XML 17 R2.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Fixed maturities    
Held to maturity, at amortized cost $ 434,458,088 $ 402,798,518
Available for sale, at fair value 569,749,979 526,558,304
Equity securities, at fair value 46,767,296 43,667,009
Investment in affiliate   41,025,975
Short-term investments, at cost, which approximates fair value 24,452,789 16,748,760
Total investments 1,075,428,152 1,030,798,566
Cash 35,945,567 52,594,461
Accrued investment income 7,298,206 6,561,199
Premiums receivable 176,257,781 156,702,250
Reinsurance receivable 357,629,286 343,369,065
Deferred policy acquisition costs 64,274,476 60,615,127
Deferred tax asset, net 9,503,034 13,069,755
Prepaid reinsurance premiums 143,969,376 135,379,777
Property and equipment, net 4,673,096 4,690,704
Accounts receivable—securities 170,470 261,829
Federal income taxes receivable 16,959,666 19,032,604
Goodwill 5,625,354 5,625,354
Other intangible assets 958,010 958,010
Other 2,590,138 2,419,566
Total assets 1,901,282,612 1,832,078,267
Liabilities    
Unpaid losses and loss expenses 845,282,435 814,665,224
Unearned premiums 535,999,385 506,528,606
Accrued expenses 25,180,277 25,442,146
Reinsurance balances payable 2,545,976 3,882,193
Borrowings under lines of credit 35,000,000 60,000,000
Cash dividends declared to stockholders   3,948,484
Subordinated debentures 5,000,000 5,000,000
Accounts payable—securities 5,222,537 1,003,810
Due to affiliate 6,010,121 10,874,540
Other 3,188,157 1,863,363
Total liabilities 1,463,428,888 1,433,208,366
Stockholders' Equity    
Preferred stock, $.01 par value, authorized 2,000,000 shares; none issued
Additional paid-in capital 264,320,325 261,258,423
Accumulated other comprehensive loss (1,837,379) (14,228,059)
Retained earnings 216,280,947 192,751,208
Treasury stock, at cost (41,226,357) (41,226,357)
Total stockholders' equity 437,853,724 398,869,901
Total liabilities and stockholders' equity 1,901,282,612 1,832,078,267
Class A Common Stock [Member]    
Stockholders' Equity    
Common stock value 259,696 258,194
Total stockholders' equity 259,696 258,194
Class B Common Stock [Member]    
Stockholders' Equity    
Common stock value 56,492 56,492
Total stockholders' equity $ 56,492 $ 56,492