Note 23 - Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

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

(in thousands)					December 31, 2023
	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	$	12,997	$	—	$	12,997	$	—	$	—
States, municipalities and political subdivisions		2,783		—		2,783		—		—
Mortgage-backed		9,253		—		9,253		—		—
Asset-backed		1,210		—		1,210		—		—
Corporate		10,230		—		10,230		—		—
Total fixed maturities		36,473		—		36,473		—		—
Equity investments		79		79		—		—		—
Limited liability investments, at fair value		3,496		—		—		3,496		—
Derivative contract - interest rate swap		49		—		49		—		—
Total assets	$	40,018	$	—	$	36,522	$	3,496	$	—
Liabilities:
Subordinated debt	$	13,594	$	—	$	13,594	$	—	$	—
Contingent consideration		3,105		—		—		3,105		—
Total liabilities	$	16,699	$	—	$	13,594	$	3,105	$	—

(in thousands)					December 31, 2022
	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	$	15,080	$	—	$	15,080	$	—	$	—
States, municipalities and political subdivisions		2,232		—		2,232		—		—
Mortgage-backed		8,412		—		8,412		—		—
Asset-backed		1,610		—		1,610		—		—
Corporate		10,257		—		10,257		—		—
Total fixed maturities		37,591		—		37,591		—		—
Equity investments		153		153		—		—		—
Limited liability investments, at fair value		17,059		—		—		3,196		13,863
Derivative contract - interest rate swap		326		—		326		—		—
Derivative contract - trust preferred debt repurchase options		19,034		—		—		19,034		—
Total assets	$	74,010	$	—	$	37,917	$	22,230	$	13,863
Liabilities:
Subordinated debt	$	67,811	$	—	$	67,811	$	—	$	—
Contingent consideration		3,218		—		—		3,218		—
Total liabilities		71,029		—		67,811		3,218		—

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

(in thousands)	Years ended December 31,
	2023			2022
Assets:
Limited liability investments, at fair value:
Beginning balance	$	3,196		$	4,022
Contributions		47			—
Distributions received		(876	)		(621	)
Realized gains included in net income		481			607
Change in fair value of limited liability investments, at fair value included in net income		648			(812	)
Ending balance	$	3,496		$	3,196
Unrealized gains (losses) on limited liability investments, at fair value held at end of period:
Included in net income	$	648		$	(812	)
Included in other comprehensive loss	$	—		$	—
Derivative - trust preferred debt repurchase options:
Beginning balance	$	19,034		$	—
Purchase of options		—			2,304
Initial valuation of options included in net income		—			11,412
Exercise of options included in net (loss) income		(17,668	)		—
Change in fair value of derivative assets included in net income		(1,366	)		5,318
Ending balance	$	—		$	19,034
Unrealized gains recognized on derivative assets held at end of period:
Included in net income	$	—		$	16,730
Included in other comprehensive loss		—			—
Ending balance - assets	$	3,496		$	22,230
Liabilities:
Contingent consideration:
Beginning balance	$	3,218		$	2,458
Settlements of contingent consideration liabilities		(375	)		(750	)
Change in fair value of contingent consideration included in net income		262			1,510
Ending balance	$	3,105		$	3,218
Unrealized losses recognized on contingent consideration liabilities held at end of period:
Included in net income	$	262		$	1,510
Included in other comprehensive loss	$	—		$	—
Ending balance - liabilities	$	3,105		$	3,218

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	$	3,496	Market approach	Valuation multiples	1.0x - 9.0x
Contingent consideration	$	3,105	Option-based income approach	Discount rate		8.25	%
				Risk-free rate	4.96		%
				Expected volatility	9.0		%

Categories	Fair Value		Valuation Techniques	Unobservable Inputs	Input Value(s)
Limited liability investments, at fair value	$	3,196	Market approach	Valuation multiples	1.0x - 9.0x
Derivative - trust preferred debt repurchase options	$	19,034	Binomial lattice option approach	Credit spread		8.95	%
				Interest rate volatility	2.3		%
				Debt coupon interest rate	8.72%-8.87%
				Time to maturity (in years)	10.4 - 10.59
Contingent consideration	$	3,218	Option-based income approach	Discount rate		8.25	%
				Risk-free rate	4.44		%
				Expected volatility	13.0		%

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	$	—		n/a		n/a		n/a

	Fair Value						Redemption
Category	(in thousands)		Unfunded Commitments		Redemption Frequency		Notice Period
Limited liability investments, at fair value	$	13,863		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	$	2,500	Multi-period excess earnings	Growth rate		3.0	%
				Attrition rate		25.0	%
				Discount rate		16.5	%
Trade name	$	1,500	Relief from royalty	Royalty rate		2.5	%
				Discount rate		15.5	%

Categories	Fair Value		Valuation Techniques	Unobservable Inputs	Input Value(s)
Customer relationships	$	3,600	Multi-period excess earnings	Growth rate		3.0	%
				Attrition rate		10.0	%
				Discount rate		21.0	%
Trade name	$	3,100	Relief from royalty	Royalty rate		3.0	%
				Discount rate		21.0	%

Categories	Fair Value	Valuation Techniques	Unobservable Inputs	Input Value(s)
Customer relationships	$ 1,000	Multi-period excess earnings	Growth rate	3.0%
			Attrition rate	5.0%
			Discount rate	21.5%
Developed technology	$ 600	Relief from royalty	Royalty rate	5.0%
			Discount rate	19.5%
Trade name	$ 120	Relief from royalty	Royalty rate	0.8%
			Discount rate	19.5%

Categories	Fair Value		Valuation Techniques	Unobservable Inputs	Input Value(s)
Customer relationships	$	6,500	Multi-period excess earnings	Growth rate		3.0	%
				Attrition rate		5.0	%
				Discount rate		27.0	%
Trade name	$	260	Relief from royalty	Royalty rate		1.0	%
				Discount rate		25.0	%