Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 503

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 503
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 $151.1 million from $144.2 million in 2022 driven by an increase in our corporate debt issuance business.

Advisory revenue decreased 34.8% to $465.6 million for the year ended December 31, 2023, from $714.6 million in 2022. The decrease is primarily attributable to lower levels of completed advisory transactions during 2023.

Asset management – For the year ended December 31, 2023, asset management revenues increased 2.9% to $1.30 billion from $1.26 billion in 2022. The increase is primarily attributable to higher asset values and strong recruiting. Please refer to “Asset management” in the Global Wealth Management segment discussion for information on the changes in asset management revenues.

33

Other income – For the year ended December 31, 2023, other income decreased 55.6% to $8.7 million from $19.7 million in 2022. The decrease is primarily attributable to losses on the sale of investments in the first quarter of 2023 and a decrease in loan origination fees.

34

NET INTEREST INCOME

The following tables present average balance data and operating interest revenue and expense data, as well as related interest yields for the periods indicated (in thousands, except rates): 

    For the Year Ended

    December 31, 2024

    December 31, 2023
     
    December 31, 2022

    AverageBalance

    InterestIncome/Expense

    AverageInterestRate

    AverageBalance

    InterestIncome/Expense

    AverageInterestRate

    AverageBalance

    InterestIncome/Expense

    AverageInterestRate

    Interest-earning assets:

    Interest-bearing cash and federal funds sold
     
    $
    3,126,654

    $
    164,110

    5.25
    %
     
    $
    2,394,404

    $
    123,363

    5.15
    %
     
    $
    1,346,939

    $
    29,996

    2.23
    %

    Financial instruments owned

    1,126,934

    25,001

    2.22

    895,020

    16,726

    1.87

    1,059,013

    20,545

    1.