XML 27 R6.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
OPERATING ACTIVITIES      
Net income $ 5,698 $ 27,358 $ 41,013
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 11,713 3,328 801
Accretion (Amortization) of Discounts and Premiums, Investments (3,677) (1,997) (1,522)
Gain (Loss) on Sale of Securities, Net (547) (827) 20
Provision for uncollectible premiums/over and short 64 272 73
Deferred income taxes, net 2,210 2,305 (1,181)
Share-based Compensation 1,947 1,974 649
Changes in operating assets and liabilities:      
Accrued investment income (172) (676) (487)
Premiums receivable 5,409 (8,577) (5,366)
Reinsurance recoverable on paid and unpaid losses (18,459) (893) 358
Prepaid reinsurance premiums (53,165) (15,572) (8,559)
Deferred policy acquisition costs, net (18,741) (14,807) (6,739)
Other assets (11,006) (3,897) (1,493)
Unpaid losses and loss adjustment expenses 39,096 19,966 6,985
Unearned premiums 41,327 65,521 36,058
Reinsurance payable 36,391 18,290 5,771
Other Liabilities 20,305 2,557 (507)
Net Cash Provided by (Used in) Operating Activities 65,747 98,319 68,918
INVESTING ACTIVITIES      
Proceeds from sales and maturities of investments available for sale 187,522 199,575 219,893
Purchases of investments available for sale (201,234) (270,141) (305,013)
Cash Acquired from Acquisition 0 14,467 0
Payments to Acquire Businesses, Net of Cash Acquired (32,896) 0 0
Payments to Acquire Property, Plant, and Equipment (3,149) (10,916) (6,346)
Net Cash Provided by (Used in) Investing Activities (49,757) (67,015) (91,466)
FINANCING ACTIVITIES      
Payments Related to Tax Withholding for Share-based Compensation (270) (185) (110)
Repayments of borrowings (1,379) (3,422) (1,177)
Proceeds from Issuance of Long-term Debt 35,200 0 0
Payments of Debt Issuance Costs (596) 0 0
Payments of Dividends (4,974) (4,302) (3,336)
Bank overdrafts (21,931) 0 367
Proceeds from Issuance of Common Stock 0 0 54,041
Net Cash Provided by (Used in) Financing Activities 49,912 (7,909) 49,051
Increase (decrease) in cash 65,902 23,395 26,503
Cash and cash equivalents at beginning of period 84,786 61,391 34,888
Cash and cash equivalents at end of period 150,688 84,786 61,391
Supplemental Cash Flows Information      
Interest paid 285 296 389
Income taxes paid $ 7,194 $ 13,223 $ 27,901