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Note 20 - Debt - Detail of Debt (Details) - USD ($) | Dec. 31, 2020 | Feb. 03, 2020 | Dec. 31, 2019
--- | --- | --- | ---
Debt |  | $ 47,100,000 |  | $ 48,861,000
The 2019 Senior Notes [Member] |  |  |  |
Debt |  |  | $ 2,400,000 |
Non-convertible And Contingent Convertible Debt [Member | The 2020 Senior Notes [Member] |  |  |  |
Long-term Debt, Gross |  | $ 4,500,000 |  |
Interest Rate |  | 12.00% |  |
Non-convertible And Contingent Convertible Debt [Member | The 2019 Senior Notes [Member] |  |  |  |
Long-term Debt, Gross |  | $ 2,400,000 |  | 6,786,000
Interest Rate |  | 12.00% |  |
Non-convertible And Contingent Convertible Debt [Member | PPP Loan [Member] |  |  |  |
Long-term Debt, Gross |  | $ 2,166,000 |  |
Interest Rate |  | 1.00% |  |
Contingent Convertible Senior Notes [Member] |  |  |  |
Less unamortized debt issuance costs |  | $ (401,000) |  | (703,000)
Debt |  | 14,599,000 |  | 14,297,000
Contingent Convertible Senior Notes [Member] | Contingent Convertible Senior Notes 8.00% (2017 Convertible Note) [Member] |  |  |  |
Long-term Debt, Gross |  | $ 15,000,000 |  | 15,000,000
Interest Rate | [1],[2] | 8.00% |  |
Junior Subordinated Notes [Member] |  |  |  |
Debt | [3] | $ 23,435,000 |  | 23,001,000
Less unamortized discount | [3] | (24,690,000) |  | (25,124,000)
Junior Subordinated Notes [Member] | Alesco Capital Trust I [Member] |  |  |  |
Long-term Debt, Gross | [3] | $ 28,125,000 |  | 28,125,000
Interest Rate | [1],[3] | 4.21% |  |
Junior Subordinated Notes [Member] | Sunset Financial Statutory Trust I [Member] |  |  |  |
Long-term Debt, Gross | [3] | $ 20,000,000 |  | 20,000,000
Interest Rate | [1],[3] | 4.37% |  |
Credit Facility [Member] | Legacy Texas [Member] |  |  |  |
Long-term Debt, Gross |  |  |  | $ 4,777,000
[1] | Represents the interest rate in effect as of the last day of the reporting period.
[2] | The holder of the 2017 Convertible Note may convert all or any part of the outstanding principal amount at any time prior to maturity into units of membership interests of the Operating LLC at a conversion price of $1.45 per unit, subject to customary anti-dilution adjustments. Units of membership interests of the Operating LLC not held by Cohen & Company Inc. may, with certain restrictions, be redeemed and exchanged into shares of the Cohen & Company Inc. common stock, par value $0.01 per share ("Common Stock") on a tenfor- one basis. Therefore, the 2017 Convertible Note can be converted into Operating LLC units of membership interests and then redeemed and exchanged into Common Stock at an effective conversion price of $14.50. See note 21.
[3] | The junior subordinated notes listed represent debt the Company owes to the two trusts noted above. The total par amount owed by the Company to the trusts is $49,614. However, the Company owns the common stock of the trusts in a total par amount of $1,489. The Company pays interest (and at maturity, principal) to the trusts on the entire $49,614 junior notes outstanding. However, the Company receives back from the trusts the pro rata share of interest and principal on the common stock held by the Company. These trusts are VIEs and the Company does not consolidate them even though the Company holds the common stock. The Company carries the common stock on its balance sheet at a value of $0. The junior subordinated notes are recorded at a discount to par. When factoring in the discount, the yield to maturity of the junior subordinated notes as of December 31, 2020 on a combined basis was 11.58% assuming the variable rate in effect on the last day of the reporting period remains in effect until maturity.

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