Stifel Financial Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Stifel Financial Corp. has submitted its 2023 annual 10-K filing detailing financial performance and corporate information.</b>

AI Summary

STIFEL FINANCIAL CORP (SF-PD) filed a Annual Report (10-K) with the SEC on February 16, 2024. Stifel Financial Corp. filed its annual report on Form 10-K for the fiscal year ending December 31, 2023. The filing includes financial data and disclosures for the period. Key dates mentioned include July 31, 2024, May 31, 2030, and October 31, 2047, potentially related to agreements or maturities. The company's business address is 501 N. Broadway, St. Louis, MO 63102-2102. The SIC code for Stifel Financial Corp. is 6211, indicating Security Brokers, Dealers & Flotation Companies.

Why It Matters

For investors and stakeholders tracking STIFEL FINANCIAL CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Stifel's financial health, operational activities, and strategic positioning for the fiscal year 2023, which is crucial for investors to assess the company's performance and future outlook. The detailed disclosures within the 10-K are essential for regulatory compliance and transparency, allowing stakeholders to understand the company's financial condition, risks, and management's discussion of results.

Risk Assessment

Risk Level: low — STIFEL FINANCIAL CORP shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant negative news or events, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-K to understand Stifel's performance drivers and strategic initiatives for 2023.

Key Numbers

• 20231231 — Fiscal Year End (Fiscal year end date)
• 154 — Public Document Count (Number of documents in the filing)
• 001-09305 — SEC File Number (SEC file number for the company)
• 24649123 — Film Number (Film number for the filing)

Key Players & Entities

• STIFEL FINANCIAL CORP (company) — Filer name
• 0000950170-24-016475 (other) — Accession number
• 20231231 (date) — Conformed period of report
• 20240216 (date) — Filed as of date
• 6211 (other) — Standard Industrial Classification
• DE (other) — State of incorporation
• JAMES G. LASCHOBER (person) — Contact person for business and mail address
• 314-342-2000 (other) — Business phone number

FAQ

Industry Context

Stifel Financial Corp. operates in the financial services industry, specifically as a securities broker and dealer.

Regulatory Implications

The company is subject to regulations governing financial institutions and securities markets, as indicated by its SEC filings.

What Investors Should Do

1. Analyze the consolidated financial statements for the fiscal year ended December 31, 2023.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers.
3. Examine the 'Risk Factors' section to understand potential challenges and uncertainties facing the company.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-16: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings for earlier periods.

Key Financial Figures

• $0.15 — ding - February 1, 2024 Common Stock, $0.15 par value per share ( SF ) New York S
• $11.7 billion — addition, client assets have grown from $11.7 billion at December 31, 1997 to $444.3 billion
• $444.3 billion — m $11.7 billion at December 31, 1997 to $444.3 billion at December 31, 2023. Through organic g

Filing Documents

• sf-20231231.htm (10-K) — 7733KB
• sf-ex4_11.htm (EX-4.11) — 164KB
• sf-ex10_36.htm (EX-10.36) — 61KB
• sf-ex21.htm (EX-21) — 93KB
• sf-ex23.htm (EX-23) — 3KB
• sf-ex31_1.htm (EX-31.1) — 13KB
• sf-ex31_2.htm (EX-31.2) — 13KB
• sf-ex32_1.htm (EX-32.1) — 5KB
• sf-ex32_2.htm (EX-32.2) — 6KB
• sf-ex97.htm (EX-97) — 51KB
• img90490872_0.jpg (GRAPHIC) — 70KB
• 0000950170-24-016475.txt (&nbsp;) — 32158KB
• sf-20231231.xsd (EX-101.SCH) — 2787KB
• sf-20231231_htm.xml (XML) — 8324KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 23 Item 1C. Cybersecurity 23 Item 2.

Properties

Properties 25 Item 3.

Legal Proceedings

Legal Proceedings 26 Item 4. Mine Safety Disclosures 26 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 27 Item 6. Reserved 29 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 61 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 65 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 122 Item 9A.

Controls and Procedures

Controls and Procedures 122 Item 9B. Other Information 124 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 124 Part III Item 10. Directors, Executive Officers, and Corporate Governance 125 Item 11.

Executive Compensation

Executive Compensation 125 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 125 Item 13. Certain Relationships and Related Transactions, and Director Independence 126 Item 14. Principal Accounting Fees and Services 126 Part IV Item 15. Exhibits and Financial Statement Schedules 127 Item 16. Form 10-K Summary 131

Signatures

Signatures 132 PAR T I Certain statements in this report may be considered forward-looking. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. These forward-looking statements cover, among other things, statements made about general economic, political, regulatory, and market conditions, the investment banking and brokerage industries, our objectives and results, and also may include our belief regarding the effect of various legal proceedings, management expectations, our liquidity and funding sources, counterparty credit risk, or other similar matters. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated, including those factors discussed below under "Item 1A – Risk Factors" as well as those discussed in "Item 7 – Management's Discussion and Analysis of Financial Condition and Results of Operations – Economic and Market Conditions" of this Form 10-K. Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. In addition, our past results of operations do not necessarily indicate our future results. We undertake no obligation to publicly release any revisions to the forward-looking statements or reflect events or circumstances after the date of this document.

. BUSINESS

ITEM 1 . BUSINESS Stifel Financial Corp. is a Delaware corporation and a financial holding company headquartered in St. Louis. We were organized in 1983. Our principal subsidiary is Stifel, Nicolaus & Company, Incorporated ("Stifel"), a full-service retail and institutional wealth management and investment banking firm. Stifel is the successor to a partnership founded in 1890. Our other subsidiaries include Stifel Independent Advisors, LLC ("SIA"), an independent contractor broker-dealer firm; Keefe, Bruyette & Woods, Inc. ("KBW"), a broker-dealer firm; Stifel Nicolaus Europe Limited ("SNEL"), our European subsidiary; Stifel Nicolaus Canada Inc. ("SNC"), our Canadian subsidiary; Stifel Bank & Trust and Stifel Bank, retail and commercial banks, Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. (collectively, "Stifel Trust"), our trust companies (collectively "Stifel Bancorp"); and 1919 Investment Counsel, LLC, an asset management firm. Unless the context requires otherwise, the terms "the Company," "our company," "we," and "our," as used herein, refer to Stifel Financial Corp. and its subsidiaries. We have a 133-year operating history and have built a diversified business serving private clients, institutional investors, and investment banking clients located across the country. Our principal activities are: Private client services, including securities transaction and financial planning services; Institutional equity and fixed income sales, trading and research, and municipal finance; Investment banking services, including mergers and acquisitions, public offerings, and private placements; and Retail and commercial banking, including personal and commercial lending programs. Our core philosophy is based upon a tradition of trust, understanding, and studied advice. We attract and retain experienced professionals by fostering a culture of entrepreneurial, long-term thinking. We provide our private, institutional, and corporate clients qu

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View this 10-K filing on SEC EDGAR