XML 14 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues    
Gross premiums written $ 97,342 $ 95,078
Ceded premiums written (2,330) (2,391)
Net premiums written 95,012 92,687
Net premiums earned 87,310 90,912
Net investment income 7,209 6,710
Net realized losses on investments (31) (181)
Net unrealized losses on equity securities (390)  
Fee and other income 77 101
Total revenues 94,175 97,542
Expenses    
Loss and loss adjustment expenses incurred 53,162 56,216
Underwriting and certain other operating costs 7,846 8,500
Commissions 6,494 6,410
Salaries and benefits 5,926 6,312
Policyholder dividends 1,333 1,371
Total expenses 74,761 78,809
Income before income taxes 19,414 18,733
Income tax expense 3,245 5,209
Net income $ 16,169 $ 13,524
Earnings per share    
Basic $ 0.84 $ 0.71
Diluted $ 0.84 $ 0.70
Shares used in computing earnings per share    
Basic 19,187,136 19,150,400
Diluted 19,262,237 19,230,125
Cash dividends declared per common share $ 0.22 $ 0.20