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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES        
Premiums earned (affiliated $149,988, $144,540, $436,804 and $425,513) $ 152,181 $ 145,788 $ 441,364 $ 429,124
Net investment income 11,474 11,299 35,883 33,946
Net realized investment gains (losses), excluding impairment losses on securities available-for-sale (917) 8,126 333 12,848
Total other-than-temporary impairment losses on securities available-for-sale (275) (628) (976) (1,293)
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 (275) (628) (976) (1,293)
Net realized investment gains (losses) (1,192) 7,498 (643) 11,555
Other income (loss) (affiliated $39, $420, $307 and $1,119) (85) 519 (19) 1,622
Total revenues 162,378 165,104 476,585 476,247
LOSSES AND EXPENSES        
Losses and settlement expenses (affiliated $106,795, $101,323, $295,061 and $278,915) 108,173 102,685 296,102 280,603
Dividends to policyholders (all affiliated) 3,944 3,555 11,292 6,492
Amortization of deferred policy acquisition costs (affiliated $26,256, $25,835, $79,584 and $77,872) 26,845 26,139 80,740 78,823
Other underwriting expenses (affiliated $17,600, $16,046, $52,120 and $50,297) 17,606 16,045 52,134 50,351
Interest expense (all affiliated) 84 84 253 253
Other expenses (affiliated $481, $473, $1,414 and $1,363) 679 675 2,053 1,992
Total losses and expenses 157,331 149,183 442,574 418,514
Income before income tax expense 5,047 15,921 34,011 57,733
INCOME TAX EXPENSE (BENEFIT)        
Current 1,448 3,081 11,440 15,594
Deferred (530) 1,651 (2,340) 1,872
Total income tax expense 918 4,732 9,100 17,466
Net income $ 4,129 $ 11,189 $ 24,911 $ 40,267
Net income per common share - basic and diluted $ 0.20 $ 0.54 $ 1.19 $ 1.96
Dividend per common share $ 0.190 $ 0.170 $ 0.570 $ 0.503
Average number of common shares outstanding - basic and diluted (in shares) 21,060,665 20,684,890 20,964,236 20,577,493