XML 32 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
Unaudited Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Net premiums earned $ 65,449 $ 62,905 $ 131,895 $ 126,747
Net investment income 2,898 2,090 5,713 4,383
Commissions and other income 1,501 1,732 2,798 3,087
Net realized gains (losses) on investments, excluding impairment losses (273) 8,089 3,684 12,264
Total other-than-temporary impairment losses on investments (893) 0 (1,107) (105)
Net realized gains (losses) on investments (1,166) 8,089 2,577 12,159
Total revenue 68,682 74,816 142,983 146,376
Expenses        
Losses and loss expenses incurred 37,031 40,282 78,678 79,571
Other operating expenses 23,221 20,497 46,584 43,329
Total expenses 60,252 60,779 125,262 122,900
Income before federal income taxes 8,430 14,037 17,721 23,476
Federal income taxes 2,712 4,697 5,760 7,775
Net income $ 5,718 $ 9,340 $ 11,961 $ 15,701
Per share data:        
Basic and diluted earnings (in dollars per share) $ 0.38 $ 0.62 $ 0.79 $ 1.05
Dividends paid to shareholders (in dollars per share) $ 0.25 $ 0.25 $ 0.50 $ 0.50
Reconciliation of shares outstanding:        
Average shares outstanding - basic (in shares) 15,017 14,967 15,005 14,957
Dilutive effect of share equivalents (in shares) 8 4 20 14
Average shares outstanding - diluted (in shares) 15,025 14,971 15,025 14,971