v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows From Operating Activities    
Net income (loss) $ 30,052 $ 17,700
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Net accretion of bond premium 216 259
Depreciation and amortization 2,926 2,496
Stock-based compensation expense 2,617 1,758
Net investment (gains) losses 478 793
Deferred income tax expense (benefit) 5,511 (2,061)
Changes in:    
Accrued investment income 1,352 354
Premiums receivable (48,458) (1,842)
Deferred policy acquisition costs (4,544) (4,626)
Reinsurance receivables 8,499 (1,392)
Prepaid reinsurance premiums 2,059 755
Income taxes receivable 532 6,284
Other assets (2,294) 11,769
Losses and loss settlement expenses 45,431 19,677
Unearned premium 31,251 22,783
Accrued expenses and other liabilities (19,584) (39,568)
Income taxes payable 1,412 0
Other, net (828) 535
Net cash provided by (used in) operating activities 56,628 35,674
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 67,642 24,318
Proceeds from call and maturity of available-for-sale investments 80,825 49,821
Proceeds from sale of other investments 154 3,148
Purchase of available-for-sale investments (181,361) (110,957)
Purchase of other investments (10,255) (11,986)
Net purchases and sales of property and equipment (384) (2,495)
Net cash provided by (used in) investing activities (43,379) (48,151)
Cash Flows From Financing Activities    
Issuance of common stock (2,439) (732)
Payment of cash dividends (5,113) (4,062)
Net cash provided by (used in) financing activities (7,552) (4,794)
Net Change in Cash and Cash Equivalents 5,697 (17,271)
Cash and Cash Equivalents at Beginning of Period 156,332 200,949
Cash and Cash Equivalents at End of Period 162,029 183,678
Supplemental Disclosures of Cash Flow Information    
Income taxes paid 496 0
Interest paid $ 3,109 $ 2,434