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Condensed Consolidated Statements of Earnings and Comprehensive Earnings (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Net premiums earned $ 12,532,967 $ 13,679,746 $ 36,921,702 $ 39,219,882
Net investment income 900,950 811,462 2,644,900 2,406,965
Net realized investment (losses) gains (59,333) 141,481 (402,320) 741,123
Equity Securities, FV-NI, Unrealized Gain (Loss), Total 981,779 (7,603) 2,195 1,716,124
Other income (loss) (36,333) (112,763) 82,934 (43,838)
Consolidated revenues 14,320,030 14,512,323 39,249,411 44,040,256
Losses and settlement expenses 8,863,053 9,609,347 25,913,619 28,117,369
Policy acquisition costs and other operating expenses 4,722,485 4,733,206 13,741,725 14,541,986
Interest expense on debt 58,724 32,458 150,773 96,353
General corporate expenses 171,860 164,378 471,616 444,829
Total expenses 13,816,122 14,539,389 40,277,733 43,200,537
Earnings (loss) before income taxes 503,908 (27,066) (1,028,322) 839,719
Total income tax expense (benefit) 99,919 (13,150) (240,980) 122,796
Net earnings (loss) 403,989 (13,916) (787,342) 716,923
Other comprehensive earnings, net of tax 440,838 703,220 2,254,721 3,423,233
Comprehensive earnings $ 844,827 $ 689,304 $ 1,467,379 $ 4,140,156
Basic:        
Basic net earnings (loss) per share (in dollars per share) $ 0.13 $ 0 $ (0.26) $ 0.24
Diluted:        
Diluted net earnings (loss) per share (in dollars per share) $ 0.13 $ 0 $ (0.26) $ 0.24
Weighted average number of common shares outstanding:        
Basic (in shares) 3,030,571 3,011,034 3,023,794 3,004,887
Diluted (in shares) 3,039,658 3,015,038 3,032,881 3,008,891
Net premiums earned $ 12,532,967 $ 13,679,746 $ 36,921,702 $ 39,219,882
Net investment income 900,950 811,462 2,644,900 2,406,965
Net realized investment (losses) gains (59,333) 141,481 (402,320) 741,123
Equity Securities, FV-NI, Unrealized Gain (Loss), Total 981,779 (7,603) 2,195 1,716,124
Other income (loss) (36,333) (112,763) 82,934 (43,838)
Consolidated revenues 14,320,030 14,512,323 39,249,411 44,040,256
Losses and settlement expenses 8,863,053 9,609,347 25,913,619 28,117,369
Policy acquisition costs and other operating expenses 4,722,485 4,733,206 13,741,725 14,541,986
Interest expense on debt 58,724 32,458 150,773 96,353
General corporate expenses 171,860 164,378 471,616 444,829
Total expenses 13,816,122 14,539,389 40,277,733 43,200,537
Earnings (loss) before income taxes 503,908 (27,066) (1,028,322) 839,719
Total income tax expense (benefit) 99,919 (13,150) (240,980) 122,796
Net earnings (loss) 403,989 (13,916) (787,342) 716,923
Other comprehensive earnings, net of tax 440,838 703,220 2,254,721 3,423,233
Comprehensive earnings $ 844,827 $ 689,304 $ 1,467,379 $ 4,140,156