National Security (NSEC) 10-Q 13 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2018	Nov. 13, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	NATIONAL SECURITY GROUP INC
Entity Central Index Key	865,058
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		2,527,136

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Investments
Fixed maturities held-to-maturity, at amortized cost (estimated fair value: 2018 - $1,454; 2017 - $1,645)	$ 1,482,000	$ 1,616,000
Fixed maturities available-for-sale, at estimated fair value (cost: 2018 - $100,196; 2017 - $94,467)	98,219,000	95,758,000
Equity securities, at estimated fair value (cost: 2018 - $1,842; 2017 - $1,842)	4,566,000	4,509,000
Trading securities	107,000	107,000
Mortgage loans on real estate, at cost	158,000	162,000
Investment real estate, at book value	2,945,000	3,221,000
Policy loans	1,837,000	1,810,000
Company owned life insurance	4,841,000	4,974,000
Other invested assets	2,235,000	2,574,000
Total Investments	116,390,000	114,731,000
Cash and cash equivalents	5,154,000	6,644,000
Accrued investment income	864,000	768,000
Policy receivables and agents' balances, net	12,655,000	11,653,000
Reinsurance recoverable	212,000	366,000
Deferred policy acquisition costs	8,085,000	8,124,000
Property and equipment, net	1,671,000	1,781,000
Income tax recoverable	476,000	393,000
Deferred income tax asset, net	1,457,000	1,487,000
Other assets	756,000	491,000
Total Assets	147,720,000	146,438,000
LIABILITIES AND SHAREHOLDERS' EQUITY
Property and casualty benefit and loss reserves	7,644,000	7,075,000
Accident and health benefit and loss reserves	3,776,000	3,595,000
Life and annuity benefit and loss reserves	33,618,000	33,283,000
Unearned premiums	32,133,000	30,112,000
Policy and contract claims	826,000	903,000
Other policyholder funds	1,494,000	1,706,000
Short-term notes payable and current portion of long-term debt	800,000	1,300,000
Long-term debt	14,348,000	14,339,000
Other liabilities	6,241,000	6,500,000
Total Liabilities	100,880,000	98,813,000
Contingencies
Shareholders' equity
Common stock	2,527,000	2,522,000
Additional paid-in capital	5,554,000	5,483,000
Accumulated other comprehensive income (loss)	(1,778,000)	2,646,000
Retained earnings	40,537,000	36,974,000
Total Shareholders' Equity	46,840,000	47,625,000
Total Liabilities and Shareholders' Equity	$ 147,720,000	$ 146,438,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Investments
Fixed maturities held-to-maturity, at estimated fair value	$ 1,454	$ 1,645
Fixed maturities available-for-sale, at cost	100,196	94,467
Equity securities, at cost	$ 1,842	$ 1,842

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
REVENUES
Net premiums earned	$ 15,445	$ 15,467	$ 45,764	$ 45,838
Net investment income	1,020	939	2,799	2,795
Net realized investment gains	453	75	125	312
Other income	148	150	457	447
Total Revenues	17,066	16,631	49,145	49,392
BENEFITS, LOSSES AND EXPENSES
Policyholder benefits and settlement expenses	9,825	11,184	29,024	34,911
Amortization of deferred policy acquisition costs	782	706	2,372	2,470
Commissions	2,003	2,096	5,795	5,947
General and administrative expenses	2,404	2,398	7,075	6,410
Taxes, licenses and fees	567	709	1,565	1,915
Interest expense	306	320	917	969
Total Benefits, Losses and Expenses	15,887	17,413	46,748	52,622
Income (Loss) Before Income Taxes	1,179	(782)	2,397	(3,230)
INCOME TAX EXPENSE (BENEFIT)
Current	235	387	(83)	(510)
Deferred	37	(612)	645	(848)
Total income tax expense	272	(225)	562	(1,358)
Net Income (Loss)	$ 907	$ (557)	$ 1,835	$ (1,872)
INCOME (LOSS) PER COMMON SHARE BASIC AND DILUTED (in dollars per share)	$ 0.36	$ (0.22)	$ 0.73	$ (0.74)
DIVIDENDS DECLARED PER SHARE (in dollars per share)	$ 0.050	$ 0.050	$ 0.15	$ 0.15

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 907	$ (557)	$ 1,835	$ (1,872)
Other comprehensive income (loss), net of tax
Unrealized gains (losses) on securities, net of reclassification adjustment of $123 and $205 for 2018 and 2017, respectively	(395)	212	(2,582)	1,058
Unrealized gain on interest rate swap	58	70	265	180
Other comprehensive income (loss), net of tax	(337)	282	(2,317)	1,238
Comprehensive income (loss)	$ 570	$ (275)	$ (482)	$ (634)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Reclassification adjustment	$ 123	$ 205

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Common Stock	Additional Paid-in Capital
Cumulative effect of change in accounting principle	$ 0	$ 2,107	$ (2,107)
Balance at Dec. 31, 2017	47,625	36,974	2,646	$ 2,522	$ 5,483
Net income for the nine-month period ended September 30, 2018	1,835	1,835
Other comprehensive income (net of tax)	(2,317)		(2,317)
Common stock issued	76			5	71
Cash dividends	(379)	(379)
Balance at Sep. 30, 2018	$ 46,840	$ 40,537	$ (1,778)	$ 2,527	$ 5,554

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash Flows from Operating Activities
Net income (loss)	$ 1,835	$ (1,872)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense and amortization/accretion, net	218	390
(Increase) decrease in cash surrender value of company owned life insurance	133	(95)
Net realized gains (losses) on investments	(125)	(312)
Deferred income taxes	645	(848)
Amortization of deferred policy acquisition costs	2,372	2,470
Changes in assets and liabilities:
Change in receivable for securities sold	0	499
Change in accrued investment income	(96)	(39)
Change in reinsurance recoverable	154	1,277
Policy acquisition costs deferred	(2,333)	(2,567)
Change in accrued income taxes	(83)	(510)
Change in net policy liabilities and claims	2,016	3,007
Change in other assets/liabilities, net	227	(63)
Other, net	11	5
Net cash provided by operating activities	4,974	1,342
Cash Flows from Investing Activities
Available-for-sale securities	(14,741)	(12,118)
Property and equipment	(9)	(51)
Held-to-maturity securities	141	205
Available-for-sale securities	9,071	13,895
Real estate held for investment	188	0
Property and equipment	0	2
Other invested assets, net	(23)	(49)
Net cash provided by (used in) investing activities	(5,373)	1,884
Cash Flows from Financing Activities
Change in other policyholder funds	(212)	54
Change in short-term notes payable	(500)	(500)
Dividends paid	(379)	(378)
Net cash used in financing activities	(1,091)	(824)
Net change in cash and cash equivalents	(1,490)	2,402
Cash and cash equivalents, beginning of year	6,644	7,368
Cash and cash equivalents, end of period	$ 5,154	$ 9,770

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of The National Security Group, Inc. (the Company) and its wholly-owned subsidiaries: National Security Insurance Company (NSIC), National Security Fire and Casualty Company (NSFC) and NATSCO, Inc. (NATSCO). NSFC includes a wholly-owned subsidiary, Omega One Insurance Company (Omega). The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the consolidated financial statements have been included. All significant intercompany transactions and accounts have been eliminated. The financial information presented herein should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, which includes information and disclosures not presented herein. Use of 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 date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Among the more significant estimates included in these consolidated financial statements are reserves for future life insurance policy benefits, liabilities for losses and loss adjustment expenses, reinsurance recoverable associated with loss and loss adjustment expense liabilities, deferred policy acquisition costs, deferred income tax assets and liabilities, assessments of other-than-temporary impairments on investments and accruals for contingencies. Actual results could differ from these estimates. Earnings Per Share Earnings per share of common stock is based on the weighted average number of shares outstanding during each year. The adjusted weighted average shares outstanding were 2,524,715 at September 30, 2018 and 2,519,798 at September 30, 2017. The Company did not have any dilutive securities as of September 30, 2018 and 2017. Reclassifications Certain 2017 amounts have been reclassified from the prior year consolidated financial statements to conform to the 2018 presentation. Concentration of Credit Risk The Company maintains cash balances which are generally held in non-interest bearing demand deposit accounts subject to FDIC insured limits of $250,000 per entity. At September 30, 2018 , the net amount exceeding FDIC insured limits was $ 4,019,000 at three financial institutions. The Company has not experienced any losses in such accounts. Management of the Company reviews financial information of financial institutions on a quarterly basis and believes the Company is not exposed to any significant credit risk on cash and cash equivalents. Policy receivables are reported at unpaid balances. Policy receivables are generally offset by associated unearned premium liabilities and are not subject to significant credit risk. Receivables from agents, less provision for credit losses, are composed of balances due from independent agents. At September 30, 2018 , the single largest balance due from one agent totaled $623,000 . Reinsurance contracts do not relieve the Company of its obligations to policyholders. A failure of a reinsurer to meet its obligation could result in losses to the insurance subsidiaries. Allowances for losses on reinsurance recoverables are established if amounts are believed to be uncollectible. At September 30, 2018 and December 31, 2017, no amounts were deemed uncollectible. The Company, at least annually, evaluates the financial condition of all reinsurers and evaluates any potential concentrations of credit risk. At September 30, 2018 , management does not believe the Company is exposed to any significant credit risk related to its reinsurance program. Accounting Changes Not Yet Adopted Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, the Financial Accounting Standards Board (FASB) issued guidance to that removes, modifies and adds to the disclosure requirements related to fair value measurements. The guidance removes the requirements to disclose the amount and reasons for transfers between Level 1 and Level 2 assets, the policy for timing and transfers between levels and the valuation process for Level 3 fair value measurements. The guidance modifies disclosure requirements for investments in certain entities that calculate net asset value and clarifies the purpose of the measurement uncertainty disclosure. The guidance adds requirements to disclose changes in unrealized gains or losses included in other comprehensive income for recurring Level 3 fair value measurements and to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued guidance to improve the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity. The guidance improves timeliness of recognizing changes in the liability for future policy benefits and modifies the rate used to discount future cash flows. The guidance will simplify and improve accounting for certain market-based options or guarantees associated with deposit type contracts and simplify the amortization of deferred policy acquisition costs. The guidance also introduces certain financial statement presentation requirements, as well as significant additional quantitative and qualitative disclosures. The guidance is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of this new guidance. Due to the nature and extent of the changes required to the Company’s life insurance operations, the adoption of this standard is expected to have a material impact on the consolidated financial statements. Improvements to Nonemployee Share-Based Payment Accounting In June 2018, the FASB issued guidance to simplify the accounting for nonemployee share-based payment awards. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year The Company does not make any material share-based payments and does not expect the adoption to have a material impact on its financial position or results of operations. Recognition and Measurement of Financial Assets and Financial Liabilities In February 2018, the FASB issued guidance to address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. The guidance is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years beginning after June 15, 2018. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Leases In February 2016, the FASB issued guidance that requires lessees (for capital and operating leases) to recognize the lease liability and right-of-use asset at the commencement date of the lease. Additional transition guidance was issued in 2018. This guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those years. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Contingent Put and Call Options in Debt Instruments In March 2016, the FASB issued guidance that clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those years. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Financial Instruments - Credit Losses In June 2016, the FASB issued guidance that replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those years. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Receivables - Nonrefundable Fees and Other Costs In March 2017, the FASB issued guidance that shortens the amortization period for certain callable debt securities held at a premium and requires the premium to be amortized to the earliest call date. The guidance is effective for fiscal years beginning after December 15, 2018 and interim reporting periods within those fiscal years. The Company does not expect the adoption of this new guidance to have a significant impact on our financial position, results of operations or cash flows. Derivatives and Hedging In August 2017, the FASB issued guidance that amends and simplifies hedge accounting guidance in order to enable entities to better portray the economic results of their risk management activities. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those periods. Early adoption is permitted. The Company is currently evaluating the impact of the standard on its consolidated financial statements and related disclosures. Recently Adopted Accounting Standards Income Statement - Reporting Comprehensive Income In February 2018, the FASB issued guidance that allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The guidance eliminates the stranded tax effects resulting from the Tax Cuts and Jobs Act and improves the usefulness of information reported to financial statement users. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those periods. Early adoption is permitted. The Company adopted this guidance as of December 31, 2017. The adoption of this guidance resulted in a $435,000 reclassification to accumulated other comprehensive income from retained earnings related to stranded tax effects resulting from the Tax Cuts and Jobs Act. Revenue from Contracts with Customers In May 2014, FASB issued guidance on a comprehensive new revenue recognition standard. This standard will not impact accounting for insurance contracts, leases, financial instruments and guarantees. For those contracts that are impacted by the new guidance, the guidance will require an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to, in exchange for those goods or services. The guidance requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In August 2015, the FASB issued a deferral of the effective date by one year. This guidance is effective retrospectively for fiscal years beginning after December 15, 2017 and interim periods within those years. Early adoption of this standard is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Insurance contracts are specifically scoped out of this new guidance. The Company does not have policy fees or any material services that may be subject to the new revenue recognition guidance. The Company adopted this guidance as of January 1, 2018. The adoption of this guidance did not have an impact on its condensed consolidated financial statements. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued guidance that requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. The guidance requires entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes and requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset. The guidance eliminates the requirement for public companies to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost. This guidance is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The Company adopted this guidance as of January 1, 2018. The adoption of this guidance resulted in a $2,107,000 reclassification to retained earnings from accumulated other comprehensive income related to accumulated unrealized gains on equity securities as well as recognition of a $45,000 loss, net of tax, related to the change in value of equity securities. Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued guidance that clarifies how certain cash receipts and cash payments shall be presented and classified in the statement of cash flows. This guidance addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The guidance is effective for annual and interim reporting periods beginning after December 15, 2017. The Company adopted this guidance as of January 1, 2018. The adoption of this guidance did not have a significant impact on our financial position, results of operations or cash flows. Compensation - Stock Compensation In May 2017, the FASB issued guidance to provide clarity and reduce diversity in practice as well as cost and complexity when there is a change in the terms or conditions of a share-based payment award. The guidance is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The Company adopted this guidance as of January 1, 2018. The adoption of this guidance did not have a significant impact on our financial position, results of operations or cash flows.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2018
Variable Interest Entities [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES The Company holds a passive interest in a limited partnership that is considered to be a Variable Interest Entity (VIE) under the provisions of ASC 810 Consolidation . The Company is not the primary beneficiary of the entity and is not required to consolidate under ASC 810. The entity is a private placement investment fund formed for the purpose of investing in private equity investments. The Company owns less than 1% of the limited partnership. The carrying value of the investment totals $116,000 and is included as a component of Other Invested Assets in the accompanying condensed consolidated balance sheets. In December 2005, the Company formed National Security Capital Trust I, a statutory trust created under the Delaware Statutory Trust Act, for the sole purpose of issuing, in private placement transactions, $9,000,000 of trust preferred securities (TPS) and using the proceeds thereof, together with the equity proceeds received from the Company in the initial formation of the Trust, to purchase $9,279,000 of variable rate subordinated debentures issued by the Company. The Company owns all voting securities of the Trust and the subordinated debentures are the sole assets of the Trust. The Trust will meet the obligations of the TPS with the interest and principal paid on the subordinated debentures. The Company received net proceeds from the TPS transactions, after commissions and other costs of issuance, of $9,005,000 . The Company also holds all the voting securities issued by the Trust and such trusts are considered to be VIE's. The Trust is not consolidated because the Company is not the primary beneficiary of the trust. The Subordinated Debentures, disclosed in Note 7, are reported in the accompanying condensed consolidated balance sheets as a component of long-term debt. The Company's equity investments in the Trust total $279,000 and are included in Other Assets in the accompanying condensed consolidated balance sheets. In June 2007, the Company formed National Security Capital Trust II for the sole purpose of issuing, in private placement transactions, $3,000,000 of trust preferred securities (TPS) and using the proceeds thereof, together with the equity proceeds received from the Company in the initial formation of the Trust, to purchase $3,093,000 unsecured junior subordinated deferrable interest debentures. The Company owns all voting securities of the Trust and the subordinated debentures are the sole assets of the Trust. The Trust will meet the obligations of the TPS with the interest and principal paid on the subordinated debentures. The Company received net proceeds from the TPS transactions, after commissions and other costs of issuance, of $2,995,000 . The Company also holds all the voting securities issued by the Trust and such trusts are considered to be VIE's. The Trust is not consolidated because the Company is not the primary beneficiary of the Trust. The Subordinated Debentures, disclosed in Note 7, are reported in the accompanying condensed consolidated balance sheets as a component of long-term debt. The Company's equity investments in the Trust total $93,000 and are included in Other Assets in the accompanying condensed consolidated balance sheets.

