0001437749-24-026410 | 10-Q | XBRL Viewer

Note 2 - Investments - Schedule of Cost or Amortized cost and Estimated Fair Values of Investments (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Amortized Cost	$ 119,495,174	$ 119,336,041
Debt Securities, Available-for-Sale	109,696,001	110,955,697
Gross Unrealized Gains	387,735	724,472
Gross Unrealized Losses	(10,186,908)	(9,104,816)
Fixed maturity securities, amortized cost	119,495,174	119,336,041
US Treasury Securities [Member]
Amortized Cost	1,351,270	1,351,768
Debt Securities, Available-for-Sale	1,305,930	1,289,774
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(45,340)	(61,994)
Fixed maturity securities, amortized cost	1,351,270	1,351,768
MBS,ABS,CMBS [Member]
Amortized Cost	49,097,426	49,400,028
Debt Securities, Available-for-Sale	46,381,480	47,020,328
Gross Unrealized Gains	228,289	283,957
Gross Unrealized Losses	(2,944,235)	(2,663,657)
Fixed maturity securities, amortized cost	49,097,426	49,400,028
Corporate Debt Securities [Member]
Amortized Cost	46,263,052	45,764,492
Debt Securities, Available-for-Sale	42,672,106	42,981,718
Gross Unrealized Gains	74,481	287,412
Gross Unrealized Losses	(3,665,427)	(3,070,186)
Fixed maturity securities, amortized cost	46,263,052	45,764,492
US States and Political Subdivisions Debt Securities [Member]
Amortized Cost	22,597,034	22,633,360
Debt Securities, Available-for-Sale	19,163,206	19,493,317
Gross Unrealized Gains	84,965	153,103
Gross Unrealized Losses	(3,518,793)	(3,293,146)
Fixed maturity securities, amortized cost	22,597,034	22,633,360
Redeemable Preferred Stock [Member]
Amortized Cost	186,392	186,393
Debt Securities, Available-for-Sale	173,279	170,560
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(13,113)	(15,833)
Fixed maturity securities, amortized cost	$ 186,392	$ 186,393

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481830/320-10-45-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479130/326-30-45-1

+ Details

Note 1 - Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

Property, Plant and Equipment [Table Text Block]

	*As of*
	*June 30,*			*December 31,*
	*2024*			*2023*
Automobiles	$	693,489		$	645,458
Furniture and fixtures		530,817			525,843
Computer equipment and software		5,228,193			5,037,301
Home office		4,171,808			4,106,796
Total cost		10,624,307			10,315,398
Accumulated depreciation		(7,270,456	)		(6,990,076	)
Net property and equipment	$	3,353,851		$	3,325,322

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]


	*Six-Months Ended June 30,*
	*2024*			*2023*
Beginning balance	$	(6,621,336	)	$	(8,841,517	)
Other comprehensive (loss) earnings before reclassification		(1,137,192	)		791,025
Amount reclassified from accumulated other comprehensive earnings		17,048			40,999
Net current period other comprehensive (loss) earnings		(1,120,144	)		832,024
Ending balance	$	(7,741,480	)	$	(8,009,493	)

Comprehensive Income (Loss) [Table Text Block]

	*Three-Month Periods Ended June 30,*
	*2024*									*2023*
	*Pre-tax*			*Tax*			*After-tax*			*Pre-tax*			*Tax*			*After-tax*
Other comprehensive loss, net of tax
Unrealized gains and losses on AFS investments:
Unrealized holding losses arising during the period	$	(630,383	)	$	132,380		$	(498,003	)	$	(978,883	)	$	205,566		$	(773,317	)
Reclassification adjustment for losses included in net earnings		22,747			(4,776	)		17,971			11,378			(2,390	)		8,988
Total other comprehensive loss	$	(607,636	)	$	127,604		$	(480,032	)	$	(967,505	)	$	203,176		$	(764,329	)

	*Six-Month Periods Ended June 30,*
	*2024*									*2023*
	*Pre-tax*			*Tax*			*After-tax*			*Pre-tax*		*Tax*			*After-tax*
Other comprehensive (loss) earnings, net of tax
Unrealized gains and losses on AFS investments:
Unrealized holding (losses) gains arising during the period	$	(1,439,484	)	$	302,292		$	(1,137,192	)	$	1,001,297	$	(210,272	)	$	791,025
Reclassification adjustment for losses included in net earnings		21,580			(4,532	)		17,048			51,897		(10,898	)		40,999
Total other comprehensive (loss) earnings	$	(1,417,904	)	$	297,760		$	(1,120,144	)	$	1,053,194	$	(221,170	)	$	832,024

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

*Amounts Reclassified from*
*Accumulated Other Comprehensive Loss*
	*Six-Month Periods Ended*
Details about Accumulated Other	*June 30,*						*Affected Line Item in the Statement*
Comprehensive Earnings Component	*2024*			*2023*			*where Net Earnings is Presented*
Unrealized losses on AFS investments:
	$	21,580		$	51,897		Net realized investment losses
		(4,532	)		(10,898	)	Income tax (benefit)
Total reclassification adjustment, net of tax	$	17,048		$	40,999

Note 8 - Employee Benefits - Restricted Stock Unit Activity (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Nonvested Balance (in shares) \| shares	19,787
Nonvested, Weighted Average Grant Date Fair Value (in dollars per share) \| $ / shares	$ 15.87
Granted, Restricted Stock Units (in shares) \| shares	20,100
Granted, Weighted Average Grant Date Fair Value (in dollars per share) \| $ / shares	$ 16
Vested, Restricted Stock Units (in shares) \| shares	(13,977)
Vested, Weighted Average Grant Date Fair Value (in dollars per share) \| $ / shares	$ 29.67
Nonvested Balance (in shares) \| shares	25,910
Nonvested, Weighted Average Grant Date Fair Value (in dollars per share) \| $ / shares	$ 15.95

Note 2 - Investments

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

2.	INVESTMENTS

The Company’s investments are primarily composed of fixed income debt securities and common and preferred equity securities. We carry our equity securities at fair value and categorize all our fixed maturity debt securities as available-for-sale (AFS), which are carried at fair value. When available, quoted market prices are obtained to determine fair value for the Company’s investments. If a quoted market price is not available, fair value is estimated using a secondary pricing source or using quoted market prices of similar securities. The Company has no investment securities for which fair value is determined using Level 3 inputs as defined in Note 3 – Fair Value Disclosures. Realized gains and losses on disposition of investments are based on specific identification of the investments sold on the settlement date, which does not differ significantly from trade date accounting.

Available-for-Sale Fixed Maturity and Equity Securities

The following tables are a summary of the proceeds from sales, maturities, and calls of AFS fixed maturity and equity securities and the related gross realized gains and losses.

	*For the Three-Months Ended June 30,*
								*Net Realized*
	*Proceeds*		*Gains*		*Losses*			*Gains (Losses)*
2024
Fixed maturity securities	$	4,765,939	$	7,345	$	(30,092	)	$	(22,747	)
Common stocks		118,963		33,469		(13,377	)		20,092
Preferred stocks		124,375		—		(365	)		(365	)
2023
Fixed maturity securities	$	4,512,342	$	—	$	(11,378	)	$	(11,378	)
Common stocks		1,246,265		278,790		(121,760	)		157,030
Preferred stocks		241,812		4,959		(6,599	)		(1,640	)

	*For the Six-Months Ended June 30,*
								*Net Realized*
	*Proceeds*		*Gains*		*Losses*			*Gains (Losses)*
2024
Fixed maturity securities	$	9,060,460	$	8,512	$	(30,092	)	$	(21,580	)
Common stocks		824,406		283,106		(83,434	)		199,672
Preferred stocks		369,888		1,409		(31,835	)		(30,426	)
2023
Fixed maturity securities	$	8,342,783	$	-	$	(51,898	)	$	(51,898	)
Common stocks		2,024,336	$	404,791	$	(307,218	)	$	97,573
Preferred stocks		337,440	$	29,371	$	(6,599	)	$	22,772

The amortized cost and estimated fair value of fixed income securities at June 30, 2024, by contractual maturity, are shown as follows:

	*Amortized Cost*		*Fair Value*
Due in one year or less	$	3,599,395	$	3,541,372
Due after one year through five years		15,021,950		14,405,515
Due after five years through 10 years		25,349,040		23,585,893
Due after 10 years		26,240,971		21,608,462
Asset and mortgage-backed securities without a specific due date		49,097,426		46,381,480
Redeemable preferred stocks		186,392		173,279
Total fixed maturity securities	$	119,495,174	$	109,696,001

Expected maturities may differ from contractual maturities due to call provisions on some existing securities.

The following table is a schedule of amortized cost and estimated fair values of investments in securities classified as available for sale at June 30, 2024 and December 31, 2023:

					*Gross Unrealized*
	*Amortized Cost*		*Fair Value*		*Gains*		*Losses*
2024
Fixed maturity securities:
U.S. Treasury	$	1,351,270	$	1,305,930	$	—	$	(45,340	)
MBS/ABS/CMBS		49,097,426		46,381,480		228,289		(2,944,235	)
Corporate		46,263,052		42,672,106		74,481		(3,665,427	)
Municipal		22,597,034		19,163,206		84,965		(3,518,793	)
Redeemable preferred stock		186,392		173,279		—		(13,113	)
Total fixed maturity securities	$	119,495,174	$	109,696,001	$	387,735	$	(10,186,908	)

					*Gross Unrealized*
	*Amortized Cost*		*Fair Value*		*Gains*		*Losses*
2023
Fixed maturity securities:
U.S. Treasury	$	1,351,768	$	1,289,774	$	—	$	(61,994	)
MBS/ABS/CMBS		49,400,028		47,020,328		283,957		(2,663,657	)
Corporate		45,764,492		42,981,718		287,412		(3,070,186	)
Municipal		22,633,360		19,493,317		153,103		(3,293,146	)
Redeemable preferred stock		186,393		170,560		—		(15,833	)
Total fixed maturity securities	$	119,336,041	$	110,955,697	$	724,472	$	(9,104,816	)

All the Company’s collateralized securities carry an average credit rating of AA by one or more major rating agencies and continue to pay according to contractual terms. Included within MBS/ABS/CMBS, as defined in Note 3 – Fair Value Disclosures, are asset backed securities with fair values of $8,048,853 and $8,462,540, residential mortgage-backed securities of $33,332,003 and $32,928,128, and commercial mortgage-backed securities of $5,000,624 and $5,629,659 at June 30, 2024 and December 31, 2023, respectively. The Company has recorded no current expected credit loss (CECL) allowances related to available for sale investments at June 30, 2024 and December 31, 2023, respectively.

