CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 12,893	$ 12,630
Investments:
Fixed maturities, available-for-sale, at fair value (amortized cost: $219,233 and $219,924)	232,472	210,386
Equity securities, at fair value (cost: $7,168 and $10,515)	22,922	20,758
Other invested assets (cost: $9,908 and $6,905)	9,960	7,424
Policy loans	2,007	2,085
Real estate	38	38
Investment in unconsolidated trusts	1,238	1,238
Total investments	268,637	241,929
Receivables:
Reinsurance	32,135	26,110
Insurance premiums and other, net of allowance for doubtful accounts of $183 and $207 as of 2019 and 2018, respectively	13,134	15,223
Deferred income taxes, net	314	4,184
Deferred acquisition costs	38,861	37,094
Other assets	9,108	4,560
Intangibles	2,544	2,544
Total assets	377,626	344,274
LIABILITIES AND SHAREHOLDERS' EQUITY
Future policy benefits	92,490	90,257
Unearned premiums	26,035	24,206
Losses and claims	81,448	72,612
Other policy liabilities	1,933	1,973
Total insurance reserves and policyholder funds	201,906	189,048
Accounts payable and accrued expenses	23,588	20,116
Junior subordinated debenture obligations, net	33,738	33,738
Total liabilities	259,232	242,902
Commitments and contingencies (Note 9)
Shareholders' equity:
Preferred stock, $1 par, 4,000,000 shares authorized; Series D preferred, 55,000 shares issued and outstanding; $5,500 redemption value	55	55
Common stock, $1 par, 50,000,000 shares authorized; 22,400,894 shares issued; 20,472,162 and 20,170,360 shares outstanding as of 2019 and 2018, respectively	22,401	22,401
Additional paid-in capital	57,820	57,414
Retained earnings	36,020	37,208
Accumulated other comprehensive income (loss)	10,459	(7,535)
Unearned stock grant compensation	(781)	(186)
Treasury stock, at cost, 1,928,732 and 2,230,534 shares as of 2019 and 2018, respectively	(7,580)	(7,985)
Total shareholders' equity	118,394	101,372
Total liabilities and shareholders' equity	$ 377,626	$ 344,274