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2018
Investments [Abstract]
INVESTMENTS	INVESTMENTS Our investment in available-for-sale securities, which are reported at fair value, includes fixed maturity securities and prior to January 1, 2018, equity securities. Net unrealized gains or losses on equity securities prior to January 1, 2018, and on fixed maturities are reported after-tax as a component of other comprehensive income. As of January 1, 2018, changes in fair value of equity securities are recognized through net income. The amortized cost and aggregate fair values of investments in available-for-sale securities as of September 30, 2018 are as follows ( dollars in thousands ): Available-for-sale securities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 39,241 $ 422 $ 1,063 $ 38,600 Mortgage backed securities 14,486 55 694 13,847 Private label asset backed securities 13,762 130 40 13,852 Obligations of states and political subdivisions 11,685 140 182 11,643 U.S. Treasury securities and obligations of U.S. Government corporations and agencies 21,022 18 763 20,277 Total $ 100,196 $ 765 $ 2,742 $ 98,219 The amortized cost and aggregate fair values of investments in held-to-maturity securities as of September 30, 2018 are as follows ( dollars in thousands ): Held-to-maturity securities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Mortgage backed securities $ 1,482 $ 6 $ 34 $ 1,454 Total $ 1,482 $ 6 $ 34 $ 1,454 The amortized cost and aggregate fair values of investments in available-for-sale securities as of December 31, 2017 are as follows ( dollars in thousands ): Available-for-sale securities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 39,127 $ 1,103 $ 321 $ 39,909 Mortgage backed securities 12,892 177 274 12,795 Private label asset backed securities 10,128 382 — 10,510 Obligations of states and political subdivisions 13,758 389 54 14,093 U.S. Treasury securities and obligations of U.S. Government corporations and agencies 18,562 206 317 18,451 Total fixed maturities 94,467 2,257 966 95,758 Equity securities 1,842 2,667 — 4,509 Total $ 96,309 $ 4,924 $ 966 $ 100,267 The amortized cost and aggregate fair values of investments in held-to-maturity securities as of December 31, 2017 are as follows ( dollars in thousands ): Held-to-maturity securities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Mortgage backed securities $ 1,615 $ 29 $ — $ 1,644 U.S. Treasury securities and obligations of U.S. Government corporations and agencies 1 — — 1 Total $ 1,616 $ 29 $ — $ 1,645 The amortized cost and aggregate fair value of debt securities at September 30, 2018 , by contractual maturity, are presented in the following table ( dollars in thousands ). Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollars in Thousands) Amortized Cost Fair Value Available-for-sale securities: Due in one year or less $ 1,089 $ 1,093 Due after one year through five years 19,620 19,538 Due after five years through ten years 27,204 26,801 Due after ten years 52,283 50,787 Total $ 100,196 $ 98,219 Held-to-maturity securities: Due in one year or less $ — $ — Due after one year through five years 47 49 Due after five years through ten years — — Due after ten years 1,435 1,405 Total $ 1,482 $ 1,454 A summary of securities available-for-sale with unrealized losses as of September 30, 2018 , along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows ( dollars in thousands ): Less than 12 months 12 months or longer Total September 30, 2018 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Total Securities in a Loss Position Fixed maturities Corporate debt securities $ 20,029 $ 631 $ 6,906 $ 432 $ 26,935 $ 1,063 49 Mortgage backed securities 7,491 233 4,734 461 12,225 694 29 Private asset backed securities 4,854 40 — — 4,854 40 6 Obligations of state and political subdivisions 3,660 54 3,458 128 7,118 182 15 U.S. Treasury securities and obligations of U.S. Government corporations and agencies 11,243 232 8,442 531 19,685 763 28 $ 47,277 $ 1,190 $ 23,540 $ 1,552 $ 70,817 $ 2,742 127 A summary of securities held-to-maturity with unrealized losses as of September 30, 2018 along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows: Less than 12 months 12 months or longer Total September 30, 2018 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Total Securities in a Loss Position Fixed maturities: Mortgage backed securities $ 1,044 $ 34 $ — $ — $ 1,044 $ 34 1 $ 1,044 $ 34 $ — $ — $ 1,044 $ 34 1 A summary of securities available-for-sale with unrealized losses as of December 31, 2017 , along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows ( dollars in thousands ): Less than 12 months 12 months or longer Total December 31, 2017 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Total Securities in a Loss Position Fixed maturities Corporate debt securities $ 6,567 $ 166 $ 5,607 $ 155 $ 12,174 $ 321 20 Mortgage backed securities 5,872 124 2,281 150 8,153 274 17 Obligations of state and political subdivisions 2,176 7 2,574 47 4,750 54 9 U.S. Treasury securities and obligations of U.S. Government corporations and agencies 4,878 111 6,667 206 11,545 317 18 $ 19,493 $ 408 $ 17,129 $ 558 $ 36,622 $ 966 64 There were no equity securities or securities held-to-maturity with unrealized losses as of December 31, 2017 . The Company conducts periodic reviews to identify and evaluate securities in an unrealized loss position in order to identify other-than-temporary impairments. For securities in an unrealized loss position, the Company assesses whether the Company has the intent to sell the security or more-likely-than-not will be required to sell the security before the anticipated recovery. If either of these conditions is met, the Company is required to recognize an other-than-temporary impairment with the entire unrealized loss reported in earnings. For securities in an unrealized loss position that do not meet these conditions, the Company assesses whether the impairment of a security is other-than-temporary. If the impairment is determined to be other-than-temporary, the Company is required to separate the other-than-temporary impairments into two components: the amount representing the credit loss and the amount related to all other factors. The credit loss is the portion of the amortized book value in excess of the net present value of the projected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment. The credit loss component of other-than-temporary impairments is reported in earnings, whereas the amount relating to factors other than credit losses are recorded in other comprehensive income, net of taxes. Management has evaluated each security in a significant unrealized loss position in both the debt and equity investment portfolios. The Company has no material exposure to sub-prime mortgage loans and approximately 5.75% of the fixed income investment portfolio is rated below investment grade. In evaluating whether or not the equity loss positions were other-than-temporary impairments, Management evaluated financial information on each company and where available, reviewed analyst reports from at least two independent sources. Based on a review of the available financial information, the prospect for future earnings of each company and consideration of the Company’s intent and ability to hold the securities until market values recovered, it was determined that the securities in an accumulated loss position in the portfolio were temporary impairments. For the nine months ended September 30, 2018 and year ended December 31, 2017, the Company realized no other-than-temporary impairments. At September 30, 2018, the three largest losses not realized as an impairment were in the bond portfolio and each totaled $108,000 . Each of these losses was driven by changes in market interest rates. At December 31, 2017, the single largest loss not realized as an impairment was in the bond portfolio and totaled $75,000 . The second largest loss position was in the bond portfolio and totaled $60,000 . The third largest loss position was in the bond portfolio and totaled $53,000 . Major categories of investment income are summarized as follows (dollars in thousands): Three months ended Nine months ended 2018 2017 2018 2017 Fixed maturities $ 989 $ 860 $ 2,843 $ 2,518 Equity securities 21 24 61 72 Mortgage loans on real estate 2 2 6 7 Investment real estate 1 2 2 4 Policy loans 35 30 105 96 Company owned life insurance change in surrender value 3 38 (133 ) 95 Other 6 14 21 101 1,057 970 2,905 2,893 Less: Investment expenses 37 31 106 98 Net investment income $ 1,020 $ 939 $ 2,799 $ 2,795 Major categories of realized investment gains and losses are summarized as follows (dollars in thousands): Three months ended Nine months ended 2018 2017 2018 2017 Fixed maturities $ 27 $ 75 $ 156 $ 310 Change in fair value of equity securities 426 — 57 — Other, principally real estate — — (88 ) 2 Net realized investment gains (losses) $ 453 $ 75 $ 125 $ 312 An analysis of the net change in unrealized gains and losses on available-for-sale securities follows (dollars in thousands): September 30, December 31, 2017 Net change in unrealized gains (losses) on available-for-sale securities before deferred tax $ (3,268 ) $ 1,402 Deferred income tax 686 (476 ) Net change in unrealized gains (losses) on available-for-sale securities $ (2,582 ) $ 926

FAIR VALUE OF FINANCIAL ASSETS

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES	FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES Our available-for-sale securities consists of fixed maturity and equity securities which are recorded at fair value in the accompanying condensed consolidated balance sheets. The change in the fair value of these investments, unless deemed to be other-than-temporarily impaired, is recorded as a component of other comprehensive income. We are permitted to elect to measure financial instruments and certain other items at fair value, with the change in fair value recorded in earnings. We elected not to measure any eligible items using the fair value option. Accounting standards define fair value as the price that would be received to sell an asset or would be paid to transfer a liability in an orderly transaction between market participants at the measurement date, and establishes a framework to make the measurement of fair value more consistent and comparable. In determining fair value, we primarily use prices and other relevant information generated by market transactions involving identical or comparable assets. The Company categorizes assets and liabilities carried at their fair value based upon a fair value hierarchy: Level 1 – Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 1 assets and liabilities consist of money market fund deposits and certain of our marketable debt and equity instruments, including equity instruments offsetting deferred compensation, that are traded in an active market with sufficient volume and frequency of transactions. Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets include certain of our marketable debt and equity instruments with quoted market prices that are traded in less active markets or priced using a quoted market price for similar instruments. Level 2 assets also include marketable equity instruments with security-specific restrictions that would transfer to the buyer, marketable debt instruments priced using indicator prices which represent non-binding market consensus prices that can be corroborated by observable market quotes, as well as derivative contracts and debt instruments priced using inputs that are observable in the market or can be derived principally from or corroborated by observable market data. Marketable debt instruments in this category generally include commercial paper, bank time deposits, repurchase agreements for fixed-income instruments, and a majority of floating-rate notes, corporate bonds, and municipal bonds. Level 3 - Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. Level 3 assets and liabilities include marketable debt instruments, non-marketable equity investments, derivative contracts, and company issued debt with values are determined using inputs that are both unobservable and significant to the values of the instruments being measured. Level 3 assets also include marketable debt instruments that are priced using indicator prices that we were unable to corroborate with observable market quotes. Marketable debt instruments in this category generally include asset-backed securities and certain floating-rate notes, corporate bonds, and municipal bonds. Assets/Liabilities Measured at Fair Value on a Recurring Basis Financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 are summarized in the following table by the type of inputs applicable to the fair value measurements (in thousands): Fair Value Measurements at Reporting Date Using Description Total Level 1 Level 2 Level 3 Financial Assets Fixed maturities available-for-sale Corporate debt securities $ 38,600 $ — $ 38,600 $ — Mortgage backed securities 13,847 — 13,847 — Private label asset backed securities 13,852 — 13,852 — Obligations of states and political subdivisions 11,643 — 11,643 — U.S. Treasury securities and obligations of U.S. Government corporations and agencies 20,277 20,277 — — Trading securities 107 107 — — Equity securities 4,566 3,454 — 1,112 Total Financial Assets $ 102,892 $ 23,838 $ 77,942 $ 1,112 Financial Liabilities Interest rate swap $ (272 ) $ — $ — $ (272 ) Total Financial Liabilities $ (272 ) $ — $ — $ (272 ) The methods and assumptions the Company uses to estimate the fair value of assets and liabilities measured at fair value on a recurring basis are summarized below. Fixed maturities available-for-sale — The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent pricing services. Consistent with the fair value hierarchy described above, securities with validated quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Trading securities — Trading securities consist primarily of mutual funds whose fair values are determined consistent with similar instruments described above under “Fixed Maturities” and below under “Equity Securities.” Equity securities — Equity securities consist principally of investments in common and preferred stock of publicly traded companies and privately traded securities. The fair values of our publicly traded equity securities are based on quoted market prices in active markets for identical assets and are classified within Level 1 in the fair value hierarchy. Estimated fair values for our privately traded equity securities require a substantial level of judgment. Privately traded equity securities are classified within Level 3. Interest rate swaps — Interest rate swaps are recorded at fair value either as assets, within other assets or as liabilities, within other liabilities. The fair values of our interest rate swaps are provided by a third-party broker and are classified within Level 3. As of September 30, 2018 , Level 3 fair value measurements of assets include $1,112,000 of equity securities in a local community bank whose value is based on an evaluation of the financial statements of the entity. The Company does not develop the unobservable inputs used in measuring fair value. As of September 30, 2018 , Level 3 fair value measurements of liabilities include $272,000 net fair value of various interest rate swap agreements whose value is based on analysis provided by a third party that utilizes financial modeling tools and assumptions on interest and other factors. The Company does not develop the unobservable inputs used in measuring fair value. Additional information regarding the interest rate swap agreements is provided in Note 7. The table below presents a reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2018 (in thousands): For the nine months ended September 30, 2018 Equity Securities Interest Rate Swap Beginning balance $ 1,073 $ (608 ) Total gains or losses (realized and unrealized): Included in earnings 39 — Included in other comprehensive income — 336 Purchases: — — Sales: — — Issuances: — — Settlements: — — Transfers in/(out) of Level 3 — — Ending balance $ 1,112 $ (272 ) The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held as of September 30, 2018: $ — $ — For the nine months ended ended September 30, 2018 , there were no assets or liabilities measured at fair values on a nonrecurring basis. Financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 are summarized in the following table by the type of inputs applicable to the fair value measurements (in thousands): Fair Value Measurements at Reporting Date Using Description Total Level 1 Level 2 Level 3 Financial Assets Fixed maturities available-for-sale Corporate debt securities $ 39,909 $ — $ 39,909 $ — Mortgage backed securities 12,795 — 12,795 — Private label asset backed securities 10,510 — 10,510 — Obligations of states and political subdivisions 14,093 — 14,093 — U.S. Treasury securities and obligations of U.S. Government corporations and agencies 18,451 18,451 — — Trading securities 107 107 — — Equity securities available-for-sale 4,509 3,436 — 1,073 Total Financial Assets $ 100,374 $ 21,994 $ 77,307 $ 1,073 Financial Liabilities Interest rate swap $ (608 ) $ — $ — $ (608 ) Total Financial Liabilities $ (608 ) $ — $ — $ (608 ) The table below presents a reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2017 (in thousands): For the year ended December 31, 2017 Equity Securities Available-for-Sale Interest Rate Swap Beginning balance $ 1,258 $ (1,030 ) Total gains or losses (realized and unrealized): Included in earnings — — Included in other comprehensive income 114 422 Purchases: 46 — Sales: (345 ) — Issuances: — — Settlements: — — Transfers in/(out) of Level 3 — — Ending balance $ 1,073 $ (608 ) The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held as of December 31, 2017: $ — $ — For the year ended December 31, 2017, there were no assets or liabilities measured at fair values on a nonrecurring basis. The Company is exposed to certain risks in the normal course of its business operations. The primary risk that is managed through the use of derivatives is interest rate risk on floating rate borrowings. This risk is managed through the use of interest rate swap agreements which are designated as cash flow hedges. For cash flow hedges, the effective portion of the gain or loss on the interest rate swap is included as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged transaction is recognized in earnings. The Company does not hold or issue derivatives that are not designated as hedging instruments. See Note 7 for additional information about the interest rate swap agreements. The following methods and assumptions were used to estimate fair value of each class of financial instrument for which it is practical to estimate that value: Cash and cash equivalents — the carrying amount is a reasonable estimate of fair value. Fixed maturities held-to-maturity — the carrying amount is amortized cost; the fair values of the Company’s public fixed maturity securities that are classified as held-to-maturity are generally based on prices obtained from independent pricing services. Mortgage loans — the carrying amount is a reasonable estimate of fair value due to the restrictive nature and limited marketability of the mortgage notes. Policy loans — the carrying amount is a reasonable estimate of fair value. Company owned life insurance — the carrying amount is a reasonable estimate of fair value. Other invested assets — the carrying amount is a reasonable estimate of fair value. Other policyholder funds — the carrying amount is a reasonable estimate of fair value. Debt — the carrying amount is a reasonable estimate of fair value. The carrying amount and estimated fair value of the Company’s financial instruments as of September 30, 2018 and December 31, 2017 are as follows (in thousands): September 30, 2018 December 31, 2017 Assets and related instruments Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Held-to-maturity securities $ 1,482 $ 1,454 $ 1,616 $ 1,645 Mortgage loans 158 158 162 162 Policy loans 1,837 1,837 1,810 1,810 Company owned life insurance 4,841 4,841 4,974 4,974 Other invested assets 2,235 2,235 2,574 2,574 Liabilities and related instruments Other policyholder funds 1,494 1,494 1,706 1,706 Short-term notes payable and current portion of long-term debt 800 800 1,300 1,300 Long-term debt 14,348 14,348 14,339 14,339

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Major categories of property and equipment are summarized as follows (dollars in thousands): September 30, 2018 December 31, 2017 Building and improvements $ 3,378 $ 3,378 Electronic data processing equipment 1,518 1,512 Furniture and fixtures 488 486 5,384 5,376 Less accumulated depreciation 3,713 3,595 Property and equipment, net $ 1,671 $ 1,781 Depreciation expense for the nine months ended September 30, 2018 was $119,000 ( $121,000 for the year ended December 31, 2017).

