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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $8,322,456 at June 30, 2020 and $4,124,767 at December 31, 2019) $ 7,870,374 $ 3,825,952
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $155,226,267 at June 30, 2020 and $162,202,355 at December 31, 2019) 165,466,488 168,236,181
Equity securities, at fair value (cost of $24,564,076 at June 30, 2020 and $22,624,668 at December 31, 2019) 22,705,709 24,661,382
Other investments 2,542,320 2,584,913
Total investments 198,584,891 199,308,428
Cash and cash equivalents 20,153,732 32,391,485
Premiums receivable, net 13,339,539 12,706,411
Reinsurance receivables, net 41,242,321 40,750,538
Deferred policy acquisition costs 19,522,342 20,634,378
Intangible asset 500,000 500,000
Property and equipment, net 7,361,798 7,620,636
Deferred income taxes, net 0 311,052
Other assets 8,595,855 6,979,884
Total assets 309,300,478 321,202,812
Liabilities    
Loss and loss adjustment expense reserves 76,608,359 80,498,611
Unearned premiums 85,006,280 90,383,238
Advance premiums 4,599,781 3,191,512
Reinsurance balances payable 5,467,103 11,714,724
Deferred ceding commission revenue 6,978,574 7,735,398
Accounts payable, accrued expenses and other liabilities 9,869,913 9,986,317
Deferred income taxes, net 1,589,469 0
Long-term debt, net 29,559,521 29,471,431
Total liabilities 219,679,000 232,981,231
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 11,866,254 shares at June 30, 2020 and 11,824,889 shares at December 31, 2019; outstanding 10,670,145 shares at June 30, 2020 and 10,797,450 shares at December 31, 2019 118,662 118,248
Capital in excess of par 69,951,549 69,133,918
Accumulated other comprehensive income 8,091,923 4,768,870
Retained earnings 14,973,684 16,913,097
Stockholder equity before treasury stock 93,135,818 90,934,133
Treasury stock, at cost, 1,196,109 shares at June 30, 2020 and 1,027,439 shares at December 31, 2019 3,514,340 2,712,552
Total stockholders' equity 89,621,478 88,221,581
Total liabilities and stockholders' equity $ 309,300,478 $ 321,202,812