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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $6,266,115 at June 30, 2023 and $6,600,388 at December 31, 2022) $ 7,305,031 $ 7,766,140
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of$156,710,463 at June 30, 2023 and $174,918,427 at December 31, 2022) 137,855,117 154,715,163
Equity securities, at fair value (cost of $17,986,783 at June 30, 2023 and $18,086,700 at December 31, 2022) 14,410,482 13,834,390
Other investments 3,549,540 2,771,652
Total investments 163,120,170 179,087,345
Cash and cash equivalents 12,286,424 11,958,228
Premiums receivable, net 12,572,834 13,880,504
Reinsurance receivables, net 76,579,488 66,465,061
Deferred policy acquisition costs 21,440,158 23,819,453
Intangible assets 500,000 500,000
Property and equipment, net 9,853,831 10,541,935
Deferred income taxes, net 11,338,476 10,331,158
Other assets 3,657,664 3,748,847
Total assets 311,349,045 320,332,531
Liabilities    
Loss and loss adjustment expense reserves 117,561,610 118,339,513
Unearned premiums 101,914,895 107,492,777
Advance premiums 6,511,181 2,839,028
Reinsurance balances payable 13,684,595 13,061,966
Deferred ceding commission revenue 9,690,160 10,619,569
Accounts payable, accrued expenses and other liabilities 4,699,562 6,651,723
Debt, net 25,201,826 25,158,523
Total liabilities 279,263,829 284,163,099
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 12,227,562 shares at June 30, 2023 and 12,171,512 shares at December 31, 2022; outstanding 10,756,156 shares at June 30, 2023 and 10,700,106 shares at December 31, 2022 122,275 121,715
Capital in excess of par 74,946,685 74,519,590
Accumulated other comprehensive loss (14,893,572) (15,958,428)
Accumulated deficit (22,522,691) (16,945,964)
Stockholders' Equity before Treasury Stock 37,652,697 41,736,913
Treasury stock, at cost, 1,471,406 shares at June 30, 2023 and December 31, 2022 (5,567,481) (5,567,481)
Total stockholders' equity 32,085,216 36,169,432
Total liabilities and stockholders' equity $ 311,349,045 $ 320,332,531