Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 437

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 437
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missions and floor brokerage

    35,665

    32,886

    31,769

    8.5

    3.5

    2.2

    2.7

    2.1

    Other operating expenses

    179,761

    163,185

    148,296

    10.2

    10.0

    11.4

    13.3

    9.7

    Total non-interest expenses

    1,369,433

    1,224,217

    1,281,885

    11.9

    (4.5
    )

    86.0

    99.8

    83.5

    Income before income taxes
     
    $
    223,400

    $
    2,100

    $
    254,132

    nm

    (99.2
    )%

    14.0
    %

    0.2
    %

    16.5
    %

(1)Includes asset management revenues.

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

NET REVENUES

For the year ended December 31, 2024, Institutional Group net revenues increased 29.9% to $1.6 billion from $1.2 billion in 2023. The increase in net revenues is primarily attributable to higher capital-raising, advisory, and transactional revenues.

Commissions – For the year ended December 31, 2024, commission revenues increased 8.2% to $247.3 million from $228.6 million in 2023.

Principal transactions – For the year ended December 31, 2024, principal transactions revenues increased 28.4% to $360.9 million from $281.2 million in 2023.

Transactional revenues – For the year ended December 31, 2024, transactional revenues increased 19.3% to $608.2 million from $509.8 million in 2023.

For the year ended December 31, 2024, fixed income transactional revenues increased 27.4% to $393.0 million from $308.4 million in 2023. The increase in fixed income transactional revenues is primarily attributable to increased activity as a result of market