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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net income $ 47,145 $ 55,436 $ 62,108
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 742 1,093 1,427
Net amortization of investments 563 1,447 3,025
Change in investment related allowance for credit losses (43) (66) (57)
Deferred income taxes 372 1,402 628
Net realized (gains) losses on investments (3,034) 576 (6,579)
Net unrealized gains on equity securities (3,719) (9,508) (1,228)
Net realized losses on disposal of assets 0 209 2
Share-based compensation 2,907 2,939 1,557
Changes in operating assets and liabilities:      
Premiums receivable, net (18,238) (12,056) (8,485)
Accrued interest receivable 364 947 154
Deferred policy acquisition costs (1,934) (1,176) (574)
Amounts held by others (2)    
Other assets (135) 6,688 (1,033)
Reserves for loss and loss adjustment expenses (37,726) (22,685) (22,043)
Unearned premiums 13,577 5,341 1,609
Reinsurance balances 9,129 11,926 (3,740)
Amounts held for others and policyholder deposits 147 (15,692) 3,093
Federal income taxes recoverable (908) (399) (328)
Accounts payable and other liabilities 1,863 (2,232) 306
Net cash provided by operating activities 11,070 24,190 29,842
Investing activities      
Purchases of investments held-to-maturity   (5,465) (42,190)
Purchases of investments available-for-sale (43,123) (48,939) (45,141)
Purchases of equity securities (254)    
Purchases of short-term investments (23,623) (56,295) (46,347)
Proceeds from maturities of investments held-to-maturity 65,020 71,066 47,151
Proceeds from sales and maturities of investments available-for-sale 45,371 57,194 57,153
Proceeds from sales of equity securities 8,232 7,933 12,688
Proceeds from sales and maturities of short-term investments 18,948 47,717 61,123
Purchases of property and equipment (2,148) (840) (553)
Net cash provided by investing activities 68,423 72,371 43,884
Financing activities      
Finance lease purchases (85) (85) (91)
Share-based compensation related tax withholding (817) (554) (944)
Purchase of treasury stock (12,103) (5,123) (2,171)
Dividends to shareholders (48,607) (85,436) (93,307)
Net cash used in financing activities (61,612) (91,198) (96,513)
Change in cash and cash equivalents 17,881 5,363 (22,787)
Cash and cash equivalents at beginning of year 44,045 38,682 61,469
Cash and cash equivalents at end of year 61,926 44,045 38,682
Supplemental disclosure of cash flow information      
Income taxes paid, net of refunds received $ 12,450 $ 12,849 $ 14,912