Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 1263

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1A
Chunk 1263
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, and benefits.  Cash compensation and benefits increased by $4,019 to $51,720 for the year ended December 31, 2024, as compared to $47,701 for the year ended December 31, 2023.  Our headcount decreased to 113 as of December 31, 2024 from 118 as of December 31, 2023.  Cash compensation increased primarily due to an increase in incentive compensation related to the increase in new issue and advisory revenue and income from equity method affiliates, as well as the year over year overall improvement in operating performance. 

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Equity-based compensation increased due to a higher number of restricted shares granted in 2024 as compared to 2023.  

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Business Development, Occupancy, and Equipment 

Business development, occupancy, and equipment increased by $1,413, or 27%, to $6,617 for the year ended December 31, 2024, as compared to $5,204 for the year ended December 31, 2023. This increase was comprised of an increase in business development of $867 and an increase in other occupancy of $546.  

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Subscriptions, Clearing, and Execution 

Subscriptions, clearing, and execution increased by $674, or 8%, to $9,639 for the year ended December 31, 2024, as compared to $8,965 for the year ended December 31, 2023.  The increase was comprised of an increase in subscriptions and dues of $660 and an increase in clearing and execution of $14.  

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Professional Fee and Other Operating Expenses 

Professional fee and other operating expenses increased by $5,125, or 55%, to $14,421 for the year ended December 31, 2024, as compared to $9,296 for the year ended December 31, 2023.  The increase was comprised of an increase in professional fees of $1,913 and an increase in other operating expenses of $3,212.  A large portion of the increase in other operating expense was the result of bad debt expense of $2,556 recorded during 2024 related to CCM accounts receivable.  

Depreciation and Amortization 

Depreciation and amortization decreased by $7, or