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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities:      
Net income $ 24,901 $ 26,167 $ 22,273
Adjustments to reconcile net income to net cash provided by operating activities:      
Net investment gains (151) (176) (59)
Deferred tax expense (benefit) 1,065 561 (879)
Depreciation and amortization 515 636 642
Stock compensation expense 652 492 65
Change in operating assets and liabilities:      
Investment income due and accrued (784) (449) (447)
Premiums receivable, net (2,803) (1,434) (1,324)
Reserves for unpaid loss and loss adjustment expenses 50,916 45,172 57,418
Unearned premiums 13,766 7,631 6,460
Reinsurance balances, net 28,081 54,788 (29,501)
Funds held for reinsurers (36,497) (50,709) 23,274
Deferred policy acquisition costs (1,625) (11,846) (2,067)
Income taxes payable (922) (482) (1,393)
Accounts payable and accrued expenses (2,299) 1,342 2,506
Other 2,583 2,048 1,734
Net cash provided by operating activities 77,398 73,741 78,702
Investing Activities:      
Purchase of property and equipment (179) (565) (231)
Change in short-term investments, net 0 2,299 1,957
Securities available-for-sale:      
Purchases - fixed maturity securities (111,580) (149,572) (128,204)
Purchases - equity securities (31,608) (2,442) (372)
Sales - fixed maturity securities 12,040 13,541 14,328
Maturities and calls - fixed maturity securities 88,895 48,595 32,475
Net cash used in investing activities (42,432) (88,144) (80,047)
Financing activities:      
Common stock issued, net of transaction costs 0 72,841 0
Common stock issued, stock options exercised 1,077 0 0
Class A common stock issued 0 0 90
Proceeds from note payable 0 0 2,000
Repayment of note payable 0 (30,000) 0
Debt issuance costs 0 0 (30)
Dividends paid (5,039) (2,097) 0
Payments on capital lease (9) (133) (129)
Net cash (used in) provided by financing activities (3,971) 40,611 1,931
Net change in cash and cash equivalents 30,995 26,208 586
Cash and cash equivalents at beginning of period 50,752 24,544 23,958
Cash and cash equivalents at end of period $ 81,747 $ 50,752 $ 24,544