ANALYSIS

The following tables display the total value of securities that were in an unrealized loss position as of June 30, 2024 and December 31, 2023. The tables segregate the securities based on type, noting the fair value, amortized cost, and unrealized loss on each category of investment as well as in total. The tables further classifies the securities based on the length of time they have been in an unrealized loss position.

	*June 30, 2024*									*December 31, 2023*
				*12 Months*									*12 Months*
	*< 12 Months*			*& Greater*			*Total*			*< 12 Months*			*& Greater*			*Total*
Fixed Maturity Securities:
U.S. Treasury
Fair value	$	—		$	1,305,930		$	1,305,930		$	—		$	1,289,774		$	1,289,774
Amortized cost		—			1,351,270			1,351,270			—			1,351,768			1,351,768
Unrealized loss		—			(45,340	)		(45,340	)		—			(61,994	)		(61,994	)
MBS/ABS/CMBS
Fair value		6,933,780			22,571,843			29,505,623			8,345,340			24,323,865			32,669,205
Amortized cost		7,038,812			25,411,046			32,449,858			8,462,010			26,870,852			35,332,862
Unrealized loss		(105,032	)		(2,839,203	)		(2,944,235	)		(116,670	)		(2,546,987	)		(2,663,657	)
Corporate
Fair value		6,850,575			30,480,416			37,330,991			477,051			33,352,754			33,829,805
Amortized cost		7,011,243			33,985,175			40,996,418			478,370			36,421,621			36,899,991
Unrealized loss		(160,668	)		(3,504,759	)		(3,665,427	)		(1,319	)		(3,068,867	)		(3,070,186	)
Municipal
Fair value		4,470,276			11,966,015			16,436,291			—			12,149,238			12,149,238
Amortized cost		4,530,820			15,424,264			19,955,084			—			15,442,384			15,442,384
Unrealized loss		(60,544	)		(3,458,249	)		(3,518,793	)		—			(3,293,146	)		(3,293,146	)
Redeemable preferred stock
Fair value		72,973			100,307			173,280			149,240			21,320			170,560
Amortized cost		76,968			109,425			186,393			161,549			24,844			186,393
Unrealized loss		(3,995	)		(9,118	)		(13,113	)		(12,309	)		(3,524	)		(15,833	)
Total
Fair value		18,327,604			66,424,511			84,752,115			8,971,631			71,136,951			80,108,582
Amortized cost		18,657,843			76,281,180			94,939,023			9,101,929			80,111,469			89,213,398
Unrealized loss	$	(330,239	)	$	(9,856,669	)	$	(10,186,908	)	$	(130,298	)	$	(8,974,518	)	$	(9,104,816	)

The fixed income portfolio contained 225 securities in an unrealized loss position as of June 30, 2024. Of these 225 securities, 191 have been in an unrealized loss position for 12 consecutive months or longer and represent $9,856,669 in unrealized losses. All fixed income securities in the investment portfolio continue to pay the expected coupon payments under the contractual terms of the securities. Credit-related impairments on fixed income securities that we do not plan to sell, and for which we are not more likely than not to be required to sell, are recognized in net earnings. Any non-credit related impairment is recognized in comprehensive earnings. Current unrealized losses are the result of rising interest rates. Based on management’s analysis, the fixed income portfolio is of a high credit quality, and it is believed it will recover the amortized cost basis of the fixed income securities. Management monitors the credit quality of the fixed income investments to assess if it is probable that the Company will receive its contractual or estimated cash flows in the form of principal and interest.

There were no CECL allowances from the fixed income portfolio recognized in net earnings during the six months ended June 30, 2024 and 2023. In addition, the Company is not required to, nor does it intend to sell these investments prior to recovering the entire amortized cost basis for each security, which may be at maturity.

UNREALIZED GAINS AND LOSSES ON INVESTMENTS

Net unrealized gains recognized during the three and six months ended June 30, 2024 on equity securities and limited partnership investments were $166,582 and $1,208,755. Net unrealized gains recognized during the three and six months ended June 30, 2023 on investments held as of June 30, 2023 were $564,734 and $1,093,684.

Other Invested Assets

Other invested assets as of June 30, 2024 and December 31, 2023 were $14,086,652 and $8,898,409, respectively. These amounts were net of $250,000 in CECL allowances. Other invested assets as of June 30, 2024 include privately held investments of $2,490,843, notes receivable of $10,601,611, Funds at Lloyd's of $819,198 and a $425,000 membership in the Federal Home Loan Bank of Chicago (FHLBC). As of December 31, 2023, privately held investments were $2,197,232, notes receivable were $5,495,979, Funds at Lloyd's were 819,198, and the membership in FHLBC was $425,000.

As of June 30, 2024, privately held investments are comprised of a $2,026,393 limited partnership accounted for under the equity method with a three month lag, a $250,000 SAFE investment carried at cost, and $214,450 in stock carried at fair value. In November 2021, we agreed to commit up to $10.0 million to a private investment fund, subject to regulatory approval, which may be callable from time to time by such fund. As of June 30, 2024, the Company has received calls for $1,949,134 for a limited partnership from the private investment fund. Our balance available for future endeavors with the private investment fund is $8,050,866 as of June 30, 2024. As of December 31, 2023, privately held investments are comprised of a $1,734,622 limited partnership accounted for under the equity method with a three month lag, a $250,000 SAFE investment carried at cost, and $212,610 in stock carried at fair value. As of December 31, 2023, the Company received calls for $1,949,134 for the limited partnership.

Notes receivable are carried at outstanding value plus accrued interest. As of June 30, 2024, most of the notes receivable bear interest between 3.9% and 8.25%. One note has interest at prime minus 25 basis points with a floor of 4.0%. The Company had $250,000 in CECL allowances recorded related to notes receivables at June 30, 2024.

The Funds at Lloyd's are valued using the equity method. The membership in the FHLBC is carried at cost.

Note 2 - Investments - Contractual Maturity of Fixed Income Securities (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Due in one year or less, amortized cost	$ 3,599,395
Due in one year or less, fair value	3,541,372
Due after one year through five years, amortized cost	15,021,950
Due after one year through five years, fair value	14,405,515
Due after five years through 10 years, amortized cost	25,349,040
Due after five years through 10 years, fair value	23,585,893
Due after 10 years, amortized cost	26,240,971
Due after 10 years, fair value	21,608,462
Total fixed maturity securities, amortized cost	119,495,174	$ 119,336,041
Total fixed maturity securities, fair value	109,696,001	110,955,697
Collateralized Mortgage-Backed Securities [Member]
Securities without a specific due date, amortized cost	49,097,426
Securities without a specific due date, fair value	46,381,480
Securities without a specific due date, amortized cost	49,097,426
Redeemable Preferred Stock [Member]
Securities without a specific due date, amortized cost	186,392
Securities without a specific due date, fair value	173,279
Securities without a specific due date, amortized cost	186,392
Total fixed maturity securities, amortized cost	186,392	186,393
Total fixed maturity securities, fair value	$ 173,279	$ 170,560

Note 8 - Employee Benefits (Tables)

6 Months Ended

Jun. 30, 2024

Restricted Stock Units (RSUs) [Member]

Notes Tables

Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

	*RSUs*			*Weighted Average Grant Date Fair Value*
Nonvested on December 31, 2023		19,787		$	15.87
Granted		20,100			16.00
Vested		(13,977	)		29.67
Nonvested on June 30, 2024		25,910		$	15.95

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)		3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 08, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jan. 01, 2023
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.01		$ 0.01		$ 0.01
Retained Earnings (Accumulated Deficit)		$ 49,351,697		$ 49,351,697		$ 47,844,368
Tangible Asset Impairment Charges				$ 0		$ 0
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				21.00%	21.00%
Finite-Lived Intangible Assets, Gross		$ 1,000,000		$ 1,000,000
Cumulative Effect, Period of Adoption, Adjustment [Member] \| Accounting Standards Update 2016-13 [Member]
Retained Earnings (Accumulated Deficit)							$ 113,760
Mutual Capital Holdings [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01
Business Acquisition, Share Price (in dollars per share)	$ 23.5
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 73,800,000
Premiums [Member] \| Geographic Concentration Risk [Member] \| ILLINOIS
Concentration Risk, Percentage		20.90%	24.20%	21.30%	23.60%

