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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Taxes  
Summary of income tax expense in the Consolidated Statements of Operations

Years Ended December 31,

2025

2024

2023

Current Income Taxes:

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Federal

$

29,049

$

18,676

$

3,614

State

 

310

 

75

 

276

 

29,359

 

18,751

 

3,890

Deferred Income Taxes:

Federal

 

(1,931)

 

380

 

1,655

State

 

 

 

 

(1,931)

 

380

 

1,655

Total income tax expense

$

27,428

$

19,132

$

5,545

Schedule of sources of the difference and the tax effects

Years Ended December 31,

2025

2024

2023

Amount

Percentage

Amount

Percentage

Amount

Percentage

Federal income tax expense at statutory rate

  ​ ​ ​

$

26,603

21.0

%

  ​ ​ ​

$

18,872

21.0

%

  ​ ​ ​

$

5,128

21.0

%

Investment income, net

 

(280)

(0.2)

 

(314)

(0.3)

 

(364)

(1.5)

State taxes, net

 

245

0.2

 

59

0.1

 

218

0.9

Nondeductible expenses

 

1,073

0.9

 

695

0.7

 

400

1.6

Tax related to share-based stock compensation

 

237

0.2

 

156

0.2

 

213

0.9

Other, net

 

(450)

(0.4)

 

(336)

(0.4)

 

(50)

(0.2)

Total income tax expense

$

27,428

21.7

%

$

19,132

21.3

%

$

5,545

22.7

%

Schedule of deferred income tax asset (liability) representing the tax effects of temporary differences attributable to the Company's consolidated federal tax return group

Years Ended December 31,

 

2025

2024

 

Deferred tax assets:

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Discounting of loss reserves

$

6,543

$

5,504

Discounting of unearned premium reserve

 

26,488

 

24,723

Net unrealized losses on investments

63

9,078

Bad debt allowance

 

183

 

207

Employee benefits

 

3,783

 

4,164

Rent incentive

 

342

 

456

Other

 

189

 

123

Total deferred tax assets before valuation allowance

 

37,591

 

44,255

Valuation allowance for deferred tax assets

 

 

Total deferred tax assets

 

37,591

 

44,255

Deferred tax liabilities:

Deferred acquisition costs

 

(23,476)

 

(22,150)

Investments

 

(8,143)

 

(8,493)

Loss reserve transition adjustment

 

 

(277)

Software development costs

 

(903)

 

(1,189)

Premium acquisition expenses

 

(559)

 

(363)

Depreciation

 

(394)

 

(583)

Total deferred tax liabilities

 

(33,475)

 

(33,055)

Net deferred tax assets (liability)

$

4,116

$

11,200