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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
ASSETS    
Cash and cash equivalents $ 14,327 $ 19,319
Investments:    
Fixed maturities, available-for-sale, at fair value (amortized cost: $232,974 and $222,461) 257,011 254,106
Equity securities, at fair value (cost: $4,907 and $6,393) 22,688 18,716
Other invested assets (cost: $3,765 and $3,765) 3,095 3,238
Policy loans 1,900 1,975
Real estate 38 38
Investment in unconsolidated trusts 1,238 1,238
Total investments 285,970 279,311
Receivables:    
Reinsurance 29,889 29,086
Insurance premiums and other (net of allowance for doubtful accounts: $198 and $198) 22,479 27,512
Deferred income taxes, net 321 0
Deferred acquisition costs 38,495 39,611
Other assets 10,052 7,804
Intangibles 2,544 2,544
Total assets 404,077 405,187
LIABILITIES AND SHAREHOLDERS' EQUITY    
Future policy benefits 87,825 90,872
Unearned premiums 29,923 27,131
Losses and claims 87,173 79,147
Other policy liabilities 836 1,526
Total insurance reserves and policyholder funds 205,757 198,676
Accounts payable and accrued expenses 24,587 26,412
Deferred income taxes, net 0 1,301
Junior subordinated debenture obligations, net 33,738 33,738
Total liabilities 264,082 260,127
Commitments and contingencies (Note 10)
Shareholders' equity:    
Preferred stock, $1 par, 4,000,000 shares authorized; Series D preferred, 55,000 shares issued and outstanding; $5,500 redemption value 55 55
Common stock, $1 par, 50,000,000 shares authorized; shares issued: 22,400,894; shares outstanding: 20,378,576 and 20,415,243 22,401 22,401
Additional paid-in capital 57,441 57,437
Retained earnings 48,699 47,790
Accumulated other comprehensive income 18,989 25,000
Unearned stock grant compensation (100) (284)
Treasury stock, at cost: 2,022,318 and 1,985,651 shares (7,490) (7,339)
Total shareholders' equity 139,995 145,060
Total liabilities and shareholders' equity $ 404,077 $ 405,187