v3.26.1
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Gross premiums written $ 85,968 $ 79,704 $ 174,468 $ 163,488
Ceded premiums written (4,216) (4,185) (8,285) (8,364)
Net premiums written 81,752 75,519 166,183 155,124
Net premiums earned 77,273 69,381 152,345 138,266
Net investment income 6,528 6,691 13,125 13,343
Net realized (losses) gains on investments (87) 3,116 (90) 3,118
Net unrealized gains (losses) on equity securities 8,113 1,829 6,460 (1,323)
Fee and other income 144 71 221 281
Total revenues 91,971 81,088 172,061 153,685
Expenses        
Loss and loss adjustment expenses incurred 48,341 40,660 94,781 80,819
Underwriting and certain other operating costs 9,131 8,053 16,721 14,313
Commissions 6,973 6,234 13,666 12,289
Salaries and benefits 8,499 7,459 16,485 15,743
Policyholder dividends 767 1,239 1,996 1,873
Provision for investment related credit loss benefit (5) (12) (13) (28)
Total expenses 73,706 63,633 143,636 125,009
Income before income taxes 18,265 17,455 28,425 28,676
Income tax expense 3,670 3,500 5,685 5,772
Net income $ 14,595 $ 13,955 $ 22,740 $ 22,904
Earnings per share        
Basic $ 0.79 $ 0.73 $ 1.22 $ 1.2
Diluted $ 0.78 $ 0.73 $ 1.21 $ 1.2
Shares used in computing earnings per share        
Basic 18,579,890 19,038,360 18,669,214 19,037,339
Diluted 18,702,282 19,119,600 18,795,904 19,120,530
Cash dividends declared per common share $ 0.41 $ 0.39 $ 0.82 $ 0.78