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Condensed Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Net premiums earned $ 31,201,279 $ 24,104,614 $ 60,797,168 $ 46,942,231
Ceding commission revenue 675,695 1,691,168 1,953,378 3,386,326
Net investment income 1,719,769 1,556,866 3,343,481 2,940,855
Net gains (losses) on investments 678,655 (106,733) 2,714,018 (629,860)
Other income 329,972 300,271 695,873 608,504
Total revenues 34,605,370 27,546,186 69,503,918 53,248,056
Expenses        
Loss and loss adjustment expenses 17,672,308 11,176,085 46,806,532 28,442,415
Commission expense 7,299,173 6,017,189 14,152,589 11,817,137
Other underwriting expenses 5,416,449 5,075,986 11,552,440 10,107,489
Other operating expenses 1,097,468 843,816 2,068,640 1,090,674
Depreciation and amortization 627,669 424,161 1,230,001 833,592
Interest expense 456,545 451,962 913,090 908,507
Total expenses 32,569,612 23,989,199 76,723,292 53,199,814
Income (loss) before taxes 2,035,758 3,556,987 (7,219,374) 48,242
Income tax expense (benefit) 396,378 799,690 (1,523,564) 8,879
Net income (loss) 1,639,380 2,757,297 (5,695,810) 39,363
Other comprehensive income (loss), net of tax        
Gross change in unrealized gains (losses) on available-for-sale-securities 3,679,475 (1,475,767) 7,868,191 (4,349,246)
Reclassification adjustment for losses included in net income 12,364 76,126 34,795 319,899
Net change in unrealized gains (losses) 3,691,839 (1,399,641) 7,902,986 (4,029,347)
Income tax benefit (expense) related to items of other comprehensive income (loss) (775,285) 293,723 (1,659,626) 845,961
Other comprehensive income (loss), net of tax 2,916,554 (1,105,918) 6,243,360 (3,183,386)
Comprehensive income (loss) $ 4,555,934 $ 1,651,379 $ 547,550 $ (3,144,023)
Earnings (loss) per common share:        
Basic $ 0.15 $ 0.26 $ (0.53) $ 0.00
Diluted $ 0.15 $ 0.25 $ (0.53) $ 0.00
Weighted average common shares outstanding        
Basic 10,771,717 10,664,806 10,764,824 10,667,385
Diluted 10,785,064 10,820,322 10,764,824 10,828,020
Dividends declared and paid per common share $ 0.1 $ 0.1 $ 0.2 $ 0.2