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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
REVENUES        
Premiums earned (affiliated $143,554, $130,214, $280,973 and $262,146) $ 144,605 $ 133,952 $ 283,336 $ 267,032
Net investment income 11,441 11,076 22,647 22,931
Net realized investment gains, excluding impairment losses on securities available-for-sale 3,321 2,343 4,722 3,921
Total other-than-temporary impairment losses on securities available-for-sale (47) 0 (665) (316)
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 (47) 0 (665) (316)
Net realized investment gains 3,274 2,343 4,057 3,605
Other income (loss) (affiliated $42, $232, $699 and $361) (512) 362 1,103 396
Total revenues 158,808 147,733 311,143 293,964
LOSSES AND EXPENSES        
Losses and settlement expenses (affiliated $102,320, $103,663, $177,592 and $192,354) 102,133 105,846 177,918 194,815
Dividends to policyholders (all affiliated) 37 2,213 2,937 3,929
Amortization of deferred policy acquisition costs (affiliated $26,825, $24,175, $52,037 and $48,604) 27,243 25,118 52,684 49,733
Other underwriting expenses (affiliated $16,730, $13,892, $34,251 and $29,322) 16,785 13,604 34,306 29,034
Interest expense (all affiliated) 85 85 169 169
Other expenses (affiliated $449, $385, $890 and $709) 650 597 1,317 1,125
Total losses and expenses 146,933 147,463 269,331 278,805
Income before income tax expense (benefit) 11,875 270 41,812 15,159
INCOME TAX EXPENSE (BENEFIT)        
Current 3,308 198 12,513 4,300
Deferred (181) (942) 221 (750)
Total income tax expense (benefit) 3,127 (744) 12,734 3,550
Net income $ 8,748 $ 1,014 $ 29,078 $ 11,609
Net income per common share - basic and diluted $ 0.42 $ 0.05 $ 1.42 $ 0.58
Dividend per common share $ 0.167 $ 0.153 $ 0.333 $ 0.307
Average number of common shares outstanding - basic and diluted (in shares) 20,611,286 20,206,458 20,523,794 20,114,777