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Revenue Recognition (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue Recognition [Abstract]  
Schedule of Represents Loss Related to Principal Transactions

The following table represents detail related to principal transactions and proprietary trading.

 

   Three Months Ended March 31, 
   2025   2024   Increase (Decrease) 
Principal transactions and proprietary trading            
Realized and unrealized gain on primarily riskless principal transactions  $3,712,000   $3,443,000   $269,000 
Unrealized gain on investment in equity security   9,233,000    
—
    9,233,000 
Realized and unrealized gain on portfolio of U.S. government securities   16,000    63,000    (47,000)
Total Principal transactions and proprietary trading  $12,961,000   $3,506,000   $9,455,000 
Schedule of Company’s Recognition of Revenue from Contracts

The table below presents detailed information on the Company’s recognition of revenue from contracts with customers as well as revenues from financial instruments, which are outside the scope of Topic 606, by major types of services for the periods indicated.

 

  

Three Months Ended

March 31,

 
   2025   2024 
Revenues from Contracts with Customers        
Principal transactions and proprietary trading        
Riskless principal transactions with customers  $3,740,000   $3,562,000 
           
Commissions and fees          
Brokerage commissions   1,543,000    1,892,000 
Distribution fees   357,000    325,000 
Insurance commissions   202,000    82,000 
           
Stock borrow / stock loan          
Retail fees (rebates)   6,000    (9,000)
Stock locate services   4,032,000    3,598,000 
           
Other income          
Administrative fees   528,000    342,000 
Payment for order flow   246,000    295,000 
Other commissions   
—
    (9,000)
           
Advisory fees   748,000    490,000 
           
Total Revenues from contracts with customers  $11,402,000   $10,568,000 
           
Revenue outside the scope of Topic 606          
Principal transactions and proprietary trading          
Proprietary trading   (12,000)   (56,000)
Principal transactions - equity investment   9,233,000    
—
 
           
Interest, marketing and distribution fees          
Margin interest   3,395,000    3,976,000 
Interest income   3,050,000    4,281,000 
Marking and distribution fees   500,000    506,000 
           
Stock borrow / stock loan          
Stock rebate revenue   799,000    509,000 
           
Market making   552,000    672,000 
           
Total Revenue Outside the Scope of Topic 606   17,517,000    9,888,000 
           
Total Revenue  $28,919,000   $20,456,000