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Consolidated Statements Of Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Net premiums written $ 36,511,373 $ 30,945,532 $ 87,810,602 $ 86,372,154
Investment income – interest and dividends 1,160,983 1,117,529 3,478,999 3,427,055
Net realized gain (loss) on investments 439,326 (338,631) 574,328 601,336
Other 2,890,023 2,816,828 7,827,509 7,924,329
Total Revenues 41,001,705 34,541,258 99,691,438 98,324,874
Operating Expenses:        
Commissions to agents 18,739,151 16,898,323 45,946,379 48,393,553
(Benefit) provision for claims (1,067,853) 703,979 (403,982) 3,621,401
Salaries, employee benefits and payroll taxes 8,300,823 6,957,874 22,945,972 21,101,955
Office occupancy and operations 1,496,948 1,342,288 4,526,710 4,089,806
Business development 608,532 568,189 1,695,180 1,633,358
Filing fees, franchise and local taxes 191,574 134,880 688,731 572,621
Premium and retaliatory taxes 673,551 573,336 1,559,631 1,684,674
Professional and contract labor fees 523,504 661,879 1,599,603 1,926,469
Other 157,308 264,012 629,539 708,918
Total Operating Expenses 29,623,538 28,104,760 79,187,763 83,732,755
Income before Income Taxes 11,378,167 6,436,498 20,503,675 14,592,119
Provision for Income Taxes 3,249,000 1,941,000 6,040,000 4,250,000
Net Income 8,129,167 4,495,498 14,463,675 10,342,119
Net (Gain) Loss Attributable to Noncontrolling Interests (2,228) (4,536) 6,684 (4,536)
Net Income Attributable to the Company $ 8,126,939 $ 4,490,962 $ 14,470,359 $ 10,337,583
Basic Earnings per Common Share $ 4.30 $ 2.28 $ 7.55 $ 5.18
Weighted Average Shares Outstanding – Basic 1,888,870 1,967,923 1,915,468 1,995,120
Diluted Earnings per Common Share $ 4.29 $ 2.28 $ 7.53 $ 5.17
Weighted Average Shares Outstanding – Diluted 1,895,592 1,972,233 1,921,999 2,000,043
Cash Dividends Paid per Common Share $ 0.20 $ 0.08 $ 0.52 $ 0.24