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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue and Other Income        
Gross earned premiums $ 30,228 $ 25,959 $ 58,475 $ 52,012
Ceded earned premiums (5,390) (4,201) (10,802) (8,237)
Net earned premiums 24,838 21,758 47,673 43,775
Net investment income 503 863 1,035 1,817
Net realized investment gains 1,060 245 3,984 1,173
Change in fair value of equity securities (525) 1,576 (1,065) (1,510)
Other gains 8,910 145 8,910 260
Other income 666 713 1,222 1,371
Total revenue and other income 35,452 25,300 61,759 46,886
Expenses        
Losses and loss adjustment expenses, net 17,926 11,945 37,288 26,214
Policy acquisition costs 6,896 6,395 13,646 12,698
Operating expenses 4,342 4,859 8,691 9,904
Interest expense 732 731 1,453 1,462
Total expenses 29,896 23,930 61,078 50,278
Income (loss) before equity earnings in Affiliate and income taxes 5,556 1,370 681 (3,392)
Equity earnings in Affiliate, net of tax 180 179 428 229
Income tax expense 184 44 193 57
Net income (loss) $ 5,552 $ 1,505 $ 916 $ (3,220)
Earnings (loss) per common share, basic and diluted $ 0.57 $ 0.16 $ 0.09 $ (0.34)
Weighted average common shares outstanding, basic and diluted [1] 9,686,631 9,595,668 9,684,193 9,594,221
[1] The non-vested shares of the restricted stock units and stock options were anti-dilutive as of June 30, 2021 and 2020.  Therefore, the basic and diluted weighted average common shares are equal for the three and six months ended June 30, 2021 and 2020