v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows From Operating Activities    
Net income (loss) $ 63,417 $ 40,647
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Net accretion of bond premium 107 799
Depreciation and amortization 5,601 4,992
Stock-based compensation expense 5,300 3,699
Net investment (gains) losses 1,005 1,900
Deferred income tax expense (benefit) 1,072 (6,370)
Changes in:    
Accrued investment income (412) (523)
Premiums receivable (101,773) (61,859)
Deferred policy acquisition costs (17,705) (14,752)
Reinsurance receivables 2,313 (16,993)
Prepaid reinsurance premiums (2,026) 5,155
Other assets (2,101) 14,422
Losses and loss settlement expenses 65,591 63,349
Unearned premium 89,297 78,227
Accrued expenses and other liabilities (20,687) (35,150)
Income taxes receivable/payable 2,037 8,745
Other, net (161) 2,776
Net cash provided by (used in) operating activities 90,875 89,064
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 144,612 24,318
Proceeds from call and maturity of available-for-sale investments 150,198 111,233
Proceeds from sale of other investments 12,569 6,085
Purchase of available-for-sale investments (396,702) (186,832)
Purchase of other investments (5,050) (29,076)
Net purchases and sales of property and equipment (900) (4,233)
Net cash provided by (used in) investing activities (95,273) (78,505)
Cash Flows From Financing Activities    
Issuance of common stock (2,236) (1,218)
Payment of cash dividends (10,253) (8,141)
Net cash provided by (used in) financing activities (12,489) (9,359)
Net Change in Cash and Cash Equivalents (16,887) 1,200
Cash and Cash Equivalents at Beginning of Period 156,332 200,949
Cash and Cash Equivalents at End of Period 139,445 202,149
Supplemental Disclosures of Cash Flow Information    
Income taxes paid (refunded) 13,799 9,850
Interest paid $ 6,219 $ 4,869