,012	-	-	7,011,012	7,011,012
Other loans	27,114,416	-	-	27,114,416	27,114,416
Short-term investments	27,059,495	-	-	27,059,495	27,059,495

Liabilities
Bank and other loans payable	$ (28,989,008)	$ -	$ -	$ (28,989,008)	$ (28,989,008)

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

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

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

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

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

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

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

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

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

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

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

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Note 17: Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2014

Notes

Note 17: Accumulated Other Comprehensive Income

17) Accumulated Other Comprehensive Income

The following summarizes the changes in accumulated other comprehensive income:

	December 31
	2014	2013
Unrealized losses on available for-sale securities	$ (390,143)	$ (12,299)
Reclassification adjustment for net realized gains in net income	293,985	538,311
Net unrealized gains (losses) before taxes	(96,158)	526,012
Tax (expense) benefit	30,310	(221,221)
Net	(65,848)	304,791
Potential unrealized gains for derivative bank loans (interest rate swaps) before taxes	26,940	35,262
Tax expense	(10,507)	(9,073)
Net	16,433	26,189
Potential unrealized gains (losses) for derivative mortgage loans before taxes	441,943	(1,473,557)
Tax (expense) benefit	(172,358)	426,614
Net	269,585	(1,046,943)
Other comprehensive income (loss) changes	$ 220,170	$ (715,963)

The following is the accumulated balances of other comprehensive income as of December 31, 2014:

	Beginning Balance December 31, 2013	Change for the period	Ending Balance December 31, 2014
Unrealized net gains on available-for-sale securities and trust investments	$ 346,341	$ (65,848)	$ 280,493

Unrealized gains (losses) on derivative mortgage loans	907,624	269,585	1,177,209

Unrealized gains (losses) on derivative bank loan interest rate swaps	(35,569)	16,433	(19,136)
Other comprehensive income	$ 1,218,396	$ 220,170	$ 1,438,566

The following is the accumulated balances of other comprehensive income as of December 31, 2013:

	Beginning Balance December 31, 2012	Change for the period	Ending Balance December 31, 2013
Unrealized net gains on available-for-sale securities and trust investments	$ 41,550	$ 304,791	$ 346,341

Unrealized gains (losses) on derivative mortgage loans	1,954,567	(1,046,943)	907,624

Unrealized gains (losses) on derivative bank loan interest rate swaps	(61,758)	26,189	(35,569)
Other comprehensive income	$ 1,934,359	$ (715,963)	$ 1,218,396

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
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-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
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-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Note 18: Derivative Commitments

12 Months Ended

Dec. 31, 2014

Notes

Note 18: Derivative Commitments

18) Derivative Commitments

The Company has adopted a strategy of selling “out of the money” call options on its available for sale equity securities as a source of revenue. The options give the purchaser the right to buy from the Company specified equity securities at a set price up to a pre-determined date in the future. The Company has adopted the selling of put options as a means of generating cash or purchasing equity securities at lower than current market prices. The Company receives an immediate payment of cash for the value of the option and establishes a liability for the market value of the option. The liability for options is adjusted to market value at each reporting date. The market value of outstanding options as of December 31, 2014 and December 31, 2013 was $127,903 and $124,174, respectively. In the event a call option is exercised, the Company recognizes a gain on the sale of the equity security and a gain from the sale of the option. If the option expires unexercised, the Company recognizes a gain from the sale of the option.

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

Fair Value of Derivative Instruments

Asset Derivatives

Liability Derivatives

December 31, 2014

December 31, 2013

December 31, 2014

December 31, 2013

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Derivatives designated as hedging instruments:

Interest rate lock and forward sales commitments

other assets

$2,111,529

other assets

$1,511,111

Other liabilities

$181,678

Other liabilities

$ 23,203

Call Options

Other liabilities

116,036

Other liabilities

124,174

Put Options

Other liabilities

11,867

Other liabilities

Interest rate swaps

Bank loans payable

31,370

Bank loans payable

58,310

Total

$2,111,529

$1,511,111

$340,951

$205,687

The following table shows the gain (loss) on derivatives for the periods presented. There were no gains or losses reclassified from accumulated other comprehensive income (OCI) into income or gains or losses recognized in income on derivatives ineffective portion or any amounts excluded from effective testing.

	Net Amount Gain (Loss) Recognized in OCI
	Years ended December 31
Derivative - Cash Flow Hedging Relationships:	2014	2013
Interest Rate Lock Commitments	$ 441,943	$ (1,473,557)
Interest Rate Swaps	26,940	35,262
Sub Total	468,883	(1,438,295)
Tax Effect	182,865	(417,541)
Total	$ 286,018	$ (1,020,754)

Note 19: Acquisitions

12 Months Ended

Dec. 31, 2014

Notes

Note 19: Acquisitions

19) Acquisitions

Acquisition of American Funeral Financial

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

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

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

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

The estimated fair value of the acquisition is based on market assumptions of the future value of the business acquired, the collectability of receivables, the current value of equipment purchased and the useful life of proprietary software. Based on the unobservable nature of certain of these assumptions, the valuation is considered Level 3 under the fair value hierarchy.

The following unaudited pro forma information has been prepared to present the results of operations of the Company assuming the acquisition of American Funeral Financial had occurred at the beginning of the years ended December 31, 2014, 2013 and 2012, respectively. This pro forma information is supplemental and does not necessarily present the operations of the Company that would have occurred had the acquisition occurred on those dates and may not reflect the operations that will occur in the future:

	For the Year Ended December 31 (unaudited)
	2014	2013	2012
Total revenues	$ 229,268,653	$ 220,011,370	$ 236,854,910
Net earnings	$ 7,996,405	$ 7,963,589	$ 16,576,647
Net earnings per Class A equivalent common share	$ 0.64	$ 0.64	$ 1.45
Net earnings per Class A equivalent common share
assuming dilution	$ 0.62	$ 0.61	$ 1.38

Note 20: Mortgage Servicing Rights

12 Months Ended

Dec. 31, 2014

Notes

Note 20: Mortgage Servicing Rights

20) Mortgage Servicing Rights

The following table presents the MSR activity for 2014 and 2013.

	December 31 2013
	2014	2013
Amortized cost:
Balance before valuation allowance at beginning of year	$ 4,844,101	$ 2,797,470
MSRs received as proceeds from loan sales	3,741,381	2,494,254
Amortization	(750,735)	(447,623)
Application of valuation allowance to write down MSRs with other than temporary impairment	-	-
Balance before valuation allowance at year end	$ 7,834,747	$ 4,844,101

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

Mortgage servicing rights, net	$ 7,834,747	$ 4,844,101

Estimated fair value of MSRs at year end	$ 8,485,570	$ 5,491,270

The Company reports these MSRs pursuant to the accounting policy discussed in Note 1 of the Notes to Consolidated Financial Statements. The following table summarizes the Company’s estimate of future amortization of its existing MSRs carried at amortized cost. This projection was developed using the assumptions made by management in its December 31, 2014 valuation of MSRs. The assumptions underlying the following estimate will change as market conditions and portfolio composition and behavior change, causing both actual and projected amortization levels to change over time. Therefore, the following estimates will change in a manner and amount not presently determinable by management.

		Estimated MSR Amortization
2015		$ 870,527
2016		870,527
2017		870,527
2018		870,527
2019		870,527
Thereafter		3,482,112
Total		$ 7,834,747

Note 21: Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2014

Notes

Note 21: Quarterly Financial Data (unaudited)

21) Quarterly Financial Data (Unaudited)

	2014
	Three Months Ended
	March 31	June 30	September 30	December 31
Revenues	$ 45,053,276	$ 59,411,730	$ 61,725,792	$ 60,745,876
Benefits and expenses	44,887,289	55,224,633	58,348,652	55,995,147
Earnings before income taxes	165,987	4,187,097	3,377,140	4,750,729
Income tax expense	(27,139)	(1,563,034)	(1,239,318)	(1,896,814)
Net earnings	138,848	2,624,063	2,137,822	2,853,915
Net earnings per common share (1)	$0.01	$0.21	$0.17	$0.23
Net earnings per common share assuming dilution (1)	$0.01	$0.20	$0.17	$0.22

	2013
	Three Months Ended
	March 31	June 30	September 30	December 31
Revenues	$ 54,852,234	$ 61,332,289	$ 50,552,791	$ 48,577,706
Benefits and expenses	51,624,611	56,862,769	48,588,507	48,415,406
Earnings before income taxes	3,227,623	4,469,520	1,964,284	162,300
Income tax benefit (expense)	(1,194,357)	(1,670,275)	(697,793)	1,324,619
Net earnings	2,033,266	2,799,245	1,266,491	1,486,919
Net earnings per common share	$0.17	$0.23	$0.10	$0.12
Net earnings per common share assuming dilution	$0.15	$0.21	$0.10	$0.11

	2012
	Three Months Ended
	March 31	June 30	September 30	December 31
Revenues	$ 47,323,223	$ 56,528,210	$ 63,747,903	$ 66,660,833
Benefits and expenses	44,994,631	51,491,833	57,615,608	58,806,804
Earnings before income taxes	2,328,592	5,036,377	6,132,295	7,854,029
Income tax expense	(666,409)	(1,443,345)	(2,142,249)	(386,772)
Net earnings	1,662,183	3,593,032	3,990,046	7,467,257
Net earnings per common share (1)	$0.16	$0.34	$0.37	$0.67
Net earnings per common share assuming dilution (1)	$0.15	$0.32	$0.34	$0.61

(1) Earnings per share amounts have been adjusted retroactively for the effect of annual stock dividends.

Note 1: Significant Accounting Policies: General Overview of Business (Policies)

12 Months Ended

Dec. 31, 2014

Policies

General Overview of Business

General Overview of Business

Note 1: Significant Accounting Policies: Basis of Presentation (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Basis of Presentation

Basis of Presentation

Note 1: Significant Accounting Policies: Principles of Consolidation (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Principles of Consolidation

Principles of Consolidation

Note 1: Significant Accounting Policies: Investments (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Investments

Investments

Policy and other loans are carried at the aggregate unpaid balances, less allowances for possible losses.

Short-term investments are carried at cost and consist of certificates of deposit and commercial paper with maturities of up to one year.

- Definition

Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment.

+ References + Details

Note 1: Significant Accounting Policies: Cash and Cash Equivalents (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Cash and Cash Equivalents

Cash and Cash Equivalents

For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents.

- Definition

Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.

+ References + Details

Note 1: Significant Accounting Policies: Cemetery Land and Improvements (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Cemetery Land and Improvements

Note 1: Significant Accounting Policies: Property and Equipment (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Property and Equipment

Property and Equipment

Note 1: Significant Accounting Policies: Recognition of Insurance Premiums and Other Considerations (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Recognition of Insurance Premiums and Other Considerations

Recognition of Insurance Premiums and Other Considerations

Note 1: Significant Accounting Policies: Deferred Policy Acquisition Costs and Value of Business Acquired (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Deferred Policy Acquisition Costs and Value of Business Acquired

Deferred Policy Acquisition Costs and Value of Business Acquired

Value of business acquired is the present value of estimated future profits of the acquired business and is amortized similar to deferred policy acquisition costs.

Note 1: Significant Accounting Policies: Mortgage Servicing Rights (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Mortgage Servicing Rights

Mortgage Servicing Rights

Note 1: Significant Accounting Policies: Derivatives (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Derivatives

Derivatives

- Definition

Disclosure of accounting policy for its derivative instruments and hedging activities.

+ References + Details

Note 1: Significant Accounting Policies: Allowance For Doubtful Accounts and Loan Losses and Impaired Loans (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Allowance For Doubtful Accounts and Loan Losses and Impaired Loans

Allowance for Doubtful Accounts and Loan Losses and Impaired Loans

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

Note 1: Significant Accounting Policies: Loan Loss Reserve (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Loan Loss Reserve

Loan Loss Reserve

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

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

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

Additional information related to the Loan Loss Reserve is included in Note 2.

Note 1: Significant Accounting Policies: Future Life, Annuity and Other Policy Benefits (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Future Life, Annuity and Other Policy Benefits

Note 1: Significant Accounting Policies: Participating Insurance (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Participating Insurance

Participating Insurance

Note 1: Significant Accounting Policies: Reinsurance (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Reinsurance

Reinsurance

Note 1: Significant Accounting Policies: Pre-need Sales and Costs (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Pre-need Sales and Costs

Pre-need Sales and Costs

Revenues and costs for at need sales are recorded when a valid contract exists, the services are performed, collection is reasonably assured and there are no significant obligations remaining.

Note 1: Significant Accounting Policies: Mortgage Fee Income (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Mortgage Fee Income

Mortgage Fee Income

· Failure to deliver original documents specified by the investor,

· The existence of misrepresentation or fraud in the origination of the loan,

· The loan becomes delinquent due to nonpayment during the first several months after it is sold,

· Early pay-off of a loan, as defined by the agreements,

· Excessive time to settle a loan,

· Investor declines purchase, and

· Discontinued product and expired commitment.

· Research reasons for rejection,

· Provide additional documents,

· Request investor exceptions,

· Appeal rejection decision to purchase committee, and

· Commit to secondary investors.

Determining Lower of Cost or Market

Cost is equal to the amount paid to the warehouse bank and the amount originally funded by the Company. Market value is often difficult to determine, but is based on the following:

· For loans that have an active market the Company uses the market price on the repurchased date.

· For loans where there is no market but there is a similar product, the Company uses the market value for the similar product on the repurchased date.

For mortgages originated and held for investment, mortgage fee income and related expenses are recognized when the loan is originated.

Commercial Loans

Residential and Construction Loans

Note 1: Significant Accounting Policies: Goodwill (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Goodwill

Goodwill

Note 1: Significant Accounting Policies: Long-lived Assets (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Long-lived Assets

Note 1: Significant Accounting Policies: Income Taxes (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Income Taxes

Income Taxes

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References + Details

Note 1: Significant Accounting Policies: Earnings Per Common Share (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Earnings Per Common Share

Earnings Per Common Share

Note 1: Significant Accounting Policies: Stock Based Compensation (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Stock Based Compensation

Stock Based Compensation

Note 1: Significant Accounting Policies: Concentration of Credit Risk (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Concentration of Credit Risk

Note 1: Significant Accounting Policies: Advertising (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Advertising

Advertising

The Company expenses advertising costs as incurred.

