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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Investments:    
Debt securities, available-for-sale, at fair value (amortized cost; $344,232 in 2021 and $502,167 in 2020) $ 348,525 $ 507,279
Equity securities (cost; $46,847 in 2021 and $26,988 in 2020) 53,621 29,388
Total investments 402,146 536,667
Cash and cash equivalents 281,849 102,580
Restricted cash 5,434 5,728
Ceded unearned premiums 134,206 138,926
Premiums receivable 109,799 120,332
Accounts receivable 4,625 5,967
Receivable for securities 1,382 913
Reinsurance recoverable 494,815 490,231
Deferred policy acquisition costs 16,386 17,840
Intangible assets, net 1,196 1,322
Federal income tax recoverable 23,855 25,642
Deferred federal income taxes, net 8,319 8,724
Prepaid expenses 6,679 2,648
Other assets 26,852 28,013
Total assets 1,517,543 1,485,533
Liabilities:    
Senior unsecured notes due 2029 (less unamortized debt issuance cost of $820 in 2021 and $844 in 2020) 49,180 49,156
Subordinated debt securities (less unamortized debt issuance cost of $782 in 2021 and $795 in 2020) 55,920 55,907
Reserves for unpaid losses and loss adjustment expenses 812,272 789,768
Unearned premiums 305,015 320,806
Reinsurance payable 51,673 46,700
Pension liability 1,749 1,859
Payable for securities 10,979  
Accounts payable and other accrued expenses 51,003 50,415
Total liabilities 1,337,791 1,314,611
Commitments and contingencies (Note 18)
Stockholders' equity:    
Common stock, $.18 par value, authorized 33,333,333 shares; issued 20,872,831 shares in 2021 and 2020 3,757 3,757
Additional paid-in capital 122,725 122,893
Retained earnings 78,260 68,915
Accumulated other comprehensive (loss) income (229) 383
Treasury stock (2,701,799 shares in 2021 and 2,730,673 in 2020), at cost (24,761) (25,026)
Total stockholders' equity 179,752 170,922
Total liabilities and stockholders' equity $ 1,517,543 $ 1,485,533