10-K Filing

ATLANTIC AMERICAN CORP CIK: 8177 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001140361-13-014090`
Period End Date	20121231
Filing Date	20130327
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	aame-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 34 Cash Flow Statement 54 Stockholders Equity 22 Comprehensive Income 22

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.95M	USD	Point-in-time
Insurance premiums and other, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables`	$405.00K	USD	Point-in-time
Insurance premiums and other, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables`	$379.00K	USD	Point-in-time
Investments	`Investments`	$246.89M	USD	Point-in-time
Investments	`Investments`	$229.78M	USD	Point-in-time
Reinsurance	`ReinsuranceRecoverables`	$15.67M	USD	Point-in-time
Reinsurance	`ReinsuranceRecoverables`	$18.77M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Insurance premiums and other, net of allowance for doubtful accounts of $379 and $405 in 2012 and 2011, respectively	`PremiumsAndOtherReceivablesNet`	$6.33M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Insurance premiums and other, net of allowance for doubtful accounts of $379 and $405 in 2012 and 2011, respectively	`PremiumsAndOtherReceivablesNet`	$8.29M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Deferred acquisition costs	`DeferredPolicyAcquisitionCosts`	$26.13M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Deferred acquisition costs	`DeferredPolicyAcquisitionCosts`	$24.26M	USD	Point-in-time
Other assets	`OtherAssets`	$706.00K	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	70,000.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	70,000.00	shares	Point-in-time
Other assets	`OtherAssets`	$975.00K	USD	Point-in-time
Goodwill	`Goodwill`	$2.13M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	70,000.00	shares	Point-in-time
Goodwill	`Goodwill`	$2.13M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	70,000.00	shares	Point-in-time
Preferred stock, redemption value	`PreferredStockRedemptionAmount`	$7.00M	USD	Point-in-time
Total assets	`Assets`	$302.12M	USD	Point-in-time
Total assets	`Assets`	$320.18M	USD	Point-in-time
Preferred stock, redemption value	`PreferredStockRedemptionAmount`	$7.00M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Insurance reserves and policyholder funds	`LiabilityForFuturePolicyBenefitsAndUnpaidClaimsAndClaimsAdjustmentExpenseAndOtherPolicyholderFunds`	$154.56M	USD	Point-in-time
Insurance reserves and policyholder funds	`LiabilityForFuturePolicyBenefitsAndUnpaidClaimsAndClaimsAdjustmentExpenseAndOtherPolicyholderFunds`	$147.19M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$14.10M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	22.40M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$11.48M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	22.40M	shares	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilities`	$3.32M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	21.27M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	21.22M	shares	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilities`	$7.16M	USD	Point-in-time
Treasury stock, at cost (in shares)	`TreasuryStockShares`	1.18M	shares	Point-in-time
Debt payable	`JuniorSubordinatedNotes`	$41.24M	USD	Point-in-time
Treasury stock, at cost (in shares)	`TreasuryStockShares`	1.13M	shares	Point-in-time
Debt payable	`JuniorSubordinatedNotes`	$41.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$205.85M	USD	Point-in-time
Total liabilities	`Liabilities`	$214.44M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $1 par, 4,000,000 shares authorized; Series D preferred, 70,000 shares issued and outstanding; $7,000 redemption value	`PreferredStockValue`	$70.00K	USD	Point-in-time
Preferred stock, $1 par, 4,000,000 shares authorized; Series D preferred, 70,000 shares issued and outstanding; $7,000 redemption value	`PreferredStockValue`	$70.00K	USD	Point-in-time
Common stock, $1 par, 50,000,000 shares authorized; 22,400,894 shares issued; 21,216,542 shares and 21,274,241 shares outstanding in 2012 and 2011, respectively	`CommonStockValue`	$22.40M	USD	Point-in-time
Common stock, $1 par, 50,000,000 shares authorized; 22,400,894 shares issued; 21,216,542 shares and 21,274,241 shares outstanding in 2012 and 2011, respectively	`CommonStockValue`	$22.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$57.14M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$57.18M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.62M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.18M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$19.57M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$12.24M	USD	Point-in-time
Treasury stock, at cost, 1,184,352 shares in 2012 and 1,126,653 shares in 2011	`TreasuryStockValue`	$2.11M	USD	Point-in-time
Treasury stock, at cost, 1,184,352 shares in 2012 and 1,126,653 shares in 2011	`TreasuryStockValue`	$1.75M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$96.28M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$105.74M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$82.69M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$320.18M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$302.12M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Insurance premiums	`PremiumsEarnedNet`	$126.74M	USD	Annual
