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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Net premiums earned $ 332,888 $ 350,326 $ 346,156
Net investment income 32,483 30,452 29,281
Net realized losses on investments (80) (1,536) (647)
Net unrealized gains (losses) on equity securities 4,758 (2,088)  
Fee and other income 321 599 418
Total revenues 370,370 377,753 375,208
Expenses      
Loss and loss adjustment expenses incurred 176,342 204,891 209,324
Underwriting and certain other operating costs 22,221 28,981 28,333
Commissions 25,010 26,160 24,812
Salaries and benefits 27,120 25,992 25,631
Policyholder dividends 4,160 4,148 4,868
Total expenses 254,853 290,172 292,968
Income before income taxes 115,517 87,581 82,240
Income tax expense 22,827 15,949 36,009
Net income $ 92,690 $ 71,632 $ 46,231
Earnings per share      
Basic $ 4.82 $ 3.73 $ 2.41
Diluted $ 4.80 $ 3.71 $ 2.40
Shares used in computing earnings per share      
Basic 19,248,657 19,208,978 19,165,489
Diluted 19,329,238 19,293,082 19,245,866
Extraordinary cash dividends declared per common share $ 3.50 $ 3.50 $ 3.50
Cash dividends declared per common share $ 1.00 $ 0.88 $ 0.80