Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 13,696	$ 12,348
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	477	10,589
Net deferred policy acquisition cost	(8,490)	(6,686)
Amortization of cost of insurance acquired	465	446
Depreciation	380	413
Amortization of premiums and discounts on investments	3,761	3,456
Stock-based compensation	333	300
Deferred federal income tax expense (benefit)	652	1,623
Change in:
Accrued investment income	8	(418)
Reinsurance recoverable	778	2,054
Due premiums	2,168	197
Future policy benefit reserves	(5,111)	3,993
Other policyholders' liabilities	8,156	3,222
Federal income tax receivable	1,253	2,754
Commissions payable and other liabilities	(3,116)	6,367
Other, net	34	(895)
Net cash provided by (used in) operating activities	15,444	39,763
Cash flows from investing activities:
Purchases of fixed maturity securities, available-for-sale	(50,077)	(102,348)
Sales of fixed maturity securities, available-for-sale	13,690	30,348
Maturities and calls of fixed maturity securities, available-for-sale	23,128	37,890
Sales of equity securities	770	0
Principal payments on mortgage loans	6	1,097
(Increase) decrease in policy loans, net	3,023	2,222
Sales of other long-term investments	3,793	4,130
Purchases of other long-term investments	(13,262)	(18,150)
Purchase of property and equipment	(292)	(76)
Maturity of short-term investments	750	0
Purchase of short-term investments	0	(1,250)
Net cash provided by (used in) investing activities	(18,471)	(46,137)
Cash flows from financing activities:
Annuity deposits	5,443	6,777
Annuity withdrawals	(7,828)	(6,634)
Acquisition of treasury stock	(719)	(2,183)
Issuance of common stock	0	2,244
Other	(57)	(117)
Net cash provided by (used in) financing activities	(3,161)	87
Net increase (decrease) in cash and cash equivalents	(6,188)	(6,287)
Cash and cash equivalents at beginning of year	22,973	27,294
Cash and cash equivalents at end of period	$ 16,785	$ 21,007

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees prior to deducting payments to satisfy employee's income tax withholding obligations as part of the net-share settlement.

No definition available.