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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income $ 36,722 $ 42,242
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 592 835
Net amortization of investments 491 1,076
Change in investment related allowance for credit losses (36) (46)
Deferred income taxes (788) (297)
Net realized (gains) losses on investments (3,118) 181
Net unrealized gains on equity securities (2,794) (8,591)
Net realized losses on disposal of assets   209
Share-based compensation 2,621 2,161
Changes in operating assets and liabilities:    
Premiums receivable, net (25,029) (22,107)
Accrued interest receivable (305) 82
Deferred policy acquisition costs (2,607) (2,173)
Amounts held by others (2)  
Other assets 966 (1,487)
Reserves for loss and loss adjustment expenses (33,449) (10,508)
Unearned premiums 21,649 15,409
Reinsurance balances 3,118 263
Amounts held for others and policyholder deposits (859) (4,250)
Federal income taxes recoverable (687) (978)
Accounts payable and other liabilities 3,962 1,342
Net cash provided by operating activities 447 13,363
Investing activities    
Purchases of investments held-to-maturity   (5,465)
Purchases of investments available-for-sale (26,720) (33,956)
Purchases of equity securities (254)  
Purchases of short-term investments (13,077) (46,957)
Proceeds from maturities of investments held-to-maturity 43,074 50,988
Proceeds from sales and maturities of investments available-for-sale 24,900 45,532
Proceeds from sales of equity securities 8,232 7,933
Proceeds from sales and maturities of short-term investments 3,504 21,364
Purchases of property and equipment (1,975) (826)
Net cash provided by investing activities 37,684 38,613
Financing activities    
Finance lease purchases (63) (64)
Share-based compensation related tax withholding (810) (541)
Purchase of treasury stock (4,143) (5,121)
Dividends to shareholders (22,413) (21,269)
Net cash used in financing activities (27,429) (26,995)
Change in cash and cash equivalents 10,702 24,981
Cash and cash equivalents at beginning of period 44,045 38,682
Cash and cash equivalents at end of period $ 54,747 $ 63,663