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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and cash equivalents $ 37,618,000 $ 33,150,000
Deposits with clearing organizations 143,032,000 98,909,000
Receivable from brokers, dealers and clearing organizations 290,181,000 241,478,000
Receivable from customers, net of allowance for credit losses of $169 ($175 in 2024) 1,341,550,000 1,268,866,000
Income tax receivable 2,663,000 1,499,000
Securities owned, including amounts pledged of $1,072,282 ($1,015,604 in 2024), at fair value 1,256,970,000 1,108,206,000
Notes receivable, net 64,316,000 67,931,000
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $96,605 ($92,390 in 2024) 35,470,000 38,188,000
Right-of-use lease assets, net of accumulated amortization of $130,417 ($118,325 in 2024) 127,158,000 133,821,000
Corporate-owned life insurance 104,045,000 98,828,000
Goodwill 143,607,000 143,607,000
Intangible assets 35,376,000 35,709,000
Other assets 105,353,000 112,534,000
Total assets 3,687,339,000 3,382,726,000
Liabilities    
Drafts payable 12,128,000 21,661,000
Bank call loans 323,800,000 252,100,000
Payable to brokers, dealers and clearing organizations 527,179,000 253,816,000
Payable to customers 363,535,000 357,835,000
Securities sold under agreements to repurchase 853,123,000 931,754,000
Securities sold but not yet purchased, at fair value 203,341,000 98,892,000
Accrued compensation 232,728,000 331,298,000
Income tax payable 174,000 3,963,000
Accounts payable and other liabilities 64,392,000 65,764,000
Lease liabilities 165,849,000 173,320,000
Deferred tax liabilities, net of deferred tax assets of $46,679 ($48,640 in 2024) 44,232,000 41,928,000
Total liabilities 2,790,481,000 2,532,331,000
Commitments and contingencies (Note 13)
Stockholders' equity    
Common stock ($0.001 par value per share): Class A: shares authorized: 50,000,000; shares issued and outstanding: 10,418,259 and 10,231,736 as of June 30, 2025 and December 31, 2024, respectively Class B: shares authorized, issued and outstanding: 99,665 as of June 30, 2025 and December 31, 2024 10,000 10,000
Additional paid-in capital 26,576,000 29,733,000
Retained earnings 867,922,000 819,961,000
Accumulated other comprehensive income 2,350,000 691,000
Total Stockholders' equity 896,858,000 850,395,000
Total Liabilities and Stockholders' Equity $ 3,687,339,000 $ 3,382,726,000