v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Investments:    
Fixed maturity securities-held-to-maturity, at amortized cost net of allowance for credit losses of $65 and $73 at March 31, 2026 and Decemeber 31, 2025, respectively, (fair value $332,659 and $344,576 at March 31, 2026 and Decemeber 31, 2025, respectively) $ 340,546 $ 350,087
Fixed maturity securities - available-for-sale, at fair value (amortized cost $321,312, allowance for credit losses of $0 at March 31, 2026 and amortized cost $317,116, allowance for credit losses of $0 at Decemebr 31, 2025) 314,211 313,038
Equity securities, at fair value (cost $31,164 and $31,165 at March 31, 2026 and December 31, 2025, respectively) 55,840 57,493
Short-term investments 28,753 14,237
Total investments 739,350 734,855
Cash and cash equivalents 34,226 61,926
Amounts recoverable from reinsurers (net of allowance for credit losses of $227 and $264 at March 31, 2026 and December 31, 2025, respectively) 104,802 108,098
Premiums receivable (net of allowance for credit losses of $4,313 and $4,172 at March 31, 2026 and December 31, 2025, respectively) 175,210 160,944
Deferred income taxes 18,322 17,572
Accrued interest receivable 7,196 6,963
Property and equipment, net 7,144 7,293
Deferred policy acquisition costs 22,126 21,085
Federal income tax recoverable 1,197 3,088
Other assets 13,386 8,720
Total assets 1,122,959 1,130,544
Liabilities:    
Reserves for loss and loss adjustment expenses 601,861 613,583
Unearned premiums 144,862 135,503
Amounts held for others 41,105 39,139
Policyholder deposits 33,159 33,532
Insurance-related assessments 16,774 15,979
Accounts payable and other liabilities 37,766 39,178
Payable for investments purchased 835 2,032
Total liabilities 876,362 878,946
Shareholders’ equity:    
Common stock: voting - $0.01 par value authorized shares - 50,000,000 in 2026 and 2025; 20,797,870 and 20,769,021 shares issued; and 18,703,771and 18,794,881 shares outstanding at March 31,2026 and December 31,2025, respectively 208 208
Additional paid-in capital 226,944 225,912
Treasury stock, at cost (2,094,099 and 1,974,140 shares at March 31, 2026 and December 31,2025, respectively) (58,186) (54,155)
Accumulated earnings 83,296 82,850
Accumulated other comprehensive loss, net (5,665) (3,217)
Total shareholders’ equity 246,597 251,598
Total liabilities and shareholders’ equity $ 1,122,959 $ 1,130,544