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES On December 22, 2017, the President signed the Tax Cuts and Jobs Act (TCJA), a comprehensive tax legislation which, among other things, reduced the Company's statutory federal income tax rate from 34% to 21% effective January 1, 2018. In addition to the reduction in tax rates, the TCJA makes broad and complex changes to the Internal Revenue Code that will introduce changes to many tax related exclusions, deductions and credits. Management believes that, based on its historical pattern of taxable income, the Company will produce sufficient income in the future to realize its deferred tax assets. The Company recognized net deferred tax asset positions of $1,457,000 at September 30, 2018 and $1,487,000 at December 31, 2017 . The tax effect of significant differences representing deferred tax assets and liabilities are as follows (dollars in thousands): As of September 30, 2018 As of December 31, 2017 General expenses $ 1,096 $ 1,069 Unearned premiums 1,357 1,269 Claims liabilities 479 484 AMT credit 766 1,575 Impairment on real estate owned 116 116 Unrealized losses on securities available-for-sale 415 — Unrealized loss on interest rate swaps 57 128 Deferred tax assets 4,286 4,641 Depreciation (79 ) (88 ) Deferred policy acquisition costs (1,698 ) (1,706 ) Pre-1984 policyholder surplus account (480 ) (529 ) Unrealized gains on securities available-for-sale — (831 ) Unrealized gains on equity securities (572 ) — Deferred tax liabilities (2,829 ) (3,154 ) Net deferred tax asset $ 1,457 $ 1,487 The appropriate income tax effects of changes in temporary differences are as follows (dollars in thousands): Nine months ended 2018 2017 Deferred policy acquisition costs $ (8 ) $ 33 Unearned premiums (88 ) (179 ) General expenses (27 ) (6 ) Depreciation (9 ) — Claims liabilities 5 (36 ) AMT credit 809 (160 ) Impact of repeal of special provision on pre-1984 policyholder surplus (49 ) — Unrealized gains on equity securities 12 — NOL carryforward — (500 ) Deferred income tax expense (benefit) $ 645 $ (848 ) Total income tax expense (benefit) varies from amounts computed by applying current federal income tax rates to income or loss before income taxes. The reasons for these differences and the approximate tax effects are as follows: Nine months ended 2018 2017 Federal income tax rate applied to pre-tax income/loss 21.0 % 34.0 % Dividends received deduction and tax-exempt interest (0.9 )% 1.5 % Company owned life insurance 1.2 % 1.0 % Small life deduction — % 10.0 % Other, net 2.2 % (4.5 )% Effective federal income tax rate 23.5 % 42.0 % The Company recognizes tax-related interest and penalties as a component of tax expense. The Company files income tax returns in the U.S. federal jurisdiction and various states. The Company is not subject to examinations by authorities related to its U.S. federal or state income tax filings for years prior to 2014. Tax returns have been filed through the year 2016.

NOTES PAYABLE AND LONG-TERM DEB

NOTES PAYABLE AND LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
NOTES PAYABLE AND LONG-TERM DEBT	NOTES PAYABLE AND LONG-TERM DEBT Short-term debt and current portion of long-term debt consisted of the following as of September 30, 2018 and December 31, 2017 ( dollars in thousands) : September 30, December 31, 2018 2017 Current portion of installment note payable due in November with variable interest rate equal to the WSJ prime rate plus 0.5%. Unsecured. $ 800 $ 800 Line of credit with variable interest rate equal to the WSJ prime rate, subject to a 5.0% floor; maturity March 2020 (renewed March 2018). Interest payments due quarterly. Unsecured. — 500 $ 800 $ 1,300 Long-term debt consisted of the following as of September 30, 2018 and December 31, 2017 ( dollars in thousands ): September 30, December 31, 2018 2017 Promissory note with variable interest rate equal to the WSJ prime rate plus 0.5%; maturity November 2019. Annual installment payments beginning November 2017 with final balloon payment due November 30, 2019. Unsecured. $ 2,200 $ 2,200 Subordinated debentures issued on December 15, 2005 with floating rate interest equal to 3-Month LIBOR plus 375 basis points; net of $162,000 in debt issuance cost ($168,000 in 2017); maturity December 2035. Interest payable quarterly. Redeemable prior to maturity. Unsecured. 9,117 9,111 Subordinated debentures issued on June 21, 2007 with floating rate interest equal to 3-Month LIBOR plus 340 basis points; net of $62,000 in debt issuance cost ($65,000 in 2017); maturity June 15, 2037. Interest payable quarterly. Redeemable prior to maturity. Unsecured. 3,031 3,028 $ 14,348 $ 14,339 The Company has entered into various swap agreements related to the trust preferred securities. On March 19, 2009, the Company entered into a forward swap effective September 17, 2012, with a notional amount of $3,000,000 and designated the swap as a hedge against changes in cash flows attributable to changes in the benchmark interest rate (LIBOR) associated with the subordinated debentures issued June 21, 2007. Quarterly, commencing September 17, 2012, under the terms of the forward swap, the Company will pay interest at a fixed rate of 7.02% until March 15, 2019. On May 26, 2010, the Company entered into a forward swap with a notional amount of $9,000,000 effective December 15, 2015, which hedges against changes in cash flows following the termination of the fixed rate period. Quarterly, commencing March 16, 2016 under the terms of the forward swap, the Company pays interest at a fixed rate of 8.49% until March 15, 2020. The swaps entered into in 2009 and 2010 have fair values of $17,000 (liability) and $255,000 (liability), respectively, for a total liability of $272,000 at September 30, 2018 ( $608,000 at December 31, 2017 ). The swap liability is reported as a component of other liabilities on the condensed consolidated balance sheets. A net valuation gain of $265,000 (net of tax) is included in accumulated other comprehensive income related to the swap agreements at September 30, 2018 . A net valuation gain of $278,000 (net of tax) was included in accumulated other comprehensive income related to the swap at December 31, 2017 . We use dollar offset at the hedge's inception and for each reporting period thereafter to assess whether the derivative used in a hedging transaction is expected to be, and has been, effective in offsetting changes in the fair value of the hedged item. Since inception, no portion of the hedged item has been deemed ineffective. For all hedges, we discontinue hedge accounting if it is determined that a derivative is not expected to be, or has ceased to be, effective as a hedge. The Company’s interest rate swaps include provisions requiring the Company to post collateral when the derivative is in a net liability position. At September 30, 2018 , the Company has securities on deposit with fair market values of $918,000 ( $918,000 of which is posted as collateral). At December 31, 2017 , the Company had securities on deposit with fair market values of $1,446,000 (all of which is posted as collateral). See Note 4 for additional information about the interest rate swaps.

POLICY AND CLAIM RESERVES

POLICY AND CLAIM RESERVES	9 Months Ended
	Sep. 30, 2018
Insurance [Abstract]
POLICY AND CLAIM RESERVES	POLICY AND CLAIM RESERVES The Company regularly updates its reserve estimates as new information becomes available and events occur that may impact the resolution of unsettled claims. Reserve estimation can be an inherently uncertain process and reserves estimates can be revised up or down depending on changes in circumstances. Changes in prior years' reserve estimates are reflected in the results of operations in the year such changes are determined. The following table is a reconciliation of beginning and ending property and casualty reserve balances for claims and claim adjustment expense (dollars in thousands): Nine months ended 2018 2017 Summary of claims and claim adjustment expense reserves Balance, beginning of year $ 7,075 $ 7,531 Less reinsurance recoverable on unpaid losses 327 1,184 Net balances at beginning of year 6,748 6,347 Net losses: Provision for claims and claim adjustment expenses for claims arising in current year 25,460 32,867 Estimated claims and claim adjustment expenses for claims arising in prior years (250 ) (1,355 ) Total increases 25,210 31,512 Claims and claim adjustment expense payments for claims arising in: Current year 20,906 26,275 Prior years 3,592 3,041 Total payments 24,498 29,316 Net balance at end of period 7,460 8,543 Plus reinsurance recoverable on unpaid losses 184 354 Claims and claim adjustment expense reserves at end of period $ 7,644 $ 8,897 The slight increase in claim and claim adjustment expense reserves before reinsurance recoverable is primarily due to the increase in reserves associated with Hurricane Florence which occurred in September of 2018. The estimate for claims arising in prior years was reduced $250,000 in 2018 (reduced $1,355,000 in 2017) due to favorable loss development during the year on claims arising in prior years. Accident and Health Claim Reserves The Company, through its life insurance subsidiary, underwrites a limited number of short duration accident and health contracts. These claims are typically settled in three years or less and the reserve for unpaid claims totaled $372,000 at September 30, 2018 ( $367,000 at December 31, 2017). These claims are a component of policy and contract claims which totaled $826,000 at September 30, 2018 ( $903,000 at December 31, 2017).

REINSURANCE

REINSURANCE	9 Months Ended
	Sep. 30, 2018
Reinsurance Disclosures [Abstract]
REINSURANCE	REINSURANCE The Company's insurance operations utilize reinsurance in the risk management process in order to limit losses, minimize exposure to large risks, provide additional capacity for future growth and effect business-sharing arrangements. Life reinsurance is placed through yearly renewable term coverage. Property and casualty reinsurance is placed on an excess of loss basis to cover losses from catastrophe events. Reinsurance ceded arrangements do not discharge the insurance subsidiaries as the primary insurer, except for cases involving a novation. Failure of re-insurers to honor their obligations could result in losses to the insurance subsidiaries. The insurance subsidiaries evaluate the financial conditions of their reinsurance companies and monitor concentrations of credit risk arising from similar geographic regions, activities, or economic characteristics of the companies to minimize their exposure to significant losses from reinsurance insolvencies. In the normal course of business, NSFC seeks to reduce the loss that may arise from catastrophes or other individually significant large loss events that cause unfavorable underwriting results or have adverse impacts on regulatory capital levels by re-insuring certain levels of risk in various areas of exposure with reinsurance companies. NSFC maintains a catastrophe reinsurance agreement to cover losses from catastrophic events, primarily hurricanes and tropical storms. Under the catastrophe reinsurance program, the Company retains the first $4,000,000 in losses from each catastrophe event. Catastrophe reinsurance coverage is maintained in three layers as follows: Layer Reinsurers' Limits of Liability First Layer 100% of $13,500,000 in excess of $4,000,000 retention Second Layer 100% of $25,000,000 in excess of $17,500,000 Third Layer 100% of $30,000,000 in excess of $42,500,000 Each reinsurance layer covers events occurring from January 1 through December 31 of the contract year. All significant reinsurance companies under the program carry A.M. Best ratings of A- (Excellent) or higher, or equivalent ratings. The Company's catastrophe reinsurance contract allows for one reinstatement. The Company maintains reinstatement premium protection (RPP) to cover reinstatement premiums incurred. The RPP further reduces risk from a major catastrophe and serves to protect the Company's capital position by reducing the modeled 100 year event net cost. Amounts recoverable from re-insurers are estimated in a manner consistent with the claim liability associated with the underlying insurance policies. Amounts paid for prospective reinsurance contracts are reported as prepaid reinsurance premiums and amortized over the remaining contract period. In the normal course of business, NSIC seeks to limit its exposure to loss on any single insured and to recover a portion of benefits paid by ceding reinsurance to reinsurance companies under excess coverage contracts. NSIC retains a maximum of $50,000 of coverage per individual life. Cost is amortized over the reinsurance contract period. At September 30, 2018 , the largest reinsurance recoverable of a single reinsurer was $ 318,000 ($ 322,000 at December 31, 2017). Amounts reported as ceded incurred losses were related to development of losses from prior year catastrophes.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS The Company and its subsidiaries have an established retirement savings plan (401K Plan). All full-time employees are eligible to participate, and all employer contributions are fully vested for employees who have completed 1,000 hours of service in the year of contribution. Company matching contributions for the nine months ended September 30, 2018 and 2017 amounted to $135,000 and $144,000 , respectively. The Company contributes dollar-for-dollar matching contributions up to 5% of compensation subject to government limits. The Company established a non-qualified plan under which Company directors are allowed to defer all or a portion of directors' fees into various investment options. A supplemental executive retirement plan (SERP) covers named executive officers, with the Company contributing 15% of executive compensation to the plan. Contributions to the plan are fully vested upon the earlier of death, disability, change in control, or ten years of participation in the plan. Costs for amounts related to the non-qualified deferred compensation plans for the nine months ended September 30, 2018 and 2017 amounted to an approximate increase of $128,000 and $215,000 in employee benefit related expenses, respectively. The Company and its subsidiaries established an Employee Stock Ownership Plan (ESOP) in January 2010, to enable eligible employees to acquire a proprietary interest in the Company's common stock and to provide retirement and other benefits to such employees. There were contributions of $232,000 during the nine months ended September 30, 2018 and contributions of $268,000 during the nine months ended September 30, 2017. All contributions were made in cash for purchase of Company shares in the open market. The Company has not allocated newly issued shares directly to the plan and the plan has no debt.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY During the nine months ended September 30, 2018 and year ended December 31, 2017 , changes in shareholders' equity consisted of net income of $1,835,000 and net loss of $1,203,000 , respectively; dividends paid of $379,000 in 2018 and $504,000 in 2017; decreases in accumulated other comprehensive income, net of applicable taxes, of $2,317,000 in 2018 and increases in accumulated other comprehensive income, net of applicable taxes, of $1,204,000 in 2017. Other comprehensive gains and losses consisted of accumulated unrealized gains and losses on securities available-for-sale and unrealized loss on interest rate swaps. Preferred Stock Preferred Stock may be issued in one or more series as shall from time to time be determined and authorized by the Board of Directors. The directors may make specific provisions regarding (a) the voting rights, if any (b) whether such dividends are to be cumulative or noncumulative (c) the redemption provisions, if any (d) participating rights, if any (e) any sinking fund or other retirement provisions (f) dividend rates (g) the number of shares of such series and (h) liquidation preference. There is currently no Preferred Stock issued or outstanding. Common Stock The holders of the Class A Common Stock will have one-twentieth of one vote per share, and the holders of the common stock will have one vote per share. There is currently no Class A Common Stock issued or outstanding. In the event of any liquidation, dissolution or distribution of the assets of the Company remaining after the payments to the holders of the Preferred Stock of the full preferential amounts to which they may be entitled as provided in the resolution or resolutions creating any series thereof, the remaining assets of the Company shall be divided and distributed among the holders of both classes of common stock, except as may otherwise be provided in any such resolution or resolutions. The table below provides information regarding the Company's preferred and common stock as of September 30, 2018 and December 31, 2017 : September 30, 2018 December 31, 2017 Authorized Issued Outstanding Authorized Issued Outstanding Preferred Stock, $1 par value 500,000 — — 500,000 — — Class A Common Stock, $1 par value 2,000,000 — — 2,000,000 — — Common Stock, $1 par value 3,000,000 2,527,136 2,527,136 3,000,000 2,522,312 2,522,312 On May 18, 2018, 4,824 shares of common stock were issued to directors as compensation under the 2009 Equity Incentive Plan previously approved by shareholders.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive income (loss) ("AOCI") includes certain items that are reported directly within a separate component of shareholders' equity. The following table presents changes in AOCI balances (dollars in thousands): Nine months ended 2018 2017 Gains and Losses on Cash Flow Hedges Balance at beginning of period $ (480 ) $ (679 ) Other comprehensive income for period: Other comprehensive gain before reclassifications 265 180 Net current period other comprehensive income 265 180 Balance at end of period $ (215 ) $ (499 ) Unrealized Gains and Losses on Available-for-Sale Securities Balance at beginning of period $ 3,126 $ 1,686 Other comprehensive income (loss) for period: Other comprehensive income (loss) before reclassifications (2,459 ) 1,263 Reclassification adjustment - gains on equity securities (2,107 ) — Amounts reclassified from accumulated other comprehensive income (loss) (123 ) (205 ) Net current period other comprehensive income (loss) (4,689 ) 1,058 Balance at end of period $ (1,563 ) $ 2,744 Total Accumulated Other Comprehensive Income (Loss) at end of period $ (1,778 ) $ 2,245 The following table presents the amounts reclassified out of AOCI for the nine months ended September 30, 2018 (dollars in thousands): Details about Accumulated Other Comprehensive Income Components Amounts Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on Available-for-Sale Securities $ 156 Net realized investment gains 156 Total before tax (33 ) Tax (expense) or benefit $ 123 Net of Tax The following table presents the amounts reclassified out of AOCI for the nine months ended September 30, 2017 (dollars in thousands): Details about Accumulated Other Comprehensive Income Components Amounts Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on Available-for-Sale Securities $ 310 Net realized investment gains 310 Total before tax (105 ) Tax (expense) or benefit $ 205 Net of Tax

