Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 535

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 535
---
 interest rate sensitivity of our company’s asset and liability position.

Our assets, consisting mainly of cash or assets readily convertible into cash, are our principal source of liquidity. The liquid nature of these assets provides for flexibility in managing and financing the projected operating needs of the business. These assets are financed primarily by our equity capital, corporate debt, debentures to trusts, client credit balances, short-term bank loans, proceeds from securities lending, repurchase agreements, and other payables. We currently finance our client accounts and firm trading positions through ordinary course borrowings at floating interest rates from various banks on a demand basis, securities lending, and repurchase agreements, with company-owned and client securities pledged as collateral. Changes in securities market volumes, related client borrowing demands, underwriting activity, and levels of securities inventory affect the amount of our financing requirements.

Our bank assets consist principally of available-for-sale and held-to-maturity securities, retained loans, and cash and cash equivalents. Stifel Bancorp’s current liquidity needs are generally met through deposits from brokerage clients and equity capital. We monitor the liquidity of our bank subsidiaries daily to ensure their ability to meet customer deposit withdrawals, maintain reserve requirements, and support asset growth.

As of December 31, 2024, we had $39.9 billion in assets, $12.9 billion of which consisted of cash or assets readily convertible into cash as follows (in thousands):

    December 31,

    2024

    2023

    Cash and cash equivalents
     
    $
    2,648,308

    $
    3,361,801

    Receivables from brokers, dealers, and clearing organizations

    486,465

    414,144

    Securities purchased under agreements to resell

    528,976

    349,849

    Financial instruments owned at fair value

    1,109,507

    834,279

    Available-for-sale securities at fair value

    1,584,598

    1,551,686

    Held-to-maturity securities at amortized cost

    6,524,954

    5,888,798

    Investments

    30,785

    23,189

    Total cash and assets readily convertible to cash
     
    $
    12,913,593

    $
    12,423,746

As of December 31, 2024 and 2023, the amount of