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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $9,564,055 at March 31, 2021 and $8,194,824 at December 31, 2020) $ 9,180,786 $ 7,368,815
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $139,299,693 at March 31, 2021 and $145,045,584 at December 31, 2020) 147,585,805 157,549,272
Equity securities, at fair value (cost of $32,651,343 at March 31, 2021 and $32,571,166 at December 31, 2020) 35,430,803 34,413,313
Other investments 6,348,590 3,518,626
Total investments 198,545,984 202,850,026
Cash and cash equivalents 22,179,960 19,463,742
Premiums receivable, net 10,885,621 11,819,639
Reinsurance receivables, net 37,366,742 45,460,729
Deferred policy acquisition costs 19,351,989 20,142,515
Intangible assets 500,000 500,000
Property and equipment, net 8,294,847 8,083,123
Other assets 9,759,071 9,262,493
Total assets 306,884,214 317,582,267
Liabilities    
Loss and loss adjustment expense reserves 84,457,059 82,801,228
Unearned premiums 86,219,795 90,009,272
Advance premiums 4,145,845 2,660,354
Reinsurance balances payable 2,336,498 6,979,735
Deferred ceding commission revenue 93,318 93,519
Accounts payable, accrued expenses and other liabilities 7,789,131 8,433,233
Deferred income taxes, net 3,138,231 4,156,913
Long-term debt, net 29,691,656 29,647,611
Total liabilities 217,871,533 224,781,865
Commitments and Contingencies (Note 11) 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 11,935,321 shares at March 31, 2021 and 11,871,307 at December 31, 2020; outstanding 10,672,794 shares at March 31, 2021 and 10,616,815 shares at December 31, 2020 119,353 118,713
Capital in excess of par 71,116,917 70,769,165
Accumulated other comprehensive income 6,548,178 9,880,062
Retained earnings 15,190,031 15,928,345
Equity 92,974,479 96,696,285
Treasury stock, at cost, 1,262,527 shares at March 31, 2021 and 1,254,492 shares at December 31, 2020 (3,961,798) (3,895,883)
Total stockholders' equity 89,012,681 92,800,402
Total liabilities and stockholders' equity $ 306,884,214 $ 317,582,267