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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $4,127,384 at September 30, 2019 and $4,426,416 at December 31, 2018) $ 3,825,505 $ 4,222,855
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $160,601,004 at September 30, 2019 and $155,431,261 at December 31, 2018) 166,220,711 151,777,516
Equity securities, at fair value (cost of $22,070,565 at September 30, 2019 and $18,305,986 at December 31, 2018) 23,499,199 16,572,616
Other investments 2,425,904 1,855,225
Total investments 195,971,319 174,428,212
Cash and cash equivalents 25,639,050 21,138,403
Premiums receivable, net 14,352,521 13,961,599
Reinsurance receivables, net 26,580,449 26,367,115
Deferred policy acquisition costs 20,491,568 17,907,737
Intangible assets, net 500,000 670,000
Property and equipment, net 7,582,210 6,056,929
Deferred income taxes, net 540,295 354,233
Other assets 6,762,909 5,867,850
Total assets 298,420,321 266,752,078
Liabilities    
Loss and loss adjustment expense reserves 77,409,423 56,197,106
Unearned premiums 90,068,683 79,032,131
Advance premiums 3,737,491 2,107,629
Reinsurance balances payable 809,836 1,933,376
Deferred ceding commission revenue 1,828,872 2,686,677
Accounts payable, accrued expenses and other liabilities 8,403,012 6,819,231
Income taxes payable 0 15,035
Long-term debt, net 29,427,386 29,295,251
Total liabilities 211,684,703 178,086,436
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 11,811,011 shares at September 30, 2019 and 11,775,148 shares at December 31, 2018; outstanding 10,783,572 shares at September 30, 2019 and 10,747,709 shares at December 31, 2018 118,110 117,751
Capital in excess of par 68,755,776 67,763,940
Accumulated other comprehensive income (loss) 4,441,716 (2,884,313)
Retained earnings 16,132,568 26,380,816
Total 89,448,170 91,378,194
Treasury stock, at cost, 1,027,439 shares at September 30, 2019 and at December 31, 2018 (2,712,552) (2,712,552)
Total stockholders' equity 86,735,618 88,665,642
Total liabilities and stockholders' equity $ 298,420,321 $ 266,752,078