AMSF Stock Balance Sheets

AMERISAFE Quarterly Balance Sheets Chart

Quarterly

Annual

Cash and Cash Eq

AMERISAFE Quarterly Balance Sheets Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31

assets
investments:
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 88 and 116 in 2025 and 2024, respectively,	384,822,000
fixed maturity securities—available-for-sale, at fair value	306,715,000	314,726,000	307,750,000	315,114,000	287,589,000	290,673,000	317,064,000	306,040,000	340,384,000	345,088,000	321,121,000	325,891,000	330,135,000	342,972,000	341,769,000	341,838,000	369,890,000	411,904,000	414,279,000	426,237,000	416,240,000	419,036,000	441,146,000	440,217,000	457,893,000	471,254,000	478,730,000	468,019,000	440,762,000	459,264,000	465,594,000	467,256,000	462,793,000	468,690,000	479,097,000	470,620,000	460,697,000	416,568,000	380,022,000	369,833,000	344,659,000	362,804,000	331,242,000	317,278,000	284,613,000	268,189,000	237,877,000	202,701,000	199,374,000	180,112,000	149,139,000	147,131,000	128,565,000	102,022,000	100,742,000	64,754,000	53,884,000	42,801,000	21,649,000	10,069,000	6,027,000										32,425,000	19,100,000	15,000,000	18,809,000		633,000	682,000	683,000	1,695,000
equity securities, at fair value	52,451,000	55,476,000	58,629,000	57,712,000	53,839,000	61,923,000	57,147,000	54,926,000	65,405,000	63,357,000	62,058,000	57,375,000	60,485,000	69,156,000	64,140,000	56,351,000	55,375,000	50,843,000	43,437,000	35,822,000	33,480,000	27,910,000	27,903,000	25,936,000	24,070,000	21,615,000	18,651,000	14,791,000
short-term investments	14,900,000	11,569,000	9,338,000	26,337,000	47,335,000	38,641,000		40,887,000	46,540,000	31,269,000	14,120,000	36,927,000	34,483,000	72,820,000	57,431,000	94,774,000	129,109,000	87,279,000	45,898,000	90,826,000	72,849,000	44,121,000	56,548,000	20,964,000	70,146,000	64,708,000	14,231,000	104,896,000	106,811,000	44,704,000	25,770,000	69,526,000	46,635,000	32,804,000	29,580,000	11,494,000	17,165,000	11,713,000	7,718,000	7,057,000	6,826,000	12,184,000	33,684,000	42,411,000	85,806,000	85,031,000	84,422,000	86,131,000	81,935,000	74,420,000	68,924,000	51,345,000	43,751,000	49,488,000	46,944,000	46,186,000	63,508,000	70,153,000	78,770,000	63,702,000	64,586,000	60,551,000	54,308,000	27,591,000	15,357,000	3,523,000
total investments	758,888,000	781,012,000	788,778,000	835,532,000	853,597,000	866,559,000	857,786,000	889,019,000	928,730,000	919,856,000	888,987,000	934,803,000	966,400,000	1,030,320,000	1,012,571,000	1,034,187,000	1,112,805,000	1,125,134,000	1,088,744,000	1,125,393,000	1,098,760,000	1,099,382,000	1,125,018,000	1,091,278,000	1,163,059,000	1,161,633,000	1,125,490,000	1,190,536,000	1,167,040,000	1,134,793,000	1,130,314,000	1,144,521,000	1,120,630,000	1,107,270,000	1,084,474,000	1,095,634,000	1,108,909,000	1,079,334,000	1,045,152,000	1,048,930,000	1,061,721,000	1,073,363,000	1,016,333,000	973,602,000	964,636,000	916,334,000	878,775,000	861,516,000	860,681,000	843,417,000	808,116,000	813,274,000	801,291,000	804,917,000	805,974,000	767,572,000	766,815,000	772,059,000	765,537,000	751,253,000	751,584,000	735,277,000	737,297,000	716,824,000	726,938,000	716,080,000	704,707,000	717,341,000	714,479,000	696,298,000	711,745,000	691,390,000	666,519,000	630,926,000	638,780,000	577,775,000	585,568,000	555,934,000	533,618,000
cash and cash equivalents	48,465,000	44,753,000	44,045,000	63,663,000	30,611,000	33,375,000	38,682,000	59,249,000	33,922,000	41,210,000	61,469,000	90,952,000	85,318,000	30,741,000	70,722,000	123,128,000	57,541,000	33,074,000	61,757,000	88,168,000	110,281,000	79,523,000	43,813,000	125,870,000	51,246,000	34,895,000	40,344,000	33,324,000	21,176,000	36,072,000	55,559,000	80,378,000	53,967,000	39,353,000	58,936,000	86,612,000	70,155,000	79,290,000	69,481,000	99,899,000	61,589,000	79,731,000	90,956,000	118,544,000	98,818,000	106,860,000	123,077,000	116,778,000	83,424,000	75,294,000	92,676,000	69,345,000	76,848,000	63,775,000	45,536,000	68,940,000	62,044,000	52,202,000	60,966,000	54,816,000	50,138,000	64,261,000	63,188,000	104,829,000	82,151,000	92,475,000	95,266,000	71,181,000	54,253,000	77,595,000	47,329,000	45,724,000	48,697,000	44,505,000	26,748,000	61,778,000	31,187,000	44,833,000	49,286,000
amounts recoverable from reinsurers	115,771,000	114,278,000	117,019,000	128,963,000	123,335,000	127,503,000	129,963,000	127,687,000	122,721,000	118,142,000	125,677,000	117,968,000	118,575,000	116,233,000	120,561,000	108,394,000	110,912,000	110,717,000	105,803,000	97,955,000	103,524,000	105,128,000	95,913,000	102,866,000	103,695,000	111,182,000	112,006,000	109,269,000	98,961,000	94,173,000	90,133,000	84,958,000	84,147,000	82,897,000	83,666,000	102,815,000	94,256,000	92,429,000	91,077,000	91,092,000	90,163,000	87,377,000	85,888,000	89,847,000	85,512,000	78,275,000	75,326,000	77,835,000	103,254,000	99,301,000	101,352,000	98,154,000	98,795,000	99,945,000	96,212,000	94,447,000	94,187,000	95,453,000	95,133,000	97,611,000	94,263,000	86,318,000	81,878,000	91,606,000	80,149,000	78,034,000	67,763,000	66,189,000	69,500,000	72,628,000	76,915,000	90,728,000	91,269,000	112,634,000	109,603,000	122,792,000	118,899,000	123,818,000	122,562,000
premiums receivable	166,344,000	156,746,000	142,659,000	152,945,000	150,914,000	143,987,000	132,861,000	144,445,000	141,943,000	137,051,000	121,713,000	137,012,000	143,307,000	140,601,000	135,100,000	154,517,000	165,158,000	165,170,000	156,760,000	171,128,000	175,241,000	169,127,000																													141,950,000	143,202,000	147,407,000	138,366,000	121,223,000	133,083,000	140,460,000	133,300,000	122,618,000	143,224,000	158,585,000	157,251,000	151,570,000	166,208,000	181,555,000	171,040,000	156,567,000	167,120,000	173,369,000	160,138,000	152,150,000	174,379,000	178,215,000	162,237,000	144,384,000	145,621,000	143,839,000	130,610,000	123,934,000
deferred income taxes	20,073,000	19,112,000	19,448,000	19,499,000	21,781,000	21,183,000	20,403,000	25,683,000	23,437,000	21,658,000	22,794,000	26,227,000	21,927,000	17,602,000	14,384,000	14,738,000	14,219,000	14,506,000	13,665,000	17,014,000	16,704,000	17,750,000	17,513,000	18,480,000	19,461,000	20,057,000	21,852,000	19,898,000	19,891,000	20,499,000	19,262,000	31,572,000	31,943,000	33,311,000	33,811,000	28,278,000	26,531,000	28,051,000	29,905,000	31,688,000	32,301,000	30,826,000	31,231,000	33,830,000	33,542,000	32,806,000	33,645,000	34,672,000	33,773,000	30,699,000	29,521,000	31,417,000	30,493,000	29,888,000	29,286,000	29,370,000	30,657,000	32,790,000	31,512,000	32,898,000	31,306,000	29,661,000	28,489,000	28,290,000	32,929,000	34,283,000	33,580,000	31,373,000	30,948,000	28,348,000	26,418,000	29,656,000	31,061,000	30,535,000	29,466,000	26,689,000	25,518,000	23,020,000	22,413,000
