10-K Filing

ATLANTIC AMERICAN CORP CIK: 8177 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001567619-17-000512`
Period End Date	20161231
Filing Date	20170324
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	aame-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 32 Cash Flow Statement 56 Stockholders Equity 26 Comprehensive Income 14

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.38M	USD	Point-in-time
Insurance premiums and other, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables`	$280.00K	USD	Point-in-time
Investments	`Investments`	$238.38M	USD	Point-in-time
Investments	`Investments`	$244.18M	USD	Point-in-time
Insurance premiums and other, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables`	$528.00K	USD	Point-in-time
Reinsurance	`ReinsuranceRecoverablesOnPaidAndUnpaidLosses`	$11.76M	USD	Point-in-time
Reinsurance	`ReinsuranceRecoverablesOnPaidAndUnpaidLosses`	$11.70M	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 $280 and $528 in 2016 and 2015, respectively	`PremiumsAndOtherReceivablesNet`	$11.99M	USD	Point-in-time
Insurance premiums and other, net of allowance for doubtful accounts of $280 and $528 in 2016 and 2015, respectively	`PremiumsAndOtherReceivablesNet`	$12.58M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNet`	$829.00K	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNet`	$160.00K	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	55,000.00	shares	Point-in-time
Deferred acquisition costs	`DeferredPolicyAcquisitionCosts`	$28.98M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	55,000.00	shares	Point-in-time
Deferred acquisition costs	`DeferredPolicyAcquisitionCosts`	$27.87M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	55,000.00	shares	Point-in-time
Other assets	`OtherAssets`	$5.21M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	55,000.00	shares	Point-in-time
Other assets	`OtherAssets`	$5.61M	USD	Point-in-time
Preferred stock, redemption value	`PreferredStockRedemptionAmount`	$5.50M	USD	Point-in-time
Intangibles	`IntangibleAssetsNetIncludingGoodwill`	$2.54M	USD	Point-in-time
Intangibles	`IntangibleAssetsNetIncludingGoodwill`	$2.54M	USD	Point-in-time
Preferred stock, redemption value	`PreferredStockRedemptionAmount`	$5.50M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Total assets	`Assets`	$318.60M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Total assets	`Assets`	$314.60M	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
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	22.40M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	22.40M	shares	Point-in-time
Insurance reserves and policyholder funds	`LiabilityForFuturePolicyBenefitsAndUnpaidClaimsAndClaimsAdjustmentExpenseAndOtherPolicyholderFunds`	$163.34M	USD	Point-in-time
Insurance reserves and policyholder funds	`LiabilityForFuturePolicyBenefitsAndUnpaidClaimsAndClaimsAdjustmentExpenseAndOtherPolicyholderFunds`	$162.68M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$15.03M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	20.45M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$16.68M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	20.43M	shares	Point-in-time
Treasury stock, at cost (in shares)	`TreasuryStockShares`	1.95M	shares	Point-in-time
Junior subordinated debenture obligations, net	`JuniorSubordinatedNotesNet`	$33.74M	USD	Point-in-time
Treasury stock, at cost (in shares)	`TreasuryStockShares`	1.97M	shares	Point-in-time
Junior subordinated debenture obligations, net	`JuniorSubordinatedNotesNet`	$33.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$212.11M	USD	Point-in-time
Total liabilities	`Liabilities`	$213.09M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $1 par, 4,000,000 shares authorized; Series D preferred, 55,000 shares issued and outstanding; $5,500 redemption value	`PreferredStockValue`	$55.00K	USD	Point-in-time
Preferred stock, $1 par, 4,000,000 shares authorized; Series D preferred, 55,000 shares issued and outstanding; $5,500 redemption value	`PreferredStockValue`	$55.00K	USD	Point-in-time
Common stock, $1 par, 50,000,000 shares authorized; 22,400,894 shares issued; 20,446,705 and 20,426,536 shares outstanding in 2016 and 2015, respectively	`CommonStockValue`	$22.40M	USD	Point-in-time
Common stock, $1 par, 50,000,000 shares authorized; 22,400,894 shares issued; 20,446,705 and 20,426,536 shares outstanding in 2016 and 2015, respectively	`CommonStockValue`	$22.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$57.11M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$56.62M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$27.27M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$25.44M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$5.83M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.58M	USD	Point-in-time
Unearned stock grant compensation	`DeferredCompensationEquity`	$428.00K	USD	Point-in-time
Unearned stock grant compensation	`DeferredCompensationEquity`	$273.00K	USD	Point-in-time
Treasury stock, at cost, 1,954,189 and 1,974,358 shares in 2016 and 2015, respectively	`TreasuryStockValue`	$6.34M	USD	Point-in-time
