Financial Summary

ASSETS	2010	2009
Cash in Banks	$2,308,514	$3,011,316
Bonds	$50,741,847	$56,318,103
Stocks (Market Value)	$143,706,208	$127,313,242
Other Investments	$326,111	$357,918
Real Estate	$3,020,799	$3,129,665
Premium Balances	$2,426,985	$2,466,921
Other Assets	$4,459,184	$3,079,048
TOTAL	$206,989,648	$195,676,213
LIABILITIES	2010	2009
Reserve for Unearned Premium	$30,057,722	$30,400,736
Reserve for Losses & Adjusting	$18,004,088	$16,234,222
Reserve for Deferred Income Taxes	$18,418,173	$14,805,357
Federal Income Tax Payable	-	$776,670
Reserve for Other Liabilities	$4,467,177	$4,820,906
Total Liabilities	$70,947,160	$67,037,891
Policyholders Security Account	$136,042,488	$128,638,322
TOTAL	$206,989,648	$195,676,213
OPERATING RESULTS	2010	2009
Premiums Earned	$53,744,548	$56,538,180
Losses Incurred	$38,564,999	$32,940,864
Loss Adjusting Expense	$5,377,820	$4,388,021
Underwriting Expense	$19,831,076	$20,704,588
RESULTS FROM UNDERWRITING	($10,029,347)	($1,495,293)
Investment Income	$4,619,256	$4,497,823
Realized Capital Gains (Losses)	$2,939,031	$4,600,541
Unrealized Capital Gains (Losses)	$15,855,456	$7,452,019
Capital Adjustments	($6,938,694)	($3,983,829)
RESULTS FROM INVESTMENTS	$16,475,049	$12,566,554
Federal Income Tax Incurred	($958,464)	$1,676,089
Net Gain (Loss)	$7,404,166	$9,395,172
POLICYHOLDERS SECURITY ACCOUNT	$136,042,488	$128,638,322

Last Modified: Monday, 21-Feb-2011 16:05:31 Eastern Standard Time