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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $4,114,072 at June 30, 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 $160,085,628 at June 30, 2019 and $155,431,261 at December 31, 2018) 164,334,869 151,777,516
Equity securities, at fair value (cost of $22,254,788 at June 30, 2019 and $18,305,986 at December 31, 2018) 22,738,950 16,572,616
Other investments 2,335,874 1,855,225
Total investments 193,234,313 174,428,212
Cash and cash equivalents 18,895,805 21,138,403
Premiums receivable, net 14,958,200 13,961,599
Reinsurance receivables, net 28,643,360 26,367,115
Deferred policy acquisition costs 19,413,809 17,907,737
Intangible assets, net 500,000 670,000
Property and equipment, net 7,350,068 6,056,929
Deferred income taxes, net 216,474 354,233
Other assets 6,256,815 5,867,850
Total assets 289,468,844 266,752,078
Liabilities    
Loss and loss adjustment expense reserves 69,675,120 56,197,106
Unearned premiums 85,488,146 79,032,131
Advance premiums 3,468,225 2,107,629
Reinsurance balances payable 2,806,903 1,933,376
Deferred ceding commission revenue 3,100,156 2,686,677
Accounts payable, accrued expenses and other liabilities 7,877,191 6,819,231
Income taxes payable 0 15,035
Long-term debt, net 29,383,341 29,295,251
Total liabilities 201,799,082 178,086,436
Commitments and Contingencies (note 11)
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 11,802,087 shares at June 30, 2019 and 11,775,148 shares at December 31, 2018; outstanding 10,774,648 shares at June 30, 2019 and 10,747,709 shares at December 31, 2018 118,020 117,751
Capital in excess of par 68,373,590 67,763,940
Accumulated other comprehensive income (loss) 3,359,047 (2,884,313)
Retained earnings 18,531,657 26,380,816
Total 90,382,314 91,378,194
Treasury stock, at cost, 1,027,439 shares at June 30, 2019 and at December 31, 2018 (2,712,552) (2,712,552)
Total stockholders' equity 87,669,762 88,665,642
Total liabilities and stockholders' equity $ 289,468,844 $ 266,752,078