Note 4 - Debt (Details Textual) - USD ($)		6 Months Ended
Note 4 - Debt (Details Textual) - USD ($)	Jul. 05, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Long-Term Debt		$ 15,000,000		$ 15,000,000
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Prime Rate [Member]
Revolving Credit Facility [Member] \| Quad City Bank & Trust [Member]
Debt Instrument, Collateral Amount		4,000,000
Long-Term Line of Credit, Total		0
Debt Instrument, Basis Spread on Variable Rate	0.54%
Line of Credit Facility, Maximum Borrowing Capacity		4,000,000
Debt Covenant Adjusted Capital		21,000,000
Revolving Credit Facility [Member] \| Quad City Bank & Trust [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	6.00%
Revolving Credit Facility [Member] \| American Bank & Trust [Member]
Interest Expense, Operating and Nonoperating		0	$ 0
One Loan [Member]
Debt Instrument, Face Amount		$ 6,000,000
Debt Instrument, Interest Rate, Stated Percentage		1.40%
Federal Home Loan Bank of Chicago [Member]
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available		$ 48,200,000
Line of Credit Facility Maximum Borrowing Capacity Percent		25.00%
Advance from Federal Home Loan Bank		$ 15,000,000
Debt Instrument, Term (Year)		5 years
Debt, Weighted Average Interest Rate		1.21%
Debt Instrument, Collateral Amount		$ 18,600,000

Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Effective Income Tax Rate Reconciliation, Percent	21.70%	20.60%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%
Tax Credit Carryforward, Amount	$ 0		$ 0
Open Tax Year			2020 2021 2022 2023 2024
Operating Loss Carryforwards	$ 0		$ 0

Note 1 - Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]

1.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A.	DESCRIPTION OF BUSINESS

ICC Holdings, Inc. is a Pennsylvania corporation that was organized in 2016. As used in this Form 10-Q, references to the "Company," "we," "us," and "our" refer to the consolidated group. On a stand-alone basis ICC Holdings, Inc. is referred to as the "Parent Company." The consolidated group consists of the holding company, ICC Holdings, Inc.; Two Rivers Realty Investments, LLC, a real estate services and holding company; Beverage Insurance Agency, Inc., dba Beverage Insurance Specialty, a wholesale insurance agency; Estrella Innovative Solutions, Inc., an outsourcing company; Southern Hospitality Education, LLC, dba Katkin, a full-service food safety and education company; Guild Insurance Inc. (Guild), an operating insurance agency acquired in October 2023; and Illinois Casualty Company (ICC), an operating insurance company. ICC is an Illinois domiciled company. ICC owns Two Rivers Investment Properties, LLC, a real estate services and holding company, and ICC Re Limited, a vehicle to participate in various Lloyd's of London (Lloyd's) syndicate's underwriting activity.

We are a specialty insurance carrier primarily underwriting commercial multi-peril, liquor liability, workers’ compensation, and umbrella liability coverages for the food and beverage industry through our subsidiary insurance company, ICC. ICC writes business in Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Ohio, Pennsylvania, Tennessee, Utah, and Wisconsin and markets through independent agents. Approximately 20.9% and 24.2% of the premium is written in Illinois for the three months ended June 30, 2024 and 2023, respectively. For the six months ended June 30, 2024 and 2023, approximately 21.3% and 23.6%, respectively, of the premium is written in Illinois. The Company operates as one segment.

On June 8, 2024, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Mutual Capital Holdings, Inc., a Pennsylvania corporation ("Parent"), and Mutual Capital Merger Sub, Inc., a Pennsylvania corporation and a wholly owned subsidiary of Parent ("Merger Sub"). Pursuant to the Merger Agreement and subject to the satisfaction or waiver of the conditions set forth therein, Merger Sub will be merged with and into the Company, with the Company continuing as the surviving corporation and a wholly owned subsidiary of Parent (the "Merger"). As a result of the Merger, each issued and outstanding share of the Company’s common stock, par value $0.01 per share (the "Company Common Stock") (other than shares owned by the Company as treasury stock), will be converted into the right to receive $23.50 in cash, without interest, representing a total equity value of approximately $73.8 million. The closing of the Merger is subject to certain conditions, including (i) the approval and adoption of the Merger Agreement by the holders of a majority of the voting power of the Company's Common Stock, (ii) the receipt of authorizations required to be obtained from applicable insurance regulators, and (iii) other customary conditions. For each of the Company and Parent, the obligation to complete the Merger is also subject to the accuracy of the representations and warranties of, and compliance with covenants by, the other party, in accordance with the materiality standards set forth in the Merger Agreement. For a description of the treatment of equity awards under the Merger Agreement, see the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on June 10, 2024.

B.	PRINCIPLES OF CONSOLIDATION AND BASIS OF PRESENTATION

The unaudited condensed consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial reporting and with the instructions to Form 10-Q. Accordingly, they do not include all the disclosures required by GAAP for complete financial statements. As such, these unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K, for the year ended December 31, 2023 (the “2023 10-K”). Management believes that the disclosures are adequate to make the information presented not misleading, and all normal and recurring adjustments necessary to present fairly the financial position at June 30, 2024 the results of operations of the Company and its subsidiaries for all periods presented have been made. The results of operations for any interim period are not necessarily indicative of the operating results for a full year.

The preparation of the unaudited condensed consolidated interim financial statements requires management to make estimates and assumptions relating to the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated interim financial statements, and the reported amounts of revenue and expenses during the period. These amounts are inherently subject to change and actual results could differ significantly from these estimates.

C.	SIGNIFICANT ACCOUNTING POLICIES

On January 1, 2023, the Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 was issued to improve the recognition and measurement of credit losses and to provide more decision-useful information about those losses. This new impairment model is based on the expected losses rather than incurred losses. ASU 2016-13 requires that a financial asset measured at amortized cost be presented at the net amount expected to be collected by means of an allowance for credit losses that is included in net earnings. Credit losses relating to available-for-sale debt securities are also required to be recorded through a reversible allowance for credit losses but is limited to the amount by which the fair value is less than amortized cost. The Company applied this standard to fixed maturity securities, accrued interest, premiums and reinsurance balances receivable, reinsurance balances recoverable on unpaid losses and settlement expenses, and other assets using the loss-rate method. In total, the cumulative-effect adjustment made to the financials as of the beginning of 2023 resulted in a $113,760 decrease in retained earnings.

D.	PROSPECTIVE ACCOUNTING STANDARDS

There are no prospective accounting standards that would have a material impact on our financial statements as of June 30, 2024.

E.	PROPERTY AND EQUIPMENT

Annually, the Company reviews the major asset classes of property and equipment held for impairment. As of June 30, 2024 and December 31, 2023, the Company recognized no impairments. Property and equipment are summarized as follows:

	*As of*
	*June 30,*			*December 31,*
	*2024*			*2023*
Automobiles	$	693,489		$	645,458
Furniture and fixtures		530,817			525,843
Computer equipment and software		5,228,193			5,037,301
Home office		4,171,808			4,106,796
Total cost		10,624,307			10,315,398
Accumulated depreciation		(7,270,456	)		(6,990,076	)
Net property and equipment	$	3,353,851		$	3,325,322

F.	COMPREHENSIVE EARNINGS

Comprehensive (loss) earnings include net earnings (loss) plus unrealized gains (losses) on available-for-sale investment securities, net of tax. In reporting the components of comprehensive earnings on a net basis in the statement of earnings and comprehensive earnings, the Company used a 21% tax rate.

The following table presents changes in accumulated other comprehensive (loss) earnings for unrealized gains and losses on available-for-sale securities:


	*Six-Months Ended June 30,*
	*2024*			*2023*
Beginning balance	$	(6,621,336	)	$	(8,841,517	)
Other comprehensive (loss) earnings before reclassification		(1,137,192	)		791,025
Amount reclassified from accumulated other comprehensive earnings		17,048			40,999
Net current period other comprehensive (loss) earnings		(1,120,144	)		832,024
Ending balance	$	(7,741,480	)	$	(8,009,493	)

The following table illustrates the components of other comprehensive earnings (loss) for each period presented in the condensed consolidated interim financial statements.

	*Three-Month Periods Ended June 30,*
	*2024*									*2023*
	*Pre-tax*			*Tax*			*After-tax*			*Pre-tax*			*Tax*			*After-tax*
Other comprehensive loss, net of tax
Unrealized gains and losses on AFS investments:
Unrealized holding losses arising during the period	$	(630,383	)	$	132,380		$	(498,003	)	$	(978,883	)	$	205,566		$	(773,317	)
Reclassification adjustment for losses included in net earnings		22,747			(4,776	)		17,971			11,378			(2,390	)		8,988
Total other comprehensive loss	$	(607,636	)	$	127,604		$	(480,032	)	$	(967,505	)	$	203,176		$	(764,329	)

	*Six-Month Periods Ended June 30,*
	*2024*									*2023*
	*Pre-tax*			*Tax*			*After-tax*			*Pre-tax*		*Tax*			*After-tax*
Other comprehensive (loss) earnings, net of tax
Unrealized gains and losses on AFS investments:
Unrealized holding (losses) gains arising during the period	$	(1,439,484	)	$	302,292		$	(1,137,192	)	$	1,001,297	$	(210,272	)	$	791,025
Reclassification adjustment for losses included in net earnings		21,580			(4,532	)		17,048			51,897		(10,898	)		40,999
Total other comprehensive (loss) earnings	$	(1,417,904	)	$	297,760		$	(1,120,144	)	$	1,053,194	$	(221,170	)	$	832,024

The following table provides the reclassifications from accumulated other comprehensive earnings for the periods presented:

*Amounts Reclassified from*
*Accumulated Other Comprehensive Loss*
	*Six-Month Periods Ended*
Details about Accumulated Other	*June 30,*						*Affected Line Item in the Statement*
Comprehensive Earnings Component	*2024*			*2023*			*where Net Earnings is Presented*
Unrealized losses on AFS investments:
	$	21,580		$	51,897		Net realized investment losses
		(4,532	)		(10,898	)	Income tax (benefit)
Total reclassification adjustment, net of tax	$	17,048		$	40,999

G.	RISKS AND UNCERTAINTIES

Certain risks and uncertainties are inherent to our day-to-day operations. Adverse changes in the economy could lower demand for our insurance products or negatively impact our investment results, both of which could have an adverse effect on the revenue and profitability of our operations. War, terrorism, supply chain disruptions, labor shortages and tightening, inflation and related monetary policy responses, and recession fears are also causing volatility and disruptions in credit and capital markets, adverse developments or general investor sentiment regarding the value of our investment securities as a result of rising interest rates or otherwise, and the business prospects of the industry we serve. The cumulative effects of these events on the Company cannot be predicted, but could reduce demand for our insurance policies, result an in increased level of losses, settlement expenses or other operating costs, or reduce the market value of invested assets held by the Company.

