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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 8,332 $ 41,344 $ 26,500
Adjustments to reconcile net income to net cash flows from operating activities:      
Net capital gain on investments (15,479) (13,624) (14,783)
Deferred income tax (benefit) expense (1,310) 638 1,871
Depreciation of property and equipment 694 709 538
Amortization of intangibles 472 5,224 1,711
Distribution of employee stock ownership plan shares 460 373 405
Share-based incentive compensation 2,408 2,297 1,613
Amortization of deferred policy acquisition costs 64,574 51,472 46,188
Deferral of policy acquisition costs (65,553) (60,041) (48,721)
Net amortization of premiums and discounts on investments 2,080 1,460 1,146
Loss on sale of property and equipment 31 6 37
Changes in operating assets and liabilities:      
Premiums and agents' balances receivable (2,929) (3,325) (2,404)
Reinsurance premiums receivable / payable 419 (828) 170
Reinsurance recoverables on losses (12,490) (3,902) (1,813)
Income tax recoverable / payable (1,118) (753) 889
Accrued investment income (383) 17 (191)
Federal Crop Insurance Corporation receivable / payable 11,608 7,584 1,939
Other assets (3,669) 186 (109)
Unpaid losses and loss adjustment expenses 33,912 3,932 6,129
Unearned premiums 8,426 13,476 4,509
Accrued expenses and other liabilities (1,317) 4,765 41
Net cash flows from operating activities 29,168 51,010 25,665
Cash flows from investing activities:      
Proceeds from maturities and sales of fixed income securities 73,015 87,874 59,649
Proceeds from sales of equity securities 44,600 27,718 20,174
Purchases of fixed income securities (128,480) (91,559) (92,012)
Purchases of equity securities (37,491) (22,312) (17,042)
Purchases of property and equipment (696) (543) (1,290)
Acquisition of Westminster American Insurance Company (cash consideration paid net of cash and cash equivalents acquired) (703)
Proceeds from sale of other investments and other 901 (275) 63
Net cash flows from investing activities (48,151) 200 (30,458)
Cash flows from financing activities:      
Purchases of treasury stock (4,316) (12,234) (2,006)
Installment payment on Westminster consideration payable (6,667)
Issuance of restricted stock awards (488) (31) (19)
Net cash flows from financing activities (11,471) (12,265) (2,025)
Net (decrease) increase in cash and cash equivalents (30,454) 38,945 (6,818)
Cash and cash equivalents at beginning of period 101,077 62,132 68,950
Cash and cash equivalents at end of period 70,623 101,077 62,132
Non-cash item: Present value of installment payable issued in connection with acquisition of Westminster American Insurance Company 18,787
Federal and state income taxes paid $ 5,402 $ 11,586 $ 4,000