Insurance premiums	`PremiumsEarnedNet`	$107.47M	USD	Annual
Investment income	`NetInvestmentIncome`	$11.50M	USD	Annual
Investment income	`NetInvestmentIncome`	$10.59M	USD	Annual
Realized investment gains, net	`RealizedInvestmentGainsLosses`	$1.43M	USD	Annual
Realized investment gains, net	`RealizedInvestmentGainsLosses`	$27.00K	USD	Annual
Other income	`OtherIncome`	$247.00K	USD	Annual
Other income	`OtherIncome`	$147.00K	USD	Annual
Total revenue	`Revenues`	$118.33M	USD	Annual
Total revenue	`Revenues`	$139.83M	USD	Annual
Insurance benefits and losses incurred	`PolicyholderBenefitsAndClaimsIncurredNet`	$89.82M	USD	Annual
Insurance benefits and losses incurred	`PolicyholderBenefitsAndClaimsIncurredNet`	$73.61M	USD	Annual
Commissions and underwriting expenses	`CommissionsAndUnderwritingExpenses`	$29.54M	USD	Annual
Commissions and underwriting expenses	`CommissionsAndUnderwritingExpenses`	$32.48M	USD	Annual
Interest expense	`InterestExpense`	$2.60M	USD	Annual
Interest expense	`InterestExpense`	$2.63M	USD	Annual
Other	`OtherExpenses`	$9.27M	USD	Annual
Other	`OtherExpenses`	$9.82M	USD	Annual
Total expenses	`BenefitsLossesAndExpenses`	$134.75M	USD	Annual
Total expenses	`BenefitsLossesAndExpenses`	$115.02M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.08M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.31M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$646.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$25.00K	USD	Annual
Net income	`NetIncomeLoss`	$4.44M	USD	Annual
Net income	`NetIncomeLoss`	$3.29M	USD	Annual
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$508.00K	USD	Annual
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$508.00K	USD	Annual
Net income applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.78M	USD	Annual
Net income applicable to common stock	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.93M	USD	Annual
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.19	USD	Annual
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.13	USD	Annual
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.18	USD	Annual
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.12	USD	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.44M	USD	Annual
Net income	`NetIncomeLoss`	$3.29M	USD	Annual
Amortization of deferred acquisition costs	`DeferredPolicyAcquisitionCostAmortizationExpense`	$10.45M	USD	Annual
Amortization of deferred acquisition costs	`DeferredPolicyAcquisitionCostAmortizationExpense`	$10.47M	USD	Annual
Acquisition costs deferred	`DeferredPolicyAcquisitionCostsAdditions`	$-12.76M	USD	Annual
Acquisition costs deferred	`DeferredPolicyAcquisitionCostsAdditions`	$-12.32M	USD	Annual
Realized investment gains, net	`RealizedInvestmentGainsLosses`	$1.43M	USD	Annual
Realized investment gains, net	`RealizedInvestmentGainsLosses`	$27.00K	USD	Annual
Increase in insurance reserves and policyholder funds	`IncreaseDecreaseInInsuranceLiabilities`	$7.36M	USD	Annual
Increase in insurance reserves and policyholder funds	`IncreaseDecreaseInInsuranceLiabilities`	$8.46M	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$388.00K	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$469.00K	USD	Annual
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-97.00K	USD	Annual
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-374.00K	USD	Annual
Increase in receivables, net	`IncreaseDecreaseInReceivables`	$2.60M	USD	Annual
Increase in receivables, net	`IncreaseDecreaseInReceivables`	$1.14M	USD	Annual
(Decrease) increase in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.38M	USD	Annual
(Decrease) increase in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.69M	USD	Annual
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-598.00K	USD	Annual
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$233.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.12M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.13M	USD	Annual
Proceeds from investments sold	`ProceedsFromSaleOfMarketableSecuritiesAndOtherInvestments`	$24.48M	USD	Annual
Proceeds from investments sold	`ProceedsFromSaleOfMarketableSecuritiesAndOtherInvestments`	$39.45M	USD	Annual
Proceeds from investments matured, called or redeemed	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$14.46M	USD	Annual
Proceeds from investments matured, called or redeemed	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$11.98M	USD	Annual
Investments purchased	`PaymentsToAcquireInvestments`	$44.40M	USD	Annual
Investments purchased	`PaymentsToAcquireInvestments`	$65.49M	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$169.00K	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$56.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.12M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.64M	USD	Annual
Payment of dividends on common stock	`PaymentsOfDividendsCommonStock`	$1.49M	USD	Annual
Payment of dividends on common stock	`PaymentsOfDividendsCommonStock`	$445.00K	USD	Annual
Payment of dividends on Series D Preferred Stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$1.01M	USD	Annual
