| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||
Net loss | |||||||||
-5,966 | 3,093 | 9,986 | 8,899 | 6,959 | 5,328 | 2,012 | 766 | 2,503 | 983 |
Adjustments to reconcile net loss to net cash flows (used in) provided by operating activities: | |||||||||
Net (gains) losses on sale of investments | |||||||||
-28 | 93 | -84 | -529 | 50 | -707 | -575 | -288 | -523 | -349 |
Net unrealized losses (gains) of equity investments | |||||||||
-3,832 | 2,257 | 0 | - | - | - | - | - | - | - |
Net unrealized losses (gains) of other investments | |||||||||
-729 | 144 | 0 | - | - | - | - | - | - | - |
Depreciation and amortization | |||||||||
2,545 | 1,787 | 1,402 | 1,124 | 1,032 | 874 | 646 | 596 | 602 | 615 |
Bad debts | |||||||||
-112 | -252 | - | - | - | - | - | - | - | - |
Amortization of bond premium, net | |||||||||
417 | 373 | 548 | 449 | 323 | 260 | 203 | 128 | 150 | 76 |
Amortization of discount and issuance costs on long-term debt | |||||||||
176 | 168 | 5 | 0 | - | - | - | - | - | - |
Stock-based compensation | |||||||||
1,501 | 702 | 270 | 106 | 134 | 171 | 59 | 48 | 105 | 348 |
Excess tax benefit from exercise of stock options | |||||||||
- | - | - | -0 | -223 | -136 | 0 | -160 | 0 | - |
Deferred income tax expense | |||||||||
-1,991 | -5 | -1 | -293 | -226 | 113 | -724 | -338 | -325 | 724 |
(Increase) decrease in operating assets: | |||||||||
Short term investments | |||||||||
- | - | - | - | - | - | - | - | - | 225 |
Premiums receivable, net | |||||||||
1,367 | -491 | -1,568 | -1,027 | -1,674 | -1,356 | 176 | -1,987 | -777 | -522 |
Receivables - reinsurance contracts | |||||||||
- | - | - | - | 1,301 | - | - | - | - | - |
Receivables - reinsurance contracts | |||||||||
- | - | - | - | - | -326 | -974 | 1,734 | -559 | -610 |
Reinsurance receivables, net | |||||||||
-14,383 | 2,152 | 3,678 | -927 | 4,305 | 1,985 | 1,341 | -15,021 | -3,160 | 129 |
Deferred policy acquisition costs | |||||||||
-2,726 | -3,060 | -2,607 | -1,404 | -1,849 | -2,125 | -1,290 | -1,034 | -916 | -701 |
Other assets | |||||||||
-1,096 | -3,215 | -1,228 | -615 | 224 | 273 | 358 | -742 | 876 | -912 |
Increase (decrease) in operating liabilities: | |||||||||
Loss and loss adjustment expense reserves | |||||||||
24,301 | 7,397 | 7,062 | 1,860 | -36 | 5,409 | 4,017 | 12,004 | 768 | 1,198 |
Unearned premiums | |||||||||
11,351 | 13,384 | 10,653 | 6,104 | 8,432 | 8,122 | 6,323 | 4,729 | 4,005 | 3,189 |
Advance premiums | |||||||||
1,083 | 629 | 56 | 222 | 192 | 230 | 165 | 66 | 134 | -1 |
Reinsurance balances payable | |||||||||
9,781 | -630 | 417 | 457 | -407 | -470 | 746 | -941 | 1,654 | -811 |
Advance payments from catastrophe reinsurers | |||||||||
- | - | - | - | - | - | -7,358 | 7,358 | - | - |
Advance payments from catastrophe reinsurers | |||||||||
- | - | - | - | - | - | - | - | 0 | - |
Deferred ceding commission revenue | |||||||||
5,048 | -1,579 | -2,585 | 416 | 478 | -1,027 | 2,107 | 894 | 762 | -78 |
Accounts payable, accrued expenses and other liabilities | |||||||||
3,152 | -653 | 2,039 | 358 | 1,385 | 712 | 147 | -1,437 | 1,951 | 106 |
Net cash provided by (used in) operating activities of continuing operations | |||||||||
- | - | - | - | - | - | - | - | - | 3,610 |
Operating activities of discontinued operations | |||||||||
- | - | - | - | - | - | - | - | - | 111 |
Net cash flows (used in) provided by operating activities | |||||||||
29,859 | 22,295 | 28,046 | 15,201 | 20,401 | 17,332 | 7,383 | 6,375 | 7,253 | 3,721 |
Cash flows from investing activities: | |||||||||
Purchase - fixed-maturity securities available-for-sale | |||||||||
9,578 | 13,380 | 7,526 | 7,464 | 3,766 | 8,520 | 6,073 | 2,835 | 3,602 | 2,740 |
Purchase - fixed-maturity securities held-to-maturity | |||||||||
- | - | 121 | 0 | - | - | - | - | - | - |
Purchase - fixed-maturity securities held-to-maturity | |||||||||
- | - | - | - | - | 2,715 | 1,791 | 0 | - | - |
