Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 139

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1C
Chunk 139
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 2023 to  January 31, 2025, and (iii) the date following which the Amended and Restated Note  may be prepaid by the Operating LLC from  January 31, 2023 to  January 31, 2025; and (b) increase the interest rate payable under the Amended and Restated Note from 10% per annum to 12% per annum effective as of  January 31, 2024.

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   5. NET TRADING 
   ﻿ 
   Net trading consisted of the following in the periods presented.
   ﻿
    NET TRADING 
 (Dollars in Thousands) 

       Year Ended December 31,  
   2024    2023    2022  
 Net realized gains / (losses)- trading inventory  $19,163  $18,962  $12,583 
 Net unrealized gains / (losses)-trading inventory   1,742   (2,087)  (2,463)
 Gains and losses   20,905   16,875   10,120 
             
 Interest income-trading inventory   4,375   4,250   2,888 
 Interest income-reverse repos   37,958   28,238   47,023 
 Interest income   42,333   32,488   49,911 
             
 Interest expense-repos   (34,496)  (25,072)  (31,021)
 Interest expense-margin payable   (3,852)  (6,267)  (2,680)
 Interest expense   (38,348)  (31,339)  (33,701)
             
 Other trading revenue   11,519   12,902   13,679 
             
 Net trading  $36,409  $30,926  $40,009 

   ﻿Trading inventory includes investments classified as investments-trading as well as trading securities sold, not yet purchased.  For discussion of margin payable, see note 6. Other trading revenue is primarily comprised of revenue earned on the Company's agency repo business. See note 11.

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   6. RECEIVABLES FROM AND PAYABLE