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
MRQ
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 10,6936,49111,8095,7836,7517,475
Cash and cash equivalents 6,7166,49111,8095,6766,6447,368
Short-term investments 3,977  107107107
Receivables    1,463393941
Total current assets: 10,6936,49111,8097,2467,1448,416
Noncurrent Assets
Operating lease, right-of-use asset   389
Property, plant and equipment 1,5361,5721,6301,6491,7811,880
Deferred income tax assets 2,403706 
Total noncurrent assets: 3,9392,2782,0191,6491,7811,880
Other undisclosed assets 137,051141,771140,106135,336137,513138,283
TOTAL ASSETS: 151,683150,540153,934144,231146,438148,579
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 750     
Accrued liabilities 750     
Debt 5005005002,2001,3001,800
Total current liabilities: 1,2505005002,2001,3001,800
Noncurrent Liabilities
Other undisclosed liabilities 106,631104,67499,97396,16597,51398,727
Total liabilities: 107,881105,174100,47398,36598,813100,527
Equity
Equity, attributable to parent 43,80245,36653,46145,86647,62548,052
Common stock 2,5352,5332,5322,5272,5222,517
Treasury stock, value (43)(43)(7)   
Additional paid in capital 5,6505,6265,6025,5545,4835,412
Accumulated other comprehensive income (loss) 2,0213,5852,443(1,570)2,6461,007
Retained earnings 33,63933,66542,89139,35536,97439,116
Total equity: 43,80245,36653,46145,86647,62548,052
TOTAL LIABILITIES AND EQUITY: 151,683150,540153,934144,231146,438148,579

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

3/31/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues 66,21066,64967,39964,85765,64066,893
Premiums earned, net 61,42360,81059,883 
Financial services revenue60,85661,16361,398
Cost of revenue (47,204)(59,962)(44,527)(46,163)(48,903)(44,557)
Policyholder benefits and claims incurred, net (41,272)(53,930)(38,598) 
Financial services costs(40,409)(42,869)(38,847)
Gross profit: 19,0066,68722,87218,69416,73722,336
Operating expenses (17,730)(16,841)(17,127)(16,394)(16,544)(16,890)
Operating income (loss): 1,276(10,154)5,7452,3001935,446
Interest and debt expense (592)(864)(1,165)(1,235)(1,307)(1,352)
Income (loss) from continuing operations before income taxes: 684(11,018)4,5801,065(1,114)4,094
Income tax expense (benefit) (102)2,399(513)(286)(89)(1,031)
Income (loss) from continuing operations: 582(8,619)4,067779(1,203)3,063
Income (loss) before gain (loss) on sale of properties:582(8,619)4,067779(1,203)3,063
Net income (loss) available to common stockholders, diluted: 582(8,619)4,067779(1,203)3,063

Comprehensive Income ($ in thousands)

3/31/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss): 582(8,619)4,067779(1,203)3,063
Other comprehensive income (loss) (1,564)1,1424,013(2,109)1,204482
Comprehensive income (loss), net of tax, attributable to parent: (982)(7,477)8,080(1,330)13,545

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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