SEGMENTS

SEGMENTS	9 Months Ended
	Sep. 30, 2018
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
SEGMENTS	SEGMENTS The Company’s property and casualty insurance operations comprise one business segment. The property and casualty insurance segment primarily underwrites home insurance coverage with primary lines of business consisting of dwelling fire and extended coverage, homeowners (including mobile homeowners) and other liability. Management organizes the business utilizing a niche strategy focusing on lower valued dwellings and older homes that can be difficult to insure in the standard insurance market. Our chief decision makers (Chief Executive Officer, Chief Financial Officer and President) review results and operating plans making decisions on resource allocations on a company-wide basis. The Company’s products are primarily produced through independent agents within the states in which we operate. The Company’s life and accident and health operations comprise the second business segment. The life and accident and health insurance segment consists of two lines of business: traditional life insurance and supplemental accident and health insurance. Total assets by industry segment at September 30, 2018 and at December 31, 2017 are summarized below ( dollars in thousands ): Assets by industry segment Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations September 30, 2018 $ 147,720 $ 82,255 $ 59,508 $ 5,957 December 31, 2017 $ 146,438 $ 80,241 $ 60,709 $ 5,488 Premium revenues and operating income by business segment for the three and nine months ended September 30, 2018 and 2017 are summarized below ( dollars in thousands ): Three months ended September 30, 2018 Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations REVENUE Net premiums earned $ 15,445 $ 13,818 $ 1,627 $ — Net investment income 1,020 431 575 14 Net realized investment gains 453 267 186 — Other income 148 147 1 — 17,066 14,663 2,389 14 BENEFITS AND EXPENSES Policyholder benefits paid 9,825 8,610 1,215 — Amortization of deferred policy acquisition costs 782 689 93 — Commissions 2,003 1,932 71 — General and administrative expenses 2,404 1,721 512 171 Taxes, licenses and fees 567 516 51 — Interest expense 306 — 10 296 15,887 13,468 1,952 467 Income (Loss) Before Income Taxes $ 1,179 $ 1,195 $ 437 $ (453 ) Three months ended September 30, 2017 Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations REVENUE Net premiums earned $ 15,467 $ 13,893 $ 1,574 $ — Net investment income 939 417 505 17 Net realized investment gains 75 63 12 — Other income 150 149 1 — 16,631 14,522 2,092 17 BENEFITS AND EXPENSES Policyholder benefits paid 11,184 9,865 1,319 — Amortization of deferred policy acquisition costs 706 694 12 — Commissions 2,096 2,015 81 — General and administrative expenses 2,398 1,634 547 217 Taxes, licenses and fees 709 669 40 — Interest expense 320 — 13 307 17,413 14,877 2,012 524 Income (Loss) Before Income Taxes $ (782 ) $ (355 ) $ 80 $ (507 ) Nine months ended September 30, 2018 Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations REVENUE Net premiums earned $ 45,764 $ 41,060 $ 4,704 $ — Net investment income 2,799 1,120 1,637 42 Net realized investment gains 125 32 93 — Other income 457 455 2 — 49,145 42,667 6,436 42 BENEFITS AND EXPENSES Policyholder benefits paid 29,024 24,837 4,187 — Amortization of deferred policy acquisition costs 2,372 2,069 303 — Commissions 5,795 5,609 186 — General and administrative expenses 7,075 5,127 1,464 484 Taxes, licenses and fees 1,565 1,382 183 — Interest expense 917 — 35 882 46,748 39,024 6,358 1,366 Income (Loss) Before Income Taxes $ 2,397 $ 3,643 $ 78 $ (1,324 ) Nine months ended September 30, 2017 Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations REVENUE Net premiums earned $ 45,838 $ 41,131 $ 4,707 $ — Net investment income 2,795 1,195 1,551 49 Net realized investment gains 312 123 189 — Other income 447 444 3 — 49,392 42,893 6,450 49 BENEFITS AND EXPENSES Policyholder benefits paid 34,911 31,057 3,854 — Amortization of deferred policy acquisition costs 2,470 2,083 387 — Commissions 5,947 5,728 219 — General and administrative expenses 6,410 4,511 1,165 734 Taxes, licenses and fees 1,915 1,736 179 — Interest expense 969 — 52 917 52,622 45,115 5,856 1,651 Income (Loss) Before Income Taxes $ (3,230 ) $ (2,222 ) $ 594 $ (1,602 ) The following table presents the Company’s gross and net premiums written for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2018 and 2017, respectively: Three months ended Nine months ended 2018 2017 2018 2017 Life, accident and health operations premiums written: Traditional life insurance $ 1,083 $ 1,081 $ 3,280 $ 3,319 Accident and health insurance 617 550 1,428 1,379 Gross life, accident and health 1,700 1,631 4,708 4,698 Reinsurance premium ceded (11 ) (23 ) (70 ) (66 ) Net life, accident and health premiums written $ 1,689 $ 1,608 $ 4,638 $ 4,632 Property and Casualty operations premiums written: Dwelling fire & extended coverage $ 9,515 $ 9,427 $ 29,181 $ 28,898 Homeowners (Including mobile homeowners) 5,406 5,651 16,782 17,687 Other liability 557 537 1,716 1,670 Gross property and casualty 15,478 15,615 47,679 48,255 Reinsurance premium ceded (1,738 ) (1,724 ) (4,627 ) (4,533 ) Net property and casualty written $ 13,740 $ 13,891 $ 43,052 $ 43,722 Consolidated gross premiums written $ 17,178 $ 17,246 $ 52,387 $ 52,953 Reinsurance premium ceded (1,749 ) (1,747 ) (4,697 ) (4,599 ) Consolidated net premiums written $ 15,429 $ 15,499 $ 47,690 $ 48,354 The following table presents the Company’s gross and net premiums earned for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2018 and 2017, respectively: Three months ended Nine months ended September 30, 2018 2017 2018 2017 Life, accident and health operations premiums earned: Traditional life insurance $ 1,021 $ 1,049 $ 3,347 $ 3,395 Accident and health insurance 617 548 1,427 1,378 Gross life, accident and health 1,638 1,597 4,774 4,773 Reinsurance premium ceded (11 ) (23 ) (70 ) (66 ) Net life, accident and health premiums earned $ 1,627 $ 1,574 $ 4,704 $ 4,707 Property and Casualty operations premiums earned: Dwelling fire & extended coverage $ 9,403 $ 9,218 $ 27,792 $ 27,066 Homeowners (Including mobile homeowners) 5,449 5,715 16,420 17,179 Other liability 552 532 1,628 1,572 Gross property and casualty 15,404 15,465 45,840 45,817 Reinsurance premium ceded (1,586 ) (1,572 ) (4,780 ) (4,686 ) Net property and casualty earned $ 13,818 $ 13,893 $ 41,060 $ 41,131 Consolidated gross premiums earned $ 17,042 $ 17,062 $ 50,614 $ 50,590 Reinsurance premium ceded (1,597 ) (1,595 ) (4,850 ) (4,752 ) Consolidated net premiums earned $ 15,445 $ 15,467 $ 45,764 $ 45,838

