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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 2,057 $ 479
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization of (additions to) acquisition costs, net 355 (2,718)
Realized investment gains, net (70) (29)
Unrealized losses on equity securities, net 3,367 5,456
Losses (earnings) from equity method investees 343 (275)
Compensation expense related to share awards 116 92
Depreciation and amortization 521 683
Deferred income tax benefit (1,711) (1,394)
Increase in receivables, net (5,227) (4,783)
(Decrease) increase in insurance reserves and policyholder funds (663) 2,492
Decrease in accounts payable and accrued expenses (2,644) (2,350)
Other, net 13 101
Net cash used in operating activities (3,543) (2,246)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from investments sold 5,038 3,871
Proceeds from investments matured, called or redeemed 8,000 8,997
Investments purchased (14,942) (13,871)
Additions to property and equipment (75) (112)
Net cash used in investing activities (1,979) (1,115)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of dividends on common stock (408) (408)
Treasury stock acquired - net employee share-based compensation (12) (108)
Proceeds from revolving credit facility, net 1,000 1,000
Net cash provided by financing activities 580 484
Net decrease in cash and cash equivalents (4,942) (2,877)
Cash and cash equivalents at beginning of period 28,863 24,753
Cash and cash equivalents at end of period 23,921 21,876
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 2,370 1,200
Cash paid for income taxes $ 2,026 $ 2,164