Stifel Financial Corporation · NYSE:SF
Stifel Financial — Q3 2016 Earnings Presentation
19 slides from Stifel Financial's earnings presentation, Nov 3, 2016
Slide 1: 3rd Quarter 2016 Financial Results Presentation
3rd Quarter 2016 Financial Results Presentation November 3, 2016 Exhibit 99.1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks, assumptions, and uncertainties, including statements relating to the market opportunity and futu
Slide 3: 3rd Quarter Highlights
3rd Quarter Highlights Completed sale of legacy Sterne Agee Clearing and Independent Broker Businesses Announced the acquisition of City Securities
Slide 4: GAAP & Non-GAAP Reconciliation
GAAP & Non-GAAP Reconciliation
Slide 5: GAAP to Non-GAAP Reconciliation Three months ended September 30, 2016
GAAP to Non-GAAP Reconciliation Three months ended September 30, 2016
Slide 6: Merger Related Expenses & Duplicative Expenses
Merger Related Expenses & Duplicative Expenses *Other Acquisition expense estimates are updated quarterly
Slide 7: Brokerage & Investment Banking Revenue
Brokerage & Investment Banking Revenue
Slide 8: Brokerage & Investment Banking Revenue
Brokerage & Investment Banking Revenue
Slide 9: Balance Sheet & Net Interest Income
Balance Sheet & Net Interest Income
Slide 10: Balance Sheet Growth and Infrastructure Build
139% Growth 92% Growth Infrastructure Build Balance Sheet Growth
Slide 11: Balance Sheet & Net Interest Margin
Net Interest Income Drivers: Total assets increased to $17.2 bil. up 12% sequentially & 84% Y/Y Average interest earning assets increased to $12.2 bil. up 13% sequentially & 93% Y/Y NIM increased to 178 bps , up 7 bps sequentially but down 16 bps Y/Y. NIM at Stifel Bank of 240 bps increased 5bps seq
Slide 12: Segment Results
Segment Results STIFEL
Slide 13: Global Wealth Management
Net revenue in the GWM segment was $390 mil., up 1% sequentially & 9% Y/Y Brokerage revenue declined 4% sequentially & 2% Y/Y Ex. Sterne IBC & Clearing, Brokerage revenue increased 4% sequentially Net interest income increased 18% sequentially & 76% Y/Y 2,280 total FAs down 1% sequentially* $234.5 b
Slide 14: Global Wealth Management Results
(S in thousands) Global Wealth Management 9/30/16 Three Months Ended Change Commissions $ 197,596 $ 134,476 (12.6%) § 127,241 (7.6%) Principal transactions 47,879 34843 37.4% 44,938, Brokerage revenues 165,475 169.319 (2.3%) 172,179 (3.9%) Asset management &service fees 143,152 129.032, 10.9% 144,36
Slide 15: Stifel Bank & Trust
Stifel Bank & Trust Investments $5377 $1,750 | 207% | $4,580 | 17% Mortgage Loans 1819 272 | 569% 1242 | 46% Commercial Loans 1824 1,261 | 45% 1684 | 8% Securities Based Loans 1452 1,004] 45% 1419 | 2% Consumer 93 22 | 323% 36 | 158% Total Loans, net $5,147 $2,526 | 104%| $4,338 | 19% Loans Held for
Slide 16: Institutional Group
Total net revenue of $259 mil. decreased 1% sequentially but increased 11% Y/Y Investment banking revenue of $133 mil. increased 7% sequentially & 22% Y/Y Equity underwriting of $21 mil. decreased 23% sequentially & 33% Y/Y Debt underwriting of $25 mil. decreased 12% sequentially & 11% Y/Y Advisory
Slide 17: Institutional Group Results
Institutional Group an 9/30/16 Grange 9/30/16 Commissions $53,676 S 54864 (2.2%) |S Principal transactions 69,122 31.5% Brokerage revenues 22,798 Capital raising 46,265 (275%) Advisor 86,323 24.8% Investment banking 132,588 (45%) other 3414 25% Net revenues 258.800 232,125 «115% 260,920 (0.8%) 760,9
Slide 18: Department of Labor Fiduciary Rule & Interest Rate Sensitivity Update
Department of Labor Fiduciary Rule & Interest Rate Sensitivity Update
Slide 19: Q&A
Q&A