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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
ASSETS    
Cash and cash equivalents $ 16,354 $ 12,893
Investments:    
Fixed maturities, available-for-sale, at fair value (amortized cost: $214,080 and $219,233) 236,187 232,472
Equity securities, at fair value (cost: $7,311 and $7,168) 15,965 22,922
Other invested assets (cost: $11,905 and $9,908) 11,454 9,960
Policy loans 2,018 2,007
Real estate 38 38
Investment in unconsolidated trusts 1,238 1,238
Total investments 266,900 268,637
Receivables:    
Reinsurance 27,562 32,135
Insurance premiums and other (net of allowance for doubtful accounts: $197 and $183) 23,785 13,134
Deferred income taxes, net 1,144 314
Deferred acquisition costs 39,148 38,861
Other assets 8,300 9,108
Intangibles 2,544 2,544
Total assets 385,737 377,626
LIABILITIES AND SHAREHOLDERS' EQUITY    
Future policy benefits 91,927 92,490
Unearned premiums 35,091 26,035
Losses and claims 76,498 81,448
Other policy liabilities 1,195 1,933
Total insurance reserves and policyholder funds 204,711 201,906
Accounts payable and accrued expenses 23,394 23,588
Junior subordinated debenture obligations, net 33,738 33,738
Total liabilities 261,843 259,232
Commitments and contingencies (Note 10)
Shareholders' equity:    
Preferred stock, $1 par, 4,000,000 shares authorized; Series D preferred, 55,000 shares issued and outstanding; $5,500 redemption value 55 55
Common stock, $1 par, 50,000,000 shares authorized; shares issued: 22,400,894; shares outstanding: 20,454,001 and 20,472,162 22,401 22,401
Additional paid-in capital 57,435 57,820
Retained earnings 34,266 36,020
Accumulated other comprehensive income 17,464 10,459
Unearned stock grant compensation (466) (781)
Treasury stock, at cost: 1,946,893 and 1,928,732 shares (7,261) (7,580)
Total shareholders' equity 123,894 118,394
Total liabilities and shareholders' equity $ 385,737 $ 377,626