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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Insurance premiums, net $ 43,746 $ 46,380 $ 135,906 $ 140,526
Net investment income 2,325 2,641 7,425 7,510
Realized investment gains, net 0 101 70 29
Unrealized losses on equity securities, net (1,486) (2,783) (3,367) (5,456)
Other income 6 4 14 11
Total revenue 44,591 46,343 140,048 142,620
Benefits and expenses:        
Insurance benefits and losses incurred 26,818 30,630 86,643 94,552
Commissions and underwriting expenses 11,064 12,843 36,830 35,894
Interest expense 850 523 2,407 1,291
Other expense 3,721 3,296 11,631 10,151
Total benefits and expenses 42,453 47,292 137,511 141,888
Income (loss) before income taxes 2,138 (949) 2,537 732
Income tax expense (benefit) 379 (265) 480 253
Net income (loss) 1,759 (684) 2,057 479
Preferred stock dividends (100) (100) (299) (299)
Net income (loss) applicable to common shareholders $ 1,659 $ (784) $ 1,758 $ 180
Earnings (loss) per common share (basic) (in dollars per share) $ 0.08 $ (0.04) $ 0.09 $ 0.01
Earnings (loss) per common share (diluted) (in dollars per share) $ 0.08 $ (0.04) $ 0.09 $ 0.01