XML 61 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Information
 9 Months Ended
Sep. 30, 2014
Segment Reporting [Abstract]  
Segment Information
Segment Information

The Company has one reportable segment, title insurance services.  The remaining immaterial segments have been combined into a group called “All Other.”

The title insurance segment primarily issues title insurance policies through approved attorneys from underwriting offices and through independent issuing agents. Title insurance policies insure titles to real estate.

Provided below is selected financial information about the Company's operations by segment for the periods ended September 30, 2014 and 2013:
Three Months Ended September 30, 2014
Title
Insurance
 
All
Other
 
Intersegment
Eliminations
 
Total
Insurance and other services revenues
$
27,381,759

 
$
1,517,927

 
$
(465,140
)
 
$
28,434,546

Investment income
956,894

 
131,435

 
(23,334
)
 
1,064,995

Net realized gain on investments
5,781

 
2,908

 
—

 
8,689

Total revenues
$
28,344,434

 
$
1,652,270

 
$
(488,474
)
 
$
29,508,230

Operating expenses
24,940,774

 
1,416,685

 
(447,719
)
 
25,909,740

Income before income taxes
$
3,403,660

 
$
235,585

 
$
(40,755
)
 
$
3,598,490

Total assets
$
152,813,417

 
$
42,681,883

 
$
—

 
$
195,495,300

Three Months Ended September 30, 2013
Title
Insurance
 
All
Other
 
Intersegment
Eliminations
 
Total
Insurance and other services revenues
$
31,343,108

 
$
1,396,309

 
$
(386,454
)
 
$
32,352,963

Investment income
919,819

 
93,854

 
(23,335
)
 
990,338

Net realized gain on investments
250,600

 
11,338

 
—

 
261,938

Total revenues
$
32,513,527

 
$
1,501,501

 
$
(409,789
)
 
$
33,605,239

Operating expenses
24,212,255

 
1,485,494

 
(369,033
)
 
25,328,716

Income before income taxes
$
8,301,272

 
$
16,007

 
$
(40,756
)
 
$
8,276,523

Total assets
$
151,795,001

 
$
37,362,629

 
$
—

 
$
189,157,630

Nine Months Ended September 30, 2014
Title
Insurance
 
All
Other
 
Intersegment
Eliminations
 
Total
Insurance and other services revenues
$
84,257,427


$
4,418,659


$
(1,215,983
)

$
87,460,103

Investment income
2,823,098


377,750


(70,002
)

3,130,846

Net realized gain on investments
536,309


56,599


—


592,908

Total revenues
$
87,616,834


$
4,853,008


$
(1,285,985
)

$
91,183,857

Operating expenses
78,256,239


4,457,289


(1,163,720
)

81,549,808

Income before income taxes
$
9,360,595


$
395,719


$
(122,265
)

$
9,634,049

Total assets
$
152,813,417


$
42,681,883


$
—


$
195,495,300

Nine Months Ended September 30, 2013
Title
Insurance
 
All
Other
 
Intersegment
Eliminations
 
Total
Insurance and other services revenues
$
88,063,272

 
$
4,004,766

 
$
(1,090,550
)
 
$
90,977,488

Investment income
2,626,642

 
279,231

 
(70,003
)
 
2,835,870

Net realized gain (loss) on investments
341,674

 
(8,120
)
 
—

 
333,554

Total revenues
$
91,031,588

 
$
4,275,877

 
$
(1,160,553
)
 
$
94,146,912

Operating expenses
71,657,966

 
4,629,241

 
(1,038,286
)
 
75,248,921

Income (loss) before income taxes
$
19,373,622

 
$
(353,364
)
 
$
(122,267
)
 
$
18,897,991

Total assets
$
151,795,001

 
$
37,362,629

 
$
—

 
$
189,157,630