Group 1 - Security National Financial Corporation (SNFCA) will be included in the Russell 3000 Index effective June 30, 2025, following the annual reconstitutions of the Russell indexes [1][2] - The Russell 3000 Index captures the 4,000 largest US stocks ranked by total market capitalization, and membership lasts for one year, leading to automatic inclusion in either the Russell 1000 or Russell 2000 Index [2] - The inclusion in the Russell 3000 Index is seen as a validation of Security National's efforts to provide strong returns and stability for investors, as stated by the company's President and Chairman [3] Group 2 - FTSE Russell, the provider of the Russell indexes, emphasizes the importance of adapting to the evolving US economy and plans to transition to a semi-annual reconstitution frequency starting in 2026 [4] - FTSE Russell manages a significant amount of assets, with approximately $10.6 trillion benchmarked against the Russell US indexes as of June 2024 [3] - FTSE Russell is a global leader in index provision, with around $18.1 trillion benchmarked to its indexes, covering 98% of the investable market globally [6]

Core Insights - Security National Financial Corporation successfully concluded a lending transaction that generated nearly $4,000,000 in profit-split income, in addition to over $3,200,000 in interest and origination fees [1][2] - The transaction involved an acquisition and development loan for over 500 planned residential units on a 162-acre parcel, originated in June 2021 [2] - The company believes the return on investment from this transaction exceeds that of competing general debt offerings, enhancing its residential mortgage segment's ability to offer long-term financing [2][3] Strategic Growth - The transaction highlights the company's enhanced lending capabilities, providing increased value to homebuilders and the real estate development community [3] - Proceeds from the profit split will be reinvested in similar attractive transactions to strengthen the company's asset base [3] - The CEO emphasized the importance of working with reputable local developers to structure beneficial loan terms for both the company and developers [4] Business Segments - Security National operates in three reportable business segments: life insurance, cemetery and mortuary, and mortgages [4] - The life insurance segment sells and services various insurance products across 40 states through independent agents [4] - The mortgage segment originates and underwrites residential and commercial loans through 100 retail offices in 23 states [4]

Core Viewpoint - Security National Financial Corporation (SNFC) reported a significant decrease in after-tax earnings for Q1 2025, down approximately 42% compared to the same period in 2024, primarily due to declines in investment income and increased personnel costs [1][2][6]. Financial Performance - After-tax earnings for Q1 2025 were $4.338 million, down from $7.475 million in Q1 2024, representing a decrease of approximately $3.1 million [1]. - Pre-tax earnings also decreased by about 42%, or $4.05 million, to $5.571 million [1]. - Net earnings per common share fell to $0.18 from $0.31 year-over-year, while book value per common share increased slightly to $14.68 from $14.45 [8]. Segment Performance - The Life Insurance segment reported revenues of $49.287 million, a decrease of 1.4% from $49.971 million in 2024, with pre-tax earnings down 37.5% to $5.327 million [8]. - The Cemeteries/Mortuaries segment saw revenues decline by 7.6% to $8.119 million, with pre-tax earnings down 26.7% to $2.238 million [8]. - The Mortgages segment experienced a revenue increase of 12.9% to $25.334 million, although it reported a slight pre-tax loss of $1.994 million [8]. Investment Income Analysis - Approximately 75% of the $4.05 million decrease in pre-tax income was attributed to declines in realized and unrealized investment income, with a notable $3 million decline in investment income [2][4]. - Of the $3 million decline in investment income, about 56% ($1.7 million) was related to decreased construction profits and fewer home closings compared to Q1 2024 [3]. - The stock market decline accounted for roughly 42% ($1.25 million) of the investment income decrease, with the company opting not to liquidate positions, resulting in unrealized losses [4]. Personnel Costs and Strategic Investments - Personnel costs rose by 11.7%, or approximately $2.2 million, primarily due to annual compensation increases and strategic hiring to enhance sales and fulfillment capabilities [6]. - The increase in personnel costs is viewed as a necessary investment for future growth, despite the immediate impact on earnings [6]. Operational Highlights - Despite the decrease in income, the company achieved a 4% increase in families served in the Death Care Segment and improved premium margins in the Insurance Segment [7]. - The Mortgage Segment reported an 11% increase in volume compared to Q1 2024, indicating positive operational performance [7].

