XML 23 R13.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has two reportable segments, title insurance and exchange services. The remaining immaterial segments have been combined into a group called “All Other.” The Company’s chief operating decision makers (“CODMs”) are the Chief Executive Officer; President, Chief Financial Officer, Chief Accounting Officer, and Treasurer; and Executive Vice President and Secretary. The CODMs use financial metrics such as consolidated operating margin and net income to assess financial performance and to make key operating decisions, such as resource allocation and the rate at which the Company invests in growth opportunities.

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.

The tax-deferred exchange services segment acts as an intermediary in tax-deferred exchanges of property held for productive use in a trade or business or for investments and serves as exchange accommodation titleholder, holding property for exchangers in reverse exchange transactions.
Provided below is selected financial information about the Company's operations by segment for the periods ended March 31, 2025 and 2024:

Three Months Ended
March 31, 2025 (in thousands)		Title
Insurance		Exchange
Services		All
Other		Intersegment EliminationsTotal
Insurance and other services revenues$53,782 $2,992 $2,026 $(3,805)$54,995 
Net investment income840 44 686 — 1,570 
Total revenues54,622 3,036 2,712 (3,805)56,565 
Commissions to agents27,678 — — (2,821)24,857 
Provision for claims323 — — — 323 
Personnel expenses16,096 626 1,612 — 18,334 
Other8,778 99 951 (830)8,998 
Operating expenses52,875 725 2,563 (3,651)52,512 
Income before income taxes$1,747 $2,311 $149 $(154)$4,053 
Total assets$229,206 $7,313 $97,262 $— $333,781 
Three Months Ended
March 31, 2024 (in thousands)		Title
Insurance		Exchange
Services		All
Other		Intersegment EliminationsTotal
Insurance and other services revenues$47,728 $2,780 $1,910 $(4,012)$48,406 
Net investment income3,652 68 1,333 — 5,053 
Total revenues51,380 2,848 3,243 (4,012)53,459 
Commissions to agents22,831 — — (2,961)19,870 
Provision for claims910 — — — 910 
Personnel expenses16,523 593 1,466 — 18,582 
Other8,296 77 806 (879)8,300 
Operating expenses48,560 670 2,272 (3,840)47,662 
Income before income taxes$2,820 $2,178 $971 $(172)$5,797 
Total assets$215,375 $7,523 $106,596 $— $329,494