XML 32 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
Fixed maturities    
Held to maturity, at amortized cost $ 308,941,155 $ 240,370,277
Available for sale, at fair value 431,621,301 403,651,965
Equity securities, available for sale, at fair value 30,087,270 12,422,837
Investments in affiliates 38,837,543 35,685,433
Short-term investments, at cost, which approximates fair value 16,432,960 99,677,795
Total investments 825,920,229 791,808,307
Cash 30,997,755 27,636,416
Accrued investment income 6,284,941 5,423,531
Premiums receivable 139,566,959 123,904,629
Reinsurance receivable 251,811,903 244,239,113
Deferred policy acquisition costs 49,081,580 43,627,510
Deferred tax asset, net 17,286,666 20,310,558
Prepaid reinsurance premiums 121,161,774 112,663,942
Property and equipment, net 7,698,400 6,424,703
Accounts receivable - securities   1,187,866
Federal income taxes recoverable   420,952
Goodwill 5,625,354 5,625,354
Other intangible assets 958,010 958,010
Other 1,328,821 1,179,611
Total assets 1,457,722,392 1,385,410,502
Liabilities    
Unpaid losses and loss expenses 520,102,584 495,619,269
Unearned premiums 422,802,436 382,734,642
Accrued expenses 16,961,029 19,265,097
Reinsurance balances payable 10,444,913 17,948,808
Borrowings under lines of credit 56,000,000 58,000,000
Cash dividends declared   3,299,182
Subordinated debentures 5,000,000 5,000,000
Accounts payable - securities 5,254,305 751,641
Federal income taxes payable 1,000,264  
Due to affiliate 248,500 2,170,225
Drafts payable 2,438,214 1,386,285
Other 2,526,234 2,358,242
Total liabilities 1,042,778,479 988,533,391
Stockholders' Equity    
Preferred stock, $.01 par value, authorized 2,000,000 shares; none issued      
Additional paid-in capital 197,753,459 189,116,410
Accumulated other comprehensive income (loss) 4,222,095 (2,312,890)
Retained earnings 225,790,998 222,888,887
Treasury stock (13,101,682) (13,089,656)
Total stockholders' equity 414,943,913 396,877,111
Total liabilities and stockholders' equity 1,457,722,392 1,385,410,502
Class A common stock [Member]
   
Stockholders' Equity    
Common stock value 222,551 217,868
Total stockholders' equity 222,551 217,868
Class B common stock [Member]
   
Stockholders' Equity    
Common stock value 56,492 56,492
Total stockholders' equity $ 56,492 $ 56,492