Slide 1: 1st Quarter 2016 Financial Results Presentation
1st Quarter 2016 Financial Results Presentation May 9, 2016
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: 1st Quarter Highlights
1st Quarter Highlights 1st Quarter Highlights: Record total net revenue of $620 mil. up 7% sequentially & 11% Y/Y Record total Global Wealth Management net revenue of $380 mil. up 9% sequentially & 15% Y/Y Record total Stifel Bank & Trust net revenue of $53 mil. up 34% sequentially & 49% Y/Y Total a
Slide 4: Revenue & Segment Results
Revenue & Segment Results
Slide 5: Core Revenue Growth
Core Revenue Growth Total net revenue of $620 mil. up 7% sequentially and 11% Y/Y driven by: Brokerage revenue increased 8% sequentially & 14% Y/Y Asset Management revenue increased 12% sequentially & 27% Y/Y Net Interest Income increased 35% sequentially & 64% Y/Y Global Wealth Management represent
Slide 6: Global Wealth Management
Global Wealth Management Total net revenue in the GWM segment was $380 mil., up 9% sequentially & 15% Y/Y Brokerage revenue increased 4% sequentially & 10% Y/Y Asset management revenue increased 11% sequentially & 27% Y/Y Net interest income increased 23% sequentially & 37% Y/Y 2,849 total FAs $232
Slide 7: Stifel Bank & Trust
Stifel Bank & Trust Total net revenue at Stifel Bank & Trust was $53.4 mil., up 34% sequentially & 49% Y/Y Total bank loans of $3.7 bil. increased 8% sequentially & 49% Y/Y Total investment securities of $4.2 bil. increased 19% sequentially & 60% Y/Y NIM of 2.48% was down 2bps sequentially & flat Y/
Slide 8: Institutional Group
Institutional Group Total net revenue of $ 241 mil. was down 2% sequentially but up 1% Y/Y Investment banking revenue of $92 mil. declined 1% sequentially & 20% Y/Y Advisory revenue of $47 mil. increased 54% sequentially but declined 4% Y/Y Brokerage revenue of $146 mil. increased 14% sequentially &
Slide 9: Institutional Brokerage & Investment Banking
Institutional Brokerage & Investment Banking Brokerage revenue of $146 mil. Equity brokerage revenue of $62 mil. was up 14% sequentially & 1% Y/Y Fixed income brokerage revenue of $84 mil. was up 14% sequentially and 38% Y/Y Underwriting revenue of $45 mil. declined 27% sequentially & 31% Y/Y Equity
Slide 10: Expense & Balance Sheet
Expense & Balance Sheet
Slide 11: Stifel Financial Corp. Results Three months ended March 31, 2016
Stifel Financial Corp. Results Three months ended March 31, 2016 _________________________________________________________ (1) (2) (2) Adjustments consist primarily of acquisition related expenses, which management believes are duplicative and will be eliminated, stock-based compensation and other e
Slide 12: Non-GAAP Deal Integration Costs
Non-GAAP Deal Integration Costs
Slide 13: Balance Sheet & Capital Return
Balance Sheet & Capital Return Net Interest Income Drivers Balance Sheet: Total assets increased to $14.2 bil. up 7% sequentially & 52% Y/Y Average interest earning assets increased to $9.7 bil. up 24% sequentially & 51% Y/Y NIM increased to 201 bps , up 5 bps sequentially & 16 bps Y/Y. Tier 1 lever
Slide 14: Interest Rate Sensitivity
Interest Rate Sensitivity Maintaining annual guidance of $66 mil. incremental pre-tax income for first 100bps Fed Funds increase. First 25 bps increase in December Generated incremental $3.7 mil. of pre-tax income in 1Q16 vs. 4Q15 in Asset Management & Service Fee revenue from the insured bank depos
Slide 15: Outlook & Key Drivers
Outlook & Key Drivers
Slide 16: Balance Sheet Growth
Balance Sheet Growth $18,000 $15,000 514,214 sizass 2 $9518 $9373 10449 59.359 2008 «= 2009 2010 2011 Ter Leverage 3 305 W153 165 15 183 165 166 116 81 Ter TRiskBased Capital 494 03 76 66 67 50 286 BA 294 63 13 11 Rak Weighting Asets Density 69% 6% @7% 570% TR SBIR BON LBS LOS HSS HNN 5008, STIFEL
Slide 17: Core & GAAP EPS to Converge As Deal Charges Realized
Core & GAAP EPS to Converge As Deal Charges Realized Deal related pre-tax expenses totaled $46.5 mil. and $152 mil. in 2014 and 2015, respectively. The increase in 2015 resulted in a $1.24 differential between Core EPS and GAAP EPS. $141 mil. of non-core deal related expenses forecasted for 2016 wit
Slide 18: Q&A
Q&A