State National Companies Inactive 10-Q/A15 Dec 142014 Q3 Quarterly report (amended)Financial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2014	Nov. 14, 2014
Entity Registrant Name	State National Companies, Inc.
Entity Central Index Key	1610793
Document Type	10-Q
Document Period End Date	30-Sep-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		44,247,102
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Investments:
Fixed-maturity securities - available-for-sale, at fair value (amortized cost - $248,460, $178,901, respectively)	$251,778	$180,954
Equity securities - available-for-sale, at fair value (cost - $1,495, $1,340, respectively)	2,587	2,301
Total investments	254,365	183,255
Cash and cash equivalents	83,314	69,431
Restricted cash and investments	6,622	6,800
Accounts receivable from agents, net	20,841	17,306
Reinsurance recoverable on paid losses	1,266	880
Deferred acquisition costs	970	1,095
Reinsurance recoverables	1,620,597	1,372,225
Property and equipment, net (includes land held for sale -$1,034, $1,034, respectively)	18,600	19,265
Interest receivable	1,467	1,333
Income taxes receivable		1,451
Deferred income taxes, net	21,914	3,728
Goodwill and intangible assets, net	6,989	7,906
Other assets	7,587	6,276
Total assets	2,044,532	1,690,951
Liabilities
Unpaid losses and loss adjustment expenses	1,166,509	1,016,641
Unearned premiums	484,852	386,279
Allowance for policy cancellations	45,999	39,623
Deferred ceding fees	23,984	18,735
Accounts payable to agents	2,426	2,564
Accounts payable to insurance companies	3,296	5,285
Subordinated debentures	52,000	52,000
Income taxes payable	768
Other liabilities	32,119	24,370
Other payables, affiliate		100
Total liabilities	1,811,953	1,545,597
Shareholders' equity
Common stock, $.001 par value (150,000,000 shares authorized; 44,247,102 and 40,627,200 shares issued at September 30, 2014 and December 31, 2013, respectively)	44	41
Additional paid-in capital	219,795	24,367
Retained earnings	9,704	128,830
Treasury stock (zero and 6,450,304 shares at cost at September 30, 2014 and December 31, 2013, respectively)		-10,000
Accumulated other comprehensive income	3,036	2,116
Total shareholders' equity	232,579	145,354
Total liabilities and shareholders' equity	$2,044,532	$1,690,951

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Fixed-maturity securities - available-for-sale, amortized cost	$248,460	$178,901
Equity securities - available-for-sale, cost	1,495	1,340
Land held for sale	$1,034	$1,034
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	44,247,102	40,627,200
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	10,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Treasury stock, shares	0	6,450,304

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues:
Premiums earned	$25,599	$20,951	$69,585	$60,433
Commission income	405	567	1,167	1,494
Ceding fees	12,167	8,796	33,025	22,491
Net investment income	1,183	1,247	3,401	3,666
Realized net investment gains	291	310	1,186	1,330
Other income	926	631	3,137	1,811
Total revenues	40,571	32,502	111,501	91,225
Expenses:
Losses and loss adjustment expenses	10,695	8,777	29,009	23,193
Commissions	1,209	513	2,438	2,133
Taxes, licenses, and fees	823	604	2,053	1,769
General and administrative	14,813	13,841	42,321	40,163
Founder special compensation			17,914	10,202
Offering-related expenses	1,101		8,230
Contract modification expense			17,800
Interest Expense, Long-term Debt	580	589	1,728	1,744
Total expenses	29,221	24,324	121,493	79,204
Income (loss) before income taxes	11,350	8,178	-9,992	12,021
Income taxes:
Current tax expense	752	2,525	4,505	4,433
Deferred tax expense (benefit)	3,639	-1,344	-18,663	-1,197
Income taxes	4,391	1,181	-14,158	3,236
Net income	6,959	6,997	4,166	8,785
Net income per share attributable to common shareholders:
Basic earnings per share (in dollars per share)	$0.16	$0.20	$0.11	$0.26
Diluted earnings per share (in dollars per share)	$0.16	$0.20	$0.11	$0.26
Pro Forma:
Basic earnings per share (in dollars per share)	$0.16	$0.15	($0.16)	$0.22
Diluted earnings per share (in dollars per share)	$0.16	$0.15	($0.16)	$0.22
Pro Forma
Income taxes:
Income taxes	4,391	3,119	-3,871	4,585
Net income	$6,959	$5,059	($6,121)	$7,436

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Net income	$6,959	$6,997	$4,166	$8,785
Unrealized gains (losses) on securities:
Unrealized holding gains (losses) during the period	-1,236	438	2,358	-4,194
Tax effect on unrealized holding gains (losses) during the period	432	-153	-813	1,423
Less: reclassification adjustments for realized gains included in net income	-225	-185	-962	-1,086
Tax effect on reclassification adjustments for realized gains included in net income	80	64	337	366
Other comprehensive income (loss)	-949	164	920	-3,491
Total comprehensive income	$6,010	$7,161	$5,086	$5,294

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Shareholders' Equity (USD $)	Common stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income	Total
In Thousands, unless otherwise specified	Common stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income	Total
Balance at Dec. 31, 2012	$41	$24,367	$121,414	($10,000)	$6,401	$142,223
Increase (decrease) in shareholder's equity
Dividends paid			-15,295			-15,295
Net income			22,711			22,711
Other comprehensive loss, net of tax					-4,285	-4,285
Balance at Dec. 31, 2013	41	24,367	128,830	-10,000	2,116	145,354
Increase (decrease) in shareholder's equity
Dividends paid			-16,240			-16,240
Net income			4,166			4,166
Other comprehensive loss, net of tax					920	920
Retirement of treasury stock	-7	-9,993		10,000
Issuance of common stock	31	289,291				289,322
Costs directly attributable to issuance of common stock		-1,578				-1,578
Redemption of existing common stock	-21	-190,574				-190,595
Stock-based compensation expense		1,230				1,230
Conversion from S corporation to C corporation tax status		107,052	-107,052
Balance at Sep. 30, 2014	$44	$219,795	$9,704		$3,036	$232,579

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Operating activities
Net cash provided by operating activities	$3,634	$12,027
Investing activities
Purchase of investments	-101,619	-35,768
Proceeds from sale of investments	12,624	13,182
Proceeds from maturities and principal receipts	19,063	22,328
Proceeds from sale of short-term investments		12,740
Proceeds from maturities of short-term investments		4,248
Proceeds from dispositions of property and equipment	987	99
Purchase of property and equipment	-1,715	-603
Net cash provided by (used in) investing activities	-70,660	16,226
Financing activities
Dividends paid	-16,240	-12,547
Proceeds from issuances of common stock	289,322
Costs directly attributable to issuance of common stock	-1,578
Redemption of existing common stock	-190,595
Net cash provided by (used in) financing activities	80,909	-12,547
Net change in cash and cash equivalents	13,883	15,706
Cash and cash equivalents at beginning of period	69,431	35,079
Cash and cash equivalents at end of period	$83,314	$50,785

