CITIZENS, INC.
For the period ended Dec 31, 2025. Filed Mar 12, 2026.
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FY2025 · Filed Mar 12, 2026
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Schedule II – Condensed Financial Information of Registrant
| Schedule IICondensed Financial Information of RegistrantCITIZENS, INC. (Parent Company)Balance Sheets | ||
|---|---|---|
| December 31, (In thousands) | 2025 | 2024 |
| Assets: | ||
| Investment in subsidiaries (1) | $213,359 | 188,678 |
| Fixed maturity securities, available-for-sale, at fair value | 16,295 | 16,331 |
| Equity securities, at fair value | 178 | 21 |
| Cash (restricted portion: $1,554 in 2025 and 2024) | 5,658 | 4,272 |
| Accrued investment income | 159 | 197 |
| Accounts receivable from subsidiaries (1) | 3,604 | 4,292 |
| Property and equipment, net | 6,642 | 8,018 |
| Other assets | (63) | 283 |
| Total assets | $245,832 | 222,092 |
| Liabilities and Stockholders' Equity: | ||
| Liabilities: | ||
| Accrued expense and other liabilities | $10,847 | 11,737 |
| Total liabilities | 10,847 | 11,737 |
| Stockholders' equity: | ||
| Common stock: | ||
| Class A | 272,294 | 269,799 |
| Class B | 3,184 | 3,184 |
| Retained earnings | 71,653 | 57,062 |
| Unrealized investment gains (losses) on securities held by parent and subsidiaries, net of tax | (88,421) | (95,965) |
| Treasury stock | (23,725) | (23,725) |
| Total stockholders' equity | 234,985 | 210,355 |
| Total liabilities and stockholders' equity | $245,832 | 222,092 |
(1) Eliminated in consolidation.
Citizens, Inc.'s investments in consolidated subsidiaries are stated at cost plus equity in undistributed income of consolidated subsidiaries and unrealized gains (losses) on investments held by consolidated subsidiaries. The Company includes in its statements of operations and comprehensive income (loss) dividends from its subsidiaries and equity in income (loss) of consolidated subsidiaries, which represents the net income (loss) of each of its wholly-owned subsidiaries.
December 31, 2025 | 10-K 102
| CITIZENS, INC. | FINANCIAL SCHEDULES |
|---|
| Schedule II, ContinuedCondensed Financial Information of RegistrantCITIZENS, INC. (Parent Company)Statements of Operations and Comprehensive Income (Loss) | ||
|---|---|---|
| Years ended December 31,(In thousands) | 2025 | 2024 |
| Comprehensive Income (Loss): | ||
| Revenues: | ||
| Management service fees (1) | $44,824 | 41,636 |
| Investment income | 769 | 4,900 |
| Other | 125 | 83 |
| Investment related gains (losses), net | 31 | (17) |
| Total revenues | 45,749 | 46,602 |
| Expenses: | ||
| General expenses | 48,285 | 47,470 |
| Taxes, licenses and fees | 224 | 216 |
| Total expenses | 48,509 | 47,686 |
| Income (loss) before equity in income (loss) of consolidated subsidiaries | (2,760) | (1,084) |
| Equity in income of consolidated subsidiaries | 17,351 | 15,996 |
| Net income | 14,591 | 14,912 |
| Other comprehensive income (loss) | 7,544 | 22,190 |
| Total comprehensive income (loss) | $22,135 | 37,102 |
(1) Eliminated in consolidation.
Citizens, Inc.'s investments in consolidated subsidiaries are stated at cost plus equity in undistributed income of consolidated subsidiaries and unrealized gains (losses) on investments held by consolidated subsidiaries. The Company includes in its statements of operations and comprehensive income (loss) dividends from its subsidiaries and equity in income (loss) of consolidated subsidiaries, which represents the net income (loss) of each of its wholly-owned subsidiaries.
December 31, 2025 | 10-K 103
| CITIZENS, INC. | FINANCIAL SCHEDULES |
|---|
| Schedule II, ContinuedCondensed Financial Information of RegistrantCITIZENS, INC. (Parent Company)Statements of Cash Flows | ||
|---|---|---|
| Years ended December 31,(In thousands) | 2025 | 2024 |
| Cash flows from operating activities: | ||
| Net income | $14,591 | 14,912 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Investment related gains (losses), net | (31) | 17 |
| Equity in income of consolidated subsidiaries | (17,351) | (15,996) |
| Change in accrued expenses and other liabilities | 210 | 4,303 |
| Change in federal income tax payable | 519 | 828 |
| Amortization of premiums and discounts on investments | 54 | 81 |
| Depreciation | 219 | 243 |
| Change in accrued investment income | 38 | 32 |
| Stock-based compensation | 2,774 | 1,517 |
| Decrease (increase) in receivable from subsidiaries and other assets | 688 | 39 |
| Other, net | (222) | (23) |
| Net cash provided by (used in) operating activities | 1,489 | 5,953 |
| Cash flows from investing activities: | ||
| Purchases of fixed maturity securities, available-for-sale | (8,820) | (5,066) |
| Maturities and calls of fixed maturity securities, available-for-sale | 4,671 | 9,989 |
| Purchase of equity securities | (120) | — |
| Sales of fixed maturity securities, available-for-sale | 4,444 | — |
| Purchases of property and equipment | — | (106) |
| Net cash provided by (used in) investing activities | 175 | 4,817 |
| Cash flows from financing activities: | ||
| Capital contribution to subsidiary | — | (10,010) |
| Other share repurchases | (278) | (393) |
| Net cash provided by (used in) financing activities | (278) | (10,403) |
| Net increase (decrease) in cash | 1,386 | 367 |
| Cash at beginning of year | 4,272 | 3,905 |
| Cash at end of year | $5,658 | 4,272 |
Citizens, Inc.'s investments in consolidated subsidiaries are stated at cost plus equity in undistributed income of consolidated subsidiaries and unrealized gains (losses) on investments held by consolidated subsidiaries. The Company includes in its statements of operations and comprehensive income (loss) dividends from its subsidiaries and equity in income (loss) of consolidated subsidiaries, which represents the net income (loss) of each of its wholly-owned subsidiaries.
December 31, 2025 | 10-K 104
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