Slide 1: Stifel Financial Corp. 1st Quarter 2010 Earnings Conference Call
Stifel Financial Corp. 1st Quarter 2010 Earnings Conference Call April 29, 2010
Slide 2: Forward-Looking Statements
Forward-Looking Statements
Slide 3: Additional Information and Where to Find It
Additional Information and Where to Find It
Slide 4: Chairman's Comments
Chairman’s Comments “T am very pleased with our first quarter results particularly in light of the fact that net revenues, net income and earnings per share are second only to our previous record for net revenue, net income and earnings per share set in our 2009 fourth quarter. Our Global Wealth Man
Slide 5: 1st Quarter 2010 Highlights
1st Quarter 2010 Highlights > Net revenues of $312 million, a 42% increase over the 1* quarter of 2009 (1Q09) and a 2% decrease from the 4" quarter of 2009 (4Q09). >» The Global Wealth Management (GWM) segment posted net revenues of $197 million, a 73% increase over 1Q09 and a 7% increase over 4Q09.
Slide 6: Stifel Financial Corp. Income Statements
Stifel Financial Corp. Income Statements
Slide 7: Source of Revenues
Source of Revenues (8 in thousands) Revenues Principal transactions Commissions Asset mgt and service fees Investment banking Other Total operating revenues Interest revenue Total revenues Interest expense Netrevenues * Percentage is not meaningful Quarter Ended ‘of Net % of Net Revenues Revenues %
Slide 8: Principal Transactions
Principal Transactions Quarter Ended (8 in thousands) % % 331M0 3/31/09 Change | 12/31/09 Change Principal transactions: Taxable debt $ 64,691 $ 65,156 0.7%) /$ 66,210 2.3%) Municipal debt 16,842 16.455 2.4% 16,102 4.8% Equities 22,284 8,570 160.0% 21,413 5.5% Other 13,603 7,097 91.7% 12,985 4.8% $
Slide 9: Stifel Income Statements Non-Interest Expenses
Stifel Income Statements Non-Interest Expenses
Slide 10: Segment Comparison
Segment Comparison Quarter Ended % % (8 in thousands) 03810 03/31/09 Change 128.1109 Change Net revenues: Global Wealth Management § 197,195 § 114,164 72.7%|$ 184,704 68% Institutional Group 113,292 105,472 7A% 133,305 (15.0%) Other 1543 345 _-3A7.3% 1,458 5.8% $312.0390 ~§ 219,987 418% [$F 319467 (
Slide 11: YTD Segment Comparison (Excludes Acquisitions)
YTD Segment Comparison (Excludes Acquisitions)
Slide 12: Global Wealth Management Income Statements
Global Wealth Management Income Statements
Slide 13: Stifel Bank & Trust Income Statements
Stifel Bank & Trust Income Statements
Slide 14: Stifel Bank & Trust Balance Sheet
Stifel Bank & Trust Balance Sheet > — Assets increased 122% to $1,115.3 million at March 31, 2010 fromm $503.3 million at March 31, 2009 » — Investment portfolio increased $495.5 million to $549.1 million at March 31, 2010, primarily as a result of the expansion of our investment strategy Agency MBS
Slide 15: Institutional Group Income Statement
Institutional Group Income Statement
Slide 16: Institutional Group Revenues
Institutional Group Revenues
Slide 17: Statement of Financial Condition Graphs
Statement of Financial Condition Graphs
Slide 18: Capital Structure As of March 31, 2010
Capital Structure As of March 31, 2010
Slide 19: Level 3 Assets
Level 3 Assets Carrying Value (8 in thousands) 3131110 12/34/09 Change Auction Rate Securities (ARS) $ 75691 $ 56,003 35.2% Stifel Bank & Trust Investments - 2,693 (100.0%) Trading Securities 7,042 1,243 466.5% Other Investments 5,418 5,426 (0.199 Level 3 assets (excluding ARS) 12,460 9,262 366.4% T
Slide 20: Other Financial Data
Other Financial Data Total assets (000s): Stifel Nicolaus and Stifel Financial $ 2,112,054 Stifel Bank Shareholders’ equity (000's) Book value per share Financial advisors* Full-time associates Locations Total client assets (000's) * Includes all retail Financial Advisors, As of %Change Qi 10 vs. Q1
Slide 21: Announced Merger of Stifel Financial Corp. and Thomas Weisel Partners
Announced Merger of Stifel Financial Corp. and Thomas Weisel Partners
Slide 22: Summary of Key Transaction Terms
Summary of Key Transaction Terms
Slide 23: Transaction Financials ($ in 000s, except per share data)
Transaction Financials ($ in 000s, except per share data)
Slide 24: Why this Combination Makes Sense
Why this Combination Makes Sense
Slide 25: Highly Complementary Investment Banking Industry Coverage: Capital Markets Activity 2005-2009
Highly Complementary Investment Banking Industry Coverage Capital Markets Activity Between 2005 - 2009
Slide 26: Highly Complementary Investment Banking Industry Coverage: Completed M&A 2005-2009
Highly Complementary Investment Banking Industry Coverage Completed M&A Transactions Between 2005 - 2009
Slide 27: Creates the Largest U.S. Equity Research Platform
Creates the Largest U.S. Equity Research Platform
Slide 28: Stifel's Track Record in Integrating Transactions: Low Risk Opportunity
Stifel's Track Record in Integrating Transactions: Low Risk Opportunity
Slide 29: Driving Value for Stakeholders
Driving Value for Stakeholders
Slide 30: Pro Forma Effect of Unit Awards Modification
Pro Forma Effect of Unit Awards Modification
Slide 31: Q&A - Questions and Answers
Q&A - Questions and Answers