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2014
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies
	Description of Business
	State National Companies, Inc. (the Company) refers to a group of companies that conduct insurance-related activities along two major segments. One segment (the Company’s program services segment) involves the writing of “program business,” which includes books of business produced by general agents, for which the Company receives ceding fees. Substantially all of the risk associated with the program business is ceded to unaffiliated, highly rated reinsurance companies or other reinsurers that provide substantial collateral. A second segment (the Company’s lender services segment) involves the writing and insuring of lines of insurance marketed to lending institutions, primarily collateral protection insurance (CPI) policies.
	Basis of Presentation
	Our unaudited condensed consolidated financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and include our accounts and the accounts of our subsidiaries. All significant intercompany accounts and those transactions have been eliminated in consolidation. Certain footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to rules and regulations of the Securities and Exchange Commission (SEC) for interim financial reporting. These unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements for the years ended December 31, 2013 and 2012.
	The interim financial data as of September 30, 2014 and 2013 is unaudited. However, in the opinion of the Company’s management (Management), the interim data includes all adjustments, consisting of normal recurring adjustments, necessary for fair statements of the results for the interim period. The results of operations for the period ended September 30, 2014 and 2013 are not necessarily indicative of the operating results to be expected for the full year.
	Refer to “Summary of Significant Accounting Policies” in our consolidated financial statements for the years ended December 31, 2013, 2012 and 2011 for information on accounting policies that we consider critical in preparing our consolidated financial statements.
	Estimates
	The preparation of financial statements in conformity with GAAP requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from these estimates.
	Property, Equipment, and Depreciation
	Property and equipment are recorded at cost and depreciated. Depreciation is computed using the straight-line method over the estimated useful lives of the assets (ranging from two to twenty years). The Company changed its capitalization threshold as of January 1, 2014 from $1 thousand to $5 thousand per item. Gains and losses on the disposition of fixed assets are determined on a specific asset identification basis and are included in net income. Land held for sale is carried at fair value less expected selling costs.
	Earnings Per Share
	The computation of earnings per share is based upon the weighted average number of common shares outstanding during the period plus the effect of common shares potentially issuable (in periods in which they have a dilutive effect). Earnings per share have been adjusted to reflect a 736 for 1 stock split in the form of a stock dividend on June 23, 2014.
	Income Taxes
	Historically, the Company had elected for its parent company to be taxed for federal income tax purposes as a “Subchapter S corporation” under the Internal Revenue Code. On June 25, 2014, the Company completed a private placement of common stock, which resulted in the termination of its Subchapter S corporation status. Prior to this change in tax status, deferred income taxes were recorded only on the Company’s insurance subsidiaries (and their immediate parent) to reflect the tax consequences on future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each year-end. All other entities included in the consolidated group filed under Subchapter S Corporation status; therefore, no provision for income taxes had been recorded for these entities. The Company recorded a net deferred income tax benefit related to this change in tax status to reflect the tax consequences on future years of differences between the tax bases of assets and liabilities and their financial reporting amounts.
	For any uncertain tax positions not meeting the “more likely than not” recognition threshold, accounting standards require recognition, measurement, and disclosure in the financial statements. There were no uncertain tax positions at September 30, 2014 and December 31, 2013.
	Pro Forma Financial Information
	On June 25, 2014, the Company completed a private placement of common stock, which resulted in the termination of its Subchapter S corporation status. All of the Company’s entities are now considered C corporations. Pro forma amounts for income tax expense (benefit) and basic and diluted earnings per share have been presented assuming the Company’s effective tax rate of 38.8% for the three and nine months ended September 30, 2014 and 38.1% for the three and nine months ended September 30, 2013, as if all entities had been C Corporations during those periods.
	Stock-based Compensation
	Compensation expense for stock-based payments is recognized based on the measurement-date fair value for awards that will settle in shares. Compensation expense for awards that are settled in equity are recognized on a straight line pro rata basis over the vesting period. See Note 8 — “Stock-based Payments” for related disclosures.
	Recent Accounting Pronouncements
	In June 2014, the FASB issued an accounting standards update (ASU 2014-12), “Compensation – Stock Compensation” (Topic 718). The main provision of this ASU requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. This ASU is effective for annual reporting periods beginning after December 15, 2015 and interim periods within those annual periods. This ASU does not impact the Company’s financial statements as the Company has not awarded any performance based stock compensation.
	In May 2014, the FASB issued an accounting standards update (ASU 2014-09), “Revenue from Contracts with Customers” (Topic 606). The core guidance of the ASU presents a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The ASU provides a five-step analysis of transactions to determine when and how revenue is recognized and requires additional disclosures sufficient to describe the nature, amount, timing and uncertainty of revenue and cash flows for these transactions. This ASU is effective for annual periods beginning after December 15, 2016, including interim periods within that period. As insurance contracts are excluded from this ASU, the Company is currently evaluating what impact, if any, this ASU will have on our financial results and disclosures and which adoption method to apply.
	In February 2013, the FASB issued an accounting standards update (ASU 2013-02), “Comprehensive Income” (Topic 220) that requires additional disclosures for amounts reclassified out of accumulated other comprehensive income by component. Additionally, significant amounts reclassified out of accumulated other comprehensive income must be disclosed by the respective line items of net income either on the face of the statement where income is presented or in the notes to the financial statements only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. Amounts that are not required to be reclassified in their entirety to net income should be cross-referenced to other disclosures required under U.S. GAAP that provide additional detail about the amounts. The impact of this disclosure on the Company’s financial statements is minimal.

Investments

Investments	9 Months Ended
Investments	Sep. 30, 2014
Investments	2. Investments
	The following table summarizes information on the amortized cost, gross unrealized gains and losses, and the fair value of investment securities by class:




			Cost or			Gross			Gross
	September 30, 2014		Amortized			Unrealized			Unrealized			Fair
	($ in thousands)		Cost			Gains			Losses			Value

	Fixed-maturity securities
	Government		$	14,446		$	158		$	-87		$	14,517
	Government agency			2,338			58			-13			2,383
	State and municipality			47,924			1,052			-119			48,857
	Industrial and miscellaneous			84,633			2,313			-494			86,452
	Residential mortgage-backed			82,102			1,431			-1,132			82,401
	Commercial mortgage-backed			16,616			233			-98			16,751
	Redeemable preferred stock			401			29			-13			417
	Total fixed-maturity securities			248,460			5,274			-1,956			251,778

	Equity securities
	Non-redeemable preferred stock			1,279			716			–			1,995
	Common stock			216			393			-17			592
	Total equity securities			1,495			1,109			-17			2,587
	Total investments		$	249,955		$	6,383		$	-1,973		$	254,365



			Cost or			Gross			Gross
	December 31, 2013		Amortized			Unrealized			Unrealized			Fair
	($ in thousands)		Cost			Gains			Losses			Value

	Fixed-maturity securities
	Government		$	9,785		$	216		$	-146		$	9,855
	Government agency			2,803			66			-29			2,840
	State and municipality			40,823			919			-557			41,185
	Industrial and miscellaneous			51,005			2,113			-460			52,658
	Residential mortgage-backed			65,622			1,397			-1,685			65,334
	Commercial mortgage-backed			8,462			276			-67			8,671
	Redeemable preferred stock			401			10			–			411
	Total fixed-maturity securities			178,901			4,997			-2,944			180,954

	Equity securities
	Non-redeemable preferred stock			1,191			614			-3			1,802
	Common stock			149			350			–			499
	Total equity securities			1,340			964			-3			2,301
	Total investments		$	180,241		$	5,961		$	-2,947		$	183,255

	Investment securities are exposed to various risks such as interest rate, market, and credit risk. Fair values of securities fluctuate based on the magnitude of changing market conditions; significant changes in market conditions could materially affect the portfolio fair value in the near term.
	The following tables show the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:


	September 30, 2014		Less than 12 Months						12 Months or More						Total
			Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
	($ in thousands)		Value			Losses			Value			Losses			Value			Losses

	Fixed-maturity securities
	Government		$	883		$	-4		$	3,101		$	-83		$	3,984		$	-87
	Government agency			–			–			685			-13			685			-13
	State and municipality			14,301			-83			2,882			-36			17,183			-119
	Industrial and miscellaneous			35,609			-403			3,231			-91			38,840			-494
	Residential mortgage-backed			21,187			-108			22,189			-1,024			43,376			-1,132
	Commercial mortgage-backed			8,399			-67			677			-31			9,076			-98
	Redeemable preferred stock			82			-1			223			-12			305			-13
Total fixed-maturity securities			80,461			-666			32,988			-1,290			113,449			-1,956

Equity securities
Common Stock			187			-17			–			–			187			-17
Total equity securities			187			-17			–			–			187			-17
		$	80,648		$	-683		$	32,988		$	-1,290		$	113,636		$	-1,973



December 31, 2013		Less than 12 Months						12 Months or More						Total
		Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
($ in thousands)		Value			Losses			Value			Losses			Value			Losses

Fixed-maturity securities
Government		$	4,313		$	-146		$	–		$	–		$	4,313		$	-146
Government agency			686			-29			–			–			686			-29
State and municipality			17,046			-557			–			–			17,046			-557
Industrial and miscellaneous			12,896			-424			1,424			-36			14,320			-460
Residential mortgage-backed			28,564			-934			9,392			-751			37,956			-1,685
Commercial mortgage-backed			1,945			-67			–			–			1,945			-67
Total fixed-maturity securities			65,450			-2,157			10,816			-787			76,266			-2,944

Equity securities
Non-redeemable preferred stock			–			–			168			-3			168			-3
Total equity securities			–			–			168			-3			168			-3
		$	65,450		$	-2,157		$	10,984		$	-790		$	76,434		$	-2,947

The determination that a security has incurred an other-than-temporary decline in fair value and the associated amount of any loss recognition requires the judgment of Management and a continual review of its investments. Management reviewed all securities with unrealized losses in accordance with the Company’s impairment policy described in Note 1 — “Summary of Significant Accounting Policies” in our consolidated financial statements for the years ended December 31, 2013, 2012 and 2011. Management believes that the temporary impairments are primarily the result of interest rate fluctuations, current conditions in the capital markets, and the impact of those conditions on market liquidity and prices. There are 185 securities in an unrealized loss position at September 30, 2014. Over 91% of these investments are investment-grade at September 30, 2014. The Company does not intend to sell the securities, and it is not more likely than not that the Company will be required to sell these securities before recovery of their amortized cost. Management has the intent and ability to hold the equity securities in an unrealized loss position until the recovery of their fair value. Therefore, Management does not consider these investments to be other-than-temporarily impaired at September 30, 2014.
Proceeds from sales of investments in fixed-maturity, equity and short-term securities through September 30, 2014 and 2013 were $12.6 million and $25.9 million, respectively.
The following table presents the Company’s gross realized gains (losses) for the periods ended September 30:


		Three Months Ended						Nine Months Ended
		September 30,			September 30,			September 30,			September 30,
($ in thousands)		2014			2013			2014			2013
Realized gains:
Fixed-maturity securities		$	298		$	197		$	1,188		$	1,319
Equity securities			4			156			33			160
Gross realized gains			302			353			1,221			1,479
Realized losses:
Fixed-maturity securities			-11			-23			-33			-59
Equity securities			–			–			-2			–
Other-than-temporary impairment losses on fixed-maturity securities			–			-13			–			-83
Other-than-temporary impairment losses on equity securities			–			-7			–			-7
Gross realized losses			-11			-43			-35			-149
Net realized investment gains		$	291		$	310		$	1,186		$	1,330

