XML 18 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Mar. 01, 2017
Nov. 30, 2017
Sep. 30, 2017
Jun. 30, 2017
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Jun. 30, 2017
Sep. 30, 2017
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenue:                                  
Net premiums earned         $ 87,503 $ 80,764 $ 83,554 $ 81,660 $ 76,922 $ 69,405 $ 60,045 $ 54,997 $ 165,214 $ 245,978 $ 333,481 $ 261,369 $ 213,020
Net investment income           2,603 2,560 2,318         4,878 7,481 10,254 9,063 7,226
Net realized investment gains           6,101 2,648 (105)         2,543 8,644 8,548 3,045 3,616
Direct written policy fees           4,098 4,807 4,712         9,519 13,617 17,173 16,619 9,740
Other income           5,131 4,590 4,469         9,059 14,190 22,206 17,429 9,869
Total revenue         101,752 98,697 98,159 93,054 89,971 81,758 70,786 65,010 191,213 289,910 391,662 307,525 243,471
Costs and expenses:                                  
Losses and loss adjustment expenses           75,367 56,417 56,899         113,316 188,683 247,557 197,810 112,710
Commissions and other underwriting expenses           28,386 30,929 27,568         58,497 86,883 114,867 90,378 52,862
General and administrative expenses           5,042 5,076 4,619         9,695 14,737 19,963 17,186 14,698
Interest expense           81 82 84         166 247 348 348 256
Total costs and expenses         92,185 108,876 92,504 89,170 103,948 78,914 71,090 51,770 181,674 290,550 382,735 305,722 180,526
Income before income taxes           (10,179) 5,655 3,884         9,539 (640) 8,927 1,803 62,945
Income taxes           (3,781) 1,988 1,435         3,423 (358) 3,585 542 24,089
Net income           (6,398) 3,667 2,449         6,116 (282) 5,342 1,261 38,856
Net (loss) income attributable to non-controlling interest           (1,674) (328) 27         (301) (1,975) (2,647) 246 (445)
Net income attributable to Federated National Holding Company shareholders         $ 6,296 $ (4,724) $ 3,995 $ 2,422 $ (8,793) $ 2,099 $ (405) $ 8,114 $ 6,417 $ 1,693 $ 7,989 $ 1,015 $ 39,301
Net income per share attributable to Federated National Holding Company shareholders:                                  
Basic (in dollars per share)         $ 0.48 $ (0.36) $ 0.30 $ 0.18 $ (0.65) $ 0.15 $ (0.03) $ 0.59 $ 0.48 $ 0.13 $ 0.61 $ 0.07 $ 2.86
Diluted (in dollars per share)           $ (0.36) $ 0.30 $ 0.18         $ 0.48 $ 0.13 $ 0.60 $ 0.07 $ 2.81
Weighted average number of shares of common stock outstanding:                                  
Basic (in shares)           13,135 13,171 13,432         13,305 13,211 13,170 13,758 13,729
Diluted (in shares)           13,135 13,256 13,559         13,405 13,302 13,250 13,922 13,997
Dividends declared per share of common stock (in dollars per share) $ 0.08 $ 0.08 $ 0.08 $ 0.08   $ 0.08 $ 0.08 $ 0.08         $ 0.16 $ 0.24 $ 0.32 $ 0.27 $ 0.18