XML 42 R21.htm IDEA: XBRL DOCUMENT v3.7.0.1
Segment Information
 12 Months Ended
Dec. 31, 2016
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 December 31, 2016, 2015 and 2014:
2016
Title
Insurance
 
All
Other
 
Intersegment
Eliminations
 
Total
Insurance and other services revenues
$
128,408,746

 
$
6,808,392

 
$
(2,177,649
)
 
$
133,039,489

Investment income
4,329,605

 
564,891

 
(210,007
)
 
4,684,489

Net realized gain on investments
644,850

 
123,586

 
—

 
768,436

Total revenues
$
133,383,201

 
$
7,496,869

 
$
(2,387,656
)
 
$
138,492,414

Operating expenses
105,885,770

 
6,583,157

 
(2,107,965
)
 
110,360,962

Income before income taxes
$
27,497,431

 
$
913,712

 
$
(279,691
)
 
$
28,131,452

Total assets
$
183,763,655

 
$
45,174,467

 
$
—

 
$
228,938,122

2015
Title
Insurance
 
All
Other
 
Intersegment
Eliminations
 
Total
Insurance and other services revenues
$
118,144,981

 
$
6,479,484

 
$
(1,839,549
)
 
$
122,784,916

Investment income
4,073,857

 
574,132

 
(116,670
)
 
4,531,319

Net realized loss on investments
(13,603
)
 
(102,560
)
 
—

 
(116,163
)
Total revenues
$
122,205,235

 
$
6,951,056

 
$
(1,956,219
)
 
$
127,200,072

Operating expenses
104,594,829

 
6,598,055

 
(1,769,865
)
 
109,423,019

Income before income taxes
$
17,610,406

 
$
353,001

 
$
(186,354
)
 
$
17,777,053

Total assets
$
163,582,898

 
$
47,939,131

 
$
—

 
$
211,522,029

2014
Title
Insurance
 
All
Other
 
Intersegment
Eliminations
 
Total
Insurance and other services revenues
$
114,279,532

 
$
5,904,059

 
$
(1,592,100
)
 
$
118,591,491

Investment income
3,835,209

 
517,628

 
(93,336
)
 
4,259,501

Net realized gain on investments
213,709

 
54,585

 
—

 
268,294

Total revenues
$
118,328,450

 
$
6,476,272

 
$
(1,685,436
)
 
$
123,119,286

Operating expenses
105,290,627

 
5,862,577

 
(1,522,416
)
 
109,630,788

Income before income taxes
$
13,037,823

 
$
613,695

 
$
(163,020
)
 
$
13,488,498

Total assets
$
153,072,950

 
$
44,966,260

 
$
—

 
$
198,039,210