Purchase - fixed-maturity securities held to maturity | |||||||||
- | - | - | - | - | - | - | - | - | 605 |
Purchase - equity securities | |||||||||
23,881 | 58,542 | 50,396 | 36,551 | 19,152 | 28,826 | 9,124 | 6,902 | 9,483 | 7,073 |
Sale or maturity - fixed-maturity securities available-for-sale | |||||||||
400 | 624 | 247 | 0 | 6,577 | 6,823 | 5,850 | 4,322 | 3,532 | 3,575 |
Sale or maturity - fixed-maturity securities, available-for-sale | |||||||||
16,567 | 21,381 | 11,132 | 17,752 | - | - | - | - | - | - |
Sale - equity securities | |||||||||
5,458 | 9,246 | 3,862 | 7,073 | 2,689 | 7,970 | 4,868 | 1,726 | 2,771 | 2,099 |
Investment subscription receivable | |||||||||
- | - | -2,000 | 0 | - | - | - | - | - | - |
Acquisition of fixed assets | |||||||||
3,939 | 2,731 | 2,824 | 576 | 1,260 | 808 | - | - | - | - |
Recovery of loss from failed bank | |||||||||
- | - | - | - | 0 | 51 | 0 | - | - | - |
Recovery of loss from failed bank | |||||||||
- | - | - | - | - | - | - | - | 133 | 0 |
Collections of notes receivable and accrued interest - sale of businesses | |||||||||
- | - | - | - | - | - | - | - | 311 | 414 |
Other investing activities | |||||||||
- | - | - | -250 | -10 | -27 | 307 | 272 | 188 | 65 |
Net cash flows provided by (used in) investing activities | |||||||||
-14,973 | -43,401 | -47,626 | -19,515 | -14,902 | -25,998 | -6,577 | -3,961 | -6,525 | -4,395 |
Cash flows from financing activities: | |||||||||
Net proceeds from issuance of common stock | |||||||||
- | - | 30,136 | 4,807 | 0 | - | 18,804 | 0 | - | - |
Net proceeds from issuance of long-term debt | |||||||||
- | - | 29,121 | 0 | - | - | - | - | - | - |
Proceeds from line of credit | |||||||||
- | - | - | - | - | - | 310 | 640 | 300 | 0 |
Principal payments on line of credit | |||||||||
- | - | - | - | - | - | 760 | 490 | 0 | - |
Proceeds from long term debt (includes $200,000 from related parties in 2010) | |||||||||
- | - | - | - | - | - | - | - | - | 400 |
Principal payments on notes payable (includes $378,000 to related parties) | |||||||||
- | - | - | - | - | - | 747 | 0 | 713 | 24 |
Proceeds from exercise of stock options | |||||||||
23 | 90 | 77 | 54 | 0 | 5 | 11 | 47 | 0 | - |
Withholding taxes paid on net exercise of stock options | |||||||||
- | - | - | - | - | - | 0 | -143 | - | - |
Withholding taxes paid on net exercise of stock options | |||||||||
0 | -1,357 | 0 | 0 | 223 | 136 | 0 | 160 | - | - |
Withholding taxes paid on vest restricted stock awards | |||||||||
154 | 51 | 27 | 0 | 243 | 133 | - | - | - | - |
Purchase of treasury stock | |||||||||
0 | 540 | 176 | 113 | 278 | 46 | - | - | - | - |
Withholding taxes paid on cashless exercise of stock options | |||||||||
- | - | - | - | - | - | - | - | 0 | - |
Excess tax benefit from exercise of stock options | |||||||||
- | - | - | - | - | - | - | - | 0 | - |
Purchase of treasury stock | |||||||||
- | - | - | - | - | - | 129 | 27 | 237 | 0 |
Dividends paid | |||||||||
3,501 | 4,279 | 3,214 | 1,941 | 1,557 | 1,312 | 612 | 533 | 230 | 0 |
Net cash flows used in financing activities | |||||||||
-3,632 | -6,137 | 55,917 | 2,807 | -1,855 | -1,349 | 16,876 | -347 | -881 | 375 |
Decrease in cash and cash equivalents | |||||||||
11,253 | -27,243 | 36,337 | -1,506 | 3,644 | -10,015 | 17,682 | 2,066 | -153 | -298 |
Supplemental disclosures of cash flow information: | |||||||||
Cash paid for income taxes | |||||||||
388 | 2,201 | 5,773 | 6,028 | 3,596 | 2,555 | 2,174 | 1,863 | 1,175 | 1,227 |
Cash paid for interest | |||||||||
1,650 | 1,700 | 0 | - | - | - | - | - | - | - |
Cash paid for interest | |||||||||
- | - | - | - | - | 0 | 108 | 81 | 172 | 138 |
Value of shares deducted from exercise of stock options for payment of withholding taxes | |||||||||
- | - | - | - | 243 | 133 | 0 | 143 | 0 | - |
Mandatorily redeemable preferred stock exchanged for common stock | |||||||||
- | - | - | - | - | - | - | - | - | 1,299 |