Treasury stock, at cost, 1,954,189 and 1,974,358 shares in 2016 and 2015, respectively	`TreasuryStockValue`	$6.74M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$105.51M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$102.49M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$104.19M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$314.60M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$318.60M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Insurance premiums	`PremiumsEarnedNet`	$150.89M	USD	Annual
Insurance premiums	`PremiumsEarnedNet`	$153.47M	USD	Annual
Investment income	`GrossInvestmentIncomeOperating`	$9.88M	USD	Annual
Investment income	`GrossInvestmentIncomeOperating`	$10.09M	USD	Annual
Realized investment gains, net	`RealizedInvestmentGainsLosses`	$4.86M	USD	Annual
Realized investment gains, net	`RealizedInvestmentGainsLosses`	$2.60M	USD	Annual
Other income	`OtherIncome`	$133.00K	USD	Annual
Other income	`OtherIncome`	$103.00K	USD	Annual
Total revenue	`Revenues`	$166.08M	USD	Annual
Total revenue	`Revenues`	$165.94M	USD	Annual
Insurance benefits and losses incurred	`PolicyholderBenefitsAndClaimsIncurredNet`	$101.36M	USD	Annual
Insurance benefits and losses incurred	`PolicyholderBenefitsAndClaimsIncurredNet`	$103.20M	USD	Annual
Commissions and underwriting expenses	`CommissionsAndUnderwritingExpenses`	$44.80M	USD	Annual
Commissions and underwriting expenses	`CommissionsAndUnderwritingExpenses`	$43.23M	USD	Annual
Interest expense	`InterestExpense`	$1.43M	USD	Annual
Interest expense	`InterestExpense`	$1.56M	USD	Annual
Other expense	`OtherExpenses`	$14.20M	USD	Annual
Other expense	`OtherExpenses`	$13.00M	USD	Annual
Total benefits and expenses	`BenefitsLossesAndExpenses`	$162.55M	USD	Annual
Total benefits and expenses	`BenefitsLossesAndExpenses`	$160.23M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.52M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.71M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$1.32M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$888.00K	USD	Annual
Net income	`NetIncomeLoss`	$2.64M	USD	Annual
Net income	`NetIncomeLoss`	$4.39M	USD	Annual
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$399.00K	USD	Annual
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$399.00K	USD	Annual
Net income applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.99M	USD	Annual
Net income applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.24M	USD	Annual
Earnings per common share (basic and diluted) (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.19	USD	Annual
Earnings per common share (basic and diluted) (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.11	USD	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.64M	USD	Annual
Net income	`NetIncomeLoss`	$4.39M	USD	Annual
Amortization of deferred acquisition costs	`DeferredPolicyAcquisitionCostAmortizationExpense`	$10.32M	USD	Annual
Amortization of deferred acquisition costs	`DeferredPolicyAcquisitionCostAmortizationExpense`	$11.88M	USD	Annual
Acquisition costs deferred	`DeferredPolicyAcquisitionCostsAdditions`	$12.99M	USD	Annual
Acquisition costs deferred	`DeferredPolicyAcquisitionCostsAdditions`	$11.21M	USD	Annual
Realized investment gains, net	`RealizedInvestmentGainsLosses`	$4.86M	USD	Annual
Realized investment gains, net	`RealizedInvestmentGainsLosses`	$2.60M	USD	Annual
Decrease in insurance reserves and policyholder funds	`IncreaseDecreaseInInsuranceLiabilities`	$-749.00K	USD	Annual
Decrease in insurance reserves and policyholder funds	`IncreaseDecreaseInInsuranceLiabilities`	$-666.00K	USD	Annual
Compensation expense related to share awards	`AllocatedShareBasedCompensationExpense`	$365.00K	USD	Annual
Compensation expense related to share awards	`AllocatedShareBasedCompensationExpense`	$586.00K	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$1.12M	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$1.21M	USD	Annual
Deferred income tax (benefit) expense	`DeferredIncomeTaxExpenseBenefit`	$-2.00K	USD	Annual
Deferred income tax (benefit) expense	`DeferredIncomeTaxExpenseBenefit`	$304.00K	USD	Annual
(Increase) decrease in receivables, net	`IncreaseDecreaseInReceivables`	$407.00K	USD	Annual
(Increase) decrease in receivables, net	`IncreaseDecreaseInReceivables`	$-1.33M	USD	Annual
Increase in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.65M	USD	Annual
Increase in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.44M	USD	Annual
Other, net	`IncreaseDecreaseInOtherOperatingAssets`	$-19.00K	USD	Annual
Other, net	`IncreaseDecreaseInOtherOperatingAssets`	$245.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.21M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.32M	USD	Annual
Proceeds from investments sold	`ProceedsFromSaleOfMarketableSecuritiesAndOtherInvestments`	$62.36M	USD	Annual
Proceeds from investments sold	`ProceedsFromSaleOfMarketableSecuritiesAndOtherInvestments`	$84.87M	USD	Annual
Proceeds from investments matured, called or redeemed	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$5.92M	USD	Annual
Proceeds from investments matured, called or redeemed	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$10.87M	USD	Annual
Investments purchased	`PaymentsToAcquireInvestments`	$91.68M	USD	Annual
Investments purchased	`PaymentsToAcquireInvestments`	$75.07M	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$396.00K	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$322.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.20M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.23M	USD	Annual