For the period ending September 30, 2014, the Company had two non-cash exchanges of an investment security. Non-cash consideration received for these exchanges is $1.6 million. Gains of $289 thousand are recognized on these exchanges and are reflected in the “Realized net investment gains” balance shown on the condensed consolidated statements of income.
The following schedule details the maturities of the Company’s fixed-maturity securities, available-for-sale, as of September 30, 2014:


					Fair
($ in thousands)		Amortized Cost			Value

Due in one year or less		$	12,515		$	12,705
Due after one year through five years			55,027			56,279
Due after five years through ten years			72,214			73,118
Due after ten years			9,986			10,524
Residential mortgage-backed securities			82,102			82,401
Commercial mortgage-backed securities			16,616			16,751
		$	248,460		$	251,778

Expected maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties.
The Company’s investment portfolio includes $1.2 million of mortgage-backed securities collateralized by subprime residential loans, which represent approximately 0.47% of the Company’s total investments as of September 30, 2014. The Company does not hold any mortgage derivatives.
Net investment income for the periods ended September 30, consists of the following:


		Three Months Ended						Nine Months Ended
		September 30,			September 30,			September 30,			September 30,
($ in thousands)		2014			2013			2014			2013

Interest on investments		$	1,287		$	1,314		$	3,687		$	3,859
Dividends			32			35			93			108
Gross investment income			1,319			1,349			3,780			3,967
Investment expenses			-136			-102			-379			-301
Net investment income		$	1,183		$	1,247		$	3,401		$	3,666

The Company’s insurance subsidiaries, State National Insurance Company, Inc. (SNIC), National Specialty Insurance Company (NSIC) and United Specialty Insurance Company (USIC) are required to maintain deposits in various states where they are licensed to operate. These deposits are comprised of certificates of deposit and bonds at fair values totaling $36.9 million and $28.8 million at September 30, 2014 and December 31, 2013, respectively.

Goodwill_and_Intangible_Assets

Goodwill and Intangible Assets	9 Months Ended
Goodwill and Intangible Assets	Sep. 30, 2014
Goodwill and Intangible Assets	3. Goodwill and Intangible Assets
	Goodwill and intangible assets totaled $7.0 million at September 30, 2014. Goodwill of $2.6 million is attributable to our Program segment and Lender segment totaling $2.1 million and $450 thousand, respectively. Definite-lived intangible assets total $4.4 million, net of amortization, as of September 30, 2014 and are attributable to our Lender segment.
	Annual impairment testing was performed on goodwill during 2013 and based upon this review no impairments were recognized. In addition, as of September 30, 2014 there were no triggering events that occurred that would suggest an updated review was necessary. Customer relationships/lists and non-compete agreements are amortized based on discounted cash flow estimates over their expected useful lives of 15 years and five to nine years, respectively.

Income_Tax_Provision

Income Tax Provision	9 Months Ended
Income Tax Provision	Sep. 30, 2014
Income Tax Provision	4. Income Tax Provision
	The Company computes its provision for income taxes in interim periods by applying its estimated annual effective tax rate against income before income tax expense for the period. In addition, non-recurring or discrete items are recorded during the period in which they occur. The magnitude of the impact that discrete items have on the Company’s quarterly effective tax rate is dependent on the level of income in the period. In the second quarter of 2014, the Company revised its estimated annual effective tax rate to reflect a change in the federal statutory rate from 34.3% to 35%, effective January 1, 2014. During 2013, the Company computed its income tax provision using a 34.3% federal statutory tax rate as its taxable income was within the graduated rates of 34.0% to 35.0%. Prior to June 25, 2014, such a provision only applied to the Company’s insurance subsidiaries and their parent company, State National Intermediate Holdings, Inc. (SNIH). The Company’s other entities, including the ultimate parent company, previously qualified for Subchapter S Corporation status for federal income tax purposes. On June 25, 2014, the Company completed a private placement of common stock, which resulted in the termination of its Subchapter S corporation status. As a result, the Company is taxed as a C corporation and the Company has recorded a net deferred income tax benefit related to this change in tax status. This benefit is the result of eliminating in consolidation a number of deferred tax liabilities which were related to intercompany transactions and contract modification expense. The “exclusion of Subchapter S income” reflects the effect of the lack of income tax expense recorded for the Subchapter S entities for the year-to-date periods ended June 25, 2014 and September 30, 2013. A reconciliation of federal income tax expense computed by applying the federal statutory tax rate to income (loss) before federal income tax expense (benefit) for the nine month periods ended September 30 is as follows:


		2014				2013
				Effective				Effective
		Amount		Tax Rate		Amount		Tax Rate
	($ in thousands)
	Expected tax expense (benefit)	$	-3,497	35.0	%	$	4,123	34.3	%
	Exclusion of Subchapter S income		8,497	-85			-1,110	-9.2
	Change in tax status		-19,517	195.3			–	–
	Change in federal statutory rate		-76	0.8			–	–
	Tax-exempt income		-110	1.1			-196	-1.6
	State income taxes		395	-4			448	3.7
	Other		150	-1.5			-29	-0.3
	Total income tax expense (benefit)	$	-14,158	141.7	%	$	3,236	26.9	%

Reinsurance

Reinsurance	9 Months Ended
Reinsurance	Sep. 30, 2014
Reinsurance	5. Reinsurance
	Through unaffiliated general agents, SNIC, NSIC, and USIC write primarily auto and commercial lines of business. This business is written pursuant to quota share and excess of loss reinsurance contracts and general agency agreements that are tripartite agreements executed by SNIC, NSIC, or USIC, the reinsurer, and the general agent. Substantially all of the risk associated with this business is borne by the reinsurer. As compensation for writing this business, SNIC, NSIC, and USIC receive ceding fees from the producers and, accordingly, the related ceding fees receivable are reflected as accounts receivable from agents. If the producer defaults on its obligation to pay these fees (or any other amount due), the reinsurer is obligated to make the payment under the guarantee contained in the contracts.
	SNIC, NSIC, and USIC remain liable for unearned premiums and unpaid losses and loss adjustment expenses with respect to reinsurance ceded should the reinsurer be unable to meet its obligations. Management considers the possibility of a reinsurer becoming unable to meet its obligations as remote due to the reinsurers’ financial stability, A.M. Best Company rating, size, security funds available, and other factors as appropriate. Following is a summary of these balances:


		September 30,		December 31,
		2014		2013
	($ in thousands)
	Ceded unearned premiums	$	463,720	$	365,333
	Ceded loss and loss adjustment expense reserves		1,156,877		1,006,892
	Total reinsurance recoverables		1,620,597		1,372,225
	Secured reinsurance recoverables		-1,212,627		-1,014,947
	Unsecured reinsurance recoverables	$	407,970	$	357,278

Fair_Value_Measurements

Fair Value Measurements

9 Months Ended

Sep. 30, 2014

Fair Value Measurements

6. Fair Value Measurements

Assets and liabilities reported in the condensed consolidated financial statements at fair value are required to be classified according to a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into three levels. The hierarchy gives the highest ranking to fair values determined using unadjusted quoted prices in active markets for identical assets and liabilities.

(Level 1) and the lowest ranking to fair values determined using methodologies and models with unobservable inputs (Level 3). An asset’s or liability’s classification is based on the lowest level input that is significant to its measurement. For example, a Level 3 fair value measurement may include inputs that are both observable (Level 1 and 2) and unobservable (Level 3). The levels of the fair value hierarchy are as follows:

Level 1: Inputs are quoted prices for identical assets or liabilities in active markets that are accessible at the measurement date.

Level 2: Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices from those willing to trade in markets that are not active, or other inputs that are observable or can be corroborated by market data for the term of the instrument. These inputs include market interest rates and volatilities, spreads, and yield curves.

Level 3: Inputs are unobservable. Unobservable inputs reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances.

A description of the Company’s valuation techniques used to measure its assets at fair value is as follows:

Available-for-sale, fixed-maturity securities: All fixed-maturity investments are currently reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from either an independent pricing service using quoted prices or from its third-party investment managers. These Level 2 inputs are valued by either the pricing service or the investment managers utilizing observable data that may include dealer quotes, market spreads, cash flows, yield curves, live trading levels, trade execution data, market consensus, prepayment speeds, credit information, and the security’s terms and conditions, among other things. Management has reviewed the processes used by the pricing services and has determined that they result in fair values consistent with requirements of ASC 820 for Level 2 investment securities.

Available-for-sale equity securities: Equity securities are reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service using quoted prices or from its third-party investment managers.

Based on an analysis of the inputs, the Company’s investments measured at fair value on a recurring basis have been categorized as follows:

September 30, 2014

($ in thousands)

Level 1

Level 2

Level 3

Total

Fixed-maturity securities

Government

–

14,517

–

14,517

Government agency

–

2,383

–

2,383

State and municipality

–

48,857

–

48,857

Industrial and miscellaneous

–

86,452

–

86,452

Residential mortgage-backed

–

82,401

–

82,401

Commercial mortgage-backed

–

16,751

–

16,751

Redeemable preferred stock

–

417

–

417

Total fixed-maturity securities

–

251,778

–

251,778

Equity securities

Non-redeemable preferred stock

–

1,995

–

1,995

Common stock

–

592

–

592

Total equity securities

–

2,587

–

2,587

–

254,365

–

254,365

December 31, 2013

($ in thousands)

Level 1

Level 2

Level 3

Total

Fixed-maturity securities

Government

–

9,855

–

9,855

Government agency

–

2,840

–

2,840

State and municipality

–

41,185

–

41,185

Industrial and miscellaneous

–

52,658

–

52,658

Residential mortgage-backed

–

65,334

–

65,334

Commercial mortgage-backed

–

8,671

–

8,671

Redeemable preferred stock

–

411

–

411

Total fixed-maturity securities

–

180,954

–

180,954

Equity securities

Non-redeemable preferred stock

–

1,802

–

1,802

Common stock

–

499

–

499

Total equity securities

–

2,301

–

2,301

–

183,255

–

183,255

There was no Level 3 activity including gains or losses recognized purchases, or sales transaction during the periods ending September 30, 2014 and December 31, 2013.

