v3.26.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Investments:    
Fixed maturity securities-held-to-maturity, at amortized cost net of allowance for credit losses of $58 and $73 at September 30, 2026 and December 31, 2025, respectively, (fair value $299,849 and $344,576 at September 30, 2026, and December 31, 2025, respectively) $ 323,658 $ 350,087
Fixed maturity securities-available-for-sale, at fair value (amortized cost $288,250, allowance for credit losses of $0 at September 30, 2026 and amortized cost $317,116, allowance for credit losses of $0 at December 31, 2025) 267,483 313,038
Equity securities, at fair value (cost $31,164 and $31,165 at September 30, 2026 and December 31, 2025, respectively) 63,759 57,493
Short-term investments 58,687 14,237
Total investments 713,587 734,855
Cash and cash equivalents 39,678 61,926
Amounts recoverable from reinsurers (net of allowance for credit losses of $241 and $264 at September 30, 2026 and December 31, 2025, respectively) 108,180 108,098
Premiums receivable (net of allowance for credit losses of $4,415 and $4,172 at September 30, 2026 and December 31, 2025, respectively) 178,665 160,944
Deferred income taxes 19,843 17,572
Accrued interest receivable 7,038 6,963
Property and equipment, net 6,812 7,293
Deferred policy acquisition costs 22,383 21,085
Federal income tax recoverable 1,660 3,088
Other assets 12,191 8,720
Total assets 1,110,037 1,130,544
Liabilities:    
Reserves for loss and loss adjustment expenses 586,089 613,583
Unearned premiums 148,737 135,503
Amounts held for others 44,488 39,139
Policyholder deposits 31,691 33,532
Insurance-related assessments 18,699 15,979
Accounts payable and other liabilities 39,547 39,178
Payable for investments purchased 3,533 2,032
Total liabilities 872,784 878,946
Shareholders’ equity:    
Common stock: voting-$0.01 par value authorized shares-50,000,000 in 2026 and 2025; 20,816,661 and 20,769,021 shares issued; and 18,794,881 and 18,794,881 shares outstanding at September 30, 2026 and December 31, 2025, respectively 208 208
Additional paid-in capital 227,702 225,912
Treasury stock, at cost (2,283,642 and 1,974,140 shares at September 30, 2026 and December 31, 2025, respectively) (63,974) (54,155)
Accumulated earnings 89,806 82,850
Accumulated other comprehensive loss, net (16,489) (3,217)
Total shareholders’ equity 237,253 251,598
Total liabilities and shareholders’ equity $ 1,110,037 $ 1,130,544