Protective insurance corp (PTVCA)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues
Net premiums earned

109,659

111,356

110,288

115,631

110,013

118,671

96,807

111,940

105,462

97,075

89,100

67,996

73,974

69,141

71,235

68,726

66,909

65,995

65,445

65,449

66,446

68,933

65,947

62,905

63,842

65,422

64,448

61,775

61,098

61,402

54,853

59,655

61,551

64,196

60,429

62,344

57,601

52,588

53,523

Net investment income

7,236

6,814

6,703

6,500

6,232

6,038

5,578

5,796

4,636

5,660

4,027

4,716

3,692

3,981

3,513

3,549

3,440

3,771

3,014

2,898

2,815

2,598

2,073

2,090

2,294

2,183

2,192

1,985

2,410

2,734

2,343

2,431

2,422

2,653

2,779

2,644

2,653

2,865

2,944

Amount of fees and commissions from financial services and banking activities and correspondent clearing. Includes fees from depositor accounts, credit cards, merchant discounts, and fiduciary and trust activities, guarantee fees, investment advisory, management, and administrative fees, transfer agent fees, insurance commissions, and income classified as other.

1,663

2,413

2,716

1,978

2,064

2,442

3,413

2,263

1,814

1,520

1,407

1,400

981

1,241

1,207

1,463

1,364

-

1,173

1,501

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized losses on investments, excluding impairment losses

4,787

-

-

-

39

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Commissions and other income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,297

-

1,800

1,732

1,355

1,503

1,519

1,539

1,383

1,330

1,263

1,623

1,506

1,504

1,421

1,566

1,607

1,603

1,673

Net realized gains (losses) on investments, excluding impairment losses

-

-

1,199

713

-

-8,372

449

915

376

309

3,484

2,565

1,008

4,475

9,576

1,375

11,072

445

2,310

-273

3,957

2,256

1,099

8,089

4,175

7,683

1,434

787

14,353

434

9,192

-5,108

5,381

-

-16,084

-1,845

-

10,271

-2,843

Impairment losses on investments

40

93

58

86

260

19

0

0

0

111

38

0

0

744

1,844

1,095

2,060

2,197

4,396

893

214

143

441

0

105

666

4

68

6

138

411

345

0

-

1,376

118

-

0

15

Amount of unrealized gain (loss) on investments in equity security and equity method investment measured at fair value.

-22,929

-

-

-

6,327

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net unrealized gains (losses) on equity securities and limited partnership investments

-

-

-1,016

2,262

-

-11,705

1,924

-4,350

-4,909

3,954

2,498

731

5,286

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized and unrealized gains (losses) on investments

-27,756

3,847

125

2,889

6,028

-20,096

2,373

-3,435

-4,533

4,152

5,944

3,296

6,294

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Portion of other-than-temporary impairment losses recognized in other comprehensive income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Net realized gains (losses) on investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,732

