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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue:        
Insurance premiums, net $ 46,060 $ 47,065 $ 92,160 $ 94,146
Net investment income 2,559 2,529 5,100 4,869
Realized investment gains (losses), net 70 (62) 70 (72)
Unrealized gains (losses) on equity securities, net 494 (4,866) (1,881) (2,673)
Other income 5 3 8 7
Total revenue 49,188 44,669 95,457 96,277
Benefits and expenses:        
Insurance benefits and losses incurred 29,365 32,753 59,825 63,922
Commissions and underwriting expenses 12,848 10,215 25,766 23,051
Interest expense 807 414 1,557 768
Other expense 3,951 3,402 7,910 6,855
Total benefits and expenses 46,971 46,784 95,058 94,596
Income (loss) before income taxes 2,217 (2,115) 399 1,681
Income tax expense (benefit) 473 (436) 101 518
Net income (loss) 1,744 (1,679) 298 1,163
Preferred stock dividends (100) (100) (199) (199)
Net income (loss) applicable to common shareholders $ 1,644 $ (1,779) $ 99 $ 964
Earnings (loss) per common share (basic) (in dollars per share) $ 0.08 $ (0.09) $ 0 $ 0.05
Earnings (loss) per common share (diluted) (in dollars per share) $ 0.08 $ (0.09) $ 0 $ 0.05