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Schedule II
 12 Months Ended
Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
BALANCE SHEETS
AS OF DECEMBER 31, 2020 AND 2019
(in thousands)20202019
Assets  
Cash and cash equivalents$3,680 $9,651 
Fixed maturity securities, available-for-sale, at fair value
27,311 33,244 
Equity securities, at fair value
4,554 4,141 
Short-term investments
5,318 3,806 
Investments in affiliated companies
150,620 133,053 
Other investments
4,215 4,468 
Prepaid expenses and other receivables2,453 2,306 
Current income taxes receivable2,487 786 
Accrued interest and dividends207 321 
Property, net2,410 2,412 
Total Assets$203,255 $194,188 
Liabilities and Shareholders’ Equity  
Liabilities:  
Accounts payable and accrued liabilities$2,313 $2,471 
Deferred income taxes, net520 355 
Total liabilities2,833 2,826 
Shareholders’ Equity:  
Preferred stock (1,000 authorized shares; no shares issued)
— — 
Common stock – no par value (10,000 authorized shares; 1,892 and 1,889 shares issued and outstanding as of December 31, 2020 and 2019, respectively, excluding in each period 292 shares of common stock held by the Company)
— — 
Retained earnings196,096 188,262 
Accumulated other comprehensive income4,326 3,100 
Total shareholders’ equity200,422 191,362 
Total Liabilities and Shareholders’ Equity$203,255 $194,188 

Refer to the Notes to Condensed Financial Statements.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019
(in thousands, except per share amounts)20202019
Revenues:  
Interest and dividends$768 $707 
Net realized investment (losses) gains(473)37 
Changes in the estimated fair value of equity security investments265 797 
Rental income702 853 
Miscellaneous income392 882 
Total Revenues1,654 3,276 
Operating Expenses:  
Personnel expenses908 1,160 
Office and technology expenses360 375 
Other expenses1,003 1,024 
Total Operating Expenses2,271 2,559 
Equity in Net Income of Affiliated Companies39,685 30,804 
Income before Income Taxes39,068 31,521 
(Benefit) Provision for Income Taxes(352)63 
Net Income$39,420 $31,458 
Basic Earnings per Common Share$20.84 $16.66 
Weighted Average Shares Outstanding – Basic1,892 1,888 
Diluted Earnings per Common Share$20.80 $16.59 
Weighted Average Shares Outstanding – Diluted1,896 1,896 

Refer to the Notes to Condensed Financial Statements.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019
(in thousands)20202019
Operating Activities  
Net income$39,420 $31,458 
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Equity in net earnings of subsidiaries(39,685)(30,804)
Depreciation99 99 
Amortization, net198 139 
Share-based compensation expense related to stock appreciation rights229 264 
Net realized investment losses (gains)495 (37)
Net realized gain on other investments(22)— 
Changes in the estimated fair value of equity security investments(265)(797)
Net earnings from other investments(90)(226)
Provision for deferred income taxes73 269 
Increase in receivables(147)(460)
(Increase) decrease in income taxes receivable(1,701)1,652 
Decrease (increase) in other assets114 (135)
(Decrease) increase in accounts payable and accrued liabilities(158)281 
Net cash (used in) provided by operating activities(1,440)1,703 
Investing Activities  
Dividends received from subsidiaries24,043 34,925 
Purchases of fixed maturity and equity securities(691)(24,503)
Purchases of short-term securities(7,590)(39,635)
Purchases of and net earnings from other investments(97)— 
Proceeds from sales and maturities of fixed maturity and equity securities6,179 8,200 
Proceeds from sales and maturities of short-term securities6,081 45,279 
Proceeds from sales and distributions of other investments440 904 
Proceeds from sales of other assets22 — 
Purchases of property(97)(12)
Net cash provided by investing activities28,290 25,158 
Financing Activities  
Repurchases of common stock(6)(19)
Exercise of stock appreciation rights1 — 
Capital contribution to subsidiaries(1,100)(600)
Dividends paid(31,716)(18,131)
Net cash used in financing activities(32,821)(18,750)
Net (Decrease) Increase in Cash and Cash Equivalents(5,971)8,111 
Cash and Cash Equivalents, Beginning of Period9,651 1,540 
Cash and Cash Equivalents, End of Period$3,680 $9,651 
Supplemental Disclosures:
Income tax payments, net$10,113 $9,472 

Refer to the Notes to Condensed Financial Statements.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019
(in thousands)


1.The accompanying Condensed Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto of Investors Title Company and Subsidiaries.

2.Cash dividends paid to Investors Title Company by its wholly owned subsidiaries were as follows:
Subsidiaries20202019
Investors Title Insurance Company, net*$20,443 $32,150 
Investors Title Exchange Corporation2,000 600 
Investors Title Accommodation Corporation— 25 
Investors Trust Company500 — 
Investors Title Commercial Agency, LLC700 600 
National Investors Holdings, LLC400 1,550 
Total$24,043 $34,925 
* Total dividends of $25,331 and $34,950 paid to the Parent Company in 2020 and 2019, respectively, netted with dividends of $4,888 and $2,800 received from the Parent Company in 2020 and 2019, respectively.