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Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $4,124,767 at December 31, 2019 and $4,426,416 at December 31, 2018) $ 3,825,952 $ 4,222,855
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $162,202,355 at December 31, 2019 and $155,431,261 at December 31, 2018) 168,236,181 151,777,516
Equity securities, at fair value (cost of $22,624,668 at December 31, 2019 and $18,305,986 at December 31, 2018) 24,661,382 16,572,616
Other investments 2,584,913 1,855,225
Total investments 199,308,428 174,428,212
Cash and cash equivalents 32,391,485 21,138,403
Premiums receivable, net 12,706,411 13,961,599
Reinsurance receivables, net 40,750,538 26,367,115
Deferred policy acquisition costs 20,634,378 17,907,737
Intangible assets, net 500,000 670,000
Property and equipment, net 7,620,636 6,056,929
Deferred income tax 311,052 354,233
Other assets 6,979,884 5,867,850
Total assets 321,202,812 266,752,078
Liabilities    
Loss and loss adjustment expense reserves 80,498,611 56,197,106
Unearned premiums 90,383,238 79,032,131
Advance premiums 3,191,512 2,107,629
Reinsurance balances payable 11,714,724 1,933,376
Deferred ceding commission revenue 7,735,398 2,686,677
Accounts payable, accrued expenses and other liabilities 9,986,317 6,819,231
Income taxes payable 0 15,035
Long-term debt, net 29,471,431 29,295,251
Total liabilities 232,981,231 178,086,436
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 11,824,889 shares at December 31, 2019 and 11,775,148 at December 31, 2018; outstanding 10,797,450 shares at December 31, 2019 and 10,747,709 shares at December 31, 2018 118,248 117,751
Capital in excess of par 69,133,918 67,763,940
Accumulated other comprehensive income 4,768,870 (2,884,313)
Retained earnings 16,913,097 26,380,816
Total 90,934,133 91,378,194
Treasury stock, at cost, 1,027,439 shares at December 31, 2019 and at December 31, 2018 (2,712,552) (2,712,552)
Total stockholders' equity 88,221,581 88,665,642
Total liabilities and stockholders' equity $ 321,202,812 $ 266,752,078