XML 17 R4.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Net premiums earned $ 275,993 $ 304,427 $ 332,888
Net investment income 25,435 29,364 32,483
Net realized gains (losses) on investments 1,695 1,132 (80)
Net unrealized gains on equity securities 12,315 4,204 4,758
Fee and other income 496 350 321
Total revenues 315,934 339,477 370,370
Expenses      
Loss and loss adjustment expenses incurred 160,798 157,226 176,342
Underwriting and certain other operating costs 24,813 20,834 22,221
Commissions 21,284 23,147 25,010
Salaries and benefits 25,954 27,925 27,120
Policyholder dividends 3,715 3,453 4,160
Provision for investment related credit loss benefit (79) (27)  
Total expenses 236,485 232,558 254,853
Income before income taxes 79,449 106,919 115,517
Income tax expense 13,693 20,317 22,827
Net income $ 65,756 $ 86,602 $ 92,690
Earnings per share      
Basic $ 3.40 $ 4.49 $ 4.82
Diluted $ 3.39 $ 4.47 $ 4.80
Shares used in computing earnings per share      
Basic 19,332,391 19,288,996 19,248,657
Diluted 19,408,619 19,363,809 19,329,238
Extraordinary cash dividends declared per common share $ 4.00 $ 3.50 $ 3.50
Cash dividends declared per common share $ 1.16 $ 1.08 $ 1.00