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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Investments:    
Fixed maturity securities-held-to-maturity, at amortized cost net of allowance for credit losses of $182 and $239 in 2023 and 2022, respectively, (fair value $473,092 and $468,144 in 2023 and 2022, respectively) $ 483,575 $ 491,688
Fixed maturity securities-available-for-sale, at fair value (amortized cost $24,309 and $19,824 in 2023 and 2022, respectively) 317,064 321,121
Equity securities, at fair value (cost $7,108 and $10,007 in 2023 and 2022, respectively) 57,147 62,058
Short-term investments   14,120
Total investments 857,786 888,987
Cash and cash equivalents 38,682 61,469
Amounts recoverable from reinsurers (net of allowance for credit losses of $360 and $372 in 2023 and 2022, respectively) 129,963 125,677
Premiums receivable (net of allowance for credit losses of $4,674 and $4,852 in 2023 and 2022, respectively) 132,861 121,713
Deferred income taxes 20,403 22,794
Accrued interest receivable 8,274 8,428
Property and equipment, net 6,349 7,225
Deferred policy acquisition costs 17,975 17,401
Federal income tax recoverable 1,781 1,453
Other assets 15,088 14,132
Total assets 1,229,162 1,269,279
Liabilities:    
Reserves for loss and loss adjustment expenses 673,994 696,037
Unearned premiums 116,585 114,976
Amounts held for others 53,694 48,811
Policyholder deposits 34,522 36,312
Insurance-related assessments 16,896 17,653
Accounts payable and other liabilities 41,020 38,058
Total liabilities 936,711 951,847
Shareholders’ equity:    
Common stock: voting-$0.01 par value authorized shares-50,000,000 in 2023 and 2022; 20,704,448 and 20,678,572 shares issued; and 19,135,008 and 19,155,873 shares outstanding in 2023 and 2022, respectively 207 207
Additional paid-in capital 222,078 220,299
Treasury stock, at cost (1,569,440 and 1,522,699 shares in 2023 and 2022, respectively) (36,929) (34,758)
Accumulated earnings 114,289 145,512
Accumulated other comprehensive loss, net (7,194) (13,828)
Total shareholders’ equity 292,451 317,432
Total liabilities and shareholders’ equity $ 1,229,162 $ 1,269,279