SECURITY NATIONAL FINANCIAL CORP
For the period ended Mar 31, 2025. Filed May 15, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 15, 2025
SNFCA$9.48+1.4%Stored close · as of Nov 6, 2026
Contents
Financial Statements
Item 1. Financial Statements.
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Investments: | ||
| Fixed maturity securities, available for sale, at estimated fair value (amortized cost of $376,903,025 and $376,012,071 for 2025 and 2024, respectively; net of allowance for credit losses of $507,300 and $420,993 for 2025 and 2024, respectively) | $371,212,032 | $366,546,129 |
| Equity securities at estimated fair value (cost of $11,548,300 and $11,386,454 for 2025 and 2024, respectively) | 15,973,782 | 15,771,681 |
| Mortgage loans held for investment (net of allowance for credit losses of $2,008,592 and $1,885,390 for 2025 and 2024, respectively) | 319,445,281 | 301,747,358 |
| Real estate held for investment (net of accumulated depreciation of $32,853,123 and $31,419,539 for 2025 and 2024, respectively) | 202,629,726 | 197,693,338 |
| Real estate held for sale | 2,713,040 | 1,278,033 |
| Other investments and policy loans (net of allowance for credit losses of $1,517,783 and $1,536,926 for 2025 and 2024, respectively) | 76,545,918 | 74,855,041 |
| Accrued investment income | 9,574,599 | 8,499,168 |
| Total investments | 998,094,378 | 966,390,748 |
| Cash and cash equivalents | 132,946,068 | 140,546,421 |
| Loans held for sale at estimated fair value | 139,834,226 | 131,181,148 |
| Receivables (net of allowance for credit losses of $1,632,099 and $1,678,531 for 2025 and 2024, respectively) | 15,943,962 | 15,858,743 |
| Restricted assets (including $12,910,825 and $12,323,535 for 2025 and 2024 respectively, at estimated fair value) | 27,722,898 | 23,806,836 |
| Cemetery perpetual care trust investments (including $5,841,653 and $5,689,706 for 2025 and 2024, respectively, at estimated fair value) | 9,038,179 | 8,836,503 |
| Receivable from reinsurers | 13,791,025 | 13,831,093 |
| Cemetery land and improvements | 10,545,468 | 10,594,632 |
| Deferred policy and pre-need contract acquisition costs | 123,527,455 | 122,661,298 |
| Mortgage servicing rights, net | 2,839,548 | 2,939,878 |
| Property and equipment, net | 18,811,490 | 19,047,688 |
| Value of business acquired | 7,380,231 | 7,491,600 |
| Goodwill | 5,253,783 | 5,253,783 |
| Other | 18,521,619 | 21,366,843 |
| Total Assets | $1,524,250,330 | $1,489,807,214 |
CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| Liabilities and Stockholders’ Equity | ||
| Liabilities | ||
| Future policy benefits and unpaid claims | $953,000,823 | $944,811,843 |
| Unearned premium reserve | 1,966,308 | 2,011,679 |
| Bank and other loans payable | 122,823,346 | 106,740,104 |
| Deferred pre-need cemetery and mortuary contract revenues | 20,910,047 | 20,168,405 |
| Cemetery perpetual care obligation | 5,704,613 | 5,642,693 |
| Accounts payable | 4,982,820 | 2,937,293 |
| Other liabilities and accrued expenses | 53,258,611 | 55,633,661 |
| Income taxes | 15,110,076 | 13,079,257 |
| Total liabilities | 1,177,756,644 | 1,151,024,935 |
| Stockholders’ Equity | ||
| Preferred Stock - non-voting - $1.00 par value; 5,000,000 shares authorized; none issued or outstanding | - | - |
| Class A: common stock - $2.00 par value; 40,000,000 shares authorized; 21,321,739 shares issued and outstanding as of March 31, 2025 and 21,255,006 shares issued and outstanding as of December 31, 2024 | 42,643,478 | 42,510,012 |
| Class B: non-voting common stock - $1.00 par value; 5,000,000 shares authorized; none issued or outstanding | - | - |
| Class C: convertible common stock - $2.00 par value; 6,000,000 shares authorized; 3,417,170 shares issued and outstanding as of March 31, 2025 and 3,321,833 shares issued and outstanding as of December 31, 2024 | 6,834,340 | 6,643,666 |
| Additional paid-in capital | 80,004,637 | 79,698,367 |
| Accumulated other comprehensive loss, net of taxes | (3,953,654) | (6,951,266) |
| Retained earnings | 229,697,478 | 225,359,186 |
| Treasury stock at cost - 1,037,568 Class A shares and 99,623 Class C shares as of March 31, 2025; and 1,025,784 Class A shares and 99,623 Class C shares as of December 31, 2024 | (8,732,593) | (8,477,686) |
| Total stockholders’ equity | 346,493,686 | 338,782,279 |
| Total Liabilities and Stockholders’ Equity | $1,524,250,330 | $1,489,807,214 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.