Note 23 - Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

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

(in thousands)					December 31, 2021
	Fair Value Measurements at the End of the Reporting Period Using
			Quoted
			Prices in
			Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable		Measured at
			Assets		Inputs		Inputs		Net Asset
	Total		(Level 1)		(Level 2)		(Level 3)		Value
Recurring fair value measurements
Assets:
Fixed maturities:
U.S. government, government agencies and authorities	$	16,223	$	—	$	16,223	$	—	$	—
States, municipalities and political subdivisions		1,878		—		1,878		—		—
Mortgage-backed		7,629		—		7,629		—		—
Asset-backed		445		—		445		—		—
Corporate		9,491		—		9,491		—		—
Total fixed maturities		35,666		—		35,666		—		—
Equity investments:
Common stock		171		171		—		—		—
Warrants		8		—		8		—		—
Total equity investments		179		171		8		—		—
Limited liability investments, at fair value		18,826		—		—		4,022		14,804
Real estate investments		10,662		—		—		10,662		—
Total assets	$	65,333	$	171	$	35,674	$	14,684	$	14,804
Liabilities:
Subordinated debt	$	60,973	$	—	$	60,973	$	—	$	—
Contingent consideration		2,458		—		—		2,458		—
Stock-based compensation liabilities		1,402		—		—		1,402		—
Derivative contract - interest rate swap		14		—		14		—		—
Total liabilities	$	64,847	$	—	$	60,987	$	3,860	$	—

(in thousands)					December 31, 2020
	Fair Value Measurements at the End of the Reporting Period Using
			Quoted
			Prices in
			Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable		Measured
			Assets		Inputs		Inputs		at Net
	Total		(Level 1)		(Level 2)		(Level 3)		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)	Years ended December 31,
	2021			2020
Assets:
Limited liability investments, at fair value:
Beginning balance	$	3,263		$	4,392
Purchases		—			21
Distributions received		(658	)		(808	)
Realized gains included in net income (loss)		631			474
Change in fair value of limited liability investments, at fair value included in net income (loss)		786			(816	)
Ending balance	$	4,022		$	3,263
Unrealized lossses (gains) on limited liability investments, at fair value held at end of period:
Included in net income (loss)	$	786		$	(816	)
Included in other comprehensive (loss) income	$	—		$	—
Real estate investments:
Beginning balance	$	10,662		$	10,662
Change in fair value of real estate investments included in net income (loss)		—			—
Ending balance	$	10,662		$	10,662
Unrealized gains recognized on real estate investments held at end of period:
Included in net income (loss)		—			—
Included in other comprehensive (loss) income		—			—
Ending balance - assets	$	14,684		$	13,925
Liabilities:
Contingent consideration:
Beginning balance	$	—		$	—
Issuance of contingent consideration in connection with acquisition		2,195			—
Change in fair value of contingent consideration included in net income (loss)		263			—
Ending balance	$	2,458		$	—
Unrealized losses recognized on contingent consideration liability held at end of period:
Included in net income (loss)	$	263		$	—
Included in other comprehensive (loss) income	$	—		$	—
Warrant liability:
Beginning balance	$	—		$	249
Termination of warrants		—			(336	)
Change in fair value of warrant liability included in net loss		—			87
Ending balance	$	—		$	—
Unrealized losses recognized on warrant liability held at end of period:
Included in net income (loss)	$	—		$	87
Included in other comprehensive (loss) income	$	—		$	—
Stock-based compensation liabilities:
Beginning balance	$	443		$	—
Issuance of stock-based compensation awards		—			443
Change in fair value of stock-based compensation liabilities included in net income (loss)		959			—
Ending balance	$	1,402		$	443
Unrealized losses recognized on stock-based compensation liabilities held at end of period:
Included in net income (loss)	$	959		$	—
Included in other comprehensive (loss) income	$	—		$	—
Ending balance - liabilities	$	3,860		$	443

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	$	4,022	Market approach	Valuation multiples	1.0x - 8.0x
Real estate investments	$	10,662	Market and income approach	Cap rates		7.5	%
Contingent consideration	$	2,458	Option-based income approach	Discount rate		4.0	%
				Risk-free rate	0.49		%
				Expected volatility	15.0		%
Stock-based compensation liabilities	$	1,402	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

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	$	14,804		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]

Categories	Fair Value		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	%

Categories	Fair Value	Valuation Techniques	Unobservable Inputs	Input Value(s)
Customer relationships	$ 4,000	Multi-period excess earnings	Growth rate	3.0%
			Attrition rate	15.0%
			Discount rate	21.0%
Trade name	$ 2,500	Relief from royalty	Royalty rate	3.0%
			Discount rate	21.0%