Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 2646

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 5
Chunk 2646
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       3,735,004

       82,632

       4,019,239

       3,977,324

       F-
       68

   27. RESERVE REQUIREMENTS 
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   As of  December 31, 2024 and 2023, JVB claimed exemptions to the reserve requirements under Rule 15c3-3 of the Securities Exchange Act of 1934 under two separate exemptions.  First, JVB does not carry securities accounts for its customers or perform custodial functions relating to customer securities and, therefore, qualifies for an exemption under Rule 15c3-3(k)(2)(ii).  Second, JVB qualifies for an exemption under Footnote 74 of the SEC Release No. 34-70073 because it limits its business activities to certain activities allowed under this exemption and it does not hold customer funds or securities, carry customer accounts, and does not carry PAB accounts.  
   ﻿

        F-
       69

   28. COMMITMENTS AND CONTINGENCIES 
   ﻿ 
   Lease Commitments 
   ﻿ 
   The Company leases office space in several cities under lease agreements. As of  December 31, 2024, future minimum commitments under these operating leases are as follows.

    FUTURE LEASE COMMITMENTS 
 (Dollars in Thousands) 

       Lease    Less: Sublease    Net Commitment  
 2025  $3,310  $(26) $3,284 
 2026   2,612   -   2,612 
 2027   2,458   -   2,458 
 2028   2,471   -   2,471 
 2029   2,400   -   2,400 
 2030 and thereafter   10,275   -   10,275 
  $23,526  $(26) $23,500 

   Rent expense for the years ended  December 31, 2024, 2023, and 2022 was $2,724, $2,538, and $2,522, respectively, and was included in business development, occupancy, and equipment expense in the consolidated statements of operations.  Rent expense was recorded net of sublease income of $92, $