Investments

The following table summarizes the Company's available-for-sale fixed maturity and equity securities:



	March 31, 2012
Description of Security	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Obligations of the U.S. Treasury and U.S. Government agencies	$	23,505	$	589	$	(2	)	$	24,092
Municipal securities	17,492		370		(1		)	17,861
Corporate securities	48,595		1,112		(158		)	49,549
Mortgage-backed securities	994		23		—			1,017
Asset-backed securities	315		9		—			324
Total fixed maturity securities	$	90,901	$	2,103	$	(161	)	$	92,843

Common stock - publicly traded	$	40	$	18	$	—		$	58
Preferred stock - publicly traded	2,633		2		(5		)	2,630
Common stock - non-publicly traded	104		4		(16		)	92
Preferred stock - non-publicly traded	1,009		4		—			1,013
Total equity securities	$	3,786	$	28	$	(21	)	$	3,793



	December 31, 2011
Description of Security	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Obligations of the U.S. Treasury and U.S. Government agencies	$	25,751	$	611	$	(2	)	$	26,360
Municipal securities	17,609		388		(5		)	17,992
Corporate securities	47,304		594		(426		)	47,472
Mortgage-backed securities	1,272		26		—			1,298
Asset-backed securities	375		12		—			387
Total fixed maturity securities	$	92,311	$	1,631	$	(433	)	$	93,509

Common stock - publicly traded	$	40	$	—	$	(1	)	$	39
Preferred stock - publicly traded	50		2		—			52
Common stock - non-publicly traded	104		26		(16		)	114
Preferred stock - non-publicly traded	1,009		5		—			1,014
Total equity securities	$	1,203	$	33	$	(17	)	$	1,219

Pursuant to certain reinsurance agreements and statutory licensing requirements, the Company has deposited invested assets in custody accounts or insurance department safekeeping accounts. The Company is not permitted to remove invested assets from these accounts without prior approval of the contractual party or regulatory authority. The following table details the Company's restricted investments:



	March 31, 2012		December 31, 2011
Fair value of restricted investments	$	16,518	$	15,886

Fair value of restricted investments for special deposits required by state insurance departments	$	9,791	$	9,185

The amortized cost and fair value of fixed maturity securities by contractual maturity are shown below. Expected maturities will differ from contractual maturities as borrowers have the right to call or prepay obligations with or without call or prepayment penalties.



	March 31, 2012				December 31, 2011
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	6,295	$	6,349	$	3,890	$	3,923
Due after one year through five years	47,705		48,835		51,210		51,839
Due after five years through ten years	17,514		17,970		23,623		23,973
Due after ten years through twenty years	2,078		2,112		3,216		3,281
Due after twenty years	16,000		16,236		8,725		8,807
Mortgage-backed securities	994		1,017		1,272		1,298
Asset-backed securities	315		324		375		388
Total fixed maturity securities	$	90,901	$	92,843	$	92,311	$	93,509

The following table provides information on unrealized losses on investment securities that have been in an unrealized loss position for less than twelve months and twelve months or greater as of:



	March 31, 2012
	Less than Twelve Months						Twelve Months or Greater					Total
Description of Security	Fair Value		Unrealized Losses			# of Securities	Fair Value		Unrealized Losses		# of Securities	Fair Value		Unrealized Losses			# of Securities
Obligations of the U.S. Treasury and U.S. Government agencies	$	2,943	$	(2	)	12	$	—	$	—	—	$	2,943	$	(2	)	12
Municipal securities	480		(1		)	1	—		—		—	480		(1		)	1
Corporate securities	8,124		(158		)	19	—		—		—	8,124		(158		)	19
Mortgage-backed securities	245		—			1	—		—		—	245		—			1
Asset-backed securities	—		—			—	—		—		—	—		—			—
Total fixed maturity securities	$	11,792	$	(161	)	33	$	—	$	—	—	$	11,792	$	(161	)	33

Common stock - publicly traded	$	—	$	—		—	$	—	$	—	—	$	—	$	—		—
Preferred stock - publicly traded	1,778		(5		)	2	—		—		—	1,778		(5		)	2
Common stock - non-publicly traded	45		(16		)	3	—		—		—	45		(16		)	3
Preferred stock - non-publicly traded	—		—			—	—		—		—	—		—			—
Total equity securities	$	1,823	$	(21	)	5	$	—	$	—	—	$	1,823	$	(21	)	5



	December 31, 2011
	Less than Twelve Months						Twelve Months or Greater						Total
Description of Security	Fair Value		Unrealized Losses			# of Securities	Fair Value		Unrealized Losses			# of Securities	Fair Value		Unrealized Losses			# of Securities
Obligations of the U.S. Treasury and U.S. Government agencies	$	1,902	$	(2	)	7	$	—	$	—		—	$	1,902	$	(2	)	7
Municipal securities	486		(1		)	1	478		(4		)	1	964		(5		)	2
Corporate securities	16,861		(426		)	26	—		—			—	16,861		(426		)	26
Mortgage-backed securities	—		—			—	—		—			—	—		—			—
Asset-backed securities	—		—			—	—		—			—	—		—			—
Total fixed maturity securities	$	19,249	$	(429	)	34	$	478	$	(4	)	1	$	19,727	$	(433	)	35

Common stock - publicly traded	$	38	$	(1	)	2	$	—	$	—		—	$	38	$	(1	)	2
Preferred stock - publicly traded	—		—			—	—		—			—	—		—			—
Common stock - non-publicly traded	45		(16		)	3	—		—			—	45		(16		)	3
Preferred stock - non-publicly traded	—		—				—		—			—	—		—			—
Total equity securities	$	83	$	(17	)	5	$	—	$	—		—	$	83	$	(17	)	5

The Company does not intend to sell the investments that are in an unrealized loss position at March 31, 2012 and it is more likely than not that the Company will be able to hold these securities until full recovery of their amortized cost basis for fixed maturity securities or cost for equity securities. As of March 31, 2012, based on our quarterly review, none of the fixed maturity or equity securities were deemed to be other-than-temporarily impaired since based on the Company's analysis of the securities' and the Company's intent to hold the securities until recovery.

The following table summarizes the proceeds from the sale of available-for-sale investment securities, the gross realized gains and gross realized losses for both fixed maturity and equity securities and realized losses for other-than-temporary impairments:



	For the Three Months Ended
	March 31, 2012			March 31, 2011
Gross proceeds from sales	$	2,050		$	7,238

Gross realized gains	$	1		$	112
Gross realized losses	(4		)	(17		)
Total net (losses) gains from sales	(3		)	95
Impairment write-downs (other-than-temporary impairments)	—			—
Total realized investment (losses) gains	$	(3	)	$	95



The following schedule details the components of net investment income:	For the Three Months Ended
	March 31, 2012			March 31, 2011
Fixed income securities	$	685		$	885
Cash on hand and on deposit	51			57
Common and preferred stock dividends	26			16
Notes receivable	63			58
Other income	35			46
Investment expenses	(117		)	(121		)
Net investment income	$	743		$	941