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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income (loss) $ 4,872 $ 6,449
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Investment related (gains) losses on sale of investments and other assets 288 582
Net deferred policy acquisition cost (2,544) (1,222)
Amortization of cost of insurance acquired 161 129
Depreciation 122 153
Amortization of premiums and discounts on investments 1,203 1,386
Stock-based compensation 70 132
Deferred federal income tax expense (benefit) 706 896
Change in:    
Accrued investment income 173 442
Reinsurance recoverable 237 1,965
Due premiums 2,648 1,777
Future policy benefit reserves (125) 706
Other policyholders' liabilities 1,582 (2,406)
Federal income tax receivable 1,138 (166)
Commissions payable and other liabilities (2,673) 1,489
Other, net (504) (172)
Net cash provided by (used in) operating activities 7,354 12,140
Cash flows from investing activities:    
Purchases of fixed maturity securities, available-for-sale (25,114) (26,050)
Sales of fixed maturity securities, available-for-sale 2,865 1,100
Maturities and calls of fixed maturity securities, available-for-sale 14,426 10,435
Principal payments on mortgage loans 2 2
(Increase) decrease in policy loans, net 114 962
Sales of other long-term investments 249 1,681
Purchases of other long-term investments (3,495) (7,940)
Purchase of property and equipment (73) (34)
Purchase of short-term investments 0 (5)
Net cash provided by (used in) investing activities (11,026) (19,849)
Cash flows from financing activities:    
Annuity deposits 2,008 2,227
Annuity withdrawals (2,365) (2,263)
Issuance of common stock 0 1,788
Other (20) (39)
Net cash provided by (used in) financing activities (377) 1,713
Net increase (decrease) in cash and cash equivalents (4,049) (5,996)
Cash and cash equivalents at beginning of year 22,973 27,294
Cash and cash equivalents at end of period $ 18,924 $ 21,298