XML 14 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $10,458,317 at June 30, 2021 and $8,194,824 at December 31, 2020) $ 9,822,799 $ 7,368,815
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $128,897,850 at June 30, 2021 and $145,045,584 at December 31, 2020) 137,916,652 157,549,272
Equity securities, at fair value (cost of $32,679,724 at June 30, 2021 and $32,571,166 at December 31, 2020) 36,317,931 34,413,313
Other investments 6,983,057 3,518,626
Total investments 191,040,439 202,850,026
Cash and cash equivalents 43,059,747 19,463,742
Premiums receivable, net 10,719,732 11,819,639
Reinsurance receivables, net 28,192,924 45,460,729
Deferred policy acquisition costs 19,950,955 20,142,515
Intangible assets 500,000 500,000
Property and equipment, net 8,619,114 8,083,123
Other assets 10,617,258 9,262,493
Total assets 312,700,169 317,582,267
Liabilities    
Loss and loss adjustment expense reserves 85,025,038 82,801,228
Unearned premiums 88,072,566 90,009,272
Advance premiums 5,242,684 2,660,354
Reinsurance balances payable 2,026,000 6,979,735
Deferred ceding commission revenue 84,588 93,519
Accounts payable, accrued expenses and other liabilities 8,535,418 8,433,233
Deferred income taxes, net 4,013,528 4,156,913
Long-term debt, net 29,735,701 29,647,611
Total liabilities 222,735,523 224,781,865
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 11,944,220 shares at June 30, 2021 and 11,871,307 shares at December 31, 2020; outstanding 10,561,143 shares at June 30, 2021 and 10,616,815 shares at December 31, 2020 119,442 118,713
Capital in excess of par 71,567,797 70,769,165
Accumulated other comprehensive income 7,127,003 9,880,062
Retained earnings 16,086,337 15,928,345
Total Equity 94,900,579 96,696,285
Treasury stock, at cost, 1,383,077 shares at June 30, 2021 and 1,254,492 shares at December 31, 2020 (4,935,933) (3,895,883)
Total stockholders' equity 89,964,646 92,800,402
Total liabilities and stockholders' equity $ 312,700,169 $ 317,582,267