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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ (4,881) $ 1,449
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Investment related (gains) losses on sale of investments and other assets 5,598 (5,151)
Net deferred policy acquisition cost 822 1,485
Amortization of cost of customer relationships acquired 499 676
Depreciation 288 761
Amortization of premiums and discounts on investments 2,658 2,715
Stock-based compensation 150 306
Deferred federal income tax expense (benefit) 238 (141)
Change in:    
Accrued investment income (300) (164)
Reinsurance recoverable 2,113 931
Due premiums 1,210 1,973
Future policy benefit reserves 15,861 11,432
Other policyholders' liabilities (571) 6,891
Federal income tax receivable (255) 1,555
Commissions payable and other liabilities 246 (14,494)
Other, net (1,329) (1,246)
Net cash provided by operating activities 22,347 8,978
Cash flows from investing activities:    
Purchase of fixed maturities, available-for-sale (64,689) (48,106)
Sale of fixed maturities, available-for-sale 28,828 7,254
Maturities and calls of fixed maturities, available-for-sale 18,234 29,574
Principal payments on mortgage loans 95 5
Increase in policy loans, net 1,721 2,697
Sale of other long-term investments and real estate 2,699 17,341
Purchases of other long-term investments (14,746) (12,203)
Purchase of property and equipment (51) (773)
Purchase of short-term investments (5) 0
Net cash used in investing activities (27,914) (4,211)
Cash flows from financing activities:    
Annuity deposits 4,160 4,793
Annuity withdrawals (4,319) (4,113)
Purchase of treasury stock (1,300) (9,090)
Issuance of common stock 2,244 0
Other (105) (363)
Net cash provided by financing activities 680 (8,773)
Net increase (decrease) in cash and cash equivalents (4,887) (4,006)
Cash and cash equivalents at beginning of year 27,294 34,131
Cash and cash equivalents at end of period $ 22,407 $ 30,125