Transfers between levels are recognized at the end of the reporting period. There were no transfers between Level 1, Level 2, and Level 3 at September 30, 2014 and December 31, 2013.

401k_ProfitSharing_Plan_and_Tr

401(k) Profit-Sharing Plan and Trust	9 Months Ended
401(k) Profit-Sharing Plan and Trust	Sep. 30, 2014
401(k) Profit-Sharing Plan and Trust	7. 401(k) Profit-Sharing Plan and Trust
	The Company has a 401(k) profit-sharing plan for employees that covers substantially all officers and employees who are at least 18 years of age. The Company is required to make a matching contribution of 50% of employees’ contributions, limited to 6% of eligible employees’ compensation. Also, the Company may make additional matching and profit-sharing contributions that are discretionary and are determined at the end of each plan year. The employer contribution expense included in general and administrative expenses for the three months ended September 30, 2014 was $212 thousand (2013 - $201 thousand) and for the nine months ended September 30, 2014 was $836 thousand (2013- $774 thousand), respectively.

Stockbased_Payments

Stock-based Payments	9 Months Ended
Stock-based Payments	Sep. 30, 2014
Stock-based Payments	8. Stock-based Payments
	On May 29, 2014, the Company’s shareholders approved the 2014 Long-Term Incentive Plan (2014 Plan), which provides for an aggregate of 4.4 million shares of our common stock that may be issued to employees and non-employee directors. Awards under the 2014 Plan may be in the form of stock options (including incentive stock options that meet the requirements of Section 422 of the Internal Revenue Code and non-statutory stock options), restricted stock, restricted stock units, stock appreciation rights and performance units. Upon completion of the private placement, the Company made grants of non-qualified stock options to our executive officers and certain employees to purchase an aggregate of 2,783,873 shares of our common stock. In addition to the grants of non-qualified stock options, the Company made grants of 12,000 shares of restricted stock to our non-employee directors. These non-qualified stock options and restricted stock grants are classified as equity based awards and will be recognized on a straight-line basis over the vesting period of 3 years and 1 year, respectively.
	The fair value of each stock option grant is established on the grant date using the Black-Scholes option pricing model with the following weighted-average assumptions. The expected volatility is 32.96%, based on historical volatility of similar entities that are publicly traded for a period equal to the expected term. The estimated term of the options, all of which expire ten years after the grant date, is 5.5 years based on expected behavior of the group of option holders. The assumed risk-free interest rate is 1.85%, based on rates for U.S. Treasury Notes with maturity dates corresponding to the estimated term of the options on the date of grant. The assumed dividend yield was 0.40% and no forfeitures are expected.
	On July 9, 2014 the company granted 38,500 shares of common stock to employees under the 2014 Plan. The fair value of the shares was determined based on the most recent trading price of the stock.

Concentration_of_Risk

Concentration of Risk	9 Months Ended
Concentration of Risk	Sep. 30, 2014
Concentration of Risk	9. Concentration of Risk
	The Company maintains cash and cash equivalents in accounts with financial institutions in excess of the amount insured by the Federal Deposit Insurance Corporation. The Company monitors the financial stability of these institutions regularly, and Management does not believe there is significant credit risk associated with deposits in excess of federally insured amounts.
	A significant portion of the Company’s writings occurs in California, New York, Texas, Florida and Arizona. Two customers comprised approximately 5% of the Company’s CPI writings at September 30, 2014. Three reinsurers represent approximately 51% of the Company’s unsecured ceded balances at September 30, 2014.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2014
Commitments and Contingencies	10. Commitments and Contingencies
	The Company is involved in various legal proceedings incidental to its normal business activities. Management of the Company does not anticipate that the outcome of such legal actions will have a material effect on the Company’s condensed consolidated financial position or results of operations.
	SNIC, NSIC, and USIC are subject to assessments from various insurance regulatory agencies related to insurance company insolvencies. Management is not aware of any material assessments for which notice has not yet been received. However, to the extent that such assessments are made, the Company has the contractual right to recover these amounts from the underlying reinsurers.
	In July 2009, the Company formed a Collateral Protection Alliance (the Alliance) with CUMIS Insurance Society, Inc., a subsidiary of CUNA, to administer and write CPI business for their customers. The Alliance includes an agency agreement and a reinsurance agreement whereby the Company cedes 50% of the business back to CUNA. The Company did not account for the Alliance as a business combination because it did not result in a change of control. In connection with the Alliance, the Company has a purchase option and CUNA has a put option, whereby the Company is obligated to purchase CUNA’s right to participate in future program business in the event of termination of the Alliance at a specified price.
	On May 19, 2014, the company signed an amendment to alter certain provisions of the July 24, 2009 Alliance with CUNA related to the Company’s collateral protection business. The amendment, effective July 1, 2014, reduces CUNA’s quota share under the reinsurance agreement from 50% to 30% for all policies written on or after July 1, 2014. In addition, the term of the Alliance was extended through July 31, 2018, with an automatic three-year renewal (subject to the right of either party to give notice of nonrenewal); the termination rights for each party were modified, and the purchase price calculation was modified.
	In consideration of these changes, State National accrued the expense of $17.8 million as of June 30, 2014 and made two payments to CUNA on July 8, 2014. The first payment of $14.8 million is not subject to any future adjustments. The second payment of $3.0 million is subject to potential future adjustment based upon the net premium and loss ratio for the 12-month period ending June 30, 2015, with any payment adjustment due on August 7, 2015.

Earnings_Per_Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2014
Earnings Per Share	11. Earnings Per Share
	We have adopted the provisions of ASC 260, “Earnings Per Share,” requiring presentation of both basic and diluted earnings per share. Earnings per share have been adjusted to reflect a 736 for one stock split in the form of a stock dividend on June 23, 2014. A reconciliation of the numerators and denominators of the basic and diluted per share calculations is presented below:


		Three Months Ended				Nine Months Ended
		September 30,		September 30,		September 30,		September 30,
	($ in thousands, except for per share amounts)	2014		2013		2014		2013

	Numerator for both basic and diluted earnings per share:
	Net income (loss)	$	6,959	$	6,997	$	4,166	$	8,785

	Denominator for both basic and diluted earnings per share:
	Weighted-average common shares outstanding		44,231,336		34,176,896		37,748,716		34,176,896

	Dilutive effect of outstanding securities (determined using the treasury stock method)		206,223		–		73,274		–

	Weighted-average common shares outstanding and potential common shares outstanding		44,437,559		34,176,896		37,821,990		34,176,896

Segment_Information

Segment Information	9 Months Ended
Segment Information	Sep. 30, 2014
Segment Information	12. Segment Information
	The following is business segment information for the periods ended September 30, 2014 and 2013:


		Three Months Ended				Nine Months Ended
		September 30,		September 30,		September 30,		September 30,
	($ in thousands)	2014		2013		2014		2013
	Revenues:
	Program	$	12,168	$	8,810	$	33,010	$	21,955
	Lender		26,321		21,775		71,705		63,260
	Corporate		2,082		1,917		6,786		6,010
	Consolidated Revenues	$	40,571	$	32,502	$	111,501	$	91,225

	Income (loss) before income taxes:
	Program	$	9,100	$	4,547	$	24,893	$	13,257
	Lender		4,385		3,833		-8,237		9,376
	Corporate		-2,135		-202		-26,648		-10,612
	Consolidated Income (loss) before income taxes	$	11,350	$	8,178	$	-9,992	$	12,021

	The following tables summarize the financial assets of the Company’s segments as of September 30, 2014 and December 31, 2013:


		September 30,		December 31,
	($ in thousands)	2014		2013
	Assets:
	Program	$	1,644,319	$	1,389,595
	Lender		17,047		19,659
	Corporate		383,166		281,697
		$	2,044,532	$	1,690,951

Common_Stock

Common Stock	9 Months Ended
Common Stock	Sep. 30, 2014
Common Stock	13. Common Stock
	On June 25, 2014, the Company completed the sale of an aggregate of 31,050,000 shares of our common stock in a private placement exempt from registration under the Securities Act and received net proceeds of approximately $280.6 million. Of the net proceeds from the private placement, the Company used approximately (i) $190.6 million to purchase 21,030,294 shares of common stock from certain of our shareholders pursuant to a stock redemption agreement entered into prior to the private placement, (ii) $17.8 million to make pre-tax payments to CUNA pursuant to a recent amendment of the alliance agreement (See Note 10 — “Commitments and Contingencies”) and (iii) $50 million to contribute to the capital of our insurance subsidiaries.