[Part I - Financial Information](index=4&type=section&id=Part%20I%20-%20Financial%20Information) This section provides the company's unaudited condensed consolidated financial statements, management's discussion and analysis, market risk disclosures, and internal controls for the period [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Security National Financial Corporation as of and for the three months ended March 31, 2025, along with detailed notes explaining the basis of presentation, accounting policies, and financial instrument details [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$1.524 billion** as of March 31, 2025, driven by investments and loans, while liabilities and stockholders' equity also saw increases Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Total investments | $998,094 | $966,391 | | Cash and cash equivalents | $132,946 | $140,546 | | Loans held for sale | $139,834 | $131,181 | | **Total Assets** | **$1,524,250** | **$1,489,807** | | **Liabilities & Equity** | | | | Future policy benefits and unpaid claims | $953,001 | $944,812 | | Bank and other loans payable | $122,823 | $106,740 | | **Total Liabilities** | **$1,177,757** | **$1,151,025** | | **Total Stockholders' Equity** | **$346,494** | **$338,782** | | **Total Liabilities and Stockholders' Equity** | **$1,524,250** | **$1,489,807** | [Condensed Consolidated Statements of Earnings](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Earnings) Net earnings significantly decreased to **$4.3 million** in Q1 2025 from **$7.5 million** in Q1 2024, as total revenues increased slightly but were offset by a larger rise in benefits and expenses, leading to diluted EPS falling to **$0.18** Statement of Earnings Summary (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total Revenues | $82,740 | $81,188 | | Total Benefits and Expenses | $77,169 | $71,569 | | Earnings Before Income Taxes | $5,571 | $9,619 | | Net Earnings | $4,338 | $7,475 | | Net Earnings per Share (Diluted) | $0.18 | $0.31 | [Condensed Consolidated Statements of Comprehensive Income](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Comprehensive income increased to **$7.3 million** in Q1 2025 from **$6.6 million** in Q1 2024, driven by a positive swing in other comprehensive income from unrealized gains on securities, despite a decline in net earnings Comprehensive Income Summary (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Earnings | $4,338 | $7,475 | | Other Comprehensive Income (Loss), net of tax | $2,998 | $(895) | | **Comprehensive Income** | **$7,336** | **$6,579** | [Condensed Consolidated Statements of Stockholders' Equity](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity) Total stockholders' equity increased to **$346.5 million** as of March 2025, primarily driven by **$4.3 million** in net earnings and **$3.0 million** in other comprehensive income, partially offset by treasury stock purchases - Key drivers for the change in stockholders' equity in Q1 2025 were net earnings of **$4.3 million** and other comprehensive income of **$3.0 million**[23](index=23&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities decreased to **$9.6 million** in Q1 2025, while investing activities used **$29.3 million**, and financing activities provided **$14.9 million**, resulting in a net **$4.8 million** decrease in cash Cash Flow Summary (in thousands) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $9,586 | $25,077 | | Net Cash from (used in) Investing Activities | $(29,267) | $1,699 | | Net Cash from (used in) Financing Activities | $14,870 | $(2,149) | | **Net Change in Cash** | **$(4,810)** | **$24,627** | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail accounting policies, significant estimates, recent pronouncements, investment portfolios, fair value measurements, derivatives, segment information, and other commitments and contingencies - The financial statements are prepared in accordance with U.S. GAAP for interim reporting and should be read with the 2024 Annual Report, with management noting material estimates for derivative values, deferred acquisition costs, future policy benefits, and loan loss reserves[29](index=29&type=chunk)[31](index=31&type=chunk) - The company is preparing to adopt ASU 2018-12 regarding long-duration insurance contracts, effective for the annual period ending December 31, 2025, which is expected to impact its financial position and results[34](index=34&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=72&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Consolidated