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) $ 12,654 $ (5,591)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Net investment gains (losses) (3,767) (459)
Deferred income tax expense (benefit) 547 (1,452)
Depreciation of property and equipment 290 344
Share-based compensation 665 724
Amortization of deferred policy acquisition costs 24,122 32,902
Deferral of policy acquisition costs (26,808) (32,922)
Net amortization of premiums and discounts on investments 221 174
Gain on sale of property and equipment (8) (9)
Changes in operating assets and liabilities:    
Premiums and agents’ balances receivable (36,214) (32,697)
Reinsurance premiums receivable / payable 1,122 7,603
Reinsurance recoverables on losses (484) (38,717)
Income tax recoverable / payable 2,365 (3,382)
Accrued investment income (32) (69)
Federal Crop Insurance Corporation receivable / payable (775) 1,891
Other assets (1,850) (61)
Unpaid losses and loss adjustment expenses (3,098) 66,242
Unearned premiums 25,926 16,391
Accrued expenses and other liabilities 4,169 5,377
Total adjustments (13,609) 21,880
Net cash flows from operating activities (955) 16,289
Cash flows from investing activities:    
Proceeds from maturities and sales of fixed income securities 31,458 13,714
Proceeds from sales of equity securities 7,383 3,098
Purchases of fixed income securities (30,914) (23,641)
Purchases of equity securities (4,553) (3,255)
Purchases of property and equipment (61) (182)
Proceeds from sales of property and equipment 49 20
Net cash flows from investing activities 3,362 (10,246)
Cash flows from financing activities:    
Purchase of treasury stock (2,306)
Principal repayments of finance leases (26) (53)
Issuance of vested award shares (181) (136)
Net cash flows from financing activities (2,513) (189)
Net increase (decrease) in cash and cash equivalents (106) 5,854
Cash and cash equivalents at beginning of period 51,715 50,930
Cash and cash equivalents at end of period 51,609 56,784
Federal and state income taxes paid (net of refunds received) $ 374 $ 2,975