Subsequent_Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2014
Subsequent Events	14. Subsequent Events
	On July 15, 2014, the Company filed a registration statement with the United States Securities and Exchange Commission. On September 12, 2014, October 3, 2014 and October 22, 2014, the Company filed amendments to the registration statement for the resale of up to an aggregate of 30,728,500 shares of the Company’s common stock. On October 30, 2014, the Company’s registration statement with the United States Securities and Exchange Commission became effective.
	Subordinated debentures with a carrying value of $7.5 million were purchased for $6.75 million (plus accrued interest of approximately $49 thousand) on October 8, 2014. The debentures were issued on May 15, 2003 with an original maturity of May 15, 2033 and currently accrued interest at LIBOR plus 4.10%. This transaction resulted in a gain of approximately $610 thousand after deducting the unamortized portion of the initial issuance costs from the difference in the par value and the purchase price.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policy )	9 Months Ended
Summary of Significant Accounting Policies (Policy )	Sep. 30, 2014
Description of Business	Description of Business
	State National Companies, Inc. (the Company) refers to a group of companies that conduct insurance-related activities along two major segments. One segment (the Company’s program services segment) involves the writing of “program business,” which includes books of business produced by general agents, for which the Company receives ceding fees. Substantially all of the risk associated with the program business is ceded to unaffiliated, highly rated reinsurance companies or other reinsurers that provide substantial collateral. A second segment (the Company’s lender services segment) involves the writing and insuring of lines of insurance marketed to lending institutions, primarily collateral protection insurance (CPI) policies.

Basis of Presentation	Basis of Presentation
	Our unaudited condensed consolidated financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and include our accounts and the accounts of our subsidiaries. All significant intercompany accounts and those transactions have been eliminated in consolidation. Certain footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to rules and regulations of the Securities and Exchange Commission (SEC) for interim financial reporting. These unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements for the years ended December 31, 2013 and 2012.
	The interim financial data as of September 30, 2014 and 2013 is unaudited. However, in the opinion of the Company’s management (Management), the interim data includes all adjustments, consisting of normal recurring adjustments, necessary for fair statements of the results for the interim period. The results of operations for the period ended September 30, 2014 and 2013 are not necessarily indicative of the operating results to be expected for the full year.
	Refer to “Summary of Significant Accounting Policies” in our consolidated financial statements for the years ended December 31, 2013, 2012 and 2011 for information on accounting policies that we consider critical in preparing our consolidated financial statements.

Estimates	Estimates
	The preparation of financial statements in conformity with GAAP requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from these estimates.

Property, Equipment, and Depreciation	Property, Equipment, and Depreciation
	Property and equipment are recorded at cost and depreciated. Depreciation is computed using the straight-line method over the estimated useful lives of the assets (ranging from two to twenty years). The Company changed its capitalization threshold as of January 1, 2014 from $1 thousand to $5 thousand per item. Gains and losses on the disposition of fixed assets are determined on a specific asset identification basis and are included in net income. Land held for sale is carried at fair value less expected selling costs.

Earnings Per Share	Earnings Per Share
	The computation of earnings per share is based upon the weighted average number of common shares outstanding during the period plus the effect of common shares potentially issuable (in periods in which they have a dilutive effect). Earnings per share have been adjusted to reflect a 736 for 1 stock split in the form of a stock dividend on June 23, 2014.

Income Taxes	Income Taxes
	Historically, the Company had elected for its parent company to be taxed for federal income tax purposes as a “Subchapter S corporation” under the Internal Revenue Code. On June 25, 2014, the Company completed a private placement of common stock, which resulted in the termination of its Subchapter S corporation status. Prior to this change in tax status, deferred income taxes were recorded only on the Company’s insurance subsidiaries (and their immediate parent) to reflect the tax consequences on future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each year-end. All other entities included in the consolidated group filed under Subchapter S Corporation status; therefore, no provision for income taxes had been recorded for these entities. The Company recorded a net deferred income tax benefit related to this change in tax status to reflect the tax consequences on future years of differences between the tax bases of assets and liabilities and their financial reporting amounts.
	For any uncertain tax positions not meeting the “more likely than not” recognition threshold, accounting standards require recognition, measurement, and disclosure in the financial statements. There were no uncertain tax positions at September 30, 2014 and December 31, 2013.

Pro Forma Financial Information	Pro Forma Financial Information
	On June 25, 2014, the Company completed a private placement of common stock, which resulted in the termination of its Subchapter S corporation status. All of the Company’s entities are now considered C corporations. Pro forma amounts for income tax expense (benefit) and basic and diluted earnings per share have been presented assuming the Company’s effective tax rate of 38.8% for the three and nine months ended September 30, 2014 and 38.1% for the three and nine months ended September 30, 2013, as if all entities had been C Corporations during those periods.

Stock-based Compensation	Stock-based Compensation
	Compensation expense for stock-based payments is recognized based on the measurement-date fair value for awards that will settle in shares. Compensation expense for awards that are settled in equity are recognized on a straight line pro rata basis over the vesting period. See Note 8 — “Stock-based Payments” for related disclosures.

Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In June 2014, the FASB issued an accounting standards update (ASU 2014-12), “Compensation – Stock Compensation” (Topic 718). The main provision of this ASU requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. This ASU is effective for annual reporting periods beginning after December 15, 2015 and interim periods within those annual periods. This ASU does not impact the Company’s financial statements as the Company has not awarded any performance based stock compensation.
	In May 2014, the FASB issued an accounting standards update (ASU 2014-09), “Revenue from Contracts with Customers” (Topic 606). The core guidance of the ASU presents a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The ASU provides a five-step analysis of transactions to determine when and how revenue is recognized and requires additional disclosures sufficient to describe the nature, amount, timing and uncertainty of revenue and cash flows for these transactions. This ASU is effective for annual periods beginning after December 15, 2016, including interim periods within that period. As insurance contracts are excluded from this ASU, the Company is currently evaluating what impact, if any, this ASU will have on our financial results and disclosures and which adoption method to apply.
	In February 2013, the FASB issued an accounting standards update (ASU 2013-02), “Comprehensive Income” (Topic 220) that requires additional disclosures for amounts reclassified out of accumulated other comprehensive income by component. Additionally, significant amounts reclassified out of accumulated other comprehensive income must be disclosed by the respective line items of net income either on the face of the statement where income is presented or in the notes to the financial statements only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. Amounts that are not required to be reclassified in their entirety to net income should be cross-referenced to other disclosures required under U.S. GAAP that provide additional detail about the amounts. The impact of this disclosure on the Company’s financial statements is minimal.

Investments_Tables

Investments (Tables)	9 Months Ended
Investments (Tables)	Sep. 30, 2014
Summary of amortized cost, gross unrealized gains and losses, and the fair value of investment securities by class




		Cost or		Gross		Gross
	September 30, 2014	Amortized		Unrealized		Unrealized		Fair
	($ in thousands)	Cost		Gains		Losses		Value

	Fixed-maturity securities
	Government	$	14,446	$	158	$	-87	$	14,517
	Government agency		2,338		58		-13		2,383
	State and municipality		47,924		1,052		-119		48,857
	Industrial and miscellaneous		84,633		2,313		-494		86,452
	Residential mortgage-backed		82,102		1,431		-1,132		82,401
	Commercial mortgage-backed		16,616		233		-98		16,751
	Redeemable preferred stock		401		29		-13		417
	Total fixed-maturity securities		248,460		5,274		-1,956		251,778

	Equity securities
	Non-redeemable preferred stock		1,279		716		–		1,995
	Common stock		216		393		-17		592
	Total equity securities		1,495		1,109		-17		2,587
	Total investments	$	249,955	$	6,383	$	-1,973	$	254,365



		Cost or		Gross		Gross
	December 31, 2013	Amortized		Unrealized		Unrealized		Fair
	($ in thousands)	Cost		Gains		Losses		Value

	Fixed-maturity securities
	Government	$	9,785	$	216	$	-146	$	9,855
	Government agency		2,803		66		-29		2,840
	State and municipality		40,823		919		-557		41,185
	Industrial and miscellaneous		51,005		2,113		-460		52,658
	Residential mortgage-backed		65,622		1,397		-1,685		65,334
	Commercial mortgage-backed		8,462		276		-67		8,671
	Redeemable preferred stock		401		10		–		411
	Total fixed-maturity securities		178,901		4,997		-2,944		180,954

	Equity securities
	Non-redeemable preferred stock		1,191		614		-3		1,802
	Common stock		149		350		–		499
	Total equity securities		1,340		964		-3		2,301
	Total investments	$	180,241	$	5,961	$	-2,947	$	183,255


Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position


	September 30, 2014	Less than 12 Months				12 Months or More				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	($ in thousands)	Value		Losses		Value		Losses		Value		Losses

	Fixed-maturity securities
	Government	$	883	$	-4	$	3,101	$	-83	$	3,984	$	-87
	Government agency		–		–		685		-13		685		-13
	State and municipality		14,301		-83		2,882		-36		17,183		-119
	Industrial and miscellaneous		35,609		-403		3,231		-91		38,840		-494
	Residential mortgage-backed		21,187		-108		22,189		-1,024		43,376		-1,132
	Commercial mortgage-backed		8,399		-67		677		-31		9,076		-98
	Redeemable preferred stock		82		-1		223		-12		305		-13
	Total fixed-maturity securities		80,461		-666		32,988		-1,290		113,449		-1,956

