XML 25 R2.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Balance Sheets - USD ($)
Sep. 30, 2015
Dec. 31, 2014
ASSETS    
Cash and cash equivalents $ 58,098,340 $ 35,777,140
Investment portfolio 52,694,353 45,427,456
Accounts receivable 16,988,637 16,514,146
Prepaid expenses 1,840,219 1,904,945
Property and equipment, net of depreciation 4,150,655 2,425,949
Income taxes receivable 5,296,206 0
Deferred taxes 6,555,129 5,658,992
Total assets 145,623,539 107,708,628
Liabilities    
Accounts payable and accrued expenses 8,498,381 6,550,770
Accrued incentive compensation 19,565,000 19,981,250
Deferred compensation 9,514,687 5,678,764
Income taxes payable 0 1,178,620
Total liabilities 37,578,068 33,389,404
Shareholders’ equity    
Common stock, no par value 7,000,000 shares authorized; 3,407,269 issued and outstanding at September 30, 2015 (inclusive of 310,456 unvested shares); 3,317,728 issued and outstanding at December 31, 2014 (inclusive of 306,768 unvested shares) 100,308,443 84,855,693
Preferred stock, undesignated, 1,000,000 shares authorized and unissued 0 0
Deferred equity compensation (19,711,840) (12,566,133)
Retained earnings 27,448,868 2,029,664
Total shareholders’ equity 108,045,471 74,319,224
Total liabilities and shareholders’ equity $ 145,623,539 $ 107,708,628
Book value per share (usd per share) $ 31.71 $ 22.4