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Condensed Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenue        
Gross premiums earned $ 53,772 $ 31,218 $ 108,470 $ 62,114
Premiums ceded (17,497) (14,174) (31,826) (28,396)
Net premiums earned 36,275 17,044 76,644 33,718
Net investment income 302 507 824 1,071
Policy fee income 1,028 667 1,543 854
Realized investment gains 9 140 30 293
Gain on bargain purchase 179 936 179 936
Other 1,062 187 1,287 658
Total revenue 38,855 19,481 80,507 37,530
Expenses        
Losses and loss adjustment expenses 16,197 10,523 35,365 20,926
Policy acquisition and other underwriting expenses 5,915 2,780 12,500 7,043
Other operating expenses 4,734 2,357 9,252 4,484
Total expenses 26,846 15,660 57,117 32,453
Income before income taxes 12,009 3,821 23,390 5,077
Income taxes 4,747 1,520 9,160 1,983
Net Income 7,262 2,301 14,230 3,094
Preferred stock dividends (63) (361) (244) (378)
Income available to common stockholders $ 7,199 $ 1,940 $ 13,986 $ 2,716
Basic earnings per common share $ 0.85 $ 0.32 $ 1.89 $ 0.44
Diluted earnings per common share $ 0.74 $ 0.30 $ 1.60 $ 0.43
Dividends per common share $ 0.20 $ 0.10 $ 0.35 $ 0.20