Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 616

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 616
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 interest rate on deposits was 3.22% and 2.66% at December 31, 2024 and 2023, respectively. Certificates of deposit, of $0.1 million and greater, due within one year at December 31, 2024, was $203.6 million.At December 31, 2024 and 2023, related party deposits, primarily interest-bearing and time deposits of executive officers, directors, and their affiliates, were $2.5 million and $9.0 million, respectively. Brokerage customers’ deposits were $27.1 billion and $24.1 billion, respectively. 

106

NOTE 14 – Derivative Instruments and Hedging ActivitiesWe manage the interest rate risk associated with our derivative transactions with customers by entering into offsetting positions with other derivative dealers, resulting in a substantially “matched book” portfolio. These interest rate contracts are not designated as hedging instruments for accounting purposes. Credit risk associated with its derivative transactions is managed through a variety of measures, including initial and ongoing periodic underwriting of its counterparties’ creditworthiness, establishment of customer credit limits, and collateral maintenance requirements for customer exposures that exceed certain preset thresholds.Our policy is not to offset fair value amounts recognized for derivative instruments and fair value amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral arising from derivative instruments recognized at fair value executed with the same counterparty under master netting arrangements.The following tables provide the notional values and fair values of our derivative instruments as of December 31, 2024 and 2023 (in thousands):

        December 31, 2024

        Derivative Assets

        Derivative Liabilities

        Notional value

        Interest rate contracts
         
        $
        110,814

        $
        110,825

        $
        1,984,608

        December 31, 2023

        Derivative Assets

        Derivative Liabilities

        Notional value

        Interest rate contracts
         
        $
        118,668

        $
        118,651

        $
        1,994,919

      The scheduled maturities of our derivative instruments as of December 31, 2024, are as follows (in thousands):

        Within one year
         
        $
        219,766

        One to three years

        876,090

        Three to five years

        478,716

        Five to