Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 52

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1C
Chunk 52
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 repurchase agreements from period-to-period and intra-period are dependent on business activity in those periods. The fluctuations in the balances of our receivables under resale agreements over the periods presented were impacted by our clients’ desires to execute collateralized financing arrangements through the repurchase market or other financing products.

Average balances and period end balances will fluctuate based on market and liquidity conditions and we consider such intra-period fluctuations as typical for the repurchase market. Month-end balances may be higher or lower than average period balances.

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Debt Financing 

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The following table summarizes our long-term indebtedness and other financing outstanding. See note 20 to our consolidated financial statements in our Annual Report on Form 10-K for more information. 

      DETAIL OF DEBT 

      (Dollars in Thousands) 

      Description 
      
      December 31, 2024 

      December 31, 2023 
      
      Interest Rate Terms 
      
      Interest (2) 
      
      Maturity 

      Non-convertible debt: 

      12.00% senior note (the "2024 Note") 
      
     $
     5,146

     $
     -
      
      Fixed 

     12.00
     %
      August 2026 

      12.00% senior note (the "2020 Note") 

     4,500

     4,500
      
      Fixed 

     12.00
     %
      January 2026 

      Junior subordinated notes (1): 

      Alesco Capital Trust I 

     28,125

     28,125
      
      Variable 

     8.85
     %
      July 2037 

      Sunset Financial Statutory Trust I 

     20,000

     20,000
      
      Variable 

     9.02
     %
      March 2035 

      Less unamortized discount 

     (22,867
     )

     (22,909
     )

     25,258

     25,216

      Byline Credit Facility 

     -

     -
      
      Variable 

     N/A
      
      June 2025 

      Total 
      
     $
     34,904

     $
     29,716

      67

      (1) 
      The junior subordinated notes represent debt the Company owes to the two trusts noted above.