Consolidated Statements of Stockholder’s Equity  CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY Investors Title Company and Subsidiaries for the Years Ended December 31, 2000, 1999 and 1998 Sor the Years Ended December 31, 2000, 1999 and 1998 See notes to consolidated financial statements. 8 © Investors Title Company  2000 1999 1998 Nat income...........-uunenmnnsmeneneennnenenennnnnnnnnnnunnnenansennnenennnnnnnnnnnnmnnnenannensmennnnunnnnnnnnnmunen $ 3,140,463 $ 4,420,394 $ 5,459,509 Other comprehensive income, before tax: Unrealized gain (loss) on investments arising during the year .............. 1,586,411 = (1,635,511) 747,240 Less: reclassification adjustment for gains realized in net income ...........nennennnnenenennenenensnnnnnnnnnnnnennnnnnnnnnmeneneenn (104,211) (418,395) (398,610) Other comprehensive income (loss), before tax... sce eeeeeeeeeee 1,482,200 (2,053,906) 348,630 Income tax expense (benefit) related to unrealized . gain (loss) on investments arising during the year 2... - 539,380 (556,074) 254,061 Income tax expense related to reclassification adjustment for net gain realized in net income... eee (35,432) (142,254) (135,527) Net income tax expense (benefit) on other comprehensive income ........... 503,948 (698,328) ı 118,534 Other comprehensive income (loss) Comprehensive income. 978,252 (1,355,578) __ 230,096 eee $ 4,118,715 $ 3,064,816 $ 5,689,605 Investors Tithe Company and Subsidiaries CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Accumulated Other Comprehensive Income (Net Total Common Stock Retained Unrealized Gain Stockholders’ Shares Amount Earnings on Investments) Equity Balance, _— January 1, 1998 oe 2,900,200 § 879,612 $ 27,933,688 $2,315,608 $ 31,128,908 Nat INCOMe au a 5,459,509 5,459,509 Dividends ($.12 per share) oo... occu (342,689) (342,689) Distributions of 8,883 shares of common stock (net of purchases)... 8,883 1147,1591 (147,159) Net unrealized gain on investments .......... 230,096 230,096 Balance, December 31, 1998... 2,909,123 732,453 33,050,508 2,545,704 36,328,665 Nat Income «une . 4,420,394 4,420,394 Dividends ($.12 par sharal «un (342,689) (342,689) Purchases of 72,162 shares of common stock (net of distributions) (72,162) (732,452) 1816,600) (1,549,052) Net unrealized gain on investments .......... (1,355,578) 11,355,578) Balance, December 31, 1999 oo. 2,736,961 1 36,311,613 1,190,126 37,501,740 Nat INCOM «u. cess css sue En 3,140,463 3,140,463 Dividends ($.12 par sharal «une (342,689) 1342,689) Purchases of 170,102 shares of common stock (net of distributions) 1170,102) (2,088,117) (2,088,117) Net unrealized gain on investments .......... 978,252 978,252 Balance, December 31, 2000.00 2,566,859 $ 1 $37,021,270 $2,168,378 $39,189,649