Note 1: Significant Accounting Policies: Recent Accounting Pronouncements (Policies)

12 Months Ended

Dec. 31, 2014

Policies

Recent Accounting Pronouncements

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

Note 2: Investments: Held-to-maturity Securities (Tables)

12 Months Ended

Dec. 31, 2014

AsOfDecember312014Member

Held-to-maturity Securities

	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
December 31, 2014:
Fixed maturity securities held to maturity carried at amortized cost:
U.S. Treasury securities and obligations of U.S. Government agencies	$ 1,873,146	$ 345,715	$ -	$ 2,218,861

Obligations of states and political subdivisions	1,736,489	221,893	(5,278)	1,953,104

Corporate securities including public utilities	126,533,483	15,841,536	(980,357)	141,394,662

Mortgage-backed securities	4,263,206	305,381	(11,894)	4,556,693

Redeemable preferred stock	612,023	22,032	-	634,055

Total fixed maturity securities held to maturity	$ 135,018,347	$ 16,736,557	$ (997,529)	$ 150,757,375

As Of December 31 2013

Held-to-maturity Securities

	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
December 31, 2013:
Fixed maturity securities held to maturity carried at amortized cost:
U.S. Treasury securities and obligations of U.S. Government agencies	$ 2,284,261	$ 298,901	$ -	$ 2,583,162

Obligations of states and political subdivisions	1,790,661	197,340	(9,404)	1,978,597

Corporate securities including public utilities	134,257,468	10,513,448	(1,394,919)	143,375,997

Mortgage-backed securities	4,522,081	206,617	(11,351)	4,717,347

Redeemable preferred stock	612,023	12,994	(5,900)	619,117

Total fixed maturity securities held to maturity	$ 143,466,494	$ 11,229,300	$ (1,421,574)	$ 153,274,220

- Definition

Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.

+ References + Details

Note 2: Investments: Available-for-sale Securities (Tables)

12 Months Ended

Dec. 31, 2014

AsOfDecember312014Member

Available-for-sale Securities

	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
December 31, 2014:

Equity securities available for sale at estimated fair value:

Common stock:

Industrial, miscellaneous and all other	$ 7,179,010	$ 393,873	$ (820,133)	$ 6,752,750

Total securities available for sale carried at estimated fair value	$ 7,179,010	$ 393,873	$ (820,133)	$ 6,752,750

Mortgage loans on real estate and construction loans held for investment at amortized cost:
Residential	$ 53,592,433
Residential construction	33,071,938
Commercial	35,388,756
Less: Allowance for loan losses	(2,003,055)

Total mortgage loans on real estate and construction loans held for investment	$ 120,050,072

Real estate held for investment - net of depreciation	$ 111,411,351

Policy and other loans at amortized cost:
Policy loans	$ 7,011,012
Other loans	27,807,829
Less: Allowance for doubtful accounts	(693,413)

Total policy and other loans at amortized cost	$ 34,125,428

Short-term investments at amortized cost	$ 27,059,495

As Of December 31 2013

Available-for-sale Securities

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

Equity securities available for sale at estimated fair value:

Common stock:

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

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

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

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

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

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

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

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

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

Note 2: Investments: Schedule of Unrealized Loss on Investments (Tables)

12 Months Ended

Dec. 31, 2014

Fixed Maturities

Schedule of Unrealized Loss on Investments

	Unrealized Losses for Less than Twelve Months	No. of Investment Positions	Unrealized Losses for More than Twelve Months	No. of Investment Positions	Total Unrealized Loss
At December 31, 2014
Redeemable Preferred Stock	$ -	0	$ -	0	$ -
Obligations of States and
Political Subdivisions	-	0	5,278	1	5,278
Corporate Securities	548,310	21	432,047	11	980,357
Mortgage and other
asset-backed securities	3,966	1	7,928	0	11,894
Total unrealized losses	$ 552,276	22	$ 445,253	12	$ 997,529
Fair Value	$ 7,081,352		$2,777,587		$9,858,939

At December 31, 2013
Redeemable Preferred Stock	$ 5,900	1	$ -	0	$ 5,900
Obligations of States and
Political Subdivisions	7,131	1	2,273	1	9,404
Corporate Securities	1,134,415	72	260,504	10	1,394,919
Mortgage and other
asset-backed securities	3,109	1	8,242	1	11,351
Total unrealized losses	$ 1,150,555	75	$ 271,019	12	$1,421,574
Fair Value	$22,002,277		$2,308,464		$24,310,741

Equity Securities

Schedule of Unrealized Loss on Investments

	Unrealized Losses for Less than Twelve Months	No. of Investment Positions	Unrealized Losses for More than Twelve Months	No. of Investment Positions	Total Unrealized Losses
At December 31, 2014
Industrial, miscellaneous and all other	$ 327,389	138	$ 492,744	27	$ 820,133
Total unrealized losses	$ 327,389	138	$ 492,744	27	$ 820,133
Fair Value	$2,162,425		$ 676,706		$2,839,131

At December 31, 2013
Industrial, miscellaneous and all other	$ 119,449	28	$ 405,936	28	$ 525,386
Total unrealized losses	$ 119,449	28	$ 405,936	28	$ 525,386
Fair Value	$ 993,612		$ 772,345		$1,765,957

Note 2: Investments: Investments Classified by Contractual Maturity Date (Tables)

12 Months Ended

Dec. 31, 2014

Held-to-maturity Securities

Investments Classified by Contractual Maturity Date

	Amortized	Estimated Fair
	Cost	Value
Held to Maturity:
Due in 2015	$ 4,961,596	$ 5,075,769
Due in 2016 through 2019	33,920,182	37,561,840
Due in 2020 through 2024	25,074,149	27,690,447
Due after 2024	66,187,191	75,238,571
Mortgage-backed securities	4,263,206	4,556,693
Redeemable preferred stock	612,023	634,055
Total held to maturity	$ 135,018,347	$ 150,757,375

Available-for-sale Securities

Investments Classified by Contractual Maturity Date

		Estimated Fair
	Cost	Value
Available for Sale:
Common stock	$ 7,179,010	$ 6,752,750
Total available for sale	$ 7,179,010	$ 6,752,750

Note 2: Investments: Gain (Loss) on Investments (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Gain (Loss) on Investments

	2014	2013	2012
Fixed maturity securities held
to maturity:
Gross realized gains	$ 390,203	$ 97,238	$ 470,874
Gross realized losses	(71,800)	(41,164)	(3,875)
Other than temporary impairments	(120,000)	(120,000)	(165,000)

Securities available for sale:
Gross realized gains	349,207	540,990	392,033
Gross realized losses	(55,222)	(2,678)	(5,705)
Other than temporary impairments	(44,240)	(100,304)	(247,317)

Other assets:
Gross realized gains	1,445,596	824,203	794,346
Gross realized losses	(139,808)	(538)	(223,163)
Other than temporary impairments	-	(115,922)	(795,315)
Total	$ 1,753,936	$ 1,081,825	$ 216,878

- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

+ References + Details

Note 2: Investments: Schedule of Major categories of net investment income (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Major categories of net investment income

	2014	2013	2012
Fixed maturity securities	$ 8,229,451	$ 8,265,949	$ 7,731,051
Equity securities	212,917	210,491	264,063
Mortgage loans on real estate	7,550,110	4,666,910	5,543,777
Real estate	8,433,895	6,658,185	4,927,128
Policy, student and other loans	741,220	799,703	830,683
Short-term investments, principally gains on sale of mortgage loans	12,397,382	8,952,584	8,716,257
Gross investment income	37,564,975	29,553,822	28,012,959
Investment expenses	(9,261,235)	(9,199,820)	(6,097,382)
Net investment income	$ 28,303,740	$ 20,354,002	$ 21,915,577

Note 2: Investments: The Following Is A Summary of The Allowance For Loan Losses As A Contra-asset Account For The Periods Presented (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

The Following Is A Summary of The Allowance For Loan Losses As A Contra-asset Account For The Periods Presented:

Allowance for Credit Losses and Recorded Investment in Mortgage Loans
For the Years Ended December 31, 2014, and 2013

	Commercial	Residential	Residential Construction	Total
2014
Allowance for credit losses:
Beginning balance	$ 187,129	$ 1,364,847	$ 100,114	$ 1,652,090
Charge-offs	-	(38,444)	-	(38,444)
Provision	-	389,409	-	389,409
Ending balance	$ 187,129	$ 1,715,812	$ 100,114	$ 2,003,055

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

Ending balance: collectively evaluated for impairment	$ 187,129	$ 1,562,366	$ 100,114	$ 1,849,609

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

Mortgage loans:
Ending balance	$ 35,388,756	$ 53,592,433	$ 33,071,938	$ 122,053,127

Ending balance: individually evaluated for impairment	$ -	$ 1,556,182	$ 414,499	$ 1,970,681

Ending balance: collectively evaluated for impairment	$ 35,388,756	$ 52,036,251	$ 32,657,439	$ 120,082,446

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

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

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

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

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

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

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

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

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

Note 2: Investments: Schedule of aging of mortgage loans (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of aging of mortgage loans

Age Analysis of Past Due Mortgage Loans
Years Ended December 31, 2014 and 2013

	30-59 Days Past Due	60-89 Days Past Due	Greater Than 90 Days 1)	In Foreclosure 1)	Total Past Due	Current	Total Mortgage Loans	Allowance for Loan Losses	Net Mortgage Loans
2014
Commercial	$ -	$ -	$ -	$ -	$ -	$ 35,388,756	$ 35,388,756	$ (187,129)	$ 35,201,627
Residential	1,631,142	1,174,516	5,464,901	1,556,182	9,826,741	43,765,692	53,592,433	(1,715,812)	51,876,621
Residential Construction	-	-	64,895	414,499	479,394	32,592,544	33,071,938	(100,114)	32,971,824

Total	$ 1,631,142	$ 1,174,516	$ 5,529,796	$ 1,970,681	$ 10,306,135	$ 111,746,992	$ 122,053,127	$ (2,003,055)	$ 120,050,072

2013
Commercial	$ -	$ -	$ -	$ 4,973,745	$ 4,973,745	$ 36,679,264	$ 41,653,009	$ (187,129)	$ 41,465,880
Residential	1,646,953	1,604,847	5,867,501	1,518,327	10,637,628	39,230,858	49,868,486	(1,364,847)	48,503,639
Residential Construction	-	-	64,895	-	64,895	12,847,578	12,912,473	(100,114)	12,812,359

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

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

Note 2: Investments: Schedule of Impaired Mortgage Loans (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Impaired Mortgage Loans

Impaired Loans
For the Years Ended December 31, 2014, and 2013

	Recorded Investment	Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
2014
With no related allowance recorded:
Commercial	$ -	$ -	$ -	$ -	$ -
Residential	-	-	-	-	-
Residential construction	414,499	414,499	-	414,499	-

With an allowance recorded:
Commercial	$ -	$ -	$ -	$ -	$ -
Residential	1,556,182	1,556,182	153,446	1,556,182	-
Residential construction	-	-	-	-	-

Total:
Commercial	$ -	$ -	$ -	$ -	$ -
Residential	1,556,182	1,556,182	153,446	1,556,182	-
Residential construction	414,499	414,499	-	414,499	-

2013
With no related allowance recorded:
Commercial	$ -	$ -	$ -	$ -	$ -
Residential	-	-	-	-	-
Residential construction	-	-	-	-	-

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

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

Note 2: Investments: The Company's Performing and Non-performing Mortgage Loans Were As Follows (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

The Company's Performing and Non-performing Mortgage Loans Were As Follows:

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

Mortgage Loan Credit Exposure
Credit Risk Profile Based on Payment Activity
As of December 31, 2014, and 2013

	Commercial		Residential		Residential Construction		Total
	2014	2013	2014	2013	2014	2013	2014	2013

Performing	$ 35,388,756	$ 36,679,264	$ 46,571,350	$ 42,482,658	$ 32,592,544	$ 12,847,578	$ 114,552,650	$ 92,009,500
Non-performing	-	4,973,745	7,021,083	7,385,828	479,394	64,895	7,500,477	12,424,468

Total	$ 35,388,756	$ 41,653,009	$ 53,592,433	$ 49,868,486	$ 33,071,938	$ 12,912,473	$ 122,053,127	$ 104,433,968

Note 2: Investments: Schedule of Mortgate loans on a nonaccrual status (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Mortgate loans on a nonaccrual status

	Mortgage Loans on Non-accrual Status
	As of December 31, 2014, and 2013

	2014	2013
Commercial	$ -	$ 4,973,745
Residential	7,021,083	7,385,828
Residential construction	479,394	64,895
Total	$ 7,500,477	$ 12,424,468

Note 2: Investments: Schedule of Principal amounts due on mortgage loans on real estate and construction loans held for investment by category (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Principal amounts due on mortgage loans on real estate and construction loans held for investment by category

		Principal	Principal	Principal
		Amounts	Amounts	Amounts
		Due in	Due in	Due
	Total	2015	2016-2019	Thereafter
Residential	$ 53,592,433	$ 3,748,893	$ 17,225,255	$ 32,618,285
Residential Construction	33,071,938	32,648,470	423,468	-
Commercial	35,388,756	18,652,738	13,279,688	3,456,330
Total	$ 122,053,127	$ 55,050,101	$ 30,928,411	$ 36,074,615

Note 2: Investments: Schedule of loan loss reserve which is included in other liabilities and accrued expenses (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of loan loss reserve which is included in other liabilities and accrued expenses

	Years Ended December 31
	2014	2013
Balance, beginning of period	$ 5,506,532	$ 6,035,295
Provisions for losses	3,053,403	1,846,285
Charge-offs and settlements	(6,841,785)	(2,375,048)
Balance, at December 31	$ 1,718,150	$ 5,506,532

Note 3: Receivables: Schedule of Receivables (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Receivables

Receivables consist of the following:

	Years Ended December 31
	2014	2013
Trade contracts	$ 12,166,838	$ 9,993,755
Receivables from sales agents	1,951,677	994,056
Held in Escrow – Southern Security	278,331	312,167
Other	1,428,106	1,601,227
Total receivables	15,824,952	12,901,205
Allowance for doubtful accounts	(1,280,859)	(1,248,633)
Net receivables	$ 14,544,093	$ 11,652,572

Note 4: Value of Business Acquired: Schedule of Value of Business Acquired (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Value of Business Acquired

	December 31
	2014	2013	2012
Balance at beginning of year	$ 8,680,845	$ 9,829,082	$ 10,996,050
Value of business acquired	1,169,428	192,035	48,190
Imputed interest at 7%	591,412	647,848	728,880
Amortization	(1,894,058)	(1,988,120)	(1,944,038)
Net amortization charged to income	(1,302,646)	(1,340,272)	(1,215,158)
Balance at end of year	$ 8,547,627	$ 8,680,845	$ 9,829,082

Note 5: Property and Equipment: Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Property, Plant and Equipment

