National Security Group, Inc. (NSEC) financial statements (2023 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in thousands)

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 investments10,693 11,8095,7836,7517,475
Cash and cash equivalents6,716 11,8095,6766,6447,368
Short-term investments3,977  107107107
Receivables   1,463393941
Total current assets:10,693 11,8097,2467,1448,416
Noncurrent Assets
Operating lease, right-of-use asset  389
Property, plant and equipment1,536 1,6301,6491,7811,880
Deferred income tax assets2,403  
Total noncurrent assets:3,939 2,0191,6491,7811,880
Other undisclosed assets137,051 140,106135,336137,513138,283
TOTAL ASSETS:151,683 153,934144,231146,438148,579
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities750     
Accrued liabilities750     
Debt500 5002,2001,3001,800
Total current liabilities:1,250 5002,2001,3001,800
Noncurrent Liabilities
Other undisclosed liabilities106,631 99,97396,16597,51398,727
Total liabilities:107,881 100,47398,36598,813100,527
Stockholders' equity
Stockholders' equity attributable to parent43,802 53,46145,86647,62548,052
Common stock2,535 2,5322,5272,5222,517
Treasury stock, value(43) (7)   
Additional paid in capital5,650 5,6025,5545,4835,412
Accumulated other comprehensive income (loss)2,021 2,443(1,570)2,6461,007
Retained earnings33,639 42,89139,35536,97439,116
Total stockholders' equity:43,802 53,46145,86647,62548,052
TOTAL LIABILITIES AND EQUITY:151,683 153,934144,231146,438148,579

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues66,210 67,39964,85765,64066,893
Premiums earned, net61,423 59,883 
Financial services revenue60,85661,16361,398
Cost of revenue(47,204) (44,527)(46,163)(48,903)(44,557)
Policyholder benefits and claims incurred, net(41,272) (38,598) 
Financial services costs(40,409)(42,869)(38,847)
Gross profit:19,006 22,87218,69416,73722,336
Operating expenses(17,730) (17,127)(16,394)(16,544)(16,890)
Operating income:1,276 5,7452,3001935,446
Interest and debt expense(592) (1,165)(1,235)(1,307)(1,352)
Income (loss) from continuing operations before income taxes:684 4,5801,065(1,114)4,094
Income tax expense(102) (513)(286)(89)(1,031)
Net income (loss) available to common stockholders, diluted:582 4,067779(1,203)3,063

Comprehensive Income ($ in thousands)

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

Statements sources

The financial statements are based on the company's filings with the 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.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: