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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $9,699,504 at September 30, 2021 and $8,194,824 at December 31, 2020) $ 9,166,983 $ 7,368,815
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $145,452,017 at September 30, 2021 and $145,045,584 at December 31, 2020) 153,289,242 157,549,272
Equity securities, at fair value (cost of $37,545,241 at September 30, 2021 and $32,571,166 at December 31, 2020) 40,060,872 34,413,313
Other investments 7,379,111 3,518,626
Total investments 209,896,208 202,850,026
Cash and cash equivalents 36,108,088 19,463,742
Premiums receivable, net 11,309,319 11,819,639
Reinsurance receivables, net 22,962,014 45,460,729
Deferred policy acquisition costs 21,261,916 20,142,515
Intangible assets 500,000 500,000
Property and equipment, net 8,526,162 8,083,123
Other assets 9,662,834 9,262,493
Total assets 320,226,541 317,582,267
Liabilities    
Loss and loss adjustment expense reserves 101,044,118 82,801,228
Unearned premiums 92,653,778 90,009,272
Advance premiums 5,325,514 2,660,354
Reinsurance balances payable 4,266,092 6,979,735
Deferred ceding commission revenue 87,846 93,519
Accounts payable, accrued expenses and other liabilities 8,700,342 8,433,233
Deferred income taxes, net 537,848 4,156,913
Long-term debt, net 29,779,746 29,647,611
Total liabilities 242,395,284 224,781,865
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 11,947,619 shares at September 30, 2021 and 11,871,307 shares at December 31, 2020; outstanding 10,476,213 shares at September 30, 2021 and 10,616,815 shares at December 31, 2020 119,476 118,713
Capital in excess of par 72,025,035 70,769,165
Accumulated other comprehensive income 6,206,680 9,880,062
Retained earnings 5,047,547 15,928,345
Total Equity 83,398,738 96,696,285
Treasury stock, at cost, 1,471,406 shares at September 30, 2021 and 1,196,109 shares at December 31, 2020 (5,567,481) (3,895,883)
Total stockholders' equity 77,831,257 92,800,402
Total liabilities and stockholders' equity $ 320,226,541 $ 317,582,267