XML 44 R34.htm IDEA: XBRL DOCUMENT v3.20.2
Discontinued Operations (Tables)
6 Months Ended
Jun. 30, 2020
Discontinued Operations  
Schedule of discontinued operations

December 31,

    

2019

Assets

Cash and due from banks

$

51,333

Securities:

Available for sale, at fair value

86,899

Equity, at fair value

19,841

106,740

Premises and equipment, net

9,607

Operating lease right-of-use assets

2,739

Other assets

50,533

Goodwill

23,988

Other intangible assets, net

3,489

Total assets of discontinued operations

$

248,429

Liabilities

Notes payable

$

27,500

Operating lease liabilities

2,783

Other liabilities

110,391

Total liabilities of discontinued operations

$

140,674

Three Months Ended June 30,

Six Months Ended June 30,

2020

    

2019

2020

2019

Interest income:

Securities:

Taxable

$

814

$

906

$

1,752

$

1,866

Other

4

150

71

292

Total interest income

818

1,056

1,823

2,158

Interest expense:

Notes payable

369

464

775

924

Noninterest income:

Net insurance premiums earned

32,440

33,466

65,077

66,669

Other

5,297

2,702

3,051

6,004

Total noninterest income

37,737

36,168

68,128

72,673

Noninterest expense:

Employees' compensation and benefits

3,225

2,784

6,002

5,986

Occupancy and equipment, net

217

281

464

525

Professional services

9,674

9,980

18,201

18,813

Loss and loss adjustment expenses

25,470

24,981

38,419

39,907

Other

1,511

1,563

3,987

4,696

Total noninterest expense

40,097

39,589

67,073

69,927

Income (loss) from discontinued operations before income taxes

(1,911)

(2,829)

2,103

3,980

Gain on disposal of discontinued operations

32,341

32,341

Income tax (benefit) expense

(345)

(575)

518

874

Income (loss) from discontinued operations, net of income taxes

$

30,775

$

(2,254)

$

33,926

$

3,106

Schedule of effects of reinsurance on premiums written and earned

The effects of reinsurance on premiums written and earned are included within discontinued operations for all periods presented and are summarized as follows (in thousands).

Three Months Ended June 30,

Six Months Ended June 30,

2020

2019

2020

2019

    

Written

    

Earned

    

Written

    

Earned

    

Written

    

Earned

    

Written

    

Earned

 

Premiums from direct business

$

33,831

$

30,638

$

35,562

$

31,727

$

63,811

$

61,384

$

66,352

$

63,463

Reinsurance assumed

 

3,444

 

3,208

 

3,622

 

3,256

 

6,396

 

6,452

 

6,751

 

6,448

Reinsurance ceded

 

(1,406)

 

(1,406)

 

(1,517)

 

(1,517)

 

(2,759)

 

(2,759)

 

(3,242)

 

(3,242)

Net premiums

$

35,869

$

32,440

$

37,667

$

33,466

$

67,448

$

65,077

$

69,861

$

66,669

Schedule of effects of reinsurance on incurred losses

The effects of reinsurance on incurred losses and LAE are included within discontinued operations for all periods and are as follows (in thousands).

Three Months Ended June 30,

Six Months Ended June 30,

 

    

2020

    

2019

    

2020

    

2019

 

Losses and LAE incurred

$

25,462

$

23,959

$

38,225

$

38,943

Reinsurance recoverables

 

8

 

1,022

 

194

 

964

Net loss and LAE incurred

$

25,470

$

24,981

$

38,419

$

39,907