v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2026
Dec. 31, 2025
Assets    
Short-term investments, at fair value (cost of $1,486,371 at September 30, 2026 and $0 at December 31, 2025) $ 1,482,405 $ 0
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $4,789,397 at September 30, 2026 and $5,137,267 at December 31, 2025) 6,038,334 6,042,348
Fixed-maturity securities, available-for-sale, at fair value, net of allowance for credit loss of $7,295 at September 30, 2026 and $0 at December 31, 2025 (amortized cost of $339,039,442 at September 30, 2026 and $296,738,055 at December 31, 2025) 315,980,512 289,037,190
Equity securities, at fair value (cost of $13,598,454 at September 30, 2026 and $13,546,654 at December 31, 2025) 9,186,878 10,056,595
Other investments 4,367,262 4,552,378
Total investments 337,055,391 309,688,511
Cash and cash equivalents 20,789,875 12,178,730
Premiums receivable, net of allowance for credit losses of $97,017 at September 30, 2026 and $20,831 at December 31, 2025 20,252,585 21,012,408
Reinsurance receivables, net 54,854,557 58,996,945
Prepaid reinsurance 1,673,206 2,142,329
Deferred policy acquisition costs 26,219,124 27,867,207
Intangible assets 500,000 500,000
Property and equipment, net 8,237,039 7,897,675
Deferred income taxes, net 7,465,128 4,179,559
Other assets 11,684,465 8,961,787
Total assets 488,731,370 453,425,151
Liabilities    
Loss and loss adjustment expense reserves 158,457,641 140,538,618
Unearned premiums 162,401,533 154,028,072
Advance premiums 8,412,395 4,003,453
Reinsurance balances payable 3,888,399 5,232,319
Deferred ceding commission revenue 174,251 8,362,529
Accounts payable, accrued expenses and other liabilities 11,390,227 11,253,649
Income taxes payable 3,789,983 2,835,135
Debt, net (current $1,354,999 and long-term $2,119,590 at September 30, 2026, current $1,296,900 and long-term $3,143,227 at December 31, 2025) 3,474,589 4,440,127
Total liabilities 351,989,018 330,693,902
Commitments and Contingencies (Note 11)
Stockholders' Equity    
Preferred stock, $0.01 par value; authorized 2,500,000 shares 0 0
Common stock, $0.01 par value; authorized 20,000,000 shares; issued 16,025,218 shares at September 30, 2026 and 15,921,651 shares at December 31, 2025; outstanding 14,481,647 shares at September 30, 2026 and 14,397,526 shares at December 31, 2025 160,252 159,216
Capital in excess of par 101,125,525 99,624,713
Accumulated other comprehensive loss (18,211,772) (6,081,530)
Retained earnings 59,528,187 34,596,857
Treasury stock, at cost, 1,543,571 shares at September 30, 2026 and 1,524,125 at December 31, 2025 (5,859,840) (5,568,007)
Total stockholders' equity 136,742,352 122,731,249
Total liabilities and stockholders' equity $ 488,731,370 $ 453,425,151