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES In the ordinary course of business, the Company and its subsidiaries are routinely a defendant in or party to pending or threatened legal actions and proceedings related to the conduct of their insurance operations. These suits can involve alleged breaches of contracts, torts, including bad faith and fraud claims based on alleged wrongful or fraudulent acts of the Company's subsidiaries, and other miscellaneous causes of action. It is inherently difficult to predict the outcome of such matters, particularly when the claimant seeks very large or indeterminate damages or when the matters present novel legal theories or involve multiple parties. An accrued liability is established when loss contingencies are both probable and estimable. However, there is potential loss exposure in excess of any accrued amounts. The Company monitors pending matters for further development that could affect the amount of the accrued liability. The Company's property & casualty subsidiaries had one action remaining in Texas filed in the aftermath of Hurricane Ike at September 30, 2018. This is an individual action with allegations of underpayment of a hurricane-related claim. The suit seeks a variety of remedies, including actual and/or punitive damages in unspecified amounts and/or declaratory relief. The Company has reserves set up on litigated claims and the reserves are included in benefit and loss reserves.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Cash paid for interest during the nine months ended September 30, 2018 was $804,000 ( $819,000 in 2017). There was no cash paid for income taxes during the nine months ended September 30, 2018 or 2017. During the nine months ended September 30, 2018, non-cash changes in equity included $5,000 in common stock issued to Directors in lieu of cash compensation along with a corresponding $71,000 increase in additional paid-in capital.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Management has evaluated subsequent events and their potential effects on these consolidated financial statements through the filing date of this Form 10-Q. Subsequent event not recognized due to Hurricane Michael losses - In October of 2018 the Company incurred losses in its property and casualty insurance subsidiary from Hurricane Michael. Loss estimates associated with Hurricane Michael are not recognized in these consolidated financial statements as the event occurred after the date of the consolidated balance sheet presented herein. Managements estimates that gross losses (before reinsurance recoveries) from Hurricane Michael will be in the range of $11,000,000 to $14,000,000 . Net of reinsurance recoveries, management estimates that pretax losses from Hurricane Michael will reduce fourth quarter 2018 pre-tax income by $4,000,000 . Net of tax, it is estimated that net income for the three months and year ended December 31, 2018 will be reduced by $3,160,000 . Since Hurricane Michael occurred subsequent to the date of these financial statements, the financial impact will be recognized in the financial statements presented in the Company's Form 10-K for the fiscal period ended December 31, 2018.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	The accompanying consolidated financial statements include the accounts of The National Security Group, Inc. (the Company) and its wholly-owned subsidiaries: National Security Insurance Company (NSIC), National Security Fire and Casualty Company (NSFC) and NATSCO, Inc. (NATSCO). NSFC includes a wholly-owned subsidiary, Omega One Insurance Company (Omega). The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the consolidated financial statements have been included. All significant intercompany transactions and accounts have been eliminated. The financial information presented herein should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, which includes information and disclosures not presented herein.
Use of 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 date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Among the more significant estimates included in these consolidated financial statements are reserves for future life insurance policy benefits, liabilities for losses and loss adjustment expenses, reinsurance recoverable associated with loss and loss adjustment expense liabilities, deferred policy acquisition costs, deferred income tax assets and liabilities, assessments of other-than-temporary impairments on investments and accruals for contingencies. Actual results could differ from these estimates.
Earnings Per Share	Earnings per share of common stock is based on the weighted average number of shares outstanding during each year. The adjusted weighted average shares outstanding were 2,524,715 at September 30, 2018 and 2,519,798 at September 30, 2017. The Company did not have any dilutive securities as of September 30, 2018 and 2017.
Reclassifications	Certain 2017 amounts have been reclassified from the prior year consolidated financial statements to conform to the 2018 presentation.
Concentration of Credit Risk	The Company maintains cash balances which are generally held in non-interest bearing demand deposit accounts subject to FDIC insured limits of $250,000 per entity. At September 30, 2018 , the net amount exceeding FDIC insured limits was $ 4,019,000 at three financial institutions. The Company has not experienced any losses in such accounts. Management of the Company reviews financial information of financial institutions on a quarterly basis and believes the Company is not exposed to any significant credit risk on cash and cash equivalents. Policy receivables are reported at unpaid balances. Policy receivables are generally offset by associated unearned premium liabilities and are not subject to significant credit risk. Receivables from agents, less provision for credit losses, are composed of balances due from independent agents. At September 30, 2018 , the single largest balance due from one agent totaled $623,000 . Reinsurance contracts do not relieve the Company of its obligations to policyholders. A failure of a reinsurer to meet its obligation could result in losses to the insurance subsidiaries. Allowances for losses on reinsurance recoverables are established if amounts are believed to be uncollectible. At September 30, 2018 and December 31, 2017, no amounts were deemed uncollectible. The Company, at least annually, evaluates the financial condition of all reinsurers and evaluates any potential concentrations of credit risk. At September 30, 2018 , management does not believe the Company is exposed to any significant credit risk related to its reinsurance program.
Accounting Changes Not Yet Adopted and Recently Adopted Accounting Standards	Accounting Changes Not Yet Adopted Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, the Financial Accounting Standards Board (FASB) issued guidance to that removes, modifies and adds to the disclosure requirements related to fair value measurements. The guidance removes the requirements to disclose the amount and reasons for transfers between Level 1 and Level 2 assets, the policy for timing and transfers between levels and the valuation process for Level 3 fair value measurements. The guidance modifies disclosure requirements for investments in certain entities that calculate net asset value and clarifies the purpose of the measurement uncertainty disclosure. The guidance adds requirements to disclose changes in unrealized gains or losses included in other comprehensive income for recurring Level 3 fair value measurements and to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued guidance to improve the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity. The guidance improves timeliness of recognizing changes in the liability for future policy benefits and modifies the rate used to discount future cash flows. The guidance will simplify and improve accounting for certain market-based options or guarantees associated with deposit type contracts and simplify the amortization of deferred policy acquisition costs. The guidance also introduces certain financial statement presentation requirements, as well as significant additional quantitative and qualitative disclosures. The guidance is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of this new guidance. Due to the nature and extent of the changes required to the Company’s life insurance operations, the adoption of this standard is expected to have a material impact on the consolidated financial statements. Improvements to Nonemployee Share-Based Payment Accounting In June 2018, the FASB issued guidance to simplify the accounting for nonemployee share-based payment awards. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year The Company does not make any material share-based payments and does not expect the adoption to have a material impact on its financial position or results of operations. Recognition and Measurement of Financial Assets and Financial Liabilities In February 2018, the FASB issued guidance to address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. The guidance is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years beginning after June 15, 2018. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Leases In February 2016, the FASB issued guidance that requires lessees (for capital and operating leases) to recognize the lease liability and right-of-use asset at the commencement date of the lease. Additional transition guidance was issued in 2018. This guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those years. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Contingent Put and Call Options in Debt Instruments In March 2016, the FASB issued guidance that clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those years. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Financial Instruments - Credit Losses In June 2016, the FASB issued guidance that replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those years. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Receivables - Nonrefundable Fees and Other Costs In March 2017, the FASB issued guidance that shortens the amortization period for certain callable debt securities held at a premium and requires the premium to be amortized to the earliest call date. The guidance is effective for fiscal years beginning after December 15, 2018 and interim reporting periods within those fiscal years. The Company does not expect the adoption of this new guidance to have a significant impact on our financial position, results of operations or cash flows. Derivatives and Hedging In August 2017, the FASB issued guidance that amends and simplifies hedge accounting guidance in order to enable entities to better portray the economic results of their risk management activities. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those periods. Early adoption is permitted. The Company is currently evaluating the impact of the standard on its consolidated financial statements and related disclosures. Recently Adopted Accounting Standards Income Statement - Reporting Comprehensive Income In February 2018, the FASB issued guidance that allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The guidance eliminates the stranded tax effects resulting from the Tax Cuts and Jobs Act and improves the usefulness of information reported to financial statement users. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those periods. Early adoption is permitted. The Company adopted this guidance as of December 31, 2017. The adoption of this guidance resulted in a $435,000 reclassification to accumulated other comprehensive income from retained earnings related to stranded tax effects resulting from the Tax Cuts and Jobs Act. Revenue from Contracts with Customers In May 2014, FASB issued guidance on a comprehensive new revenue recognition standard. This standard will not impact accounting for insurance contracts, leases, financial instruments and guarantees. For those contracts that are impacted by the new guidance, the guidance will require an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to, in exchange for those goods or services. The guidance requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In August 2015, the FASB issued a deferral of the effective date by one year. This guidance is effective retrospectively for fiscal years beginning after December 15, 2017 and interim periods within those years. Early adoption of this standard is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Insurance contracts are specifically scoped out of this new guidance. The Company does not have policy fees or any material services that may be subject to the new revenue recognition guidance. The Company adopted this guidance as of January 1, 2018. The adoption of this guidance did not have an impact on its condensed consolidated financial statements. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued guidance that requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. The guidance requires entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes and requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset. The guidance eliminates the requirement for public companies to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost. This guidance is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The Company adopted this guidance as of January 1, 2018. The adoption of this guidance resulted in a $2,107,000 reclassification to retained earnings from accumulated other comprehensive income related to accumulated unrealized gains on equity securities as well as recognition of a $45,000 loss, net of tax, related to the change in value of equity securities. Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued guidance that clarifies how certain cash receipts and cash payments shall be presented and classified in the statement of cash flows. This guidance addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The guidance is effective for annual and interim reporting periods beginning after December 15, 2017. The Company adopted this guidance as of January 1, 2018. The adoption of this guidance did not have a significant impact on our financial position, results of operations or cash flows. Compensation - Stock Compensation In May 2017, the FASB issued guidance to provide clarity and reduce diversity in practice as well as cost and complexity when there is a change in the terms or conditions of a share-based payment award. The guidance is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The Company adopted this guidance as of January 1, 2018. The adoption of this guidance did not have a significant impact on our financial position, results of operations or cash flows.
Consolidation, Variable Interest Entities	The Company holds a passive interest in a limited partnership that is considered to be a Variable Interest Entity (VIE) under the provisions of ASC 810 Consolidation . The Company is not the primary beneficiary of the entity and is not required to consolidate under ASC 810. The entity is a private placement investment fund formed for the purpose of investing in private equity investments. The Company owns less than 1% of the limited partnership. The carrying value of the investment totals $116,000 and is included as a component of Other Invested Assets in the accompanying condensed consolidated balance sheets.
Marketable Securities	For securities in an unrealized loss position, the Company assesses whether the Company has the intent to sell the security or more-likely-than-not will be required to sell the security before the anticipated recovery. If either of these conditions is met, the Company is required to recognize an other-than-temporary impairment with the entire unrealized loss reported in earnings. For securities in an unrealized loss position that do not meet these conditions, the Company assesses whether the impairment of a security is other-than-temporary. If the impairment is determined to be other-than-temporary, the Company is required to separate the other-than-temporary impairments into two components: the amount representing the credit loss and the amount related to all other factors. The credit loss is the portion of the amortized book value in excess of the net present value of the projected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment. The credit loss component of other-than-temporary impairments is reported in earnings, whereas the amount relating to factors other than credit losses are recorded in other comprehensive income, net of taxes. In evaluating whether or not the equity loss positions were other-than-temporary impairments, Management evaluated financial information on each company and where available, reviewed analyst reports from at least two independent sources.
Fair Values of Financial Instruments	The following methods and assumptions were used to estimate fair value of each class of financial instrument for which it is practical to estimate that value: Cash and cash equivalents — the carrying amount is a reasonable estimate of fair value. Fixed maturities held-to-maturity — the carrying amount is amortized cost; the fair values of the Company’s public fixed maturity securities that are classified as held-to-maturity are generally based on prices obtained from independent pricing services. Mortgage loans — the carrying amount is a reasonable estimate of fair value due to the restrictive nature and limited marketability of the mortgage notes. Policy loans — the carrying amount is a reasonable estimate of fair value. Company owned life insurance — the carrying amount is a reasonable estimate of fair value. Other invested assets — the carrying amount is a reasonable estimate of fair value. Other policyholder funds — the carrying amount is a reasonable estimate of fair value. Debt — the carrying amount is a reasonable estimate of fair value. Our available-for-sale securities consists of fixed maturity and equity securities which are recorded at fair value in the accompanying condensed consolidated balance sheets. The change in the fair value of these investments, unless deemed to be other-than-temporarily impaired, is recorded as a component of other comprehensive income. We are permitted to elect to measure financial instruments and certain other items at fair value, with the change in fair value recorded in earnings. We elected not to measure any eligible items using the fair value option. Accounting standards define fair value as the price that would be received to sell an asset or would be paid to transfer a liability in an orderly transaction between market participants at the measurement date, and establishes a framework to make the measurement of fair value more consistent and comparable. In determining fair value, we primarily use prices and other relevant information generated by market transactions involving identical or comparable assets. The Company categorizes assets and liabilities carried at their fair value based upon a fair value hierarchy: Level 1 – Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 1 assets and liabilities consist of money market fund deposits and certain of our marketable debt and equity instruments, including equity instruments offsetting deferred compensation, that are traded in an active market with sufficient volume and frequency of transactions. Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets include certain of our marketable debt and equity instruments with quoted market prices that are traded in less active markets or priced using a quoted market price for similar instruments. Level 2 assets also include marketable equity instruments with security-specific restrictions that would transfer to the buyer, marketable debt instruments priced using indicator prices which represent non-binding market consensus prices that can be corroborated by observable market quotes, as well as derivative contracts and debt instruments priced using inputs that are observable in the market or can be derived principally from or corroborated by observable market data. Marketable debt instruments in this category generally include commercial paper, bank time deposits, repurchase agreements for fixed-income instruments, and a majority of floating-rate notes, corporate bonds, and municipal bonds. Level 3 - Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. Level 3 assets and liabilities include marketable debt instruments, non-marketable equity investments, derivative contracts, and company issued debt with values are determined using inputs that are both unobservable and significant to the values of the instruments being measured. Level 3 assets also include marketable debt instruments that are priced using indicator prices that we were unable to corroborate with observable market quotes. Marketable debt instruments in this category generally include asset-backed securities and certain floating-rate notes, corporate bonds, and municipal bonds. Fixed maturities available-for-sale — The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent pricing services. Consistent with the fair value hierarchy described above, securities with validated quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Trading securities — Trading securities consist primarily of mutual funds whose fair values are determined consistent with similar instruments described above under “Fixed Maturities” and below under “Equity Securities.” Equity securities — Equity securities consist principally of investments in common and preferred stock of publicly traded companies and privately traded securities. The fair values of our publicly traded equity securities are based on quoted market prices in active markets for identical assets and are classified within Level 1 in the fair value hierarchy. Estimated fair values for our privately traded equity securities require a substantial level of judgment. Privately traded equity securities are classified within Level 3. Interest rate swaps — Interest rate swaps are recorded at fair value either as assets, within other assets or as liabilities, within other liabilities. The fair values of our interest rate swaps are provided by a third-party broker and are classified within Level 3.
Derivatives	The Company is exposed to certain risks in the normal course of its business operations. The primary risk that is managed through the use of derivatives is interest rate risk on floating rate borrowings. This risk is managed through the use of interest rate swap agreements which are designated as cash flow hedges. For cash flow hedges, the effective portion of the gain or loss on the interest rate swap is included as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged transaction is recognized in earnings. The Company does not hold or issue derivatives that are not designated as hedging instruments. We use dollar offset at the hedge's inception and for each reporting period thereafter to assess whether the derivative used in a hedging transaction is expected to be, and has been, effective in offsetting changes in the fair value of the hedged item. Since inception, no portion of the hedged item has been deemed ineffective. For all hedges, we discontinue hedge accounting if it is determined that a derivative is not expected to be, or has ceased to be, effective as a hedge. The swap liability is reported as a component of other liabilities on the condensed consolidated balance sheets.
Reinsurance	Amounts recoverable from re-insurers are estimated in a manner consistent with the claim liability associated with the underlying insurance policies. Amounts paid for prospective reinsurance contracts are reported as prepaid reinsurance premiums and amortized over the remaining contract period. In the normal course of business, NSIC seeks to limit its exposure to loss on any single insured and to recover a portion of benefits paid by ceding reinsurance to reinsurance companies under excess coverage contracts. NSIC retains a maximum of $50,000 of coverage per individual life. Cost is amortized over the reinsurance contract period. The Company's insurance operations utilize reinsurance in the risk management process in order to limit losses, minimize exposure to large risks, provide additional capacity for future growth and effect business-sharing arrangements. Life reinsurance is placed through yearly renewable term coverage. Property and casualty reinsurance is placed on an excess of loss basis to cover losses from catastrophe events. Reinsurance ceded arrangements do not discharge the insurance subsidiaries as the primary insurer, except for cases involving a novation. Failure of re-insurers to honor their obligations could result in losses to the insurance subsidiaries. The insurance subsidiaries evaluate the financial conditions of their reinsurance companies and monitor concentrations of credit risk arising from similar geographic regions, activities, or economic characteristics of the companies to minimize their exposure to significant losses from reinsurance insolvencies. In the normal course of business, NSFC seeks to reduce the loss that may arise from catastrophes or other individually significant large loss events that cause unfavorable underwriting results or have adverse impacts on regulatory capital levels by re-insuring certain levels of risk in various areas of exposure with reinsurance companies. NSFC maintains a catastrophe reinsurance agreement to cover losses from catastrophic events, primarily hurricanes and tropical storms
Business Segment	The Company’s life and accident and health operations comprise the second business segment. The life and accident and health insurance segment consists of two lines of business: traditional life insurance and supplemental accident and health insurance. The Company’s property and casualty insurance operations comprise one business segment. The property and casualty insurance segment primarily underwrites home insurance coverage with primary lines of business consisting of dwelling fire and extended coverage, homeowners (including mobile homeowners) and other liability.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
Investments [Abstract]
Schedule of Amortized Cost and Aggregate Fair Values of Investments in Available-for-Sale Securities	The amortized cost and aggregate fair values of investments in available-for-sale securities as of September 30, 2018 are as follows ( dollars in thousands ): Available-for-sale securities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 39,241 $ 422 $ 1,063 $ 38,600 Mortgage backed securities 14,486 55 694 13,847 Private label asset backed securities 13,762 130 40 13,852 Obligations of states and political subdivisions 11,685 140 182 11,643 U.S. Treasury securities and obligations of U.S. Government corporations and agencies 21,022 18 763 20,277 Total $ 100,196 $ 765 $ 2,742 $ 98,219 The amortized cost and aggregate fair values of investments in available-for-sale securities as of December 31, 2017 are as follows ( dollars in thousands ): Available-for-sale securities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 39,127 $ 1,103 $ 321 $ 39,909 Mortgage backed securities 12,892 177 274 12,795 Private label asset backed securities 10,128 382 — 10,510 Obligations of states and political subdivisions 13,758 389 54 14,093 U.S. Treasury securities and obligations of U.S. Government corporations and agencies 18,562 206 317 18,451 Total fixed maturities 94,467 2,257 966 95,758 Equity securities 1,842 2,667 — 4,509 Total $ 96,309 $ 4,924 $ 966 $ 100,267
Schedule of Held-to-Maturity Securities	The amortized cost and aggregate fair values of investments in held-to-maturity securities as of September 30, 2018 are as follows ( dollars in thousands ): Held-to-maturity securities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Mortgage backed securities $ 1,482 $ 6 $ 34 $ 1,454 Total $ 1,482 $ 6 $ 34 $ 1,454 The amortized cost and aggregate fair values of investments in held-to-maturity securities as of December 31, 2017 are as follows ( dollars in thousands ): Held-to-maturity securities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Mortgage backed securities $ 1,615 $ 29 $ — $ 1,644 U.S. Treasury securities and obligations of U.S. Government corporations and agencies 1 — — 1 Total $ 1,616 $ 29 $ — $ 1,645 A summary of securities held-to-maturity with unrealized losses as of September 30, 2018 along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows: Less than 12 months 12 months or longer Total September 30, 2018 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Total Securities in a Loss Position Fixed maturities: Mortgage backed securities $ 1,044 $ 34 $ — $ — $ 1,044 $ 34 1 $ 1,044 $ 34 $ — $ — $ 1,044 $ 34 1
Schedule of Amortized Cost and Aggregate Fair Value of Debt Securities, by Contractual Maturity	The amortized cost and aggregate fair value of debt securities at September 30, 2018 , by contractual maturity, are presented in the following table ( dollars in thousands ). Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollars in Thousands) Amortized Cost Fair Value Available-for-sale securities: Due in one year or less $ 1,089 $ 1,093 Due after one year through five years 19,620 19,538 Due after five years through ten years 27,204 26,801 Due after ten years 52,283 50,787 Total $ 100,196 $ 98,219 Held-to-maturity securities: Due in one year or less $ — $ — Due after one year through five years 47 49 Due after five years through ten years — — Due after ten years 1,435 1,405 Total $ 1,482 $ 1,454
Schedule of Securities Available-for-Sale with Unrealized Losses	A summary of securities available-for-sale with unrealized losses as of September 30, 2018 , along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows ( dollars in thousands ): Less than 12 months 12 months or longer Total September 30, 2018 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Total Securities in a Loss Position Fixed maturities Corporate debt securities $ 20,029 $ 631 $ 6,906 $ 432 $ 26,935 $ 1,063 49 Mortgage backed securities 7,491 233 4,734 461 12,225 694 29 Private asset backed securities 4,854 40 — — 4,854 40 6 Obligations of state and political subdivisions 3,660 54 3,458 128 7,118 182 15 U.S. Treasury securities and obligations of U.S. Government corporations and agencies 11,243 232 8,442 531 19,685 763 28 $ 47,277 $ 1,190 $ 23,540 $ 1,552 $ 70,817 $ 2,742 127 A summary of securities available-for-sale with unrealized losses as of December 31, 2017 , along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows ( dollars in thousands ): Less than 12 months 12 months or longer Total December 31, 2017 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Total Securities in a Loss Position Fixed maturities Corporate debt securities $ 6,567 $ 166 $ 5,607 $ 155 $ 12,174 $ 321 20 Mortgage backed securities 5,872 124 2,281 150 8,153 274 17 Obligations of state and political subdivisions 2,176 7 2,574 47 4,750 54 9 U.S. Treasury securities and obligations of U.S. Government corporations and agencies 4,878 111 6,667 206 11,545 317 18 $ 19,493 $ 408 $ 17,129 $ 558 $ 36,622 $ 966 64
Summary of Major Categories of Investment Income	Major categories of investment income are summarized as follows (dollars in thousands): Three months ended Nine months ended 2018 2017 2018 2017 Fixed maturities $ 989 $ 860 $ 2,843 $ 2,518 Equity securities 21 24 61 72 Mortgage loans on real estate 2 2 6 7 Investment real estate 1 2 2 4 Policy loans 35 30 105 96 Company owned life insurance change in surrender value 3 38 (133 ) 95 Other 6 14 21 101 1,057 970 2,905 2,893 Less: Investment expenses 37 31 106 98 Net investment income $ 1,020 $ 939 $ 2,799 $ 2,795
Schedule of Realized Investments Gains (Losses)	Major categories of realized investment gains and losses are summarized as follows (dollars in thousands): Three months ended Nine months ended 2018 2017 2018 2017 Fixed maturities $ 27 $ 75 $ 156 $ 310 Change in fair value of equity securities 426 — 57 — Other, principally real estate — — (88 ) 2 Net realized investment gains (losses) $ 453 $ 75 $ 125 $ 312
Schedule of Net Change in Unrealized Appreciation	An analysis of the net change in unrealized gains and losses on available-for-sale securities follows (dollars in thousands): September 30, December 31, 2017 Net change in unrealized gains (losses) on available-for-sale securities before deferred tax $ (3,268 ) $ 1,402 Deferred income tax 686 (476 ) Net change in unrealized gains (losses) on available-for-sale securities $ (2,582 ) $ 926

