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Unaudited Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Net premiums earned $ 65,445 $ 65,947 $ 197,340 $ 192,694
Net investment income 3,014 2,073 8,727 6,456
Commissions and other income 1,173 1,800 3,970 4,887
Net realized gains on investments, excluding impairment losses 2,310 1,099 5,994 13,363
Total other-than-temporary impairment losses on investments (4,396) (441) (5,503) (546)
Net realized gains (losses) on investments (2,086) 658 491 12,817
Total revenue 67,546 70,478 210,528 216,854
Expenses        
Losses and loss expenses incurred 35,212 38,693 113,890 118,264
Other operating expenses 20,724 23,237 67,307 66,566
Total expenses 55,936 61,930 181,197 184,830
Income before federal income taxes 11,610 8,548 29,331 32,024
Federal income taxes 3,830 2,778 9,590 10,553
Net income $ 7,780 $ 5,770 $ 19,741 $ 21,471
Per share data:        
Basic and diluted earnings (in dollars per share) $ 0.52 $ 0.39 $ 1.31 $ 1.43
Dividends paid to shareholders (in dollars per share) $ 0.25 $ 0.25 $ 0.75 $ 0.75
Reconciliation of shares outstanding:        
Average shares outstanding - basic (in shares) 15,015 14,971 15,009 14,962
Dilutive effect of share equivalents (in shares) 3 2 10 12
Average shares outstanding - diluted (in shares) 15,018 14,973 15,019 14,974