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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Investments:    
Fixed maturity securities available for sale, at fair value (amortized cost: $647,579 in 2023; $561,580 in 2022) $ 591,907 $ 515,064
Equity securities, at fair value (cost: $43,002 in 2023; $42,352 in 2022) 39,835 38,576
Equity method investment 2,923 0
Total investments 634,665 553,640
Cash and cash equivalents 53,026 68,108
Restricted cash 262 56
Accrued investment income 4,864 3,777
Premiums receivable 242,082 162,858
Deferred policy acquisition costs, net of ceding commissions and fronting fees 58,967 56,740
Reinsurance recoverable on paid losses and loss adjustment expenses 48,004 39,718
Reinsurance recoverable on unpaid losses and loss adjustment expenses 232,170 153,895
Ceded unearned premiums 259,760 204,084
Prepaid expenses and other assets 65,753 44,088
Deferred tax assets, net 13,643 10,622
Property and equipment, net 433 603
Goodwill and intangible assets, net 12,705 8,261
Total assets 1,626,334 1,306,450
Liabilities:    
Accounts payable and other accrued liabilities 32,532 25,760
Reserve for losses and loss adjustment expenses 324,348 231,415
Unearned premiums 570,453 471,314
Ceded premium payable 211,025 146,127
Funds held under reinsurance treaty 14,042 10,680
Borrowings from credit agreements 52,600 36,400
Total liabilities 1,205,000 921,696
Stockholders' equity:    
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of September 30, 2023 and December 31, 2022 0 0
Common stock, $0.0001 par value, 500,000,000 shares authorized, 24,730,885 and 25,027,467 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 3 3
Additional paid-in capital 345,673 333,558
Accumulated other comprehensive loss (43,221) (36,515)
Retained earnings 118,879 87,708
Total stockholders' equity 421,334 384,754
Total liabilities and stockholders' equity $ 1,626,334 $ 1,306,450