accrued interest receivable	7,458,000	7,747,000	7,327,000	8,192,000	8,176,000	8,250,000	8,274,000	8,548,000	8,387,000	8,638,000	8,428,000	8,772,000	8,228,000	8,949,000	8,080,000	9,148,000	9,355,000	9,669,000	9,274,000	9,495,000	9,297,000	10,218,000	9,730,000	10,404,000	10,086,000	10,917,000	10,197,000	10,776,000	10,458,000	11,332,000	10,635,000	11,235,000	11,207,000	11,907,000	11,360,000	11,948,000	11,648,000	12,489,000	11,685,000	12,208,000	11,622,000	12,042,000	11,637,000	11,268,000	11,234,000	11,345,000	11,242,000	10,888,000	10,880,000	10,305,000	10,392,000	9,846,000	9,952,000	10,340,000	9,520,000	9,215,000	8,377,000	8,788,000	7,704,000	8,436,000	7,626,000	8,011,000	7,165,000	8,243,000	7,346,000	8,260,000	7,247,000	8,133,000	7,103,000	7,089,000	7,079,000	7,350,000	6,424,000	6,632,000	5,921,000	6,200,000	5,432,000	5,726,000	4,597,000
property and equipment	6,563,000	5,675,000	5,887,000	6,131,000	6,384,000	6,767,000	6,349,000	6,678,000	6,561,000	6,907,000	7,225,000	7,380,000	6,889,000	6,423,000	6,459,000	6,158,000	6,259,000	6,302,000	6,182,000	6,227,000	6,385,000	6,305,000	6,331,000	6,430,000	5,957,000	6,041,000	6,258,000	6,462,000	6,644,000	6,774,000	6,128,000	6,320,000	6,345,000	6,441,000	6,636,000	6,387,000	6,436,000	5,988,000	6,181,000	6,945,000	7,105,000	7,180,000	7,240,000	7,362,000	7,589,000	7,425,000	7,549,000	7,505,000	7,727,000	7,533,000		7,665,000	7,336,000	7,456,000	7,628,000	7,452,000	7,334,000	7,329,000	7,547,000	6,899,000	6,120,000	5,666,000	5,369,000	5,606,000	5,512,000	5,674,000	5,542,000	5,276,000	5,134,000	5,214,000	5,407,000	4,450,000	4,778,000	5,213,000	5,687,000	6,022,000	6,029,000	6,090,000	6,321,000
deferred policy acquisition costs	21,149,000	20,422,000	19,151,000	20,148,000	19,506,000	18,994,000	17,975,000	18,796,000	18,927,000	18,629,000	17,401,000	18,275,000	18,103,000	17,877,000	17,059,000	18,580,000	18,857,000	18,684,000	17,810,000	19,237,000	19,765,000	19,719,000	19,048,000	20,341,000	20,550,000	20,433,000	19,734,000	21,326,000	21,601,000	21,287,000	20,251,000	20,906,000	20,882,000	19,866,000	19,300,000	20,363,000	20,675,000	20,222,000	20,412,000	21,089,000	21,390,000	20,791,000	19,649,000	21,016,000	21,809,000	21,091,000	19,171,000	21,085,000	20,959,000	20,038,000	18,419,000	18,830,000	18,533,000	17,675,000	18,756,000	19,793,000	19,885,000	18,299,000	17,400,000	18,651,000	19,330,000	18,366,000	18,128,000	19,424,000	20,252,000	20,169,000	20,289,000	21,263,000	20,781,000	18,560,000	18,414,000	19,973,000	20,459,000	19,544,000	18,486,000	19,785,000	19,630,000	17,998,000	16,973,000
federal income tax recoverable	2,395,000	96,000	2,180,000	2,759,000	1,555,000		1,781,000	546,000			1,453,000	2,154,000	289,000	2,973,000	6,414,000														1,205,000		1,761,000		177,000										1,082,000					1,148,000				463,000	3,988,000	659,000		3,504,000	3,808,000	610,000		4,064,000	1,971,000	3,488,000	7,215,000	3,441,000	1,710,000			958,000	6,016,000
other assets	8,008,000	6,876,000	11,297,000	16,895,000	17,670,000	16,525,000	15,088,000	15,985,000	14,287,000	16,163,000	14,132,000	15,953,000	12,884,000	19,662,000	11,374,000	11,073,000	11,157,000	11,323,000	10,860,000	12,204,000	10,016,000	17,009,000	17,587,000	28,221,000	22,019,000	19,514,000	17,572,000	16,753,000	17,413,000	18,937,000	9,959,000	17,861,000	39,543,000	44,215,000	37,668,000	47,154,000	47,924,000	42,572,000	42,788,000	46,603,000	45,119,000	15,386,000	14,287,000	18,300,000	11,464,000	9,650,000	8,637,000	9,130,000	12,930,000	11,669,000	10,809,000	10,659,000	11,625,000	9,351,000	11,254,000	16,382,000	15,657,000	15,278,000	14,488,000	14,243,000	16,190,000	15,751,000	15,480,000	14,891,000	14,836,000	13,815,000	13,491,000	24,099,000	19,812,000	20,126,000	12,843,000	13,374,000	14,164,000	13,041,000	11,523,000	14,369,000	15,942,000	10,522,000	9,434,000
total assets	1,155,114,000	1,156,717,000	1,157,791,000	1,254,727,000	1,233,529,000	1,243,143,000	1,229,162,000	1,296,636,000	1,298,915,000	1,288,254,000	1,269,279,000	1,359,496,000	1,381,920,000	1,391,381,000	1,402,724,000	1,479,923,000	1,506,263,000	1,494,579,000	1,470,855,000	1,546,821,000	1,549,973,000	1,524,161,000	1,492,906,000	1,574,539,000	1,571,093,000	1,558,982,000	1,515,931,000	1,586,969,000	1,554,281,000	1,530,665,000	1,518,236,000	1,583,248,000	1,559,487,000	1,536,536,000	1,518,856,000	1,600,178,000	1,594,769,000	1,557,560,000	1,502,045,000	1,552,540,000	1,534,111,000	1,514,977,000	1,457,220,000	1,467,384,000
liabilities and shareholders’ equity
liabilities:
reserves for loss and loss adjustment expenses	624,095,000	639,965,000	651,309,000	663,486,000	663,985,000	668,059,000	673,994,000	684,348,000	684,613,000	686,652,000	696,037,000	716,196,000	724,891,000	728,558,000	745,278,000	720,789,000	744,969,000	759,758,000	760,561,000	759,912,000	768,767,000	779,283,000	772,887,000	790,812,000	795,046,000	800,580,000	798,409,000	791,129,000	783,601,000	777,298,000	771,845,000	755,026,000	749,759,000	749,496,000	742,776,000	736,276,000	725,549,000	722,178,000	718,033,000	720,710,000	715,145,000	704,938,000	687,602,000	676,609,000	657,276,000	636,191,000	614,557,000	609,042,000	593,470,000	577,988,000	570,450,000	564,243,000	558,515,000	548,959,000	538,214,000	532,249,000	527,047,000	532,142,000	532,204,000	541,319,000	531,948,000	535,644,000	534,655,000	544,098,000	545,353,000	545,058,000	531,293,000	545,417,000	546,122,000	541,033,000	537,403,000	556,050,000	545,140,000	535,144,000	519,178,000	520,843,000	505,060,000	493,985,000	484,485,000
unearned premiums	138,784,000	132,646,000	121,926,000	131,994,000	128,055,000	124,288,000	116,585,000	126,338,000	126,244,000	124,103,000	114,976,000	128,093,000	130,224,000	128,768,000	121,092,000	136,013,000	138,861,000	137,511,000	129,260,000	143,228,000	147,824,000	146,171,000	140,873,000	154,635,000	156,889,000	155,026,000	149,296,000	165,167,000	167,310,000	164,972,000	157,270,000	165,820,000	165,895,000	163,803,000	162,028,000	175,773,000	179,800,000	169,853,000	167,983,000	176,270,000	179,945,000	172,042,000	168,576,000	178,449,000	184,238,000	177,428,000	164,296,000	164,739,000	164,716,000	155,460,000	140,528,000	142,527,000	141,701,000	129,929,000	118,699,000	126,175,000	128,449,000	119,182,000	111,494,000	121,753,000	129,301,000	123,893,000	122,500,000	136,144,000	143,209,000	141,334,000	137,100,000	149,384,000	149,475,000	140,288,000	138,402,000	155,839,000	159,689,000	147,393,000	137,761,000	151,403,000	148,337,000	133,018,000	124,524,000
amounts held for others	35,971,000	33,761,000	38,657,000	50,262,000	48,403,000	55,387,000	53,694,000	52,013,000	52,916,000	50,635,000	48,811,000	47,670,000	46,112,000	44,200,000	42,915,000	41,595,000	46,883,000	45,022,000	43,402,000	42,749,000	41,501,000	39,439,000	37,937,000	45,216,000	44,064,000	42,468,000	41,388,000	40,269,000	39,103,000	37,343,000	36,908,000	35,604,000	34,668,000	32,923,000	31,974,000	55,946,000	54,095,000	51,838,000	49,790,000	49,287,000	46,338,000	43,298,000	42,827,000	41,356,000	39,084,000	36,617,000	35,739,000	31,950,000	47,276,000	43,460,000	41,033,000	38,163,000	35,881,000	32,897,000	29,981,000	27,815,000	26,053,000	23,806,000	22,667,000	18,999,000	16,950,000	14,645,000	14,915,000	11,705,000	10,386,000	8,281,000	8,450,000	5,679,000	5,824,000	5,175,000	2,972,000	2,395,000	2,569,000	1,805,000	1,827,000	1,706,000	1,889,000	1,444,000	1,484,000
