Stockholders' Equity Note Disclosure [Text Block]

9 Months Ended

Sep. 30, 2020

Notes

Stockholders' Equity Note Disclosure

Note 11.Stockholders’ Equity 

Treasury Stock 

In 2020, the Company repurchased 231,976 shares of its common stock for an aggregate cost of $7,053,000 and of that amount, 36,377 shares were repurchased for an aggregate cost of $982,000 pursuant to the terms of a tender offer.

Accumulated Other Comprehensive Income (Loss)

Other comprehensive income (loss) includes the after-tax net unrealized gains and losses on investment securities available-for-sale, including the subsequent increases and decreases in fair value of available-for-sale securities previously impaired and the non-credit related component of other-than-temporary impairments of fixed maturities.

Changes in the balances of accumulated other comprehensive income, shown net of taxes, for the periods indicated are as follows (in thousands): 

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2020		2019		2020		2019
Beginning balance	$	2,854	$	2,298	$	1,212	$	(8,310)
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassifications		873		1,995		3,417		13,072
Amounts reclassified from accumulated OCI		191		(706)		(711)		(1,175)
Net other comprehensive income		1,064		1,289		2,706		11,897
Ending balance	$	3,918	$	3,587	$	3,918	$	3,587

Presented below are the amounts reclassified out of accumulated other comprehensive income (loss) and recognized in earnings for each of the periods indicated (in thousands):

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2020		2019		2020		2019
Unrealized gains (losses) on available-for-sale securities
reclassified during the period to the following income
statement line items:
Net investment gains (losses)	$	(241)	$	895	$	901	$	2,144
Net impairment losses recognized in earnings		-		-		-		(646)
Income (loss) before income tax		(241)		895		901		1,498
Income tax expense (benefit)		(50)		189		190		323
Net income (loss)	$	(191)	$	706	$	711	$	1,175