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Consolidated Statements Of Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Net premiums written $ 33,450,241 $ 29,686,120 $ 65,748,900 $ 51,051,450
Investment income – interest and dividends 1,113,989 1,167,005 2,210,580 2,318,016
Net realized gain (loss) on investments 82,841 (14,828) 186,180 135,002
Other 5,484,651 2,989,414 9,787,251 5,185,265
Total Revenues 40,131,722 33,827,711 77,932,911 58,689,733
Operating Expenses:        
Commissions to agents 16,597,590 15,674,346 32,928,700 27,207,228
Provision for claims 140,827 647,912 860,224 663,871
Salaries, employee benefits and payroll taxes 9,741,975 7,173,198 19,644,246 14,645,149
Office occupancy and operations 2,197,250 1,535,902 4,136,305 3,029,762
Business development 734,158 606,258 1,347,105 1,086,648
Filing fees, franchise and local taxes 578,008 267,103 731,564 497,157
Premium and retaliatory taxes 600,440 574,249 1,245,825 886,080
Professional and contract labor fees 488,464 537,446 927,640 1,076,099
Other 706,987 269,250 1,314,099 472,231
Total Operating Expenses 31,785,699 27,285,664 63,135,708 49,564,225
Income before Income Taxes 8,346,023 6,542,047 14,797,203 9,125,508
Provision for Income Taxes 2,672,000 2,012,000 4,657,000 2,791,000
Net Income 5,674,023 4,530,047 10,140,203 6,334,508
Net Loss (Gain) Attributable to Noncontrolling Interests 1,169 (667) 11,044 8,912
Net Income Attributable to the Company $ 5,675,192 $ 4,529,380 $ 10,151,247 $ 6,343,420
Basic Earnings per Common Share $ 3.01 $ 2.36 $ 5.38 $ 3.29
Weighted Average Shares Outstanding – Basic 1,886,735 1,923,213 1,886,161 1,928,766
Diluted Earnings per Common Share $ 2.99 $ 2.35 $ 5.35 $ 3.28
Weighted Average Shares Outstanding – Diluted 1,896,581 1,928,625 1,895,840 1,935,325
Cash Dividends Paid per Common Share $ 0.35 $ 0.16 $ 0.55 $ 0.32