XML 22 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating Activities    
Net Income (Loss) $ 21,686 $ 23,903
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,760 2,298
(Accretion) amortization of investments, net (3,698) 271
Amortization of other intangible assets, net 1,361 1,282
Share-based compensation expense related to stock appreciation rights 425 362
Net gains on disposals of property (204) (58)
Net investment (gains) losses on securities (3,448) 11,226
Net earnings from other investments (3,206) (2,224)
Provision for claims 4,762 4,255
Benefit for deferred income taxes (4,234) (4,644)
Changes in assets and liabilities:    
Decrease in premium and fees receivable 5,709 3,906
Decrease in other assets 621 532
Decrease (increase) in lease assets 404 (1,505)
Decrease (increase) in current income taxes receivable 93 (1,174)
(Decrease) increase in lease liabilities (390) 1,510
(Decrease) increase in accounts payable and accrued liabilities (10,408) 3,410
Decrease in current income taxes payable 0 (3,329)
Payments of claims, net of recoveries (4,807) (3,817)
Net cash provided by (used in) operating activities 7,426 36,204
Investing Activities    
Purchases of fixed maturity securities (20,339) (10,704)
Purchases of equity securities (11,969) (5,855)
Purchases of short-term investments (174,742) (101,718)
Purchase of subsidiary 0 (4,927)
Purchases of other investments (3,006) (1,574)
Proceeds from sales and maturities of fixed maturity securities 10,937 31,305
Proceeds from the sale of equity securities 30,216 20,785
Proceeds from sales and maturities of short-term investments 166,362 44,236
Proceeds from sales and distributions of other investments 4,499 5,332
Proceeds from sales of other assets 0 29
Purchases of property, equipment and software (9,186) (5,681)
Proceeds from disposals of property 529 26
Net cash provided by (used in) investing activities (6,699) (28,746)
Financing Activities    
Repurchases of common stock (959) (133)
Exercise of stock appreciation rights 0 (1)
Dividends paid (11,048) (9,181)
Net cash provided by (used in) financing activities (12,007) (9,315)
Net Increase (Decrease) in Cash and Cash Equivalents (11,280) (1,857)
Cash and Cash Equivalents, Beginning of Period 35,311 37,168
Cash and Cash Equivalents, End of Period 24,031 35,311
Cash Paid During the Year for:    
Income tax payments, net 8,688 15,363
Non cash net unrealized (gain) loss on investments, net of deferred tax (expense) benefit of $(109) and $860 for December 31, 2023 and 2022, respectively (419) 3,206
Adjustments to postretirement benefits obligation, net of deferred tax expense of $(5) and $(48) for December 31, 2023 and 2022, respectively (19) (180)
Non cash 1031 exchange proceeds 2,589 0
Goodwill and other intangibles acquired 0 (2,832)
Title plant acquired 0 (637)
Prepaid and other assets acquired 0 (121)
Fixed assets acquired 0 (1,337)
Purchase of subsidiary, net of cash received $ 0 $ (4,927)