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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Investments:    
Debt securities, available-for-sale, at fair value (amortized cost; $597,170 in 2020 and $569,498 in 2019) $ 589,383 $ 574,279
Equity securities (cost; $19,783 in 2020 and $71,895 in 2019) 14,139 99,215
Other investments (cost; $3,763 in 2020 and $3,763 in 2019) 168 2,169
Total investments 603,690 675,663
Cash and cash equivalents 67,165 53,336
Restricted cash 1,732 1,612
Ceded unearned premiums 151,296 164,221
Premiums receivable 140,220 148,288
Accounts receivable 3,812 4,286
Receivable for securities 16,282 12,581
Reinsurance recoverable 364,470 315,466
Deferred policy acquisition costs 25,587 22,994
Goodwill   44,695
Intangible assets, net 3,173 5,087
Federal income tax recoverable 9,467 8,995
Deferred federal income taxes, net 9,577 2,185
Prepaid expenses 5,373 2,603
Other assets 31,326 33,262
Total assets 1,433,170 1,495,274
Liabilities:    
Senior unsecured notes due 2029 (less unamortized debt issuance cost of $917 in 2020 and $942 in 2019) 49,083 49,058
Subordinated debt securities (less unamortized debt issuance cost of $834 in 2020 and $846 in 2019) 55,868 55,856
Reserves for unpaid losses and loss adjustment expenses 653,490 620,355
Unearned premiums 378,573 388,926
Reinsurance balances payable 57,953 59,274
Pension liability 1,305 1,388
Payable for securities 104 1,648
Accounts payable and other accrued expenses 48,348 55,487
Total liabilities 1,244,724 1,231,992
Commitments and contingencies (Note 18)
Stockholders’ equity:    
Common stock, $.18 par value, authorized 33,333,333 shares; issued 20,872,831 shares in 2020 and 2019 3,757 3,757
Additional paid-in capital 122,718 123,468
Retained earnings 96,260 160,570
Accumulated other comprehensive (loss) income (9,257) 688
Treasury stock (2,731,335 shares in 2020 and 2,749,738 in 2019), at cost (25,032) (25,201)
Total stockholders’ equity 188,446 263,282
Total liabilities and stockholders’ equity $ 1,433,170 $ 1,495,274