National Security Group, Inc. (NSEC) Financial Statements (2024 and earlier)

Company Profile

Business Address 661 E DAVIS ST
ELBA, AL 36323
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6311 - Life Insurance (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2022
Q1
12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments10,69314,8796,7596,813 15,057
Cash and cash equivalents6,71610,0426,7596,813 15,057
Short-term investments3,9774,837    
Total current assets:10,69314,8796,7596,813 15,057
Noncurrent Assets
Property, plant and equipment1,5361,5161,5261,551 1,577
Deferred income tax assets2,4031,250910776 214
Total noncurrent assets:3,9392,7662,4362,327 1,791
Other undisclosed assets137,051145,614144,353142,435 138,708
TOTAL ASSETS:151,683163,259153,548151,575 155,556
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities750750625625  
Accrued liabilities750750625625  
Debt500500500500 500
Total current liabilities:1,2501,2501,1251,125 500
Noncurrent Liabilities
Other undisclosed liabilities106,631118,991108,194105,660 107,994
Total liabilities:107,881120,241109,319106,785 108,494
Equity
Equity, attributable to parent43,80243,01844,22944,790 47,062
Common stock2,5352,5352,5352,533 2,533
Treasury stock, value(43)(43)(43)(43) (41)
Additional paid in capital5,6505,6505,6505,626 5,626
Accumulated other comprehensive income (loss)2,0212,6283,0432,439 2,872
Retained earnings33,63932,24833,04434,235 36,072
Total equity:43,80243,01844,22944,790 47,062
TOTAL LIABILITIES AND EQUITY:151,683163,259153,548151,575 155,556

Income Statement (P&L) ($ in thousands)

3/31/2022
Q1
12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
Revenues16,98416,67116,24316,312(49,663)17,765
Premiums earned, net15,86615,68114,81415,062 15,289
Cost of revenue(9,967)(13,260)(13,167)(10,810) (14,743)
Policyholder benefits and claims incurred, net(8,487)(11,773)(11,709)(9,303) (13,303)
Gross profit:7,0173,4113,0765,502 3,022
Operating expenses(4,976)(4,049)(4,265)(4,440) (3,805)
Operating income (loss):2,041(638)(1,189)1,062 (783)
Interest and debt expense(130)(171)(153)(138) (200)
Income (loss) from continuing operations before income taxes:1,911(809)(1,342)924 (983)
Income tax expense (benefit)(368)165303(202) 205
Income (loss) from continuing operations:1,543(644)(1,039)722 (778)
Income (loss) before gain (loss) on sale of properties:1,543(644)(1,039)722(778)
Net income (loss) available to common stockholders, diluted:1,543(644)(1,039)722 (778)

Comprehensive Income ($ in thousands)

3/31/2022
Q1
12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
Net income (loss):1,543(644)(1,039)722 (778)
Other comprehensive income (loss)(607)(415)604(1,146) (447)
Comprehensive income (loss), net of tax, attributable to parent:936(1,059)(435)(424) (1,225)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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