Good morning, ladies and gentlemen, and welcome to Cohen & Company's Fourth Quarter 2022 Earnings Call. My name is Christine, I'll be your operator for today. Before we begin, Cohen & Company would like to remind everyone that some of the statements the company makes during the call may contain forward-looking statements under applicable securities laws. These statements may involve risks and uncertainties that could cause the company's actual results to differ materially from the results discussed in such forward-looking statements. The forward-looking statements made during this call are made only as of the date of this call, the company undertakes no obligation to update such statements to reflect subsequent events or circumstances. Cohen & Company advises you to read the cautionary note regarding forward-looking statements in its earning release and in its most recent annual report on Form 10-K filed with the SEC. I would now like to turn the call over to Mr. Lester Brafman, Chief Executive Officer of Cohen & Company. Thank you, Christine, and thank you everyone for joining us for our fourth quarter 2022 earnings call. With me on the call is Joe Pooler, our CFO. Continued turbulent market conditions impacted our reported financial results in the quarter, particularly from negative mark-to-market adjustments on our principal investing portfolio. Our principal investing segment accounted for substantially all our consolidated adjusted pre-tax loss for the quarter and for the full year. Despite this challenging market backdrop, our Cohen & Company Capital Markets investment banking team continues to grow market share as an advisor and agent with multiple recently announced leadership engagements. We remain focused on our strategic objectives, and we are confident that past investments will translate into higher revenues in the future, especially from the Cohen & Company Capital Markets team. As we move forward, we are committed to enhancing stockholder value, and in the fourth quarter, we continue to pay our quarterly dividend. Now I will turn the call over to Joe to walk through this quarter's financial highlights in more detail. Thank you, Lester. We'll start with our statement of operations. Our net loss attributable to Cohen & Company Inc. was $3 million for the quarter, or $2.10 per fully diluted share, compared to net loss of $900,000 for the prior quarter, or $0.64 per fully diluted share, and net income of $4.2 million for the prior year quarter, or $2.43 per fully diluted share. Our adjusted pre-tax loss was $6.1 million for the quarter, compared to adjusted pre-tax income of $2.2 million for the prior quarter and adjusted pre-tax income of $6.4 million for the prior year quarter. Note that adjusted pre-tax income and loss is not a measure recognized under U.S. Generally Accepted Accounting Principles. See our disclosures, calculations, and reconciliations surrounding adjusted pre-tax income and loss in our earnings release. Fourth quarter 2022 principal transactions and other revenue was -$3.2 million. The negative principal transactions and other revenue was primarily due to mark-to-market adjustments on our principal investments related to our involvement in the SPAC market, which has re, resulted in increased holdings of public equity positions in post-business combination companies. Principal transactions revenue includes all gains and losses and income earned on our $28 million investment portfolio classified as other investments at fair value on our balance sheet. Net trading revenue came in at $9.6 million in the fourth quarter, up $1.7 million from the third quarter and down $5.6 million from the fourth quarter of 2021. The increase from the prior quarter was due primarily to higher trading revenue from our Mortgage and Municipal Bond Groups, while the decrease from the prior year quarter was due primarily to lower trading revenue from our Mortgage and Corporate Groups. New issue and advisory revenue was $4.2 million in the fourth quarter, a decrease of $9 million from the third quarter and $13 million from the year ago quarter. During the fourth quarter, our investment banking group, Cohen & Company Capital Markets, generated $2.9 million of revenue. The Europe Insurance Origination Team generated $1.2 million, and the Commercial Real Estate Origination team generated $100,000. Our asset management revenue totaled $1.8 million in the quarter, which was down $1.7 million from the prior quarter and $3.4 million from the prior year quarter. The decrease from the prior quarter was due primarily to the successful auction of an Alesco CDO in September 2022 and the resulting $1.6 million of subordinated management fees in arrears that were recorded in that quarter. The decrease in the prior year quarter was due primarily to an incentive allocation earned by the manager of our SPAC funds in the prior year quarter. Compensation and benefits expense for the fourth quarter of 2022 was $9 million, which was down from both prior quarters, primarily due to fluctuations in revenue and the related variable incentive compensation. The number of company employees was 121 as of December 31, 2022, compared to 122 at the end of September 30, 2022, and 118 as of the end of the prior year. Net interest expense for the fourth quarter of 2022 was $1.2 million, including $1.1 million on our two trust preferred debt instruments, $113,000 on our senior notes, $46,000 on our credit line, all partially offset by a reduction of $89,000 related to our redeemable financial instrument. Loss from equity method affiliates during the quarter totaled $6.4 million, which includes a loss of $4.8 million related to the liquidation of our third sponsored SPAC, INSU Acquisition Corp. III. That $4.8 million charge is offset by a $4.2 million credit recorded in the net income loss attributable to the non-convertible non-controlling interest line item. During the fourth quarter, income tax expense was $1.3 million compared to $1.8 million in the prior quarter, income tax benefit of $4.1 million in the prior year quarter. We will continue to evaluate our operations on a quarterly basis and may make adjustments to our valuation allowances applied against our net operating loss and net capital loss tax assets going forward. Future adjustments could be material and could result in additional tax benefit or additional tax expense. In terms of our balance sheet, as of December 31, 2022, total equity was $94 million compared to $151.4 million at the end of the prior year. The non-convertible non-controlling interest component of total equity was $17,000 at the end of 2022 and $31.9 million at the end of 2021. Thus, the total equity excluding the non-convertible non-controlling interest component was $94 million at the end of 2022, a $25.6 million decrease from $119.6 million at the end of 2021. At quarter end, consolidated corporate indebtedness was carried at $29 million, and our redeemable financial instruments were carried at $7.9 million. As Lester mentioned, we have declared a quarterly dividend of $0.25 per share payable on April 5, 2023 to stockholders of record as of March 22, 2023. The Board of Directors will continue to evaluate the dividend policy each quarter, and future decisions regarding dividends may be impacted by quarterly operating results and the company's capital needs. With that, I will turn it back to Lester for closing remarks. Thanks, Joe. Please direct any offline investor questions to Joe Pooler at 215-701-8952 or via email to investorrelations@cohenandcompany.com. The contact information can also be found at the bottom of our earnings release. Operator, you can now open the call lines for questions, and thank everyone for joining us today. Thank you. We will now be conducting a question-and-answer session. If you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. One moment please while we poll for questions. As a reminder, if you would like to ask a question, press star one on your telephone keypad. Mr. Brafman, it appears we have no phone questions at this time. All right. Thank you, everyone, and we look forward to speaking to you next quarter. Ladies and gentlemen, this does conclude today's teleconference. You may disconnect your lines at this time. Thank you for your participation, and have a wonderful day. Thank you.