SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT (PARENT COMPANY ONLY)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule I - Condensed Financial Information of Registrant (Parent Company Only)

SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY)

CONDENSED BALANCE SHEETS

December 31, 2016 and 2015

(In thousands)

	2016			2015
Assets
Cash and cash equivalents	$	11,257		$	11,429
Investments in subsidiaries	414,852			419,285
Debt and equity securities	612			540
Other assets (intercompany receivable of $16,518 in 2016 and $19,974 in 2015)	17,729			20,648
Total assets	$	444,450		$	451,902
Liabilities and shareholders’ equity
Accounts payable, accrued expenses and other liabilities (intercompany payable of $104,361 in 2016 and $102,697 in 2015)	$	115,529		$	104,077
Common stock, $.001 par value; authorized 100,000 shares, 23,125 issued and 23,070 outstanding at December 31, 2016, and 23,116 issued and 23,038 outstanding at December 31, 2015	23			23
Additional paid-in capital	495,468			494,207
Accumulated deficit	(173,231		)	(151,366		)
Accumulated other comprehensive income	6,661			4,961
Total shareholders’ equity	328,921			347,825
Total liabilities and shareholders’ equity	$	444,450		$	451,902

This statement should be read in conjunction with the notes to the consolidated financial statements included in the Company’s Form 10-K.

SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF OPERATIONS

For the years ended December 31, 2016, 2015 and 2014

(In thousands, except per share data)

	2016			2015			2014
Revenues:
Investment income (intercompany interest and dividends of zero in 2016, $142 in 2015, and $75,589 in 2014)	$	691		$	948		$	77,124
Expenses:
Expenses (intercompany interest of $2,569 in 2016, $2,468 in 2015, and $7,389 in 2014)	23,466			12,735			20,551
Income (loss) from continuing operations before income taxes	(22,775		)	(11,787		)	56,573
Equity in income (loss) of subsidiaries	910			(70,071		)	(108,998		)
Net loss	$	(21,865	)	$	(81,858	)	$	(52,425	)

This statement should be read in conjunction with the notes to the consolidated financial statements included in the Company’s Form 10-K.

SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF CASH FLOWS

For the years ended December 31, 2016, 2015 and 2014

(In thousands)

	2016			2015			2014
Operating activities:
Cash used in operating activities	$	(13,372	)	$	(5,997	)	$	(3,439	)
Investing activities:
Proceeds from the sale of debt and equity securities	135			10,153			6,027
Purchases of debt and equity securities							(264		)
Purchases of and advances to subsidiaries				(18,563		)	(8,376		)
Cash received from the repayment of loans and advances to subsidiaries				12,496			8,909
Dividends and other distributions received from subsidiaries	9,565						12,088
Purchases of property, plant and equipment				(8		)	(39		)
Net cash provided by investing activities	9,700			4,078			18,345
Financing activities:
Loans from subsidiaries	3,500
Payment of withholding taxes on exercise of RSU				(126		)	(4,118		)
Cash provided by (used in) financing activities	3,500			(126		)	(4,118		)
Net increase (decrease) in cash and cash equivalents	(172		)	(2,045		)	10,788
Cash and cash equivalents, beginning of year	11,429			13,474			2,686
Cash and cash equivalents, end of year	$	11,257		$	11,429		$	13,474
Supplemental disclosure of cash flow information:
Cash during the year for:
Refund of federal and state income taxes	$	226		$	3		$	4,127
Non-cash investing and financing activities:
Issuance of common stock for vested restricted stock units	$	85		$	559		$	7,464
Dividend received from subsidiaries							$	62,600

This statement should be read in conjunction with the notes to the consolidated financial statements included in the Company’s Form 10-K.