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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
REVENUES        
Premiums earned (affiliated $124,619,189 and $108,193,102; $243,736,274 and $216,937,082) $ 127,188,280 $ 110,270,460 $ 247,685,532 $ 220,030,216
Investment income, net 11,039,994 11,148,695 21,483,077 22,305,477
Net realized investment gains (losses), excluding impairment losses on securities available-for-sale 175,253 (1,012,288) 2,863,734 7,906,041
Total other-than-temporary impairment losses on securities available-for-sale 0 (126,048) (20,608) (126,048)
Portion of other-than-temporary impairment losses on fixed maturity securities available-for-sale reclassified from other comprehensive income (before taxes) 0 0 0 0
Net impairment losses on securities available-for-sale 0 (126,048) (20,608) (126,048)
Net realized investment gains (losses) 175,253 (1,138,336) 2,843,126 7,779,993
Other income (all affiliated) 163,417 222,751 397,922 461,749
Total revenues 138,566,944 120,503,570 272,409,657 250,577,435
LOSSES AND EXPENSES        
Losses and settlement expenses (affiliated $85,491,918 and $86,077,833; $157,970,436 and $151,094,444) 88,968,680 88,399,951 161,542,338 153,640,240
Dividends to policyholders (all affiliated) 2,333,300 2,260,231 4,527,032 3,911,756
Amortization of deferred policy acquisition costs (affiliated $22,900,486 and $20,069,042; $44,850,269 and $39,027,903) 23,564,414 20,631,011 45,831,852 39,845,389
Other underwriting expenses (affiliated $15,034,156 and $14,414,233; $31,055,062 and $29,672,102) 15,055,667 14,330,439 31,076,573 29,588,308
Interest expense (all affiliated) 84,375 225,000 215,625 450,000
Other expense (affiliated $334,051 and $530,182; $421,123 and $1,002,215) 611,853 168,742 758,618 755,259
Total losses and expenses 130,618,289 126,015,374 243,952,038 228,190,952
Income (loss) before income tax expense (benefit) 7,948,655 (5,511,804) 28,457,619 22,386,483
INCOME TAX EXPENSE (BENEFIT)        
Current 2,602,291 (1,917,316) 8,098,214 5,697,486
Deferred (865,872) (1,018,017) (125,348) 41,733
Total income tax expense (benefit) 1,736,419 (2,935,333) 7,972,866 5,739,219
Net income (loss) $ 6,212,236 $ (2,576,471) $ 20,484,753 $ 16,647,264
Net income (loss) per common share - basic and diluted $ 0.48 $ (0.20) $ 1.58 $ 1.29
Dividend per common share $ 0.21 $ 0.2 $ 0.42 $ 0.40
Average number of common shares outstanding - basic and diluted 13,055,443 12,883,333 13,000,865 12,881,177