Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 408

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 408
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 productive associates is critical to the success of our business. Accordingly, compensation and benefits comprise the largest component of our expenses, and our performance is dependent upon our ability to attract, develop, and retain highly skilled associates who are motivated and committed to providing the highest quality of service and guidance to our clients.

On July 18, 2024, the Company’s 4.25% Senior Notes matured, resulting in the Company's decision to retire the $500.0 million outstanding balance given its significant liquidity position.

On August 1, 2024, the Company acquired Finance 500, Inc. (“Finance 500”) and CB Resource, Inc. (“CBR”), which operate as strategic partners under common ownership. Finance 500 is a brokerage and investment services provider focused on underwriting FDIC-insured Certificates of Deposit and fixed income securities trading. CBR integrates ERM, strategic and capital plan solutions, and industry analytics through its fully integrated tech-enabled platform. Consideration for this acquisition consisted of cash from operations.

On January 6, 2025, the Company announced it signed a definitive agreement to acquire Bryan, Garnier & Co. (“Bryan Garnier”), an independent full-service investment bank focused on European technology and healthcare companies. Bryan Garnier’s product suite includes mergers & acquisitions advisory, private and public growth financing solutions, and institutional sales and execution. Bryan Garnier is headquartered in Europe with offices in Paris, London, Amsterdam, Munich, Oslo, Stockholm, and New York. The transaction is expected to close in the first half of 2025. 

Results for the Year Ended December 31, 2024

For the year ended December 31, 2024, net revenues increased 14.3% to a record $4.97 billion compared to $4.35 billion during the comparable period in 2023. Net income available to common shareholders for the year ended December 31, 2024, increased 43.0% to $694.1 million, or $6.25 per diluted common share, compared to $485.3 million, or $4.28 per diluted common share, in 2023. For the year ended December 31, 2024, our Global Wealth Management segment posted record net revenues.

Our revenue growth for the year ended December 31, 2024, was primarily attributable to higher investment banking revenues, asset management revenues, and transactional revenues, partially offset by lower net interest income.

30

We remain well-position