Note 17 - Segment Information

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

17. Segment Information

The Company has two reportable segments, title insurance services and real estate. The remaining immaterial segments have been combined into a group called “Corporate and Other.” The title insurance segment issues title insurance policies, which insures titles to real estate, and provides title agency services for residential and commercial real estate transactions. The real estate segment, through an affiliate investment in HC Realty, owns and operates a portfolio of single-tenant properties leased entirely to the United States of America for occupancy by federal agencies.

Provided below is selected financial information about the Company’s operations by segment for the year ended December 31, 2021 (in thousands):

	Title Insurance (a)			Real Estate Related		Corporate and Other			Total
Insurance and other services revenue	$	2,435		$	-	$	-		$	2.435
Cost of revenues		(326	)		-		-			(326	)
Gross profit	$	2,109		$	-	$	-		$	2,109
Operating expenses		(2,047	)		-		(1,262	)		(3,309	)
Other income and expenses		3,976			567		(685	)		3,858
Income (loss) before income taxes	$	4,038		$	567	$	(1,947	)	$	2,658
Assets	$	21,230		$	11,450	$	6,185		$	38,865
Goodwill	$	4,451		$	-	$	-		$	4,451

(a) Represents operations of the title insurance subsidiaries subsequent to the Acquisition on July 1, 2021 and the Second Acquisition on September 1, 2021.

Provided below is selected financial information about the Company’s operations by segment year ended December 31, 2020 (in thousands):

	Title Insurance		Real Estate Related		Corporate and Other			Total
Insurance and other services revenue	$	-	$	-	$	-		$	-
Cost of revenues		-		-		-			-
Gross profit	$	-	$	-	$	-		$	-
Operating expenses		-		-		(1,304	)		(1,304	)
Other income and expenses		-		470		897			1,367
Income (loss) before income taxes	$	-	$	470	$	(407	)	$	63
Total assets	$	-	$	12,072	$	14,954		$	27,026