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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Investments:    
Fixed maturity securities-held-to-maturity, at amortized cost net of allowance for credit losses of $100 and $116 in 2025 and 2024, respectively, (fair value $385,981 and $399,721 in 2025 and 2024, respectively) $ 399,241 $ 413,061
Fixed maturity securities-available-for-sale, at fair value (amortized cost $323,931, allowance for credit losses of $0 in 2025 and amortized cost $318,975, allowance for credit losses of $0 in 2024) 314,726 307,750
Equity securities, at fair value (cost $36,020 in 2025 and 2024) 55,476 58,629
Short-term investments 11,569 9,338
Total investments 781,012 788,778
Cash and cash equivalents 44,753 44,045
Amounts recoverable from reinsurers (net of allowance for credit losses of $294 and $300 in 2025 and 2024, respectively) 114,278 117,019
Premiums receivable (net of allowance for credit losses of $4,129 and $4,238 in 2025 and 2024, respectively) 156,746 142,659
Deferred income taxes 19,112 19,448
Accrued interest receivable 7,747 7,327
Property and equipment, net 5,675 5,887
Deferred policy acquisition costs 20,422 19,151
Federal income tax recoverable 96 2,180
Other assets 6,876 11,297
Total assets 1,156,717 1,157,791
Liabilities:    
Reserves for loss and loss adjustment expenses 639,965 651,309
Unearned premiums 132,646 121,926
Amounts held for others 33,761 38,657
Policyholder deposits 33,462 33,867
Insurance-related assessments 15,888 14,852
Accounts payable and other liabilities 37,858 38,409
Payable for investments purchased 2,324 1,430
Total liabilities 895,904 900,450
Shareholders’ equity:    
Common stock: voting-$0.01 par value authorized shares-50,000,000 in 2025 and 2024; 20,733,166 shares issued and 19,050,315 shares outstanding in 2025 and 2024 207 207
Additional paid-in capital 224,327 223,956
Treasury stock, at cost (1,682,851 shares in 2025 and 2024) (42,052) (42,052)
Accumulated earnings 85,600 84,105
Accumulated other comprehensive loss, net (7,269) (8,875)
Total shareholders’ equity 260,813 257,341
Total liabilities and shareholders’ equity $ 1,156,717 $ 1,157,791