XML 53 R4.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements Of Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Net premiums written $ 30,945,532 $ 26,356,835 $ 86,372,154 $ 81,115,940
Investment income - interest and dividends 1,117,529 1,064,995 3,427,055 3,130,846
Net realized (loss) gain on investments (338,631) 8,689 601,336 592,908
Other 2,816,828 2,077,711 7,924,329 6,344,163
Total Revenues 34,541,258 29,508,230 98,324,874 91,183,857
Operating Expenses:        
Commissions to agents 16,898,323 14,440,264 48,393,553 48,242,923
Provision for claims 703,979 1,507,814 3,621,401 4,177,478
Salaries, employee benefits and payroll taxes 6,957,874 6,609,425 21,101,955 19,250,116
Office occupancy and operations 1,342,288 1,257,009 4,089,806 3,683,980
Business development 568,189 552,215 1,633,358 1,581,872
Filing fees, franchise and local taxes 134,880 233,079 572,621 648,022
Premium and retaliatory taxes 573,336 491,927 1,684,674 1,332,492
Professional and contract labor fees 661,879 621,305 1,926,469 1,976,272
Other 264,012 196,702 708,918 656,653
Total Operating Expenses 28,104,760 25,909,740 83,732,755 81,549,808
Income before Income Taxes 6,436,498 3,598,490 14,592,119 9,634,049
Provision for Income Taxes 1,941,000 1,004,000 4,250,000 2,656,000
Net Income 4,495,498 2,594,490 10,342,119 6,978,049
Net Income Attributable to Noncontrolling Interests (4,536)   (4,536)  
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest   0   23,523
Net Income Attributable to the Company $ 4,490,962 $ 2,594,490 $ 10,337,583 $ 6,954,526
Basic Earnings per Common Share $ 2.28 $ 1.28 $ 5.18 $ 3.42
Weighted Average Shares Outstanding – Basic 1,967,923 2,028,818 1,995,120 2,033,637
Diluted Earnings per Common Share $ 2.28 $ 1.28 $ 5.17 $ 3.41
Weighted Average Shares Outstanding – Diluted 1,972,233 2,032,644 2,000,043 2,038,875
Cash Dividends Paid per Common Share $ 0.08 $ 0.08 $ 0.24 $ 0.24