H.	INTANGIBLES

Intangible assets of $1.0 million are reported within Other Assets on the Consolidated Balance Sheets. Finite-lived intangible assets are amortized over their estimated useful lives.

Note 2 - Investments (Details Textual)	6 Months Ended
Note 2 - Investments (Details Textual)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Nov. 30, 2021 USD ($)
Debt Securities, Available-for-Sale	$ 109,696,001		$ 110,955,697
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	9,856,669		8,974,518
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Gain	166,582		1,208,755	$ 564,734	$ 1,093,684
Other Investments	14,086,652		8,898,409
Financing Receivable, Allowance for Credit Loss	250,000		250,000
Investment, Funding Available for Future Investment	$ 8,050,866
Investment, Variable Interest Rate, Type [Extensible Enumeration]	Prime Rate [Member]
Federal Home Loan Bank of Chicago [Member]
Other Investments	$ 425,000	$ 425,000
Notes Receivable [Member]
Other Investments	10,601,611		5,495,979
Privately Held Investments [Member]
Other Investments	2,490,843		2,197,232
Funds at Lloyds [Member]
Other Investments	819,198		819,198
Limited Partnership [Member]
Other Investments	2,026,393		1,734,622
SAFE Investment [Member]
Other Investments	250,000		250,000
Stocks [Member]
Other Investments	214,450		212,610
Private Investment Fund [Member]
Other Investments						$ 10,000,000
Investment Request Amount	1,949,134		1,949,134
Notes Issued on July 30, 2019 [Member]
Financing Receivable, Allowance for Credit Loss	$ 250,000
Loans Receivable, Basis Spread on Variable Rate	0.25%
Notes Issued on July 30, 2019 [Member] \| Minimum [Member]
Financing Receivable, Interest Rate	3.90%
Loans Receivable, Basis Spread on Variable Rate	4.00%
Notes Issued on July 30, 2019 [Member] \| Maximum [Member]
Financing Receivable, Interest Rate	8.25%
Asset-Backed Securities [Member]
Debt Securities, Available-for-Sale	$ 8,048,853		8,462,540
Residential Mortgage-Backed Securities [Member]
Debt Securities, Available-for-Sale	33,332,003		32,928,128
Commercial Mortgage-Backed Securities [Member]
Debt Securities, Available-for-Sale	5,000,624		5,629,659
Fixed Income Securities [Member]
Debt Securities, Available-for-Sale, Allowance for Credit Loss	$ 0		$ 0
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	225
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions	191
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 9,856,669

Note 5 - Reinsurance - Summary of Effects of Reinsurance (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Direct WRITTEN	$ 25,390,896	$ 23,589,667	$ 49,126,455	$ 44,404,193
Reinsurance assumed WRITTEN	(24,174)	36,387	23,602	75,113
Reinsurance ceded WRITTEN	(3,680,899)	(2,654,089)	(7,020,230)	(4,994,729)
Net WRITTEN	21,685,823	20,971,965	42,129,827	39,484,577
Direct EARNED	24,077,573	21,167,168	47,622,577	41,410,604
Reinsurance assumed EARNED	(14,213)	31,109	33,407	72,811
Reinsurance ceded EARNED	(3,665,167)	(2,704,224)	(7,035,425)	(5,188,065)
Net EARNED	20,398,193	18,494,053	40,620,559	36,295,350
Direct	14,420,431	12,633,975	28,539,882	25,900,404
Reinsurance assumed	(40,615)	31,178
Reinsurance ceded	173,252	(450,667)
Net	14,553,068	12,214,486	26,889,996	23,262,167
Direct WRITTEN	25,390,896	23,589,667	49,126,455	44,404,193
Reinsurance assumed WRITTEN	(24,174)	36,387	23,602	75,113
Direct EARNED	24,077,573	21,167,168	47,622,577	41,410,604
Reinsurance assumed EARNED	(14,213)	31,109	33,407	72,811
Direct	$ 14,420,431	$ 12,633,975	28,539,882	25,900,404
Reinsurance assumed			23,107	40,419
Reinsurance ceded			$ (1,672,993)	$ (2,678,656)

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2024	Aug. 07, 2024
Document Information [Line Items]
Entity Central Index Key	0001681903
Entity Registrant Name	ICC Holdings, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-38046
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	81-3359409
Entity Address, Address Line One	225 20th Street
Entity Address, City or Town	Rock Island
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	61201
City Area Code	309
Local Phone Number	793-1700
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ICCH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		3,142,973

Condensed Consolidated Statements of Earnings and Comprehensive Earnings (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net premiums earned	$ 20,398,193	$ 18,494,053	$ 40,620,559	$ 36,295,350
Net investment income	1,540,014	1,246,759	2,980,216	2,456,174
Net realized investment (losses) gains	(3,020)	144,012	147,666	68,447
Net unrealized gains on investments	246,970	702,014	1,520,860	1,341,432
Other (loss) income	(5,060)	63,878	(10,097)	109,714
Consolidated revenues	22,177,097	20,650,716	45,259,204	40,271,117
Losses and settlement expenses	14,553,068	12,214,486	26,889,996	23,262,167
Policy acquisition costs and other operating expenses	8,081,721	7,444,806	15,744,820	13,794,387
Interest expense on debt	45,905	45,904	91,809	91,304
General corporate expenses	405,923	202,537	606,693	396,211
Total expenses	23,086,617	19,907,733	43,333,318	37,544,069
(Loss) earnings before income taxes	(909,520)	742,983	1,925,886	2,727,048
Total income tax (benefit) expense	(177,644)	156,494	418,557	562,014
Net (loss) earnings	(731,876)	586,489	1,507,329	2,165,034
Other comprehensive loss, net of tax	(480,032)	(764,329)	(1,120,144)	832,024
Comprehensive loss	$ (1,211,908)	$ (177,840)	$ 387,185	$ 2,997,058
Basic:
Basic net (loss) earnings per share (in dollars per share)	$ (0.25)	$ 0.2	$ 0.51	$ 0.74
Diluted:
Diluted net (loss) earnings per share (in dollars per share)	$ (0.25)	$ 0.2	$ 0.51	$ 0.73
Weighted average number of common shares outstanding:
Basic (in shares)	2,962,944	2,941,856	2,952,148	2,942,543
Diluted (in shares)	2,988,854	2,969,288	2,978,057	2,969,975
Net premiums earned	$ 20,398,193	$ 18,494,053	$ 40,620,559	$ 36,295,350
Net investment income	1,540,014	1,246,759	2,980,216	2,456,174
Net realized investment (losses) gains	(3,020)	144,012	147,666	68,447
Net unrealized gains on investments	246,970	702,014	1,520,860	1,341,432
Other (loss) income	(5,060)	63,878	(10,097)	109,714
Consolidated revenues	22,177,097	20,650,716	45,259,204	40,271,117
Losses and settlement expenses	14,553,068	12,214,486	26,889,996	23,262,167
Policy acquisition costs and other operating expenses	8,081,721	7,444,806	15,744,820	13,794,387
Interest expense on debt	45,905	45,904	91,809	91,304
General corporate expenses	405,923	202,537	606,693	396,211
Total expenses	23,086,617	19,907,733	43,333,318	37,544,069
(Loss) earnings before income taxes	(909,520)	742,983	1,925,886	2,727,048
Total income tax (benefit) expense	(177,644)	156,494	418,557	562,014
Net (loss) earnings	(731,876)	586,489	1,507,329	2,165,034
Other comprehensive loss, net of tax	(480,032)	(764,329)	(1,120,144)	832,024
Comprehensive loss	$ (1,211,908)	$ (177,840)	$ 387,185	$ 2,997,058

Note 4 - Debt

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Debt Disclosure [Text Block]

DEBT

Debt Obligation

Debt Obligations

The Company had $15,000,000 in outstanding debt as of June 30, 2024 and December 31, 2023.

The Company also has borrowing capacity of $48.2 million with the Federal Home Loan Bank of Chicago (FHLBC), which is 25% of net admitted statutory assets of Illinois Casualty Company as of the prior year-end. As of June 30, 2024, the Company has used $15.0 million of that capacity through three separate 5-year term loans expiring between 2025 and 2027, with a weighted average interest rate of 1.21%. One loan for $6.0 million with a 1.4% interest rate expires on March 18, 2025.

The Company has $18.6 million in bonds pledged as collateral for all FHLBC loans.