	December 31
	2014	2013
Land and buildings	$ 11,904,100	$ 12,482,082
Furniture and equipment	15,822,957	14,301,713
	27,727,057	26,783,795
Less accumulated depreciation	(16,419,343)	(15,260,635)
Total	$ 11,307,714	$ 11,523,160

Note 6: Bank and Other Loans Payable: Summary of Bank Loans Payable (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Summary of Bank Loans Payable

	December 31
	2014	2013
6.34% note payable in monthly installments of $13,556 including principal and interest, collateralized by real property with a book value of approximately $498,000, due November 2017.	$ 466,937	$ 612,068

5.75% note payable in monthly installments of $28,271 including principal and interest, collateralized by real property with a book value of approximately $5,890,000 due March 2015.	3,398,099	3,509,944

Mark to market of interest rate swaps (discussed below) adjustment	31,370	58,310

3.85% note payable in monthly installments of $79,468 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due June 2015.	461,889	1,377,925

3.85% note payable in monthly installments of $86,059 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due December 2017.	2,994,999	3,891,926

4.40% note payable in monthly installments of $46,825 including principal and interest, collateralized by real property with a book value of approximately $12,450,000 due January 2026.	8,333,550	8,500,000

2.75% above the 90-day LIBOR rate (3.0052% at December 31, 2014) construction and term loan payable, collateralized by real property with a book value of approximately $22,855,000 due July 2017.	13,085,189	-

Other collateralized bank loans payable	247,384	338,304
Other notes payable	961	961
Total bank and other loans	29,020,378	18,289,438

Less current installments	5,248,043	5,849,926
Bank and other loans, excluding current installments	$ 23,772,335	$ 12,439,512

Note 6: Bank and Other Loans Payable: Schedule of combined maturities of bank loans payable, lines of credit and notes and contracts payable (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of combined maturities of bank loans payable, lines of credit and notes and contracts payable

The following tabulation shows the combined maturities of bank loans payable, lines of credit and notes and contracts payable:

2015	$ 5,248,043
2016	1,395,942
2017	14,586,183
2018	246,769
2019	246,336
Thereafter	7,297,105
Total	$ 29,020,378

Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds: Schedule of the components of the cemetery perpetual care obligation (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of the components of the cemetery perpetual care obligation

	December 31
	2014	2013
Trust investments, at market value	$ 2,645,423	$ 2,414,883
Note receivables from Cottonwood Mortuary
Singing Hills Cemetery and Memorial Estates - Pinehill
eliminated in consolidation	1,847,892	1,881,565
Total trust assets	4,493,315	4,296,448
Cemetery perpetual care obligation	(3,406,718)	(3,266,131)
Fair value of trust assets in excess of trust obligations	$ 1,086,597	$ 1,030,317

Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds: Schedule of Restricted Assets in Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Restricted Assets in Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds

	December 31
	2014	2013
Cash and cash equivalents	$ 7,274,685	$ 4,746,417
Mutual funds	627,154	582,163
Fixed maturity securities	8,775	8,775
Equity securities	88,048	84,986
Participating in mortgage loans with Security National Life	1,349,135	1,248,639
Total	$ 9,347,797	$ 6,670,980

Note 8: Income Taxes: Summary of Income Tax Liability (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Summary of Income Tax Liability

	December 31	December 31
	2014	2013
Current	$ (333,350)	$ (1,578,071)
Deferred	20,755,117	17,529,919
Total	$ 20,421,767	$ 15,951,848

Note 8: Income Taxes: Schedule of components of Deferred Tax Liabilities (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of components of Deferred Tax Liabilities

	December 31
	2014	2013
Assets
Future policy benefits	$ (6,856,001)	$ (5,381,385)
Loan loss reserve	(670,078)	(2,147,547)
Unearned premium	(1,687,059)	(1,759,087)
Available for sale securities	(125,797)	(566,316)
Net operating loss	(1,738,137)	(873,412)
Deferred compensation	(1,279,860)	(1,057,551)
Deposit obligations	(1,018,313)	(1,043,964)
Other	(1,398,152)	(1,287,773)
Less: Valuation allowance	5,276,431	5,593,063
Total deferred tax assets	(9,496,966)	(8,523,972)

Liabilities
Deferred policy acquisition costs	12,271,954	10,914,618
Basis difference in property and equipment	7,049,551	6,242,266
Value of business acquired	2,906,193	2,951,487
Deferred gains	5,472,003	3,545,692
Trusts	1,599,657	1,599,657
Tax on unrealized appreciation	952,725	800,171
Total deferred tax liabilities	30,252,083	26,053,891
Net deferred tax liability	$ 20,755,117	$ 17,529,919

Note 8: Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Components of Income Tax Expense (Benefit)

	2014	2013	2012
Current	$ 1,653,663	$ 1,821,539	$ 2,707,962
Deferred	3,072,642	416,267	1,930,813
Total	$ 4,726,305	$ 2,237,806	$ 4,638,775

Note 8: Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Effective Income Tax Rate Reconciliation

	2014	2013	2012
Computed expense at statutory rate	$ 4,243,524	$ 3,340,067	$ 7,472,953
Tax audit settlements	-	20,371	-
Other, net	482,781	(1,122,632)	(2,834,178)
Tax expense (benefit)	$ 4,726,305	$ 2,237,806	$ 4,638,775

Note 9: Reinsurance, Commitments and Contingencies: Schedule of Future Minimum Rental Payments for Operating Leases (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Future Minimum Rental Payments for Operating Leases

Years Ending
December 31
2015	$ 4,299,185
2016	3,610,599
2017	2,835,947
2018	1,188,581
2019	563,956
Total	$ 12,498,268

Note 11: Capital Stock: Schedule of Activity in shares of capital stock (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Activity in shares of capital stock

	Class A	Class C (1)
Balance at December 31, 2011	9,638,798	1,013,598

Exercise of stock options	685,753	31,891
Stock dividends	518,702	52,244
Conversion of Class C to Class A	323	(323)

Balance at December 31, 2012	10,843,576	1,097,410

Exercise of stock options	359,786	211,211
Stock dividends	562,152	63,342
Conversion of Class C to Class A	41,773	(41,773)

Balance at December 31, 2013	11,807,287	1,330,191

Exercise of stock options	54,412	-
Stock dividends	595,020	66,384
Reverse stock split true up		15
Conversion of Class C to Class A	2,521	(2,521)

Balance at December 31, 2014	12,459,240	1,394,069

Note 11: Capital Stock: Schedule of Basic and diluted earnings per share (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Basic and diluted earnings per share

	2014	2013	2012
Numerator:
Net earnings	$ 7,754,648	$ 7,585,921	$ 16,712,518

Denominator:
Denominator for basic earnings
per share-weighted-average shares	12,518,743	12,366,029	11,427,568

Effect of dilutive securities
Employee stock options	409,266	615,547	599,281
Dilutive potential common shares	409,266	615,547	599,281

Denominator for diluted earnings (loss)
per share-adjusted weighted-average
shares and assumed conversions	12,928,009	12,981,576	12,026,849

Basic earnings per share	$0.62	$0.61	$1.46
Diluted earnings per share	$0.60	$0.58	$1.39

Note 12: Stock Compensation Plans: Schedule of Activity of the 2003 Plan (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Activity of the 2003 Plan

Activity of the stock option plans is summarized as follows:
	Number of Class A Shares	Weighted Average Exercise Price	Number of Class C Shares	Weighted Average Exercise Price
Outstanding at December 31, 2011	1,996,543	$ 2.40	361,028	$ 2.38
Adjustment for the effect of stock dividends	43,928		24,515
Granted	347,000		-
Exercised	(1,041,276)		(52,500)
Cancelled	(123,134)		-
Reclass from A to C	(250,808)		250,808

Outstanding at December 31, 2012	972,253	$ 2.07	583,851	$ 2.18
Adjustment for the effect of stock dividends	17,962		24,222
Granted	81,960		50,000
Exercised	(485,366)		(190,602)
Cancelled	(76,676)		(63,814)
Reclass from A to C	(105,000)		105,000

Outstanding at December 31, 2013	405,133	$ 2.41	508,657	$ 2.00
Adjustment for the effect of stock dividends	24,446		32,934
Granted	173,500		150,000
Exercised	(59,713)		-
Cancelled	(30,571)		-

Outstanding at December 31, 2014	512,795	$ 3.20	691,591	$ 2.54

Exercisable at end of year	343,987	$ 2.50	547,216	$ 2.00

Available options for future grant	265,198		-

Weighted average contractual term of options
outstanding at December 31, 2014	7.70 years		3.42 years

Weighted average contractual term of options
exercisable at December 31, 2014	6.65 years		1.79 years

Aggregated intrinsic value of options outstanding
at December 31, 2014 (1)	$1,042,682		$1,856,886

Aggregated intrinsic value of options exercisable
at December 31, 2014 (1)	$940,079		$1,780,498

(1) The Company used a stock price of $5.22 as of December 31, 2014 to derive intrinsic value.

Note 13: Statutory Financial Information and Dividend Limitations: Schedule of statutory accounting practices (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of statutory accounting practices

	Net Income			Capital and Surplus
	2014	2013	2012	2014	2013
Amounts by insurance subsidiary:
Security National Life Insurance Company	$ 5,137,208	$ 1,283,311	$ 391,533	$ 34,356,157	$ 29,597,289

Memorial Insurance Company of America	415	237	159	1,082,587	1,083,237

Southern Security Life Insurance Company, Inc.	467	1,288	184	1,590,424	1,586,832

Trans-Western Life Insurance Company	1,304	1,906	2,113	499,182	497,878

Total	$ 5,139,394	$ 1,286,742	$ 393,989	$ 37,528,350	$ 32,765,236

Note 14: Business Segment Information: Schedule of Segment Reporting Information, by Segment (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Segment Reporting Information, by Segment

	2014
	Life	Cemetery/		Reconciling
	Insurance	Mortuary	Mortgage	Items	Consolidated
Revenues:
From external sources:
Revenue from customers	$ 57,037,623	$ 11,426,308	$ 124,668,054	$ -	$ 193,131,985
Net investment income	23,008,489	275,324	5,019,927	-	28,303,740
Realized gains (losses) on
investments and other assets	1,208,391	585,543	124,242	-	1,918,176
Other than temporary impairments	(164,240)	-	-	-	(164,240)
Other revenues	682,682	169,464	2,894,867	-	3,747,013
Intersegment revenues:
Net investment income	6,128,389	1,288,856	642,880	(8,060,125)	-
Total revenues	87,901,334	13,745,495	133,349,970	(8,060,125)	226,936,674
Expenses:
Death and other policy benefits	29,789,964	-	-	-	29,789,964
Increase in future policy benefits	18,060,151	-	-	-	18,060,151
Amortization of deferred policy and preneed acquisition costs and
value of business acquired	6,561,589	331,389	-	-	6,892,978
Depreciation	644,510	436,390	1,096,265	-	2,177,165
General, administrative and
other costs:
Intersegment	24,000	166,079	208,513	(398,592)	-
Provision for loan losses	-	-	3,053,403	-	3,053,403
Costs related to funding mortgage
loans	-	-	6,877,069	-	6,877,069
Other	23,045,928	10,245,144	111,319,492	(2)	144,610,562
Interest expense:
Intersegment	725,354	1,481,317	5,454,860	(7,661,531)	-
Other	578,083	421,920	1,994,426	-	2,994,429
Total benefits and expenses	79,429,579	13,082,239	130,004,028	(8,060,125)	214,455,721
Earnings before income taxes	$ 8,471,755	$ 663,256	$ 3,345,942	$ -	$ 12,480,953
Income tax expense	(3,427,254)	-	(1,299,051)	-	(4,726,305)
Net earnings	$ 5,044,501	$ 663,256	$ 2,046,891	$ -	$ 7,754,648

Identifiable assets	$ 652,348,803	$ 109,114,226	$ 52,349,204	$ (142,742,671)	$ 671,069,562

Goodwill	$ 2,765,570	$ -	$ -	$ -	$ 2,765,570

Expenditures for long-lived assets	$ 1,420,950	$ 121,677	$ 737,936	$ -	$ 2,280,563

	2013
	Life	Cemetery/		Reconciling
	Insurance	Mortuary	Mortgage	Items	Consolidated
Revenues:
From external sources:
Revenue from customers	$ 51,322,567	$ 12,000,375	$ 127,950,021	$ -	$ 191,272,963
Net investment income	15,877,784	268,923	4,207,295	-	20,354,002
Realized gains (losses) on
investments and other assets	1,402,352	15,699	-	-	1,418,051
Other than temporary impairments	(336,226)	-	-	-	(336,226)
Other revenues	538,009	94,703	1,973,518	-	2,606,230
Intersegment revenues:
Net investment income	7,220,282	1,356,825	262,074	(8,839,181)	-
Total revenues	76,024,768	13,736,525	134,392,908	(8,839,181)	215,315,020
Expenses:
Death and other policy benefits	28,534,936	-	-	-	28,534,936
Increase in future policy benefits	19,594,890	-	-	-	19,594,890
Amortization of deferred policy and preneed acquisition costs and
value of business acquired	4,811,300	370,537	-	-	5,181,837
Depreciation	401,893	426,641	792,535	-	1,621,069
General, administrative and
other costs:
Intersegment	24,000	141,367	199,193	(364,560)	-
Provision for loan losses	-	-	1,751,472	-	1,751,472
Costs related to funding mortgage
loans	-	-	6,635,290	-	6,635,290
Other	18,753,753	10,467,717	110,096,627	1	139,318,098
Interest expense:
Intersegment	802,352	1,664,096	6,008,174	(8,474,622)	-
Other	233,343	443,133	2,177,225	-	2,853,701
Total benefits and expenses	73,156,467	13,513,491	127,660,516	(8,839,181)	205,491,293
Earnings before income taxes	$ 2,868,301	$ 223,034	$ 6,732,392	$ -	$ 9,823,727
Income tax (expense) benefit	399,304	-	(2,637,110)	-	(2,237,806)
Net earnings	$ 3,267,605	$ 223,034	$ 4,095,282	$ -	$ 7,585,921

Identifiable assets	$ 591,465,834	$ 114,454,631	$ 50,250,677	$ (137,413,688)	$ 618,757,454

Goodwill	$ 391,848	$ 285,191	$ -	$ -	$ 677,039

Expenditures for long-lived assets	$ 659,259	$ 1,100,195	$ 1,810,879	$ -	$ 3,570,333