revenues increased by **1.9%** to **$82.7 million** in Q1 2025, but a **7.8%** rise in expenses led to a **42.1%** drop in pre-tax earnings, with varied segment performance and maintained liquidity - The company's core strategies are focusing on niche insurance products (funeral plans), expanding the cemetery and mortuary business, and originating mortgage loans[281](index=281&type=chunk) - Total revenues increased by **$1.6 million** (**1.9%**) in Q1 2025 compared to Q1 2024, driven by higher mortgage fee income, while total benefits and expenses increased by **$5.6 million** (**7.8%**), primarily due to higher commissions and personnel costs[296](index=296&type=chunk)[308](index=308&type=chunk) - The company's liquidity is considered adequate, with cash flow from operations and investments sufficient to fund long-term policyholder liabilities and current operating expenses, and compliance with all debt covenants as of March 31, 2025[310](index=310&type=chunk)[311](index=311&type=chunk) [Insurance Operations](index=72&type=section&id=Insurance%20Operations) The insurance segment's net earnings fell **38%** to **$4.1 million** in Q1 2025, primarily due to increased SG&A expenses and decreased investment gains, despite nearly flat revenues - The company focuses on funeral plan policies, which it considers a less competitive marketing niche[282](index=282&type=chunk)[283](index=283&type=chunk) Insurance Operations Financial Results (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total Segment Revenues | $50,607 | $51,350 | | Segment Net Earnings | $4,146 | $6,712 | [Cemetery and Mortuary Operations](index=72&type=section&id=Cemetery%20and%20Mortuary%20Operations) The cemetery and mortuary segment's net earnings decreased **25%** to **$1.7 million** in Q1 2025, mainly due to lower net investment income and gains, despite a **5%** rise in segment revenues Cemetery and Mortuary Operations Financial Results (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total Segment Revenues | $8,203 | $8,872 | | Segment Net Earnings | $1,703 | $2,267 | [Mortgage Operations](index=73&type=section&id=Mortgage%20Operations) The mortgage segment reported a net loss of **$1.51 million** in Q1 2025, nearly flat year-over-year, as **13%** revenue growth driven by secondary gains was offset by higher expenses, with loan origination volume increasing to **$517.9 million** - Loan origination volume increased to **1,508 loans** (**$517.9 million** total volume) in Q1 2025, up from **1,486 loans** (**$465.6 million** total volume) in Q1 2024[292](index=292&type=chunk) Mortgage Operations Financial Results (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total Segment Revenues | $25,456 | $22,577 | | Segment Net Loss | $(1,511) | $(1,504) | [Liquidity and Capital Resources](index=76&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains adequate liquidity and capital resources, with cash from operations decreasing to **$9.6 million** in Q1 2025, while total capitalization increased to **$469.3 million** and life insurance subsidiaries' statutory capital reached **$121.5 million** - The company was in compliance with all covenants under its mortgage warehouse lines of credit as of March 31, 2025, and has determined it has sufficient funds to continue its business model[311](index=311&type=chunk) - Stockholders' equity as a percent of total capitalization was **73.8%** as of March 31, 2025, down from **76.1%** at the end of 2024[317](index=317&type=chunk) - The combined statutory capital and surplus of the life insurance subsidiaries was approximately **$121.5 million** as of March 31, 2025, up from **$120.2 million** at year-end 2024[320](index=320&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=77&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) As a smaller reporting company, the Company is not required to provide the information typically disclosed under this item - The company is exempt from this disclosure requirement due to its status as a smaller reporting company[321](index=321&type=chunk) [Controls and Procedures](index=77&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no significant changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the quarter[322](index=322&type=chunk) - No significant changes to internal control over financial reporting occurred during the quarter[323](index=323&type=chunk) [Part II - Other Information](index=78&type=section&id=Part%20II%20-%20Other%20Information) This section details legal proceedings, risk factors, equity transactions, and other required disclosures, including certifications and exhibits [Legal Proceedings](index=78&type=section&id=Item%201.