Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 737

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1C
Chunk 737
---

     147 
  
    Accrued expenses and other liabilities 
     18,128  
     17,758 
  
    Liabilities of discontinued operations 
     —  
     141,297 
  
    Total liabilities 
     281,914  
     404,487 

    Shareholders’ equity: 

    Common stock, $0.01 par value, authorized 25,000,000 shares, issued: 23,000,000 shares; and outstanding: 2024 – 20,673,268 shares, 2023 – 20,599,908 shares 
     230  
     230 
  
    Additional paid-in capital 
     95,796  
     96,294 
  
    Unearned employee stock ownership plan shares 
     (455) 
     (698)
  
    Retained earnings 
     201,584  
     208,376 
  
    Accumulated other comprehensive loss, net of income taxes 
     (18,231) 
     (21,384)
  
    Treasury stock, at cost, 2024 – 2,281,252 shares, 2023 – 2,330,297 shares 
     (34,293) 
     (35,177)
  
    Non-controlling interest 
     —  
     2,758 
  
    Total shareholders’ equity 
     244,631  
     250,399 

    Total liabilities and shareholders’ equity 
    $526,545  
    $654,886 

The accompanying notes are an integral part of these consolidated financial
statements. 

49 

NI Holdings, Inc.

Consolidated Statements of Operations

Years Ended December 31, 2024, 2023, and 2022

(dollar amounts in thousands, except per share data) 

    2024  
    2023  
    2022 
  
    Revenues: 

    Net premiums earned 
    $310,110  
    $292,117  
    $271,740 
  
    Fee and other income 
     1,938  
     1,940  
     1,381 
  
    Net investment income 
     10,943  
     8,034  
     6,636 
  
    Net investment gains (losses)