| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 |
|---|---|---|---|---|---|---|---|---|
Revenues: | ||||||||
Gross written premiums | ||||||||
71,494 | 73,342 | 66,242 | 58,346 | 54,031 | 43,522 | 39,994 | 37,342 | 34,033 |
Ceded written premiums | ||||||||
29,495 | 29,534 | 28,060 | 24,632 | 26,106 | 21,749 | 20,764 | 26,674 | 13,762 |
Net written premiums | ||||||||
41,999 | 43,808 | 38,182 | 33,714 | 27,925 | 21,773 | 19,230 | 10,668 | 20,271 |
Change in unearned premiums | ||||||||
-7,193 | -12,821 | -10,520 | -10,506 | -9,575 | -4,178 | -3,194 | 7,611 | -2,284 |
Net earned premiums | ||||||||
34,806 | 30,987 | 27,662 | 23,208 | 18,350 | 17,595 | 16,036 | 18,279 | 17,987 |
Net investment income | ||||||||
2,035 | 1,803 | 1,729 | 1,483 | 960 | 1,027 | 865 | 729 | 617 |
Net realized and unrealized gains on investments | ||||||||
440 | 1,178 | 361 | 493 | 2,411 | -3,539 | 1,336 | 255 | -621 |
Commission and other income | ||||||||
738 | 655 | 709 | 721 | 586 | 557 | 679 | 629 | 540 |
Total revenues | ||||||||
38,019 | 34,623 | 30,461 | 25,905 | 22,307 | 15,640 | 18,916 | 19,892 | 18,523 |
Expenses: | ||||||||
Losses and loss adjustment expenses | ||||||||
1,863 | 2,195 | 2,439 | 643 | 316 | -770 | 5,374 | 732 | 938 |
Acquisition expenses | ||||||||
13,046 | 11,070 | 10,243 | 8,971 | 6,975 | 6,592 | 6,392 | 7,450 | 7,790 |
Other underwriting expenses (includes stock-based compensation of $442 and $22,961 for the three months ended March 31, 2020 and 2019, respectively) | ||||||||
7,951 | 6,951 | 8,330 | 7,165 | 28,853 | 4,837 | 4,976 | 4,339 | 3,805 |
Interest expense | ||||||||
- | 0 | 0 | 639 | 429 | 860 | 605 | 434 | 404 |
Total expenses | ||||||||
22,860 | 20,216 | 21,012 | 17,418 | 36,573 | 11,519 | 17,347 | 12,955 | 12,937 |
Income (loss) before income taxes | ||||||||
15,159 | 14,407 | 9,449 | 8,487 | -14,266 | 4,121 | 1,569 | 6,937 | 5,586 |
Income tax expense | ||||||||
3,384 | 3,527 | 1,995 | 1,789 | 145 | -6 | 3 | 3 | -6 |
Net income | ||||||||
11,775 | 10,880 | 7,454 | 6,698 | -14,411 | 4,127 | 1,566 | 6,934 | 5,592 |
Other comprehensive income, net: | ||||||||
Net unrealized gains (losses) on securities available for sale for the three months ended March 31, 2020 and 2019, respectively | ||||||||
-5,833 | -1,210 | 974 | 3,298 | 2,187 | 958 | -309 | -91 | -899 |
Net comprehensive income (loss) | ||||||||
5,942 | 9,670 | 8,428 | 9,996 | -12,224 | 5,085 | 1,257 | 6,843 | 4,693 |
Per Share Data: | ||||||||
Basic earnings per share | ||||||||
0.49 | 0.72 | 0.32 | 0.30 | -0.85 | - | 0.09 | 0.41 | - |
Diluted earnings per share | ||||||||
0.48 | 0.73 | 0.31 | 0.30 | -0.85 | - | 0.09 | 0.41 | - |
Weighted-average common shares outstanding: | ||||||||
Earnings per share, basic and diluted | ||||||||
- | - | - | - | - | - | - | - | 0.33 |
Weighted-average common shares outstanding: | ||||||||
- | - | - | - | - | - | - | - | 17,000 |
Weighted-average common shares outstanding, basic | ||||||||
24,119 | 23,561 | 23,468 | 21,975 | 17,000 | - | 17,000 | 17,000 | - |
Weighted-average common shares outstanding, diluted | ||||||||
24,778 | 24,349 | 23,885 | 22,105 | 17,000 | - | 17,000 | 17,000 | - |