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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ (10,012) $ (1,350)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Investment related (gains) losses on sale of investments and other assets 10,589 (7,277)
Net deferred policy acquisition cost 1,532 1,502
Amortization of cost of customer relationships acquired 775 959
Depreciation 413 954
Amortization of premiums and discounts on investments 3,456 4,065
Stock-based compensation 300 406
Deferred federal income tax expense (benefit) 150 (370)
Change in:    
Accrued investment income (418) 512
Reinsurance recoverable 2,054 (7,971)
Due premiums 197 1,940
Future policy benefit reserves 22,920 22,292
Other policyholders' liabilities 1,104 20,668
Federal income tax receivable 1,231 1,855
Commissions payable and other liabilities 6,367 (14,342)
Other, net (895) (73)
Net cash provided by (used in) operating activities 39,763 23,770
Cash flows from investing activities:    
Purchases of fixed maturity securities, available-for-sale (102,348) (62,809)
Sales of fixed maturity securities, available-for-sale 30,348 8,238
Maturities and calls of fixed maturity securities, available-for-sale 37,890 40,395
Principal payments on mortgage loans 1,097 7
Funding of mortgage loans 0 (1,000)
(Increase) decrease in policy loans, net 2,222 3,216
Sales of other long-term investments 4,130 20,893
Purchases of other long-term investments (18,150) (27,514)
Sales of property and equipment 0 14
Purchase of property and equipment (76) (847)
Purchase of short-term investments (1,250) 0
Net cash provided by (used in) investing activities (46,137) (19,407)
Cash flows from financing activities:    
Annuity deposits 6,777 6,901
Annuity withdrawals (6,634) (5,855)
Acquisition of treasury stock (2,183) (9,090)
Issuance of common stock 2,244 0
Other (117) (363)
Net cash provided by (used in) financing activities 87 (8,407)
Net increase (decrease) in cash and cash equivalents (6,287) (4,044)
Cash and cash equivalents at beginning of year 27,294 34,131
Cash and cash equivalents at end of period $ 21,007 $ 30,087