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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 11,291 $ 13,696
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 (1,537) 477
Net deferred policy acquisition cost (16,500) (8,490)
Amortization of cost of insurance acquired 477 465
Depreciation 443 380
Amortization of premiums and discounts on investments 3,738 3,761
Stock-based compensation 1,052 333
Deferred federal income tax expense (benefit) (1,350) 652
Change in:    
Accrued investment income 278 8
Reinsurance recoverable (3,287) 778
Due premiums 1,174 2,168
Future policy benefit reserves 1,842 (5,111)
Other policyholders' liabilities 19,002 8,156
Federal income tax receivable 1,041 1,253
Commissions payable and other liabilities 6,397 (3,116)
Other, net (2,969) 34
Net cash provided by operating activities 21,092 15,444
Cash flows from investing activities:    
Purchases of fixed maturity securities, available-for-sale (49,345) (50,077)
Sales of fixed maturity securities, available-for-sale 4,659 13,690
Maturities and calls of fixed maturity securities, available-for-sale 37,907 23,128
Sales of equity securities 0 770
Principal payments on mortgage loans 7 6
(Increase) decrease in policy loans, net 2,896 3,023
Sales of other long-term investments 2,226 3,793
Purchases of other long-term investments (11,123) (13,262)
Purchase of property and equipment (561) (292)
Maturity of short-term investments 0 750
Net cash used in investing activities (13,334) (18,471)
Cash flows from financing activities:    
Annuity deposits 5,181 5,443
Annuity withdrawals (7,183) (7,828)
Acquisition of treasury stock 0 (719)
Other (371) (57)
Net cash used in financing activities (2,373) (3,161)
Net increase (decrease) in cash and cash equivalents 5,385 (6,188)
Cash and cash equivalents at beginning of year 26,997 22,973
Cash and cash equivalents at end of period $ 32,382 $ 16,785