Revolving Line of Credit

As of June 30, 2024, the balance on the line of credit was $0. As of the July 5, 2024 renewal, this line of credit is priced at prime plus 0.54% with a floor of 6.00% and renews annually with a current expiration date of July 5, 2025. The Company has $4.0 million of available credit and has pledged $4.0 million of business assets in the event the Company draws down on the line of credit. This agreement includes an annually calculated financial debt covenant requiring a minimum total adjusted capital of $21.0 million. Total adjusted capital is the sum of an insurer’s statutory capital and surplus as determined in accordance with the statutory accounting principles applicable to the annual financial statements required to be filed with Illinois Department of Insurance. There was no interest paid on the line of credit during the six months ended June 30, 2024 and 2023.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Note 7 - Income Taxes (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	*For the Three-Months Ended*
	*June 30,*
	*2024*			*2023*
Provision for income taxes at the statutory federal tax rates	$	(190,999	)	$	156,026
Increase (reduction) in taxes resulting from:
Tax-exempt interest income		(7,906	)		(8,794	)
Dividends received deduction		(9,189	)		(20,275	)
Proration of tax-exempt interest and dividends received deduction		4,050			7,053
Nondeductible expenses		34,430			19,952
Officer life insurance, net		(3,130	)		2,532
Other		(4,900	)		—
Total	$	(177,644	)	$	156,494

	*For the Six-Months Ended*
	*June 30,*
	*2024*			*2023*
Provision for income taxes at the statutory federal tax rates	$	404,436		$	572,680
Increase (reduction) in taxes resulting from:
Tax-exempt interest income		(15,835	)		(18,866	)
Dividends received deduction		(19,254	)		(40,735	)
Proration of tax-exempt interest and dividends received deduction		8,333			14,470
Nondeductible expenses		50,345			35,043
Officer life insurance, net		(4,568	)		(578	)
Other		(4,900	)		—
Total	$	418,557		$	562,014

Note 1 - Summary of Significant Accounting Policies - Reclassifications from Accumulated Other Comprehensive Earnings (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Net realized investment gains	$ 3,020		$ (144,012)		$ (147,666)	$ (68,447)
Income Tax Expense (Benefit)	(177,644)		156,494		418,557	562,014
Net earnings	$ (731,876)	$ 2,239,205	$ 586,489	$ 1,578,545	1,507,329	2,165,034
Reclassification out of Accumulated Other Comprehensive Income [Member]
Net earnings					17,048	40,999
Reclassification out of Accumulated Other Comprehensive Income [Member] \| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member]
Net realized investment gains					21,580	51,897
Income Tax Expense (Benefit)					$ (4,532)	$ (10,898)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

- Definition

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

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+ Details

Note 8 - Employee Benefits (Details Textual) - USD ($)	6 Months Ended
Note 8 - Employee Benefits (Details Textual) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares (in shares)	350,000
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased (in dollars per share)	$ 10
Employee Stock Ownership Plan (ESOP), Cash Contributions to ESOP	$ 0	$ 0
Employee Stock Ownership Plan (ESOP), Compensation Expense	$ 191,743	$ 184,827
Employee Stock Ownership Plan (ESOP), Number of Committed-to-be-Released Shares (in shares)	11,654	11,622
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years
Share-Based Payment Arrangement, Expense	$ 222,522	$ 112,221
Restricted Stock Units (RSUs) [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	0.33%

Note 2 - Investments - Fair Value of Securities in Unrealized Loss Position (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Fair value, less than 12 Months	$ 18,327,604	$ 8,971,631
Fair value, 12 months or longer	66,424,511	71,136,951
Fair value	84,752,115	80,108,582
Amortized cost, less than 12 Months	18,657,843	9,101,929
Amortized cost, 12 months or longer	76,281,180	80,111,469
Amortized cost	94,939,023	89,213,398
Unrealized loss, less than 12 Months	(330,239)	(130,298)
Unrealized loss, 12 months or longer	(9,856,669)	(8,974,518)
Unrealized loss	(10,186,908)	(9,104,816)
US Treasury Securities [Member]
Fair value, less than 12 Months	0	0
Fair value, 12 months or longer	1,305,930	1,289,774
Fair value	1,305,930	1,289,774
Amortized cost, less than 12 Months	0	0
Amortized cost, 12 months or longer	1,351,270	1,351,768
Amortized cost	1,351,270	1,351,768
Unrealized loss, less than 12 Months	0	0
Unrealized loss, 12 months or longer	(45,340)	(61,994)
Unrealized loss	(45,340)	(61,994)
MBS,ABS,CMBS [Member]
Fair value, less than 12 Months	6,933,780	8,345,340
Fair value, 12 months or longer	22,571,843	24,323,865
Fair value	29,505,623	32,669,205
Amortized cost, less than 12 Months	7,038,812	8,462,010
Amortized cost, 12 months or longer	25,411,046	26,870,852
Amortized cost	32,449,858	35,332,862
Unrealized loss, less than 12 Months	(105,032)	(116,670)
Unrealized loss, 12 months or longer	(2,839,203)	(2,546,987)
Unrealized loss	(2,944,235)	(2,663,657)
Corporate Debt Securities [Member]
Fair value, less than 12 Months	6,850,575	477,051
Fair value, 12 months or longer	30,480,416	33,352,754
Fair value	37,330,991	33,829,805
Amortized cost, less than 12 Months	7,011,243	478,370
Amortized cost, 12 months or longer	33,985,175	36,421,621
Amortized cost	40,996,418	36,899,991
Unrealized loss, less than 12 Months	(160,668)	(1,319)
Unrealized loss, 12 months or longer	(3,504,759)	(3,068,867)
Unrealized loss	(3,665,427)	(3,070,186)
US States and Political Subdivisions Debt Securities [Member]
Fair value, less than 12 Months	4,470,276	0
Fair value, 12 months or longer	11,966,015	12,149,238
Fair value	16,436,291	12,149,238
Amortized cost, less than 12 Months	4,530,820	0
Amortized cost, 12 months or longer	15,424,264	15,442,384
Amortized cost	19,955,084	15,442,384
Unrealized loss, less than 12 Months	(60,544)	0
Unrealized loss, 12 months or longer	(3,458,249)	(3,293,146)
Unrealized loss	(3,518,793)	(3,293,146)
Redeemable Preferred Stock [Member]
Fair value, less than 12 Months	72,973	149,240
Fair value, 12 months or longer	100,307	21,320
Fair value	173,280	170,560
Amortized cost, less than 12 Months	76,968	161,549
Amortized cost, 12 months or longer	109,425	24,844
Amortized cost	186,393	186,393
Unrealized loss, less than 12 Months	(3,995)	(12,309)
Unrealized loss, 12 months or longer	(9,118)	(3,524)
Unrealized loss	$ (13,113)	$ (15,833)

Note 5 - Reinsurance (Details Textual)	12 Months Ended
Note 5 - Reinsurance (Details Textual)	Dec. 31, 2023 USD ($)
Casualty Business [Member] \| Maximum [Member]
Reinsurance, Amount Retained, Per Life	$ 1,000,000
Property [Member]
Reinsurance Maximum Individual Risk	$ 1,000,000

Note 7 - Income Taxes

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Income Tax Disclosure [Text Block]

7.	INCOME TAXES

The Company’s effective tax rate for the six month periods ended June 30, 2024 was 21.7% compared to 20.6% for the same period in 2023. Effective rates are dependent upon components of pretax earnings and losses and the related tax effects.

Income tax expense for the six month periods ended June 30, 2024 and 2023 differed from the amounts computed by applying the U.S. federal tax rate of 21% to pretax income from continuing operations as demonstrated in the following table:

	*For the Three-Months Ended*
	*June 30,*
	*2024*			*2023*
Provision for income taxes at the statutory federal tax rates	$	(190,999	)	$	156,026
Increase (reduction) in taxes resulting from:
Tax-exempt interest income		(7,906	)		(8,794	)
Dividends received deduction		(9,189	)		(20,275	)
Proration of tax-exempt interest and dividends received deduction		4,050			7,053
Nondeductible expenses		34,430			19,952
Officer life insurance, net		(3,130	)		2,532
Other		(4,900	)		—
Total	$	(177,644	)	$	156,494

	*For the Six-Months Ended*
	*June 30,*
	*2024*			*2023*
Provision for income taxes at the statutory federal tax rates	$	404,436		$	572,680
Increase (reduction) in taxes resulting from:
Tax-exempt interest income		(15,835	)		(18,866	)
Dividends received deduction		(19,254	)		(40,735	)
Proration of tax-exempt interest and dividends received deduction		8,333			14,470
Nondeductible expenses		50,345			35,043
Officer life insurance, net		(4,568	)		(578	)
Other		(4,900	)		—
Total	$	418,557		$	562,014

Management believes it is more likely than not that all deferred tax assets will be recovered as the result of future operations, which will generate sufficient taxable income to realize the deferred tax asset.

As of June 30, 2024 and December 31, 2023, the Company does not have any capital or operating loss carryforwards. Periods still subject to IRS audit include 2020 through current year. There are currently no open tax exams. As of June 30, 2024 a significant portion of the Company's net deferred tax asset relates to unrealized losses on fixed income securities.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net earnings	$ 1,507,329	$ 2,165,034
Adjustments to reconcile net earnings to net cash provided by operating activities
Net realized investment gains	(147,666)	(68,447)
Net unrealized gains on investments	(1,520,860)	(1,341,432)
Depreciation	412,170	355,261
Deferred income tax	155,861	197,139
Amortization of bond premium and discount	(5,379)	51,928
Stock-based compensation expense	414,265	297,048
Change in:
Accrued investment income	(16,928)	(65,141)
Premiums and reinsurance balances receivable	30,488	(1,826,694)
Ceded unearned premiums	15,195	193,337
Reinsurance balances recoverable	362,323	(989,605)
Deferred policy acquisition costs	(305,069)	(915,464)
Unpaid losses and settlement expenses	7,344,288	8,970,320
Unearned premiums	1,494,073	2,995,890
Reinsurance balances payable	(232,787)	(766,122)
Accrued expenses	(698,575)	(1,045,891)
Current federal income tax	(736,668)	(271,895)
Other	(182,300)	(137,807)
Net cash provided by operating activities	7,889,760	7,797,459
Cash flows from investing activities:
Fixed maturity securities	(9,244,280)	(12,948,130)
Other invested assets	(4,986,600)	(3,346,778)
Property held for investment	(470,923)	(962,979)
Property and equipment	(349,877)	(283,165)
Proceeds from sales, maturities and calls of:
Fixed maturity securities	9,060,460	8,342,783
Other invested assets	91,967	17,657
Property held for investment	147,377	1,141,911
Property and equipment	2,344	2,800
Net cash used in investing activities	(5,755,289)	(7,135,740)
Cash flows from financing activities:
Purchase of treasury stock	(191,322)	(267,237)
Net cash used in financing activities	(191,322)	(267,237)
Net increase in cash and cash equivalents	1,943,149	394,482
Cash and cash equivalents at beginning of year	1,478,135	3,139,986
Cash and cash equivalents at end of period	3,421,284	3,534,468
Supplemental information:
Interest paid	91,800	86,000
Common Stock [Member]
Cash flows from investing activities:
Equity securities	(957,920)	(1,175,966)
Proceeds from sales, maturities and calls of:
Equity securities	824,406	2,024,336
Preferred Stock [Member]
Cash flows from investing activities:
Equity securities	(242,131)	(285,649)
Proceeds from sales, maturities and calls of:
Equity securities	$ 369,888	$ 337,440

