Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 1014

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 15
Chunk 1014
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ASE COMMITMENTS 
 (Dollars in Thousands) 

       Lease    Less: Sublease    Net Commitment  
 2025  $3,310  $(26) $3,284 
 2026   2,612   -   2,612 
 2027   2,458   -   2,458 
 2028   2,471   -   2,471 
 2029   2,400   -   2,400 
 2030 and thereafter   10,275   -   10,275 
  $23,526  $(26) $23,500 

   Rent expense for the years ended  December 31, 2024, 2023, and 2022 was $2,724, $2,538, and $2,522, respectively, and was included in business development, occupancy, and equipment expense in the consolidated statements of operations.  Rent expense was recorded net of sublease income of $92, $94, and $102 for the years ended  December 31, 2024, 2023 and 2022, respectively. 
    
   The lease commitments noted above represent the actual cash commitments and will not necessarily match the amount of rent expense recorded in the consolidated statements of operations. 
    
   Legal and Regulatory Proceedings
    
   From time to time, the Company is a party to various routine legal proceedings, claims, and regulatory inquiries arising out of the ordinary course of the Company’s business. Management believes that the results of these routine legal proceedings, claims, and regulatory matters will not have a material adverse effect on the Company’s financial condition, or on the Company’s operations and cash flows. However, the Company cannot estimate the legal fees and expenses to be incurred in connection with these routine matters and, therefore, is unable to determine whether these future legal fees and expenses will have a material impact on the Company’s operations and cash flows. It is the Company’s policy to expense legal and other fees as incurred. 
    
   One of the Company's investment advisers, Cohen & Company Financial Management LLC ("CCFM"), is currently subject to an investigation by the SEC’s enforcement division, which is reviewing its disclosure practices around conflicts of interest and other issues.  As is the Company's current practice, it is cooperating with the SEC staff and is