v3.25.4
Note 5 - Investment Banking and New Issue and Net Trading (Tables)
12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Investment Banking and New Issue [Table Text Block]
  

Year Ended December 31, 2025

 
  

Cash

  

Non Cash

  

Total

 

CCM - Underwriting

 $46,995  $14,633  $61,628 

CCM - Advisory and other new issue

  90,258   217,765   308,023 

Other - Origination

  3,916   -   3,916 

Total

 $141,169  $232,398  $373,567 

Gains / (losses) on CCM financial instruments received as non-cash consideration

          (185,959)

Investment banking and new issue

         $187,608 
             
  

Year Ended December 31, 2024

 
  

Cash

  

Non Cash

  

Net

 

CCM - Underwriting

 $4,733  $1,423  $6,156 

CCM - Advisory and other new issue

  32,495   22,915   55,410 

Other - Origination

  1,856   -   1,856 

Total

 $39,084  $24,338  $63,422 

Gains / (losses) on CCM financial instruments received as non-cash consideration

          (22,644)

Investment banking and new issue

         $40,778 
             
  

Year Ended December 31, 2023

 
  

Cash

  

Non Cash

  

Net

 

CCM - Underwriting

 $-  $-  $- 

CCM - Advisory and other new issue

  7,925   18,248   26,173 

Other - Origination

  2,091   -   2,091 

Total

 $10,016  $18,248  $28,264 

Gains / (losses) on CCM financial instruments received as non-cash consideration

          (4,312)

Investment banking and new issue

         $23,952 
             
Schedule of Net Trading [Table Text Block]
  

Year Ended December 31,

 
  

2025

  

2024

  

2023

 

Net realized gains / (losses)- trading inventory

 $26,023  $19,163  $18,962 

Net unrealized gains / (losses)-trading inventory

  2,341   1,742   (2,087)

Gains and losses

  28,364   20,905   16,875 
             

Interest income-trading inventory

  3,845   4,375   4,250 

Interest income-reverse repos

  34,893   37,958   28,238 

Interest income

  38,738   42,333   32,488 
             

Interest expense-repos

  (32,766)  (34,496)  (25,072)

Interest expense-margin payable

  (2,449)  (3,852)  (6,267)

Interest expense

  (35,215)  (38,348)  (31,339)
             

Other trading revenue

  15,460   11,519   12,902 
             

Net trading

 $47,347  $36,409  $30,926