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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $6,611,858 at September 30, 2022 and $8,753,159 at December 31, 2021) $ 7,767,183 $ 8,266,334
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $165,534,467 at September 30, 2022 and $155,808,478 at December 31, 2021) 145,305,707 158,080,110
Equity securities, at fair value (cost of $26,776,016 at September 30, 2022 and $37,470,669 at December 31, 2021) 21,468,446 39,687,002
Other investments 2,576,272 7,561,415
Total investments 177,117,608 213,594,861
Cash and cash equivalents 15,111,206 24,290,598
Premiums receivable, net 12,891,464 12,318,336
Reinsurance receivables, net 59,365,937 40,292,438
Deferred policy acquisition costs 23,205,684 22,238,987
Intangible assets 500,000 500,000
Property and equipment, net 10,161,507 9,291,597
Deferred income taxes, net 8,856,948 192,253
Other assets 8,497,592 8,593,205
Total assets 315,707,946 331,312,275
Liabilities    
Loss and loss adjustment expense reserves 106,928,898 94,948,745
Unearned premiums 103,789,380 97,759,607
Advance premiums 6,627,275 2,693,466
Reinsurance balances payable 11,475,247 12,961,568
Deferred ceding commission revenue 10,320,370 9,748,508
Accounts payable, accrued expenses and other liabilities 7,740,737 7,704,396
Debt, net 29,955,926 29,823,791
Total liabilities 276,837,833 255,640,081
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 12,117,081 shares at September 30, 2022 and 11,955,660 shares at December 31, 2021; outstanding 10,645,675 shares at September 30, 2022 and 10,484,254 shares at December 31, 2021 121,171 119,557
Capital in excess of par 73,290,935 72,467,483
Accumulated other comprehensive (loss) income (15,978,570) 1,796,739
(Accumulated deficit) retained earnings (12,995,942) 6,855,896
Total1 44,437,594 81,239,675
Treasury stock, at cost, 1,471,406 shares at September 30, 2022 and December 31, 2021 (5,567,481) (5,567,481)
Total stockholders' equity 38,870,113 75,672,194
Total liabilities and stockholders' equity $ 315,707,946 $ 331,312,275