	Equity securities
	Common Stock		187		-17		–		–		187		-17
	Total equity securities		187		-17		–		–		187		-17
		$	80,648	$	-683	$	32,988	$	-1,290	$	113,636	$	-1,973



	December 31, 2013	Less than 12 Months				12 Months or More				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	($ in thousands)	Value		Losses		Value		Losses		Value		Losses

	Fixed-maturity securities
	Government	$	4,313	$	-146	$	–	$	–	$	4,313	$	-146
	Government agency		686		-29		–		–		686		-29
	State and municipality		17,046		-557		–		–		17,046		-557
	Industrial and miscellaneous		12,896		-424		1,424		-36		14,320		-460
	Residential mortgage-backed		28,564		-934		9,392		-751		37,956		-1,685
	Commercial mortgage-backed		1,945		-67		–		–		1,945		-67
	Total fixed-maturity securities		65,450		-2,157		10,816		-787		76,266		-2,944

	Equity securities
	Non-redeemable preferred stock		–		–		168		-3		168		-3
	Total equity securities		–		–		168		-3		168		-3
		$	65,450	$	-2,157	$	10,984	$	-790	$	76,434	$	-2,947


Schedule of gross realized gains (losses)


		Three Months Ended				Nine Months Ended
		September 30,		September 30,		September 30,		September 30,
	($ in thousands)	2014		2013		2014		2013
	Realized gains:
	Fixed-maturity securities	$	298	$	197	$	1,188	$	1,319
	Equity securities		4		156		33		160
	Gross realized gains		302		353		1,221		1,479
	Realized losses:
	Fixed-maturity securities		-11		-23		-33		-59
	Equity securities		–		–		-2		–
	Other-than-temporary impairment losses on fixed-maturity securities		–		-13		–		-83
	Other-than-temporary impairment losses on equity securities		–		-7		–		-7
	Gross realized losses		-11		-43		-35		-149
	Net realized investment gains	$	291	$	310	$	1,186	$	1,330


Schedule detailing the maturities of the Company's fixed-maturity securities, available-for-sale


				Fair
	($ in thousands)	Amortized Cost		Value

	Due in one year or less	$	12,515	$	12,705
	Due after one year through five years		55,027		56,279
	Due after five years through ten years		72,214		73,118
	Due after ten years		9,986		10,524
	Residential mortgage-backed securities		82,102		82,401
	Commercial mortgage-backed securities		16,616		16,751
		$	248,460	$	251,778


Schedule of net investment income


		Three Months Ended				Nine Months Ended
		September 30,		September 30,		September 30,		September 30,
	($ in thousands)	2014		2013		2014		2013

	Interest on investments	$	1,287	$	1,314	$	3,687	$	3,859
	Dividends		32		35		93		108
	Gross investment income		1,319		1,349		3,780		3,967
	Investment expenses		-136		-102		-379		-301
	Net investment income	$	1,183	$	1,247	$	3,401	$	3,666

Income_Tax_Provision_Tables

Income Tax Provision (Tables)	9 Months Ended
Income Tax Provision (Tables)	Sep. 30, 2014
Schedule of reconciliation of federal income tax expense computed by applying the federal statutory tax rate to income (loss) before federal income tax expense (benefit)


		2014				2013
				Effective				Effective
		Amount		Tax Rate		Amount		Tax Rate
	($ in thousands)
	Expected tax expense (benefit)	$	-3,497	35.0	%	$	4,123	34.3	%
	Exclusion of Subchapter S income		8,497	-85			-1,110	-9.2
	Change in tax status		-19,517	195.3			–	–
	Change in federal statutory rate		-76	0.8			–	–
	Tax-exempt income		-110	1.1			-196	-1.6
	State income taxes		395	-4			448	3.7
	Other		150	-1.5			-29	-0.3
	Total income tax expense (benefit)	$	-14,158	141.7	%	$	3,236	26.9	%

Reinsurance_Tables

Reinsurance (Tables)	9 Months Ended
Reinsurance (Tables)	Sep. 30, 2014
Summary of balances


		September 30,		December 31,
		2014		2013
	($ in thousands)
	Ceded unearned premiums	$	463,720	$	365,333
	Ceded loss and loss adjustment expense reserves		1,156,877		1,006,892
	Total reinsurance recoverables		1,620,597		1,372,225
	Secured reinsurance recoverables		-1,212,627		-1,014,947
	Unsecured reinsurance recoverables	$	407,970	$	357,278

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2014
Schedule of investments measured at fair value on recurring basis


	September 30, 2014
	($ in thousands)	Level 1		Level 2		Level 3		Total

	Fixed-maturity securities
	Government	$	–	$	14,517	$	–	$	14,517
	Government agency		–		2,383		–		2,383
	State and municipality		–		48,857		–		48,857
	Industrial and miscellaneous		–		86,452		–		86,452
	Residential mortgage-backed		–		82,401		–		82,401
	Commercial mortgage-backed		–		16,751		–		16,751
	Redeemable preferred stock		–		417		–		417
	Total fixed-maturity securities		–		251,778		–		251,778

	Equity securities
	Non-redeemable preferred stock		–		1,995		–		1,995
	Common stock		–		592		–		592
	Total equity securities		–		2,587		–		2,587
		$	–	$	254,365	$	–	$	254,365



	December 31, 2013
	($ in thousands)	Level 1		Level 2		Level 3		Total

	Fixed-maturity securities
	Government	$	–	$	9,855	$	–	$	9,855
	Government agency		–		2,840		–		2,840
	State and municipality		–		41,185		–		41,185
	Industrial and miscellaneous		–		52,658		–		52,658
	Residential mortgage-backed		–		65,334		–		65,334
	Commercial mortgage-backed		–		8,671		–		8,671
	Redeemable preferred stock		–		411		–		411
	Total fixed-maturity securities		–		180,954		–		180,954

	Equity securities
	Non-redeemable preferred stock		–		1,802		–		1,802
	Common stock		–		499		–		499
	Total equity securities		–		2,301		–		2,301
		$	–	$	183,255	$	–	$	183,255

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2014
Schedule of reconciliation of the numerators and denominators of the basic and diluted per share calculations


		Three Months Ended				Nine Months Ended
		September 30,		September 30,		September 30,		September 30,
	($ in thousands, except for per share amounts)	2014		2013		2014		2013

	Numerator for both basic and diluted earnings per share:
	Net income (loss)	$	6,959	$	6,997	$	4,166	$	8,785

	Denominator for both basic and diluted earnings per share:
	Weighted-average common shares outstanding		44,231,336		34,176,896		37,748,716		34,176,896

	Dilutive effect of outstanding securities (determined using the treasury stock method)		206,223		–		73,274		–

	Weighted-average common shares outstanding and potential common shares outstanding		44,437,559		34,176,896		37,821,990		34,176,896

Segment_Information_Tables

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Sep. 30, 2014
Schedule of business segment information


		Three Months Ended				Nine Months Ended
		September 30,		September 30,		September 30,		September 30,
	($ in thousands)	2014		2013		2014		2013
	Revenues:
	Program	$	12,168	$	8,810	$	33,010	$	21,955
	Lender		26,321		21,775		71,705		63,260
	Corporate		2,082		1,917		6,786		6,010
	Consolidated Revenues	$	40,571	$	32,502	$	111,501	$	91,225

	Income (loss) before income taxes:
	Program	$	9,100	$	4,547	$	24,893	$	13,257
	Lender		4,385		3,833		-8,237		9,376
	Corporate		-2,135		-202		-26,648		-10,612
	Consolidated Income (loss) before income taxes	$	11,350	$	8,178	$	-9,992	$	12,021


Schedule of the financial assets of the Entity's segments


		September 30,		December 31,
	($ in thousands)	2014		2013
	Assets:
	Program	$	1,644,319	$	1,389,595
	Lender		17,047		19,659
	Corporate		383,166		281,697
		$	2,044,532	$	1,690,951

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Jan. 01, 2014	Dec. 31, 2013
	item	Jan. 01, 2014	Dec. 31, 2013
Summary of Significant Accounting Policies
Number of major segments	2
Property and equipment
Capitalized threshold amount		$1
Revised capitalized threshold amount		5
Earnings Per Share
Stock split ratio	0.0014
Income Taxes
Uncertain tax positions	$0		$0
Minimum
Property and equipment
Estimated useful lives	2 years
Maximum
Property and equipment
Estimated useful lives	20 years

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details 2)	3 Months Ended		9 Months Ended
Summary of Significant Accounting Policies (Details 2)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Pro Forma Financial Information
Effective tax rate (as a percent)			141.70%	26.90%
Pro Forma
Pro Forma Financial Information
Effective tax rate (as a percent)	38.80%	38.10%	38.80%	38.10%

