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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Investments:    
Fixed maturity securities—held-to-maturity, at amortized cost (fair value $620,936 and $639,309 in 2018 and 2017, respectively) $ 619,400 $ 629,668
Fixed maturity securities—available-for-sale, at fair value (cost $462,033 and $461,236 in 2018 and 2017, respectively) 459,264 465,594
Equity securities—available-for-sale, at fair value (cost $11,425 and $8,503 in 2018 and 2017, respectively) 11,425 9,282
Short-term investments 44,704 25,770
Total investments 1,134,793 1,130,314
Cash and cash equivalents 36,072 55,559
Amounts recoverable from reinsurers 94,173 90,133
Premiums receivable, net of allowance 186,798 174,234
Deferred income taxes 20,499 19,262
Accrued interest receivable 11,332 10,635
Property and equipment, net 6,774 6,128
Deferred policy acquisition costs 21,287 20,251
Federal income tax recoverable   1,761
Other assets 18,937 9,959
Total assets 1,530,665 1,518,236
Liabilities:    
Reserves for loss and loss adjustment expenses 777,298 771,845
Unearned premiums 164,972 157,270
Amounts held for others 37,343 36,908
Policyholder deposits 48,331 48,364
Insurance-related assessments 28,389 28,246
Federal income tax payable 1,387  
Accounts payable and other liabilities 37,767 37,076
Payable for investments purchased 3,110 13,104
Total liabilities 1,098,597 1,092,813
Shareholders’ equity:    
Common stock: voting—$0.01 par value authorized shares—50,000,000 in 2018 and 2017; 20,519,165 and 20,504,165 shares issued and 19,260,915 and 19,245,915 shares outstanding in 2018 and 2017, respectively 205 204
Additional paid-in capital 210,441 210,081
Treasury stock at cost (1,258,250 shares in 2018 and 2017) (22,370) (22,370)
Accumulated earnings 246,028 233,896
Accumulated other comprehensive income (loss), net (2,236) 3,612
Total shareholders’ equity 432,068 425,423
Total liabilities and shareholders’ equity $ 1,530,665 $ 1,518,236