Note 3 - Fair Value Disclosures (Details Textual) $ in Thousands	Jun. 30, 2024 USD ($)
Assets, Fair Value Disclosure	$ 0

Note 1 - Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Cost	$ 10,624,307	$ 10,315,398
Accumulated depreciation	(7,270,456)	(6,990,076)
Net property and equipment	3,353,851	3,325,322
Automobiles [Member]
Cost	693,489	645,458
Furniture and Fixtures [Member]
Cost	530,817	525,843
Computer Equipment [Member]
Cost	5,228,193	5,037,301
Home Office [Member]
Cost	$ 4,171,808	$ 4,106,796

Note 6 - Unpaid Losses and Settlement Expenses (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

	*For the Three-Months Ended*
	*June 30,*

(In thousands)	*2024*		*2023*
Unpaid losses and settlement expense - beginning of the period:
Gross	$	77,651	$	72,867
Less: Ceded		13,739		14,460
Less: CECL allowance for reinsurance recoverable on unpaid losses		88		—
Net		63,824		58,407
Increase in incurred losses and settlement expense:
Current year		11,867		10,929
Prior years		2,686		1,285
Total incurred		14,553		12,214
Deduct: Loss and settlement expense payments for claims incurred:
Current year		3,047		3,558
Prior years		8,519		5,082
Total paid		11,566		8,640
Net unpaid losses and settlement expense - end of the period		66,811		61,981
Plus: Reinsurance recoverable on unpaid losses net of CECL		12,374		14,502
Plus: CECL allowance for reinsurance recoverable on unpaid losses1		79		101
Gross unpaid losses and settlement expense - end of the period	$	79,264	$	76,584

	*For the Six-Months Ended*
	*June 30,*

(In thousands)	*2024*		*2023*
Unpaid losses and settlement expense - beginning of the period:
Gross	$	71,920	$	67,614
Less: Ceded		12,737		13,610
Less: CECL allowance for reinsurance recoverable on unpaid losses		82		—
Net		59,101		54,004
Increase in incurred losses and settlement expense:
Current year		24,155		22,001
Prior years		2,735		1,261
Total incurred		26,890		23,262
Deduct: Loss and settlement expense payments for claims incurred:
Current year		4,971		4,716
Prior years		14,209		10,569
Total paid		19,180		15,285
Net unpaid losses and settlement expense - end of the period		66,811		61,981
Plus: Reinsurance recoverable on unpaid losses net of CECL		12,374		14,502
Plus: CECL allowance for reinsurance recoverable on unpaid losses1		79		101
Gross unpaid losses and settlement expense - end of the period	$	79,264	$	76,584

Note 2 - Investments (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

Schedule of Realized Gain (Loss) [Table Text Block]

	*For the Three-Months Ended June 30,*
								*Net Realized*
	*Proceeds*		*Gains*		*Losses*			*Gains (Losses)*
2024
Fixed maturity securities	$	4,765,939	$	7,345	$	(30,092	)	$	(22,747	)
Common stocks		118,963		33,469		(13,377	)		20,092
Preferred stocks		124,375		—		(365	)		(365	)
2023
Fixed maturity securities	$	4,512,342	$	—	$	(11,378	)	$	(11,378	)
Common stocks		1,246,265		278,790		(121,760	)		157,030
Preferred stocks		241,812		4,959		(6,599	)		(1,640	)

	*For the Six-Months Ended June 30,*
								*Net Realized*
	*Proceeds*		*Gains*		*Losses*			*Gains (Losses)*
2024
Fixed maturity securities	$	9,060,460	$	8,512	$	(30,092	)	$	(21,580	)
Common stocks		824,406		283,106		(83,434	)		199,672
Preferred stocks		369,888		1,409		(31,835	)		(30,426	)
2023
Fixed maturity securities	$	8,342,783	$	-	$	(51,898	)	$	(51,898	)
Common stocks		2,024,336	$	404,791	$	(307,218	)	$	97,573
Preferred stocks		337,440	$	29,371	$	(6,599	)	$	22,772

Investments Classified by Contractual Maturity Date [Table Text Block]

	*Amortized Cost*		*Fair Value*
Due in one year or less	$	3,599,395	$	3,541,372
Due after one year through five years		15,021,950		14,405,515
Due after five years through 10 years		25,349,040		23,585,893
Due after 10 years		26,240,971		21,608,462
Asset and mortgage-backed securities without a specific due date		49,097,426		46,381,480
Redeemable preferred stocks		186,392		173,279
Total fixed maturity securities	$	119,495,174	$	109,696,001

Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]

					*Gross Unrealized*
	*Amortized Cost*		*Fair Value*		*Gains*		*Losses*
2024
Fixed maturity securities:
U.S. Treasury	$	1,351,270	$	1,305,930	$	—	$	(45,340	)
MBS/ABS/CMBS		49,097,426		46,381,480		228,289		(2,944,235	)
Corporate		46,263,052		42,672,106		74,481		(3,665,427	)
Municipal		22,597,034		19,163,206		84,965		(3,518,793	)
Redeemable preferred stock		186,392		173,279		—		(13,113	)
Total fixed maturity securities	$	119,495,174	$	109,696,001	$	387,735	$	(10,186,908	)

					*Gross Unrealized*
	*Amortized Cost*		*Fair Value*		*Gains*		*Losses*
2023
Fixed maturity securities:
U.S. Treasury	$	1,351,768	$	1,289,774	$	—	$	(61,994	)
MBS/ABS/CMBS		49,400,028		47,020,328		283,957		(2,663,657	)
Corporate		45,764,492		42,981,718		287,412		(3,070,186	)
Municipal		22,633,360		19,493,317		153,103		(3,293,146	)
Redeemable preferred stock		186,393		170,560		—		(15,833	)
Total fixed maturity securities	$	119,336,041	$	110,955,697	$	724,472	$	(9,104,816	)

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block]

	*June 30, 2024*									*December 31, 2023*
				*12 Months*									*12 Months*
	*< 12 Months*			*& Greater*			*Total*			*< 12 Months*			*& Greater*			*Total*
Fixed Maturity Securities:
U.S. Treasury
Fair value	$	—		$	1,305,930		$	1,305,930		$	—		$	1,289,774		$	1,289,774
Amortized cost		—			1,351,270			1,351,270			—			1,351,768			1,351,768
Unrealized loss		—			(45,340	)		(45,340	)		—			(61,994	)		(61,994	)
MBS/ABS/CMBS
Fair value		6,933,780			22,571,843			29,505,623			8,345,340			24,323,865			32,669,205
Amortized cost		7,038,812			25,411,046			32,449,858			8,462,010			26,870,852			35,332,862
Unrealized loss		(105,032	)		(2,839,203	)		(2,944,235	)		(116,670	)		(2,546,987	)		(2,663,657	)
Corporate
Fair value		6,850,575			30,480,416			37,330,991			477,051			33,352,754			33,829,805
Amortized cost		7,011,243			33,985,175			40,996,418			478,370			36,421,621			36,899,991
Unrealized loss		(160,668	)		(3,504,759	)		(3,665,427	)		(1,319	)		(3,068,867	)		(3,070,186	)
Municipal
Fair value		4,470,276			11,966,015			16,436,291			—			12,149,238			12,149,238
Amortized cost		4,530,820			15,424,264			19,955,084			—			15,442,384			15,442,384
Unrealized loss		(60,544	)		(3,458,249	)		(3,518,793	)		—			(3,293,146	)		(3,293,146	)
Redeemable preferred stock
Fair value		72,973			100,307			173,280			149,240			21,320			170,560
Amortized cost		76,968			109,425			186,393			161,549			24,844			186,393
Unrealized loss		(3,995	)		(9,118	)		(13,113	)		(12,309	)		(3,524	)		(15,833	)
Total
Fair value		18,327,604			66,424,511			84,752,115			8,971,631			71,136,951			80,108,582
Amortized cost		18,657,843			76,281,180			94,939,023			9,101,929			80,111,469			89,213,398
Unrealized loss	$	(330,239	)	$	(9,856,669	)	$	(10,186,908	)	$	(130,298	)	$	(8,974,518	)	$	(9,104,816	)

Note 5 - Reinsurance

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Reinsurance [Text Block]

5.	REINSURANCE

In the ordinary course of business, the Company assumes and cedes premiums and selected insured risks with other insurance companies, known as reinsurance. A large portion of the reinsurance is put into effect under contracts known as treaties and, in some instances, by negotiation on each individual risk (known as facultative reinsurance). In addition, there are several types of treaties including quota share, excess of loss, and catastrophe reinsurance contracts that protect against losses over stipulated amounts arising from any one occurrence or event. The arrangements allow the Company to pursue greater diversification of business and serve to limit the maximum net loss to a single event, such as a catastrophe. Through the quantification of exposed policy limits in each region and the extensive use of computer-assisted modeling techniques, management monitors the concentration of risks exposed to catastrophic events.

