Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 623

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 13
Chunk 623
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 payables to brokers, dealers, and clearing agencies on the Company’s consolidated balance sheets. The related amounts receivable and payable for unsettled securities transactions are recorded net in receivables from or payables to brokers, dealers, and clearing agencies on the Company’s consolidated balance sheets.
    
   Receivables from clearing agencies are primarily comprised of cash received by the Company upon execution of short trades that is restricted from withdrawal by the clearing agent.
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   Margin payable represents amounts borrowed from Pershing, LLC to finance the Company’s trading portfolio.  See note 5 for interest expense incurred on margin payable. All of the Company's securities included in investments-trading and a portion of the Company's securities included in other investments, at fair value serve as collateral for this margin loan.  See note 8.

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   7. OTHER RECEIVABLES 
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   Other receivables consisted of the following.
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    OTHER RECEIVABLES 
 (Dollars in Thousands) 

       December 31, 2024    December 31, 2023  
 New issue fee and advisory fee receivable - gross  $3,408  $1,181 
 Allowance for credit losses   (2,250)  - 
 New issue fee and advisory fee receivable - net   1,158   1,181 
 Asset management fees receivable   2,183   1,085 
 Accrued interest receivable   1,595   1,689 
 Revenue share receivable   -   321 
 Agency repo income receivable   522   391 
 Miscellaneous other receivables   1,068   706 
 Other receivables  $6,526  $5,373 

   New issue and advisory fees receivable represent amounts owed to JVB from various counterparties for services rendered.  New issue and advisory revenue is recognized when the Company’s performance obligations have been satisfied, and collectability is reasonably assured.  However, in certain cases, collectability becomes doubtful at a later date.  At each reporting period, the Company assesses the collectability of its new issue and advisory receivables.  Each receivable is unique and does not share similar characteristics to be pooled so they are evaluated on an individual basis.  The company records an allowance when