v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets:    
Cash and cash equivalents $ 51,609 $ 51,715
Fixed income securities, at fair value (amortized cost $314,055 and $314,804; net of allowance for expected credit losses of $0 and $0) 298,374 301,393
Equity securities, at fair value (cost $19,753 and $20,926) 24,873 23,951
Other investments 1,619 1,621
Total cash and investments 376,475 378,680
Premiums and agents' balances receivable (net of allowance for expected credit losses of $301 and $334) 77,789 41,575
Deferred policy acquisition costs 21,895 19,209
Reinsurance recoverables on losses (net of allowance for expected credit losses of $0 and $0) 12,441 11,957
Income tax recoverable 9,125 11,490
Accrued investment income 2,494 2,462
Property and equipment, net 6,490 6,759
Deferred income taxes 6,075 6,145
Receivable from Federal Crop Insurance Corporation 16,380 15,605
Other assets 13,970 12,120
Total assets 543,134 506,002
Liabilities:    
Unpaid losses and loss adjustment expenses 134,757 137,855
Unearned premiums 132,424 106,498
Reinsurance premiums payable 2,000 878
Accrued expenses and other liabilities 24,577 20,434
Total liabilities 293,758 265,665
Shareholders’ equity:    
Common stock, $0.01 par value, authorized: 25,000,000 shares; issued: 23,000,000 shares; and outstanding: 2026 – 20,431,819 shares, 2025 – 20,554,144 shares 230 230
Additional paid-in capital 95,773 95,932
Unearned employee stock ownership plan shares (212) (212)
Retained earnings 203,596 191,074
Accumulated other comprehensive loss, net of income taxes (12,388) (10,595)
Treasury stock, at cost, 2026 – 2,547,016 shares, 2025 – 2,424,691 shares (37,623) (36,092)
Total shareholders’ equity 249,376 240,337
Total liabilities and shareholders’ equity $ 543,134 $ 506,002