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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $4,076,611 at March 31, 2019 and $4,426,416 at December 31, 2018) $ 3,824,620 $ 4,222,855
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $159,919,750 at March 31, 2019 and $155,431,261 at December 31, 2018) 160,477,152 151,777,516
Equity securities, at fair value (cost of $19,646,481 at March 31, 2019 and $18,305,986 at December 31, 2018) 19,663,987 16,572,616
Other investments 2,147,945 1,855,225
Total investments 186,113,704 174,428,212
Cash and cash equivalents 15,764,480 21,138,403
Premiums receivable, net 14,211,748 13,961,599
Reinsurance receivables, net 26,157,637 26,367,115
Deferred policy acquisition costs 18,154,281 17,907,737
Intangible assets, net 585,000 670,000
Property and equipment, net 6,875,934 6,056,929
Deferred income taxes, net 0 354,233
Other assets 9,525,151 5,867,850
Total assets 277,387,935 266,752,078
Liabilities    
Loss and loss adjustment expense reserves 69,110,271 56,197,106
Unearned premiums 79,660,003 79,032,131
Advance premiums 3,064,413 2,107,629
Reinsurance balances payable 1,201,931 1,933,376
Deferred ceding commission revenue 2,745,387 2,686,677
Accounts payable, accrued expenses and other liabilities 7,450,822 6,819,231
Income taxes payable 0 15,035
Deferred income taxes, net 1,040,641 0
Long-term debt, net 29,339,296 29,295,251
Total liabilities 193,612,764 178,086,436
Commitments and Contingencies
Stockholders' Equity    
Preferred stock, $.01 par value; authorized 2,500,000 shares 0 0
Common stock, $.01 par value; authorized 20,000,000 shares; issued 11,796,188 shares at March 31, 2019 and 11,775,148 at December 31, 2018; outstanding 10,768,349 shares at March 31, 2019 and 10,747,709 shares at December 31, 2018 117,962 117,751
Capital in excess of par 67,957,604 67,763,940
Accumulated other comprehensive income (loss) 442,493 (2,884,313)
Retained earnings 17,969,664 26,380,816
Total 86,487,723 91,378,194
Treasury stock, at cost, 1,027,439 shares at March 31, 2019 and at December 31, 2018 (2,712,552) (2,712,552)
Total stockholders' equity 83,775,171 88,665,642
Total liabilities and stockholders' equity $ 277,387,935 $ 266,752,078