Stockholders' Equity Note Disclosure [Text Block]

12 Months Ended

Dec. 31, 2020

Notes

Stockholders' Equity Note Disclosure

Note 14.Stockholders’ Equity 

Treasury Stock

IHC maintains a program of repurchasing shares of its common stock when the Company deems feasible. In August 2016, the Board of Directors increased the number of shares that can be repurchased to 3,000,000 shares of IHC common stock. At December 31, 2020, there were 1,538,991 shares still authorized to be repurchased under the plan authorized by the Board of Directors.

In 2020, the Company repurchased 244,487 shares of its common stock for an aggregate cost of $7,534,000 and of that amount, 36,377 shares were repurchased pursuant to the terms of a tender offer for an aggregate cost of $982,000. In 2019, the Company repurchased 108,646 shares of its common stock for an aggregate cost of $4,051,000.

The Company issued 22,593 and 95,339 shares from treasury stock in 2020 and 2019, respectively, as a result of option exercises and the vesting of restricted stock units during the period.

Accumulated Other Comprehensive Income (Loss)

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

Changes in the balances for each component of accumulated other comprehensive income (loss), shown net of taxes, for the years indicated were as follows (in thousands):

		2020		2019
Beginning balance	$	1,212	$	(8,310)
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassifications		3,572		12,246
Less amounts reclassified from accumulated OCI		(587)		(2,724)
Net other comprehensive income (loss)		2,985		9,522
Ending balance	$	4,197	$	1,212

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

		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)	$	742	$	4,105
Net impairment losses recognized in earnings		-		(646)
Income (loss) before income tax		742		3,459
Tax effect		155		735
Net income (loss)	$	587	$	2,724