Investors Title reported net income of $7.5 million, or $3.97 per share, compared with $8.4 million, or $4.41 per share a year earlier. Total revenues declined 1.6% year over year to $69.5 million while operating expenses increased 0.2% to $59.9 million, resulting in income before taxes of $9.6 million, down from $10.8 million.

Net premiums written fell to $55.4 million from $57.8 million, with direct premiums rising to $16.2 million (29.2% of total) and agency premiums declining to $39.2 million. Escrow and title-related fees increased modestly to $4.9 million, and non-title services revenue rose to $5.3 million from $4.3 million, supported by growth in like-kind exchange and agency management services.

Commissions to agents declined to $29.5 million from $31.8 million, reflecting lower agency premium volume. Personnel expenses increased to $19 million from $17.7 million, and other expenses rose to $6.3 million from $4.9 million, driven by professional services for agency acquisitions and other projects.

Shares have slid 17.5% since the earnings release, underperforming the S&P 500’s modest decline. Management highlighted efforts to expand market presence, strengthen operational efficiency and grow non-title businesses as key drivers for improving long-term profitability.