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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows From Operating Activities    
Net income $ 28,349 $ 18,702
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Net accretion of bond premium 2,906 3,586
Depreciation and amortization 1,668 1,628
Stock-based compensation expense 979 1,009
Net investment (gains) losses 465 (24,508)
Net cash flows from equity and trading investments 18,387 38,737
Deferred income tax benefit (1,234) 4,002
Changes in:    
Accrued investment income (539) (47)
Premiums receivable (18,119) (11,097)
Deferred policy acquisition costs (4,316) (861)
Reinsurance receivables (7,173) (3,001)
Prepaid reinsurance premiums 464 (448)
Income taxes receivable 17,704 (14)
Other assets (14,768) (7,109)
Losses and loss settlement expenses (26,274) 34,894
Unearned premiums 6,318 (3,315)
Accrued expenses and other liabilities (3,469) (26,116)
Other, net 247 (6,532)
Cash from operating activities (26,754) 808
Net cash provided by operating activities 1,595 19,510
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 0 99,682
Proceeds from call and maturity of available-for-sale investments 65,407 72,617
Proceeds from sale of other investments 1,581 621
Purchase of investments available-for-sale (82,942) (198,331)
Purchase of other investments (1,597) (2,423)
Net purchases and sales of property and equipment (2,510) (3,848)
Net cash used in investing activities (20,061) (31,682)
Cash Flows From Financing Activities    
Issuance of common stock (349) (487)
Repurchase of common stock 0 (7)
Payment of cash dividends (3,767) (3,768)
Net cash used in financing activities (4,116) (4,262)
Net Change in Cash and Cash Equivalents (22,582) (16,434)
Cash and Cash Equivalents at Beginning of Period 132,104 87,948
Cash and Cash Equivalents at End of Period $ 109,522 $ 71,514