v3.25.4
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Fixed maturities    
Held to maturity, at amortized cost (fair value $731,659,323 and $631,568,929; net of allowance for expected credit losses of $1,312,903 and $1,388,240) $ 776,447,347 $ 705,713,916
Available for sale, at fair value (amortized cost $650,370,011 and $652,564,965) 640,722,775 617,891,862
Equity securities, at fair value 44,370,358 36,807,810
Short-term investments, at cost, which approximates fair value 38,712,341 24,558,744
Total investments 1,500,252,821 1,384,972,332
Cash 26,785,845 52,925,931
Accrued investment income 10,914,235 10,361,959
Premiums receivable 180,803,918 181,106,519
Reinsurance receivable (net of allowance for expected credit losses of $374,883 and $391,432) 398,582,136 420,741,855
Deferred policy acquisition costs 68,669,982 73,346,967
Deferred tax asset, net 13,287,301 18,769,861
Prepaid reinsurance premiums 171,083,219 176,161,872
Property and equipment, net 2,329,491 2,479,183
Accounts receivable - securities 0 24,924
Federal income taxes recoverable 4,028,034 0
Due from affiliate 3,299,188 8,410,090
Goodwill 5,625,354 5,625,354
Other intangible assets 958,010 958,010
Other 9,918 147,126
Total assets 2,386,629,452 2,336,031,983
Liabilities    
Losses and loss expenses 1,100,049,937 1,120,985,050
Unearned premiums 591,040,451 612,476,068
Accrued expenses 2,220,800 2,916,705
Reinsurance balances payable 3,484,130 4,345,426
Borrowings under lines of credit 35,000,000 35,000,000
Cash dividends declared to stockholders 6,647,482 6,031,078
Federal income taxes payable 0 356,103
Other 7,768,573 8,145,422
Total liabilities 1,746,211,373 1,790,255,852
Stockholders’ Equity    
Preferred stock, $.01 par value, authorized 2,000,000 shares; none issued 0 0
Additional paid-in capital 391,811,397 369,679,946
Accumulated other comprehensive loss (8,295,743) (28,200,481)
Retained earnings 297,728,438 245,136,987
Treasury stock, at cost (41,226,357) (41,226,357)
Total stockholders’ equity 640,418,079 545,776,131
Total liabilities and stockholders’ equity 2,386,629,452 2,336,031,983
Class A Common Stock [Member]    
Stockholders’ Equity    
Common stock value 343,852 329,544
Class B Common Stock [Member]    
Stockholders’ Equity    
Common stock value $ 56,492 $ 56,492