|
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
|
Dec. 31, 2014
|
Dec. 31, 2013
|
| ASSETS |
|
|
| Investments, available-for-sale at fair value (amortized cost of $119,119 and $126,873, respectively) |
$ 125,085 |
$ 130,248 |
| Cash and cash equivalents |
102,429 |
72,033 |
| Premiums and fees receivable, net of allowance of $392 and $311, respectively |
56,344 |
46,228 |
| Deferred tax asset, net |
16,521 |
|
| Other investments |
10,530 |
7,513 |
| Other assets |
6,234 |
6,471 |
| Property and equipment, net |
3,173 |
3,512 |
| Deferred acquisition costs |
3,459 |
2,902 |
| Identifiable intangible assets |
4,800 |
4,800 |
| TOTAL ASSETS |
328,575 |
273,707 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
| Loss and loss adjustment expense reserves |
96,613 |
84,286 |
| Unearned premiums and fees |
67,942 |
55,983 |
| Debentures payable |
40,341 |
40,301 |
| Other liabilities |
16,715 |
16,205 |
| Total liabilities |
221,611 |
196,775 |
| Stockholders’ equity: |
|
|
| Preferred stock, $.01 par value, 10,000 shares authorized |
|
|
| Common stock, $.01 par value, 75,000 shares authorized; 41,016 and 40,983 shares issued and outstanding, respectively |
410 |
410 |
| Additional paid-in capital |
457,242 |
456,993 |
| Accumulated other comprehensive income, net of tax of $923 and $0, respectively |
5,090 |
3,375 |
| Accumulated deficit |
(355,778) |
(383,846) |
| Total stockholders’ equity |
106,964 |
76,932 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$ 328,575 |
$ 273,707 |