Payment of dividends on Series D Preferred Stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	-	USD	Annual
Proceeds from shares issued under stock plans	`ProceedsFromStockPlans`	$222.00K	USD	Annual
Proceeds from shares issued under stock plans	`ProceedsFromStockPlans`	$297.00K	USD	Annual
Purchase of shares for treasury	`PaymentsForRepurchaseOfCommonStock`	$607.00K	USD	Annual
Purchase of shares for treasury	`PaymentsForRepurchaseOfCommonStock`	$1.82M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.81M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.05M	USD	Annual
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.04M	USD	Annual
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.33M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$28.32M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$21.29M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$18.95M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$28.32M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$21.29M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$18.95M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$2.64M	USD	Annual
Cash paid for interest	`InterestPaid`	$2.59M	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$405.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Treasury shares purchased (in shares)	`TreasuryStockSharesAcquired`	219,939.00	shares	Annual
Treasury shares purchased (in shares)	`TreasuryStockSharesAcquired`	1.16M	shares	Annual
Stock options issued (in shares)	`StockIssuedDuringPeriodSharesShareBasedCompensationGross`	162,240.00	shares	Annual
Stock options issued (in shares)	`StockIssuedDuringPeriodSharesShareBasedCompensationGross`	177,500.00	shares	Annual
Balance	`StockholdersEquity`	$96.28M	USD	Point-in-time
Balance	`StockholdersEquity`	$105.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$82.69M	USD	Point-in-time
Net income	`NetIncomeLoss`	$4.44M	USD	Annual
Net income	`NetIncomeLoss`	$3.29M	USD	Annual
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$12.85M	USD	Annual
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$7.33M	USD	Annual
Dividends on common stock	`DividendsCommonStock`	$445.00K	USD	Annual
Dividends on common stock	`DividendsCommonStock`	$1.49M	USD	Annual
Dividends on preferred stock	`DividendsPreferredStock`	$508.00K	USD	Annual
Dividends on preferred stock	`DividendsPreferredStock`	$508.00K	USD	Annual
Purchase of shares for treasury	`TreasuryStockValueAcquiredCostMethod`	$1.82M	USD	Annual
Purchase of shares for treasury	`TreasuryStockValueAcquiredCostMethod`	$607.00K	USD	Annual
Issuance of shares under stock plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$222.00K	USD	Annual
Issuance of shares under stock plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$297.00K	USD	Annual
Balance	`StockholdersEquity`	$96.28M	USD	Point-in-time
Balance	`StockholdersEquity`	$105.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$82.69M	USD	Point-in-time

Comprehensive Income 22 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.44M	USD	Annual
Net income	`NetIncomeLoss`	$3.29M	USD	Annual
Gross unrealized holding gain arising in the period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$18.78M	USD	Annual
Gross unrealized holding gain arising in the period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$11.97M	USD	Annual
Related income tax effect	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$4.19M	USD	Annual
Related income tax effect	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$6.57M	USD	Annual
Less: reclassification adjustment for net realized gains (losses) included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeBeforeTax`	$308.00K	USD	Annual
Less: reclassification adjustment for net realized gains (losses) included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeBeforeTax`	$-1.43M	USD	Annual
Related income tax effect	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeTax`	$-502.00K	USD	Annual
Related income tax effect	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeTax`	$108.00K	USD	Annual
Net effect on other comprehensive income	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$6.85M	USD	Annual
Net effect on other comprehensive income	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$12.41M	USD	Annual
Fair value adjustment to derivative financial instrument	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax`	$735.00K	USD	Annual
Fair value adjustment to derivative financial instrument	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax`	$677.00K	USD	Annual
Related income tax effect	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$257.00K	USD	Annual
Related income tax effect	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$237.00K	USD	Annual
Net effect on other comprehensive income	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$478.00K	USD	Annual
Net effect on other comprehensive income	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$440.00K	USD	Annual
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$12.85M	USD	Annual
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$7.33M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.14M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$11.76M	USD	Annual

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.