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Consolidated Statements Of Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues:        
Net premiums written $ 30,464,581 $ 29,849,853 $ 55,426,622 $ 54,759,105
Investment income - interest and dividends 1,131,487 1,039,435 2,309,526 2,065,851
Net realized gain on investments 925,164 92,082 939,967 584,219
Other 2,960,575 2,240,183 5,107,501 4,266,452
Total Revenues 35,481,807 33,221,553 63,783,616 61,675,627
Operating Expenses:        
Commissions to agents 16,898,691 18,346,381 31,495,230 33,802,659
Provision for claims 2,130,810 294,281 2,917,422 2,669,664
Salaries, employee benefits and payroll taxes 6,866,632 6,454,930 14,144,081 12,640,691
Office occupancy and operations 1,443,297 1,246,644 2,747,518 2,426,971
Business development 578,194 511,763 1,065,169 1,029,657
Filing fees, franchise and local taxes 221,098 225,343 437,741 414,943
Premium and retaliatory taxes 634,747 546,091 1,111,338 840,565
Professional and contract labor fees 680,483 666,909 1,264,590 1,354,967
Other 241,358 250,167 444,906 459,951
Total Operating Expenses 29,695,310 28,542,509 55,627,995 55,640,068
Income before Income Taxes 5,786,497 4,679,044 8,155,621 6,035,559
Provision for Income Taxes 1,666,000 1,281,000 2,309,000 1,652,000
Net Income 4,120,497 3,398,044 5,846,621 4,383,559
Net Income Attributable to Redeemable Noncontrolling Interest 0 (24,446) 0 (23,523)
Net Income Attributable to the Company $ 4,120,497 $ 3,373,598 $ 5,846,621 $ 4,360,036
Basic Earnings per Common Share $ 2.06 $ 1.66 $ 2.91 $ 2.14
Weighted Average Shares Outstanding – Basic 2,004,698 2,034,931 2,008,718 2,036,047
Diluted Earnings per Common Share $ 2.05 $ 1.65 $ 2.90 $ 2.14
Weighted Average Shares Outstanding – Diluted 2,009,495 2,039,202 2,013,878 2,041,268
Cash Dividends Paid per Common Share $ 0.08 $ 0.08 $ 0.16 $ 0.16