	2012
	Life	Cemetery/		Reconciling
	Insurance	Mortuary	Mortgage	Items	Consolidated
Revenues:
From external sources:
Revenue from customers	$ 49,550,904	$ 10,864,497	$ 150,553,261	$ -	$ 210,968,662
Net investment income	16,616,541	333,625	4,965,411	-	21,915,577
Realized gains (losses) on
investments and other assets	1,415,556	8,954	-	-	1,424,510
Other than temporary impairments	(1,207,632)	-	-	-	(1,207,632)
Other revenues	482,325	136,189	540,538	-	1,159,052
Intersegment revenues:
Net investment income	7,570,979	1,435,891	294,980	(9,301,850)	-
Total revenues	74,428,673	12,779,156	156,354,190	(9,301,850)	234,260,169
Expenses:
Death and other policy benefits	24,246,088	-	-	-	24,246,088
Increase in future policy benefits	21,435,191	-	-	-	21,435,191
Amortization of deferred policy and preneed acquisition costs and
value of business acquired	5,137,586	311,843	-	-	5,449,429
Depreciation	315,960	426,006	516,131	-	1,258,097
General, administrative and
other costs:
Intersegment	24,000	102,726	137,696	(264,422)	-
Provision for loan losses	-	-	4,239,418	-	4,239,418
Costs related to funding mortgage
loans	-	-	6,931,045	-	6,931,045
Other	17,824,800	9,582,499	118,198,014	2	145,605,315
Interest expense:
Intersegment	694,442	1,681,987	6,661,001	(9,037,430)	-
Other	159,659	455,449	3,129,185	-	3,744,293
Total benefits and expenses	69,837,726	12,560,510	139,812,490	(9,301,850)	212,908,876
Earnings before income taxes	$ 4,590,947	$ 218,646	$ 16,541,700	$ -	$ 21,351,293
Income tax (expense) benefit	1,755,258	-	(6,394,033)	-	(4,638,775)
Net earnings	$ 6,346,205	$ 218,646	$ 10,147,667	$ -	$ 16,712,518

Identifiable assets	$ 558,845,424	$ 116,368,747	$ 55,613,678	$ (133,611,226)	$ 597,216,623

Goodwill	$ 391,848	$ 285,191	$ -	$ -	$ 677,039

Expenditures for long-lived assets	$ 400,605	$ 689,154	$ 2,131,861	$ -	$ 3,221,620

Note 16: Fair Value of Financial Instruments: Schedule of fair value assets and liabilities measured on a recurring basis (Tables)

12 Months Ended

Dec. 31, 2014

AsOfDecember312014Member

Schedule of fair value assets and liabilities measured on a recurring basis

	Total	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Assets accounted for at fair value on a recurring basis
Common stock	$ 6,752,750	$ 6,752,750	$ -	$ -
Total securities available for sale	6,752,750	6,752,750	-	-
Restricted assets of cemeteries and mortuaries	715,202	715,202	-	-
Cemetery perpetual care trust investments	695,235	695,235	-	-
Derivatives - interest rate lock commitments	2,111,529	-	-	2,111,529

Total assets accounted for at fair value on a recurring basis	$ 10,274,716	$ 8,163,187	$ -	$ 2,111,529

Liabilities accounted for at fair value on a recurring basis
Policyholder account balances	$ (45,310,699)	$ -	$ -	$ (45,310,699)
Future policy benefits - annuities	(65,540,985)	-	-	(65,540,985)
Derivatives - bank loan interest rate swaps	(31,370)	-	-	(31,370)
- call options	(116,036)	(116,036)	-	-
- put options	(11,867)	(11,867)
- interest rate lock commitments	(181,678)	-	-	(181,678)

Total liabilities accounted for at fair value on a recurring basis	$ (111,192,635)	$ (127,903)	$ -	$ (111,064,732)

As Of December 31 2013

Schedule of fair value assets and liabilities measured on a recurring basis

	Total	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Assets accounted for at fair value on a recurring basis
Non-redeemable preferred stock
Common stock	$ 4,498,756	$ 4,498,756	$ -	$ -
Total securities available for sale	4,498,756	4,498,756	-	-
Restricted assets of cemeteries and mortuaries	667,149	667,149	-	-
Cemetery perpetual care trust investments	695,616	695,616	-	-
Derivatives - interest rate lock commitments	1,511,111	-	-	1,511,111
Total assets accounted for at fair value on a recurring basis	$ 7,372,632	$ 5,861,521	$ -	$ 1,511,111

Liabilities accounted for at fair value on a recurring basis
Policyholder account balances	$ (48,000,668)	$ -	$ -	$ (48,000,668)
Future policy benefits - annuities	(65,052,928)	-	-	(65,052,928)
Derivatives - bank loan interest rate swaps	(58,310)	-	-	(58,310)
- call options	(124,174)	(124,174)	-	-
- interest rate lock commitments	(23,203)	-	-	(23,203)
Total liabilities accounted for at fair value on a recurring basis	$ (113,259,283)	$ (124,174)	$ -	$ (113,135,109)

Note 16: Fair Value of Financial Instruments: Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs (Tables)

12 Months Ended

Dec. 31, 2014

As Of December 31 2013

Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs

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

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

Total Losses (Gains):

Included in earnings	2,689,969	(488,057)	-	-

Included in other
comprehensive income (loss)	-	-	441,943	26,940

Balance - December 31, 2014	$ (45,310,699)	$ (65,540,985)	$ 1,929,851	$ (31,370)

AsOfDecember312012Member

Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs

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

Balance - December 31, 2012	$ (49,746,337)	$ (65,171,687)	$ 2,961,465	$ (93,572)

Total Losses (Gains):

Included in earnings	1,745,669	118,759	-	-

Included in other comprehensive income (loss)	-	-	(1,473,557)	35,262

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

Note 16: Fair Value of Financial Instruments: Fair Value Assets Measured on a Nonrecurring Basis (Tables)

12 Months Ended

Dec. 31, 2014

AsOfDecember312014Member

Fair Value Assets Measured on a Nonrecurring Basis

	Total	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Assets accounted for at fair value on a nonrecurring basis
Mortgage servicing rights	$ 3,741,381	$ -	$ -	$ 3,741,381
Real estate held for investment	53,500	-	-	53,500

Total assets accounted for at fair value on a nonrecurring basis	$ 3,794,881	$ -	$ -	$ 3,794,881

As Of December 31 2013

Fair Value Assets Measured on a Nonrecurring Basis

	Total	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Assets accounted for at fair value on a nonrecurring basis
Mortgage servicing rights	$ 2,494,254	$ -	$ -	$ 2,494,254
Mortgage loans on real estate	89,000	-	-	89,000
Real estate held for investment	660,784	-	-	660,784
Total assets accounted for at fair value on a nonrecurring basis	$ 3,244,038	$ -	$ -	$ 3,244,038

Note 16: Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Financial Instruments Carried at Other Than Fair Value

	Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
Assets
Mortgage loans:
Residential	$ 51,876,621	$ -	$ -	$ 55,247,638	$ 55,247,638
Residential construction	32,971,824	-	-	32,971,824	32,971,824
Commercial	35,201,627	-	-	36,829,266	36,829,266
Mortgage loans, net	$ 120,050,072	$ -	$ -	$ 125,048,728	$ 125,048,728
Policy loans	7,011,012	-	-	7,011,012	7,011,012
Other loans	27,114,416	-	-	27,114,416	27,114,416
Short-term investments	27,059,495	-	-	27,059,495	27,059,495

Liabilities
Bank and other loans payable	$ (28,989,008)	$ -	$ -	$ (28,989,008)	$ (28,989,008)

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

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

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

Note 17: Accumulated Other Comprehensive Income: Schedule of Changes in accumulated other comprehensive income (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Changes in accumulated other comprehensive income

	December 31
	2014	2013
Unrealized losses on available for-sale securities	$ (390,143)	$ (12,299)
Reclassification adjustment for net realized gains in net income	293,985	538,311
Net unrealized gains (losses) before taxes	(96,158)	526,012
Tax (expense) benefit	30,310	(221,221)
Net	(65,848)	304,791
Potential unrealized gains for derivative bank loans (interest rate swaps) before taxes	26,940	35,262
Tax expense	(10,507)	(9,073)
Net	16,433	26,189
Potential unrealized gains (losses) for derivative mortgage loans before taxes	441,943	(1,473,557)
Tax (expense) benefit	(172,358)	426,614
Net	269,585	(1,046,943)
Other comprehensive income (loss) changes	$ 220,170	$ (715,963)

Note 17: Accumulated Other Comprehensive Income: Accumulated Balances of Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2014

AsOfDecember312014Member

Accumulated Balances of Other Comprehensive Income

	Beginning Balance December 31, 2013	Change for the period	Ending Balance December 31, 2014
Unrealized net gains on available-for-sale securities and trust investments	$ 346,341	$ (65,848)	$ 280,493

Unrealized gains (losses) on derivative mortgage loans	907,624	269,585	1,177,209

Unrealized gains (losses) on derivative bank loan interest rate swaps	(35,569)	16,433	(19,136)
Other comprehensive income	$ 1,218,396	$ 220,170	$ 1,438,566

As Of December 31 2013

Accumulated Balances of Other Comprehensive Income

	Beginning Balance December 31, 2012	Change for the period	Ending Balance December 31, 2013
Unrealized net gains on available-for-sale securities and trust investments	$ 41,550	$ 304,791	$ 346,341

Unrealized gains (losses) on derivative mortgage loans	1,954,567	(1,046,943)	907,624

Unrealized gains (losses) on derivative bank loan interest rate swaps	(61,758)	26,189	(35,569)
Other comprehensive income	$ 1,934,359	$ (715,963)	$ 1,218,396

Note 18: Derivative Commitments: Schedule of Derivative Assets at Fair Value (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Derivative Assets at Fair Value

Fair Value of Derivative Instruments

Asset Derivatives

Liability Derivatives

December 31, 2014

December 31, 2013

December 31, 2014

December 31, 2013

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Derivatives designated as hedging instruments:

Interest rate lock and forward sales commitments

other assets

$2,111,529

other assets

$1,511,111

Other liabilities

$181,678

Other liabilities

$ 23,203

Call Options

Other liabilities

116,036

Other liabilities

124,174

Put Options

Other liabilities

11,867

Other liabilities

Interest rate swaps

Bank loans payable

31,370

Bank loans payable

58,310

Total

$2,111,529

$1,511,111

$340,951

$205,687

Note 18: Derivative Commitments: Schedule of Gains and Losses on Derivatives (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Gains and Losses on Derivatives

	Net Amount Gain (Loss) Recognized in OCI
	Years ended December 31
Derivative - Cash Flow Hedging Relationships:	2014	2013
Interest Rate Lock Commitments	$ 441,943	$ (1,473,557)
Interest Rate Swaps	26,940	35,262
Sub Total	468,883	(1,438,295)
Tax Effect	182,865	(417,541)
Total	$ 286,018	$ (1,020,754)

Note 19: Acquisitions: The Estimated Fair Values of The Assets Acquired and The Liabilities Assumed At The Date of Acquisition (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

The Estimated Fair Values of The Assets Acquired and The Liabilities Assumed At The Date of Acquisition

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

Note 19: Acquisitions: Acquisition of Trans-Western Pro Forma (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Acquisition of Trans-Western Pro Forma

	For the Year Ended December 31 (unaudited)
	2014	2013	2012
Total revenues	$ 229,268,653	$ 220,011,370	$ 236,854,910
Net earnings	$ 7,996,405	$ 7,963,589	$ 16,576,647
Net earnings per Class A equivalent common share	$ 0.64	$ 0.64	$ 1.45
Net earnings per Class A equivalent common share
assuming dilution	$ 0.62	$ 0.61	$ 1.38

Note 20: Mortgage Servicing Rights: Schedule of mortgage servicing rights (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of mortgage servicing rights

	December 31 2013
	2014	2013
Amortized cost:
Balance before valuation allowance at beginning of year	$ 4,844,101	$ 2,797,470
MSRs received as proceeds from loan sales	3,741,381	2,494,254
Amortization	(750,735)	(447,623)
Application of valuation allowance to write down MSRs with other than temporary impairment	-	-
Balance before valuation allowance at year end	$ 7,834,747	$ 4,844,101

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

Mortgage servicing rights, net	$ 7,834,747	$ 4,844,101

Estimated fair value of MSRs at year end	$ 8,485,570	$ 5,491,270

Note 20: Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights Amortization (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Mortgage Servicing Rights Amortization

		Estimated MSR Amortization
2015		$ 870,527
2016		870,527
2017		870,527
2018		870,527
2019		870,527
Thereafter		3,482,112
Total		$ 7,834,747

Note 21: Quarterly Financial Data (unaudited): Schedule of Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Quarterly Financial Information

	2014
	Three Months Ended
	March 31	June 30	September 30	December 31
Revenues	$ 45,053,276	$ 59,411,730	$ 61,725,792	$ 60,745,876
Benefits and expenses	44,887,289	55,224,633	58,348,652	55,995,147
Earnings before income taxes	165,987	4,187,097	3,377,140	4,750,729
Income tax expense	(27,139)	(1,563,034)	(1,239,318)	(1,896,814)
Net earnings	138,848	2,624,063	2,137,822	2,853,915
Net earnings per common share (1)	$0.01	$0.21	$0.17	$0.23
Net earnings per common share assuming dilution (1)	$0.01	$0.20	$0.17	$0.22

	2013
	Three Months Ended
	March 31	June 30	September 30	December 31
Revenues	$ 54,852,234	$ 61,332,289	$ 50,552,791	$ 48,577,706
Benefits and expenses	51,624,611	56,862,769	48,588,507	48,415,406
Earnings before income taxes	3,227,623	4,469,520	1,964,284	162,300
Income tax benefit (expense)	(1,194,357)	(1,670,275)	(697,793)	1,324,619
Net earnings	2,033,266	2,799,245	1,266,491	1,486,919
Net earnings per common share	$0.17	$0.23	$0.10	$0.12
Net earnings per common share assuming dilution	$0.15	$0.21	$0.10	$0.11

	2012
	Three Months Ended
	March 31	June 30	September 30	December 31
Revenues	$ 47,323,223	$ 56,528,210	$ 63,747,903	$ 66,660,833
Benefits and expenses	44,994,631	51,491,833	57,615,608	58,806,804
Earnings before income taxes	2,328,592	5,036,377	6,132,295	7,854,029
Income tax expense	(666,409)	(1,443,345)	(2,142,249)	(386,772)
Net earnings	1,662,183	3,593,032	3,990,046	7,467,257
Net earnings per common share (1)	$0.16	$0.34	$0.37	$0.67
Net earnings per common share assuming dilution (1)	$0.15	$0.32	$0.34	$0.61

