Cohen & Co Inc.
For the period ended Dec 31, 2024. Filed Mar 12, 2025.
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FY2024 · Filed Mar 12, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Financial Information of Registrant
SCHEDULE I
COHEN & COMPANY INC.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
COHEN & COMPANY INC. (PARENT COMPANY)
Unaudited
Balance Sheets
(Dollars in Thousands)
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Cash · $ · - · $ · - | ||
| Investment in Cohen & Company, LLC | 67,743 | 67,670 |
| Prepaid income taxes | 20 | 38 |
| Total assets | $67,763 | $67,708 |
| Liabilities | ||
| Accrued interest and other liabilities | $340 | $342 |
| Deferred income taxes | 437 | 468 |
| Debt | 25,258 | 25,216 |
| Total liabilities | 26,035 | 26,026 |
| Stockholders’ Equity | ||
| Preferred Stock | 27 | 27 |
| Common Stock | 20 | 19 |
| Additional paid-in capital | 76,704 | 74,594 |
| Accumulated deficit | (34,016) | (32,014) |
| Accumulated other comprehensive loss | (1,007) | (944) |
| Total stockholders’ equity | 41,728 | 41,682 |
| Total liabilities and stockholders’ equity | $67,763 | $67,708 |
F-82
COHEN & COMPANY INC.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
COHEN & COMPANY INC. (PARENT COMPANY)
Unaudited
Statements of Operations
(Dollars in Thousands)
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Revenues | |||
| Equity in undistributed earnings / (loss) from Cohen & Company, LLC | $4,553 | $3,708 | $(4,953) |
| Total revenues | 4,553 | 3,708 | (4,953) |
| Operating income / (loss) | 4,553 | 3,708 | (4,953) |
| Non-operating expense | |||
| Interest expense | (4,695) | (5,247) | (3,443) |
| Income / (loss) before income taxes | (142) | (1,539) | (8,396) |
| Income tax (benefit) / expense | (13) | 3,574 | 4,993 |
| Net income / (loss) | $(129) | $(5,113) | $(13,389) |
F-83
COHEN & COMPANY INC.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
COHEN & COMPANY INC. (PARENT COMPANY)
Unaudited
Statements of Cash Flows
(Dollars in Thousands)
| For the Year Ended December 31, | ||||||
|---|---|---|---|---|---|---|
| 2024 · 2023 · 2022 | ||||||
| Operating activities | ||||||
| Net income / (loss) | $(129) | $(5,113) | $(13,389) | |||
| Adjustments to reconcile net income / (loss) to net cash provided by / (used) in operating activities: | ||||||
| Equity in undistributed earnings / (loss) from Cohen & Company, LLC | (4,553) | (3,708) | 4,953 | |||
| Distributions from / (contributions to) Cohen & Company, LLC | 6,428 | 6,223 | 5,433 | |||
| Amortization of discount of debt | 42 | 692 | 563 | |||
| (Increase) / decrease in other assets | 18 | 108 | (166) | |||
| Increase / (decrease) in accounts payable and other liabilities | (2) | 35 | 199 | |||
| Increase / (decrease) in deferred income taxes | (31) | 3,561 | 5,041 | |||
| Net cash provided by / (used in) operating activities | 1,773 | 1,798 | 2,634 | |||
| Financing activities | ||||||
| Proceeds from issuance of Common Stock | 154 | - | - | |||
| Cash used to net share settle equity awards | (54) | (48) | (76) | |||
| Dividends paid to stockholders | (1,873) | (1,750) | (2,558) | |||
| Net cash provided by / (used in) financing activities | (1,773) | (1,798) | (2,634) | |||
| Net increase (decrease) in cash and cash equivalents | - | - | - | |||
| Cash and cash equivalents, beginning of period | - | - | - | |||
| Cash and cash equivalents, end of period | $ | - | $ | - | $ | - |
F-84
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
COHEN & COMPANY INC. (PARENT COMPANY)
NOTES TO CONDENSED FINANCIAL STATEMENTS
Unaudited
The accompanying condensed financial statements should be read in conjunction with the consolidated financial statements and related notes of Cohen & Company Inc. Certain prior period amounts have been reclassified to conform to the current period presentation. The Company paid or received cash distributions to / from Cohen & Company, LLC as disclosed above in the statements of cash flow.
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