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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $7,899,304 at September 30, 2020 and $4,124,767 at December 31, 2019) $ 7,369,608 $ 3,825,952
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $145,126,859 at September 30, 2020 and $162,202,355 at December 31, 2019) 156,538,589 168,236,181
Equity securities, at fair value (cost of $30,300,839 at September 30, 2020 and $22,624,668 at December 31, 2019) 29,623,267 24,661,382
Other investments 2,829,078 2,584,913
Total investments 196,360,542 199,308,428
Cash and cash equivalents 24,388,103 32,391,485
Premiums receivable, net 13,883,708 12,706,411
Reinsurance receivables, net 55,529,408 40,750,538
Deferred policy acquisition costs 19,916,325 20,634,378
Intangible assets 500,000 500,000
Property and equipment, net 7,788,633 7,620,636
Deferred income taxes, net 0 311,052
Other assets 8,992,936 6,979,884
Total assets 327,359,655 321,202,812
Liabilities    
Loss and loss adjustment expense reserves 84,979,024 80,498,611
Unearned premiums 88,167,636 90,383,238
Advance premiums 4,919,256 3,191,512
Reinsurance balances payable 10,062,649 11,714,724
Deferred ceding commission revenue 7,207,142 7,735,398
Accounts payable, accrued expenses and other liabilities 11,134,175 9,986,317
Deferred income taxes, net 1,972,782  
Long-term debt, net 29,603,566 29,471,431
Total liabilities 238,046,230 232,981,231
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 11,871,307 shares at September 30, 2020 and 11,824,889 at December 31, 2019; outstanding 10,675,198 shares at September 30, 2020 and 10,797,450 shares at December 31, 2019 118,713 118,248
Capital in excess of par 70,372,799 69,133,918
Accumulated other comprehensive income 9,017,415 4,768,870
Retained earnings 13,318,838 16,913,097
Stockholders' Equity before Treasury Stock 92,827,765 90,934,133
Treasury stock, at cost, 1,196,109 shares at September 30, 2020 and 1,027,439 shares at December 31, 2019 (3,514,340) (2,712,552)
Total stockholders' equity 89,313,425 88,221,581
Total liabilities and stockholders' equity $ 327,359,655 $ 321,202,812