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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 21,189 $ 28,301
Investments:    
Fixed maturities, available-for-sale, at fair value (amortized cost: $241,315 and $238,626; no allowance for credit losses) 218,420 218,219
Equity securities, at fair value (cost: $4,940 and $4,936) 9,303 9,413
Other invested assets (cost: $6,982 and $6,982) 6,278 6,381
Policy loans 1,810 1,778
Real estate 38 38
Investment in unconsolidated trusts 1,238 1,238
Total investments 237,087 237,067
Receivables:    
Reinsurance (net of allowance for expected credit losses of $56 and $61) 20,935 21,103
Insurance premiums and other (net of allowance for expected credit losses of $216 and $217) 14,696 23,690
Deferred income taxes, net 16,712 15,682
Deferred acquisition costs 43,167 43,850
Other assets 9,421 9,028
Intangibles 2,544 2,544
Total assets 365,751 381,265
Insurance reserves and policyholder funds:    
Future policy benefits 93,680 92,495
Unearned premiums 20,723 31,317
Losses and claims 88,449 87,478
Other policy liabilities 970 1,132
Total insurance reserves and policyholder funds 203,822 212,422
Accounts payable and accrued expenses 21,364 24,811
Revolving credit facility 4,024 3,019
Junior subordinated debenture obligations, net 33,738 33,738
Total liabilities 262,948 273,990
Commitments and contingencies (Note 12)
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: 20,399,758 and 20,402,288 22,401 22,401
Additional paid-in capital 57,425 57,425
Retained earnings 48,425 50,929
Accumulated other comprehensive loss (18,087) (16,121)
Unearned stock grant compensation (8) (13)
Treasury stock, at cost: 2,001,136 and 1,998,606 shares (7,408) (7,401)
Total shareholders' equity 102,803 107,275
Total liabilities and shareholders' equity $ 365,751 $ 381,265