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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Gross premiums written $ 93,702 $ 87,039 $ 191,044 $ 182,117
Ceded premiums written (2,369) (2,198) (4,699) (4,589)
Net premiums written 91,333 84,841 186,345 177,528
Net premiums earned 88,995 82,749 176,305 173,661
Net investment income 7,303 7,471 14,512 14,181
Net realized losses on investments (1,111) (388) (1,142) (569)
Net unrealized gains (losses) on equity securities 76   (314)  
Fee and other income 117 93 194 194
Total revenues 95,380 89,925 189,555 187,467
Expenses        
Loss and loss adjustment expenses incurred 52,076 46,428 105,238 102,644
Underwriting and certain other operating costs 7,985 7,645 15,831 16,145
Commissions 6,616 5,984 13,110 12,394
Salaries and benefits 6,681 6,554 12,607 12,866
Policyholder dividends 1,092 1,163 2,425 2,534
Total expenses 74,450 67,774 149,211 146,583
Income before income taxes 20,930 22,151 40,344 40,884
Income tax expense 3,974 6,670 7,219 11,879
Net income $ 16,956 $ 15,481 $ 33,125 $ 29,005
Earnings per share        
Basic $ 0.88 $ 0.81 $ 1.73 $ 1.51
Diluted $ 0.88 $ 0.81 $ 1.72 $ 1.51
Shares used in computing earnings per share        
Basic 19,208,601 19,162,049 19,197,925 19,156,250
Diluted 19,266,735 19,227,960 19,275,883 19,227,997
Cash dividends declared per common share $ 0.22 $ 0.20 $ 0.44 $ 0.40