Note 2: Investments: Held-to-maturity Securities (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	$ 135,018,347	$ 143,466,494
Held-to-maturity Securities, Unrecognized Holding Gain	16,736,557	11,229,300
Held-to-maturity Securities, Unrecognized Holding Loss	(997,529)	(1,421,574)
HeldToMaturitySecuritiesEstimatedFairValue	150,757,375	153,274,220
US Treasury and Government
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	1,873,146	2,284,261
Held-to-maturity Securities, Unrecognized Holding Gain	345,715	298,901
HeldToMaturitySecuritiesEstimatedFairValue	2,218,861	2,583,162
US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	1,736,489	1,790,661
Held-to-maturity Securities, Unrecognized Holding Gain	221,893	197,340
Held-to-maturity Securities, Unrecognized Holding Loss	(5,278)	(9,404)
HeldToMaturitySecuritiesEstimatedFairValue	1,953,104	1,978,597
Corporate Debt Securities
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	126,533,483	134,257,468
Held-to-maturity Securities, Unrecognized Holding Gain	15,841,536	10,513,448
Held-to-maturity Securities, Unrecognized Holding Loss	(980,357)	(1,394,919)
HeldToMaturitySecuritiesEstimatedFairValue	141,394,662	143,375,997
Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	4,263,206	4,522,081
Held-to-maturity Securities, Unrecognized Holding Gain	305,381	206,617
Held-to-maturity Securities, Unrecognized Holding Loss	(11,894)	(11,351)
HeldToMaturitySecuritiesEstimatedFairValue	4,556,693	4,717,347
Redeemable Preferred Stock
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	612,023	612,023
Held-to-maturity Securities, Unrecognized Holding Gain	22,032	12,994
Held-to-maturity Securities, Unrecognized Holding Loss		(5,900)
HeldToMaturitySecuritiesEstimatedFairValue	$ 634,055	$ 619,117

Note 2: Investments: Available-for-sale Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Mortgage loans on real estate and construction	$ 120,050,072	$ 102,781,878
Mortgage loans on real estate and construction, allowance for losses	(2,003,055)	(1,652,090)
Real estate held for investment, net of depreciation	111,411,351	99,760,475
Policy and other loans at amortized cost	34,125,428	19,724,006
Short-term investments at amortized cost	27,059,495	12,135,719
Residential Mortgage
Mortgage loans on real estate and construction	53,592,433	49,868,486
Residential Construction
Mortgage loans on real estate and construction	33,071,938	12,912,473
Commercial Loan
Mortgage loans on real estate and construction	35,388,756	41,653,009
Policy Loan
Policy and other loans at amortized cost	7,011,012	7,520,376
Other loans
Policy and other loans at amortized cost	27,807,829	12,472,805
Allowance
Policy and other loans at amortized cost	(693,413)	(269,175)
Industrial, miscellaneous and all other equity securities
Available-for-sale Securities, Amortized Cost Basis	7,179,010	4,783,936
Available-for-sale Debt Securities Gross Unrealized Gain	393,873	240,206
Available-for-sale Debt Securities, Gross Unrealized Loss	(820,133)	(525,386)
AvailableForSaleSecuritiesEstimatedFairValue	6,752,750	4,498,756
Equity Securities
Available-for-sale Securities, Amortized Cost Basis	7,179,010	4,783,936
Available-for-sale Debt Securities Gross Unrealized Gain	393,873	240,206
Available-for-sale Debt Securities, Gross Unrealized Loss	(820,133)	(525,386)
AvailableForSaleSecuritiesEstimatedFairValue	$ 6,752,750	$ 4,498,756

Note 2: Investments: Schedule of Unrealized Loss on Investments (Details)	12 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Held-to-maturity Securities, Unrecognized Holding Loss	$ 997,529	$ 1,421,574
Held-to-maturity Securities, Fair Value	9,858,939	24,310,741
Available-for-sale Securities, Fair Value Disclosure	2,839,131	1,765,957
Redeemable Preferred Stock
Held-to-maturity Securities, Unrecognized Holding Loss		5,900
US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	5,278	9,404
Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	980,357	1,394,919
Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	11,894	11,351
Industrial, miscellaneous and all other equity securities
Available-for-sale Debt Securities, Gross Unrealized Loss	820,133	525,386
Equity Securities
Available-for-sale Debt Securities, Gross Unrealized Loss	820,133	525,386
Less than 12 months
Held-to-maturity Securities, Unrecognized Holding Loss	$ 552,276	$ 1,150,555
No. of Investment Positions	22	75
Held-to-maturity Securities, Fair Value	$ 7,081,352	$ 22,002,277
Available-for-sale Securities, Fair Value Disclosure	$ 2,162,425	993,612
Less than 12 months \| Redeemable Preferred Stock
Held-to-maturity Securities, Unrecognized Holding Loss		$ 5,900
No. of Investment Positions	0	1
Less than 12 months \| US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss		$ 7,131
No. of Investment Positions	0	1
Less than 12 months \| Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	$ 548,310	$ 1,134,415
No. of Investment Positions	21	72
Less than 12 months \| Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	$ 3,966	$ 3,109
No. of Investment Positions	1	1
Less than 12 months \| Industrial, miscellaneous and all other equity securities
No. of Investment Positions	138	28
Available-for-sale Debt Securities, Gross Unrealized Loss	$ 327,389	$ 119,449
Less than 12 months \| Equity Securities
No. of Investment Positions	138	28
Available-for-sale Debt Securities, Gross Unrealized Loss	$ 327,389	$ 119,449
More than 12 months
Held-to-maturity Securities, Unrecognized Holding Loss	$ 445,253	$ 271,019
No. of Investment Positions	12	12
Held-to-maturity Securities, Fair Value	$ 2,777,587	$ 2,308,464
Available-for-sale Securities, Fair Value Disclosure	$ 676,706	$ 772,345
More than 12 months \| Redeemable Preferred Stock
No. of Investment Positions	0	0
More than 12 months \| US States and Political Subdivisions Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	$ 5,278	$ 2,273
No. of Investment Positions	1	1
More than 12 months \| Corporate Debt Securities
Held-to-maturity Securities, Unrecognized Holding Loss	$ 432,047	$ 260,504
No. of Investment Positions	11	10
More than 12 months \| Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Unrecognized Holding Loss	$ 7,928	$ 8,242
No. of Investment Positions	0	1
More than 12 months \| Industrial, miscellaneous and all other equity securities
No. of Investment Positions	27	28
Available-for-sale Debt Securities, Gross Unrealized Loss	$ 492,744	$ 405,936
More than 12 months \| Equity Securities
No. of Investment Positions	27	28
Available-for-sale Debt Securities, Gross Unrealized Loss	$ 492,744	$ 405,936

Note 2: Investments: Fixed Maturity Securities - Additional (Details) - Fixed Maturities - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Average market value over amortized cost	90.80%	94.50%
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities	$ 120,000	$ 120,000	$ 165,000

Note 2: Investments: Equity Securities - Additional (Details) - Equity Securities - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Average Market Value of Security over initial investment	77.60%	77.10%
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities	$ 44,240	$ 100,304	$ 247,317

Note 2: Investments (Details) - USD ($)	12 Months Ended
Note 2: Investments (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Equity Securities
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities	$ 44,240	$ 100,304	$ 247,317

Note 2: Investments: Investments Classified by Contractual Maturity Date (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	$ 135,018,347	$ 143,466,494
HeldToMaturitySecuritiesEstimatedFairValue	150,757,375	153,274,220
Collateralized Mortgage Backed Securities
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	4,263,206	4,522,081
HeldToMaturitySecuritiesEstimatedFairValue	4,556,693	4,717,347
Redeemable Preferred Stock
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	612,023	612,023
HeldToMaturitySecuritiesEstimatedFairValue	634,055	$ 619,117
Common Stock
Available-for-sale Securities, Amortized Cost Basis	7,179,010
AvailableForSaleSecuritiesEstimatedFairValue	6,752,750
Due in 2015
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	4,961,596
HeldToMaturitySecuritiesEstimatedFairValue	5,075,769
Due in 2016 Through 2019
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	33,920,182
HeldToMaturitySecuritiesEstimatedFairValue	37,561,840
Due in 2020 through 2024
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	25,074,149
HeldToMaturitySecuritiesEstimatedFairValue	27,690,447
Due after 2024
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	66,187,191
HeldToMaturitySecuritiesEstimatedFairValue	$ 75,238,571

Note 2: Investments: Gain (Loss) on Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Gains and losses and other than temporary impairments from investments and other assets	$ 1,753,936	$ 1,081,825	$ 216,878
Categories of Investments, Marketable Securities, Held-to-maturity Securities
Gross Realized Gains	390,203	97,238	470,874
Gross Realized Losses	(71,800)	(41,164)	(3,875)
Other than Temporary Impairments	(120,000)	(120,000)	(165,000)
Categories of Investments, Marketable Securities, Available-for-sale Securities
Gross Realized Gains	349,207	540,990	392,033
Gross Realized Losses	(55,222)	(2,678)	(5,705)
Other than Temporary Impairments	(44,240)	(100,304)	(247,317)
Other Assets
Gross Realized Gains	1,445,596	824,203	794,346
Gross Realized Losses	$ (139,808)	(538)	(223,163)
Other than Temporary Impairments		$ (115,922)	$ (795,315)

Note 2: Investments: Fixed Maturity Securities - Carrying Amount and Net Realized Gain (Details) - Categories of Investments, Marketable Securities, Held-to-maturity Securities - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net carrying amount for sales of securities	$ 2,840,709	$ 1,455,835	$ 2,174,300
Net realized gain related to sales of securities	$ 20,722	$ 12,533	$ 271,364

Note 2: Investments: Schedule of Major categories of net investment income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Gross Investment Income	$ 37,564,975	$ 29,553,822	$ 28,012,959
Investment Income, Investment Expense	(9,261,235)	(9,199,820)	(6,097,382)
Net Investment Income	28,303,740	20,354,002	21,915,577
Fixed Maturities
Gross Investment Income	8,229,451	8,265,949	7,731,051
Equity Securities
Gross Investment Income	212,917	210,491	264,063
Collateralized Mortgage Backed Securities
Gross Investment Income	7,550,110	4,666,910	5,543,777
Real Estate
Gross Investment Income	8,433,895	6,658,185	4,927,128
Policy, Student and other loans
Gross Investment Income	741,220	799,703	830,683
Short-term investments, principally gains on sale of mortgage loans
Gross Investment Income	$ 12,397,382	$ 8,952,584	$ 8,716,257

Note 2: Investments: Net Investment Income - Additional (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net Investment Income	$ 28,303,740	$ 20,354,002	$ 21,915,577
Securities on deposit for regulatory authorities	8,886,001	9,215,222
Cemeteries and mortuaries
Net Investment Income	$ 356,369	$ 341,430	$ 352,488

Note 2: Investments: Mortgage Loans - Additional (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Mortgage loans on real estate balances, net of allowance for losses	$ 2,003,055	$ 1,652,090
Minimum
Mortgage Loan, Interest Rate	2.00%
Maximum
Mortgage Loan, Interest Rate	10.50%

Note 2: Investments: The Following Is A Summary of The Allowance For Loan Losses As A Contra-asset Account For The Periods Presented (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses, Beginning Balance	$ 1,652,090	$ 4,239,861
Allowance for credit losses, Charge-offs	(38,444)	(2,808,423)
Allowance for credit losses, Provision	389,409
Financing Receivable, Allowance for Credit Losses, Ending Balance	2,003,055	1,652,090
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	153,446	152,745
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,849,609	1,499,345
Mortgage loans	122,053,127	104,433,968
Financing Receivable, Individually Evaluated for Impairment	1,970,681	1,518,327
Financing Receivable, Collectively Evaluated for Impairment	120,082,446	102,915,641
Allowance fo Credit losses, other charge-offs		220,652
Commercial Loan
Financing Receivable, Allowance for Credit Losses, Beginning Balance	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	35,388,756	41,653,009
Financing Receivable, Collectively Evaluated for Impairment	35,388,756	41,653,009
Allowance fo Credit losses, other charge-offs		187,129
Residential Mortgage
Financing Receivable, Allowance for Credit Losses, Beginning Balance	1,364,847	4,193,674
Allowance for credit losses, Charge-offs	(38,444)	(2,670,794)
Allowance for credit losses, Provision	389,409
Financing Receivable, Allowance for Credit Losses, Ending Balance	1,715,812	1,364,847
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	153,446	152,745
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,562,366	1,212,102
Mortgage loans	53,592,433	49,868,486
Financing Receivable, Individually Evaluated for Impairment	1,556,182	1,518,327
Financing Receivable, Collectively Evaluated for Impairment	52,036,251	48,350,159
Allowance fo Credit losses, other charge-offs		(158,033)
Residential Construction
Financing Receivable, Allowance for Credit Losses, Beginning Balance	100,114	46,187
Allowance for credit losses, Charge-offs		(137,629)
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	33,071,938	12,912,473
Financing Receivable, Individually Evaluated for Impairment	414,499
Financing Receivable, Collectively Evaluated for Impairment	$ 32,657,439	12,912,473
Allowance fo Credit losses, other charge-offs		$ 191,556

Note 2: Investments: Schedule of aging of mortgage loans (Details) - USD ($)

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Mortgage Loans during period

$ 122,053,127

$ 104,433,968

Mortgage Loans, Allowance for Loan Losses

(2,003,055)

(1,652,090)

Mortgage Loans, Net

120,050,072

102,781,878

Commercial Loan

Mortgage Loans during period

35,388,756

41,653,009

Mortgage Loans, Allowance for Loan Losses

(187,129)

Mortgage Loans, Net

35,201,627

41,465,880

Residential Mortgage

Mortgage Loans during period

53,592,433

49,868,486

Mortgage Loans, Allowance for Loan Losses

(1,715,812)

(1,364,847)

Mortgage Loans, Net

51,876,621

48,503,639

Residential Construction

Mortgage Loans during period

33,071,938

12,912,473

Mortgage Loans, Allowance for Loan Losses

(100,114)

Mortgage Loans, Net

32,971,824

12,812,359

Past due 30 to 59 days

Mortgage Loans during period

1,631,142

1,646,953

Past due 30 to 59 days | Residential Mortgage

Mortgage Loans during period

1,631,142

1,646,953

Past due 60 to 89 days

Mortgage Loans during period

1,174,516

1,604,847

Past due 60 to 89 days | Residential Mortgage

Mortgage Loans during period

1,174,516

1,604,847

Past due 90 or more days

Mortgage Loans during period

^[1]

5,529,796

5,932,396

Past due 90 or more days | Residential Mortgage

Mortgage Loans during period

^[1]

