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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $6,043,911 at March 31, 2024 and $6,106,148 at December 31, 2023) $ 7,051,252 $ 7,052,541
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $177,344,695 at March 31, 2024 and $164,460,942 at December 31, 2023) 161,247,070 148,920,797
Equity securities, at fair value (cost of $16,119,554 at March 31, 2024 and $17,986,783 at December 31, 2023) 13,536,833 14,762,340
Other investments 4,074,176 3,897,150
Total investments 185,909,331 174,632,828
Cash and cash equivalents 3,199,300 8,976,998
Premiums receivable, net 13,902,797 13,604,808
Reinsurance receivables, net 70,723,937 75,593,912
Deferred policy acquisition costs 19,427,151 19,802,564
Intangible assets 500,000 500,000
Property and equipment, net 9,340,159 9,395,697
Deferred income taxes, net 10,290,867 10,551,819
Other assets 4,999,181 4,574,584
Total assets 318,292,723 317,633,210
Liabilities    
Loss and loss adjustment expense reserves 122,498,439 121,817,862
Unearned premiums 104,949,777 105,621,538
Advance premiums 4,580,934 3,797,590
Reinsurance balances payable 10,797,386 12,837,140
Deferred ceding commission revenue 9,290,100 9,460,865
Accounts payable, accrued expenses and other liabilities 5,168,007 4,350,546
Debt, net 25,258,273 25,243,530
Total liabilities 282,542,916 283,129,071
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 12,479,422 shares at March 31, 2024 and 12,248,313 shares at December 31, 2023; outstanding 11,008,116 shares at March 31, 2024 and 10,776,907 shares at December 31, 2023 124,794 122,483
Capital in excess of par 75,595,096 75,338,010
Accumulated other comprehensive loss (12,714,971) (12,274,563)
Accumulated deficit (21,687,631) (23,114,310)
Stockholders equity before treasury stock 41,317,288 40,071,620
Treasury stock, at cost, 1,471,406 shares at March 31, 2024 and December 31, 2023 (5,567,481) (5,567,481)
Total stockholders' equity 35,749,807 34,504,139
Total liabilities and stockholders' equity $ 318,292,723 $ 317,633,210