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Unaudited Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues        
Net premiums earned $ 65,947 $ 64,448 $ 192,694 $ 187,321
Net investment income 2,073 2,192 6,456 6,587
Commissions and other income 1,800 1,519 4,887 4,441
Net realized gains on investments, excluding impairment losses 1,099 1,434 13,363 16,572
Total other-than-temporary impairment losses on investments (441) (4) (546) (78)
Portion of other-than-temporary impairment losses recognized in other comprehensive income 0 0 0 2
Net realized gains on investments 658 1,430 12,817 16,496
Total revenue 70,478 69,589 216,854 214,845
Expenses        
Losses and loss expenses incurred 38,693 36,967 118,264 109,843
Other operating expenses 23,237 20,930 66,566 63,369
Total expenses 61,930 57,897 184,830 173,212
Income before federal income taxes 8,548 11,692 32,024 41,633
Federal income taxes 2,778 3,921 10,553 14,012
Net income $ 5,770 $ 7,771 $ 21,471 $ 27,621
Per share data:        
Basic and diluted earnings (in dollars per share) $ 0.39 $ 0.52 $ 1.43 $ 1.85
Dividends paid to shareholders (in dollars per share) $ 0.25 $ 0.25 $ 0.75 $ 0.75
Reconciliation of shares outstanding:        
Average shares outstanding - basic (in shares) 14,971 14,918 14,962 14,902
Dilutive effect of share equivalents (in shares) 2 3 12 19
Average shares outstanding - diluted (in shares) 14,973 14,921 14,974 14,921