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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
REVENUES        
Premiums earned (affiliated $137,395, $130,873, $399,541, and $374,609) $ 138,316 $ 132,362 $ 405,348 $ 380,048
Investment income, net 11,503 10,545 34,434 32,028
Net realized investment gains, excluding impairment losses on securities available-for-sale 171 1,010 4,092 3,874
Total other-than-temporary impairment losses on securities available-for-sale (561) (3) (877) (24)
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 (561) (3) (877) (24)
Net realized investment gains (losses) (390) 1,007 3,215 3,850
Other income (all affiliated) 202 195 584 593
Total revenues 149,631 144,109 443,581 416,519
LOSSES AND EXPENSES        
Losses and settlement expenses (affiliated $106,090, $86,786, $298,444 and $244,756) 106,652 88,235 301,467 249,777
Dividends to policyholders (all affiliated) 2,588 4,220 6,517 8,747
Amortization of deferred policy acquisition costs (affiliated $24,761, $23,327, $73,365 and $68,177) 24,957 23,671 74,690 69,503
Other underwriting expenses (affiliated $13,907, $17,332, $43,229 and $48,387) 13,907 17,332 42,941 48,408
Interest expense (all affiliated) 84 84 253 300
Other expense (affiliated $(152), $544, $578 and $965) (440) 1,003 671 1,762
Total losses and expenses 147,748 134,545 426,539 378,497
Income before income tax expense (benefit) 1,883 9,564 17,042 38,022
INCOME TAX EXPENSE (BENEFIT)        
Current (1,452) 3,875 2,848 11,973
Deferred 1,106 (1,510) 356 (1,635)
Total income tax expense (benefit) (346) 2,365 3,204 10,338
Net income $ 2,229 $ 7,199 $ 13,838 $ 27,684
Net income per common share - basic and diluted $ 0.16 $ 0.55 $ 1.03 $ 2.12
Dividend per common share $ 0.23 $ 0.21 $ 0.69 $ 0.63
Average number of common shares outstanding - basic and diluted (in shares) 13,511,692 13,131,323 13,443,798 13,044,351