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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $6,825,609 at March 31, 2023 and $6,600,388 at December 31, 2022) $ 7,765,096 $ 7,766,140
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $172,374,518 at March 31, 2023 and $174,918,427 at December 31, 2022) 154,641,319 154,715,163
Equity securities, at fair value (cost of $18,011,146 at March 31, 2023 and $18,086,700 at December 31, 2022) 14,622,549 13,834,390
Other investments 3,135,449 2,771,652
Total investments 180,164,413 179,087,345
Cash and cash equivalents 10,500,753 11,958,228
Premiums receivable, net 13,339,037 13,880,504
Reinsurance receivables, net 78,018,606 66,465,061
Deferred policy acquisition costs 22,692,044 23,819,453
Intangible assets 500,000 500,000
Property and equipment, net 10,199,878 10,541,935
Deferred income taxes, net 11,061,418 10,331,158
Other assets 3,921,334 3,748,847
Total assets 330,397,483 320,332,531
Liabilities    
Loss and loss adjustment expense reserves 124,121,818 118,339,513
Unearned premiums 105,159,893 107,492,777
Advance premiums 5,660,391 2,839,028
Reinsurance balances payable 20,110,212 13,061,966
Deferred ceding commission revenue 10,739,429 10,619,569
Accounts payable, accrued expenses and other liabilities 6,147,717 6,651,723
Debt, net 25,176,019 25,158,523
Total liabilities 297,115,479 284,163,099
Stockholders' Equity    
Preferred stock, $0.01 par value; authorized 2,500,000 shares 0 0
Common stock, $0.01 par value; authorized 20,000,000 shares; issued 12,231,965 shares at March 31, 2023 and 12,171,512 shares at December 31, 2022; outstanding 10,760,559 shares at March 31, 2023 and 10,700,106 shares at December 31, 2022 122,320 121,715
Capital in excess of par 74,734,915 74,519,590
Accumulated other comprehensive loss (14,007,076) (15,958,428)
Accumulated deficit (22,000,674) (16,945,964)
Stockholders' Equity before Treasury Stock 38,849,485 41,736,913
Treasury stock, at cost, 1,471,406 shares at March 31, 2023 and December 31, 2022 (5,567,481) (5,567,481)
Total stockholders' equity 33,282,004 36,169,432
Total liabilities and stockholders' equity $ 330,397,483 $ 320,332,531