Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

18. Selected Quarterly Financial Data (unaudited)

Interim results are not necessarily indicative of fiscal year performance because of the impact of seasonal and short-term variations. Selected quarterly financial data is summarized as follows (in thousands, except per share data).

	Total Revenues		Income  before Income Taxes		Net Income		Basic and Diluted Net Income  per Share
Year Ended December 31, 2014:
December 31, 2014	$	67,928	$	3,076	$	21,968	$	0.54
September 30, 2014		65,604		2,377		2,120		0.05
June 30, 2014		67,120		3,723		3,469		0.08
March 31, 2014		62,542		547		511		0.01
Year Ended December 31, 2013:
December 31, 2013	$	59,152	$	3,363	$	3,158	$	0.07
September 30, 2013		59,578		2,096		1,932		0.05
June 30, 2013		62,493		2,254		2,066		0.05
March 31, 2013		59,289		2,117		2,024		0.05

Income before income taxes for the quarter ended December 31, 2014 of $3.1 million included $2.6 million of favorable development in the Company’s estimate of unpaid loss and loss adjustment expenses.

Net income for the quarter ended December 31, 2014 of $22.0 million included $20.2 million in benefit for income taxes resulting from the change in the deferred tax valuation allowance.

Income before income taxes for the quarter ended December 31, 2013 of $3.4 million included $2.6 million of favorable development in the Company’s estimate of unpaid loss and loss adjustment expenses.