Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 355

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 355
---
 $
        198,982

        $
        (168,781
        )
         
        $
        1,258,245

        $
        (170,647
        )
         
        $
        1,457,227

      At December 31, 2024, the amortized cost of 251 securities classified as available for sale exceeded their fair value by $170.6 million, of which $168.8 million related to investment securities that had been in a loss position for 12 months or longer. The total fair value of these investments at December 31, 2024, was $1.5 billion, which was 92.0% of our available-for-sale portfolio.Credit Quality IndicatorsThe Company uses Moody credit ratings as the primary credit quality indicator for its held-to-maturity debt securities. Each security is evaluated at least quarterly. The indicators represent the rating for debt securities, as of the date presented, based on the most recent assessment performed. The following table shows the amortized cost of our held-to-maturity securities by credit quality indicator at December 31, 2024 (in thousands):

        AAA

        AA

        C

        Total

        Held-to-maturity securities

        Asset-backed securities
         
        $
        2,989,195

        $
        3,535,084

        $
        675

        $
        6,524,954

NOTE 8 – Bank LoansThe following table presents the balance and associated percentage of each major loan category in our bank loan portfolio at December 31, 2024 and 2023 (in thousands, except percentages):

        December 31, 2024

        December 31, 2023

        Balance

        Percent

        Balance

        Percent

        Residential real estate
         
        $
        8,565,193

        41.0
        %
         
        $
        8,047,647

        41.4
        %

        Commercial and industrial

        4,062,029

        19.5

        3,566,987

        18.3

        Fund banking

        3,854,222

        18.5

        3,633,126

        18.7

        Securities-based loans

        2,389,593

        11.4

        2,306,455

        11.9