| Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||
Net income | |||||||||
10,347 | -11,553 | 6,526 | 21,863 | 13,429 | 8,245 | 3,848 | -10,833 | 7,508 | 24,627 |
Adjustments to reconcile net income to cash provided by (used in) operating activities: | |||||||||
Depreciation and amortization expense | |||||||||
5,141 | 4,715 | 3,894 | 3,516 | 3,224 | 4,300 | 4,421 | 5,064 | 4,751 | 4,105 |
Deferred federal income taxes | |||||||||
-1,844 | -1,575 | 405 | -1,030 | -393 | -257 | -2,851 | -2,895 | -980 | -1,535 |
Investment gains, net | |||||||||
-10,195 | -205 | 2,519 | 5,826 | - | - | - | - | - | - |
Investment gains, net | |||||||||
- | - | - | - | 134 | 10,540 | 1,943 | 3,633 | 8,402 | 3,032 |
Share-based payments expense | |||||||||
152 | 149 | -118 | 383 | 222 | 352 | 380 | 709 | 1,114 | 1,334 |
Change in ceded unearned premiums | |||||||||
20,708 | 30,841 | 16,388 | 11,718 | 8,388 | 22,577 | 2,941 | -6,034 | 2,860 | 6,835 |
Change in premiums receivable | |||||||||
15,405 | 14,658 | 6,339 | 12,373 | -154 | 4,474 | 13,170 | 3,842 | 702 | 2,628 |
Change in accounts receivable | |||||||||
106 | -756 | 264 | -1,136 | 759 | -728 | -836 | -2,347 | 3,674 | -1,215 |
Change in deferred policy acquisition costs | |||||||||
-1,711 | -3,191 | -1,173 | -380 | -1,840 | -2,325 | 2,357 | 1,621 | 994 | 1,268 |
Change in unpaid losses and loss adjustment expenses | |||||||||
147 | 45,533 | -30,689 | -35,743 | -32,495 | - | - | - | - | - |
Change in unpaid losses and loss adjustment expenses | |||||||||
- | - | - | - | - | -69,224 | -16,471 | -33,088 | -49,942 | -19,735 |
Change in unearned premiums | |||||||||
21,419 | 35,388 | 24,847 | 19,581 | 11,523 | 22,801 | 16,398 | 4,801 | 6,229 | 18,084 |
Change in unearned revenue | |||||||||
- | - | - | - | - | - | - | - | - | -1,846 |
Change in accrued agent profit sharing | |||||||||
- | - | - | - | - | - | - | - | - | -361 |
Change in reinsurance recoverable | |||||||||
69,101 | 35,107 | 33,534 | 4,568 | 32,901 | 24,848 | 9,236 | -227 | 12,424 | -6,774 |
Change in reinsurance balances payable | |||||||||
14,841 | 5,999 | 12,747 | 7,338 | 5,805 | 13,268 | 4,191 | -246 | -160 | 3,281 |
Change in current federal income tax payable | |||||||||
7,536 | -3,581 | -2,172 | -2,747 | 249 | -799 | 8,256 | -2,470 | -5,359 | 1,962 |
Change in accrued ceding commission payable | |||||||||
- | - | - | - | - | - | - | - | - | -5 |
Change in all other liabilities | |||||||||
-267 | 3,091 | 3,586 | -1,368 | 7,998 | -6,551 | 5,396 | -5,707 | -2,040 | -5,783 |
Change in all other assets | |||||||||
-3,007 | -5,487 | -5,433 | 697 | 680 | -17,141 | -5,983 | -3,587 | -4,411 | -3,874 |
Net cash provided by (used in) operating activities | |||||||||
-32,935 | 7,199 | 30,854 | 52,936 | 33,684 | 68,338 | 33,682 | 24,610 | 36,360 | 61,698 |
Cash flows from investing activities: | |||||||||
Purchases of property and equipment | |||||||||
2,101 | 2,705 | 4,340 | 3,608 | 546 | 673 | 107 | 1,586 | 1,775 | 1,263 |
Acquisitions of subsidiaries, net of cash received | |||||||||
- | - | - | - | - | - | - | 13,334 | -7,404 | 7,246 |
Net transfers from restricted cash | |||||||||
- | - | -1,195 | -3,392 | -276 | 3,483 | -665 | 4,095 | 2,196 | -3,930 |
Purchases of investment securities | |||||||||
222,642 | 305,930 | 241,374 | 265,482 | 188,749 | 222,399 | 167,626 | 265,684 | 226,246 | 109,959 |
Maturities, sales and redemptions of investment securities | |||||||||
232,081 | 287,187 | 186,286 | 169,409 | 146,777 | 214,738 | 148,968 | 280,918 | 134,821 | 112,548 |
Net cash (used in ) provided by investing activities | |||||||||
7,338 | -21,448 | -58,233 | -96,289 | -42,242 | -11,817 | -18,100 | -3,781 | -87,992 | -1,990 |
Cash flows from financing activities: | |||||||||
Repayment of notes payable of acquired subsidiary | |||||||||
- | - | - | - | - | - | - | 1,660 | 0 | - |
Redemption of non-controlling interest | |||||||||
- | - | - | - | - | - | 1,700 | - | 0 | - |
Distribution to non-controlling interest | |||||||||
- | - | - | - | - | - | 281 | 165 | 144 | 20 |
Payment of contingent consideration | |||||||||
- | - | 1,784 | 1,216 | - | - | 350 | - | 0 | - |
Proceeds from exercise of employee stock options | |||||||||
242 | 231 | 466 | 658 | 1,155 | - | - | 99 | 25 | 115 |
Activity under revolving credit facility, net | |||||||||
- | - | - | 30,000 | -1,473 | - | -2,577 | 1,250 | 0 | -1,417 |
Payment of debt issuance costs | |||||||||
- | - | - | 96 | - | - | - | - | - | - |
Purchase of treasury shares | |||||||||
1,807 | 5,308 | 6,117 | 2,532 | 1,805 | - | - | 6,401 | 0 | 5,250 |
Net cash provided by (used in) financing activities | |||||||||
-1,565 | -5,077 | -7,435 | 26,814 | -2,123 | - | -4,908 | -6,877 | -119 | -6,572 |
Increase (decrease) in cash and cash equivalents and restricted cash | |||||||||
-27,162 | -19,326 | - | - | - | - | - | - | - | - |
Increase (decrease) in cash and cash equivalents | |||||||||
- | - | -34,814 | -16,539 | -10,681 | 56,521 | 10,674 | 13,952 | -51,751 | 53,136 |
Interest paid | |||||||||
- | - | 4,287 | 3,906 | - | - | - | - | - | - |
Interest paid | |||||||||
- | - | - | - | 4,576 | 4,599 | 4,656 | 4,620 | -4,594 | 4,641 |
Income taxes paid | |||||||||
- | - | 3,718 | 13,800 | 5,497 | 3,891 | -5,879 | -3,589 | -7,202 | -8,202 |
Change in receivable for securities related to investment disposals that settled after the balance sheet date | |||||||||
- | - | 7,377 | -9,492 | 388 | -1,317 | 2,614 | -402 | -2,215 | - |
Change in receivable for securities related to investment disposals that settled after the balance sheet date | |||||||||
- | - | - | - | - | - | - | - | - | 983 |
Change in payable for securities related to investment purchases that settled after the balance sheet date | |||||||||
- | - | 13,118 | -224 | 1,115 | 206 | -203 | -2,290 | 2,474 | - |
Change in payable for securities related to investment purchases that settled after the balance sheet date | |||||||||
- | - | - | - | - | - | - | - | - | -3,587 |