FAIR VALUE OF FINANCIAL ASSET_2

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 are summarized in the following table by the type of inputs applicable to the fair value measurements (in thousands): Fair Value Measurements at Reporting Date Using Description Total Level 1 Level 2 Level 3 Financial Assets Fixed maturities available-for-sale Corporate debt securities $ 39,909 $ — $ 39,909 $ — Mortgage backed securities 12,795 — 12,795 — Private label asset backed securities 10,510 — 10,510 — Obligations of states and political subdivisions 14,093 — 14,093 — U.S. Treasury securities and obligations of U.S. Government corporations and agencies 18,451 18,451 — — Trading securities 107 107 — — Equity securities available-for-sale 4,509 3,436 — 1,073 Total Financial Assets $ 100,374 $ 21,994 $ 77,307 $ 1,073 Financial Liabilities Interest rate swap $ (608 ) $ — $ — $ (608 ) Total Financial Liabilities $ (608 ) $ — $ — $ (608 ) Financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 are summarized in the following table by the type of inputs applicable to the fair value measurements (in thousands): Fair Value Measurements at Reporting Date Using Description Total Level 1 Level 2 Level 3 Financial Assets Fixed maturities available-for-sale Corporate debt securities $ 38,600 $ — $ 38,600 $ — Mortgage backed securities 13,847 — 13,847 — Private label asset backed securities 13,852 — 13,852 — Obligations of states and political subdivisions 11,643 — 11,643 — U.S. Treasury securities and obligations of U.S. Government corporations and agencies 20,277 20,277 — — Trading securities 107 107 — — Equity securities 4,566 3,454 — 1,112 Total Financial Assets $ 102,892 $ 23,838 $ 77,942 $ 1,112 Financial Liabilities Interest rate swap $ (272 ) $ — $ — $ (272 ) Total Financial Liabilities $ (272 ) $ — $ — $ (272 )
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The table below presents a reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2018 (in thousands): For the nine months ended September 30, 2018 Equity Securities Interest Rate Swap Beginning balance $ 1,073 $ (608 ) Total gains or losses (realized and unrealized): Included in earnings 39 — Included in other comprehensive income — 336 Purchases: — — Sales: — — Issuances: — — Settlements: — — Transfers in/(out) of Level 3 — — Ending balance $ 1,112 $ (272 ) The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held as of September 30, 2018: $ — $ — The table below presents a reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2017 (in thousands): For the year ended December 31, 2017 Equity Securities Available-for-Sale Interest Rate Swap Beginning balance $ 1,258 $ (1,030 ) Total gains or losses (realized and unrealized): Included in earnings — — Included in other comprehensive income 114 422 Purchases: 46 — Sales: (345 ) — Issuances: — — Settlements: — — Transfers in/(out) of Level 3 — — Ending balance $ 1,073 $ (608 ) The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held as of December 31, 2017: $ — $ —
Schedule of Fair Value, by Balance Sheet Grouping	The carrying amount and estimated fair value of the Company’s financial instruments as of September 30, 2018 and December 31, 2017 are as follows (in thousands): September 30, 2018 December 31, 2017 Assets and related instruments Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Held-to-maturity securities $ 1,482 $ 1,454 $ 1,616 $ 1,645 Mortgage loans 158 158 162 162 Policy loans 1,837 1,837 1,810 1,810 Company owned life insurance 4,841 4,841 4,974 4,974 Other invested assets 2,235 2,235 2,574 2,574 Liabilities and related instruments Other policyholder funds 1,494 1,494 1,706 1,706 Short-term notes payable and current portion of long-term debt 800 800 1,300 1,300 Long-term debt 14,348 14,348 14,339 14,339

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Major categories of property and equipment are summarized as follows (dollars in thousands): September 30, 2018 December 31, 2017 Building and improvements $ 3,378 $ 3,378 Electronic data processing equipment 1,518 1,512 Furniture and fixtures 488 486 5,384 5,376 Less accumulated depreciation 3,713 3,595 Property and equipment, net $ 1,671 $ 1,781

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities	The tax effect of significant differences representing deferred tax assets and liabilities are as follows (dollars in thousands): As of September 30, 2018 As of December 31, 2017 General expenses $ 1,096 $ 1,069 Unearned premiums 1,357 1,269 Claims liabilities 479 484 AMT credit 766 1,575 Impairment on real estate owned 116 116 Unrealized losses on securities available-for-sale 415 — Unrealized loss on interest rate swaps 57 128 Deferred tax assets 4,286 4,641 Depreciation (79 ) (88 ) Deferred policy acquisition costs (1,698 ) (1,706 ) Pre-1984 policyholder surplus account (480 ) (529 ) Unrealized gains on securities available-for-sale — (831 ) Unrealized gains on equity securities (572 ) — Deferred tax liabilities (2,829 ) (3,154 ) Net deferred tax asset $ 1,457 $ 1,487
Changes in Temporary Differences in Federal Income Tax	The appropriate income tax effects of changes in temporary differences are as follows (dollars in thousands): Nine months ended 2018 2017 Deferred policy acquisition costs $ (8 ) $ 33 Unearned premiums (88 ) (179 ) General expenses (27 ) (6 ) Depreciation (9 ) — Claims liabilities 5 (36 ) AMT credit 809 (160 ) Impact of repeal of special provision on pre-1984 policyholder surplus (49 ) — Unrealized gains on equity securities 12 — NOL carryforward — (500 ) Deferred income tax expense (benefit) $ 645 $ (848 )
Schedule of Effective Income Tax Rate Reconciliation	Total income tax expense (benefit) varies from amounts computed by applying current federal income tax rates to income or loss before income taxes. The reasons for these differences and the approximate tax effects are as follows: Nine months ended 2018 2017 Federal income tax rate applied to pre-tax income/loss 21.0 % 34.0 % Dividends received deduction and tax-exempt interest (0.9 )% 1.5 % Company owned life insurance 1.2 % 1.0 % Small life deduction — % 10.0 % Other, net 2.2 % (4.5 )% Effective federal income tax rate 23.5 % 42.0 %

NOTES PAYABLE AND LONG-TERM D_2

NOTES PAYABLE AND LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Short-term debt and current portion of long-term debt consisted of the following as of September 30, 2018 and December 31, 2017 ( dollars in thousands) : September 30, December 31, 2018 2017 Current portion of installment note payable due in November with variable interest rate equal to the WSJ prime rate plus 0.5%. Unsecured. $ 800 $ 800 Line of credit with variable interest rate equal to the WSJ prime rate, subject to a 5.0% floor; maturity March 2020 (renewed March 2018). Interest payments due quarterly. Unsecured. — 500 $ 800 $ 1,300
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following as of September 30, 2018 and December 31, 2017 ( dollars in thousands ): September 30, December 31, 2018 2017 Promissory note with variable interest rate equal to the WSJ prime rate plus 0.5%; maturity November 2019. Annual installment payments beginning November 2017 with final balloon payment due November 30, 2019. Unsecured. $ 2,200 $ 2,200 Subordinated debentures issued on December 15, 2005 with floating rate interest equal to 3-Month LIBOR plus 375 basis points; net of $162,000 in debt issuance cost ($168,000 in 2017); maturity December 2035. Interest payable quarterly. Redeemable prior to maturity. Unsecured. 9,117 9,111 Subordinated debentures issued on June 21, 2007 with floating rate interest equal to 3-Month LIBOR plus 340 basis points; net of $62,000 in debt issuance cost ($65,000 in 2017); maturity June 15, 2037. Interest payable quarterly. Redeemable prior to maturity. Unsecured. 3,031 3,028 $ 14,348 $ 14,339

POLICY AND CLAIM RESERVES (Tabl

POLICY AND CLAIM RESERVES (Tables)	9 Months Ended
	Sep. 30, 2018
Insurance [Abstract]
Reconciliation of Policy and Claim Reserves	The following table is a reconciliation of beginning and ending property and casualty reserve balances for claims and claim adjustment expense (dollars in thousands): Nine months ended 2018 2017 Summary of claims and claim adjustment expense reserves Balance, beginning of year $ 7,075 $ 7,531 Less reinsurance recoverable on unpaid losses 327 1,184 Net balances at beginning of year 6,748 6,347 Net losses: Provision for claims and claim adjustment expenses for claims arising in current year 25,460 32,867 Estimated claims and claim adjustment expenses for claims arising in prior years (250 ) (1,355 ) Total increases 25,210 31,512 Claims and claim adjustment expense payments for claims arising in: Current year 20,906 26,275 Prior years 3,592 3,041 Total payments 24,498 29,316 Net balance at end of period 7,460 8,543 Plus reinsurance recoverable on unpaid losses 184 354 Claims and claim adjustment expense reserves at end of period $ 7,644 $ 8,897

REINSURANCE (Tables)

REINSURANCE (Tables)	9 Months Ended
	Sep. 30, 2018
Reinsurance Disclosures [Abstract]
Schedule of Reinsurance	Catastrophe reinsurance coverage is maintained in three layers as follows: Layer Reinsurers' Limits of Liability First Layer 100% of $13,500,000 in excess of $4,000,000 retention Second Layer 100% of $25,000,000 in excess of $17,500,000 Third Layer 100% of $30,000,000 in excess of $42,500,000

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Schedule of Stock by Class	The table below provides information regarding the Company's preferred and common stock as of September 30, 2018 and December 31, 2017 : September 30, 2018 December 31, 2017 Authorized Issued Outstanding Authorized Issued Outstanding Preferred Stock, $1 par value 500,000 — — 500,000 — — Class A Common Stock, $1 par value 2,000,000 — — 2,000,000 — — Common Stock, $1 par value 3,000,000 2,527,136 2,527,136 3,000,000 2,522,312 2,522,312

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents changes in AOCI balances (dollars in thousands): Nine months ended 2018 2017 Gains and Losses on Cash Flow Hedges Balance at beginning of period $ (480 ) $ (679 ) Other comprehensive income for period: Other comprehensive gain before reclassifications 265 180 Net current period other comprehensive income 265 180 Balance at end of period $ (215 ) $ (499 ) Unrealized Gains and Losses on Available-for-Sale Securities Balance at beginning of period $ 3,126 $ 1,686 Other comprehensive income (loss) for period: Other comprehensive income (loss) before reclassifications (2,459 ) 1,263 Reclassification adjustment - gains on equity securities (2,107 ) — Amounts reclassified from accumulated other comprehensive income (loss) (123 ) (205 ) Net current period other comprehensive income (loss) (4,689 ) 1,058 Balance at end of period $ (1,563 ) $ 2,744 Total Accumulated Other Comprehensive Income (Loss) at end of period $ (1,778 ) $ 2,245
Reclassification out of Accumulated Other Comprehensive Income	The following table presents the amounts reclassified out of AOCI for the nine months ended September 30, 2018 (dollars in thousands): Details about Accumulated Other Comprehensive Income Components Amounts Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on Available-for-Sale Securities $ 156 Net realized investment gains 156 Total before tax (33 ) Tax (expense) or benefit $ 123 Net of Tax The following table presents the amounts reclassified out of AOCI for the nine months ended September 30, 2017 (dollars in thousands): Details about Accumulated Other Comprehensive Income Components Amounts Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on Available-for-Sale Securities $ 310 Net realized investment gains 310 Total before tax (105 ) Tax (expense) or benefit $ 205 Net of Tax

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Schedule of Segment Reporting Information, by Segment	Total assets by industry segment at September 30, 2018 and at December 31, 2017 are summarized below ( dollars in thousands ): Assets by industry segment Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations September 30, 2018 $ 147,720 $ 82,255 $ 59,508 $ 5,957 December 31, 2017 $ 146,438 $ 80,241 $ 60,709 $ 5,488 Premium revenues and operating income by business segment for the three and nine months ended September 30, 2018 and 2017 are summarized below ( dollars in thousands ): Three months ended September 30, 2018 Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations REVENUE Net premiums earned $ 15,445 $ 13,818 $ 1,627 $ — Net investment income 1,020 431 575 14 Net realized investment gains 453 267 186 — Other income 148 147 1 — 17,066 14,663 2,389 14 BENEFITS AND EXPENSES Policyholder benefits paid 9,825 8,610 1,215 — Amortization of deferred policy acquisition costs 782 689 93 — Commissions 2,003 1,932 71 — General and administrative expenses 2,404 1,721 512 171 Taxes, licenses and fees 567 516 51 — Interest expense 306 — 10 296 15,887 13,468 1,952 467 Income (Loss) Before Income Taxes $ 1,179 $ 1,195 $ 437 $ (453 ) Three months ended September 30, 2017 Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations REVENUE Net premiums earned $ 15,467 $ 13,893 $ 1,574 $ — Net investment income 939 417 505 17 Net realized investment gains 75 63 12 — Other income 150 149 1 — 16,631 14,522 2,092 17 BENEFITS AND EXPENSES Policyholder benefits paid 11,184 9,865 1,319 — Amortization of deferred policy acquisition costs 706 694 12 — Commissions 2,096 2,015 81 — General and administrative expenses 2,398 1,634 547 217 Taxes, licenses and fees 709 669 40 — Interest expense 320 — 13 307 17,413 14,877 2,012 524 Income (Loss) Before Income Taxes $ (782 ) $ (355 ) $ 80 $ (507 ) Nine months ended September 30, 2018 Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations REVENUE Net premiums earned $ 45,764 $ 41,060 $ 4,704 $ — Net investment income 2,799 1,120 1,637 42 Net realized investment gains 125 32 93 — Other income 457 455 2 — 49,145 42,667 6,436 42 BENEFITS AND EXPENSES Policyholder benefits paid 29,024 24,837 4,187 — Amortization of deferred policy acquisition costs 2,372 2,069 303 — Commissions 5,795 5,609 186 — General and administrative expenses 7,075 5,127 1,464 484 Taxes, licenses and fees 1,565 1,382 183 — Interest expense 917 — 35 882 46,748 39,024 6,358 1,366 Income (Loss) Before Income Taxes $ 2,397 $ 3,643 $ 78 $ (1,324 ) Nine months ended September 30, 2017 Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations REVENUE Net premiums earned $ 45,838 $ 41,131 $ 4,707 $ — Net investment income 2,795 1,195 1,551 49 Net realized investment gains 312 123 189 — Other income 447 444 3 — 49,392 42,893 6,450 49 BENEFITS AND EXPENSES Policyholder benefits paid 34,911 31,057 3,854 — Amortization of deferred policy acquisition costs 2,470 2,083 387 — Commissions 5,947 5,728 219 — General and administrative expenses 6,410 4,511 1,165 734 Taxes, licenses and fees 1,915 1,736 179 — Interest expense 969 — 52 917 52,622 45,115 5,856 1,651 Income (Loss) Before Income Taxes $ (3,230 ) $ (2,222 ) $ 594 $ (1,602 )
Schedule of Gross and Net Premiums Written	The following table presents the Company’s gross and net premiums written for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2018 and 2017, respectively: Three months ended Nine months ended 2018 2017 2018 2017 Life, accident and health operations premiums written: Traditional life insurance $ 1,083 $ 1,081 $ 3,280 $ 3,319 Accident and health insurance 617 550 1,428 1,379 Gross life, accident and health 1,700 1,631 4,708 4,698 Reinsurance premium ceded (11 ) (23 ) (70 ) (66 ) Net life, accident and health premiums written $ 1,689 $ 1,608 $ 4,638 $ 4,632 Property and Casualty operations premiums written: Dwelling fire & extended coverage $ 9,515 $ 9,427 $ 29,181 $ 28,898 Homeowners (Including mobile homeowners) 5,406 5,651 16,782 17,687 Other liability 557 537 1,716 1,670 Gross property and casualty 15,478 15,615 47,679 48,255 Reinsurance premium ceded (1,738 ) (1,724 ) (4,627 ) (4,533 ) Net property and casualty written $ 13,740 $ 13,891 $ 43,052 $ 43,722 Consolidated gross premiums written $ 17,178 $ 17,246 $ 52,387 $ 52,953 Reinsurance premium ceded (1,749 ) (1,747 ) (4,697 ) (4,599 ) Consolidated net premiums written $ 15,429 $ 15,499 $ 47,690 $ 48,354
Schedule of Gross and Net Premiums Earned	The following table presents the Company’s gross and net premiums earned for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2018 and 2017, respectively: Three months ended Nine months ended September 30, 2018 2017 2018 2017 Life, accident and health operations premiums earned: Traditional life insurance $ 1,021 $ 1,049 $ 3,347 $ 3,395 Accident and health insurance 617 548 1,427 1,378 Gross life, accident and health 1,638 1,597 4,774 4,773 Reinsurance premium ceded (11 ) (23 ) (70 ) (66 ) Net life, accident and health premiums earned $ 1,627 $ 1,574 $ 4,704 $ 4,707 Property and Casualty operations premiums earned: Dwelling fire & extended coverage $ 9,403 $ 9,218 $ 27,792 $ 27,066 Homeowners (Including mobile homeowners) 5,449 5,715 16,420 17,179 Other liability 552 532 1,628 1,572 Gross property and casualty 15,404 15,465 45,840 45,817 Reinsurance premium ceded (1,586 ) (1,572 ) (4,780 ) (4,686 ) Net property and casualty earned $ 13,818 $ 13,893 $ 41,060 $ 41,131 Consolidated gross premiums earned $ 17,042 $ 17,062 $ 50,614 $ 50,590 Reinsurance premium ceded (1,597 ) (1,595 ) (4,850 ) (4,752 ) Consolidated net premiums earned $ 15,445 $ 15,467 $ 45,764 $ 45,838