5,464,901

5,867,501

Past due 90 or more days | Residential Construction

Mortgage Loans during period

^[1]

64,895

In Foreclosure

Mortgage Loans during period

^[1]

1,970,681

6,492,072

In Foreclosure | Commercial Loan

Mortgage Loans during period

^[1]

4,973,745

In Foreclosure | Residential Mortgage

Mortgage Loans during period

^[1]

1,556,182

1,518,327

In Foreclosure | Residential Construction

Mortgage Loans during period

^[1]

414,499

Total Past Due

Mortgage Loans during period

10,306,135

15,676,268

Total Past Due | Commercial Loan

Mortgage Loans during period

4,973,745

Total Past Due | Residential Mortgage

Mortgage Loans during period

9,826,741

10,637,628

Total Past Due | Residential Construction

Mortgage Loans during period

479,394

64,895

Current

Mortgage Loans during period

111,746,992

88,757,700

Current | Commercial Loan

Mortgage Loans during period

35,388,756

36,679,264

Current | Residential Mortgage

Mortgage Loans during period

43,765,692

39,230,858

Current | Residential Construction

Mortgage Loans during period

$ 32,592,544

$ 12,847,578

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

Note 2: Investments: Schedule of Impaired Mortgage Loans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Residential Mortgage
Impaired Financing Receivable, with Related Allowance, Recorded Investment	$ 1,556,182	$ 1,518,327
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	1,556,182	1,518,327
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	1,556,182	1,518,327
Impaired Financing Receivable, Average Recorded Investment	1,556,182	1,518,327
Impaired Financing Receivable, Unpaid Principal Balance	1,556,182	1,518,327
Impaired Financing Receivable, Related Allowance	153,446	$ 152,745
Residential Construction
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	414,499
Impaired Financing Receivable, Average Recorded Investment	$ 414,499

Note 2: Investments: The Company's Performing and Non-performing Mortgage Loans Were As Follows (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Mortgage loans	$ 122,053,127	$ 104,433,968
Performing Financing Receivable
Mortgage loans	114,552,650	92,009,500
Nonperforming Financing Receivable
Mortgage loans	7,500,477	12,424,468
Commercial Loan
Mortgage loans	35,388,756	41,653,009
Commercial Loan \| Performing Financing Receivable
Mortgage loans	35,388,756	36,679,264
Commercial Loan \| Nonperforming Financing Receivable
Mortgage loans		4,973,745
Residential Mortgage
Mortgage loans	53,592,433	49,868,486
Residential Mortgage \| Performing Financing Receivable
Mortgage loans	46,571,350	42,482,658
Residential Mortgage \| Nonperforming Financing Receivable
Mortgage loans	7,021,083	7,385,828
Residential Construction
Mortgage loans	33,071,938	12,912,473
Residential Construction \| Performing Financing Receivable
Mortgage loans	32,592,544	12,847,578
Residential Construction \| Nonperforming Financing Receivable
Mortgage loans	$ 479,394	$ 64,895

Note 2: Investments: Summary of Interest not accrued on non-performing mortgage loans (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Details
Interest not acrued on non-performing loans	$ 535,000	$ 678,000

Note 2: Investments: Schedule of Mortgate loans on a nonaccrual status (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	$ 7,500,477	$ 12,424,468
Commercial Loan
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest		4,973,745
Residential Mortgage
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	7,021,083	7,385,828
Residential Construction
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	$ 479,394	$ 64,895

Note 2: Investments: Schedule of Principal amounts due on mortgage loans on real estate and construction loans held for investment by category (Details)	Dec. 31, 2014 USD ($)
Mortgage Loans Principal Amount due	$ 122,053,127
Residential Mortgage
Mortgage Loans Principal Amount due	53,592,433
Residential Construction
Mortgage Loans Principal Amount due	33,071,938
Commercial Loan
Mortgage Loans Principal Amount due	35,388,756
DueInNextYearMember
Mortgage Loans Principal Amount due	55,050,101
DueInNextYearMember \| Residential Mortgage
Mortgage Loans Principal Amount due	3,748,893
DueInNextYearMember \| Residential Construction
Mortgage Loans Principal Amount due	32,648,470
DueInNextYearMember \| Commercial Loan
Mortgage Loans Principal Amount due	18,652,738
DueInYearsTwoThroughFiveMember
Mortgage Loans Principal Amount due	30,928,411
DueInYearsTwoThroughFiveMember \| Residential Mortgage
Mortgage Loans Principal Amount due	17,225,255
DueInYearsTwoThroughFiveMember \| Residential Construction
Mortgage Loans Principal Amount due	423,468
DueInYearsTwoThroughFiveMember \| Commercial Loan
Mortgage Loans Principal Amount due	13,279,688
DueThereafterMember
Mortgage Loans Principal Amount due	36,074,615
DueThereafterMember \| Residential Mortgage
Mortgage Loans Principal Amount due	32,618,285
DueThereafterMember \| Commercial Loan
Mortgage Loans Principal Amount due	$ 3,456,330

Note 2: Investments: Schedule of loan loss reserve which is included in other liabilities and accrued expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Details
Loan loss reserve, balance at start of period	$ 5,506,532	$ 6,035,295
Loan loss reserve, Provisions for losses	3,053,403	1,846,285
Loan loss reserve, Charge-offs and settlements	(6,841,785)	(2,375,048)
Loan loss reserve, balance at end of period	$ 1,718,150	$ 5,506,532

Note 3: Receivables: Schedule of Receivables (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Details
Trade contracts	$ 12,166,838	$ 9,993,755
Receivables from sales agents	1,951,677	994,056
Receivables held in escrow	278,331	312,167
Other Receivables	1,428,106	1,601,227
Accounts Receivable, Gross	15,824,952	12,901,205
Allowance for Doubtful Accounts Receivable	(1,280,859)	(1,248,633)
Receivables, net	$ 14,544,093	$ 11,652,572

Note 4: Value of Business Acquired: Schedule of Value of Business Acquired (Details) - USD ($)

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Details

Value of business acquired, balance at start of period

$ 8,547,627

$ 8,680,845

$ 9,829,082

$ 10,996,050

Increase (Decrease) in value of business acquired

1,169,428

192,035

48,190

Imputed interest on value of business acquired

^[1]

591,412

647,848

728,880

Value of business acquired - amortization

(1,894,058)

(1,988,120)

(1,944,038)

Value of business acquired - net amortization charged to income

$ (790,000)

$ (852,000)

$ (958,000)

$ (1,031,000)

$ (1,113,000)

(1,302,646)

(1,340,272)

(1,215,158)

Value of business acquired, balance at start of period

$ 8,547,627

$ 8,680,845

$ 9,829,082

[1]	Imputed interest at 7%.

Note 4: Value of Business Acquired (Details) - USD ($)	12 Months Ended
Note 4: Value of Business Acquired (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Value of business acquired - net amortization charged to income	$ 790,000	$ 852,000	$ 958,000	$ 1,031,000	$ 1,113,000	$ 1,302,646	$ 1,340,272	$ 1,215,158

Note 5: Property and Equipment: Property, Plant and Equipment (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Details
Land and buildings	$ 11,904,100	$ 12,482,082
Furniture and equipment	15,822,957	14,301,713
Property, Plant and Equipment, Gross	27,727,057	26,783,795
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(16,419,343)	(15,260,635)
Property and equipment, net	$ 11,307,714	$ 11,523,160

Note 5: Property and Equipment (Details) - USD ($)	12 Months Ended
Note 5: Property and Equipment (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Depreciation and amortization	$ 2,177,165	$ 1,621,069	$ 1,258,097

Note 6: Bank and Other Loans Payable: Summary of Bank Loans Payable (Details) - USD ($)

Dec. 31, 2014

Dec. 31, 2013

Bank loans payable

$ 29,020,378

$ 18,289,438

Current Installment

5,248,043

5,849,926

Bank and other loans, excluding current installments

23,772,335

12,439,512

6.34% note payable

Bank loans payable

^[1]

466,937

612,068

5.75% note payable

Bank loans payable

^[2]

3,398,099

3,509,944

Mark to market of interest rate swaps

Bank loans payable

31,370

58,310

3.85% note payable

Bank loans payable

^[3]

461,889

1,377,925

N385ANotePayableMember

Bank loans payable

^[4]

2,994,999

3,891,926

N440NotePayableMember

Bank loans payable

^[5]

8,333,550

8,500,000

N275NotePayableMember

Bank loans payable

^[6]

13,085,189

Other collateralized bank loans payable

Bank loans payable

247,384

338,304

Other notes payable

Bank loans payable

$ 961

[1]	Payable in monthly installments of $13,556 including principal and interest, collateralized by real property with a book value of approximately $498,000, due November 2017.
[2]	5.75% note payable in monthly installments of $28,271 including principal and interest, collateralized by real property with a book value of approximately $6,183,000 due December 2014.
[3]	3.85% note payable in monthly installments of $79,468 including principal and interest, collateralized by shares of Security National Life Insurance Company Stock, due June 2015.
[4]	3.85% note payable in monthly installments of $86,059 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due December 2017
[5]	4.40% note payable in monthly installments of $46,825 including principal and interest, collateralized by real property with a book value of approximately $12,450,000 due January 2026.
[6]	2.75% above the 90-day LIBOR rate (3.0052% at December 31, 2014) construction and term loan payable, collateralized by real property with a book value of approximately $22,855,000 due July 2017

Note 6: Bank and Other Loans Payable: Loan Agreements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Interest Rate Swap Instrument
Long-term Debt, Fair Value	$ 31,370	$ 58,310
Debt Instrument, Interest Rate, Effective Percentage	2.65%
Derivative Liability	$ 31,370		$ 58,310
Change in accumulated other comprehensive income	$ 26,940	$ 32,262
Revolving Line of Credit 1
Line of Credit Facility, Description	The Company has a $2,000,000 revolving line-of-credit with a bank with interest payable at the prime rate minus .75%
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,000,000
Line of Credit Facility, Interest Rate at Period End	2.50%
Line of Credit Facility, Collateral	secured by the capital stock of Security National Life
Line of Credit Facility, Amount Outstanding	$ 0
Revolving Line of Credit 2
Line of Credit Facility, Description	The Company has a $15,000,000 revolving line-of-credit with a bank with interest payable at the variable overnight Libor rate plus 2%
Line of Credit Facility, Interest Rate at Period End	2.11%
Line of Credit Facility, Collateral	secured by bond investments of the Company
Line of Credit Facility, Amount Outstanding	$ 0
Revolving Line of Credit 3
Line of Credit Facility, Description	The Company has a $2,150,000 revolving line-of-credit with a bank with interest payable at the prime rate plus 1.25%
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,150,000
Line of Credit Facility, Interest Rate at Period End	4.50%
Line of Credit Facility, Collateral	secured by the capital stock of Security National Life
Line of Credit Facility, Amount Outstanding	$ 0

Note 6: Bank and Other Loans Payable: Schedule of combined maturities of bank loans payable, lines of credit and notes and contracts payable (Details)	Dec. 31, 2014 USD ($)
Bank loans payable, lines of credit and notes and contracts payable	$ 29,020,378
DueInYearOneMember
Bank loans payable, lines of credit and notes and contracts payable	5,248,043
DueInYearTwoMember
Bank loans payable, lines of credit and notes and contracts payable	1,395,942
DueInYearThreeMember
Bank loans payable, lines of credit and notes and contracts payable	14,586,183
DueInYearFourMember
Bank loans payable, lines of credit and notes and contracts payable	246,769
DueInYearFiveMember
Bank loans payable, lines of credit and notes and contracts payable	246,336
DueInYearThereafterMember
Bank loans payable, lines of credit and notes and contracts payable	$ 7,297,105

Note 6: Bank and Other Loans Payable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Interest Paid	$ 2,994,429	$ 2,853,701	$ 3,744,293

Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds: Schedule of the components of the cemetery perpetual care obligation (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Details
Cemetery perpetual care obligation, trust investments at market value	$ 2,645,423	$ 2,414,883
Cemetery perpetual care obligation, note receivables eliminated in consolidation	1,847,892	1,881,565
Cemetery perpetual care obligation, trust assets	4,493,315	4,296,448
CemeteryPerpetualCareObligation	(3,406,718)	(3,266,131)
Cemetery perpetual care obligation, fair value of trust assets in excess of trust obligations	$ 1,086,597	$ 1,030,317

Note 7: Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds: Schedule of Restricted Assets in Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Restricted assets	$ 9,347,797	$ 6,670,980
Cash and Cash Equivalents
Restricted assets	7,274,685	4,746,417
Mutual Funds
Restricted assets	627,154	582,163
Fixed Maturity Securities
Restricted assets	8,775	8,775
Equity Securities
Restricted assets	88,048	84,986
Participating in Mortgage loans with Security National Life
Restricted assets	$ 1,349,135	$ 1,248,639

Note 8: Income Taxes: Summary of Income Tax Liability (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Details
Current Income Tax Liability	$ (333,350)	$ (1,578,071)
Income Tax Liability	20,755,117	17,529,919
Income taxes	$ 20,421,767	$ 15,951,848

Note 8: Income Taxes: Schedule of components of Deferred Tax Liabilities (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Liabilities
Income Tax Liability	$ 20,755,117	$ 17,529,919
Approximate
Assets
Deferred Tax, Future policy benefits	(6,856,001)	(5,381,385)
Deferred Tax, Loan Loss Reserve	(670,078)	(2,147,547)
Deferred Tax, Unearned premium	(1,687,059)	(1,759,087)
Deferred Tax, Available for sale Securities	(125,797)	(566,316)
Deferred Tax Net Operating Loss	(1,738,137)	(873,412)
Deferred Tax Deferred Compensation	(1,279,860)	(1,057,551)
Deferred Tax Deposit Obligations	(1,018,313)	(1,043,964)
Deferred Tax, Other assets	(1,398,152)	(1,287,773)
Deferred Tax, Valuation Allowance	5,276,431	5,593,063
Deferred Tax Assets, Net of Valuation Allowance	(9,496,966)	(8,523,972)
Liabilities
Deferred Tax, Deferred policy acquisition costs	12,271,954	10,914,618
Deferred Tax, Basis difference in property and equipment	7,049,551	6,242,266
Deferred Tax, Value of business acquired	2,906,193	2,951,487
Deferred Tax, Installment sales	5,472,003	3,545,692
Deferred Tax, Trusts	1,599,657	1,599,657
Tax on unrealized appreciation	952,725	800,171
Deferred Tax Liabilities, Net	30,252,083	26,053,891
Income Tax Liability	$ 20,755,117	$ 17,529,919

