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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Investments:    
Fixed maturity securities-held-to-maturity, at amortized cost net of allowance for credit losses of $149 and $182 in 2024 and 2023, respectively, (fair value $448,608 and $473,092 in 2024 and 2023, respectively) $ 464,834 $ 483,575
Fixed maturity securities - available-for-sale, at fair value (amortized cost $299,652, allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023) 287,589 317,064
Equity securities, at fair value (cost $36,019 and $44,046 in 2024 and 2023, respectively) 53,839 57,147
Short-term investments 47,335 0
Total investments 853,597 857,786
Cash and cash equivalents 30,611 38,682
Amounts recoverable from reinsurers (net of allowance for credit losses of $322 and $360 in 2024 and 2023, respectively) 123,335 129,963
Premiums receivable (net of allowance for credit losses of $4,265 and $4,674 in 2024 and 2023, respectively) 150,914 132,861
Deferred income taxes 21,781 20,403
Accrued interest receivable 8,176 8,274
Property and equipment, net 6,384 6,349
Deferred policy acquisition costs 19,506 17,975
Federal income tax recoverable 1,555 1,781
Other assets 17,670 15,088
Total assets 1,233,529 1,229,162
Liabilities:    
Reserves for loss and loss adjustment expenses 663,985 673,994
Unearned premiums 128,055 116,585
Amounts held for others 48,403 53,694
Policyholder deposits 34,167 34,522
Insurance-related assessments 16,661 16,896
Accounts payable and other liabilities 38,766 41,020
Payable for investments purchased 2,500  
Total liabilities 932,537 936,711
Shareholders’ equity:    
Common stock: voting-$0.01 par value authorized shares-50,000,000 in 2024 and 2023; 20,729,551 and 20,704,448 shares issued; and 19,068,286 and 19,135,008 shares outstanding in 2024 and 2023, respectively 207 207
Additional paid-in capital 223,359 222,078
Treasury stock, at cost (1,661,265 and 1,569,440 shares in 2024 and 2023) (41,042) (36,929)
Accumulated earnings 128,028 114,289
Accumulated other comprehensive loss, net (9,560) (7,194)
Total shareholders’ equity 300,992 292,451
Total liabilities and shareholders’ equity $ 1,233,529 $ 1,229,162