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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Investments:    
Fixed maturity securities-held-to-maturity, at amortized cost net of allowance for credit losses of $136 and $182 in 2024 and 2023, respectively, (fair value $430,353 and $473,092 in 2024 and 2023, respectively) $ 436,369 $ 483,575
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023) 315,114 317,064
Equity securities, at fair value (cost $36,020 and $44,046 in 2024 and 2023, respectively) 57,712 57,147
Short-term investments 26,337 0
Total investments 835,532 857,786
Cash and cash equivalents 63,663 38,682
Amounts recoverable from reinsurers (net of allowance for credit losses of $330 and $360 in 2024 and 2023, respectively) 128,963 129,963
Premiums receivable (net of allowance for credit losses of $4,486 and $4,674 in 2024 and 2023, respectively) 152,945 132,861
Deferred income taxes 19,499 20,403
Accrued interest receivable 8,192 8,274
Property and equipment, net 6,131 6,349
Deferred policy acquisition costs 20,148 17,975
Federal income tax recoverable 2,759 1,781
Other assets 16,895 15,088
Total assets 1,254,727 1,229,162
Liabilities:    
Reserves for loss and loss adjustment expenses 663,486 673,994
Unearned premiums 131,994 116,585
Amounts held for others 50,262 53,694
Policyholder deposits 33,704 34,522
Insurance-related assessments 16,841 16,896
Accounts payable and other liabilities 39,898 41,020
Payable for investments purchased 4,171  
Total liabilities 940,356 936,711
Shareholders’ equity:    
Common stock: voting-$0.01 par value authorized shares-50,000,000 in 2024 and 2023; 20,732,821 and 20,704,448 shares issued; and 19,049,970 and 19,135,008 shares outstanding in 2024 and 2023, respectively 207 207
Additional paid-in capital 223,605 222,078
Treasury stock, at cost (1,682,851 and 1,569,440 shares in 2024 and 2023) (42,050) (36,929)
Accumulated earnings 135,284 114,289
Accumulated other comprehensive loss, net (2,675) (7,194)
Total shareholders’ equity 314,371 292,451
Total liabilities and shareholders’ equity $ 1,254,727 $ 1,229,162