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Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Fixed maturities    
Held to maturity, at amortized cost $ 643,847,647 $ 586,609,439
Available for sale, at fair value 522,580,264 555,136,017
Equity securities, at fair value 72,757,031 58,556,173
Short-term investments, at cost, which approximates fair value 22,767,372 20,900,155
Total investments 1,261,952,314 1,221,201,784
Cash 88,004,738 103,094,236
Accrued investment income 8,175,750 7,936,879
Premiums receivable 189,383,783 169,596,332
Reinsurance receivable 422,198,101 408,908,850
Deferred policy acquisition costs 69,687,624 59,156,958
Deferred tax asset, net 5,134,455 5,683,113
Prepaid reinsurance premiums 186,451,557 169,418,333
Property and equipment, net 3,350,691 4,390,377
Accounts receivable - securities 79,402 67,676
Federal income taxes recoverable 4,018,210 3,089,369
Goodwill 5,625,354 5,625,354
Other intangible assets 958,010 958,010
Other 1,380,569 1,393,053
Total assets 2,246,400,558 2,160,520,324
Liabilities    
Losses and loss expenses 998,658,015 962,007,437
Unearned premiums 599,949,617 537,189,598
Accrued expenses 11,465,644 29,115,198
Reinsurance balances payable 4,030,947 3,233,523
Borrowings under lines of credit 35,000,000 85,000,000
Cash dividends declared to stockholders 0 4,436,301
Subordinated debentures 5,000,000 5,000,000
Accounts payable - securities 11,295,765 0
Due to affiliate 22,196,384 10,293,495
Other 8,647,393 6,470,652
Total liabilities 1,696,243,765 1,642,746,204
Stockholders' Equity    
Preferred stock
Additional paid-in capital 302,510,624 289,149,567
Accumulated other comprehensive income 8,473,471 11,130,612
Retained earnings 280,056,364 258,387,288
Treasury stock, at cost (41,226,357) (41,226,357)
Total stockholders' equity 550,156,793 517,774,120
Total liabilities and stockholders' equity 2,246,400,558 2,160,520,324
Class A Common Stock [Member]    
Stockholders' Equity    
Common stock value 286,199 276,518
Total stockholders' equity 286,199 276,518
Class B Common Stock [Member]    
Stockholders' Equity    
Common stock value 56,492 56,492
Total stockholders' equity $ 56,492 $ 56,492