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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities    
Net income $ 15,850 $ 16,377
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,005 1,679
(Accretion) Amortization of investments, net (2,663) 270
Amortization of other intangible assets, net 982 967
Share-based compensation expense related to stock appreciation rights 337 259
Net gain on disposals of property (99) (50)
Net investment (gains) losses (720) 16,456
Net earnings from other investments (2,445) (2,976)
Provision for claims 3,897 3,452
Benefit for deferred income taxes (4,021) (4,250)
Changes in assets and liabilities:    
Decrease (increase) in premium and fees receivable 1,725 (241)
Increase in other assets (4,029) (873)
Decrease (increase) in lease assets 275 (1,056)
Decrease (increase) in current income taxes receivable 1,174 (3,164)
Decrease in accounts payable and accrued liabilities (16,204) (1,702)
(Decrease) increase in lease liabilities (200) 1,060
Increase (decrease) in current income taxes payable 1,008 (3,329)
Payments of claims, net of recoveries (3,595) (2,576)
Net cash (used in) provided by operating activities (6,723) 20,303
Investing Activities    
Purchases of fixed maturities (18,445) (350)
Purchases of equity securities (7,934) (5,585)
Purchases of short-term investments (113,548) (59,072)
Purchases of other investments (2,765) (1,300)
Purchases of subsidiary, net of cash 0 (4,927)
Proceeds from sales and maturities of fixed maturity securities 6,312 18,870
Proceeds from sales of equity securities 28,836 13,970
Proceeds from sales and maturities of short-term investments 115,829 24,372
Proceeds from sales and distributions of other investments and assets 3,327 4,523
Purchases of property (6,621) (3,980)
Proceeds from the sale of property 407 93
Net cash provided by (used in) investing activities 5,398 (13,386)
Financing Activities    
Repurchases of common stock (959) (86)
Exercise of stock appreciation rights 0 (1)
Dividends paid (2,616) (2,618)
Net cash used in financing activities (3,575) (2,705)
Net (Decrease) Increase in Cash and Cash Equivalents (4,900) 4,212
Cash and Cash Equivalents, Beginning of Period 35,311 37,168
Cash and Cash Equivalents, End of Period 30,411 41,380
Cash Paid During the Year for:    
Income tax payments, net 6,968 15,200
Non-cash net unrealized loss on investments, net of deferred tax benefit of $284 and $1,114 for September 30, 2023 and 2022, respectively 1,055 4,157
Adjustments to postretirement benefits obligation, net of deferred tax expense of $(27) and $(48) for September 30, 2023 and 2022, respectively (100) (180)
Goodwill and other intangibles acquired 0 (3,028)
Title plant acquired 0 (500)
Prepaid and other assets acquired 0 (77)
Fixed assets acquired 0 (1,322)
Purchase of subsidiary, net of cash received $ 0 $ 4,927