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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $5,965,254 at June 30, 2024 and $6,106,148 at December 31, 2023) $ 7,049,978 $ 7,052,541
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $176,930,446 at June 30, 2024 and $164,460,942 at December 31, 2023) 160,947,267 148,920,797
Equity securities, at fair value (cost of $14,029,806 at June 30, 2024 and $17,986,783 at December 31, 2023) 11,428,238 14,762,340
Other investments 4,192,837 3,897,150
Total investments 183,618,320 174,632,828
Cash and cash equivalents 12,170,993 8,976,998
Premiums receivable, net 15,176,140 13,604,808
Reinsurance receivables, net 66,315,422 75,593,912
Deferred policy acquisition costs 19,574,764 19,802,564
Intangible assets 500,000 500,000
Property and equipment, net 9,217,729 9,395,697
Deferred income taxes, net 9,061,591 10,551,819
Other assets 4,142,798 4,574,584
Total assets 319,777,757 317,633,210
Liabilities    
Loss and loss adjustment expense reserves 116,577,490 121,817,862
Unearned premiums 107,434,679 105,621,538
Advance premiums 4,955,431 3,797,590
Reinsurance balances payable 10,481,596 12,837,140
Deferred ceding commission revenue 9,277,082 9,460,865
Accounts payable, accrued expenses and other liabilities 4,979,841 4,350,546
Debt, net 25,268,864 25,243,530
Total liabilities 278,974,983 283,129,071
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 12,536,129 shares at June 30, 2024 and 12,248,313 shares at December 31, 2023; outstanding 11,064,723 shares at June 30, 2024 and 10,776,907 shares at December 31, 2023 125,361 122,483
Capital in excess of par 76,042,147 75,338,010
Accumulated other comprehensive loss (12,624,559) (12,274,563)
Accumulated deficit (17,172,694) (23,114,310)
Stockholders equity before treasury stock 46,370,255 40,071,620
Treasury stock, at cost, 1,471,406 shares at June 30, 2024 and December 31, 2023 (5,567,481) (5,567,481)
Total stockholders' equity 40,802,774 34,504,139
Total liabilities and stockholders' equity $ 319,777,757 $ 317,633,210