NOTE 15. CONDENSED QUARTERLY FINANCIAL DATA (Unaudited)

The following is a summary of quarterly financial data for the periods indicated:

	March 31,			June 30,			September 30,			December 31,
amounts in thousands, except per share amounts	2017			2017			2017			2017
Gross Written Premiums	$	450,305		$	452,179		$	402,038		$	408,743
Revenues:
Net Written Premiums	$	337,163		$	333,282		$	296,016		$	304,869
Change in Unearned Premiums		(51,032	)		(39,447	)		5,339			230
Net Earned Premiums	$	286,131		$	293,835		$	301,355		$	305,099
Net Investment Income		21,448			22,265			22,598			22,982
Total Other-Than-Temporary Impairment Losses		(1,077	)		29			(957	)		3
Portion of Loss Recognized in Other Comprehensive Income (Before Tax)		(16	)		(29	)		(15	)		(3	)
Net Other-Than-Temporary Impairment Losses Recognized in Earnings		(1,093	)		—			(972	)		—
Net Realized Gains		1,049			1,694			5,190			37,141
Other Income (Loss)		1,068			(411	)		(1,699	)		(3,201	)
Total Revenues	$	308,603		$	317,383		$	326,472		$	362,021

Expenses:
Net Losses and LAE	$	169,600		$	177,110		$	276,171		$	183,384
Commission Expenses		47,844			48,173			45,509			43,205
Other Operating Expenses		58,538			60,766			45,773			68,153
Interest Expense		3,861			3,861			3,862			3,863
Total Expenses	$	279,843		$	289,910		$	371,315		$	298,605
Income (Loss) Before Income Taxes		28,760			27,473			(44,843	)		63,416
Income Tax Expense (Benefit)	$	7,650		$	6,971		$	(16,864	)	$	36,555
Net Income (Loss)	$	21,110		$	20,502		$	(27,979	)	$	26,861

Comprehensive Income (Loss)	$	35,911		$	35,699		$	(18,311	)	$	(1,812	)

Combined Ratio		96.4	%		97.3	%		121.9	%		96.6	%
Net Income (Loss) per Share:
Basic	$	0.72		$	0.70		$	(0.95	)	$	0.91
Diluted	$	0.70		$	0.69		$	(0.95	)	$	0.89

	March 31,			June 30,			September 30,			December 31,
amounts in thousands, except per share amounts	2016			2016			2016			2016
Gross Written Premiums	$	413,877		$	412,565		$	374,930		$	367,539
Revenues:
Net Written Premiums	$	319,820		$	306,535		$	277,001		$	282,868
Change in Unearned Premiums		(55,462	)		(38,543	)		7,009			1,117
Net Earned Premiums	$	264,358		$	267,992		$	284,010		$	283,985
Net Investment Income		19,594			19,875			19,875			20,107
Total Other-Than-Temporary Impairment Losses		(109	)		(162	)		23			21
Portion of Loss Recognized in Other Comprehensive Income (Before Tax)		109			12			(23	)		(21	)
Net Other-Than-Temporary Impairment Losses Recognized in Earnings		—			(150	)		—			—
Net Realized Gains		1,597			1,960			1,586			4,043
Other Income (Loss)		2,549			4,430			(183	)		1,905
Total Revenues	$	288,098		$	294,107		$	305,288		$	310,040

Expenses:
Net Losses and LAE	$	152,956		$	167,206		$	172,793		$	172,493
Commission Expenses		37,554			40,726			42,611			44,154
Other Operating Expenses		60,809			59,074			56,137			58,076
Interest Expense		3,858			3,858			3,859			3,860
Total Expenses	$	255,177		$	270,864		$	275,400		$	278,583
Income Before Income Taxes		32,921			23,243			29,888			31,457
Income Tax Expense	$	9,989		$	7,053		$	7,875		$	9,866
Net Income	$	22,932		$	16,190		$	22,013		$	21,591

Comprehensive Income (Loss)	$	45,721		$	35,228		$	18,760		$	(31,712	)

Combined Ratio		95.1	%		99.6	%		95.6	%		96.7	%
Net Income per Share:
Basic	$	0.79		$	0.56		$	0.76		$	0.74
Diluted	$	0.77		$	0.54		$	0.73		$	0.71