Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 368

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 368
---
 Amounts available for offset

        23,691

        23,441

        14,556

        61,688

        Collateral pledged

        111,981

        394,203

        22,661

        528,845

        Net amount
         
        $
        (21
        )
         
        $
        —

        $
        (81,434
        )
         
        $
        (81,455
        )
       
       (4)Securities lending transactions are included in payables to brokers, dealers, and clearing organizations on the consolidated statements of financial condition. See Note 4 in the notes to consolidated financial statements for additional information on payables to brokers, dealers, and clearing organizations.(5)Collateral pledged includes the fair value of securities pledged to the counterparty. These securities are included on the consolidated statements of financial condition unless we default. Collateral pledged by our company to the counterparty includes U.S. government agency securities, U.S. government securities, and corporate fixed income securities with market values of $596.5 million and $425.9 million at December 31, 2024 and 2023, respectively.(6)Collateral pledged includes the fair value of securities pledged to the counterparty. The fair value of securities pledged as collateral was $21.3 million and $19.1 million at December 31, 2024 and 2023, respectively.

NOTE 17 – Commitments, Guarantees, and ContingenciesBroker-Dealer Commitments and GuaranteesIn the normal course of business, we enter into underwriting commitments. Settlement of transactions relating to such underwriting commitments, which were open at December 31, 2024, had no material effect on the consolidated financial statements.As a part of our fixed income public finance operations, we enter into forward commitments to purchase agency mortgage-backed securities. In order to hedge the market interest rate risk to which we would otherwise be exposed between the date of the commitment and date of sale of the mortgage-backed securities, we enter into to be announced (“TBA”) security contracts with investors for generic mortgage-backed securities at specific rates and prices to be delivered on settlement dates in the future. We may be subject to loss if the timing of, or the actual amount of, the mortgage-backed security differs significantly from the term and notional amount of the TBA security contract to which we entered. These TBA securities and related purchase commitment are accounted for at fair