• Filing Date: 2012-03-30
  • Form Type: 10-K
  • Description: Annual report
v2.4.0.6
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Assets    
Fixed maturity securities, available-for-sale, at fair value (amortized cost $34,147 and $28,456) $ 34,642 $ 28,564
Equity securities, available-for-sale, at fair value 5,207 884
Time deposits 12,427 14,033
Other investments 6,483  
Total investments 58,759 43,481
Cash and cash equivalents 100,355 54,849
Accrued interest and dividends receivable 408 180
Premiums receivable 12,222 5,822
Assumed reinsurance balances receivable 1,687 26
Prepaid reinsurance premiums 14,169 17,787
Deferred policy acquisition costs 12,321 9,407
Property and equipment, net 10,499 7,755
Goodwill 161  
Deferred income taxes 2,368 584
Other assets 1,869 1,057
Total assets 214,818 140,948
Liabilities and Stockholders' Equity    
Losses and loss adjustment expenses 27,424 22,146
Unearned premiums 108,677 65,034
Advance premiums 2,132 1,114
Accrued expenses 3,478 2,385
Income taxes payable 4,956 310
Dividends payable 218  
Other liabilities 4,103 3,330
Total liabilities 150,988 94,319
Commitments and contingencies (Notes 1, 6, 14 and 15)      
Stockholders' equity:    
Preferred stock (no par value, 18,500,000 shares authorized, no shares issued or outstanding)      
Common stock, (no par value, 40,000,000 shares authorized, 6,202,485 and 6,205,396 shares issued and outstanding in 2011 and 2010)      
Additional paid-in capital 29,636 18,606
Retained earnings 33,986 28,065
Accumulated other comprehensive income (loss) 208 (42)
Total stockholders' equity 63,830 46,629
Total liabilities and stockholders' equity 214,818 140,948
7% Series A Cumulative Convertible Preferred Stock [Member]
   
Stockholders' equity:    
Preferred stock (no par value, 18,500,000 shares authorized, no shares issued or outstanding)