280

9,012

-1,752

-2,086

-1,166

3,743

2,113

658

8,089

4,070

7,019

1,430

719

14,347

302

8,781

-5,453

5,381

3,089

-17,460

-1,963

-1,469

10,271

-2,858

Total revenues

90,802

124,430

119,832

126,998

124,337

107,055

108,171

116,564

107,379

108,407

100,478

77,408

84,941

80,567

83,687

74,018

80,725

69,746

67,546

68,682

74,301

75,187

70,478

74,816

71,561

76,127

69,589

66,018

79,238

65,768

67,240

58,256

70,860

71,442

47,169

64,591

60,392

67,327

55,282

Expenses
Losses and loss expenses incurred

81,831

86,132

84,781

90,433

87,122

101,538

94,540

77,488

72,298

66,492

60,673

71,754

48,599

48,365

56,827

42,666

38,623

41,861

35,212

37,031

41,646

41,332

38,693

40,282

39,289

40,858

36,967

38,343

34,533

38,968

30,477

33,739

34,904

46,079

48,637

55,166

65,673

36,084

31,152

Other operating expenses

34,110

34,070

36,070

34,615

33,701

37,191

29,200

36,019

34,767

31,409

29,187

26,834

26,164

25,136

21,225

22,437

20,664

23,264

20,724

23,221

23,364

21,481

23,237

20,497

22,833

21,992

20,930

20,413

22,026

20,007

19,209

19,257

18,957

18,062

18,713

18,117

18,436

17,711

17,527

Total expenses

115,941

120,202

120,851

125,048

120,823

138,729

123,740

113,507

107,065

97,901

89,860

98,588

74,763

73,501

78,052

65,103

59,287

65,125

55,936

60,252

65,010

62,813

61,930

60,779

62,122

62,850

57,897

58,756

56,559

58,975

49,686

52,996

53,861

64,141

67,350

73,283

84,109

53,795

48,679

Income (loss) before federal income tax expense (benefit)

-25,139

4,228

-1,019

1,950

3,514

-31,674

-15,569

3,057

314

10,506

10,618

-21,180

10,178

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income (loss) before federal income taxes (benefits)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,635

8,915

21,438

-

11,610

8,430

9,291

12,374

8,548

14,037

9,439

13,277

11,692

7,262

22,679

6,793

17,554

5,260

16,999

7,301

-20,181

-8,692

-23,717

13,532

6,603

Federal income tax expense (benefit)

-2,983

457

-312

415

766

-7,107

-3,244

570

-16

-5,970

3,184

-8,837

3,422

2,203

1,634

2,946

7,326

1,079

3,830

2,712

3,048

4,128

2,778

4,697

3,078

4,310

3,921

2,355

7,736

2,117

5,867

1,210

5,493

1,803

-7,210

-3,188

-8,519

4,298

1,617

Net income

-22,156

3,771

-707

1,535

2,748

-24,567

-12,325

2,487

330

16,476

7,434

-12,343

6,756

4,863

4,001

5,969

14,112

3,542

7,780

5,718

6,243

8,246

5,770

9,340

6,361

8,967

7,771

4,907

14,943

4,676

11,687

4,050

11,506

5,498

-12,971

-5,504

-15,198

9,234

4,986

Per share data:
Basic and diluted earnings (loss) (in dollars per share)

-1.56

0.26

-0.05

0.11

0.18

-1.65

-0.82

0.17

0.02

1.09

0.49

-0.82

0.45

0.31

0.27

0.40

0.94

0.23

0.52

0.38

0.42

0.55

0.39

0.62

0.42

0.60

0.52

0.33

1.00

0.32

0.78

0.27

0.78

0.37

-0.87

-0.38

-1.02

0.62

0.33

Dividends paid to shareholders (in dollars per share)

-

-

-

0.10

-

-

-

0.28

0.28

-

0.27

0.27

0.27

0.26

0.26

0.26

0.26

-

0.25

0.25

0.25

-

0.25

0.25

0.25

-

0.25

0.25

0.25

-

0.25

0.25

0.25

-

0.25

0.25

0.25

0.25

0.25

Reconciliation of shares outstanding:
Average shares outstanding - basic (in shares)

14,169

-

14,361

14,616

14,848

-

14,969

15,014

15,010

-

15,089

15,122

15,096

-

15,084

-

15

-

15

15,017

14,994

-

14,971

14,967

14,947

-

14,918

14,910

14,878

-

14,846

14,837

14,826

-

14,826

14,819

14

14

14

Dilutive effect of share equivalents (in shares)

0

-

0

63

30

-

0

9

24

-

29

0

8

-

0

-

0

-

0

8

24

-

2

4

28

-

3

8

33

-

21

23

16

-

11

15

0

0

0

Average shares outstanding - diluted (in shares)

14,169

-

14,361

14,679

14,878

-

14,969

15,023

15,034

-

15,118

15,122

15,104

-

15,084

-

15

-

15

15,025

15,018

-

14,973

14,971

14,975

-

14,921

14,918

14,911

-

14,867

14,860

14,842

-

14,837

14,834

14

14

14