Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 201

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 201
---
79% Cumulative Trust Preferred Securities. The trust preferred securities were offered by Stifel Financial Capital Trust III (the “Trust III”), a non-consolidated wholly owned subsidiary of our company. The trust preferred securities mature on June 6, 2037, but may be redeemed early by our company, and in turn, Trust III would call the debenture. Trust III requires quarterly distributions of interest to the holders of the trust preferred securities. Distributions are payable at a floating interest rate equal to three-month LIBOR, or an appropriate alternative reference rate at the time that LIBOR ceases to be published, plus 1.85% per annum.(3)On June 28, 2007, we completed a private placement of $35.0 million of 6.78% Cumulative Trust Preferred Securities. The trust preferred securities were offered by Stifel Financial Capital Trust IV (the “Trust IV”), a non-consolidated wholly owned subsidiary of our company. The trust preferred securities mature on September 6, 2037, but may be redeemed early by our company, and in turn, Trust IV would call the debenture. Trust IV requires quarterly distributions of interest to the holders of the trust preferred securities. Distributions are payable at a floating interest rate equal to three-month LIBOR, or an appropriate alternative reference rate at the time that LIBOR ceases to be published, plus 1.85% per annum.

108

NOTE 16 – Disclosures About Offsetting Assets and LiabilitiesThe following table provides information about financial assets and derivative assets that are subject to offset as of December 31, 2024 and 2023 (in thousands): 

        As of December 31, 2024

        Securities borrowing (1)

        Reverse repurchase agreements (2)

        Interest rate contracts (3)

        Total

        Gross amounts of recognized assets
         
        $
        269,831

        $
        528,976

        $
        110,814

        $
        909,621

        Gross amounts offset in the statement of financial condition

        —

        —

        —

        —

        Net amounts presented in the statement of financial condition

        269,831

        528,976

        110,814

        909,621

        Gross amounts not offset in the statement of financial condition:

        Amounts available for offset

        (74,488
        )

        (63,771
        )

        (