Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 90

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 90
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 million in 2022. The increase is primarily attributable to higher interest rates and higher interest-bearing liabilities. The average interest-bearing liabilities of Stifel Bancorp increased to $27.3 billion during the year ended December 31, 2023, compared to $25.4 billion in 2022 at average interest rates of 2.66% and 0.59%, respectively.

NON-INTEREST EXPENSES

The following table presents consolidated non-interest expenses for the periods indicated (in thousands, except percentages): 

    For the Year Ended December 31,

    Percentage Change

    2024

    2023

    2022

    2024 vs. 2023

    2023 vs. 2022

    Non-interest expenses:

    Compensation and benefits
     
    $
    2,916,229

    $
    2,554,581

    $
    2,586,232

    14.2
    %

    (1.2
    )%

    Occupancy and equipment rental

    362,402

    339,322

    313,247

    6.8

    8.3

    Communications and office supplies

    194,382

    184,652

    175,135

    5.3

    5.4

    Commissions and floor brokerage

    62,823

    58,344

    57,752

    7.7

    1.0

    Provision for credit losses

    25,402

    24,999

    33,506

    1.6

    (25.4
    )

    Other operating expenses

    480,638

    480,354

    340,451

    0.1

    41.1

    Total non-interest expenses
     
    $
    4,041,876

    $
    3,642,252

    $
    3,506,323

    11.0
    %

    3.9
    %

Year Ended December 31, 2024, Compared With Year Ended December 31, 2023

Compensation and benefits – Compensation and benefits expenses, which are the largest component of our expenses, include salaries, bonuses, transition pay, benefits, amortization of stock-based compensation, employment taxes