Company: NODK
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001174947-25-000721
Chunk: 3

Company: NI Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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—  
     10 
  
    Other comprehensive income (loss), before income taxes 
     3,313  
     (1,807)
  
    Income tax benefit (expense) related to items of other comprehensive income (loss) 
     (753) 
     407 
  
    Other comprehensive income (loss), net of income taxes 
     2,560  
     (1,400)

    Comprehensive income 
    $9,020  
    $5,019 

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

5 

NI Holdings, Inc.

Consolidated Statements of Changes in Shareholders’ Equity
(Unaudited)

(dollar amounts in thousands) 

    Three Months Ended March 31, 2025

    Common
 Stock  
    Additional 
Paid-in 
Capital  
    Unearned 
Employee 
Stock 
Ownership 
Plan Shares  
    Retained 
Earnings  
    Accumulated 
Other 
Comprehensive
 Loss, Net of
 Income Taxes  
    Treasury 
Stock  
    Non-Controlling 
Interest  
    Total 
Shareholders’ 
Equity 
  
    Balance,
 January 1, 2025 
    $230  
    $95,796  
    $(455) 
    $201,584  
    $(18,231) 
    $(34,293) 
    $—  
    $244,631 

    Battle Creek demutualization 
     —  
     —  
     —  
     —  
     —  
     —  
     —  
     — 
  
    Net income 
     —  
     —  
     —  
     6,460  
     —  
     —  
     —  
     6,460 
  
    Other comprehensive income (loss), net of income taxes 
     —  
     —  
     —  
     —  
     2,560  
     —  
     —  
     2,560 
  
    Share-based compensation 
     —  
     480  
     —  
     —  
     —  
     —  
     —  
     480 
  
    Issuance of vested