Through the purchase of reinsurance, the Company also generally limits its net loss on any individual risk to a maximum of $1,000,000 for casualty and workers’ compensation business and $1,000,000 for property, although certain treaties contain an annual aggregate deductible before reinsurance applies.

Premiums, written and earned, along with losses and settlement expenses incurred for the periods presented is summarized as follows:

	*Three-Month Periods Ended June 30,*
	*2024*			*2023*
WRITTEN
Direct	$	25,390,896		$	23,589,667
Reinsurance assumed		(24,174	)		36,387
Reinsurance ceded		(3,680,899	)		(2,654,089	)
Net	$	21,685,823		$	20,971,965
EARNED
Direct	$	24,077,573		$	21,167,168
Reinsurance assumed		(14,213	)		31,109
Reinsurance ceded		(3,665,167	)		(2,704,224	)
Net	$	20,398,193		$	18,494,053
LOSS AND SETTLEMENT EXPENSES INCURRED
Direct	$	14,420,431		$	12,633,975
Reinsurance assumed		(40,615	)		31,178
Reinsurance ceded		173,252			(450,667	)
Net	$	14,553,068		$	12,214,486

	*Six-Month Periods Ended June 30,*
	*2024*			*2023*
WRITTEN
Direct	$	49,126,455		$	44,404,193
Reinsurance assumed		23,602			75,113
Reinsurance ceded		(7,020,230	)		(4,994,729	)
Net	$	42,129,827		$	39,484,577
EARNED
Direct	$	47,622,577		$	41,410,604
Reinsurance assumed		33,407			72,811
Reinsurance ceded		(7,035,425	)		(5,188,065	)
Net	$	40,620,559		$	36,295,350
LOSS AND SETTLEMENT EXPENSES INCURRED
Direct	$	28,539,882		$	25,900,404
Reinsurance assumed		23,107			40,419
Reinsurance ceded		(1,672,993	)		(2,678,656	)
Net	$	26,889,996		$	23,262,167

Note 1 - Summary of Significant Accounting Policies - Accumulated Other Comprehensive Earnings (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Balance	$ 68,685,411	$ 67,003,549	$ 60,440,931	$ 67,003,549	$ 60,440,931
Net current period other comprehensive (loss) earnings	(480,032)	(640,112)	1,596,353
Balance	67,613,677	68,685,411	63,598,529	67,613,677	63,354,040
AOCI Attributable to Parent [Member]
Balance	(7,261,448)	(6,621,336)	(8,841,517)	(6,621,336)	(8,841,517)
Other comprehensive (loss) earnings before reclassification				(1,137,192)	791,025
Amount reclassified from accumulated other comprehensive earnings				17,048	40,999
Net current period other comprehensive (loss) earnings	(480,032)	(640,112)	1,596,353	(1,120,144)	832,024
Balance	$ (7,741,480)	$ (7,261,448)	$ (7,245,164)	$ (7,741,480)	$ (8,009,493)

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Note 1 - Summary of Significant Accounting Policies - Other Comprehensive Earnings (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Unrealized holding losses arising during the period, pre tax	$ (630,383)	$ (978,883)	$ (1,439,484)	$ 1,001,297
Unrealized holding losses arising during the period, tax	132,380	205,566	302,292	(210,272)
Unrealized holding losses arising during the period, after tax	(498,003)	(773,317)	(1,137,192)	791,025
Reclassification adjustment for losses included in net earnings, pre tax	22,747	11,378	21,580	51,897
Reclassification adjustment for losses included in net earnings, tax	(4,776)	(2,390)	(4,532)	(10,898)
Reclassification adjustment for losses included in net earnings, after tax	17,971	8,988	17,048	40,999
Total other comprehensive loss, pre tax	(607,636)	(967,505)	(1,417,904)	1,053,194
Total other comprehensive loss, tax	127,604	203,176	297,760	(221,170)
Total other comprehensive loss, after tax	$ (480,032)	$ (764,329)	$ (1,120,144)	$ 832,024

- Definition

Amount before tax, after reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

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+ Details

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Fixed maturity securities, amortized cost	$ 119,495,174	$ 119,336,041
Other invested assets, allowances for credit losses	250,000	39,000
Property held for investment, accumulated depreciation	767,263	682,402
Premiums and reinsurance balances receivable, allowances for uncollectible amounts	135,000	143,000
Reinsurance balances recoverable on unpaid losses and settlement expenses, allowances for uncollectible amounts	79,000	82,000
Property and equipment, at cost, accumulated depreciation	7,270,456	6,990,076
Allowance for Credit Loss, Receivable, Other, Current	$ 4,000	$ 5,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	3,500,000	3,500,000
Common stock, shares outstanding (in shares)	3,142,973	3,138,976
Treasury stock, shares (in shares)	357,027	361,024
Unearned Employee Stock Ownership Plan (in shares)	175,844	187,498

Note 6 - Unpaid Losses and Settlement Expenses - Schedule of Liability for Unpaid Claims and Claim Adjustment Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Gross	$ 77,651,000	$ 72,867,000	$ 71,919,585	$ 67,614,000
Less: Ceded	13,739,000	14,460,000	12,736,579	13,610,000
Less: CECL allowance for reinsurance recoverable on unpaid losses	88,000	0	82,000	0
Net	63,824,000	58,407,000	59,101,000	54,004,000
Current year, incurred	11,867,000	10,929,000	24,155,000	22,001,000
Prior years, incurred	2,686,000	1,285,000	2,735,000	1,261,000
Total incurred	14,553,000	12,214,000	26,890,000	23,262,000
Current year, paid	3,047,000	3,558,000	4,971,000	4,716,000
Prior years, paid	8,519,000	5,082,000	14,209,000	10,569,000
Total paid	11,566,000	8,640,000	19,180,000	15,285,000
Net unpaid losses and settlement expense - end of the period	66,811,000	61,981,000	66,811,000	61,981,000
Plus: Reinsurance recoverable on unpaid losses net of CECL	12,374,256	14,502,000	12,374,256	14,502,000
Plus: CECL allowance for reinsurance recoverable on unpaid losses1	79,000	101,000	79,000	101,000
Unpaid losses and settlement expenses	$ 79,263,873	$ 76,584,000	$ 79,263,873	$ 76,584,000

Note 2 - Investments - Summary of Proceeds from Investments and Related Gross Realized Gains and Losses (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fixed Income Securities [Member]
Proceeds	$ 4,765,939	$ 4,512,342	$ 9,060,460	$ 8,342,783
Gains	7,345	0	8,512	0
Losses	(30,092)	(11,378)	(30,092)	(51,898)
Fixed maturity securities, net realized gains (losses)	(22,747)	(11,378)	(21,580)	(51,898)
Common Stock [Member]
Proceed	118,963	1,246,265	824,406	2,024,336
Gain	33,469	278,790	283,106	404,791
Loss	(13,377)	(121,760)	(83,434)	(307,218)
Equity securities, net realized gains (losses)	20,092	157,030	199,672	97,573
Preferred Stock [Member]
Proceed	124,375	241,812	369,888	337,440
Gain	0	4,959	1,409	29,371
Loss	(365)	(6,599)	(31,835)	(6,599)
Equity securities, net realized gains (losses)	$ (365)	$ (1,640)	$ (30,426)	$ 22,772

Note 3 - Fair Value Disclosures - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale	$ 109,696,001	$ 110,955,697
Equity securities	16,499,573	15,087,917
Total marketable investments measured at fair value	126,195,574	126,043,614
Fair Value, Inputs, Level 1 [Member]
Debt Securities, Available-for-Sale	1,305,930	1,289,774
Equity securities	13,599,230	12,191,621
Total marketable investments measured at fair value	14,905,160	13,481,395
Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	108,390,071	109,665,923
Equity securities	2,900,343	2,896,296
Total marketable investments measured at fair value	111,290,414	112,562,219
US Treasury Securities [Member]
Debt Securities, Available-for-Sale	1,305,930	1,289,774
US Treasury Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Debt Securities, Available-for-Sale	1,305,930	1,289,774
MBS,ABS,CMBS [Member]
Debt Securities, Available-for-Sale	46,381,480	47,020,328
MBS,ABS,CMBS [Member] \| Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	46,381,480	47,020,328
Corporate Debt Securities [Member]
Debt Securities, Available-for-Sale	42,672,106	42,981,718
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	42,672,106	42,981,718
US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-Sale	19,163,206	19,493,317
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	19,163,206	19,493,317
Redeemable Preferred Stock [Member]
Debt Securities, Available-for-Sale	173,279	170,560
Redeemable Preferred Stock [Member] \| Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	173,279	170,560
Common Stock [Member]
Equity securities	13,599,230	12,191,621
Common Stock [Member] \| Fair Value, Inputs, Level 1 [Member]
Equity securities	13,599,230	12,191,621
Common Stock [Member] \| Fair Value, Inputs, Level 2 [Member]
Equity securities	0
Preferred Stock [Member]
Equity securities	2,900,343	2,896,296
Preferred Stock [Member] \| Fair Value, Inputs, Level 2 [Member]
Equity securities	$ 2,900,343	$ 2,896,296

Note 3 - Fair Value Disclosures

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Fair Value Disclosures [Text Block]

3.	FAIR VALUE DISCLOSURES

Fair value is defined as the price in the principal market that would be received for an asset to facilitate an orderly transaction between market participants on the measurement date. The fair value of certain financial instruments is determined based on their underlying characteristics and relevant transactions in the marketplace. GAAP guidance requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The guidance also describes three levels of inputs that may be used to measure fair value.

