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National Security Group back in black in Q1 with EPS of 19 cents

National Security Group Inc. reported first-quarter net income of $471,000, or 19 cents per share, compared with a net loss of $316,000, or a loss of 13 cents per share, in the year-ago period.

The company said claim activity related to catastrophe events was significantly less during the first quarter compared with the prior-year period. The company's property and casualty segment had $758,000 in reported losses and loss adjustment expenses from catastrophic events in the first quarter, compared with $3.5 million recorded in the prior-year period.

The company reported pretax income from operations of $757,000 in the first quarter, compared with a pretax loss from operations of $875,000 in the year-ago period.

Total revenues were $15.9 million in the first quarter, compared with $16.3 million in the prior-year period.