Cohen & Company Inc. (COHN) Q3 2025 Earnings Call

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WEBVTT 00:00:00.284 -- 00:00:05.229 Good morning, ladies and gentlemen. Welcome to Cohen and Company's third quarter 2025 00:00:05.229 -- 00:00:10.996 earnings call. My name is Alicia, and I'll be your operator for today. 00:00:10.996 -- 00:00:15.581 Before we begin, Cohen and Company would like to remind everyone that some of the statements 00:00:15.581 -- 00:00:20.666 the company makes during this call may contain forward-looking statements under applicable 00:00:20.666 -- 00:00:25.912 securities laws. These statements may involve risks and uncertainties that could cause 00:00:25.912 -- 00:00:30.942 the company's actual results to differ materially from the results discussed in such 00:00:30.942 -- 00:00:35.566 forward-looking statements. The forward-looking statements made during this call are 00:00:35.566 -- 00:00:40.710 made only as of the date of this call, and the company undertakes no obligations to update 00:00:40.710 -- 00:00:45.595 such statements to reflect subsequent events or circumstances. 00:00:45.595 -- 00:00:50.119 Cohen & Company advises you to read the cautionary note regarding forward-looking statements 00:00:50.119 -- 00:00:55.604 in its earnings release and in its most recent annual report on Form 10-K 00:00:55.604 -- 00:00:58.324 filed with the SEC. 00:00:58.366 -- 00:01:03.396 Earlier today, Cohen and Company issued a press release announcing third quarter 2025 00:01:03.396 -- 00:01:08.423 financial results. Today's discussion is complementary to that press release, which 00:01:08.423 -- 00:01:13.106 is available on the company's website at cohenandcompany.com. 00:01:13.369 -- 00:01:17.354 This conference call is being recorded, and a replay of it will be available for three 00:01:17.354 -- 00:01:21.239 days, beginning shortly after the concl...