policyholder deposits	33,974,000	33,462,000	33,867,000	33,704,000	34,167,000	34,311,000	34,522,000	34,431,000	34,957,000	35,247,000	36,312,000	36,864,000	37,632,000	38,518,000	39,383,000	39,908,000	40,426,000	40,973,000	41,524,000	41,960,000	43,285,000	44,052,000	44,718,000	45,383,000	46,095,000	46,586,000	46,795,000	47,624,000	47,956,000	48,331,000	48,364,000	48,003,000	48,318,000	48,595,000	49,130,000	48,781,000	48,775,000	48,059,000	48,380,000	47,944,000	47,506,000	47,833,000	48,722,000	48,426,000	47,450,000	45,811,000	44,620,000	42,029,000	40,601,000	39,785,000	39,088,000	37,744,000	37,726,000	36,972,000	37,228,000	37,342,000	37,755,000	37,898,000	39,187,000	39,992,000	40,197,000	40,420,000	40,857,000	40,813,000	41,628,000	42,218,000	42,368,000	41,663,000	41,169,000	41,036,000	41,516,000	40,646,000	41,067,000	39,840,000	39,141,000	38,189,000	38,069,000	37,932,000	38,033,000
insurance-related assessments	17,386,000	15,888,000	14,852,000	16,841,000	16,661,000	15,624,000	16,896,000	18,295,000	18,015,000	17,594,000	17,653,000	18,751,000	18,566,000	17,622,000	16,850,000	18,907,000	18,688,000	18,441,000	17,995,000	20,902,000	25,955,000	24,155,000	22,967,000	29,035,000	30,253,000	28,802,000	28,258,000	29,814,000	30,070,000	28,389,000	28,246,000	30,293,000	31,801,000	33,312,000	31,742,000	35,875,000	36,478,000	33,313,000	32,329,000	33,531,000	33,400,000	30,288,000	29,315,000	32,175,000	32,137,000	28,113,000	25,428,000	28,887,000	28,533,000	25,351,000	22,244,000	22,190,000	25,438,000	22,788,000	21,506,000	34,182,000	36,574,000	34,891,000	33,898,000	34,360,000	42,264,000	40,580,000	40,072,000	41,633,000	45,584,000	44,126,000	42,505,000	42,832,000	44,639,000	43,911,000	42,234,000	42,513,000	44,128,000	41,963,000	40,886,000	39,647,000	39,739,000	37,271,000	35,135,000
accounts payable and other liabilities	39,293,000	37,858,000	38,409,000	39,898,000	38,766,000	39,875,000	41,020,000	41,579,000	37,967,000	38,634,000	38,058,000	38,778,000	37,868,000	38,442,000	37,773,000	39,870,000	40,833,000	41,276,000	38,880,000	41,105,000	40,712,000	39,386,000	40,089,000	39,180,000	38,325,000	39,249,000	38,611,000	38,996,000	38,441,000	37,767,000	37,076,000	41,827,000	36,099,000	31,142,000	31,510,000	32,905,000	31,439,000	28,673,000	30,484,000	30,000,000	29,110,000	32,255,000	30,110,000	32,838,000	32,651,000	29,650,000	26,940,000	29,019,000	29,688,000	28,190,000	25,649,000	24,312,000	22,586,000	24,221,000	25,633,000	24,258,000	22,520,000	20,054,000	20,653,000	23,397,000	23,506,000	22,822,000	24,324,000	26,694,000	29,026,000	28,318,000	30,534,000	28,215,000	27,136,000	25,267,000	28,946,000	30,658,000	30,250,000	29,286,000	30,470,000	25,490,000	24,451,000	22,821,000	22,852,000
payable for investments purchased	41,000	2,324,000	1,430,000	4,171,000	2,500,000	2,145,000		3,749,000	1,335,000			125,000	1,638,000				4,993,000			10,270,000	7,035,000	8,288,000			9,653,000	8,206,000		13,416,000	2,409,000	3,110,000	13,104,000	9,821,000	11,555,000	786,000	9,501,000	2,069,000	18,795,000	16,425,000		2,969,000	8,592,000	20,808,000	2,257,000	7,737,000	10,397,000	635,000		5,400,000	16,571,000	4,391,000	276,000	1,264,000	11,921,000	4,704,000	616,000				6,718,000				2,979,000
total liabilities	889,544,000	895,904,000	900,450,000	940,356,000	932,537,000	942,049,000	936,711,000	960,753,000	958,348,000	955,399,000	951,847,000	986,477,000	996,931,000	996,108,000	1,003,401,000	999,767,000	1,037,897,000	1,046,953,000	1,032,039,000	1,064,911,000	1,087,177,000	1,087,205,000	1,062,691,000	1,105,810,000	1,121,650,000	1,128,577,000	1,106,169,000	1,127,973,000	1,108,890,000	1,098,597,000	1,092,813,000	1,088,303,000	1,078,095,000	1,069,435,000	1,062,706,000	1,090,435,000	1,098,822,000	1,078,807,000	1,048,064,000	1,061,964,000	1,061,313,000	1,053,324,000	1,010,252,000	1,018,901,000																																813,368,000	793,635,000	766,016,000	744,974,000
shareholders’ equity:
common stock: voting—0.01 par value authorized shares—50,000,000 in 2025 and 2024; 20,764,355 and 20,733,166 shares issued; and 19,018,747 and 19,050,315 shares outstanding in 2025 and 2024, respectively	208,000
additional paid-in capital	225,674,000	224,327,000	223,956,000	223,605,000	223,359,000	222,443,000	222,078,000	221,905,000	221,759,000	220,556,000	220,299,000	219,988,000	219,744,000	217,605,000	217,458,000	217,311,000	217,165,000	215,468,000	215,316,000	215,140,000	214,894,000	213,267,000	213,004,000	212,743,000	212,493,000	211,700,000	211,431,000	211,156,000	210,895,000	210,441,000	210,081,000	209,622,000	209,414,000	208,711,000	208,390,000	208,009,000	206,944,000	205,862,000	204,688,000	203,322,000	201,934,000	200,714,000	199,138,000	197,094,000	195,436,000	194,076,000	192,537,000	190,767,000	189,747,000	189,039,000	187,401,000	186,410,000	186,290,000	185,842,000	185,734,000	183,936,000	183,836,000	182,551,000	180,884,000	179,284,000	178,383,000	177,255,000	176,868,000	176,356,000	175,836,000	175,265,000	175,163,000	174,630,000	174,195,000	173,811,000	173,589,000	173,266,000	173,011,000	172,687,000	171,557,000	145,860,000	145,667,000	145,346,000	145,236,000
treasury stock	-44,848,000	-42,052,000	-42,052,000	-42,050,000	-41,042,000	-36,929,000	-36,929,000	-34,758,000	-34,758,000	-34,758,000	-34,758,000	-34,606,000	-28,071,000	-24,429,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-22,370,000	-21,758,000	-14,961,000	-14,961,000	-12,102,000	-10,373,000	-6,638,000	-1,135,000
accumulated earnings	92,097,000	85,600,000	84,105,000	135,284,000	128,028,000	124,113,000	114,289,000	168,892,000	165,459,000	156,334,000	145,512,000	207,394,000	201,983,000	201,834,000	190,492,000	270,023,000	256,503,000	238,351,000	224,645,000	269,022,000	250,888,000	232,159,000	227,165,000	265,536,000	248,975,000	235,908,000	221,328,000	274,206,000	258,744,000	246,028,000	233,896,000	304,456,000	291,728,000	280,096,000	270,418,000	317,304,000	302,860,000	289,678,000	268,873,000	306,061,000	290,980,000	279,479,000	267,189,000	271,481,000	260,258,000	249,729,000	250,744,000	234,789,000	226,568,000	220,399,000	213,017,000	203,791,000	196,670,000	193,225,000	185,079,000	173,873,000	167,181,000	162,612,000	155,985,000	148,691,000	144,333,000	133,909,000	122,632,000	116,910,000	103,822,000	88,138,000	77,076,000	71,339,000	57,980,000	45,153,000	33,230,000	14,609,000	2,791,000
accumulated other comprehensive loss	-7,561,000	-7,269,000	-8,875,000	-2,675,000	-9,560,000	-8,740,000	-7,194,000	-20,363,000	-12,100,000	-9,484,000																																				-1,055,000
total shareholders’ equity	265,570,000	260,813,000	257,341,000	314,371,000	300,992,000	301,094,000	292,451,000	335,883,000	340,567,000	332,855,000	317,432,000	373,019,000	384,989,000	395,273,000	399,323,000	480,156,000	468,366,000	447,626,000	438,816,000	481,910,000	462,796,000	436,956,000	430,215,000	468,729,000	449,443,000	430,405,000	409,762,000	458,996,000	445,391,000	432,068,000	425,423,000	494,945,000	481,392,000	467,101,000	456,150,000	509,743,000	495,947,000	478,753,000	453,981,000	490,576,000	472,798,000	461,653,000	446,968,000	448,483,000
