• Filing Date: 2012-03-30
  • Form Type: 10-K
  • Description: Annual report
v2.4.0.6
Consolidated Statements Of Earnings (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Revenue    
Gross premiums earned $ 143,606 $ 119,757
Premiums ceded (56,360) (57,322)
Net premiums earned 87,246 62,435
Net investment income 2,180 1,962
Realized investment gains 267 2,003
Policy fee income 1,438 1,464
Gain on bargain purchase 936  
Other 2,772 751
Total revenue 94,839 68,615
Expenses    
Losses and loss adjustment expenses 48,243 37,667
Policy acquisition and other underwriting expenses 18,129 14,878
Other operating expenses 12,062 7,484
Total expenses 78,434 60,029
Income before income taxes 16,405 8,586
Income taxes 6,441 3,164
Net income 9,964 5,422
Preferred stock dividends (815)  
Income available to common stockholders $ 9,149 $ 5,422
Basic earnings per common share $ 1.49 $ 0.88
Diluted earnings per common share $ 1.34 $ 0.81
Dividends per common share $ 0.53 $ 0.30