• Filing Date: 2013-03-14
  • Form Type: 10-K
  • Description: Annual report
v2.4.0.6
Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenue      
Gross premiums earned $ 233,607 $ 143,606 $ 119,757
Premiums ceded (75,939) (55,525) (57,322)
Net premiums earned 157,668 88,081 62,435
Net investment income 980 2,061 1,962
Policy fee income 2,538 1,438 1,464
Realized investment gains 276 290 2,003
Gain on bargain purchase 179 936  
Other 1,424 1,003 751
Total revenue 163,065 93,809 68,615
Expenses      
Losses and loss adjustment expenses 66,310 48,243 37,667
Policy acquisition and other underwriting expenses 25,930 18,129 14,878
Goodwill impairment loss 161    
Other operating expenses 21,084 11,032 7,484
Total expenses 113,485 77,404 60,029
Income before income taxes 49,580 16,405 8,586
Income taxes 19,423 6,441 3,164
Net income 30,157 9,964 5,422
Preferred stock dividends (322) (815)  
Income available to common stockholders $ 29,835 $ 9,149 $ 5,422
Basic earnings per common share $ 3.45 $ 1.49 $ 0.88
Diluted earnings per common share $ 3.02 $ 1.34 $ 0.81
Dividends per common share $ 0.88 $ 0.53 $ 0.30