The Mutual Financials

Summary Statement of Income

For the Years Ended December 31, 2017 and 2016
2017 2016
Premiums earned $ 23,649,000 $ 24,412,989
Losses and loss adjustment expense -14,349,000 -18,385,717
Other underwriting expense -2,238,000 -1,986,955
Net underwriting income $ 7,062,000 $ 4,040,317
Investment income 2,564,000 2,611,235
Dividends to Policyholders -4,587,000 -701,018
Income before federal income taxes $ 5,039,000 $ 5,950,534
Federal income tax expense -1,430,000 -1,749,688
Net income $ 3,609,000 $ 4,200,846

Summary Statement of Admitted Assets, Liabilities and Surplus

December 31, 2017 and 2016
Admitted Assets
2017 2016
Cash and investments $ 109,716,000 $ 105,475,127
Other Assets 1,722,000 2,236,188
Total admitted assets $ 111,438,000 $ 107,711,315
Liabilities and Surplus
2017 2016
Loss reserves $ 48,432,000 $ 44,742,900
Other liabilities 9,957,000 14,841,532
Total liabilities $ 58,389,000 $ 59,584,432
Surplus 53,049,000 48,126,883
Total liabilities and surplus $ 111,438,000 $ 107,711,315