Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 611

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 611
---
,975

        1,060,209

        $
        1,388,243

        $
        6,975

        $
        —

        $
        1,395,218

        December 31,2023

        Adjustments

        Amortization

        December 31,2024

        Intangible assets

        Global Wealth Management
         
        $
        28,687

        $
        —

        $
        (4,302
        )
         
        $
        24,385

        Institutional Group

        104,592

        3,863

        (19,266
        )

        89,189

        $
        133,279

        $
        3,863

        $
        (23,568
        )
         
        $
        113,574

      The adjustments to goodwill and intangible assets, included in our Institutional Group segment, during the year ended December 31, 2024 are primarily attributable to the acquisition of Finance 500, Inc. (“Finance 500”) and CB Resource, Inc. (“CBR”) on August 1, 2024.The allocation of the purchase price of these acquisitions are preliminary and will be finalized upon completion of the analysis of the fair values of the net assets as of the respective acquisition dates and the identified intangible assets. The final goodwill recorded on the consolidated statement of financial condition may differ from that reflected herein as a result of future measurement period adjustments and the recording of identified intangible assets. See Note 3 in the notes to our consolidated financial statements for additional information regarding our acquisitions.

103

The goodwill represents the value expected from the synergies created through the operational enhancement benefits that will result from the integration of each respective business, its employees, and customer base.
Amortizable intangible assets consist of acquired customer relationships, trade names, acquired technology, non-compete agreements, investment banking backlog, and core deposits that are amortized over their contractual or determined useful lives. Intangible assets as of December 31, 2024 and 2023, were as follows (in thousands):

        December 31, 2024

        December 31, 2023

        GrossCarryingValue

        AccumulatedAmortization

        GrossCarryingValue

        AccumulatedAmortization

        Customer relationships
         
        $
        208,601

        $
        115,919

        $
        208,063