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Consolidated Statements of Income (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified | 3 Months Ended
--- | ---
Mar. 31, 2014 | Mar. 31, 2013
Revenue |  |
Gross premiums earned | $ 93,888 | $ 82,547
Premiums ceded | (27,508) | (21,996)
Net premiums earned | 66,380 | 60,551
Net investment income | 1,059 | 139
Policy fee income | 257 | 772
Net realized investment gains | 4 | 20
Other | 417 | 329
Total revenue | 68,117 | 61,811
Expenses |  |
Losses and loss adjustment expenses | 18,565 | 15,872
Policy acquisition and other underwriting expenses | 9,129 | 5,968
Interest expense | 2,574 | 686
Other operating expenses | 9,539 | 6,115
Total expenses | 39,807 | 28,641
Income before income taxes | 28,310 | 33,170
Income tax expense | 10,690 | 12,783
Net income | 17,620 | 20,387
Preferred stock dividends | 3 | (34)
Income available to common stockholders | $ 17,623 | $ 20,353
Basic earnings per common share | $ 1.60 | $ 1.87
Diluted earnings per common share | $ 1.44 | $ 1.81
Dividends per common share | $ 0.28 | $ 0.23

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