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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Investments:    
Fixed maturity securities-held-to-maturity, at amortized cost net of allowance for credit losses of $204 and $239 in 2023 and 2022, respectively, (fair value $455,613 and $468,144 in 2023 and 2022, respectively) $ 476,401 $ 491,688
Available-for-sale fixed maturity, Fair Value 340,384 321,121
Equity securities, Fair Value 65,405 62,058
Short-term investments 46,540 14,120
Total investments 928,730 888,987
Cash and cash equivalents 33,922 61,469
Amounts recoverable from reinsurers (net of allowance for credit losses of $338 and $372 in 2023 and 2022, respectively) 122,721 125,677
Premiums receivable (net of allowance for credit losses of $4,787 and $4,852 in 2023 and 2022, respectively) 141,943 121,713
Deferred income taxes 23,437 22,794
Accrued interest receivable 8,387 8,428
Property and equipment, net 6,561 7,225
Deferred policy acquisition costs 18,927 17,401
Federal income tax recoverable   1,453
Other assets 14,287 14,132
Total assets 1,298,915 1,269,279
Liabilities:    
Reserves for loss and loss adjustment expenses 684,613 696,037
Unearned premiums 126,244 114,976
Amounts held for others 52,916 48,811
Policyholder deposits 34,957 36,312
Insurance-related assessments 18,015 17,653
Federal income tax payable 2,301  
Accounts payable and other liabilities 37,967 38,058
Payable for investments purchased 1,335  
Total liabilities 958,348 951,847
Shareholders’ equity:    
Common stock: voting-$0.01 par value authorized shares-50,000,000 in 2023 and 2022; 20,702,713 and 20,678,572 shares issued; and 19,180,014 and 19,155,873 shares outstanding in 2023 and 2022, respectively 207 207
Additional paid-in capital 221,759 220,299
Treasury stock, at cost (1,522,699 shares in 2023 and 2022) (34,758) (34,758)
Accumulated earnings 165,459 145,512
Accumulated other comprehensive loss, net (12,100) (13,828)
Total shareholders’ equity 340,567 317,432
Total liabilities and shareholders’ equity $ 1,298,915 $ 1,269,279