XML 15 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Premiums earned $ 69,174,000 $ 76,740,000 $ 212,446,000 $ 233,997,000
Commission and fee income 15,551,000 19,291,000 49,603,000 58,055,000
Investment income 1,259,000 1,187,000 3,415,000 3,795,000
Gain on sale of foreclosed real estate       1,237,000
Net realized gains on investments, available-for-sale   4,897,000   4,733,000
Total revenues 85,984,000 102,115,000 265,464,000 301,817,000
Costs and expenses:        
Losses and loss adjustment expenses 53,077,000 71,079,000 172,163,000 245,262,000
Insurance operating expenses 27,326,000 28,940,000 83,261,000 88,901,000
Other operating expenses 284,000 369,000 822,000 932,000
Stock-based compensation 87,000 59,000 200,000 164,000
Depreciation 517,000 667,000 1,603,000 1,934,000
Amortization of identifiable intangibles assets 196,000 240,000 594,000 717,000
Interest expense 1,146,000 1,088,000 3,374,000 3,213,000
Total costs and expenses 82,633,000 102,442,000 262,017,000 341,123,000
Income (loss) before income taxes 3,351,000 (327,000) 3,447,000 (39,306,000)
Provision (benefit) for income taxes 1,353,000 6,000 1,622,000 (13,571,000)
Net income (loss) $ 1,998,000 $ (333,000) $ 1,825,000 $ (25,735,000)
Net income (loss) per share:        
Basic $ 0.05 $ (0.01) $ 0.04 $ (0.63)
Diluted $ 0.05 $ (0.01) $ 0.04 $ (0.63)
Number of shares used to calculate net income (loss) per share:        
Basic 41,200 41,096 41,174 41,074
Diluted 41,233 41,096 41,237 41,074
Reconciliation of net income (loss) to other comprehensive income (loss):        
Net income (loss) $ 1,998,000 $ (333,000) $ 1,825,000 $ (25,735,000)
Net unrealized change in investments, net of tax of $132, $4, $789 and $1,621, respectively 305,000 7,000 1,463,000 3,009,000
Reclassification of net realized gains on investments, available-for-sale, included in net income (loss), net of tax of $(1,712) and $(1,661), respectively, in 2016   (3,180,000)   (3,084,000)
Comprehensive income (loss) $ 2,303,000 (3,506,000) 3,288,000 (25,810,000)
Detail of net realized gains on investments, available-for-sale:        
Net realized gains on sales and redemptions   4,897,000   4,880,000
Other-than-temporary impairment charges     $ 0 (147,000)
Net realized gains on investments, available-for-sale   $ 4,897,000   $ 4,733,000