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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Net premiums earned $ 267,125 $ 271,698 $ 275,993
Net investment income 31,339 27,223 25,435
Net realized gains on investments 6,579 3,440 1,695
Net unrealized gains (losses) on equity securities 1,228 (8,092) 12,315
Fee and other income 582 468 496
Total revenues 306,853 294,737 315,934
Expenses      
Loss and loss adjustment expenses incurred 148,263 152,316 160,798
Underwriting and certain other operating costs 27,508 24,039 24,813
Commissions 23,446 21,483 21,284
Salaries and benefits 27,359 26,510 25,954
Policyholder dividends 2,957 2,699 3,715
Provision for investment related credit loss expense (benefit) (57) 44 (79)
Total expenses 229,476 227,091 236,485
Income before income taxes 77,377 67,646 79,449
Income tax expense 15,269 12,044 13,693
Net income $ 62,108 $ 55,602 $ 65,756
Earnings per share      
Basic $ 3.24 $ 2.89 $ 3.40
Diluted $ 3.23 $ 2.88 $ 3.39
Shares used in computing earnings per share      
Basic 19,149,080 19,233,241 19,332,391
Diluted 19,226,021 19,321,717 19,408,619
Extraordinary cash dividends declared per common share $ 3.50 $ 4.00 $ 4.00
Cash dividends declared per common share $ 1.36 $ 1.24 $ 1.16