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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income $ 62,108 $ 55,602 $ 65,756
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 1,427 1,309 1,017
Net amortization of investments 3,025 6,734 8,868
Change in investment related allowance for credit losses (57) 44 (79)
Deferred income taxes 628 (1,136) 1,270
Net realized gains on investments (6,579) (3,440) (1,695)
Net unrealized (gains) losses on equity securities (1,228) 8,092 (12,315)
Net realized (gains) losses on disposal of assets 2 9 (21)
Share-based compensation 1,557 2,479 2,320
Changes in operating assets and liabilities:      
Premiums receivable, net (8,485) 13,387 21,660
Accrued interest receivable 154 (348) 1,194
Deferred policy acquisition costs (574) (342) 751
Amounts held by others     71
Other assets (1,033) (2,840) (1,016)
Reserves for loss and loss adjustment expenses (22,043) (49,241) (15,283)
Unearned premiums 1,609 (6,116) (8,168)
Reinsurance balances (3,740) (4,754) (14,648)
Amounts held for others and policyholder deposits 3,093 2,825 (2,628)
Federal income taxes recoverable (328) 4,961 (6,831)
Accounts payable and other liabilities 306 969 (2,244)
Net cash provided by operating activities 29,842 28,194 37,979
Investing activities      
Purchases of investments held-to-maturity (42,190) (32,152) (43,307)
Purchases of investments available-for-sale (45,141) (106,049) (51,617)
Purchases of equity securities   (11,147) (8,388)
Purchases of short-term investments (46,347) (66,132) (167,870)
Proceeds from maturities of investments held-to-maturity 47,151 85,006 74,253
Proceeds from sales and maturities of investments available-for-sale 57,153 90,675 114,974
Proceeds from sales of equity securities 12,688 8,487  
Proceeds from sales and maturities of short-term investments 61,123 108,827 154,187
Purchases of property and equipment (553) (2,089) (1,296)
Proceeds from sales of property and equipment     23
Net cash provided by investing activities 43,884 75,426 70,959
Financing activities      
Finance lease purchases (91) (58) (44)
Share-based compensation related tax withholding (944)    
Purchase of treasury stock (2,171) (12,388)  
Dividends to shareholders (93,307) (100,427) (99,929)
Net cash used in financing activities (96,513) (112,873) (99,973)
Change in cash and cash equivalents (22,787) (9,253) 8,965
Cash and cash equivalents at beginning of year 61,469 70,722 61,757
Cash and cash equivalents at end of year 38,682 61,469 70,722
Supplemental disclosure of cash flow information      
Income taxes paid $ 13,950 $ 7,791 $ 18,198