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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities    
Net income $ 694,000 $ 28,349,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Net accretion of bond premium 1,797,000 2,906,000
Depreciation and amortization 2,646,000 1,668,000
Stock-based compensation expense 1,076,000 979,000
Net investment (gains) losses 1,559,000 465,000
Net cash flows from equity and trading investments 8,523,000 18,387,000
Deferred income tax expense (benefit) (2,182,000) (1,234,000)
Changes in:    
Accrued investment income (916,000) (539,000)
Premiums receivable (32,661,000) (18,119,000)
Deferred policy acquisition costs (3,264,000) (4,316,000)
Reinsurance receivables 8,528,000 (7,173,000)
Prepaid reinsurance premiums 731,000 464,000
Income taxes receivable 1,474,000 17,704,000
Other assets (109,000) (14,768,000)
Losses and loss settlement expenses 2,117,000 (26,274,000)
Unearned premiums 16,410,000 6,318,000
Accrued expenses and other liabilities (14,859,000) (3,469,000)
Other, net 1,650,000 247,000
Cash from operating activities (7,480,000) (26,754,000)
Net cash provided by (used in) operating activities (6,786,000) 1,595,000
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 9,868,000 0
Proceeds from call and maturity of available-for-sale investments 20,424,000 65,407,000
Proceeds from sale of other investments 972,000 1,581,000
Purchase of investments in mortgage loans (128,000) 0
Purchase of investments available-for-sale (53,832,000) (82,942,000)
Purchase of other investments (7,190,000) (1,597,000)
Net purchases and sales of property and equipment (2,615,000) (2,510,000)
Net cash provided by (used in) investing activities (32,501,000) (20,061,000)
Cash Flows From Financing Activities    
Issuance of common stock (96,000) (349,000)
Payment of cash dividends (4,037,000) (3,767,000)
Net cash provided by (used in) financing activities (4,133,000) (4,116,000)
Net Change in Cash and Cash Equivalents (43,420,000) (22,582,000)
Cash and Cash Equivalents at Beginning of Period 96,650,000 132,104,000
Cash and Cash Equivalents at End of Period 53,230,000 109,522,000
Supplemental Disclosures of Cash Flow Information    
Income taxes paid 12,000 0
Interest paid $ 797,000 $ 797,000