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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues        
Net premiums earned $ 6,429,373 $ 4,676,282 $ 12,355,684 $ 9,299,497
Ceding commission revenue 3,706,049 2,334,431 7,087,332 4,628,142
Net investment income 451,915 275,031 830,703 558,318
Net realized gains on sales of investments 134,602 249,893 322,950 355,018
Other income 250,908 243,825 478,465 457,815
Total revenues 10,972,847 7,779,462 21,075,134 15,298,790
Expenses        
Loss and loss adjustment expenses 3,007,939 3,241,797 7,332,893 5,711,438
Commission expense 2,903,792 2,079,084 5,486,300 4,194,904
Other underwriting expenses 2,529,075 1,931,611 4,810,824 4,144,956
Other operating expenses 338,379 227,833 588,414 471,143
Depreciation and amortization 209,935 153,985 393,055 306,971
Interest expense 0 17,890 0 39,105
Total expenses 8,989,120 7,652,200 18,611,486 14,868,517
Income from operations before taxes 1,983,727 127,262 2,463,648 430,273
Income tax expense 629,225 59,161 782,013 171,164
Net income 1,354,502 68,101 1,681,635 259,109
Gross change in unrealized gains (losses) on available-for-sale-securities 736,319 (1,260,607) 1,416,715 (814,864)
Income tax (expense) benefit related to items of other comprehensive income (loss) (250,348) 428,607 (481,683) 277,054
Comprehensive income (loss) $ 1,840,473 $ (763,899) $ 2,616,667 $ (278,701)
Earnings per common share:        
Basic $ 0.19 $ 0.02 $ 0.23 $ 0.07
Diluted $ 0.18 $ 0.02 $ 0.23 $ 0.07
Weighted average common shares outstanding        
Basic 7,287,935 3,827,712 7,277,313 3,834,269
Diluted 7,358,280 3,906,432 7,352,609 3,911,650
Dividends declared and paid per common share $ 0.04 $ 0.04 $ 0.08 $ 0.08