Note 8: Income Taxes: Deferred taxes, taxes paid and changes in valuation allowance (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Deferred Taxes Decrease In The Valuation Allowance	$ 316,632	$ 735,868
Income Taxes Paid	$ 408,939	$ 4,009,598	$ 1,900,000

Note 8: Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Current Income Tax Expense (Benefit)	$ 1,653,663	$ 1,821,539	$ 2,707,962
Deferred income tax expense	3,072,642	416,267	1,930,813
Income Tax Expense (Benefit), Continuing Operations	$ 4,726,305	$ 2,237,806	$ 4,638,775

Note 8: Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ 4,243,524	$ 3,340,067	$ 7,472,953
Effective Income Tax Rate Reconciliation, Tax Settlement, Amount		20,371
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	482,781	(1,122,632)	(2,834,178)
Income Tax Expense (Benefit), Continuing Operations	$ 4,726,305	$ 2,237,806	$ 4,638,775

Note 8: Income Taxes: Unrecognized tax benefits, interest and penalties (Details)	Dec. 31, 2014 USD ($)
Details
Unrecognized Tax Benefits	$ 0

Note 9: Reinsurance, Commitments and Contingencies: Reinsurance (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Unaudited
Insurance assumed from other companies	$ 1,462,340,000	$ 1,566,336,000

Note 9: Reinsurance, Commitments and Contingencies: Reinsurance with North America Life Insurance Company (Details) - USD ($)	1 Months Ended
	Feb. 28, 2014	Dec. 31, 2013	Feb. 13, 2014	Dec. 10, 2013
Recapture Payment			$ 4,684,000	$ 2,500,000
North America Life Insurance Company
Ceding commission paid	$ 57,000	$ 34,000

Note 9: Reinsurance, Commitments and Contingencies: Mortgage Loan Loss Settlements (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Details
Amounts accrued for loan losses	$ 1,718,000	$ 5,507,000

Note 9: Reinsurance, Commitments and Contingencies: Third Party Investors (Details)	Dec. 31, 2014 USD ($)
Third Party Investors
Funds reserved and accrued to settle investor related claims	$ 1,702,000

Note 9: Reinsurance, Commitments and Contingencies: Lehman Brothers - Aurora Loan Services Litigation (Details) - Aurora Loan Services - USD ($)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2010	Dec. 31, 2014
Deposit to secure obligations			$ 645,000
Funds paid from deposit account			4,281,000
Alleged amount owed			$ 3,745,000
Recognized alleged losses	$ 0	$ 1,289,000

Note 9: Reinsurance, Commitments and Contingencies: Schedule of Future Minimum Rental Payments for Operating Leases (Details)	Dec. 31, 2014 USD ($)
Details
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 4,299,185
Operating Leases, Future Minimum Payments, Due in Two Years	3,610,599
Operating Leases, Future Minimum Payments, Due in Three Years	2,835,947
Operating Leases, Future Minimum Payments, Due in Four Years	1,188,581
Operating Leases, Future Minimum Payments, Due in Five Years	563,956
Operating Leases, Future Minimum Payments Due	$ 12,498,268

Note 9: Reinsurance, Commitments and Contingencies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Rent expense related to non-cancelable operating leases	$ 5,589,000	$ 4,307,000	$ 3,425,000

Note 9: Reinsurance, Commitments and Contingencies: Other Contingencies and Commitments (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Details
Reserve related to Insurance programs	$ 929,417	$ 524,034

Note 10: Retirement Plans: Noncontributory Employee Stock Ownership Plan (ESOP) (Details) - Employee Stock Ownership Plan (ESOP)	12 Months Ended
	Dec. 31, 2014 shares
Employee Stock Ownership Plan (ESOP), Plan Description	The Company and its subsidiaries have a noncontributory Employee Stock Ownership Plan (ESOP) for all eligible employees. Eligible employees are primarily those with more than one year of service, who work in excess of 1,000 hours per year. Contributions, which may be in cash or stock of the Company, are determined annually by the Board of Directors. The Company’s contributions are allocated to eligible employees based on the ratio of each eligible employee’s compensation to total compensation for all eligible employees during each year.
Class A Common Stock
Employee Stock Ownership Plan (ESOP), Shares in ESOP	579,918
Class C Common Stock
Employee Stock Ownership Plan (ESOP), Shares in ESOP	252,974

Note 10: Retirement Plans: 401(k) Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Description of Defined Contribution Pension and Other Postretirement Plans	The Company has three 401(k) savings plans covering all eligible employees, as defined above, which includes employer participation in accordance with the provisions of Section 401(k) of the Internal Revenue Code. The plans allow participants to make pretax contributions up to a maximum of $17,500, $17,500 and $17,000 for the years 2014, 2013 and 2012, respectively or the statutory limits.
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Amount	$ 17,500	$ 17,500	$ 17,000
SafeHarborPlanMember
Contribution to Retirement Plan	$ 808,572	$ 749,898	$ 222,719

Note 10: Retirement Plans: Deferred Compensation Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
CEO, and past senior VP
Deferred Compensation Arrangement with Individual, Recorded Liability	$ 598,426
Scott M. Quist
Deferred Compensation Arrangement with Individual, Recorded Liability	2,270,425	$ 1,437,242
Present value of anticipated benefits	833,183	264,000
Deferred Tax Credits related to compensation expense
Deferred Compensation Arrangement with Individual, Recorded Liability	768,220	$ 613,403
Present value of anticipated benefits	$ 154,817
Deferred Compensation Plan
Deferred Compensation Arrangements, Overall, Description	Under the terms of the Plan, the Company will provide deferred compensation for a select group of management or highly compensated employees, within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended. The Board has appointed a Committee of the Company to be the Plan Administrator and to determine the employees who are eligible to participate in the plan. The employees who participate may elect to defer a portion of their compensation into the plan.

Note 11: Capital Stock: Schedule of Activity in shares of capital stock (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Class A Common Stock
Common Stock Outstanding	12,459,240	11,807,287	10,843,576	9,638,798
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	54,412	359,786	685,753
Dividends	$ 595,020	$ 562,152	$ 518,702
Conversion of Stock, Shares Issued	2,521	41,773	323
Class C Common Stock
Common Stock Outstanding	1,394,069	1,330,191	1,097,410	1,013,598
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		211,211	31,891
Dividends	$ 66,384	$ 63,342	$ 52,244
Conversion of Stock, Shares Issued	(2,521)	(41,773)	(323)

Note 11: Capital Stock: Schedule of Basic and diluted earnings per share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Net Earnings (Loss)	$ 7,754,648	$ 7,585,921	$ 16,712,518
Weighted Average Number of Shares Outstanding, Basic and Diluted	12,518,743	12,366,029	11,427,568
Employee stock options	$ 409,266	$ 615,547	$ 599,281
Pro Forma Weighted Average Shares Outstanding, Diluted	409,266	615,547	599,281
Adjustedweighted average shares and assumed conversions	12,928,009	12,981,576	12,026,849
Net earnings per Class A equivalent common share (1)	$ 0.62	$ 0.61	$ 1.46
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.60	$ 0.58	$ 1.39

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

Note 12: Stock Compensation Plans (Details) - USD ($)	12 Months Ended
Note 12: Stock Compensation Plans (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 391,220	$ 88,369	$ 251,031
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 173,650	$ 2,179,393

Note 12: Stock Compensation Plans: Schedule of Activity of the 2003 Plan (Details)	12 Months Ended
	Dec. 31, 2014 USD ($) $ / shares shares	Dec. 31, 2013 $ / shares shares	Dec. 31, 2012 $ / shares shares	Dec. 31, 2011 $ / shares shares
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	512,795	405,133	972,253	1,996,543
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price \| $ / shares	$ 3.20	$ 2.41	$ 2.07	$ 2.40
Adjustment for the effect of stock dividends	24,446	17,962	43,928
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	173,500	81,960	347,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised	(59,713)	(485,366)	(1,041,276)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Forfeited	(30,571)	(76,676)	(123,134)
Shares Reclassifies		(105,000)	(250,808)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	343,987
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price \| $ / shares	$ 2.50
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	265,198
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	7.70
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	6.65
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value \| $	$ 1,042,682
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value \| $	$ 940,079
Class C Common Stock
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	691,591	508,657	583,851	361,028
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price \| $ / shares	$ 2.54	$ 2.00	$ 2.18
Adjustment for the effect of stock dividends	32,934	24,222	24,515
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	150,000	50,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised		(190,602)	(52,500)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Forfeited		(63,814)
Shares Reclassifies		105,000	250,808
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	547,216
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price \| $ / shares	$ 2.00
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	3.42
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	1.79
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value \| $	$ 1,856,886
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value \| $	$ 1,780,498

Note 13: Statutory Financial Information and Dividend Limitations: Schedule of statutory accounting practices (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statutory Accounting Practices, Statutory Net Income Amount	$ 5,139,394	$ 1,286,742	$ 393,989
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	37,528,350	32,765,236
SecurityNationalLifeInsuranceMember
Statutory Accounting Practices, Statutory Net Income Amount	5,137,208	1,283,311	391,533
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	34,356,157	29,597,289
MemorialInsuranceCompanyOfAmericaMember
Statutory Accounting Practices, Statutory Net Income Amount	415	237	159
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,082,587	1,083,237
SouthernSecurityLifeInsuranceCompanyIncMember
Statutory Accounting Practices, Statutory Net Income Amount	467	1,288	184
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,590,424	1,586,832
TransWesternLifeInsuranceCompanyMember
Statutory Accounting Practices, Statutory Net Income Amount	1,304	1,906	$ 2,113
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 499,182	$ 497,878

Note 14: Business Segment Information: Schedule of Segment Reporting Information, by Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information, Revenue for Reportable Segment
Revenue from customers	$ 193,131,985	$ 191,272,963	$ 210,968,662
Net investment income	28,303,740	20,354,002	21,915,577
Gain (Loss) on Investments	1,918,176	1,418,051	1,424,510
Other than Temporary Impairment Losses, Investments	(164,240)	(336,226)	(1,207,632)
Other Revenue, Net	3,747,013	2,606,230	1,159,052
Net Investment Income	28,303,740	20,354,002	21,915,577
Segment Reporting Information, Revenue for Reportable Segment	226,936,674	215,315,020	234,260,169
Death and other policy benefits	29,789,964	28,534,936	24,246,088
Increase (Decrease) in Future Policy Benefit Reserves	18,060,151	19,594,890	21,435,191
Amortization of deferred policy and preneed acquisition costs and Value of Business Acquired	6,892,978	5,181,837	5,449,429
Depreciation	2,177,165	1,621,069	1,258,097
Provision for Loan and Lease Losses	3,053,403	1,751,472	4,239,418
Costs related to funding mortgage loans	6,877,069	6,635,290	6,931,045
Other General Expense	144,610,562	139,318,098	145,605,315
Interest Expense, Other	2,994,429	2,853,701	3,744,293
Benefits and Expenses	214,455,721	205,491,293	212,908,876
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	12,480,953	9,823,727	21,351,293
Income tax expemse (benefit)	(4,726,305)	(2,237,806)	(4,638,775)
Net Earnings (Loss)	7,754,648	7,585,921	16,712,518
Identifiable Assets	671,069,562	618,757,454	597,216,623
Goodwill	2,765,570	677,039	677,039
Expenditures for long-lived assets	2,280,563	3,570,333	3,221,620
Life Insurance Segment
Segment Reporting Information, Revenue for Reportable Segment
Revenue from customers	57,037,623	51,322,567	49,550,904
Net investment income	23,008,489	15,877,784	16,616,541
Gain (Loss) on Investments	1,208,391	1,402,352	1,415,556
Other than Temporary Impairment Losses, Investments	(164,240)	(336,226)	(1,207,632)
Other Revenue, Net	682,682	538,009	482,325
Net Investment Income	6,128,389	7,220,282	7,570,979
Segment Reporting Information, Revenue for Reportable Segment	87,901,334	76,024,768	74,428,673
Death and other policy benefits	29,789,964	28,534,936	24,246,088
Increase (Decrease) in Future Policy Benefit Reserves	18,060,151	19,594,890	21,435,191
Amortization of deferred policy and preneed acquisition costs and Value of Business Acquired	6,561,589	4,811,300	5,137,586
Depreciation	644,510	401,893	315,960
Administrative costs, intersegment	24,000	24,000	24,000
Other General Expense	23,045,928	18,753,753	17,824,800
Interest Expense, intersegment	725,354	802,352	694,442
Interest Expense, Other	578,083	233,343	159,659
Benefits and Expenses	79,429,579	73,156,467	69,837,726
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	8,471,755	2,868,301	4,590,947
Income tax expemse (benefit)	(3,427,254)	399,304	1,755,258
Net Earnings (Loss)	5,044,501	3,267,605	6,346,205
Identifiable Assets	652,348,803	591,465,834	558,845,424
Goodwill	2,765,570	391,848	391,848
Expenditures for long-lived assets	1,420,950	659,259	400,605
Cemetery and Mortuary
Segment Reporting Information, Revenue for Reportable Segment
Revenue from customers	11,426,308	12,000,375	10,864,497
Net investment income	275,324	268,923	333,625
Gain (Loss) on Investments	585,543	15,699	8,954
Other Revenue, Net	169,464	94,703	136,189
Net Investment Income	1,288,856	1,356,825	1,435,891
Segment Reporting Information, Revenue for Reportable Segment	13,745,495	13,736,525	12,779,156
Amortization of deferred policy and preneed acquisition costs and Value of Business Acquired	331,389	370,537	311,843
Depreciation	436,390	426,641	426,006
Administrative costs, intersegment	166,079	141,367	102,726
Other General Expense	10,245,144	10,467,717	9,582,499
Interest Expense, intersegment	1,481,317	1,664,096	1,681,987
Interest Expense, Other	421,920	443,133	455,449
Benefits and Expenses	13,082,239	13,513,491	12,560,510
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	663,256	223,034	218,646
Net Earnings (Loss)	663,256	223,034	218,646
Identifiable Assets	109,114,226	114,454,631	116,368,747
Goodwill		285,191	285,191
Expenditures for long-lived assets	121,677	1,100,195	689,154
Mortgage
Segment Reporting Information, Revenue for Reportable Segment
Revenue from customers	124,668,054	127,950,021	150,553,261
Net investment income	5,019,927	4,207,295	4,965,411
Gain (Loss) on Investments	124,242
Other Revenue, Net	2,894,867	1,973,518	540,538
Net Investment Income	642,880	262,074	294,980
Segment Reporting Information, Revenue for Reportable Segment	133,349,970	134,392,908	156,354,190
Depreciation	1,096,265	792,535	516,131
Administrative costs, intersegment	208,513	199,193	137,696
Provision for Loan and Lease Losses	3,053,403	1,751,472	4,239,418
Costs related to funding mortgage loans	6,877,069	6,635,290	6,931,045
Other General Expense	111,319,492	110,096,627	118,198,014
Interest Expense, intersegment	5,454,860	6,008,174	6,661,001
Interest Expense, Other	1,994,426	2,177,225	3,129,185
Benefits and Expenses	130,004,028	127,660,516	139,812,490
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	3,345,942	6,732,392	16,541,700
Income tax expemse (benefit)	(1,299,051)	(2,637,110)	(6,394,033)
Net Earnings (Loss)	2,046,891	4,095,282	10,147,667
Identifiable Assets	52,349,204	50,250,677	55,613,678
Expenditures for long-lived assets	737,936	1,810,879	2,131,861
Significant Reconciling Items
Segment Reporting Information, Revenue for Reportable Segment
Net Investment Income	(8,060,125)	(8,839,181)	(9,301,850)
Segment Reporting Information, Revenue for Reportable Segment	(8,060,125)	(8,839,181)	(9,301,850)
Administrative costs, intersegment	(398,592)	(364,560)	(264,422)
Other General Expense	(2)	1	2
Interest Expense, intersegment	(7,661,531)	(8,474,622)	(9,037,430)
Benefits and Expenses	(8,060,125)	(8,839,181)	(9,301,850)
Identifiable Assets	$ (142,742,671)	$ (137,413,688)	$ (133,611,226)

