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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Gross premiums written $ 106,022 $ 103,820 $ 206,811 $ 209,523
Ceded premiums written (2,549) (3,493) (5,085) (6,832)
Net premiums written 103,473 100,327 201,726 202,691
Net premiums earned 95,569 93,516 190,356 182,749
Net investment income 6,890 6,845 13,723 13,553
Net realized gains/(losses) on investments (2,617) 232 (2,558) 333
Fee and other income 94 31 203 162
Total revenues 99,936 100,624 201,724 196,797
Expenses        
Loss and loss adjustment expenses incurred 57,304 62,463 117,310 123,748
Underwriting and certain other operating costs 9,278 8,839 16,750 16,802
Commissions 6,905 6,987 13,910 13,674
Salaries and benefits 5,899 5,186 11,792 11,907
Policyholder dividends 438 88 653 201
Total expenses 79,824 83,563 160,415 166,332
Income before income taxes 20,112 17,061 41,309 30,465
Income tax expense 5,793 4,288 11,860 7,143
Net income 14,319 12,773 29,449 23,322
Net income available to common shareholders $ 14,319 $ 12,773 $ 29,449 $ 23,322
Earnings per share        
Basic $ 0.76 $ 0.69 $ 1.56 $ 1.26
Diluted $ 0.75 $ 0.68 $ 1.54 $ 1.23
Shares used in computing earnings per share        
Basic 18,917,229 18,600,186 18,882,693 18,566,235
Diluted 19,080,065 18,894,885 19,069,949 18,885,384
Extraordinary cash dividends declared per common share       $ 0.50
Cash dividends declared per common share $ 0.15 $ 0.12 $ 0.30 $ 0.24