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The National Security Group, Inc. 661 East Davis Street Post Office Box 703 Elba, Alabama 36323 | EXHIBIT 99.1 | |
PRESS RELEASE
FOR IMMEDIATE RELEASE
For Additional Information Contact: Brian R. McLeod, Chief Financial Officer, at (334) 897-2273 Ext. 241.
Elba, Alabama (August 14, 2003)…Results for the three months and six months ended June 30, 2003 and 2002, based on accounting principles generally accepted in the United States of America, were reported today as follows:
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2003 | 2002 | 2003 | 2002 | |||||||||||
Premium Income | $ | 12,025,000 | $ | 8,063,000 | $ | 21,952,000 | $ | 15,306,000 | ||||||
Investment Income | 1,183,000 | 1,152,000 | 2,242,000 | 2,212,000 | ||||||||||
Realized Investment Gains | 595,000 | 454,000 | 661,000 | 678,000 | ||||||||||
Other Income | 333,000 | 272,000 | 666,000 | 520,000 | ||||||||||
Total Revenues | $ | 14,136,000 | $ | 9,941,000 | $ | 25,521,000 | $ | 18,716,000 | ||||||
Net Income | $ | 1,326,000 | $ | 98,000 | $ | 2,096,000 | $ | 442,000 | ||||||
Net Income Per Share | $ | 0.54 | $ | 0.04 | $ | 0.85 | $ | 0.18 | ||||||
The National Security Group, Inc., through its property & casualty and life insurance subsidiaries, offer property, casualty, life, accident and health insurance in twelve states.
NASDAQ Symbol: NSEC
Contact: Brian R. McLeod, Treasurer and Chief Financial Officer
The National Security Group, Inc.
661 East Davis Street
Post Office Box 703
Elba, Alabama 36323
(334)897-2273, ext.241