Investments_Details

Investments (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Investments
Cost or Amortized Cost	$249,955	$180,241
Gross Unrealized Gains	6,383	5,961
Gross Unrealized Losses	-1,973	-2,947
Total investments	254,365	183,255
Fixed-maturity securities
Investments
Cost or Amortized Cost	248,460	178,901
Gross Unrealized Gains	5,274	4,997
Gross Unrealized Losses	-1,956	-2,944
Total investments	251,778	180,954
Government
Investments
Cost or Amortized Cost	14,446	9,785
Gross Unrealized Gains	158	216
Gross Unrealized Losses	-87	-146
Total investments	14,517	9,855
Government agency
Investments
Cost or Amortized Cost	2,338	2,803
Gross Unrealized Gains	58	66
Gross Unrealized Losses	-13	-29
Total investments	2,383	2,840
State and municipality
Investments
Cost or Amortized Cost	47,924	40,823
Gross Unrealized Gains	1,052	919
Gross Unrealized Losses	-119	-557
Total investments	48,857	41,185
Industrial and miscellaneous
Investments
Cost or Amortized Cost	84,633	51,005
Gross Unrealized Gains	2,313	2,113
Gross Unrealized Losses	-494	-460
Total investments	86,452	52,658
Residential mortgage-backed
Investments
Cost or Amortized Cost	82,102	65,622
Gross Unrealized Gains	1,431	1,397
Gross Unrealized Losses	-1,132	-1,685
Total investments	82,401	65,334
Commercial mortgage-backed
Investments
Cost or Amortized Cost	16,616	8,462
Gross Unrealized Gains	233	276
Gross Unrealized Losses	-98	-67
Total investments	16,751	8,671
Redeemable preferred stock
Investments
Cost or Amortized Cost	401	401
Gross Unrealized Gains	29	10
Gross Unrealized Losses	-13
Total investments	417	411
Equity securities
Investments
Cost or Amortized Cost	1,495	1,340
Gross Unrealized Gains	1,109	964
Gross Unrealized Losses	-17	-3
Total investments	2,587	2,301
Non-redeemable preferred stock
Investments
Cost or Amortized Cost	1,279	1,191
Gross Unrealized Gains	716	614
Gross Unrealized Losses		-3
Total investments	1,995	1,802
Common stock
Investments
Cost or Amortized Cost	216	149
Gross Unrealized Gains	393	350
Gross Unrealized Losses	-17
Total investments	$592	$499

Investments_Details_2

Investments (Details 2) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
	item	Sep. 30, 2013	Dec. 31, 2013
Fair Value
Less Than 12 Months	$80,648,000		$65,450,000
12 Months or More	32,988,000		10,984,000
Total	113,636,000		76,434,000
Unrealized Losses
Less Than 12 Months	-683,000		-2,157,000
12 Months or More	-1,290,000		-790,000
Total	-1,973,000		-2,947,000
Number of securities in unrealized loss position	185
Proceeds from sales of investments in fixed-maturity, equity and short-term securities	12,600,000	25,900,000
Fixed-maturity securities
Fair Value
Less Than 12 Months	80,461,000		65,450,000
12 Months or More	32,988,000		10,816,000
Total	113,449,000		76,266,000
Unrealized Losses
Less Than 12 Months	-666,000		-2,157,000
12 Months or More	-1,290,000		-787,000
Total	-1,956,000		-2,944,000
Government
Fair Value
Less Than 12 Months	883,000		4,313,000
12 Months or More	3,101,000
Total	3,984,000		4,313,000
Unrealized Losses
Less Than 12 Months	-4,000		-146,000
12 Months or More	-83,000
Total	-87,000		-146,000
Government agency
Fair Value
Less Than 12 Months			686,000
12 Months or More	685,000
Total	685,000		686,000
Unrealized Losses
Less Than 12 Months			-29,000
12 Months or More	-13,000
Total	-13,000		-29,000
State and municipality
Fair Value
Less Than 12 Months	14,301,000		17,046,000
12 Months or More	2,882,000
Total	17,183,000		17,046,000
Unrealized Losses
Less Than 12 Months	-83,000		-557,000
12 Months or More	-36,000
Total	-119,000		-557,000
Industrial and miscellaneous
Fair Value
Less Than 12 Months	35,609,000		12,896,000
12 Months or More	3,231,000		1,424,000
Total	38,840,000		14,320,000
Unrealized Losses
Less Than 12 Months	-403,000		-424,000
12 Months or More	-91,000		-36,000
Total	-494,000		-460,000
Residential mortgage-backed
Fair Value
Less Than 12 Months	21,187,000		28,564,000
12 Months or More	22,189,000		9,392,000
Total	43,376,000		37,956,000
Unrealized Losses
Less Than 12 Months	-108,000		-934,000
12 Months or More	-1,024,000		-751,000
Total	-1,132,000		-1,685,000
Commercial mortgage-backed
Fair Value
Less Than 12 Months	8,399,000		1,945,000
12 Months or More	677,000
Total	9,076,000		1,945,000
Unrealized Losses
Less Than 12 Months	-67,000		-67,000
12 Months or More	-31,000
Total	-98,000		-67,000
Redeemable preferred stock
Fair Value
Less Than 12 Months	82,000
12 Months or More	223,000
Total	305,000
Unrealized Losses
Less Than 12 Months	-1,000
12 Months or More	-12,000
Total	-13,000
Equity securities
Fair Value
Less Than 12 Months	187,000
12 Months or More			168,000
Total	187,000		168,000
Unrealized Losses
Less Than 12 Months	-17,000
12 Months or More			-3,000
Total	-17,000		-3,000
Non-redeemable preferred stock
Fair Value
12 Months or More			168,000
Total			168,000
Unrealized Losses
12 Months or More			-3,000
Total			-3,000
Common stock
Fair Value
Less Than 12 Months	187,000
Total	187,000
Unrealized Losses
Less Than 12 Months	-17,000
Total	($17,000)
Investment-grade
Unrealized Losses
Percentage of investments in unrealized loss position	91.00%

Investments_Details_3

Investments (Details 3) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
	Sep. 30, 2014	Sep. 30, 2013	item	Sep. 30, 2013
Realized gains:
Fixed-maturity securities	$298,000	$197,000	$1,188,000	$1,319,000
Equity securities	4,000	156,000	33,000	160,000
Gross realized gains	302,000	353,000	1,221,000	1,479,000
Realized losses:
Fixed-maturity securities	-11,000	-23,000	-33,000	-59,000
Equity securities			-2,000
Other-than-temporary impairment losses on fixed-maturity securities		-13,000		-83,000
Other-than-temporary impairment losses on equity securities		-7,000		-7,000
Gross realized losses	-11,000	-43,000	-35,000	-149,000
Net realized investment gains	291,000	310,000	1,186,000	1,330,000
Number of non-cash exchanges of an investment security			2
Non-cash consideration received for exchanges			1,600,000
Gains recognized on exchanges			$289,000

Investments_Details_4

Investments (Details 4) (USD $)	9 Months Ended
Investments (Details 4) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Amortized Cost
Due in one year or less	$12,515,000
Due after one year through five years	55,027,000
Due after five years through ten years	72,214,000
Due after ten years	9,986,000
Total amortized cost for fixed maturity securities	248,460,000	178,901,000
Fair value
Due in one year or less	12,705,000
Due after one year through five years	56,279,000
Due after five years through ten years	73,118,000
Due after ten years	10,524,000
Total fixed maturity securities	251,778,000	180,954,000
Mortgage-backed securities
Fair value
Mortgage-backed securities collateralized by subprime residential loans	1,200,000
Percentage of total investments which are collateralized by subprime residential loans	0.47%
Residential mortgage-backed
Amortized Cost
Residential mortgage-backed securities and Commercial mortgage-backed securities	82,102,000
Fair value
Residential mortgage-backed securities and Commercial mortgage-backed securities	82,401,000
Commercial mortgage-backed
Amortized Cost
Residential mortgage-backed securities and Commercial mortgage-backed securities	16,616,000
Fair value
Residential mortgage-backed securities and Commercial mortgage-backed securities	$16,751,000

Investments_Details_5

Investments (Details 5) (USD $)	3 Months Ended		9 Months Ended
Investments (Details 5) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Net investment income
Interest on investments	$1,287,000	$1,314,000	$3,687,000	$3,859,000
Dividends	32,000	35,000	93,000	108,000
Gross investment income	1,319,000	1,349,000	3,780,000	3,967,000
Investment expenses	-136,000	-102,000	-379,000	-301,000
Net investment income	1,183,000	1,247,000	3,401,000	3,666,000
Fair value of certificates of deposit and bonds	$36,900,000		$36,900,000		$28,800,000

Goodwill_and_Intangible_Assets1

Goodwill and Intangible Assets (Details) (USD $)	9 Months Ended
Goodwill and Intangible Assets (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Goodwill and intangible assets
Goodwill and intangible assets	$6,989,000	$7,906,000
Goodwill	2,600,000
Impairments of goodwill	0
Customer relationships/lists
Goodwill and intangible assets
Expected useful lives of definite lived intangible assets	15 years
Non-compete agreements \| Minimum
Goodwill and intangible assets
Expected useful lives of definite lived intangible assets	5 years
Non-compete agreements \| Maximum
Goodwill and intangible assets
Expected useful lives of definite lived intangible assets	9 years
Program segment
Goodwill and intangible assets
Goodwill	2,100,000
Lender segment
Goodwill and intangible assets
Goodwill	450,000
Definite-lived intangible assets, net of amortization	$4,400,000

