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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Gross premiums written $ 87,039 $ 103,224 $ 182,117 $ 203,606
Ceded premiums written (2,198) (2,550) (4,589) (5,101)
Net premiums written 84,841 100,674 177,528 198,505
Net premiums earned 82,749 90,728 173,661 186,689
Net investment income 7,471 6,201 14,181 12,245
Net realized gains (losses) on investments (388) 545 (569) 793
Fee and other income 93 89 194 171
Total revenues 89,925 97,563 187,467 199,898
Expenses        
Loss and loss adjustment expenses incurred 46,428 49,171 102,644 95,887
Underwriting and certain other operating costs 7,645 9,749 16,145 17,221
Commissions 5,984 6,491 12,394 13,369
Salaries and benefits 6,554 6,321 12,866 12,105
Policyholder dividends 1,163 1,216 2,534 2,306
Total expenses 67,774 72,948 146,583 140,888
Income before income taxes 22,151 24,615 40,884 59,010
Income tax expense 6,670 7,976 11,879 18,114
Net income 15,481 16,639 29,005 40,896
Net income available to common shareholders $ 15,481 $ 16,639 $ 29,005 $ 40,896
Earnings per share        
Basic $ 0.81 $ 0.87 $ 1.51 $ 2.14
Diluted $ 0.81 $ 0.87 $ 1.51 $ 2.13
Shares used in computing earnings per share        
Basic 19,162,049 19,096,718 19,156,250 19,077,328
Diluted 19,227,960 19,184,984 19,227,997 19,178,893
Cash dividends declared per common share $ 0.20 $ 0.18 $ 0.40 $ 0.36