BALANCE SHEET
|
| Dollars in Thousands |
Year Ended December 31 |
|
| Assets |
2006 |
2005 |
| Bonds |
$514,682 | $489,243 |
| Preferred stocks |
3,341 | 412 |
| Common stocks |
19,214 |
16,818 |
| Mortgage loans |
127,093 |
126,184 |
| Real estate |
3,884 |
3,673 |
| Policy loans |
74,449 |
66,766 |
| Cash & short-term securities |
4,683 |
1,047 |
| Premiums deferred and uncollected |
46,160 |
46,481 |
| Other assets |
48,008 |
37,555 |
|  | |
| TOTAL ADMITTED ASSETS |
$841,514 |
$788,179 |
|  | |
| Dollars in Thousands |
Year Ended December 31 |
|
| Liabilities |
2006 |
2005 |
| Policy reserves |
$677,343 |
$635,216 |
| Policy and contract claims |
13,815 |
15,004 |
| Deposit-Type Contracts |
20,182 |
20,983 |
| Other policyholder funds |
2,933 |
2,829 |
| Other liabilities |
29,164 |
26,024 |
| Interest maintenance reserve (IMR) |
3,103 |
3,485 |
| Asset valuation reserve (AVR) |
5,563 |
5,222 |
| | |
| TOTAL LIABILITIES |
752,102 |
708,763 |
| SURPLUS |
89,411 |
79,416 |
| | |
|
| TOTAL LIABILITIES & SURPLUS |
$841,514 |
$788,179 |
| | |
STATEMENT OF OPERATIONS
|
| Dollars in Thousands |
Year Ended December 31 |
|
| Income |
2006 |
2005 |
| Premium income |
$184,722 |
$188,873 |
| Net investment income |
41,999 |
39,465 |
| Other income |
14,290 |
14,674 |
| | |
| TOTAL INCOME |
241,011 |
243,012 |
| | |
| POLICY HOLDER BENEFITS & EXPENSES | | |
| Life insurance benefits |
64,468 |
64,149 |
| Accident & health benefits |
19,645 |
22,950 |
| Other policy benefits |
22,491 |
21,103 |
| Increase in reserves |
43,108 |
39,917 |
| Commissions |
38,321 |
42,888 |
| General expenses |
31,015 |
30,407 |
| Taxes other than federal income taxes |
6,891 |
7,249 |
| Dividends to policy holders |
897 |
877 |
| | |
| TOTAL BENEFITS & EXPENSES |
226,836 |
229,540 |
| | |
|
| GAIN FROM OPERATIONS |
$14,175 |
$13,472 |
| | |
| Dollars in Thousands |
Year Ended December 31 |
|
| Surplus |
2006 |
2005 |
| GAIN FROM OPERATIONS |
$14,175 |
$13,472 |
| Less Federal income tax |
6,685 |
5,559 |
| | |
| | |
| NET GAIN FROM OPERATIONS |
7,490 |
7,913 |
| Realized capital gain(loss) |
75
|
35 |
| Transfer (to)/from IMR |
(395) |
29 |
| | |
| | |
| NET INCOME |
7,169 |
7,977 |
| Other surplus changes (Net) |
2,826 |
4,201 |
| Surplus beginning of year |
79,416 |
67,238 |
| | |
| | |
| SURPLUS AT END OF YEAR |
89,411 |
79,416 |
| | |
|