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Earnings Per Share) (Details) - shares	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Accounting Policies [Abstract]
Weighted average number of shares outstanding	2,524,715	2,519,798

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Concentration of Credit Risk) (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Cash, uninsured amount	$ 4,019,000
Concentration Risk [Line Items]
Policy receivables and agents' balances, net	12,655,000	$ 11,653,000
Single Largest Agent Balance Due
Concentration Risk [Line Items]
Policy receivables and agents' balances, net	$ 623,000

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES (Recently Adopted Accounting Standards) (Details)	9 Months Ended
	Sep. 30, 2018USD ($)
Accounting Policies [Abstract]
Reclassification from AOCI to retained earnings	$ 435,000
Equity securities, unrealized loss	(45,000)
Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification adjustment - gains on equity securities	$ 2,107,000

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Thousands	1 Months Ended		9 Months Ended
	Jun. 30, 2007	Dec. 31, 2005	Sep. 30, 2018
Variable Interest Entity [Line Items]
Carrying amount of investments			$ 116
Trust Preferred Security Offering, 2005
Variable Interest Entity [Line Items]
Payments to acquire trust preferred securities		$ 9,000
Subordinated debt		9,279
Proceeds from issuance of trust preferred securities		9,005
Equity investment		$ 279
Trust Preferred Security Offering, 2007
Variable Interest Entity [Line Items]
Payments to acquire trust preferred securities	$ 3,000
Proceeds from issuance of trust preferred securities	2,995
Equity investment	93
Trust Preferred Security Offering, 2007 | Unsecured Debt
Variable Interest Entity [Line Items]
Subordinated debt	$ 3,093
Maximum
Variable Interest Entity [Line Items]
Limited partnership, percent owned			1.00%

INVESTMENTS (Narrative) (Detail

INVESTMENTS (Narrative) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Gain (Loss) on Investments [Line Items]
Held-to-maturity securities, unrecognized holding loss		$ 0
Other-than-temporary impairments, available-for-sale securities	$ 0	0
Single largest loss position	108,000	75,000
Second largest loss position	108,000	60,000
Third largest loss position	$ 108,000	$ 53,000
Maximum
Gain (Loss) on Investments [Line Items]
Percent of investment portfolio below investment grade	5.75%

INVESTMENTS (Available-for-Sale

INVESTMENTS (Available-for-Sale Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 100,196	$ 96,309
Gross Unrealized Gains	765	4,924
Gross Unrealized Losses	2,742	966
Fair Value	98,219	100,267
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	39,241	39,127
Gross Unrealized Gains	422	1,103
Gross Unrealized Losses	1,063	321
Fair Value	38,600	39,909
Mortgage backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	14,486	12,892
Gross Unrealized Gains	55	177
Gross Unrealized Losses	694	274
Fair Value	13,847	12,795
Private label asset backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	13,762	10,128
Gross Unrealized Gains	130	382
Gross Unrealized Losses	40	0
Fair Value	13,852	10,510
Obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	11,685	13,758
Gross Unrealized Gains	140	389
Gross Unrealized Losses	182	54
Fair Value	11,643	14,093
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	21,022	18,562
Gross Unrealized Gains	18	206
Gross Unrealized Losses	763	317
Fair Value	$ 20,277	18,451
Total fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		94,467
Gross Unrealized Gains		2,257
Gross Unrealized Losses		966
Fair Value		95,758
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		1,842
Gross Unrealized Gains		2,667
Gross Unrealized Losses		0
Fair Value		$ 4,509

INVESTMENTS (Held-to-Maturity S

INVESTMENTS (Held-to-Maturity Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 1,482	$ 1,616
Held-to-maturity securities, unrealized gains	6	29
Held-to-maturity securities, unrealized losses	34	0
Fair Value	1,454	1,645
Mortgage backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	1,482	1,615
Held-to-maturity securities, unrealized gains	6	29
Held-to-maturity securities, unrealized losses	34	0
Fair Value	$ 1,454	1,644
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		1
Held-to-maturity securities, unrealized gains		0
Held-to-maturity securities, unrealized losses		0
Fair Value		$ 1

INVESTMENTS (Amortized Cost and

INVESTMENTS (Amortized Cost and Aggregate Fair Value of Debt Securities, by Contractual Maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Investments [Abstract]
Available-for-sale Securities, Due in one year or less, Amortized Cost	$ 1,089
Available-for-sale Securities, Due in one year or less, Fair Value	1,093
Available-for-sale Securities, Due after one year through five years, Amortized Cost	19,620
Available-for-sale Securities, Due after one year through five years, Fair Value	19,538
Available-for-sale Securities, Due after five years through ten years, Amortized Cost	27,204
Available-for-sale Securities, Due after five years through ten years, Fair Value	26,801
Available-for-sale Securities, Due after ten years, Amortized Cost	52,283
Available-for-sale Securities, Due after ten years, Fair Value	50,787
Available-for-sale securities, Amortized Cost	100,196	$ 94,467
Available-for-sale Securities, Fair Value	98,219
Held-to-maturity Securities, Due in one year or less, Amortized Cost	0
Held-to-maturity Securities, Due in one year or less, Fair Value	0
Held-to-maturity Securities, Due after one year through five years, Amortized Cost	47
Held-to-maturity Securities, Due after one year through five years, Fair Value	49
Held-to-maturity Securities, Due after five years through ten years, Amortized Cost	0
Held-to-maturity Securities, Due after five years through ten years, Fair Value	0
Held-to-maturity Securities, Due after ten years, Amortized Cost	1,435
Held-to-maturity Securities, Due after ten years, Fair Value	1,405
Held-to-maturity Securities, Amortized Cost	1,482	1,616
Held-to-maturity Securities, Fair Value	$ 1,454	$ 1,645

INVESTMENTS (Schedule of Contin

INVESTMENTS (Schedule of Continuous Losses) (Details) $ in Thousands	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	$ 47,277	$ 19,493
Less than 12 Months, Gross Unrealized Losses	1,190	408
12 Months or Longer, Fair Value	23,540	17,129
12 Months or Longer, Gross Unrealized Losses	1,552	558
Total Fair Value	70,817	36,622
Total Gross Unrealized Losses	$ 2,742	$ 966
Total Securities in a Loss Position	127	64
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	$ 20,029	$ 6,567
Less than 12 Months, Gross Unrealized Losses	631	166
12 Months or Longer, Fair Value	6,906	5,607
12 Months or Longer, Gross Unrealized Losses	432	155
Total Fair Value	26,935	12,174
Total Gross Unrealized Losses	$ 1,063	$ 321
Total Securities in a Loss Position	49	20
Mortgage backed securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	$ 7,491	$ 5,872
Less than 12 Months, Gross Unrealized Losses	233	124
12 Months or Longer, Fair Value	4,734	2,281
12 Months or Longer, Gross Unrealized Losses	461	150
Total Fair Value	12,225	8,153
Total Gross Unrealized Losses	$ 694	$ 274
Total Securities in a Loss Position	29	17
Private label asset backed securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	$ 4,854
Less than 12 Months, Gross Unrealized Losses	40
12 Months or Longer, Fair Value	0
12 Months or Longer, Gross Unrealized Losses	0
Total Fair Value	4,854
Total Gross Unrealized Losses	$ 40
Total Securities in a Loss Position	6
Obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	$ 3,660	$ 2,176
Less than 12 Months, Gross Unrealized Losses	54	7
12 Months or Longer, Fair Value	3,458	2,574
12 Months or Longer, Gross Unrealized Losses	128	47
Total Fair Value	7,118	4,750
Total Gross Unrealized Losses	$ 182	$ 54
Total Securities in a Loss Position	15	9
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	$ 11,243	$ 4,878
Less than 12 Months, Gross Unrealized Losses	232	111
12 Months or Longer, Fair Value	8,442	6,667
12 Months or Longer, Gross Unrealized Losses	531	206
Total Fair Value	19,685	11,545
Total Gross Unrealized Losses	$ 763	$ 317
Total Securities in a Loss Position	28	18

INVESTMENTS (Held-to-Maturity,

INVESTMENTS (Held-to-Maturity, Unrealized Losses) (Details) $ in Thousands	Sep. 30, 2018USD ($)
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 Months, Fair Value	$ 1,044
Less than 12 Months, Gross Unrealized Losses	34
12 Months or Longer, Fair Value	0
12 Months or Longer, Gross Unrealized Losses	0
Total Fair Value	1,044
Total Gross Unrealized Losses	$ 34
Total Securities in a Loss Position	1
Mortgage backed securities
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 Months, Fair Value	$ 1,044
Less than 12 Months, Gross Unrealized Losses	34
12 Months or Longer, Fair Value	0
12 Months or Longer, Gross Unrealized Losses	0
Total Fair Value	1,044
Total Gross Unrealized Losses	$ 34
Total Securities in a Loss Position	1

INVESTMENTS (Major Categories o

INVESTMENTS (Major Categories of Investment Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Gross investment income	$ 1,057	$ 970	$ 2,905	$ 2,893
Less: Investment expenses	37	31	106	98
Net investment income	1,020	939	2,799	2,795
Fixed maturities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Gross investment income	989	860	2,843	2,518
Equity securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Gross investment income	21	24	61	72
Mortgage loans on real estate
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Gross investment income	2	2	6	7
Investment real estate
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Gross investment income	1	2	2	4
Policy loans
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Gross investment income	35	30	105	96
Company owned life insurance change in surrender value
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Gross investment income	3	38	(133)	95
Other
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Gross investment income	$ 6	$ 14	$ 21	$ 101

INVESTMENTS (Major Categories_2

INVESTMENTS (Major Categories of Investment Gains and Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Gain (Loss) on Investments [Line Items]
Net realized investment gains	$ 453	$ 75	$ 125	$ 312
Fixed maturities
Gain (Loss) on Investments [Line Items]
Net realized investment gains	27	75	156	310
Change in fair value of equity securities
Gain (Loss) on Investments [Line Items]
Net realized investment gains	426	0	57	0
Other, principally real estate
Gain (Loss) on Investments [Line Items]
Net realized investment gains	$ 0	$ 0	$ (88)	$ 2

INVESTMENTS (Schedule of Unreal

INVESTMENTS (Schedule of Unrealized Appreciation) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Investments [Abstract]
Net change in unrealized gains (losses) on available-for-sale securities before deferred tax	$ (3,268)	$ 1,402
Deferred income tax	686	(476)
Net change in unrealized gains (losses) on available-for-sale securities	$ (2,582)	$ 926

FAIR VALUE OF FINANCIAL ASSET_3

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Narrative) (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair value measurements of assets	$ 1,112,000
Fair value measurements of liabilities	(272,000)
Assets measured at fair values on a nonrecurring basis	0	$ 0
Liabilities measured at fair values on a nonrecurring basis	$ 0	$ 0

FAIR VALUE OF FINANCIAL ASSET_4

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Assets/Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	$ 98,219	$ 100,267
Trading securities	107	107
Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Assets	102,892	100,374
Total Financial Liabilities	(272)	(608)
Recurring Basis | Financial Liabilities | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities	(272)	(608)
Recurring Basis | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	38,600	39,909
Recurring Basis | Mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	13,847	12,795
Recurring Basis | Private label asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	13,852	10,510
Recurring Basis | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	11,643	14,093
Recurring Basis | U.S. Treasury securities and obligations of U.S. Government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	20,277	18,451
Recurring Basis | Trading securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	107	107
Recurring Basis | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	4,566	4,509
Recurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Assets	23,838	21,994
Total Financial Liabilities	0	0
Recurring Basis | Level 1 | Financial Liabilities | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities	0	0
Recurring Basis | Level 1 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	0	0
Recurring Basis | Level 1 | Mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	0	0
Recurring Basis | Level 1 | Private label asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	0	0
Recurring Basis | Level 1 | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	0	0
Recurring Basis | Level 1 | U.S. Treasury securities and obligations of U.S. Government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	20,277	18,451
Recurring Basis | Level 1 | Trading securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	107	107
Recurring Basis | Level 1 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	3,454	3,436
Recurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Assets	77,942	77,307
Total Financial Liabilities	0	0
Recurring Basis | Level 2 | Financial Liabilities | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities	0	0
Recurring Basis | Level 2 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	38,600	39,909
Recurring Basis | Level 2 | Mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	13,847	12,795
Recurring Basis | Level 2 | Private label asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	13,852	10,510
Recurring Basis | Level 2 | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	11,643	14,093
Recurring Basis | Level 2 | U.S. Treasury securities and obligations of U.S. Government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	0	0
Recurring Basis | Level 2 | Trading securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Recurring Basis | Level 2 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	0	0
Recurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Assets	1,112	1,073
Total Financial Liabilities	(272)	(608)
Recurring Basis | Level 3 | Financial Liabilities | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities	(272)	(608)
Recurring Basis | Level 3 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	0	0
Recurring Basis | Level 3 | Mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	0	0
Recurring Basis | Level 3 | Private label asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	0	0
Recurring Basis | Level 3 | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	0	0
Recurring Basis | Level 3 | U.S. Treasury securities and obligations of U.S. Government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	0	0
Recurring Basis | Level 3 | Trading securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Recurring Basis | Level 3 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities available-for-sale	$ 1,112	$ 1,073

FAIR VALUE OF FINANCIAL ASSET_5

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Level 3 Reconciliation) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Equity Securities
Ending balance	$ 1,112
Interest Rate Swap
Ending balance	(272)
Recurring Basis | Interest rate swap
Interest Rate Swap
Beginning balance	(608)	$ (1,030)
Included in earnings	0	0
Included in other comprehensive income	336	422
Purchases:	0	0
Sales:	0	0
Issuances:	0	0
Settlements:	0	0
Transfers in/(out) of Level 3	0	0
Ending balance	(272)
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held	0	0
Recurring Basis | Total fixed maturities
Equity Securities
Beginning balance:	1,073	1,258
Included in earnings	39	0
Included in other comprehensive income	0	114
Purchases:	0	46
Sales:	0	(345)
Issuances:	0	0
Settlements:	0	0
Transfers in/(out) of Level 3	0	0
Ending balance	1,112
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held	$ 0	$ 0

FAIR VALUE OF FINANCIAL ASSET_6

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Fair Value of Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Other policyholder funds
Liabilities and Related Instruments [Abstract]
Carrying Value, Liabilities	$ 1,494	$ 1,706
Estimated Fair Value, Liabilities	1,494	1,706
Short-term notes payable and current portion of long-term debt
Liabilities and Related Instruments [Abstract]
Carrying Value, Liabilities	800	1,300
Estimated Fair Value, Liabilities	800	1,300
Long-term debt
Liabilities and Related Instruments [Abstract]
Carrying Value, Liabilities	14,348	14,339
Estimated Fair Value, Liabilities	14,348	14,339
Held-to-maturity securities
Assets and Related Instruments [Abstract]
Carrying Value, Assets	1,482	1,616
Estimated Fair Value, Assets	1,454	1,645
Mortgage loans on real estate
Assets and Related Instruments [Abstract]
Carrying Value, Assets	158	162
Estimated Fair Value, Assets	158	162
Policy loans
Assets and Related Instruments [Abstract]
Carrying Value, Assets	1,837	1,810
Estimated Fair Value, Assets	1,837	1,810
Company owned life insurance
Assets and Related Instruments [Abstract]
Carrying Value, Assets	4,841	4,974
Estimated Fair Value, Assets	4,841	4,974
Other invested assets
Assets and Related Instruments [Abstract]
Carrying Value, Assets	2,235	2,574
Estimated Fair Value, Assets	$ 2,235	$ 2,574

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,384	$ 5,376
Less accumulated depreciation	3,713	3,595
Property and equipment, net	1,671	1,781
Depreciation expense	119	121
Building and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,378	3,378
Electronic data processing equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,518	1,512
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 488	$ 486

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Net deferred tax asset position	$ 1,457	$ 1,487

INCOME TAXES (Deferred Tax Asse

INCOME TAXES (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
General expenses	$ 1,096	$ 1,069
Unearned premiums	1,357	1,269
Claims liabilities	479	484
AMT Credit	766	1,575
Impairment on real estate owned	116	116
Unrealized losses on securities available-for-sale	415	0
Unrealized loss on interest rate swaps	57	128
Deferred tax assets	4,286	4,641
Depreciation	(79)	(88)
Deferred policy acquisition costs	(1,698)	(1,706)
Pre-1984 policyholder surplus account	(480)	(529)
Unrealized gains on securities available-for-sale	0	(831)
Unrealized gains on equity securities	(572)	0
Deferred tax liabilities	(2,829)	(3,154)
Net deferred tax asset	$ 1,457	$ 1,487

