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Consolidated Statements Of Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Net premiums written $ 36,612,558 $ 36,306,522 $ 102,918,454 $ 87,357,972
Investment income – interest and dividends 1,087,054 1,160,983 3,297,634 3,478,999
Net realized gain on investments 803,938 439,326 990,118 574,328
Other 4,633,915 3,094,874 13,864,170 8,280,139
Total Revenues 43,137,465 41,001,705 121,070,376 99,691,438
Operating Expenses:        
Commissions to agents 17,641,272 18,739,151 50,569,972 45,946,379
Provision (benefit) for claims 1,854,493 (1,067,853) 2,714,717 (403,982)
Salaries, employee benefits and payroll taxes 9,820,578 8,300,823 29,464,824 22,945,972
Office occupancy and operations 2,309,575 1,496,948 6,445,880 4,526,710
Business development 639,923 608,532 1,987,028 1,695,180
Filing fees, franchise and local taxes 203,912 191,574 935,476 688,731
Premium and retaliatory taxes 673,126 673,551 1,918,951 1,559,631
Professional and contract labor fees 447,651 523,504 1,375,291 1,599,603
Other 630,320 157,308 1,944,419 629,539
Total Operating Expenses 34,220,850 29,623,538 97,356,558 79,187,763
Income before Income Taxes 8,916,615 11,378,167 23,713,818 20,503,675
Provision for Income Taxes 2,990,000 3,249,000 7,647,000 6,040,000
Net Income 5,926,615 8,129,167 16,066,818 14,463,675
Net (Gain) Loss Attributable to Noncontrolling Interests (158) (2,228) 10,886 6,684
Net Income Attributable to the Company $ 5,926,457 $ 8,126,939 $ 16,077,704 $ 14,470,359
Basic Earnings per Common Share $ 3.14 $ 4.30 $ 8.52 $ 7.55
Weighted Average Shares Outstanding – Basic 1,887,103 1,888,870 1,886,474 1,915,468
Diluted Earnings per Common Share $ 3.13 $ 4.29 $ 8.48 $ 7.53
Weighted Average Shares Outstanding – Diluted 1,896,229 1,895,592 1,895,957 1,921,999
Cash Dividends Paid per Common Share $ 0.40 $ 0.20 $ 0.95 $ 0.52