Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 468

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 468
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 and unobservable. These inputs reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability. 

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   In certain cases, the inputs used to measure fair value  may fall into different levels of the valuation hierarchy. In such cases, the level in the valuation hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.
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   Both observable and unobservable inputs  may be used to determine the fair value of positions that the Company has classified within the level 3 category. As a result, the unrealized gains and losses for assets and liabilities within the level 3 category that  may be presented in the tables below  may include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs. 
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   The following tables present information about the Company’s assets and liabilities measured at fair value as of  December 31, 2024 and 2023, and indicate the valuation hierarchy of the valuation techniques utilized by the Company to determine such fair value.
    
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    FAIR VALUE MEASUREMENTS ON A RECURRING BASIS 
 As of  December 31, 2024 
 (Dollars in Thousands) 

               Significant    Significant  
       Quoted Prices in    Other Observable    Unobservable  
       Active Markets    Inputs    Inputs  
 Assets   Fair Value    (Level 1)    (Level 2)    (Level 3)  
 Investments-trading:                 
 Corporate bonds and redeemable preferred stock  $27,043  $-  $27,043  $- 
 Derivatives   4,836   -   4,836   - 
 Equity securities   965   352   613   - 
 Foreign government bond   88   -   88   - 
 Municipal bonds   19,914   -   19,914   - 
 RMBS   5   -