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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $8,753,159 at December 31, 2021 and $8,194,824 at December 31, 2020) $ 8,266,334 $ 7,368,815
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $155,808,478 at December 31, 2021 and $145,045,584 at December 31, 2020) 158,080,110 157,549,272
Equity securities, at fair value (cost of $37,470,669 at December 31, 2021 and $32,571,166 at December 31, 2020) 39,687,002 34,413,313
Other investments 7,561,415 3,518,626
Total investments 213,594,861 202,850,026
Cash and cash equivalents 24,290,598 19,463,742
Premiums receivable, net 12,318,336 11,819,639
Reinsurance receivables, net 40,292,438 45,460,729
Deferred policy acquisition costs 22,238,987 20,142,515
Intangible assets 500,000 500,000
Property and equipment, net 9,291,597 8,083,123
Deferred income taxes, net 192,253 0
Other assets 8,593,205 9,262,493
Total assets 331,312,275 317,582,267
Liabilities    
Loss and loss adjustment expense reserves 94,948,745 82,801,228
Unearned premiums 97,759,607 90,009,272
Advance premiums 2,693,466 2,660,354
Reinsurance balances payable 12,961,568 6,979,735
Deferred ceding commission revenue 9,748,508 93,519
Accounts payable, accrued expenses and other liabilities 7,704,396 8,433,233
Deferred income taxes, net 0 4,156,913
Debt, net 29,823,791 29,647,611
Total liabilities 255,640,081 224,781,865
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 11,955,660 shares at December 31, 2021 and 11,871,307 shares at December 31, 2020; outstanding 10,484,254 shares at December 31, 2021 and 10,616,815 shares at December 31, 2020 119,557 118,713
Capital in excess of par 72,467,483 70,769,165
Accumulated other comprehensive income 1,796,739 9,880,062
Retained earnings 6,855,896 15,928,345
Treasury stock, at cost, 1,471,406 shares at December 31, 2021 and 1,254,492 shares at December 31, 2020 (5,567,481) (3,895,883)
Total stockholders' equity 75,672,194 92,800,402
Total liabilities and stockholders' equity $ 331,312,275 $ 317,582,267