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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Investments:    
Fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of $157 and $274 in 2021 and 2020, respectively, (fair value $589,601 and $621,654 in 2021 and 2020, respectively) $ 558,431 $ 585,130
Fixed maturity securities—available-for-sale, at fair value (amortized cost $348,567, allowance for credit losses of $0 in 2021 and amortized cost $387,665, allowance for credit losses of $0 in 2020) 369,890 414,279
Equity securities, at fair value (cost $38,928 and $35,787 in 2021 and 2020, respectively) 55,375 43,437
Short-term investments 129,109 45,898
Total investments 1,112,805 1,088,744
Cash and cash equivalents 57,541 61,757
Amounts recoverable from reinsurers (net of allowance for credit losses of $449 and $452 in 2021 and 2020, respectively) 110,912 105,803
Premiums receivable (net of allowance for credit losses of $4,655 and $4,791 in 2021 and 2020, respectively) 165,158 156,760
Deferred income taxes 14,219 13,665
Accrued interest receivable 9,355 9,274
Property and equipment, net 6,259 6,182
Deferred policy acquisition costs 18,857 17,810
Other assets 11,157 10,860
Total assets 1,506,263 1,470,855
Liabilities:    
Reserves for loss and loss adjustment expenses 744,969 760,561
Unearned premiums 138,861 129,260
Amounts held for others 46,883 43,402
Policyholder deposits 40,426 41,524
Insurance-related assessments 18,688 17,995
Federal income tax payable 2,244 417
Accounts payable and other liabilities 40,833 38,880
Payable for investments purchased 4,993  
Total liabilities 1,037,897 1,032,039
Shareholders’ equity:    
Common stock: voting—$0.01 par value authorized shares—50,000,000 in 2021 and 2020; 20,622,304 and 20,589,309 shares issued; and 19,364,054 and 19,331,059 shares outstanding in 2021 and 2020, respectively 206 206
Additional paid-in capital 217,165 215,316
Treasury stock, at cost (1,258,250 shares in 2021 and 2020) (22,370) (22,370)
Accumulated earnings 256,503 224,645
Accumulated other comprehensive income, net 16,862 21,019
Total shareholders’ equity 468,366 438,816
Total liabilities and shareholders’ equity $ 1,506,263 $ 1,470,855