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Schedule I

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

COHEN & COMPANY INC.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
COHEN & COMPANY INC. (PARENT COMPANY)
Balance Sheets
(Dollars in Thousands)

		As of December 31,
		2021				2020
Assets
Cash		$	-			$	-
Investment in Cohen & Company, LLC			77,316				62,552
Deferred income taxes			8,194				7,397
Total assets		$	85,510			$	69,949

Liabilities
Accrued interest and other liabilities		$	134			$	205
Deferred income taxes			-				-
Debt			23,961				25,835
Total liabilities			24,095				26,040

Stockholders’ Equity
Preferred Stock			27				27
Common Stock			17				13
Additional paid-in capital			72,006				65,031
Accumulated deficit			(9,730	)			(20,341	)
Accumulated other comprehensive loss			(905	)			(821	)
Total stockholders’ equity			61,415				43,909

Total liabilities and stockholders’ equity		$	85,510			$	69,949

See accompanying notes to condensed financial statements.

COHEN & COMPANY INC.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
COHEN & COMPANY INC. (PARENT COMPANY)
Statements of Operations
(Dollars in Thousands)

		For the Year Ended December 31,
		2021				2020				2019

Revenues
Equity in undistributed earnings / (loss) from Cohen & Company, LLC		$	13,324			$	8,567			$	1,340
Total revenues			13,324				8,567				1,340
Operating income / (loss)			13,324				8,567				1,340
Non-operating expense
Interest expense			(2,812	)			(3,218	)			(4,074	)
Income / (loss) before income taxes			10,512				5,349				(2,734	)
Income tax (benefit) / expense			(770	)			(8,856	)			(680	)
Net income / (loss)		$	11,282			$	14,205			$	(2,054	)

See accompanying notes to condensed financial statements.

COHEN & COMPANY INC.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
COHEN & COMPANY INC. (PARENT COMPANY)
Statements of Cash Flows
(Dollars in Thousands)

		For the Year Ended December 31,
		2021				2020				2019

Operating activities
Net income / (loss)		$	11,282			$	14,205			$	(2,054	)
Adjustments to reconcile net income / (loss) to net cash provided by / (used) in operating activities:
Equity in undistributed earnings / (loss) from Cohen & Company, LLC			(13,324	)			(8,567	)			(1,340	)
Distributions from / (contributions to) Cohen & Company, LLC			(2,662	)			9,388				4,634
Other (income) / expense			-				-				-
Amortization of discount of debt			526				434				277
(Increase) / decrease in other assets			-				21				47
Increase / (decrease) in accounts payable and other liabilities			(71	)			(34	)			19
Increase / (decrease) in deferred income taxes			(797	)			(8,877	)			(678	)
Net cash provided by / (used in) operating activities			(5,046	)			6,570				905
Financing activities
Repurchase and repayment of debt			-				-				-
Proceeds from issuance of Common Stock			9,076				-				-
Cash used to net share settle equity awards			(102	)			(15	)			(87	)
Principal payments on debt			(2,400	)			(4,386	)			-
Repurchase of stock			(857	)			(2,142	)			(299	)
Dividends paid to stockholders			(671	)			(27	)			(519	)
Net cash provided by / (used in) financing activities			5,046				(6,570	)			(905	)
Net increase (decrease) in cash and cash equivalents			-				-				-
Cash and cash equivalents, beginning of period			-				-				-
Cash and cash equivalents, end of period		$	-			$	-			$	-

See accompanying notes to condensed financial statements.

COHEN & COMPANY INC.

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

COHEN & COMPANY INC. (PARENT COMPANY)

NOTES TO CONDENSED FINANCIAL STATEMENTS

(Dollars in thousands)

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 & Cohen, LLC as disclosed above in the statements of cash flow.