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Consolidated Statements Of Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Net premiums written $ 29,790,232 $ 30,464,581 $ 51,299,229 $ 55,426,622
Investment income – interest and dividends 1,167,005 1,131,487 2,318,016 2,309,526
Net realized (loss) gain on investments (14,828) 925,164 135,002 939,967
Other 2,885,302 2,960,575 4,937,486 5,107,501
Total Revenues 33,827,711 35,481,807 58,689,733 63,783,616
Operating Expenses:        
Commissions to agents 15,674,346 16,898,691 27,207,228 31,495,230
Provision for claims 647,912 2,130,810 663,871 2,917,422
Salaries, employee benefits and payroll taxes 7,173,198 6,866,632 14,645,149 14,144,081
Office occupancy and operations 1,535,902 1,443,297 3,029,762 2,747,518
Business development 606,258 578,194 1,086,648 1,065,169
Filing fees, franchise and local taxes 267,103 221,098 497,157 437,741
Premium and retaliatory taxes 574,249 634,747 886,080 1,111,338
Professional and contract labor fees 537,446 680,483 1,076,099 1,264,590
Other 269,250 241,358 472,231 444,906
Total Operating Expenses 27,285,664 29,695,310 49,564,225 55,627,995
Income before Income Taxes 6,542,047 5,786,497 9,125,508 8,155,621
Provision for Income Taxes 2,012,000 1,666,000 2,791,000 2,309,000
Net Income 4,530,047 4,120,497 6,334,508 5,846,621
Net (Gain) Loss Attributable to Noncontrolling Interests (667) 0 8,912 0
Net Income Attributable to the Company $ 4,529,380 $ 4,120,497 $ 6,343,420 $ 5,846,621
Basic Earnings per Common Share $ 2.36 $ 2.06 $ 3.29 $ 2.91
Weighted Average Shares Outstanding – Basic 1,923,213 2,004,698 1,928,766 2,008,718
Diluted Earnings per Common Share $ 2.35 $ 2.05 $ 3.28 $ 2.90
Weighted Average Shares Outstanding – Diluted 1,928,625 2,009,495 1,935,325 2,013,878
Cash Dividends Paid per Common Share $ 0.16 $ 0.08 $ 0.32 $ 0.16