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Note 17 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the Company’s income tax expense (benefit) are as follows:

		December 31,
		2025				2024				2023
		($ in thousands)
Current:
Federal		$	53,318			$	31,006			$	26,756
State			960				554				511
Total Current			54,278				31,560				27,267
Deferred:
Federal			2,003				1,997				(2,900	)
State			39				66				74
Total Deferred			2,042				2,063				(2,826	)
Income tax expense		$	56,320			$	33,623			$	24,441

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

As of December 31, 2025 and 2024, significant components of the Company’s deferred tax assets and liabilities were as follows:

		December 31,
		2025				2024
		($ in thousands)
Deferred tax assets:
Losses and LAE reserve discount		$	3,445			$	1,711
State tax net operating losses			3,271				3,372
Deferred Intercompany			533				605
Unearned premiums			27,017				19,550
Capitalized organizational costs			94				124
Unrealized losses on investments			—				5,134
Deferred compensation			3,152				2,533
Lease Liability			1,489				1,631
Other			1,487				2,230
Total deferred tax assets		$	40,488			$	36,890
Deferred tax liabilities:
Deferred acquisition costs		$	(26,824	)		$	(19,929	)
Unrealized gains on investments			(2,800	)			—
Internally developed software			(3,027	)			(1,118	)
State deferred tax liability			(1,255	)			(1,216	)
Right-of-use Asset			(1,445	)			(1,604	)
Other			(1,104	)			(837	)
Total deferred tax liabilities			(36,455	)			(24,704	)
Net deferred tax asset before valuation allowance			4,033				12,186
Valuation allowance			(3,272	)			(3,372	)
Total net deferred tax assets		$	761			$	8,814

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate for the tax years ended December 31, 2025, 2024 and 2023:

		Years Ended December 31,
		2025								2024								2023
		($ in thousands)
Expense computed at federal tax rate		$	53,212				21.00	%		$	31,750				21.00	%		$	21,765				21.00	%
State and local income tax, net of federal (national) income tax effect (1) (2)			1,027				0.41	%			488				0.32	%			719				0.69	%
Nontaxable or nondeductible items
Stock-based compensation			553				0.22	%			429				0.28	%			1,523				1.47	%
Dividend received deduction and tax‑exempt interest			(95	)			(0.04	)%			(90	)			(0.06	)%			(96	)			(0.09	)%
Meals & entertainment, penalties & parking			447				0.18	%			291				0.19	%			261				0.25	%
Other			1,176				0.45	%			755				0.50	%			269				0.26	%
Income tax expense		$	56,320				22.22	%		$	33,623				22.23	%		$	24,441				23.58	%

(1)State taxes in California, Oregon, and Illinois made up the majority (greater than 50%) of the tax effect in this category.

(2)Certain prior year amounts have been reclassified to conform to the current year presentation. Such reclassifications had no impact on net income.

Schedule of Income Taxes Paid

As of December 31, 2025, the amount of income taxes paid is as follows:

		December 31,
		2025				2024
		($ in thousands)
Income taxes paid
Federal		$	57,961			$	37,810
State			1,124				644
Total income taxes paid		$	59,085			$	38,454

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