Payment of dividends on Series D Preferred Stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$399.00K	USD	Annual
Payment of dividends on Series D Preferred Stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$399.00K	USD	Annual
Payment of dividends on common stock	`PaymentsOfDividendsCommonStock`	$408.00K	USD	Annual
Payment of dividends on common stock	`PaymentsOfDividendsCommonStock`	$412.00K	USD	Annual
Proceeds from shares issued under stock plans	`ProceedsFromStockPlans`	$51.00K	USD	Annual
Proceeds from shares issued under stock plans	`ProceedsFromStockPlans`	$47.00K	USD	Annual
Purchase of shares for treasury	`PaymentsForRepurchaseOfCommonStock`	$997.00K	USD	Annual
Purchase of shares for treasury	`PaymentsForRepurchaseOfCommonStock`	$698.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.45M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.76M	USD	Annual
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.37M	USD	Annual
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-753.00K	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$15.62M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$13.25M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$16.38M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$15.62M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$13.25M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$16.38M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$1.54M	USD	Annual
Cash paid for interest	`InterestPaid`	$1.42M	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$675.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$1.47M	USD	Annual

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Treasury shares purchased (in shares)	`TreasuryStockSharesAcquired`	173,008.00	shares	Annual
Treasury shares purchased (in shares)	`TreasuryStockSharesAcquired`	233,368.00	shares	Annual
Shares issued under stock plans (in shares)	`StockIssuedDuringPeriodSharesShareBasedCompensationGross`	11,565.00	shares	Annual
Shares issued under stock plans (in shares)	`StockIssuedDuringPeriodSharesShareBasedCompensationGross`	13,177.00	shares	Annual
Beginning Balance	`StockholdersEquity`	$105.51M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$102.49M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$104.19M	USD	Point-in-time
Net income	`NetIncomeLoss`	$2.64M	USD	Annual
Net income	`NetIncomeLoss`	$4.39M	USD	Annual
Other comprehensive income (loss) , net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.25M	USD	Annual
Other comprehensive income (loss) , net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-4.70M	USD	Annual
Dividends on common stock	`DividendsCommonStock`	$412.00K	USD	Annual
Dividends on common stock	`DividendsCommonStock`	$408.00K	USD	Annual
Dividends on preferred stock	`DividendsPreferredStock`	$399.00K	USD	Annual
Dividends on preferred stock	`DividendsPreferredStock`	$399.00K	USD	Annual
Restricted stock grants	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	Annual
Restricted stock grants	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	Annual
Amortization of unearned compensation	`AmortizationOfRestrictedStock`	$365.00K	USD	Annual
Amortization of unearned compensation	`AmortizationOfRestrictedStock`	$586.00K	USD	Annual
Purchase of shares for treasury	`TreasuryStockValueAcquiredCostMethod`	$698.00K	USD	Annual
Purchase of shares for treasury	`TreasuryStockValueAcquiredCostMethod`	$997.00K	USD	Annual
Issuance of shares under stock plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$51.00K	USD	Annual
Issuance of shares under stock plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$47.00K	USD	Annual
Ending Balance	`StockholdersEquity`	$105.51M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$102.49M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$104.19M	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.64M	USD	Annual
Net income	`NetIncomeLoss`	$4.39M	USD	Annual
Gross unrealized holding gain (loss) arising in the period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-2.37M	USD	Annual
Gross unrealized holding gain (loss) arising in the period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$4.51M	USD	Annual
Related income tax effect	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$1.58M	USD	Annual
Related income tax effect	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$-828.00K	USD	Annual
Less: reclassification adjustment for net realized gains included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax`	$4.86M	USD	Annual
Less: reclassification adjustment for net realized gains included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax`	$2.60M	USD	Annual
Related income tax effect	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	$908.00K	USD	Annual
Related income tax effect	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	$1.70M	USD	Annual
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.25M	USD	Annual
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-4.70M	USD	Annual
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$3.88M	USD	Annual
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-307.00K	USD	Annual

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