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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Assets:    
Cash and cash equivalents $ 70,623 $ 101,077
Fixed income securities, at fair value 364,651 320,410
Equity securities, at fair value 77,690 69,952
Other investments 2,005 2,924
Total cash and investments 514,969 494,363
Premiums and agents' balances receivable 51,452 48,523
Deferred policy acquisition costs 24,947 23,968
Reinsurance premiums receivable 93
Reinsurance recoverables on losses 21,200 8,710
Income tax recoverable 364
Accrued investment income 2,524 2,141
Property and equipment, net 9,869 9,899
Receivable from Federal Crop Insurance Corporation 6,646
Goodwill and other intangibles 17,722 18,194
Other assets 8,735 5,066
Total assets 651,782 617,603
Liabilities:    
Unpaid losses and loss adjustment expenses 139,662 105,750
Unearned premiums 127,789 119,363
Reinsurance premiums payable 326
Income tax payable 754
Deferred income taxes 5,506 8,757
Payable to Federal Crop Insurance Corporation 4,962
Westminster consideration payable 13,020 19,287
Accrued expenses and other liabilities 13,104 14,820
Total liabilities 304,369 268,731
Commitments and contingencies
Shareholders' equity:    
Common stock, $0.01 par value, authorized 25,000,000 shares, issued: 23,000,000 shares; and outstanding: 2021 - 21,219,808 shares, 2020 - 21,318,638 shares 230 230
Preferred stock, without par value, authorized 5,000,000 shares, no shares issued or outstanding
Additional paid-in capital 98,166 97,911
Unearned employee stock ownership plan shares (1,184) (1,427)
Retained earnings 267,207 258,741
Accumulated other comprehensive income, net of income taxes 5,237 12,840
Treasury stock, at cost, 2021 - 1,661,767 shares, 2020 - 1,538,622 shares (26,452) (23,968)
Non-controlling interest 4,209 4,545
Total shareholders' equity 347,413 348,872
Total liabilities and shareholders' equity $ 651,782 $ 617,603