Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 1985

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 3
Chunk 1985
---
 Net income / (loss) attributable to Cohen & Company Inc. 
      
     $
     (5,113
     )
      
     $
     (13,389
     )
      
     $
     8,276

     62
     %

﻿ 

Revenues 

﻿ 

Revenues increased by $38,594, or 87%, to $82,981 for the year ended December 31, 2023, as compared to $44,387 for the year ended December 31, 2022. As discussed in more detail below, the change was comprised of (i) a decrease of $9,083 in net trading revenue; (ii) a decrease of $1,667 in asset management revenue; (iii) an increase of $3,543 in new issue and advisory revenue; and (iv) an increase of $45,801 in principal transactions and other income.

﻿   

      53

Net Trading 

﻿ 

Net trading revenue decreased by $9,083, or 23%, to $30,926 for the year ended December 31, 2023, as compared to $40,009 for the year ended December 31, 2022.  The following table shows the detail by trading group.

﻿ 

﻿ 

      NET TRADING 

      (Dollars in Thousands) 

      For the Year Ended December 31, 

      2023 

      2022 

      Change 

      Mortgage 
      
     $
     (1,523
     )
      
     $
     56

     $
     (1,579
     )

      Matched book repo 

     16,315

     30,595

     (14,280
     )

      High yield corporate 

     4,768

     4,694

     74

      Investment grade corporate 

     (420
     )

     1,197

     (1,617
     )

      Wholesale and other 

     11,787

     3,467

     8,320

      Total 
      
     $
     30,927

     $
     40,009

     $
     (9,082
     )

﻿ 

Our net trading revenue includes unrealized gains on our trading investments, as of the applicable measurement date, which may never be realized due to