%20Legal%20Proceedings) The company is not a party to any material legal proceedings outside the ordinary course of business that would be expected to have a material adverse effect on its financial condition or results of operation - There are no material legal proceedings to report[325](index=325&type=chunk) [Risk Factors](index=78&type=section&id=Item%201A.%20Risk%20Factors) As a smaller reporting company, the Company is not required to provide the information typically disclosed under this item - The company is exempt from this disclosure requirement due to its status as a smaller reporting company[326](index=326&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=78&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered securities sales and executed a **$1,000,000** Class A Common Stock repurchase plan on April 22, 2025, with no repurchases made in Q1 2025 - No unregistered securities were sold during the period[327](index=327&type=chunk) - A new 10b5-1 stock repurchase plan for up to **$1,000,000** of Class A stock was executed on April 22, 2025, with no shares repurchased in Q1 2025[328](index=328&type=chunk) [Defaults Upon Senior Securities](index=78&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[332](index=332&type=chunk) [Mine Safety Disclosures](index=79&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) The company reported no mine safety disclosures - None[333](index=333&type=chunk) [Other Information](index=79&type=section&id=Item%205.%20Other%20Information) During the first quarter of 2025, no Section 16 officers or directors adopted, modified, or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement - No officers or directors adopted, modified, or terminated a trading arrangement during the quarter[334](index=334&type=chunk) [Exhibits](index=79&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the report, including CEO and CFO certifications, XBRL data files, and references to previously filed corporate documents - Exhibits filed include Sarbanes-Oxley certifications (302 and 906) and Inline XBRL documents[338](index=338&type=chunk)

Group 1 - Security National Financial Corporation will hold an earnings call on May 15, 2025, to discuss its Q1 earnings [1][2] - The earnings call will start at approximately 1 PM (MDT) and will include a review of Q1 results and updates from the company's three business segments [2] - Participants will have the opportunity to ask questions if time permits during the call [2] Group 2 - Shareholders can access the earnings call through a provided link or directly from the company's website under the Investor Relations section [2]

Core Viewpoint - Security National Financial Corporation (SNFC) reported significant financial growth for the year ended December 31, 2024, with after-tax earnings from operations increasing by 83% to $26,536,000, driven by a 5% rise in revenues to $334,523,000 [1][2]. Financial Performance - After-tax earnings from operations rose from $14,495,000 in 2023 to $26,536,000 in 2024, marking an 83% increase [1]. - Total revenues increased from $318,497,000 in 2023 to $334,523,000 in 2024, reflecting a 5% growth [1]. - Net earnings per common share improved from $0.61 in 2023 to $1.11 in 2024 [2]. - Book value per common share increased from $13.44 as of December 31, 2023, to $14.45 as of December 31, 2024 [2]. Business Segments Performance - **Life Insurance Segment**: Revenues grew from $185,176,000 in 2023 to $191,530,000 in 2024 (3.4% increase), with earnings before taxes rising from $25,272,000 to $31,456,000 (24.5% increase) [2]. - **Cemeteries and Mortuaries Segment**: Revenues increased from $31,938,000 in 2023 to $33,022,000 (3.4% increase), with earnings before taxes improving from $8,444,000 to $8,861,000 (4.9% increase) [2]. - **Mortgages Segment**: Revenues rose from $101,383,000 in 2023 to $109,971,000 (8.5% increase), while losses decreased from $17,416,000 to $6,213,000 (64% reduction) [2]. Management Insights - The Chairman and CEO highlighted the company's solid progress in 2024, particularly in the Life Insurance and Cemetery/Mortuary segments, which achieved their best operational years [2]. - The company has focused on modernizing commission systems and improving sales force value propositions to enhance performance [2]. - The management team is actively working on streamlining operations and improving customer experience in a challenging mortgage industry environment [2].

