XML 104 R89.htm IDEA: XBRL DOCUMENT v3.23.1
Schedule II - Condensed Financial Information of Registrant - Statement of Cash Flows (Details) - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities      
Net income (loss) $ (10,681,000) $ (1,094,000) $ 595,000
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 417,000 423,000 437,000
Stock-based compensation expense (368,000) (824,000) (839,000)
Deferred income tax expense (9,396,000) (0) 0
Other (gain) loss (59,000) (11,664,000) (260,000)
Changes in operating assets and liabilities:      
Other assets (138,000) 949,000 908,000
Net cash provided by operating activities (40,474,000) 5,355,000 2,982,000
Cash Flows From Investing Activities      
Contributions to subsidiaries [1] (1,947,000)    
Purchases of investments (318,227,000) (226,794,000) (391,588,000)
Net cash provided by (used in) investing activities 56,503,000 1,377,000 (7,337,000)
Cash Flows From Financing Activities      
Proceeds received from issuance of shares of common stock 5,000,000    
Repurchase of common stock 10,000 (12,000) (36,000)
Net cash provided by (used in) financing activities 2,093,000 (5,012,000) 5,084,000
Net increase (decrease) in cash 18,122,000 1,720,000 729,000
Cash at beginning of period 9,913,000 8,193,000 7,464,000
Cash at end of period 28,035,000 9,913,000 8,193,000
Supplemental Disclosure of Cash Flow Information:      
Interest paid 2,979,000 2,883,000 2,586,000
Parent Company      
Cash Flows from Operating Activities      
Net income (loss) (10,681,000) (1,094,000) 595,000
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 436,000 415,000 421,000
Equity in undistributed (income) loss of subsidiaries 2,748,000 4,202,000 (4,156,000)
Stock-based compensation expense 211,000 218,000 706,000
Deferred income tax expense 3,884,000    
Other (gain) loss   (2,593,000) (260,000)
Changes in operating assets and liabilities:      
Due from subsidiaries 2,699,000 8,800,000 (852,000)
Due from Affiliate 107,000 (220,000) 214,000
Current income tax recoverable 0 0 539,000
Other assets 62,000 890,000 625,000
Other liabilities (203,000) (915,000) (715,000)
Net cash provided by operating activities (737,000) 9,703,000 (2,883,000)
Cash Flows From Investing Activities      
Contributions to subsidiaries 4,000,000 (5,400,000) (1,150,000)
Dividends received from subsidiaries 0 0 0
Purchases of investments 0 0 (79,000)
Purchases of property and equipment 0 (20,000) 0
Net cash provided by (used in) investing activities 4,000,000 (5,420,000) (1,229,000)
Cash Flows From Financing Activities      
Proceeds received from issuance of shares of common stock 5,000,000 0 0
Repurchase of common stock 10,000 (12,000) (36,000)
Borrowings under debt arrangements 5,000,000 3,000,000 5,745,000
Repayment of lines of credit (5,000,000) (8,000,000) (625,000)
Stock and debt issuance costs 0 0 0
Net cash provided by (used in) financing activities 5,010,000 (5,012,000) 5,084,000
Net increase (decrease) in cash 8,273,000 (729,000) 972,000
Cash at beginning of period 749,000 1,478,000 506,000
Cash at end of period 9,022,000 749,000 1,478,000
Supplemental Disclosure of Cash Flow Information:      
Interest paid $ 2,979,000 $ 2,883,000 $ 2,586,000
[1] See Note 2 ~ VSRM Transaction