The following are the levels of the fair value hierarchy and a brief description of the type of valuation inputs that are used to establish each level:

●

Level 1 is applied to valuations based on readily available, unadjusted quoted prices in active markets for identical assets.

●

Level 2 is applied to valuations based upon quoted prices for similar assets in active markets, quoted prices for identical or similar assets in inactive markets, or valuations based on models where the significant inputs are observable (e.g., interest rates, yield curves, prepayment speeds, default rates, loss severities) or can be corroborated by observable market data.

●

Level 3 is applied to valuations that are derived from techniques in which one or more of the significant inputs are unobservable. Financial assets are classified based upon the lowest level of significant input that is used to determine fair value.

As a part of the process to determine fair value, management utilizes widely recognized, third-party pricing sources to determine fair values. Management has obtained an understanding of the third-party pricing sources’ valuation methodologies and inputs. The following is a description of the valuation techniques used for financial assets that are measured at fair value, including the general classification of such assets pursuant to the fair value hierarchy.

Corporate, Agencies, and Municipal Bonds—The pricing vendor employs a multi-dimensional model which uses standard inputs including (listed in order of priority for use) benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, market bids/offers, and other reference data. The pricing vendor also monitors market indicators, as well as industry and economic events. All bonds valued using these techniques are classified as Level 2. All Corporate, Agencies, and Municipal securities are deemed Level 2.

Mortgage-backed Securities (MBS), Collateralized Mortgage Obligations (CMO), Commercial Mortgage-backed Securities (CMBS) and Asset-backed Securities (ABS)—The pricing vendor evaluation methodology includes principally interest rate movements and new issue data. Evaluation of the tranches (non-volatile, volatile, or credit sensitivity) is based on the pricing vendors’ interpretation of accepted modeling and pricing conventions. This information is then used to determine the cash flows for each tranche, benchmark yields, pre-payment assumptions, and to incorporate collateral performance. To evaluate CMO volatility, an option adjusted spread model is used in combination with models that simulate interest rate paths to determine market price information. This process allows the pricing vendor to obtain evaluations of a broad universe of securities in a way that reflects changes in yield curve, index rates, implied volatility, mortgage rates, and recent trade activity. MBS, CMBS, CMO, and ABS with corroborated and observable inputs are classified as Level 2. All MBS, CMBS, CMO, and ABS holdings are deemed Level 2.

U.S. Treasury Bonds, Common Stocks and Exchange Traded Funds—U.S. treasury bonds and exchange traded equities have readily observable price levels and are classified as Level 1 (fair value based on quoted market prices). All common stock holdings are deemed Level 1.

Preferred Stock—Preferred stocks do not have readily observable prices but do have quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets in markets that are not active; and inputs other than quoted prices and are classified as Level 2. All preferred stock holdings are deemed Level 2.

Due to the relatively short-term nature of cash, short-term investments, accounts receivable, and accounts payable, their carrying amounts are reasonable estimates of fair value. Other invested assets include notes receivable, stock, a limited partnership, a SAFE investment, Funds at Lloyd's, and membership in the FHLBC. Notes receivable are carried at outstanding balance plus accrued interest. Stock is at fair value when available. The limited partnership and Funds at Lloyds are accounted for under the equity method. The SAFE investment and the membership in FHLBC are carried at cost.

Assets measured at fair value on a recurring basis as of June 30, 2024, are summarized below:

			*Significant*
	*Quoted in Active*		*Other*		*Significant*
	*Markets for*		*Observable*		*Unobservable*
	*Identical Assets*		*Inputs*		*Inputs*
	*(Level 1)*		*(Level 2)*		*(Level 3)*		*Total*
AFS securities
Fixed maturity securities
U.S. treasury	$	1,305,930	$	—	$	—	$	1,305,930
MBS/ABS/CMBS		—		46,381,480		—		46,381,480
Corporate		—		42,672,106		—		42,672,106
Municipal		—		19,163,206		—		19,163,206
Redeemable preferred stocks		—		173,279		—		173,279
Total fixed maturity securities		1,305,930		108,390,071		—		109,696,001
Equity securities
Common stocks		13,599,230		—		—		13,599,230
Perpetual preferred stocks		—		2,900,343		—		2,900,343
Total equity securities		13,599,230		2,900,343		—		16,499,573
Total marketable investments measured at fair value	$	14,905,160	$	111,290,414	$	—	$	126,195,574

Assets measured at fair value on a recurring basis as of December 31, 2023, are summarized below:

			*Significant*
	*Quoted in Active*		*Other*		*Significant*
	*Markets for*		*Observable*		*Unobservable*
	*Identical Assets*		*Inputs*		*Inputs*
	*(Level 1)*		*(Level 2)*		*(Level 3)*		*Total*
AFS securities
Fixed maturity securities
U.S. treasury	$	1,289,774	$	—	$	—	$	1,289,774
MBS/ABS/CMBS		—		47,020,328		—		47,020,328
Corporate		—		42,981,718		—		42,981,718
Municipal		—		19,493,317		—		19,493,317
Redeemable preferred stocks		—		170,560		—		170,560
Total fixed maturity securities		1,289,774		109,665,923		—		110,955,697
Equity securities
Common stocks		12,191,621		—		—		12,191,621
Perpetual preferred stocks		—		2,896,296		—		2,896,296
Total equity securities		12,191,621		2,896,296		—		15,087,917
Total marketable investments measured at fair value	$	13,481,395	$	112,562,219	$	—	$	126,043,614

As noted in the previous tables, the Company has no assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of June 30, 2024 or December 31, 2023. Additionally, there were no securities transferred in or out of Levels 1 and 2 during the six-month periods ended June 30, 2024 and 2023.

- 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

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-Topic 820
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+ Details

Note 3 - Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

			*Significant*
	*Quoted in Active*		*Other*		*Significant*
	*Markets for*		*Observable*		*Unobservable*
	*Identical Assets*		*Inputs*		*Inputs*
	*(Level 1)*		*(Level 2)*		*(Level 3)*		*Total*
AFS securities
Fixed maturity securities
U.S. treasury	$	1,305,930	$	—	$	—	$	1,305,930
MBS/ABS/CMBS		—		46,381,480		—		46,381,480
Corporate		—		42,672,106		—		42,672,106
Municipal		—		19,163,206		—		19,163,206
Redeemable preferred stocks		—		173,279		—		173,279
Total fixed maturity securities		1,305,930		108,390,071		—		109,696,001
Equity securities
Common stocks		13,599,230		—		—		13,599,230
Perpetual preferred stocks		—		2,900,343		—		2,900,343
Total equity securities		13,599,230		2,900,343		—		16,499,573
Total marketable investments measured at fair value	$	14,905,160	$	111,290,414	$	—	$	126,195,574

			*Significant*
	*Quoted in Active*		*Other*		*Significant*
	*Markets for*		*Observable*		*Unobservable*
	*Identical Assets*		*Inputs*		*Inputs*
	*(Level 1)*		*(Level 2)*		*(Level 3)*		*Total*
AFS securities
Fixed maturity securities
U.S. treasury	$	1,289,774	$	—	$	—	$	1,289,774
MBS/ABS/CMBS		—		47,020,328		—		47,020,328
Corporate		—		42,981,718		—		42,981,718
Municipal		—		19,493,317		—		19,493,317
Redeemable preferred stocks		—		170,560		—		170,560
Total fixed maturity securities		1,289,774		109,665,923		—		110,955,697
Equity securities
Common stocks		12,191,621		—		—		12,191,621
Perpetual preferred stocks		—		2,896,296		—		2,896,296
Total equity securities		12,191,621		2,896,296		—		15,087,917
Total marketable investments measured at fair value	$	13,481,395	$	112,562,219	$	—	$	126,043,614

Note 5 - Reinsurance (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

Effects of Reinsurance [Table Text Block]

	*Three-Month Periods Ended June 30,*
	*2024*			*2023*
WRITTEN
Direct	$	25,390,896		$	23,589,667
Reinsurance assumed		(24,174	)		36,387
Reinsurance ceded		(3,680,899	)		(2,654,089	)
Net	$	21,685,823		$	20,971,965
EARNED
Direct	$	24,077,573		$	21,167,168
Reinsurance assumed		(14,213	)		31,109
Reinsurance ceded		(3,665,167	)		(2,704,224	)
Net	$	20,398,193		$	18,494,053
LOSS AND SETTLEMENT EXPENSES INCURRED
Direct	$	14,420,431		$	12,633,975
Reinsurance assumed		(40,615	)		31,178
Reinsurance ceded		173,252			(450,667	)
Net	$	14,553,068		$	12,214,486

	*Six-Month Periods Ended June 30,*
	*2024*			*2023*
WRITTEN
Direct	$	49,126,455		$	44,404,193
Reinsurance assumed		23,602			75,113
Reinsurance ceded		(7,020,230	)		(4,994,729	)
Net	$	42,129,827		$	39,484,577
EARNED
Direct	$	47,622,577		$	41,410,604
Reinsurance assumed		33,407			72,811
Reinsurance ceded		(7,035,425	)		(5,188,065	)
Net	$	40,620,559		$	36,295,350
LOSS AND SETTLEMENT EXPENSES INCURRED
Direct	$	28,539,882		$	25,900,404
Reinsurance assumed		23,107			40,419
Reinsurance ceded		(1,672,993	)		(2,678,656	)
Net	$	26,889,996		$	23,262,167

Insider Trading Arrangements	3 Months Ended	6 Months Ended
Insider Trading Arrangements	Jun. 30, 2024	Jun. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		Item 5. Other Information During the quarter ended June 30, 2024, none of our directors or officers (as defined in Section 16 of the Securities Exchange Act of 1934, as amended) adopted or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement: (each as defined in Item 408(a) and (c) of Regulation S-K).
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)