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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows From Operating Activities    
Net income (loss) $ (12,792) $ (293)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Gain on sale of agency business 0 (8,910)
Depreciation and amortization 306 320
Amortization of bond premium and discount, net 292 388
Net realized investment (gains) losses 1,505 (3,917)
Change in fair value of equity securities (446) 3,234
Stock-based compensation expenses 154 184
Equity earnings in Affiliate, net of tax (368) (612)
Other gains/losses 93 (2,728)
(Increase) decrease in:    
Premiums and agents' balances and other receivables (737) (2,022)
Reinsurance recoverables (2,547) (1,040)
Prepaid reinsurance premiums (7,032) (2,909)
Deferred policy acquisition costs 1,784 (1,368)
Other assets (469) 408
Increase (decrease) in:    
Unpaid losses and loss adjustment expenses 5,472 8,584
Unearned premiums 2,523 8,812
Reinsurance premiums payable (1,966) 750
Accounts payable and other liabilities 137 (869)
Net cash provided by (used in) operating activities (14,091) (1,988)
Cash Flows From Investing Activities    
Purchase of investments (234,620) (149,486)
Proceeds from maturities and redemptions of investments 17,638 17,859
Proceeds from sales of investments 237,062 135,591
Proceeds from sale of agency business 0 1,000
Dividends from Affiliate 0 900
Other purchases 0 (531)
Purchases of property and equipment 0 (20)
Net cash provided by (used in) investing activities 20,080 5,313
Cash Flows From Financing Activities    
Proceeds from issuance of common stock 5,000 0
Repurchase of common stock 11 (11)
Borrowings under line of credit 5,000 3,000
Borrowings under Federal Home Loan Bank of Indianapolis 14,500 0
Repayment of borrowings under debt arrangements (5,000) (7,000)
Net cash provided by (used in) financing activities 19,511 (4,011)
Net increase (decrease) in cash 25,500 (686)
Cash at beginning of period 9,913 8,193
Cash at end of period 35,413 7,507
Supplemental Disclosure of Cash Flow Information:    
Interest paid 2,196 2,183
Income taxes paid (refunded), net (12) 140
Note receivable from sale of agency business 0 9,000
Payable from purchase of agency $ 0 $ 520