• Filing Date: 2013-03-14
  • Form Type: 10-K
  • Description: Annual report
v2.4.0.6
Quarterly Results of Operations (Unaudited)
12 Months Ended
Dec. 31, 2012
Quarterly Results of Operations (Unaudited) [Abstract]  
Quarterly Results of Operations (Unaudited)

Note 14 – Quarterly Results of Operations (Unaudited)

The tables below summarize unaudited quarterly results of operations for 2012, 2011 and 2010 (in thousands, except per share data).

 

                                 
    Three Months Ended  
    03/31/12     06/30/12     09/30/12     12/31/12  

Net premiums earned

  $ 40,431       37,070       30,603       49,564  

Total revenue

    41,652       38,855       31,481       51,077  

Losses and loss adjustment expenses

    19,168       16,197       15,017       15,928  

Policy acquisition and other underwriting expenses

    6,836       6,243       6,611       6,240  

Total expenses

    30,271       26,846       26,356       30,012  

Income before income taxes

    11,381       12,009       5,125       21,065  

Net income

    6,968       7,262       2,826       13,101  

Net income available to common stockholders

    6,787       7,199       2,784       13,065  

Earnings per share:

                               

Basic

  $ 1.07     $ 0.85     $ 0.30     $ 1.27  

Diluted

  $ 0.88     $ 0.74     $ 0.27     $ 1.19  

 

                                 
    Three Months Ended  
    03/31/11     06/30/11     09/30/11     12/31/11  

Net premiums earned

  $ 16,674       17,044       18,530       35,833  

Total revenue

    18,049       19,481       19,713       36,566  

Losses and loss adjustment expenses

    10,403       10,523       10,431       16,886  

Policy acquisition and other underwriting expenses

    4,263       2,780       3,529       7,557  

Total expenses

    16,794       15,660       16,407       28,543  

Income before income taxes

    1,255       3,821       3,306       8,023  

Net income

    793       2,301       2,074       4,796  

Net income available to common stockholders

    776       1,940       1,856       4,578  

Earnings per share:

                               

Basic

  $ 0.13     $ 0.32     $ 0.30     $ 0.74  

Diluted

  $ 0.12     $ 0.30     $ 0.27     $ 0.62  

 

                                 
    Three Months Ended  
    03/31/10     06/30/10     09/30/10     12/31/10  

Net premiums earned

  $ 16,241       15,645       15,084       15,465  

Total revenue

    16,987       17,411       17,072       17,145  

Losses and loss adjustment expenses

    9,813       10,863       8,783       8,208  

Policy acquisition and other underwriting expenses

    4,292       2,668       3,730       4,188  

Total expenses

    15,801       15,417       14,534       14,277  

Income before income taxes

    1,186       1,994       2,538       2,868  

Net income

    698       1,282       1,657       1,785  

Net income available to common stockholders

    698       1,282       1,657       1,785  

Earnings per share:

                               

Basic

  $ 0.11     $ 0.21     $ 0.27     $ 0.29  

Diluted

  $ 0.10     $ 0.19     $ 0.25     $ 0.27