XML 8 R2.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Investments:    
Fixed maturity securities-held-to-maturity, at amortized cost net of allowance for credit losses of $88 and $116 in 2025 and 2024, respectively, (fair value $371,355 and $399,721 in 2025 and 2024, respectively) $ 384,822 $ 413,061
Fixed maturity securities - available-for-sale, at fair value (amortized cost $316,286, allowance for credit losses of $0 in 2025 and amortized cost $318,975, allowance for credit losses of $0 in 2024) 306,715 307,750
Equity securities, at fair value (cost $31,164 and $36,020 in 2025 and 2024, respectively) 52,451 58,629
Short-term investments 14,900 9,338
Total investments 758,888 788,778
Cash and cash equivalents 48,465 44,045
Amounts recoverable from reinsurers (net of allowance for credit losses of $290 and $300 in 2025 and 2024, respectively) 115,771 117,019
Premiums receivable (net of allowance for credit losses of $3,887 and $4,238 in 2025 and 2024, respectively) 166,344 142,659
Deferred income taxes 20,073 19,448
Accrued interest receivable 7,458 7,327
Property and equipment, net 6,563 5,887
Deferred policy acquisition costs 21,149 19,151
Federal income tax recoverable 2,395 2,180
Other assets 8,008 11,297
Total assets 1,155,114 1,157,791
Liabilities:    
Reserves for loss and loss adjustment expenses 624,095 651,309
Unearned premiums 138,784 121,926
Amounts held for others 35,971 38,657
Policyholder deposits 33,974 33,867
Insurance-related assessments 17,386 14,852
Accounts payable and other liabilities 39,293 38,409
Payable for investments purchased 41 1,430
Total liabilities 889,544 900,450
Shareholders’ equity:    
Common stock: voting - $0.01 par value authorized shares - 50,000,000 in 2025 and 2024; 20,764,355 and 20,733,166 shares issued; and 19,018,747 and 19,050,315 shares outstanding in 2025 and 2024, respectively 208 207
Additional paid-in capital 225,674 223,956
Treasury stock, at cost (1,745,608 and 1,682,851 shares in 2025 and 2024, respectively) (44,848) (42,052)
Accumulated earnings 92,097 84,105
Accumulated other comprehensive loss, net (7,561) (8,875)
Total shareholders’ equity 265,570 257,341
Total liabilities and shareholders’ equity $ 1,155,114 $ 1,157,791