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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 298 $ 1,163
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization of (additions to) acquisition costs, net 1,070 (3,546)
Realized investment (gains) losses, net (70) 72
Unrealized losses on equity securities, net 1,881 2,673
Losses from equity method investees 16 18
Compensation expense related to share awards 99 65
Depreciation and amortization 357 465
Deferred income tax benefit (1,300) (694)
Increase in receivables, net (11,787) (12,729)
Increase in insurance reserves and policyholder funds 6,653 10,077
Decrease in accounts payable and accrued expenses (3,246) (2,104)
Other, net 1,133 124
Net cash used in operating activities (4,896) (4,416)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from investments sold 3,685 221
Proceeds from investments matured, called or redeemed 7,675 6,241
Investments purchased (12,000) (11,398)
Additions to property and equipment (68) (68)
Net cash used in investing activities (708) (5,004)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of dividends on common stock 0 (408)
Treasury stock acquired - net employee share-based compensation (12) (15)
Proceeds from revolving credit facility, net 1,000 1,000
Net cash provided by financing activities 988 577
Net decrease in cash and cash equivalents (4,616) (8,843)
Cash and cash equivalents at beginning of period 28,863 24,753
Cash and cash equivalents at end of period 24,247 15,910
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 1,547 726
Cash paid for income taxes $ 776 $ 899