v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Investments:    
Fixed maturity securities-held-to-maturity, at amortized cost net of allowance for credit losses of $60 and $73 at June 30, 2026 and December 31, 2025, respectively, (fair value $327,158 and $344,576 at June 30, 2026, and December 31, 2025, respectively) $ 332,714 $ 350,087
Fixed maturity securities-available-for-sale, at fair value (amortized cost $290,264, allowance for credit losses of $0 at June 30, 2026 and amortized cost $317,116, allowance for credit losses of $0 at December 31, 2025) 285,249 313,038
Equity securities, at fair value (cost $31,164 and $31,165 at June 30, 2026 and December 31, 2025, respectively) 63,952 57,493
Short-term investments 23,272 14,237
Total investments 705,187 734,855
Cash and cash equivalents 65,476 61,926
Amounts recoverable from reinsurers (net of allowance for credit losses of $217 and $264 at June 30, 2026 and December 31, 2025, respectively) 105,659 108,098
Premiums receivable (net of allowance for credit losses of $4,159 and $4,172 at June 30, 2026 and December 31, 2025, respectively) 183,135 160,944
Deferred income taxes 17,264 17,572
Accrued interest receivable 6,930 6,963
Property and equipment, net 6,951 7,293
Deferred policy acquisition costs 22,618 21,085
Federal income tax recoverable 1,020 3,088
Other assets 13,051 8,720
Total assets 1,127,291 1,130,544
Liabilities:    
Reserves for loss and loss adjustment expenses 594,090 613,583
Unearned premiums 149,341 135,503
Amounts held for others 43,530 39,139
Policyholder deposits 32,572 33,532
Insurance-related assessments 18,293 15,979
Accounts payable and other liabilities 39,474 39,178
Payable for investments purchased 0 2,032
Total liabilities 877,300 878,946
Shareholders’ equity:    
Common stock: voting-$0.01 par value authorized shares-50,000,000 in 2026 and 2025; 20,814,250 and 20,769,021 shares issued; and 18,536,058 and 18,794,881 shares outstanding at June 30, 2026 and December 31, 2025, respectively 208 208
Additional paid-in capital 227,323 225,912
Treasury stock, at cost (2,278,192 and 1,974,140 shares at June 30, 2026 and December 31, 2025, respectively) (63,810) (54,155)
Accumulated earnings 90,250 82,850
Accumulated other comprehensive loss, net (3,980) (3,217)
Total shareholders’ equity 249,991 251,598
Total liabilities and shareholders’ equity $ 1,127,291 $ 1,130,544