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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 10,998 $ 8,941
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 (415) 5,598
Net deferred policy acquisition cost (5,414) (3,938)
Amortization of cost of insurance acquired 314 280
Depreciation 248 288
Amortization of premiums and discounts on investments 2,468 2,658
Stock-based compensation 146 150
Deferred federal income tax expense (benefit) 924 1,353
Change in:    
Accrued investment income 77 (300)
Reinsurance recoverable 515 2,113
Due premiums 2,585 1,210
Future policy benefit reserves (1,397) 3,639
Other policyholders' liabilities 5,848 881
Federal income tax receivable (961) 558
Commissions payable and other liabilities (3,383) 246
Other, net (355) (1,330)
Net cash provided by (used in) operating activities 12,198 22,347
Cash flows from investing activities:    
Purchases of fixed maturity securities, available-for-sale (27,637) (64,689)
Sales of fixed maturity securities, available-for-sale 4,244 28,828
Maturities and calls of fixed maturity securities, available-for-sale 17,104 18,234
Principal payments on mortgage loans 4 95
(Increase) decrease in policy loans, net 829 1,721
Sales of other long-term investments 2,538 2,699
Purchases of other long-term investments (9,409) (14,746)
Purchase of property and equipment (84) (51)
Maturity of short-term investments 500 0
Purchase of short-term investments 0 (5)
Net cash provided by (used in) investing activities (11,911) (27,914)
Cash flows from financing activities:    
Annuity deposits 3,813 4,160
Annuity withdrawals (5,390) (4,319)
Acquisition of treasury stock (719) (1,300)
Issuance of common stock 0 2,244
Other (50) (105)
Net cash provided by (used in) financing activities (2,346) 680
Net increase (decrease) in cash and cash equivalents (2,059) (4,887)
Cash and cash equivalents at beginning of year 22,973 27,294
Cash and cash equivalents at end of period $ 20,914 $ 22,407