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Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Fixed maturities    
Held to maturity, at amortized cost (net of allowance for expected credit losses of $1,355,484 and $0) $ 693,778,523 $ 688,439,360
Available for sale, at fair value 546,469,475 523,791,931
Equity securities, at fair value 37,584,654 35,104,840
Short-term investments, at cost, which approximates fair value 28,137,598 57,321,111
Total investments 1,305,970,250 1,304,657,242
Cash 22,836,044 25,123,332
Accrued investment income 10,183,882 8,861,292
Premiums receivable 189,545,403 173,846,294
Reinsurance receivable (net of allowance for expected credit losses of $1,466,994 and $0) 460,681,422 456,522,223
Deferred policy acquisition costs 77,189,596 73,170,230
Deferred tax asset, net 20,686,146 21,603,017
Prepaid reinsurance premiums 170,551,420 160,591,399
Property and equipment, net 2,757,161 2,755,105
Accounts receivable - securities 1,288 1,842
Federal income taxes recoverable 7,761,084 8,510,897
Due from affiliate 2,478,004 0
Goodwill 5,625,354 5,625,354
Other intangible assets 958,010 958,010
Other 1,460,420 1,123,098
Total assets 2,278,685,484 2,243,349,335
Liabilities    
Losses and loss expenses 1,123,534,684 1,121,045,758
Unearned premiums 609,684,232 577,653,130
Accrued expenses 4,692,378 4,226,390
Reinsurance balances payable 3,275,447 3,495,824
Borrowings under lines of credit 35,000,000 35,000,000
Cash dividends declared to stockholders 0 5,296,990
Due to affiliate 0 5,173,289
Other 8,936,574 7,864,942
Total liabilities 1,785,123,315 1,759,756,323
Stockholders' Equity    
Preferred stock, $.01 par value, authorized 2,000,000 shares; none issued 0 0
Additional paid-in capital 328,375,472 325,601,647
Accumulated other comprehensive loss (37,696,109) (41,703,747)
Retained earnings 243,749,687 240,563,774
Treasury stock, at cost (41,226,357) (41,226,357)
Total stockholders' equity 493,562,169 483,593,012
Total liabilities and stockholders' equity 2,278,685,484 2,243,349,335
Class A Common Stock [Member]    
Stockholders' Equity    
Common stock 302,984 301,203
Class B Common Stock [Member]    
Stockholders' Equity    
Common stock $ 56,492 $ 56,492