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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 8,501 $ 10,998
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 (710) (415)
Net deferred policy acquisition cost (10,563) (5,414)
Amortization of cost of insurance acquired 324 314
Depreciation 291 248
Amortization of premiums and discounts on investments 2,516 2,468
Stock-based compensation 640 146
Deferred federal income tax expense (benefit) (944) 924
Change in:    
Accrued investment income (229) 77
Reinsurance recoverable (1,226) 515
Due premiums 318 2,585
Future policy benefit reserves (36) (1,397)
Other policyholders' liabilities 12,942 5,848
Federal income tax receivable 543 (961)
Commissions payable and other liabilities 1,147 (3,383)
Other, net (2,138) (355)
Net cash provided by operating activities 11,376 12,198
Cash flows from investing activities:    
Purchases of fixed maturity securities, available-for-sale (35,650) (27,637)
Sales of fixed maturity securities, available-for-sale 4,659 4,244
Maturities and calls of fixed maturity securities, available-for-sale 27,197 17,104
Principal payments on mortgage loans 5 4
(Increase) decrease in policy loans, net 1,897 829
Sales of other long-term investments 130 2,538
Purchases of other long-term investments (8,250) (9,409)
Purchase of property and equipment (189) (84)
Maturity of short-term investments 0 500
Net cash used in investing activities (10,201) (11,911)
Cash flows from financing activities:    
Annuity deposits 3,222 3,813
Annuity withdrawals (5,017) (5,390)
Acquisition of treasury stock 0 (719)
Other (33) (50)
Net cash used in financing activities (1,828) (2,346)
Net decrease in cash and cash equivalents (653) (2,059)
Cash and cash equivalents at beginning of year 26,997 22,973
Cash and cash equivalents at end of period $ 26,344 $ 20,914