Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 612

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 612
---
        $
        103,548

        Trade names

        29,109

        22,210

        28,258

        20,265

        Acquired technology

        19,903

        9,158

        18,314

        3,447

        Non-compete agreements

        10,152

        8,559

        9,825

        7,546

        Investment banking backlog

        8,913

        7,327

        8,913

        5,758

        Core deposits

        8,615

        8,546

        8,615

        8,145

        $
        285,293

        $
        171,719

        $
        281,988

        $
        148,709

      Amortization expense related to intangible assets was $23.6 million, $20.9 million, and $19.6 million for the years ended December 31, 2024, 2023, and 2022, respectively, and is included in other operating expenses in the consolidated statements of operations. The weighted-average remaining lives of the following intangible assets at December 31, 2024, are: customer relationships, 8.9 years; trade names, 6.1 years; non-compete agreements, 4.0 years; acquired technology, 8.4 years; core deposits, 0.5 years; and investment banking backlog, 4.1 years. We have an intangible asset that is not subject to amortization and is, therefore, not included in the table below. As of December 31, 2024, we expect amortization expense in future periods to be as follows (in thousands):

        Fiscal year

        2025
         
        $
        21,563

        2026

        17,458

        2027

        13,698

        2028

        12,653

        2029

        11,532

        Thereafter

        34,552

        $
        111,456

NOTE 11 – Borrowings and Federal Home Loan Bank AdvancesOur short-term financing is generally obtained through short-term bank line financing on an uncommitted, secured basis, securities lending arrangements, repurchase agreements, advances from the Federal Home Loan Bank, term