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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUES        
Premiums earned (affiliated $154,451, $149,988, $446,522 and $436,804) $ 155,190 $ 152,181 $ 449,514 $ 441,364
Net investment income 11,501 11,474 33,679 35,883
Net realized investment gains (losses), excluding impairment losses on securities available-for-sale (239) (917) 3,254 333
Total other-than-temporary impairment losses on securities available-for-sale (355) (275) (1,088) (976)
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 (355) (275) (1,088) (976)
Net realized investment gains (losses) (594) (1,192) 2,166 (643)
Other income (loss) (affiliated $(30), $39, $(350) and $307) (179) (85) (834) (19)
Total revenues 165,918 162,378 484,525 476,585
LOSSES AND EXPENSES        
Losses and settlement expenses (affiliated $116,908, $106,795, $318,902 and $295,061) 119,576 108,173 323,089 296,102
Dividends to policyholders (all affiliated) 46 3,944 5,184 11,292
Amortization of deferred policy acquisition costs (affiliated $26,177, $26,256, $79,957 and $79,584) 26,430 26,845 80,774 80,740
Other underwriting expenses (affiliated $19,520, $17,600, $57,803 and $52,120) 19,521 17,606 57,732 52,134
Interest expense (all affiliated) 84 84 253 253
Other expenses (affiliated $442, $481, $1,423 and $1,414) 701 679 2,264 2,053
Total losses and expenses 166,358 157,331 469,296 442,574
Income (loss) before income tax expense (benefit) (440) 5,047 15,229 34,011
INCOME TAX EXPENSE (BENEFIT)        
Current (2,197) 1,448 1,918 11,440
Deferred 1,011 (530) 257 (2,340)
Total income tax expense (benefit) (1,186) 918 2,175 9,100
Net income $ 746 $ 4,129 $ 13,054 $ 24,911
Net income per common share - basic and diluted $ 0.03 $ 0.20 $ 0.61 $ 1.19
Dividend per common share $ 0.21 $ 0.19 $ 0.63 $ 0.57
Average number of common shares outstanding - basic and diluted (in shares) 21,356,588 21,060,665 21,295,882 20,964,236