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Cohen & Co Inc. Director's Dealing 2007

May 15, 2007

34911_dirs_2007-05-15_2eefe6c7-bb5e-43ee-acb7-0b10b7da8881.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALESCO FINANCIAL INC (AFN)
CIK: 0001270436
Period of Report: 2007-05-11

Reporting Person: MCENTEE JAMES (Director, President & CEO)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2007-05-11 Common Stock, $0.001 par value per share A 50000 $9.4371 Acquired 366141 Direct

Footnotes

F1: Includes 164,730 shares of restricted stock awarded to Mr. McEntee under the Alesco Financial Inc. 2006 Long Term Incentive Plan. The restrictions expire, pro rata, on the last day of each 3-month period commencing on July 31, 2007 and ending on January 31, 2010.