Note 19 - Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

(in thousands)	September 30, 2021
	Fair Value Measurements at the End of the Reporting Period Using
			Quoted Prices in		Significant		Significant
			Active Markets for		Other Observable		Unobservable
			Identical Assets		Inputs		Inputs		Measured at
	Total		(Level 1)		(Level 2)		(Level 3)		Net Asset Value
Recurring fair value measurements:
Assets:
Fixed maturities:
U.S. government, government agencies and authorities	$	15,247	$	—	$	15,247	$	—	$	—
States, municipalities and political subdivisions		1,584		—		1,584		—		—
Mortgage-backed		8,150		—		8,150		—		—
Asset-backed		253		—		253		—		—
Corporate		9,105		—		9,105		—		—
Total fixed maturities		34,339		—		34,339		—		—
Equity investments:
Common stock		187		187		—		—		—
Warrants		—		—		—		—		—
Total equity investments		187		187		—		—		—
Limited liability investments, at fair value		18,180		—		—		3,744		14,436
Real estate investments		10,662		—		—		10,662		—
Total assets	$	63,368	$	187	$	34,339	$	14,406	$	14,436
Liabilities:
Subordinated debt	$	59,601	$	—	$	59,601	$	—	$	—
Stock-based compensation liabilities		1,306		—		—		1,306		—
Derivative contract - interest rate swap		65		—		65		—		—
Total liabilities	$	60,972	$	—	$	59,666	$	1,306	$	—

(in thousands)	December 31, 2020
	Fair Value Measurements at the End of the Reporting Period Using
			Quoted Prices in		Significant		Significant
			Active Markets for		Other Observable		Unobservable
			Identical Assets		Inputs		Inputs		Measured at
	Total		(Level 1)		(Level 2)		(Level 3)		Net Asset Value
Recurring fair value measurements:
Assets:
Fixed maturities:
U.S. government, government agencies and authorities	$	10,104	$	—	$	10,104	$	—	$	—
States municipalities and political subdivisions		1,454		—		1,454		—		—
Mortgage-backed		5,394		—		5,394		—		—
Corporate		3,764		—		3,764		—		—
Total fixed maturities		20,716		—		20,716		—		—
Equity investments:
Common stock		155		155		—		—		—
Warrants		289		17		272		—		—
Total equity investments		444		172		272		—		—
Limited liability investments, at fair value		32,811		—		—		3,263		29,548
Real estate investments		10,662		—		—		10,662		—
Total assets	$	64,633	$	172	$	20,988	$	13,925	$	29,548
Liabilities:
Subordinated debt	$	50,928	$	—	$	50,928	$	—	$	—
Stock-based compensation liabilities		443		—		—		443		—
Total liabilities	$	51,371	$	—	$	50,928	$	443	$	—

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

(in thousands)	Three months ended September 30,						Nine months ended September 30,
	2021			2020			2021			2020
Assets:
Limited liability investments, at fair value:
Beginning balance	$	3,302		$	4,290		$	3,263		$	4,392
Distributions received		(80	)		(32	)		(313	)		(109	)
Realized gains included in net (loss) income		80			12			290			98
Change in fair value of limited liability investments, at fair value included in net (loss) income		442			(340	)		504			(451	)
Ending balance	$	3,744		$	3,930		$	3,744		$	3,930
Unrealized gains on limited liability investments, at fair value held at end of period:
Included in net (loss) income	$	442		$	(340	)	$	504		$	(451	)
Included in other comprehensive (loss) income	$	—		$	—		$	—		$	—
Real estate investments:
Beginning balance	$	10,662		$	10,662		$	10,662		$	10,662
Change in fair value of real estate investments included in net (loss) income		—			—			—			—
Ending balance	$	10,662		$	10,662		$	10,662		$	10,662
Unrealized gains recognized on real estate investments held at end of period:
Included in net (loss) income		—			—			—			—
Included in other comprehensive (loss) income		—			—			—			—
Ending balance - assets	$	14,406		$	14,592		$	14,406		$	14,592
Liabilities:
Warrant liability:
Beginning balance	$	—		$	259		$	—		$	249
Change in fair value of warrant liability included in net (loss) income		—			(66	)		—			(56	)
Ending balance	$	—		$	193		$	—		$	193
Unrealized gains recognized on warrant liability held at end of period:
Included in net (loss) income	$	—		$	(66	)	$	—		$	(56	)
Included in other comprehensive (loss) income	$	—		$	—		$	—		$	—
Stock-based compensation liabilities:
Beginning balance	$	1,134		$	—		$	443		$	—
Change in fair value of stock-based compensation liabilities included in net (loss) income		172			—			863			—
Ending balance	$	1,306		$	—		$	1,306		$	—
Ending balance - liabilities	$	1,306		$	193		$	1,306		$	193

Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block]

	Fair Value				Redemption
Category	(in thousands)		Unfunded Commitments	Redemption Frequency	Notice Period
Limited liability investments, at fair value	$	14,436	n/a	n/a	n/a

	Fair Value				Redemption
Category	(in thousands)		Unfunded Commitments	Redemption Frequency	Notice Period
Limited liability investments, at fair value	$	29,548	n/a	n/a	n/a

Fair Value, Nonrecurring [Member]

Notes Tables

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	Fair Value
Categories	(in thousands)		Valuation Techniques	Unobservable Inputs	Input Value(s)
Customer relationships	$	15,000	Multi-period excess earnings	Growth rate		3.0	%
				Attrition rate		12.3	%
				Discount rate		29.5	%
Trade name	$	4,550	Relief from royalty	Royalty rate		4.0	%
				Discount rate		29.5	%
Deferred service fees	$	3,626	Cost build-up	Normal profit margin		17.8%-21.1%
				Discount rate		2.5	%

Fair Value, Recurring [Member]

Notes Tables

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

Categories	Fair Value		Valuation Techniques	Unobservable Inputs	Input Value(s)
Limited liability investments, at fair value	$	3,744	Market approach	Valuation multiples	3.1x - 8.0x
Real estate investments	$	10,662	Market and income approach	Cap rates		7.5	%
Stock-based compensation liabilities	$	1,306	Market approach	Valuation multiple	6.0x

Categories	Fair Value		Valuation Techniques	Unobservable Inputs	Input Value(s)
Limited liability investments, at fair value	$	3,263	Market approach	Valuation multiples	3.1x - 8.0x
Real estate investments	$	10,662	Market and income approach	Cap rates		7.5	%
Stock-based compensation liabilities	$	443	Market approach	Valuation multiple	6.0x