Company: COHN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033482
Chunk: 210

Company: Cohen & Co Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 210
---
 in the gestation repo business.  However, this is primarily a function of the limited number of reverse repo agreement counterparties with whom the Company conducts this business rather than a reflection of a limited supply of funds.  Therefore, the Company considers the gestation repo business to be concentrated on the demand side. 
    
   The total net revenue earned by the Company on its gestation repo business (net interest margin and fee revenue) was $4,969  and $3,843 for the three months ended  September 30, 2025 and 2024, respectively. The total net revenue earned by the Company on its gestation repo business was $13,606 and $10,992 for the nine months ended  September 30, 2025 and 2024﻿, respectively. 
   ﻿
   Detail 
    
   ASC 210 provides the option to present reverse repo and repo on a net basis if certain netting conditions are met.  The Company presents all repo and reverse repo transactions, as well as counterparty cash collateral (see note 13), on a gross basis even if the underlying netting conditions are met.  The amounts in the table below are presented on a gross basis.
    
   The following tables summarize the remaining contractual maturity of the gross obligations under repos accounted for as secured borrowings segregated by the underlying collateral pledged as of each date shown.  All amounts as well as counterparty cash collateral (see note 13) are subject to master netting arrangements.
    
   SECURED BORROWINGS
   (Dollars in Thousands)
    September 30, 2025

       Repurchase Agreements  
   Remaining Contractual Maturity of the Agreements  
   Overnight and    Up to   30 - 90   Greater than      
 Collateral Type:   Continuous    30 days    days    90 days    Total  
 MBS (gestation repo)  $-  $414,601  $-  $-  $414,601 
 SBA loans   42,457   -   -   -   42,457 
  $42,457  $414,601  $-  $-  $457,058 

       Reverse Repurchase Agreements  
   Remaining Contractual Maturity of the Ag