Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 352

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 352
---
 discounted value of contractual cash flows. We have assumed a discount rate based on similar type debt instruments.

93

These fair value disclosures represent our best estimates based on relevant market information and information about the financial instruments. Fair value estimates are based on judgments regarding future expected losses, current economic conditions, risk characteristics of the various instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in the above methodologies and assumptions could significantly affect the estimates.

NOTE 6 – Financial Instruments Owned and Financial Instruments Sold, But Not Yet PurchasedThe components of financial instruments owned and financial instruments sold, but not yet purchased, at December 31, 2024 and 2023, are as follows (in thousands):

        December 31,

        2024

        2023

        Financial instruments owned:

        U.S. government securities
         
        $
        20,045

        $
        32,411

        U.S. government agency securities

        149,479

        106,634

        Agency mortgage-backed securities

        262,629

        159,903

        Asset-backed securities

        113,033

        19,604

        Corporate securities:

        Fixed income securities

        274,207

        237,671

        Equity securities

        50,787

        52,520

        State and municipal securities

        229,342

        223,155

        Other (1)

        69,486

        86,843

        $
        1,169,008

        $
        918,741

        Financial instruments sold, but not yet purchased:

        U.S. government securities
         
        $
        370,373

        $
        273,653

        Agency mortgage-backed securities

        65,946

        52,664

        Corporate securities:

        Fixed income securities

        174,425

        138,359

        Equity securities

        34,437

        21,576

        Other (2)

        1,090

        11,489

        $
        646,271

        $
        497,741

      (1)Includes syndicated loans, non-agency mortgage-backed securities, and sovereign debt.(2)Includes syndicated loans, U.S. government agency securities, sovereign debt, state and municipal