INCOME TAXES (Schedule of Inco

INCOME TAXES (Schedule of Income Tax Effects of Changes in Temporary Differences) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Deferred policy acquisition costs			$ (8)	$ 33
Unearned premiums			(88)	(179)
General expenses			(27)	(6)
Depreciation			(9)	0
Claims liabilities			5	(36)
AMT credit			809	(160)
Impact of repeal of special provision on pre-1984 policyholder surplus			(49)	0
Unrealized gains on equity securities			12	0
NOL carryforward			0	(500)
Deferred income tax expense (benefit)	$ 37	$ (612)	$ 645	$ (848)

INCOME TAXES (Schedule of Effec

INCOME TAXES (Schedule of Effective Income Tax Rate Reconciliation) (Details)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Federal income tax rate applied to pre-tax income/loss	21.00%	34.00%
Dividends received deduction and tax-exempt interest	(0.90%)	1.50%
Company owned life insurance	1.20%	1.00%
Small life deduction	(0.00%)	10.00%
Other, net	2.20%	(4.50%)
Effective federal income tax rate	23.50%	42.00%

NOTES PAYABLE AND LONG-TERM D_3

NOTES PAYABLE AND LONG-TERM DEBT (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2010	May 26, 2010	Dec. 31, 2009	Mar. 19, 2009
Debt Instrument [Line Items]
Derivative, notional amount							$ 9,000,000		$ 3,000,000
Derivative, fixed interest rate							8.49%		7.02%
Cash flow hedge, derivative instrument liabilities at fair value	$ 272,000		$ 272,000		$ 608,000
Unrealized gain on interest rate swap	58,000	$ 70,000	265,000	$ 180,000	278,000
Securities on deposit	918,000		918,000
Available-for-sale securities pledged as collateral	$ 918,000		$ 918,000		$ 1,446,000
Interest rate swap
Debt Instrument [Line Items]
Cash flow hedge, liability at fair value								$ 17,000
Cash flow hedging
Debt Instrument [Line Items]
Cash flow hedge, liability at fair value						$ 255,000

NOTES PAYABLE AND LONG-TERM D_4

NOTES PAYABLE AND LONG-TERM DEBT (Short-Term Debt) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Short-term Debt [Line Items]
Short-term notes payable and current portion of long-term debt	$ 800	$ 1,300
Notes Payable to Banks | Unsecured Debt
Short-term Debt [Line Items]
Short-term notes payable and current portion of long-term debt	$ 800	800
Interest rate description	WSJ
Basis spread on variable rate	0.50%
Line of Credit | Unsecured Debt
Short-term Debt [Line Items]
Short-term notes payable and current portion of long-term debt	$ 0	$ 500
Interest rate description		WSJ
Basis spread on variable rate		0.50%

NOTES PAYABLE AND LONG-TERM D_5

NOTES PAYABLE AND LONG-TERM DEBT (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 21, 2007	Dec. 15, 2005	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term debt			$ 14,348	$ 14,339
Unsecured Debt | Promissory Note due November 2019
Debt Instrument [Line Items]
Long-term debt			$ 2,200	2,200
Payment terms			Annual installment payments
Unsecured Debt | Promissory Note due November 2019 | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate			5.00%
Unsecured Debt | Trust Preferred Security Offering, 2005
Debt Instrument [Line Items]
Long-term debt			$ 9,117	9,111
Payment terms			Interest payments due quarterly
Debt issuance costs, net			$ 162	168
Unsecured Debt | Trust Preferred Security Offering, 2005 | Three-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		3.75%
Unsecured Debt | Trust Preferred Security Offering, 2007
Debt Instrument [Line Items]
Long-term debt			$ 3,031	3,028
Payment terms			Interest payments due quarterly
Debt issuance costs, net			$ 62	$ 65
Unsecured Debt | Trust Preferred Security Offering, 2007 | Three-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	3.40%

POLICY AND CLAIM RESERVES (Narr

POLICY AND CLAIM RESERVES (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Insurance [Abstract]
Estimated claims and claim adjustment expenses for claims arising in prior years	$ 250,000	$ 1,355,000
Reserve for unpaid claims	372,000		$ 367,000
Policy and contract claims	$ 826,000		$ 903,000

POLICY AND CLAIM RESERVES (Prop

POLICY AND CLAIM RESERVES (Property and Casualty Reserve) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Less reinsurance recoverable on unpaid losses	$ 212		$ 366
Net losses:
Estimated claims and claim adjustment expenses for claims arising in prior years	(250)	$ (1,355)
Consolidated Property and Casualty Insurance Entity
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balance, beginning of year	7,644	8,897	7,075	$ 7,531
Less reinsurance recoverable on unpaid losses	184	354	327	1,184
Net balances at beginning of year	7,460	8,543	$ 6,748	$ 6,347
Net losses:
Provision for claims and claim adjustment expenses for claims arising in current year	25,460	32,867
Estimated claims and claim adjustment expenses for claims arising in prior years	(250)	(1,355)
Total increases	25,210	31,512
Claims and claim adjustment expense payments for claims arising in:
Current year	20,906	26,275
Prior years	3,592	3,041
Total payments	$ 24,498	$ 29,316

REINSURANCE (Details)

REINSURANCE (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Reinsurance Maintained by Layers [Line Items]
Catastrophe reinsurance retention	$ 4,000,000
Life insurance policy reinsurance limit	50,000
Reinsurance recoverable	212,000	$ 366,000
Single Reinsurer
Reinsurance Maintained by Layers [Line Items]
Reinsurance recoverable	$ 318,000	$ 322,000
First Layer
Reinsurance Maintained by Layers [Line Items]
Percent of reinsured losses covered by layer	100.00%
Covered losses	$ 13,500,000
Reinsurer's limit of liability	$ 17,500,000
Second Layer
Reinsurance Maintained by Layers [Line Items]
Percent of reinsured losses covered by layer	100.00%
Covered losses	$ 25,000,000
Reinsurer's limit of liability	$ 42,500,000
Third Layer
Reinsurance Maintained by Layers [Line Items]
Percent of reinsured losses covered by layer	100.00%
Covered losses	$ 30,000,000
Reinsurer's limit of liability	$ 72,500,000

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details)	9 Months Ended
	Sep. 30, 2018USD ($)hours	Sep. 30, 2017USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Minimum hours of service completed in year of contribution | hours	1,000
Matching contribution	$ 135,000	$ 144,000
Employer matching contribution, percent	5.00%
Cash contributions to ESOP	$ 232,000	268,000
ESOP debt structure	0
Non-Qualified Deferred Compensation Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred compensation arrangement	$ 128,000	$ 215,000
Executive Officers
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer matching contribution, percent	15.00%

SHAREHOLDERS' EQUITY (Narrative

SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($) $ in Thousands	May 18, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Net income (loss)		$ 907	$ (557)	$ 1,835	$ (1,872)	$ 1,203
Dividends paid				(379)		(504)
Other comprehensive income, net of tax		$ (337)	$ 282	$ (2,317)	$ 1,238	$ 1,204
Common Stock | Directors
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Stock issued	4,824

SHAREHOLDERS' EQUITY (Preferred

SHAREHOLDERS' EQUITY (Preferred and Common Stock) (Details) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	3,000,000	3,000,000
Common stock, shares issued	2,527,136	2,522,312
Common stock, shares outstanding	2,527,136	2,522,312
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	2,000,000	2,000,000
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Changes in AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ 2,646
Other comprehensive income (loss), net of tax	$ (337)	$ 282	(2,317)	$ 1,238	$ 1,204
Ending balance	(1,778)	2,245	(1,778)	2,245	2,646
Gains and Losses on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(480)	(679)	(679)
Other comprehensive gain before reclassifications			265	180
Other comprehensive income (loss), net of tax			265	180
Ending balance	(215)	(499)	(215)	(499)	(480)
Unrealized Gains and Losses on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			3,126	1,686	1,686
Other comprehensive gain before reclassifications			(2,459)	1,263
Reclassification adjustment - gains on equity securities			(2,107)	0
Amounts reclassified from accumulated other comprehensive income (loss)			(123)	(205)
Other comprehensive income (loss), net of tax			(4,689)	1,058
Ending balance	$ (1,563)	$ 2,744	$ (1,563)	$ 2,744	$ 3,126

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Amounts reclassified out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Net realized investment gains	$ 453	$ 75	$ 125	$ 312
Tax (expense) or benefit	(272)	225	(562)	1,358
Net Income (Loss)	$ 907	$ (557)	1,835	(1,872)	$ 1,203
Amounts Reclassified from Accumulated Other Comprehensive Income | Unrealized Gains and Losses on Available-for-Sale Securities
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Net realized investment gains			156	310
Total before tax			156	310
Tax (expense) or benefit			(33)	(105)
Net Income (Loss)			$ 123	$ 205

SEGMENTS (Narrative) (Details)

SEGMENTS (Narrative) (Details)	9 Months Ended
	Sep. 30, 2018Segments
Segment Reporting [Abstract]
Number of operating segments	1

SEGMENTS (Schedule of Segment R

SEGMENTS (Schedule of Segment Reporting Information, by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Assets	$ 147,720		$ 147,720		$ 146,438
Net premiums earned	15,445	$ 15,467	45,764	$ 45,838
Net investment income	1,020	939	2,799	2,795
Net realized investment gains	453	75	125	312
Other income	148	150	457	447
Total Revenues	17,066	16,631	49,145	49,392
Policyholder benefits paid	9,825	11,184	29,024	34,911
Amortization of deferred policy acquisition costs	782	706	2,372	2,470
Commissions	2,003	2,096	5,795	5,947
General and administrative expenses	2,404	2,398	7,075	6,410
Taxes, licenses and fees	567	709	1,565	1,915
Interest expense	306	320	917	969
Total Benefits, Losses and Expenses	15,887	17,413	46,748	52,622
Income (Loss) Before Income Taxes	1,179	(782)	2,397	(3,230)
P&C Insurance Operations
Segment Reporting Information [Line Items]
Assets	82,255		82,255		80,241
Net premiums earned	13,818	13,893	41,060	41,131
Net investment income	431	417	1,120	1,195
Net realized investment gains	267	63	32	123
Other income	147	149	455	444
Total Revenues	14,663	14,522	42,667	42,893
Policyholder benefits paid	8,610	9,865	24,837	31,057
Amortization of deferred policy acquisition costs	689	694	2,069	2,083
Commissions	1,932	2,015	5,609	5,728
General and administrative expenses	1,721	1,634	5,127	4,511
Taxes, licenses and fees	516	669	1,382	1,736
Interest expense	0	0	0	0
Total Benefits, Losses and Expenses	13,468	14,877	39,024	45,115
Income (Loss) Before Income Taxes	1,195	(355)	3,643	(2,222)
Life Insurance Operations
Segment Reporting Information [Line Items]
Assets	59,508		59,508		60,709
Net premiums earned	1,627	1,574	4,704	4,707
Net investment income	575	505	1,637	1,551
Net realized investment gains	186	12	93	189
Other income	1	1	2	3
Total Revenues	2,389	2,092	6,436	6,450
Policyholder benefits paid	1,215	1,319	4,187	3,854
Amortization of deferred policy acquisition costs	93	12	303	387
Commissions	71	81	186	219
General and administrative expenses	512	547	1,464	1,165
Taxes, licenses and fees	51	40	183	179
Interest expense	10	13	35	52
Total Benefits, Losses and Expenses	1,952	2,012	6,358	5,856
Income (Loss) Before Income Taxes	437	80	78	594
Non-Insurance Operations
Segment Reporting Information [Line Items]
Assets	5,957		5,957		$ 5,488
Net premiums earned	0	0	0	0
Net investment income	14	17	42	49
Net realized investment gains	0	0	0	0
Other income	0	0	0	0
Total Revenues	14	17	42	49
Policyholder benefits paid	0	0	0	0
Amortization of deferred policy acquisition costs	0	0	0	0
Commissions	0	0	0	0
General and administrative expenses	171	217	484	734
Taxes, licenses and fees	0	0	0	0
Interest expense	296	307	882	917
Total Benefits, Losses and Expenses	467	524	1,366	1,651
Income (Loss) Before Income Taxes	$ (453)	$ (507)	$ (1,324)	$ (1,602)

SEGMENTS (Schedule of Gross and

SEGMENTS (Schedule of Gross and Net Premiums Written) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information [Line Items]
Gross premiums written	$ 17,178	$ 17,246	$ 52,387	$ 52,953
Reinsurance premium ceded	(1,749)	(1,747)	(4,697)	(4,599)
Net premiums written	15,429	15,499	47,690	48,354
Life Insurance Operations
Segment Reporting Information [Line Items]
Gross premiums written	1,700	1,631	4,708	4,698
Reinsurance premium ceded	(11)	(23)	(70)	(66)
Net premiums written	1,689	1,608	4,638	4,632
Life Insurance Operations | Traditional life insurance
Segment Reporting Information [Line Items]
Gross premiums written	1,083	1,081	3,280	3,319
Life Insurance Operations | Accident and health insurance
Segment Reporting Information [Line Items]
Gross premiums written	617	550	1,428	1,379
P&C Insurance Operations
Segment Reporting Information [Line Items]
Gross premiums written	15,478	15,615	47,679	48,255
Reinsurance premium ceded	(1,738)	(1,724)	(4,627)	(4,533)
Net premiums written	13,740	13,891	43,052	43,722
P&C Insurance Operations | Dwelling fire & extended coverage
Segment Reporting Information [Line Items]
Gross premiums written	9,515	9,427	29,181	28,898
P&C Insurance Operations | Homeowners (Including mobile homeowners)
Segment Reporting Information [Line Items]
Gross premiums written	5,406	5,651	16,782	17,687
P&C Insurance Operations | Other liability
Segment Reporting Information [Line Items]
Gross premiums written	$ 557	$ 537	$ 1,716	$ 1,670

Segments (Schedule of Gross a_2

Segments (Schedule of Gross and Net Premiums Earned) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information [Line Items]
Gross premiums earned	$ 17,042	$ 17,062	$ 50,614	$ 50,590
Reinsurance premium ceded	(1,597)	(1,595)	(4,850)	(4,752)
Net premiums earned	15,445	15,467	45,764	45,838
Life Insurance Operations
Segment Reporting Information [Line Items]
Gross premiums earned	1,638	1,597	4,774	4,773
Reinsurance premium ceded	(11)	(23)	(70)	(66)
Net premiums earned	1,627	1,574	4,704	4,707
Life Insurance Operations | Traditional life insurance
Segment Reporting Information [Line Items]
Gross premiums earned	1,021	1,049	3,347	3,395
Life Insurance Operations | Accident and health insurance
Segment Reporting Information [Line Items]
Gross premiums earned	617	548	1,427	1,378
P&C Insurance Operations
Segment Reporting Information [Line Items]
Gross premiums earned	15,404	15,465	45,840	45,817
Reinsurance premium ceded	(1,586)	(1,572)	(4,780)	(4,686)
Net premiums earned	13,818	13,893	41,060	41,131
P&C Insurance Operations | Dwelling fire & extended coverage
Segment Reporting Information [Line Items]
Gross premiums earned	9,403	9,218	27,792	27,066
P&C Insurance Operations | Homeowners (Including mobile homeowners)
Segment Reporting Information [Line Items]
Gross premiums earned	5,449	5,715	16,420	17,179
P&C Insurance Operations | Other liability
Segment Reporting Information [Line Items]
Gross premiums earned	$ 552	$ 532	$ 1,628	$ 1,572

CONTINGENCIES (Details)

CONTINGENCIES (Details)	Sep. 30, 2018claim
Hurricane
Loss Contingencies [Line Items]
Pending claims, number	1

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 804,000	$ 819,000
Income taxes paid	0	$ 0
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Common stock issued	76,000
Common Stock
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Common stock issued	5,000
Additional Paid-in Capital
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Common stock issued	$ 71,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Forecast - Hurricane $ in Thousands	3 Months Ended
	Dec. 31, 2018USD ($)
Subsequent Event [Line Items]
Decrease in pre-tax income	$ 4,000
Decrease in net income	3,160
Minimum
Subsequent Event [Line Items]
Reinsurance losses for unpaid claims and claims adjustments	11,000
Maximum
Subsequent Event [Line Items]
Reinsurance losses for unpaid claims and claims adjustments	$ 14,000