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Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $8,194,824 at December 31, 2020 and $4,124,767 at December 31, 2019) $ 7,368,815 $ 3,825,952
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $145,045,584 at December 31, 2020 and $162,202,355 at December 31, 2019) 157,549,272 168,236,181
Equity securities, at fair value (cost of $32,571,166 at December 31, 2020 and $22,624,668 at December 31, 2019) 34,413,313 24,661,382
Other investments 3,518,626 2,584,913
Total investments 202,850,026 199,308,428
Cash and cash equivalents 19,463,742 32,391,485
Premiums receivable, net 11,819,639 12,706,411
Reinsurance receivables, net 45,460,729 40,750,538
Deferred policy acquisition costs 20,142,515 20,634,378
Intangible assets 500,000 500,000
Property and equipment, net 8,083,123 7,620,636
Deferred income taxes, net 0 311,052
Other assets 9,262,493 6,979,884
Total assets 317,582,267 321,202,812
Liabilities    
Loss and loss adjustment expense reserves 82,801,228 80,498,611
Unearned premiums 90,009,272 90,383,238
Advance premiums 2,660,354 3,191,512
Reinsurance balances payable 6,979,735 11,714,724
Deferred ceding commission revenue 93,519 7,735,398
Accounts payable, accrued expenses and other liabilities 8,433,233 9,986,317
Deferred income tax, net 4,156,913 0
Long-term debt, net 29,647,611 29,471,431
Total liabilities 224,781,865 232,981,231
Commitments and Contingencies (Note 17) 0 0
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 December 31, 2020 and 11,824,889 at December 31, 2019; outstanding 10,616,815 shares at December 31, 2020 and 10,797,450 shares at December 31, 2019 118,713 118,248
Capital in excess of par 70,769,165 69,133,918
Accumulated other comprehensive income 9,880,062 4,768,870
Retained earnings 15,928,345 16,913,097
Equity 96,696,285 90,934,133
Treasury stock, at cost, 1,254,492 shares at December 31, 2020 and 1,027,439 shares at December 31, 2019 (3,895,883) (2,712,552)
Total stockholders' equity 92,800,402 88,221,581
Total liabilities and stockholders' equity $ 317,582,267 $ 321,202,812