total liabilities and shareholders’ equity	1,155,114,000	1,156,717,000	1,157,791,000	1,254,727,000	1,233,529,000	1,243,143,000	1,229,162,000	1,296,636,000	1,298,915,000	1,288,254,000	1,269,279,000	1,359,496,000	1,381,920,000	1,391,381,000	1,402,724,000	1,479,923,000	1,506,263,000	1,494,579,000	1,470,855,000	1,546,821,000	1,549,973,000	1,524,161,000	1,492,906,000	1,574,539,000	1,571,093,000	1,558,982,000	1,515,931,000	1,586,969,000	1,554,281,000	1,530,665,000	1,518,236,000	1,583,248,000	1,559,487,000	1,536,536,000	1,518,856,000	1,600,178,000	1,594,769,000	1,557,560,000	1,502,045,000	1,552,540,000	1,534,111,000	1,514,977,000	1,457,220,000	1,467,384,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 100 and 116 in 2025 and 2024, respectively,		399,241,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2025 and 2024; 20,733,166 shares issued and 19,050,315 shares outstanding in 2025 and 2024		207,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 116 and 182 in 2024 and 2023, respectively,			413,061,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2024 and 2023; 20,733,166 and 20,704,448 shares issued; and 19,050,315 and 19,135,008 shares outstanding in 2024 and 2023, respectively			207,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 136 and 182 in 2024 and 2023, respectively,				436,369,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2024 and 2023; 20,732,821 and 20,704,448 shares issued; and 19,049,970 and 19,135,008 shares outstanding in 2024 and 2023, respectively				207,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 149 and 182 in 2024 and 2023, respectively,					464,834,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2024 and 2023; 20,729,551 and 20,704,448 shares issued; and 19,068,286 and 19,135,008 shares outstanding in 2024 and 2023, respectively					207,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 165 and 182 in 2024 and 2023, respectively,						475,322,000
federal income tax payable						2,360,000			2,301,000	2,534,000						2,685,000	2,244,000	3,972,000	417,000	4,785,000	12,098,000	6,431,000	3,220,000	1,549,000	1,325,000	7,660,000	3,412,000	1,558,000		1,387,000		1,909,000		9,378,000	4,017,000	2,810,000	3,828,000	8,268,000	911,000	979,000	1,060,000																									2,242,000	1,221,000			3,206,000			1,788,000	3,711,000	3,631,000			3,455,000	1,677,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2024 and 2023; 20,704,448 shares issued in 2024 and 2023; and 19,135,008 shares outstanding in 2024 and 2023						207,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 182 and 239 in 2023 and 2022, respectively,							483,575,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2023 and 2022; 20,704,448 and 20,678,572 shares issued; and 19,135,008 and 19,155,873 shares outstanding in 2023 and 2022, respectively							207,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 188 and 239 in 2023 and 2022, respectively,								487,166,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2023 and 2022; 20,707,148 and 20,678,572 shares issued; and 19,184,449 and 19,155,873 shares outstanding in 2023 and 2022, respectively								207,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 204 and 239 in 2023 and 2022, respectively,									476,401,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2023 and 2022; 20,702,713 and 20,678,572 shares issued; and 19,180,014 and 19,155,873 shares outstanding in 2023 and 2022, respectively									207,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 220 and 239 in 2023 and 2022, respectively,										480,142,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2023 and 2022; 20,677,086 and 20,678,572 shares issued; and 19,154,387 and 19,155,873 shares outstanding in 2023 and 2022, respectively										207,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 239 and 195 in 2022 and 2021, respectively,											491,688,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2022 and 2021; 20,678,572 and 20,622,304 shares issued; and 19,155,873 and 19,364,054 shares outstanding in 2022 and 2021, respectively											207,000
accumulated other comprehensive income											-13,828,000	-19,964,000	-8,874,000	57,000	13,537,000	14,986,000	16,862,000	15,971,000	21,019,000	19,912,000	19,178,000	13,695,000	12,211,000	12,615,000	10,140,000	4,962,000	-832,000	-4,201,000	-2,083,000	-2,236,000	3,612,000	3,033,000	2,416,000	460,000	-492,000	6,596,000	8,309,000	5,380,000	2,587,000	3,360,000	2,052,000	3,628,000	2,810,000				-4,295,000	-2,671,000	-1,626,000	2,434,000	2,979,000	4,114,000	2,665,000	2,162,000	2,215,000	2,242,000	964,000	173,000	265,000	410,000	131,000	385,000	2,728,000	1,819,000	-1,574,000	-1,481,000	845,000	-4,200,000	-2,521,000	-1,047,000	1,563,000	3,937,000	4,204,000	3,826,000	4,028,000	6,659,000	5,961,000	7,774,000	6,312,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 255 and 195 in 2022 and 2021, respectively,												514,610,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2022 and 2021; 20,678,572 and 20,622,304 shares issued; and 19,159,171 and 19,364,054 shares outstanding in 2022 and 2021, respectively												207,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 276 and 195 in 2022 and 2021, respectively,													541,297,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2022 and 2021; 20,676,474 and 20,622,304 shares issued; and 19,296,632 and 19,364,054 shares outstanding in 2022 and 2021, respectively													207,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 290 and 195 in 2022 and 2021, respectively,														545,372,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2022 and 2021; 20,622,565 and 20,622,304 shares issued; and 19,320,422 and 19,364,054 shares outstanding in 2022 and 2021, respectively														206,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 195 and 274 in 2021 and 2020, respectively,															549,231,000
reinsurance premiums payable															110,000																				28,000		63,000	200,000	154,000	274,000	217,000	1,862,000	843,000	1,311,000	1,000,000	1,727,000	607,000	781,000	503,000	1,080,000	456,000	273,000	201,000	457,000		955,000	847,000	633,000		722,000	993,000	1,283,000		1,013,000	1,846,000	1,509,000		489,000			720,000			833,000	1,378,000				694,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2021 and 2020; 20,622,304 and 20,589,309 shares issued; and 19,364,054 and 19,331,059 shares outstanding in 2021 and 2020, respectively															206,000	206,000	206,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 172 and 274 in 2021 and 2020, respectively,																541,224,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 157 and 274 in 2021 and 2020, respectively,																	558,431,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 166 and 274 in 2021 and 2020, respectively,																		575,108,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2021 and 2020; 20,589,309 and 20,589,309 shares issued and 19,331,059 and 19,331,059 shares outstanding in 2021 and 2020, respectively																		206,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 274 and 0 in 2020 and 2019, respectively,																			585,130,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2020 and 2019; 20,589,309 and 20,560,833 shares issued and 19,331,059 and 19,302,583 shares outstanding in 2020 and 2019, respectively																			206,000	206,000	206,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 288 and 0 in 2020 and 2019, respectively,																				572,508,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 357 and 0 in 2020 and 2019, respectively,																					576,191,000
fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of 275 and 0 in 2020 and 2019, respectively,																						608,315,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2020 and 2019; 20,561,034 and 20,560,833 shares issued and 19,302,784 and 19,302,583 shares outstanding in 2020 and 2019, respectively																						205,000
fixed maturity securities—held-to-maturity, at amortized cost																							599,421,000	604,161,000	610,950,000	604,056,000	613,878,000	602,830,000	605,877,000	619,400,000	629,668,000	598,658,000	599,096,000	594,776,000	562,434,000	601,314,000	620,165,000	639,632,000	645,164,000	660,250,000	698,513,000	686,618,000	639,631,000	599,087,000	579,145,000	548,612,000	536,583,000	550,153,000	565,874,000	573,688,000	583,287,000	607,681,000	620,682,000	649,042,000	646,048,000	642,033,000	648,333,000	658,015,000	663,345,000	675,052,000	678,305,000	671,806,000	666,418,000	673,124,000	687,350,000	691,516,000	680,276,000	684,307,000	678,763,000	659,976,000	639,691,000	642,492,000	626,759,000	588,402,000	615,114,000	524,086,000	515,784,000	484,723,000	465,648,000
premiums receivable, net of allowance																							157,953,000	170,649,000	175,020,000	174,310,000	162,478,000	178,625,000	189,892,000	186,798,000	174,234,000	185,497,000	190,646,000	191,276,000	183,005,000	200,987,000	208,235,000	197,185,000	185,364,000	194,086,000	203,101,000	188,281,000	178,917,000	193,615,000	205,113,000	192,964,000	171,579,000	172,002,000	180,245,000	167,147,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2019 and 2018; 20,560,833 and 20,528,230 shares issued and 19,302,583 and 19,269,980 shares outstanding in 2019 and 2018, respectively																							205,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2019 and 2018; 20,558,559 and 20,528,230 shares issued and 19,300,309 and 19,269,980 shares outstanding in 2019 and 2018, respectively																								205,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2019 and 2018; 20,556,511 and 20,528,230 shares issued and 19,298,261 and 19,269,980 shares outstanding in 2019 and 2018, respectively																									205,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2019 and 2018; 20,533,230 and 20,528,230 shares issued and 19,274,980 and 19,269,980 shares outstanding in 2019 and 2018, respectively																										205,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2018 and 2017; 20,528,230 and 20,504,165 shares issued and 19,269,980 and 19,245,915 shares outstanding in 2018 and 2017, respectively																											205,000	205,000	205,000
equity securities—available-for-sale, at fair value																													13,590,000	11,425,000	9,282,000	7,801,000	5,068,000	2,044,000	33,000	32,000	32,000	31,000	31,000	31,000	28,000	28,000	28,000	3,598,000	3,980,000	3,682,000	9,302,000	12,260,000	13,498,000	15,197,000	6,766,000	7,117,000	8,293,000	4,365,000	12,240,000	14,599,000	1,090,000	1,090,000	1,773,000	2,430,000	2,666,000	2,920,000	16,571,000	16,109,000	24,231,000	21,041,000	24,431,000	33,034,000	35,716,000	36,322,000	39,629,000	29,798,000	24,760,000	23,715,000	23,666,000	53,056,000	69,102,000	70,528,000	66,275,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2018 and 2017; 20,519,165 and 20,504,165 shares issued and 19,260,915 and 19,245,915 shares outstanding in 2018 and 2017, respectively																														205,000
other investments																																1,280,000	7,038,000	8,956,000	13,330,000	12,174,000	10,850,000	11,390,000	12,217,000	11,759,000	11,695,000	11,729,000	11,748,000	11,228,000	11,092,000	10,820,000	10,591,000	10,271,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2017 and 2016; 20,504,165 and 20,488,385 shares issued and 19,245,915 and 19,230,135 shares outstanding in 2017 and 2016, respectively																															204,000
common stock: voting—0.01 par value authorized shares—50,000,000 in 2017 and 2016; 20,502,273 and 20,488,385 shares issued and 19,244,023 and 19,230,135 shares outstanding in 2017 and 2016, respectively																																204,000	204,000
common stock:
voting—0.01 par value authorized shares—50,000,000 in 2017 and 2016; 20,488,385 shares issued and 19,230,135 shares outstanding in 2017 and 2016																																		204,000
voting—0.01 par value authorized shares—50,000,000 in 2016 and 2015; 20,488,385 and 20,388,396 shares issued and 19,230,135 and 19,130,146 shares outstanding in 2016 and 2015, respectively																																			204,000	204,000
voting—0.01 par value authorized shares—50,000,000 in 2016 and 2015; 20,459,290 and 20,388,396 shares issued and 19,201,040 and 19,130,146 shares outstanding in 2016 and 2015, respectively																																					204,000
voting—0.01 par value authorized shares—50,000,000 in 2016 and 2015; 20,440,124 and 20,388,396 shares issued and 19,181,874 and 19,130,146 shares outstanding in 2016 and 2015, respectively																																						203,000
voting—0.01 par value authorized shares—50,000,000 in 2015 and 2014, 20,388,396 and 20,155,936 shares issued and 19,130,146 and 18,897,686 shares outstanding in 2015 and 2014, respectively																																							203,000
voting—0.01 par value authorized shares—50,000,000 in 2015 and 2014; 20,352,042 and 20,155,936 shares issued and 19,093,792 and 18,897,686 shares outstanding in 2015 and 2014, respectively																																								203,000
voting—0.01 par value authorized shares—50,000,000 in 2015 and 2014; 20,268,042 and 20,155,936 shares issued and 19,009,792 and 18,897,686 shares outstanding in 2015 and 2014, respectively																																									202,000
voting—0.01 par value authorized shares—50,000,000 in 2015 and 2014; 20,236,943 and 20,155,936 shares issued and 18,978,693 and 18,897,686 shares outstanding in 2015 and 2014, respectively																																										202,000
voting—0.01 par value authorized shares—50,000,000 in 2014 and 2013; 20,155,936 and 19,855,430 shares issued and 18,897,686 and 18,597,180 shares outstanding in 2014 and 2013, respectively																																											201,000
voting—0.01 par value authorized shares—50,000,000 in 2014 and 2013; 20,066,075 and 19,855,430 shares issued and 18,807,825 and 18,597,180 shares outstanding in 2014 and 2013, respectively																																												200,000
accumulated other comprehensive income/(loss)																																												2,078,000	1,961,000
