Taxes	6 Months Ended
Jun. 30, 2019
Taxes [Abstract]
Taxes	(7) Taxes: The effective federal tax rate on consolidated income for the three months ended June 30, 2019 was 21.3% compared to 18.6% for the three months ended June 30, 2018. The effective federal tax rate on consolidated income for the six months ended June 30, 2019 was 21.6% compared to 16.4% for the six months ended June 30, 2018. The effective federal income tax rate differs from the normal statutory rate primarily as a result of tax-exempt investment income. For the three and six months ended June 30, 2019, the Company had lower tax-exempt income when compared to the same periods in 2018, primarily due to the reduction of tax exempt municipal securities within the Company's investment portfolio in the current year as well as a decrease in dividend income, which provides a deduction for taxes, related to the reallocation of equity securities to fixed income securities within the Company’s investment portfolio throughout 2018. As of June 30, 2019, the Company's calendar years 2017, 2016 and 2015 remain subject to examination by the Internal Revenue Service.

Taxes

6 Months Ended

Jun. 30, 2019

(7) Taxes:

The effective federal tax rate on consolidated income for the three months ended June 30, 2019 was 21.3% compared to 18.6% for the three months ended June 30, 2018. The effective federal tax rate on consolidated income for the six months ended June 30, 2019 was 21.6% compared to 16.4% for the six months ended June 30, 2018. The effective federal income tax rate differs from the normal statutory rate primarily as a result of tax-exempt investment income. For the three and six months ended June 30, 2019, the Company had lower tax-exempt income when compared to the same periods in 2018, primarily due to the reduction of tax exempt municipal securities within the Company's investment portfolio in the current year as well as a decrease in dividend income, which provides a deduction for taxes, related to the reallocation of equity securities to fixed income securities within the Company’s investment portfolio throughout 2018.

As of June 30, 2019, the Company's calendar years 2017, 2016 and 2015 remain subject to examination by the Internal Revenue Service.