Development Projects - The Company has developed or is in the process of developing assets with an initial development cost exceeding $100,000,000, primarily related to the Center53 Development and multiple single-family residential projects[51] - The first phase of the Center53 Development, completed in July 2017, is currently 88% leased, while the second phase, which began in March 2020, is currently 100% leased[52] Employment and Workforce - As of December 31, 2024, the Company employed 1,186 full-time and 235 part-time employees, with 678 in the mortgage segment, 388 in the life insurance segment, and 120 in the cemetery and mortuary segment[66] - The Company sponsors a 401(k) retirement plan for each business segment, with matching contributions based on employee contributions[68] Sales and Marketing - The Company actively seeks to sell its cemetery and funeral products on a pre-need basis, employing commission-based sales representatives[46] - The Company's residential mortgage lending services are marketed primarily to real estate brokers, builders, and directly to consumers, with a strong presence in Utah, Florida, Texas, Nevada, and Arizona[50] Investment Portfolio - The Company maintains a diversified investment portfolio consisting of common stocks, preferred stocks, municipal bonds, corporate bonds, mortgage loans, real estate, and other securities[42] Regulatory Environment - The Company's life insurance subsidiaries are subject to regulations in multiple states, including Utah, Louisiana, Mississippi, and Texas, which may cause unforeseen costs and operational restrictions[54] - The Company is subject to comprehensive regulations under the Federal Trade Commission's funeral industry rules and state regulations for its cemetery and mortuary operations[56] Industry Competition - The life insurance industry is highly competitive, with approximately 700 legal reserve life insurance companies in the U.S., and the Company competes with larger firms that have more diversified product lines[61]

Core Viewpoint - The passing of Mia Love, a respected board member of Security National, is a significant loss for the company and the community, highlighting her contributions and legacy in public service and governance [1][2][3]. Company Contributions - Mia Love served as a board member of Security National, providing invaluable leadership and insight that advanced the company's mission and commitment to excellence [2]. - Her expertise in public policy and strategic development was crucial in strengthening the company's governance [2]. Leadership Impact - Scott Quist, CEO of Security National, expressed deep sorrow over Mia Love's passing, emphasizing her integrity, wisdom, and compassion as a leader [3]. - Love's contributions extended beyond the company, as she was recognized for her advocacy and commitment to improving lives through her political career [3]. Community Legacy - Mia Love is remembered for her pioneering spirit and unwavering commitment to service, leaving a lasting legacy in both the company and the broader community [3].

Revenue Growth - Total revenues increased by $8,032,000, or 10.0%, to $88,274,000 for the three-month period ended September 30, 2024, compared to $80,242,000 for the same period in 2023[264] - Total revenues increased by $11,664,000, or 4.8%, to $255,253,000 for the nine-month period ended September 30, 2024, from $243,589,000 for the same period in 2023[278] Mortgage Operations - Mortgage fee income rose by $5,288,000, or 21.2%, to $30,224,000 for the three-month period ended September 30, 2024, from $24,936,000 for the comparable period in 2023[265] - Mortgage fee income increased by $4,671,000, or 6.1%, to $81,675,000 for the nine-month period ended September 30, 2024, from $77,004,000 for the same period in 2023[279] - The fair value of loans held for sale increased by $4,834,000 for the nine-month period ended September 30, 2024, contributing to improved profitability in mortgage operations[262] - For the nine-month period ended September 30, 2024, the company originated 5,505 loans totaling $1,723,036,000, compared to 5,680 loans totaling $1,708,831,000 for the same period in 2023[260] Insurance Operations - Earnings before income taxes for the insurance operations increased by 72% to $12,358,000 for the three-month period ended September 30, 2024, compared to $7,175,000 for the same period in 2023[253] - The company experienced a 355% increase in gains on investments and other assets for the insurance operations, reaching $1,317,000 for the three-month period ended September 30, 2024, compared to a loss of $516,000 for the same period in 2023[253] - Insurance premiums and other considerations increased by $1,104,000, or 3.8%, to $30,011,000 for the three-month period ended September 30, 2024, from $28,907,000 for the same period in 2023[266] - Insurance premiums and other