CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Investments:
Debt Securities, Available-for-sale	$ 555,961	$ 526,265
Debt securities, held-to-maturity, at amortized cost	0	4,337
Equity securities, at fair value	18,040	20,039
Total investments	574,001	550,641
Cash and cash equivalents	163,910	133,361
Prepaid reinsurance premiums	81,564	145,659
Premiums Receivable, Net	49,632	41,422
Reinsurance recoverable, net of allowance of $34 and $0, respectively	228,709	209,615
Deferred acquisition costs and value of business acquired, net	63,022	56,136
Current and deferred income taxes, net	11,408	2,552
Goodwill	10,997	10,997
Other assets	31,543	28,633
Total assets	1,214,786	1,179,016
Liabilities
Loss and loss adjustment expense reserves	387,723	324,362
Unearned premiums	383,739	360,870
Reinsurance payable	67,876	102,467
Long-term debt, net of deferred financing costs of $1,397 and $1,478, respectively	98,603	98,522
Deferred revenue	6,984	6,856
Other liabilities	48,181	37,246
Total liabilities	993,106	930,323
Commitments and contingencies (see Note 11)
Shareholders' Equity
Preferred stock, $0.01 par value: 1,000,000 shares authorized	0	0
Common stock, $0.01 par value: 25,000,000 shares authorized; 13,703,175 and 14,414,821 issued and outstanding, respectively	137	144
Additional paid-in capital	168,485	167,677
Accumulated other comprehensive income (loss)	14,390	10,281
Retained earnings	38,668	70,591
Total shareholders’ equity	221,680	248,693
Total liabilities and shareholders' equity	$ 1,214,786	$ 1,179,016