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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
ASSETS    
Available-for-sale debt securities, at fair value, net of allowance for credit loss of $470 (amortized cost: $840,646 and $828,336) $ 842,574 $ 855,284
Equity securities, at fair value (cost: $54,668 and $43,523) 52,700 43,717
Investment real estate, net 15,280 15,585
Total invested assets 910,554 914,586
Cash and cash equivalents 405,132 182,109
Restricted cash and cash equivalents [1] 21,115 2,635
Prepaid reinsurance premiums 333,062 175,208
Reinsurance recoverable 95,078 193,236
Premiums receivable, net 76,800 63,883
Property and equipment, net 52,300 41,351
Deferred policy acquisition costs 111,295 91,882
Income taxes recoverable 26,383 34,283
Deferred income tax asset, net 1,473 3,351
Other assets 16,992 17,328
Total assets 2,050,184 1,719,852
LIABILITIES:    
Unpaid losses and loss adjustment expenses 202,720 267,760
Unearned premiums 789,137 661,279
Advance premium 55,334 30,975
Payable for securities purchased 98,177 0
Book overdraft 0 90,401
Reinsurance payable, net 351,255 122,581
Other liabilities and accrued expenses 69,975 43,029
Long-term debt 8,823 9,926
Total liabilities 1,575,421 1,225,951
Commitments and Contingencies (Note 12)
STOCKHOLDERS’ EQUITY:    
Cumulative convertible preferred stock, $.01 par value Authorized shares - 1,000 Issued shares - 10 and 10 Outstanding shares - 10 and 10 Minimum liquidation preference, $9.99 and $9.99 per share 0 0
Common stock, $.01 par value Authorized shares - 55,000 Issued shares - 46,821 and 46,707 Outstanding shares - 31,334 and 32,638 468 467
Treasury shares, at cost - 15,487 and 14,069 (223,086) (196,585)
Additional paid-in capital 101,438 96,036
Accumulated other comprehensive income, net of taxes 1,662 20,364
Retained earnings 594,281 573,619
Total stockholders’ equity 474,763 493,901
Total liabilities and stockholders’ equity $ 2,050,184 $ 1,719,852
[1] See “—Note 5 (Insurance Operations)” for a discussion of the nature of the restrictions for restricted cash and cash equivalents and “—Note 14 (Variable Interest Entities)” for a discussion of restricted cash held in a trust account.