Income_Tax_Provision_Details

Income Tax Provision (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Amount
Expected tax expense (benefit)			($3,497)	$4,123
Exclusion of Subchapter S income			8,497	-1,110
Change in tax status			-19,517
Change in federal statutory rate			-76
Tax-exempt income			-110	-196
State income taxes			395	448
Other			150	-29
Income taxes	$4,391	$1,181	($14,158)	$3,236
Effective Tax Rate
Expected tax expense (benefit) (as a percent)			35.00%	34.30%
Exclusion of Subchapter S income (as a percent)			-85.00%	-9.20%
Change in tax status (as a percent)			195.30%
Change in federal statutory rate (as a percent)			0.80%
Tax-exempt income (as a percent)			1.10%	-1.60%
State income taxes (as a percent)			-4.00%	3.70%
Other (as a percent)			-1.50%	-0.30%
Total income tax expense (benefit) (as a percent)			141.70%	26.90%

Reinsurance_Details

Reinsurance (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Ceded unearned premiums	$463,720	$365,333
Ceded loss and loss adjustment expense reserves	1,156,877	1,006,892
Total reinsurance recoverables	1,620,597	1,372,225
Secured reinsurance recoverables	-1,212,627	-1,014,947
Unsecured reinsurance recoverables	$407,970	$357,278

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Fair Value Measurements
Fixed-maturity securities	$251,778	$180,954
Equity securities	2,587	2,301
Transfers between Level 1, Level 2, and Level 3	0	0
Recurring basis \| Level 2
Fair Value Measurements
Total	254,365	183,255
Recurring basis \| Level 2 \| Fixed-maturity securities
Fair Value Measurements
Fixed-maturity securities	251,778	180,954
Recurring basis \| Level 2 \| Government
Fair Value Measurements
Fixed-maturity securities	14,517	9,855
Recurring basis \| Level 2 \| Government agency
Fair Value Measurements
Fixed-maturity securities	2,383	2,840
Recurring basis \| Level 2 \| State and municipality
Fair Value Measurements
Fixed-maturity securities	48,857	41,185
Recurring basis \| Level 2 \| Industrial and miscellaneous
Fair Value Measurements
Fixed-maturity securities	86,452	52,658
Recurring basis \| Level 2 \| Residential mortgage-backed
Fair Value Measurements
Fixed-maturity securities	82,401	65,334
Recurring basis \| Level 2 \| Commercial mortgage-backed
Fair Value Measurements
Fixed-maturity securities	16,751	8,671
Recurring basis \| Level 2 \| Redeemable preferred stock
Fair Value Measurements
Fixed-maturity securities	417	411
Recurring basis \| Level 2 \| Equity securities
Fair Value Measurements
Equity securities	2,587	2,301
Recurring basis \| Level 2 \| Non-redeemable preferred stock
Fair Value Measurements
Equity securities	1,995	1,802
Recurring basis \| Level 2 \| Common stock
Fair Value Measurements
Equity securities	592	499
Recurring basis \| Total
Fair Value Measurements
Total	254,365	183,255
Recurring basis \| Total \| Fixed-maturity securities
Fair Value Measurements
Fixed-maturity securities	251,778	180,954
Recurring basis \| Total \| Government
Fair Value Measurements
Fixed-maturity securities	14,517	9,855
Recurring basis \| Total \| Government agency
Fair Value Measurements
Fixed-maturity securities	2,383	2,840
Recurring basis \| Total \| State and municipality
Fair Value Measurements
Fixed-maturity securities	48,857	41,185
Recurring basis \| Total \| Industrial and miscellaneous
Fair Value Measurements
Fixed-maturity securities	86,452	52,658
Recurring basis \| Total \| Residential mortgage-backed
Fair Value Measurements
Fixed-maturity securities	82,401	65,334
Recurring basis \| Total \| Commercial mortgage-backed
Fair Value Measurements
Fixed-maturity securities	16,751	8,671
Recurring basis \| Total \| Redeemable preferred stock
Fair Value Measurements
Fixed-maturity securities	417	411
Recurring basis \| Total \| Equity securities
Fair Value Measurements
Equity securities	2,587	2,301
Recurring basis \| Total \| Non-redeemable preferred stock
Fair Value Measurements
Equity securities	1,995	1,802
Recurring basis \| Total \| Common stock
Fair Value Measurements
Equity securities	$592	$499

401k_ProfitSharing_Plan_and_Tr1

401(k) Profit-Sharing Plan and Trust (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Minimum age of officers and employees covered under plan			18 years
Contribution required to made by employer which match with employees contribution (as a percent)			50.00%
Eligible employees compensation (as a percent)			6.00%
Employer contribution expense	$212	$201	$836	$774

Stockbased_Payments_Details

Stock-based Payments (Details)	0 Months Ended	9 Months Ended	0 Months Ended
Stock-based Payments (Details)	Jul. 09, 2014	Sep. 30, 2014	29-May-14
Long-Term Incentive Plan 2014
Stock-based Payments
Granted (in shares)	38,500
Long-Term Incentive Plan 2014 \| Employee and non-employee director
Stock-based Payments
Shares issued			4,400,000
Non-qualified stock options
Average assumptions used to value stock-based payments
Volatility (as a percent)		32.96%
Expiration term		10 years
Expected term		5 years 6 months
Risk-free interest rate (as a percent)		1.85%
Dividend yield (as a percent)		0.40%
Non-qualified stock options \| Long-Term Incentive Plan 2014
Stock-based Payments
Vesting period		3 years
Non-qualified stock options \| Long-Term Incentive Plan 2014 \| Executive officers and certain employees
Stock-based Payments
Granted (in shares)			2,783,873
Restricted stock \| Long-Term Incentive Plan 2014
Stock-based Payments
Granted (in shares)			12,000
Vesting period		1 year

Concentration_of_Risk_Details

Concentration of Risk (Details)	9 Months Ended
	Sep. 30, 2014
	item
Customer
Concentration of Risk
Number of customers	2
Concentration of risk (as a percent)	5.00%
Reinsurer
Concentration of Risk
Number of reinsurers	3
Concentration of risk (as a percent)	51.00%

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (Alliance, CUNA, USD $)	0 Months Ended			9 Months Ended
In Millions, unless otherwise specified	Jul. 08, 2014	Jul. 01, 2014	Jul. 24, 2009	Sep. 30, 2014	Jun. 30, 2014
	item	Jul. 01, 2014	Jul. 24, 2009	Sep. 30, 2014	Jun. 30, 2014
Alliance \| CUNA
Commitments and Contingencies
Ceded percentage			50.00%
Reduction in percentage for policies written under reinsurance agreement		30.00%
Automatic renewal term				3 years
Accrued expenses					$17.80
Number of payments made to the counterparty	2
Amount of first payment made which is not subject to any future adjustments	14.8
Amount of second payment made which is subject to potential future adjustments based upon the net premium and loss ratio	$3

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Stock split ratio			0.0014
Numerator for both basic and diluted earnings per share:
Net income (loss)	$6,959	$6,997	$4,166	$8,785	$22,711
Denominator for both basic and diluted earnings per share:
Weighted-average common shares outstanding (in shares)	44,231,336	34,176,896	37,748,716	34,176,896
Dilutive effect of outstanding securities (determined using the treasury stock method) (in shares)	206,223		73,274
Weighted-average common shares outstanding and potential common shares outstanding (in shares)	44,437,559	34,176,896	37,821,990	34,176,896

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Business segment information
Total revenues	$40,571	$32,502	$111,501	$91,225
Income (loss) before income taxes	11,350	8,178	-9,992	12,021
Corporate
Business segment information
Total revenues	2,082	1,917	6,786	6,010
Income (loss) before income taxes	-2,135	-202	-26,648	-10,612
Operating segment \| Program segment
Business segment information
Total revenues	12,168	8,810	33,010	21,955
Income (loss) before income taxes	9,100	4,547	24,893	13,257
Operating segment \| Lender segment
Business segment information
Total revenues	26,321	21,775	71,705	63,260
Income (loss) before income taxes	$4,385	$3,833	($8,237)	$9,376

Segment_Information_Details_2

Segment Information (Details 2) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Segment assets
Total assets	$2,044,532	$1,690,951
Program segment
Segment assets
Total assets	1,644,319	1,389,595
Lender segment
Segment assets
Total assets	17,047	19,659
Corporate
Segment assets
Total assets	$383,166	$281,697

Common_Stock_Details

Common Stock (Details) (USD $)	0 Months Ended
In Millions, except Share data, unless otherwise specified	Jun. 25, 2014
Common Stock
Amount contributed to the capital of entities insurance subsidiaries	$50
Alliance \| CUNA
Common Stock
Pre-tax payments	17.8
Common stock
Common Stock
Value of common stock shares purchased from certain shareholders pursuant to stock redemption agreement	190.6
Number of common stock shares purchased from certain shareholders pursuant to stock redemption agreement	21,030,294
Common stock \| Private placement
Common Stock
Aggregate number of common stock shares sold	31,050,000
Net proceeds received	$280.60

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	9 Months Ended	0 Months Ended
Subsequent Events (Details) (USD $)	Sep. 30, 2014	Oct. 08, 2014	Oct. 22, 2014
Subordinated debentures
Subsequent Events
Variable rate basis	LIBOR
Basis spread on variable rate (as a percent)	4.10%
Subsequent event \| Subordinated debentures
Subsequent Events
Carrying value		$7,500,000
Debt Instrument, Repurchase Amount		6,750,000
Accrued interest		49,000
Gain resulting from transaction after deducting the unamortized portion of the initial issuance costs		$610,000
Subsequent event \| Maximum
Subsequent Events
Aggregate number of common stock shares offered under registration statement for resale			30,728,500