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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Investments:    
Fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of $276 and $195 in 2022 and 2021, respectively, (fair value $525,637 and $575,850 in 2022 and 2021, respectively) $ 541,297 $ 549,231
Fixed maturity securities—available-for-sale, at fair value (amortized cost $341,297, allowance for credit losses of $0 in 2022 and amortized cost $324,597, allowance for credit losses of $0 in 2021) 330,135 341,769
Equity securities, at fair value (cost $49,422 and $44,175 in 2022 and 2021, respectively) 60,485 64,140
Short-term investments 34,483 57,431
Total investments 966,400 1,012,571
Cash and cash equivalents 85,318 70,722
Amounts recoverable from reinsurers (net of allowance for credit losses of $369 and $440 in 2022 and 2021, respectively) 118,575 120,561
Premiums receivable (net of allowance for credit losses of $4,746 and $4,386 in 2022 and 2021, respectively) 143,307 135,100
Deferred income taxes 21,927 14,384
Accrued interest receivable 8,228 8,080
Property and equipment, net 6,889 6,459
Deferred policy acquisition costs 18,103 17,059
Federal income tax recoverable 289 6,414
Other assets 12,884 11,374
Total assets 1,381,920 1,402,724
Liabilities:    
Reserves for loss and loss adjustment expenses 724,891 745,278
Unearned premiums 130,224 121,092
Amounts held for others 46,112 42,915
Policyholder deposits 37,632 39,383
Insurance-related assessments 18,566 16,850
Accounts payable and other liabilities 37,868 37,883
Payable for investments purchased 1,638  
Total liabilities 996,931 1,003,401
Shareholders’ equity:    
Common stock: voting—$0.01 par value authorized shares—50,000,000 in 2022 and 2021; 20,676,474 and 20,622,304 shares issued; and 19,296,632 and 19,364,054 shares outstanding in 2022 and 2021, respectively 207 206
Additional paid-in capital 219,744 217,458
Treasury stock, at cost (1,379,842 and 1,258,250 shares in 2022 and 2021, respectively) (28,071) (22,370)
Accumulated earnings 201,983 190,492
Accumulated other comprehensive income (loss), net (8,874) 13,537
Total shareholders’ equity 384,989 399,323
Total liabilities and shareholders’ equity $ 1,381,920 $ 1,402,724