voting—0.01 par value authorized shares—50,000,000 in 2014 and 2013; 19,984,575 and 19,855,430 shares issued and 18,726,325 and 18,597,180 shares outstanding in 2014 and 2013, respectively																																													199,000
revenues
gross premiums written																																													103,820,000	105,703,000		86,137,000	95,815,000	99,123,000		77,283,000	85,476,000	84,924,000		65,698,000	72,916,000	71,359,000		52,197,000	62,993,000	61,091,000		55,119,000	72,537,000	79,429,000		75,767,000	85,995,000	80,977,000		81,138,000	94,290,000	90,485,000		82,951,000	92,151,000	80,819,000
ceded premiums written																																													-3,493,000	-3,339,000		-4,519,000	-4,576,000	-4,481,000		-4,032,000	-3,971,000	-3,904,000		-3,517,000	-3,388,000	-3,582,000		-5,334,000	-4,603,000	-4,639,000		-4,051,000	-4,870,000	-5,194,000		-4,574,000	-4,666,000	-4,790,000		-5,352,000	-4,887,000	-4,973,000		-4,894,000	-4,724,000	-4,451,000
net premiums written																																													100,327,000	102,364,000		81,618,000	91,239,000	94,642,000		73,251,000	81,505,000	81,020,000		62,181,000	69,528,000	67,777,000		46,863,000	58,390,000	56,452,000		51,068,000	67,667,000	74,235,000		71,193,000	81,329,000	76,187,000		75,786,000	89,403,000	85,512,000		78,057,000	87,427,000	76,368,000
net premiums earned																																													93,516,000	89,233,000		81,596,000	81,983,000	79,709,000		72,425,000	69,733,000	69,790,000		64,454,000	60,261,000	60,089,000		54,412,000	52,982,000	55,058,000		58,133,000	65,792,000	70,001,000		71,284,000	72,143,000	74,300,000		79,637,000	77,106,000	75,881,000		74,991,000	72,107,000	67,874,000
net investment income																																													6,845,000	6,708,000	27,029,000	6,947,000	6,649,000	6,670,000	27,018,000	6,801,000	6,605,000	6,914,000	26,340,000	6,495,000	6,597,000	6,546,000	26,242,000	6,569,000	6,675,000	6,540,000	28,014,000	6,877,000	6,982,000	7,372,000	30,998,000	7,712,000	7,405,000	7,817,000	30,208,000	7,924,000	7,433,000	6,925,000	25,383,000	6,316,000	5,843,000	5,973,000	16,882,000
net realized gains/(losses) on investments																																													232,000			-654,000	-1,291,000
fee and other income																																													31,000	131,000	534,000	114,000	170,000	109,000	562,000	163,000	162,000	159,000	1,080,000	282,000	48,000	221,000	584,000	118,000	145,000	232,000	1,268,000	242,000	705,000	136,000	742,000	200,000	229,000	141,000	1,058,000	641,000	138,000	139,000	645,000	195,000	198,000	157,000	561,000
total revenues																																													100,624,000	96,173,000	356,335,000	88,003,000	87,511,000	86,512,000	321,248,000	80,374,000	76,637,000	78,654,000	280,663,000	71,743,000	67,051,000	66,959,000	248,156,000	60,538,000	60,095,000	64,382,000	282,211,000	67,208,000	73,496,000	77,535,000	302,377,000	76,275,000	79,830,000	82,266,000	338,319,000	88,293,000	84,713,000	82,945,000	332,720,000	81,848,000	79,229,000	75,158,000	276,283,000
expenses
loss and loss adjustment expenses incurred																																													62,463,000	61,285,000	228,973,000	57,046,000	56,813,000	56,001,000	219,903,000	53,851,000	56,720,000	51,843,000	189,706,000	49,327,000	46,576,000	44,176,000	157,388,000	46,660,000	33,711,000	37,627,000	163,316,000	33,358,000	40,219,000	47,070,000	176,389,000	41,972,000	47,317,000	49,928,000	198,531,000	54,917,000	53,203,000	52,503,000	199,484,000	51,743,000	50,376,000	47,871,000	204,056,000
underwriting and certain other operating costs																																													8,839,000	7,963,000	18,951,000	6,634,000	7,770,000	7,068,000	18,450,000	6,128,000	4,923,000	4,287,000	22,490,000	3,947,000	5,600,000	5,171,000	8,204,000	-834,000	3,403,000	3,283,000	14,092,000	3,339,000	4,114,000	4,339,000	14,933,000	4,612,000	2,476,000	4,676,000	26,267,000	5,947,000	5,144,000	7,523,000	35,024,000	9,089,000	9,329,000	8,132,000	33,008,000
commissions																																													6,987,000	6,687,000	25,303,000	6,176,000	6,229,000	6,164,000	22,144,000	5,405,000	5,399,000	5,295,000	18,507,000	4,800,000	4,497,000	4,286,000	16,350,000	4,087,000	3,993,000	3,999,000	18,418,000	3,865,000	4,693,000	5,417,000	20,592,000	4,822,000	6,521,000	4,833,000	20,352,000	5,242,000	5,079,000	4,930,000	19,030,000	4,925,000	4,564,000	4,322,000	16,226,000
salaries and benefits																																													5,186,000	6,721,000	22,862,000	5,662,000	5,664,000	5,645,000	20,839,000	4,962,000	5,025,000	5,133,000	19,914,000	4,821,000	4,841,000	5,106,000	21,405,000	5,104,000	4,951,000	5,215,000	21,447,000	5,331,000	5,668,000	5,012,000	20,411,000	5,040,000	5,152,000	5,005,000	18,896,000	4,664,000	4,606,000	4,705,000	17,234,000	4,195,000	4,207,000	3,976,000	14,150,000
policyholder dividends																																													88,000	113,000	1,042,000	38,000	388,000	554,000	2,203,000	945,000	330,000	384,000	1,464,000	271,000	364,000	355,000	834,000	252,000	210,000	264,000	770,000	201,000	141,000	181,000	3,504,000	125,000	122,000	316,000	-367,000	276,000	166,000	521,000	6,006,000	216,000	175,000	171,000	4,000
total expenses																																													83,563,000	82,769,000	297,131,000	75,556,000	76,864,000	75,432,000	284,105,000	71,371,000	72,604,000	67,221,000	253,392,000	63,443,000	62,258,000	59,473,000	205,729,000	55,669,000	46,653,000	50,763,000	219,853,000	46,511,000	55,218,000	62,630,000	238,289,000	57,225,000	62,245,000	65,527,000	267,224,000	71,946,000	69,084,000	71,060,000	280,274,000	71,091,000	69,494,000	65,285,000	270,288,000
income before income taxes																																													17,061,000	13,404,000	59,204,000	12,447,000	10,647,000	11,080,000	37,143,000	9,003,000	4,033,000	11,433,000	27,271,000	8,300,000	4,793,000	7,486,000	42,427,000	4,869,000	13,442,000	13,619,000	62,358,000	20,697,000	18,278,000	14,905,000	64,088,000	19,050,000	17,585,000	16,739,000	71,095,000	16,347,000	15,629,000	11,885,000	52,446,000	10,757,000	9,735,000	9,873,000	5,995,000
income tax expense																																													4,288,000	2,855,000	15,567,000	2,748,000	3,003,000	2,229,000	7,790,000	1,882,000	588,000	1,872,000	3,146,000	1,608,000	224,000	859,000	9,074,000	511,000	3,018,000	2,342,000	15,927,000	5,626,000	4,577,000	3,843,000	20,242,000	5,691,000	4,758,000	4,816,000	20,876,000	4,528,000	4,267,000	3,467,000	15,088,000			2,637,000	65,000
net income																																													12,773,000	10,549,000	43,637,000	9,699,000	7,644,000	8,851,000	29,353,000	7,121,000	3,445,000	9,561,000	24,125,000	6,692,000	4,569,000	6,627,000	33,353,000	4,358,000	10,424,000	11,277,000	46,431,000	15,071,000	13,701,000	11,062,000	43,846,000	13,359,000	12,827,000	11,923,000	50,219,000	11,819,000	11,362,000	8,418,000	37,358,000	8,265,000	7,818,000	7,236,000	5,930,000
net income available to common shareholders																																													12,773,000	10,549,000	43,495,000	9,673,000	7,618,000	8,836,000		7,121,000	3,445,000	9,561,000	24,125,000	6,692,000	4,569,000	6,627,000	33,353,000	4,358,000	10,424,000	11,277,000	45,556,000	15,071,000	13,701,000	11,062,000	43,846,000	13,359,000	12,827,000	11,923,000	50,219,000	11,819,000	11,362,000	8,418,000	37,358,000	8,265,000	7,818,000	7,236,000	-2,663,000