Note 16: Fair Value of Financial Instruments: Schedule of fair value assets and liabilities measured on a recurring basis (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Trading Securities, Equity	$ 6,752,750	$ 4,498,756
Available-for-sale Securities	6,752,750	4,498,756
Restricted assets of cemeteries and mortuaries	715,202	667,149
Cemetery perpetual care trust investments	695,235	695,616
Derivatives - interest rate lock commitments	2,111,529	1,511,111
Assets, Fair Value Disclosure	10,274,716	7,372,632
Policyholder account balances	(45,310,699)
Future policy benefits - annuities	(65,540,985)	(65,052,928)
Derivatives - bank loan interest rate swaps	(31,370)	(58,310)
Derivatives - bank loan interest rate swaps, Call Options	(116,036)	(124,174)
Derivatives - bank loan interest rate swaps, Put Options	(11,867)
Derivatives - bank loan interest rate swaps, Interest rate lock commitments	(181,678)	(23,203)
Liabilities accounted for at fair value	(111,192,635)	(113,259,283)
Liabilities accounted for at fair value on a recurring basis
Policyholder account balances		(48,000,668)
Fair Value, Inputs, Level 1
Trading Securities, Equity	6,752,750	4,498,756
Available-for-sale Securities	6,752,750	4,498,756
Restricted assets of cemeteries and mortuaries	715,202	667,149
Cemetery perpetual care trust investments	695,235	695,616
Assets, Fair Value Disclosure	8,163,187	5,861,521
Derivatives - bank loan interest rate swaps, Call Options	(116,036)	(124,174)
Derivatives - bank loan interest rate swaps, Put Options	(11,867)
Liabilities accounted for at fair value	(127,903)	(124,174)
Fair Value, Inputs, Level 3
Derivatives - interest rate lock commitments	2,111,529	1,511,111
Assets, Fair Value Disclosure	2,111,529	1,511,111
Policyholder account balances	(45,310,699)
Future policy benefits - annuities	(65,540,985)	(65,052,928)
Derivatives - bank loan interest rate swaps	(31,370)	(58,310)
Derivatives - bank loan interest rate swaps, Interest rate lock commitments	(181,678)	(23,203)
Liabilities accounted for at fair value	$ (111,064,732)	(113,135,109)
Liabilities accounted for at fair value on a recurring basis
Policyholder account balances		$ (48,000,668)

Note 16: Fair Value of Financial Instruments: Schedule of Changes in the consolidated balance sheet line items measured using level 3 inputs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Policyholder Account Balances
Fair Value Balance	$ (48,000,668)	$ (49,746,337)
Fair Value, Losses (Gains) included in earnings	2,689,969	1,745,669
Fair Value Balance	(45,310,699)	(48,000,668)
Future Policy Benefits - Annuities
Fair Value Balance	(65,052,928)	(65,171,687)
Fair Value, Losses (Gains) included in earnings	(488,057)	118,759
Fair Value Balance	(65,540,985)	(65,052,928)
Interest Rate Lock Commitments
Fair Value Balance	1,487,908	2,961,465
Fair Value, Losses (Gains) included in other comprehensive income	441,943	(1,473,557)
Fair Value Balance	1,929,851	1,487,908
Bank Loan Interest Rate Swaps
Fair Value Balance	(58,310)	(93,572)
Fair Value, Losses (Gains) included in other comprehensive income	26,940	35,262
Fair Value Balance	$ (31,370)	$ (58,310)

Note 16: Fair Value of Financial Instruments: Fair Value Assets Measured on a Nonrecurring Basis (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Mortgage servicing rights	$ 3,741,381	$ 2,494,254
Real estate held for investment	53,500	660,784
Assets, Fair Value Disclosure, Nonrecurring	3,794,881	3,244,038
Assets accounted for at fair value on non-recurring basis
Mortgage loans on real estate		89,000
Fair Value, Inputs, Level 3
Mortgage servicing rights	3,741,381	2,494,254
Real estate held for investment	53,500	660,784
Assets, Fair Value Disclosure, Nonrecurring	$ 3,794,881	3,244,038
Assets accounted for at fair value on non-recurring basis
Mortgage loans on real estate		$ 89,000

Note 16: Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Carrying Value	$ (28,989,008)	$ (18,231,128)
Estimated Carrying Value	(28,989,008)	(18,231,128)
Residential Mortgage
Carrying Value	51,876,621	48,503,639
Estimated Carrying Value	55,247,638	51,537,154
Residential Construction
Carrying Value	32,971,824	12,812,359
Estimated Carrying Value	32,971,824	12,812,359
Commercial Loan
Carrying Value	35,201,627	41,465,880
Estimated Carrying Value	36,829,266	42,441,268
Mortgage loans, net
Carrying Value	120,050,072	102,781,878
Estimated Carrying Value	125,048,728	106,790,781
Policy Loan
Carrying Value	7,011,012	7,520,376
Estimated Carrying Value	7,011,012	7,520,376
Other loans
Carrying Value	27,114,416	12,203,630
Estimated Carrying Value	27,114,416	12,203,630
Short term investments
Carrying Value	27,059,495	12,135,719
Estimated Carrying Value	27,059,495	12,135,719
Fair Value, Inputs, Level 3
Estimated Carrying Value	(28,989,008)	(18,231,128)
Fair Value, Inputs, Level 3 \| Residential Mortgage
Estimated Carrying Value	55,247,638	51,537,154
Fair Value, Inputs, Level 3 \| Residential Construction
Estimated Carrying Value	32,971,824	12,812,359
Fair Value, Inputs, Level 3 \| Commercial Loan
Estimated Carrying Value	36,829,266	42,441,268
Fair Value, Inputs, Level 3 \| Mortgage loans, net
Estimated Carrying Value	125,048,728	106,790,781
Fair Value, Inputs, Level 3 \| Policy Loan
Estimated Carrying Value	7,011,012	7,520,376
Fair Value, Inputs, Level 3 \| Other loans
Estimated Carrying Value	27,114,416	12,203,630
Fair Value, Inputs, Level 3 \| Short term investments
Estimated Carrying Value	$ 27,059,495	$ 12,135,719

Note 17: Accumulated Other Comprehensive Income: Schedule of Changes in accumulated other comprehensive income (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Details
Accumulated other comprehensive income, Unrealized gains (losses) on Available for Sale Securities	$ (390,143)	$ (12,299)
Reclassification adjustment for net realized gains in net income	293,985	538,311
Net unrealized gains (losses) before taxes	(96,158)	526,012
Tax (expense) benefit	30,310	(221,221)
Net Unrealized Gain (Loss)	(65,848)	304,791
Net Potential unrealized gains (losses) for derivative mortgage loans before taxes	26,940	35,262
Potential Tax Expense Benefit	(10,507)	(9,073)
Net Unrealized Gain (Loss) including Derivatie Bank Loans and Tax benefit	16,433	26,189
Potential unrealized gains (losses) for derivative mortgage loans before taxes	441,943	(1,473,557)
Tax (expense) benefit on Derivative Mortgage Loans	(172,358)	426,614
Net Unrealized Gain (Loss) including Derivatie Bank Loans, Mortgage Loans and Tax Benefits	269,585	(1,046,943)
Other comprehensive income changes	$ 220,170	$ (715,963)

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

Note 18: Derivative Commitments (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Details
Market value of outstanding call options	$ 127,903	$ 124,174

Note 18: Derivative Commitments: Schedule of Derivative Assets at Fair Value (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Details
Fair Value of Asset Derivatives, Interest rate lock and forward sales commitments	$ 2,111,529	$ 1,511,111
Fair Value of Liability Derivatives, Interest rate lock and forward sales commitments	181,678	23,203
Fair Value of Liability Derivatives, Call Options	116,036	124,174
Fair Value of Liability Derivatives, Put Options	11,867
Fair Value of Liability Derivatives, Interest Rate Swaps	31,370	58,310
Fair Value of Asset Derivatives, Total	2,111,529	1,511,111
Fair Value of Liability Derivatives, Total	$ 340,951	$ 205,687

Note 18: Derivative Commitments: Schedule of Gains and Losses on Derivatives (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Details
Gain (Loss) on Derivatives, Interest Rate Lock Commitments	$ 441,943	$ (1,473,557)
Gain (Loss) on Derivatives, Interest Rate Swaps	26,940	35,262
Sub total Gain on Derivatives	468,883	(1,438,295)
Tax Effect Gain on Derivatives	182,865	(417,541)
Gain (Loss) on Derivatives, Total	$ 286,018	$ (1,020,754)

Note 19: Acquisitions: The Estimated Fair Values of The Assets Acquired and The Liabilities Assumed At The Date of Acquisition (Details)	May 02, 2012 USD ($)
Details
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment	$ 760,120
Business Acquisition, Purchase Price Allocation, Goodwill Amount	2,373,722
Business Acquisition, Purchase Price Allocation, Other Assets	1,379,158
Business Acquisition, Purchase Price Allocation, Assets Acquired	16,379,193
Business Acquisition, Purchase Price Allocation, Other Liabilities	(1,368,000)
Business Acquisition, Purchase Price Allocation, Liabilities Assumed	(1,368,000)
Business Acquisition, Cost of Acquired Entity, Purchase Price	$ 15,011,193

Note 19: Acquisitions: Acquisition of Trans-Western Pro Forma (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Total revenues	$ 226,936,674	$ 215,315,020	$ 234,260,169
Net earnings	$ 7,754,648	$ 7,585,921	$ 16,712,518
Net earnings per Class A equivalent common share (1)	$ 0.62	$ 0.61	$ 1.46
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.60	$ 0.58	$ 1.39
ProForma1Member
Total revenues	$ 229,268,653	$ 220,011,370	$ 236,854,910
Net earnings	$ 7,996,405	$ 7,963,589	$ 16,576,647
Net earnings per Class A equivalent common share (1)	$ 0.64	$ 0.64	$ 1.45
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.62	$ 0.61	$ 1.38

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Note 20: Mortgage Servicing Rights: Schedule of mortgage servicing rights (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Details
Origination of Mortgage Servicing Rights (MSRs)	$ 3,741,381	$ 2,494,254
Amortization of MSR's	(750,735)	(447,623)
Mortgage servicing rights	7,834,747	4,844,101
Estimated fair value of MSRs	$ 8,485,570	$ 5,491,270

Note 20: Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights Amortization (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2020	Dec. 31, 2014	Dec. 31, 2013
Details
Amortization of Mortgage Servicing Rights (MSRs)	$ 870,527	$ 870,527	$ 870,527	$ 870,527	$ 870,527
Amortization of Mortgage Servicing Rights Thereafter						$ 3,482,112
Mortgage servicing rights							$ 7,834,747	$ 4,844,101

Note 21: Quarterly Financial Data (unaudited): Schedule of Quarterly Financial Information (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Total revenues													$ 226,936,674	$ 215,315,020	$ 234,260,169
Benefits and Expenses													214,455,721	205,491,293	212,908,876
Income tax expense													(4,726,305)	(2,237,806)	(4,638,775)
Net Earnings (Loss)													$ 7,754,648	$ 7,585,921	$ 16,712,518
Net earnings per Class A equivalent common share (1)													$ 0.62	$ 0.61	$ 1.46
Net earnings per Class A equivalent common share - assuming dilution(1)													$ 0.60	$ 0.58	$ 1.39
Unaudited
Total revenues	$ 60,745,876	$ 61,725,792	$ 59,411,730	$ 45,053,276	$ 48,577,706	$ 50,552,791	$ 61,332,289	$ 54,852,234	$ 66,660,833	$ 63,747,903	$ 56,528,210	$ 47,323,223
Benefits and Expenses	55,995,147	58,348,652	55,224,633	44,887,289	48,415,406	48,588,507	56,862,769	51,624,611	58,806,804	57,615,608	51,491,833	44,994,631
Earnings (loss) before income taxes	4,750,729	3,377,140	4,187,097	165,987	162,300	1,964,284	4,469,520	3,227,623
Income tax expense	(1,896,814)	(1,239,318)	(1,563,034)	(27,139)	1,324,619	(697,793)	(1,670,275)	(1,194,357)	$ (386,772)	$ (2,142,249)	$ (1,443,345)	$ (666,409)
Net Earnings (Loss)	$ 2,853,915	$ 2,137,822	$ 2,624,063	$ 138,848	$ 1,486,919	$ 1,266,491	$ 2,799,245	$ 2,033,266
Net earnings per Class A equivalent common share (1)	$ 0.23	$ 0.17	$ 0.21	$ 0.01	$ 0.12	$ 0.10	$ 0.23	$ 0.17	$ 0.67	$ 0.37	$ 0.34	$ 0.16
Net earnings per Class A equivalent common share - assuming dilution(1)	$ 0.22	$ 0.17	$ 0.20	$ 0.01	$ 0.11	$ 0.10	$ 0.21	$ 0.15	$ 0.61	$ 0.34	$ 0.32	$ 0.15
Earnings before income taxes									$ 7,854,029	$ 6,132,295	$ 5,036,377	$ 2,328,592
NetEarnings									$ 7,467,257	$ 3,990,046	$ 3,593,032	$ 1,662,183