considerations increased by $4,136,000, or 4.8%, to $89,824,000 for the nine-month period ended September 30, 2024, from $85,688,000 for the same period in 2023[280] Cemetery and Mortuary Operations - Total revenues from cemetery and mortuary operations increased by 15% to $8,543,000 for the three-month period ended September 30, 2024, compared to $7,416,000 for the same period in 2023[256] - The company reported a 93% increase in earnings before income taxes for cemetery and mortuary operations, reaching $2,840,000 for the three-month period ended September 30, 2024, compared to $1,470,000 for the same period in 2023[256] - Net mortuary and cemetery sales decreased by $420,000, or 5.8%, to $6,814,000 for the three-month period ended September 30, 2024, from $7,234,000 for the same period in 2023[268] Investment Performance - Gains on investments and other assets increased by $2,280,000 to $1,348,000 in net gains for the three-month period ended September 30, 2024, compared to $932,000 in net losses for the same period in 2023[269] - Net investment income decreased by $1,449,000, or 7.5%, to $17,799,000 for the three-month period ended September 30, 2024, compared to $19,248,000 for the same period in 2023[267] Financial Position - The company's operations provided cash of approximately $34,894,000 for the nine-month period ended September 30, 2024, compared to approximately $18,384,000 for the same period in 2023[292] - The Company's total capitalization increased to $453,312,000 as of September 30, 2024, from $418,450,000 as of December 31, 2023, driven by a $33,427,000 rise in stockholders' equity[298] - Stockholders' equity as a percentage of total capitalization improved to 76.4% as of September 30, 2024, compared to 74.8% as of December 31, 2023[298] - The combined statutory capital and surplus of the Company's life insurance subsidiaries rose to approximately $121,504,000 as of September 30, 2024, from $107,385,000 as of December 31, 2023[300] Operational Efficiency - Selling, general and administrative expenses decreased by $2,100,000, or 1.6%, to $128,952,000 for the nine-month period ended September 30, 2024, from $131,052,000 for the same period in 2023[287] - Interest expense decreased by $858,000, or 21.3%, to $3,162,000 for the nine-month period ended September 30, 2024, from $4,020,000 for the same period in 2023[288] Compliance and Control - The Company's disclosure controls and procedures were deemed effective as of September 30, 2024, ensuring compliance with SEC reporting requirements[301] - There have been no significant changes in the Company's internal control over financial reporting that materially affected its effectiveness during the last fiscal quarter[302] - The Company is not involved in any material legal proceedings that could adversely impact its financial condition or results of operations[304] Lapse Rate - The lapse rate for life insurance was 4.4% in 2023, slightly up from 4.3% in 2022, with 2024's lapse rate remaining consistent with 2023[299]

Core Viewpoint - Security National Financial Corporation (SNFC) reported significant financial growth for the quarter and six months ended June 30, 2024, with after-tax earnings increasing nearly 15% and 94% respectively compared to the same periods in 2023 [1]. Financial Performance - For the three months ended June 30, 2024, after-tax earnings rose from $6,353,000 in 2023 to $7,272,000 in 2024, marking a 14.5% increase [1]. - For the six months ended June 30, 2024, after-tax earnings increased from $7,593,000 in 2023 to $14,746,000 in 2024, representing a 94% growth [1]. Business Segments Overview - **Life Insurance**: Revenues decreased by 1.7% from $48,071,000 in 2023 to $47,237,000 in 2024, with earnings before taxes dropping by 21.8% from $9,158,000 to $7,165,000 [2]. - **Cemeteries/Mortuaries**: Revenues fell by 6.1% from $8,812,000 in 2023 to $8,278,000 in 2024, with earnings before taxes decreasing by 26.1% from $2,828,000 to $2,091,000 [2]. - **Mortgages**: Revenues increased by 12.3% from $26,963,000 in 2023 to $30,276,000 in 2024, with earnings before taxes improving significantly from a loss of $3,837,000 to a profit of $134,000, a 103.5% change [2]. Total Revenue and Earnings - Total revenues for the three months ended June 30, 2024, were $85,791,000, a 2.3% increase from $83,846,000 in 2023, while earnings before taxes rose by 15.2% from $8,149,000 to $9,390,000 [2]. - For the six months ended June 30, 2024, total revenues were $166,980,000, a 2.2% increase from $163,347,000 in 2023, with earnings before taxes soaring by 95.3% from $9,734,000 to $19,009,000 [3]. Earnings Per Share and Book Value - Net earnings per common share for the six months ended June 30, 2024, were $0.62, compared to $0.32 per share for the prior year [4]. - Book value per common share was $13.91 as of June 30, 2024, down from $14.11 as of December 31, 2023 [4].