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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES        
Premiums earned (affiliated $144,540, $137,395, $425,513 and $399,541) $ 145,788 $ 138,316 $ 429,124 $ 405,348
Net investment income 11,299 11,503 33,946 34,434
Net realized investment gains, excluding impairment losses on securities available-for-sale 8,126 171 12,848 4,092
Total other-than-temporary impairment losses on securities available-for-sale (628) (561) (1,293) (877)
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 (628) (561) (1,293) (877)
Net realized investment gains (losses) 7,498 (390) 11,555 3,215
Other income (affiliated $420, $727, $1,119 and $1,088) 519 1,230 1,622 1,626
Total revenues 165,104 150,659 476,247 444,623
LOSSES AND EXPENSES        
Losses and settlement expenses (affiliated $101,323, $106,090, $278,915 and $298,444) 102,685 106,652 280,603 301,467
Dividends to policyholders (all affiliated) 3,555 2,588 6,492 6,517
Amortization of deferred policy acquisition costs (affiliated $25,835, $24,761, $77,872 and $73,365) 26,139 24,957 78,823 74,690
Other underwriting expenses (affiliated $16,046, $13,907, $50,297 and $43,229) 16,045 13,907 50,351 42,941
Interest expense (all affiliated) 84 84 253 253
Other expenses (affiliated $473, $373, $1,363 and $1,082) 675 588 1,992 1,713
Total losses and expenses 149,183 148,776 418,514 427,581
Income before income tax expense (benefit) 15,921 1,883 57,733 17,042
INCOME TAX EXPENSE (BENEFIT)        
Current 3,081 (1,452) 15,594 2,848
Deferred 1,651 1,106 1,872 356
Total income tax expense (benefit) 4,732 (346) 17,466 3,204
Net income $ 11,189 $ 2,229 $ 40,267 $ 13,838
Net income per common share - basic and diluted $ 0.54 $ 0.11 $ 1.96 $ 0.69
Dividend per common share $ 0.170 $ 0.153 $ 0.503 $ 0.460
Average number of common shares outstanding - basic and diluted (in shares) 20,684,890 20,267,538 20,577,493 20,165,697