earnings per share
basic																																													690	570	2,370	530	420	480	1,620	390	190	530	1,320	370	250	360	1,790	240	560	600	2,270	750	680	550	2,190	670	640	600	2,520	590	570	420	1,880	420	390	360	-1,250
diluted																																													680	560	2,320	520	410	470	1,580	380	190	520	1,290	360	240	350	1,750	230	540	580	2,220	740	670	540	2,150	650	630	590	2,470	580	560	420	1,880	420	390	360	-1,250
shares used in computing earnings per share
extraordinary cash dividends declared per common share																																														500
cash dividends declared per common share																																													120	120	320	80	80	80
voting—0.01 par value authorized shares—50,000,000 in 2014 and 2013; 19,917,709 and 19,855,430 shares issued and 18,659,459 and 18,597,180 shares outstanding in 2014 and 2013, respectively																																														198,000
net realized gains on investments																																														101,000	-1,211,000			24,000	2,979,000	985,000	137,000	1,791,000	2,228,000	512,000	145,000	103,000	2,449,000	-561,000	293,000	2,552,000	2,033,000	1,956,000	17,000	26,000	-18,856,000	-2,921,000	53,000	8,000	147,000	91,000	36,000		7,389,000	346,000	1,081,000	1,154,000	2,272,000
voting—0.01 par value authorized shares—50,000,000 in 2013 and 2012; 19,855,430 and 19,513,476 shares issued and 18,597,180 and 18,255,226 shares outstanding in 2013 and 2012, respectively																																															198,000
premiums earned																																															329,983,000				290,689,000				251,015,000				218,881,000				250,896,000				289,493,000				306,906,000				299,303,000				256,568,000
interest expense																																																			566,000	80,000	207,000	279,000	1,311,000	277,000	380,000	379,000	1,548,000	400,000	385,000	375,000	1,810,000	417,000	383,000	611,000	2,460,000	654,000	657,000	769,000	3,545,000	900,000	886,000	878,000	3,496,000	923,000	843,000	813,000	2,844,000
voting—0.01 par value authorized shares—50,000,000 in 2013 and 2012; 19,747,430 and 19,513,476 shares issued and 18,489,180 and 18,255,226 shares outstanding in 2013 and 2012, respectively																																																197,000
voting—0.01 par value authorized shares—50,000,000 in 2013 and 2012; 19,699,130 and 19,513,476 shares issued and 18,440,880 and 18,255,226 shares outstanding in 2013 and 2012, respectively																																																	196,000
voting—0.01 par value authorized shares—50,000,000 in 2013 and 2012; 19,637,617 and 19,513,476 shares issued and 18,379,367 and 18,255,226 shares outstanding in 2013 and 2012, respectively																																																		196,000
property and equipment, net of allowance																																																			7,711,000
subordinated debt securities																																																					12,890,000	25,780,000	25,780,000	25,780,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000	36,090,000
voting—0.01 par value authorized shares—50,000,000 in 2012 and 2011; 19,513,476 and 19,408,512 shares issued and 18,255,226 and 18,150,262 shares outstanding in 2012 and 2011, respectively																																																			195,000
voting—0.01 par value authorized shares—50,000,000 in 2012 and 2011; 19,445,476 and 19,408,512 shares issued and 18,187,226 and 18,150,262 shares outstanding in 2012 and 2011, respectively																																																				194,000	194,000
deferred charges																																																					4,040,000	3,388,000	3,120,000	3,439,000	3,324,000	3,050,000	2,936,000	3,323,000	3,341,000	3,109,000	3,030,000	3,410,000	3,818,000	3,569,000	3,381,000	3,793,000	3,902,000	3,670,000	3,553,000	4,167,000	4,329,000	3,929,000	3,548,000	4,003,000	4,101,000	3,649,000	3,182,000
voting—0.01 par value authorized shares—50,000,000 in 2012 and 2011; 19,408,512 shares issued and 18,150,262 shares outstanding in 2012 and 2011																																																						194,000
federal income taxes recoverable																																																											2,293,000
voting—0.01 par value authorized shares—50,000,000 in 2011 and 2010; 19,408,512 and 19,060,649 issued and 18,150,262 and 18,352,041 shares outstanding shares in 2011 and 2010, respectively																																																							194,000
redemption premium																																																															-875,000
securities payable																																																								5,955,000		3,895,000		584,000	2,806,000	1,179,000		4,308,000	801,000	7,112,000				10,555,000
voting—0.01 par value authorized shares—50,000,000 in 2011 and 2010; 19,287,912 and 19,060,649 shares issued and 18,062,272 and 18,352,041 shares outstanding in 2011 and 2010, respectively																																																								193,000
voting—0.01 par value authorized shares—50,000,000 in 2011 and 2010; 19,287,912 and 19,060,649 shares issued and 18,420,242 and 18,352,041 shares outstanding in 2011 and 2010, respectively																																																									193,000
voting—0.01 par value authorized shares—50,000,000 in 2011 and 2010; 19,185,449 and 19,060,649 shares issued and 18,317,779 and 18,352,041 shares outstanding in 2011 and 2010, respectively																																																										192,000
liabilities, redeemable preferred stock and shareholders’ equity
voting—0.01 par value authorized shares—50,000,000 in 2010 and 2009; 19,060,649 and 18,895,246 issued and 18,352,041 and 18,895,246 shares outstanding shares in 2010 and 2009, respectively																																																											191,000
voting—0.01 par value authorized shares—50,000,000 in 2010 and 2009; 19,047,394 and 18,879,846 shares issued and 18,434,928 and 18,879,846 shares outstanding in 2010 and 2009, respectively																																																												190,000
voting—0.01 par value authorized shares—50,000,000 in 2010 and 2009; 19,002,964 and 18,895,246 shares issued and 18,603,816 and 18,895,246 shares outstanding in 2010 and 2009, respectively																																																													190,000
voting—0.01 par value authorized shares—50,000,000 in 2010 and 2009; issued and outstanding shares—18,911,142 in 2010 and 18,895,246 in 2009																																																														189,000
redeemable preferred stock:
series a nonconvertible—0.01 par value, 100 per share redemption value:
authorized shares—1,500,000; issued and outstanding shares—none in 2009 and 2008
series c convertible—0.01 par value, 100 per share redemption value:
authorized shares—300,000; issued and outstanding shares—none in 2009 and 50,000 in 2008
series d convertible—0.01 par value, 100 per share redemption value:
authorized shares—200,000; issued and outstanding shares—none in 2009 and 200,000 in 2008
preferred stock: series e nonconvertible—0.01 par value, 100 per share redemption value:
authorized—500,000; issued and outstanding shares—none in 2009 and in 2008
voting—0.01 par value authorized shares—50,000,000; issued and outstanding shares—18,895,246 in 2009 and 18,856,602 in 2008																																																															189,000
redeemable preferred stock																																																																25,000,000	25,000,000	25,000,000		25,000,000	25,000,000	25,000,000		25,000,000	25,000,000	25,000,000		50,000,000	50,000,000	50,000,000
voting—0.01 par value authorized shares—50,000,000 in 2009 and 2008; issued and outstanding shares—18,879,846 in 2009 and 18,856,602 in 2008																																																																189,000
preferred stock dividends																																																																															-8,593,000
voting—0.01 par value authorized shares—50,000,000 in 2009 and 2008; issued and outstanding shares—18,866,446 in 2009 and 18,856,602 in 2008																																																																	189,000
assets:
voting—0.01 par value authorized shares—50,000,000 in 2009 and 2008; issued and outstanding shares—18,860,602 in 2009 and 18,856,602 in 2008																																																																		189,000
authorized shares—1,500,000; issued and outstanding shares—none in 2008 and 2007
authorized shares—300,000; issued and outstanding shares—50,000 in 2008 and 2007																																																																			5,000,000
authorized shares—200,000; issued and outstanding shares—200,000 in 2008 and 2007																																																																			20,000,000
authorized—500,000; issued and outstanding shares—none in 2008 and in 2007
voting—0.01 par value authorized shares—50,000,000 in 2007 and 2006; issued and outstanding shares—18,856,602 in 2008 and 18,813,040 in 2007																																																																			188,000
voting—0.01 par value authorized shares—50,000,000 in 2008 and 2007; issued and outstanding shares—18,841,306 in 2008 and 18,813,040 in 2007																																																																				188,000
voting—0.01 par value authorized shares—50,000,000 in 2008 and 2007; issued and outstanding shares—18,832,506 in 2008 and 18,813,040 in 2007																																																																					188,000
voting—0.01 par value authorized shares—50,000,000 in 2008 and 2007; issued and outstanding shares—18,822,238 in 2008 and 18,813,040 in 2007																																																																						188,000
authorized shares—1,500,000; issued and outstanding shares—none in 2007 and 2006
authorized shares—300,000; issued and outstanding shares—50,000 in 2007 and 2006																																																																							5,000,000
authorized shares—200,000; issued and outstanding shares—200,000 in 2007 and 2006																																																																							20,000,000
authorized—500,000; issued and outstanding shares—none in 2007 and in 2006
voting—0.01 par value authorized shares—50,000,000 in 2007 and 2006; issued and outstanding shares—18,813,040 in 2007 and 18,705,098 in 2006																																																																							188,000
voting—0.01 par value authorized shares—50,000,000 in 2007 and 2006; issued and outstanding shares—18,806,240 in 2007 and 18,705,098 in 2006																																																																								188,000
voting—0.01 par value authorized shares—50,000,000 in 2007 and 2006; issued and outstanding shares—18,804,240 in 2007 and 18,705,098 in 2006																																																																									188,000
voting—0.01 par value authorized shares—50,000,000 in 2007 and 2006; issued and outstanding shares—18,795,815 in 2007 and 18,705,098 in 2006																																																																										188,000
accumulated deficit																																																																										-8,570,000	-16,988,000	-31,027,000	-39,292,000	-47,110,000	-54,346,000
authorized shares—1,500,000; issued and outstanding shares—none in 2006 and 2005
authorized shares—300,000; issued and outstanding shares—50,000 in 2006 and 300,000 in 2005																																																																											5,000,000
authorized shares—200,000; issued and outstanding shares—200,000 in 2006 and 2005																																																																											20,000,000
authorized—500,000; issued and outstanding shares—none in 2006 and in 2005
voting—0.01 par value authorized shares—50,000,000 in 2006 and 2005; issued and outstanding shares—18,705,098 in 2006 and 17,424,054 in 2005																																																																											187,000
voting—0.01 par value; issued and outstanding shares—17,446,110 in 2006 and 17,424,054 in 2005																																																																												174,000	174,000
income tax benefit																																																																												2,492,000	1,917,000
voting—0.01 par value issued and outstanding shares—17,440,000 in 2006 and 17,424,054 in 2005																																																																														174,000
authorized shares—1,500,000; issued and outstanding shares—none in 2005 and 819,161 in 2004
authorized shares—300,000; issued and outstanding shares—300,000 in 2005 and 2004																																																																															30,000,000
authorized shares—200,000; issued and outstanding shares—200,000 in 2005 and 2004																																																																															20,000,000
authorized—500,000; issued and outstanding shares—none in 2005 and 17,653 in 2004
voting—0.01 par value authorized shares—50,000,000 in 2005 and 100,000,000 in 2004; issued and outstanding shares—17,424,054 in 2005 and 299,774 in 2004																																																																															174,000
deferred stock-based compensation																																																																															-30,000

We provide you with 20 years of balance sheets for AMERISAFE stock, allowing you to gain comprehensive visibility into the fundamentals of the company. Our detailed breakdowns include key financial metrics such as asset and liabilities, payables and receivables, long debts and short debts, cash and inventories, expenses and profits. This in-depth information is essential for making informed investment decisions and understanding the financial health and performance of AMERISAFE. Explore the full financial landscape of AMERISAFE stock with our expertly curated balance sheets.

The information provided in this report about AMERISAFE stock is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.