Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 281

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 281
---
 higher non-compensation operating expenses.

51

Results of Operations – Other Segment

The Other segment includes costs associated with investments made in the Company’s infrastructure and control environment and expenses related to the Company’s acquisition strategy. The following table presents financial information for our Other segment for the periods presented broken out between infrastructure growth-related expenses and acquisition-related expenses (in thousands, except percentages): 

    For the Year Ended December 31,

    Percentage Change

    2024

    2023

    2022

    2024 vs. 2023

    2023 vs. 2022

    Net revenues
     
    $
    93,527

    $
    72,665

    $
    29,556

    28.7
    %

    145.9
    %

    Non-interest expenses:

    Compensation and benefits:

    Core business-related

    318,647

    265,550

    248,936

    20.0

    6.7

    Acquisition-related

    32,832

    32,150

    39,114

    2.1

    (17.8
    )

    Total compensation and benefits

    351,479

    297,700

    288,050

    18.1

    3.4

    Other operating expenses:

    Core business-related

    206,972

    255,137

    150,160

    (18.9
    )

    69.9

    Acquisition-related

    37,974

    31,058

    27,933

    22.3

    11.2

    Total other operating expenses

    244,946

    286,195

    178,093

    (14.4
    )

    60.7

    Total non-interest expenses

    596,425

    583,895

    466,143

    2.1

    25.3

    Loss before income taxes
     
    $
    (502,898
    )
     
    $
    (511,230
    )
     
    $
    (436,587
    )

    (1.6
    )%

    17.1
    %

For the year ended December 31, 2024, non-interest expenses increased