Slide 1: 3rd Quarter 2012 Financial Results Presentation
Exhibit 99.2 rd 3 Quarter 2012 Financial Results Presentation November 5, 2012
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: Chairman's Comments
Chairman’s Comments “I am pleased with our third quarter results, which included record net revenues, as well as with our record net revenues and net income for the first nine months of 2012. Our results highlight the soundness of our balanced business model, particularly against a challenging econo
Slide 4: Financial Results
Financial Results
Slide 5: Stifel Financial Corp. Results (Three Months)
Stifel Financial Corp. Results Three months ended September 30, 2012 Three Months Ended ($ in thousands, except per share amounts) 9/30/12 (1) 9/30/11 % Change 6/30/12 % Change Net revenues $ 420,080 $ 334,214 25.7% $ 374,407 12.2% Compensation and benefits 267,652 210,573 27.1% 239,374 11.8% Non-co
Slide 6: Stifel Financial Corp. Results (Nine Months)
Stifel Financial Corp. Results Nine months ended September 30, 2012 Nine Months Ended (1) ($ in thousands, except per share amounts) 9/30/12 9/30/11 % Change Net revenues $ 1,194,820 $ 1,059,684 12.8% Compensation and benefits 761,730 671,678 13.4% Non-comp operating expenses 268,285 294,424 (8.9%)
Slide 7: Source of Revenues
Source of Revenues Quarter Ended Nine Months Ended % % ($ in thousands) 9/30/12 9/30/11 Change 6/30/12 % Change 9/30/12 9/30/11 Change Commissions $ 127,966 $ 143,243 (10.7%) $ 127,427 0.4% $ 378,696 $ 437,344 (13.4%) Principal transactions 102,979 76,650 34.3% 91,564 12.5% 310,776 249,250 24.7% Cap
Slide 8: Brokerage Revenues
Brokerage Revenues Quarter Ended Nine Months Ended % % % ($ in thousands) 9/30/12 9/30/11 Change 6/30/12 Change 9/30/12 9/30/11 Change Principal transactions: Taxable debt $ 55,908 $ 41,871 33.5% $ 47,831 16.9% $ 165,172 $ 136,310 21.2% Municipal debt 24,412 19,335 26.3% 23,851 2.4% 70,089 57,722 21
Slide 9: Non-Interest Expenses (Three Months)
Non-Interest Expenses Three months ended September 30, 2012 Quarter Ended % of Net revenues ($ in thousands) 9/30/12 9/30/11 % Change 6/30/12 % Change 9/30/12 9/30/11 6/30/12 Compensation and benefits 247,964 193,818 27.9% 219,004 13.2% 59.0% 58.0% 58.5% (1) Transitional pay 19,688 16,755 17.5% 20,3
Slide 10: Non-Interest Expenses (Nine Months)
Non-Interest Expenses Nine months ended September 30, 2012 Nine Months Ended % of Net revenues ($ in thousands) 9/30/12 9/30/11 % Change 9/30/12 9/30/11 Compensation and benefits 703,300 618,556 13.7% 58.9% 58.5% (1) Transitional pay 58,430 53,122 10.0% 4.9% 5.0% Total compensation and benefits 761,
Slide 11: Segment Comparison
Segment Comparison Quarter Ended Nine Months Ended % % % ($ in thousands) 9/30/12 9/30/11 Change 6/30/12 Change 9/30/12 9/30/11 Change Net revenues: Global Wealth Management$ 251,728 $ 219,489 14.7% $ 240,029 4.9% $ 740,105 $ 683,589 8.3% (1) Institutional Group 169,679 113,259 49.8% 135,297 25.4% 4
Slide 12: Global Wealth Management
Global Wealth Management Quarter Ended Nine Months Ended ($ in thousands) 9/30/12 9/30/11 % Change 6/30/12 % Change 9/30/12 9/30/11 % Change Commissions $ 89,393 $ 92,029 (2.9%) $ 88,423 1.1% $ 268,839 $ 287,384 (6.5%) Principal transactions 58,801 48,836 20.4% 55,628 5.7% 173,474 156,262 11.0% Asse
Slide 13: Stifel Bank & Trust
Stifel Bank & Trust (an operating unit of GWM) For the Three Months Ended 9/30/12 9/30/11 % Change 6/30/12 % Change (in 000s, except percentages) Net revenues $ 19,862 $ 17,584 13.0 $ 18,997 4.6 Income before income taxes 18,063 13,240 36.4 14,769 22.3 As of As of 9/30/12 9/30/11 % Change 6/30/12 %
Slide 14: Institutional Group
Institutional Group Quarter Ended Nine Months Ended ($ in thousands) 9/30/12 9/30/11 % Change 6/30/12 % Change 9/30/12 9/30/11 % Change Commissions $ 38,574 $ 51,214 (24.7%) $ 39,004 (1.1%) $ 109,858 $ 149,960 (26.7%) Principal transactions 44,178 27,815 58.8% 35,936 22.9% 137,302 92,988 47.7% Inves
Slide 15: Institutional Group Revenues
Institutional Group Revenues Quarter Ended Nine Months Ended ($ in thousands) 9/30/12 9/30/11 % Change 6/30/12 % Change 9/30/12 9/30/11 % Change Institutional brokerage: Equity $ 37,956 $ 47,185 (19.6%) $ 38,466 (1.3%) $ 120,594 $ 141,278 (14.6%) Fixed income 44,796 31,844 40.7% 36,474 22.8% 126,566
Slide 16: Financial Condition
Financial Condition
Slide 17: Capital Structure
Capital Structure As of September 30, 2012 (in thousands, except ratios) ($ in thousands) Total Assets $ 6,139,530 Stockholders' Equity $ 1,427,124 Debentures to Stifel Financial Capital Trusts II, III, & IV $ 82,500 6.70% Senior Notes due 2022 $ 175,000 Total Capitalization $ 1,684,624 Ratios: Debt
Slide 18: Other Financial Data
Other Financial Data As of As of 9/30/12 9/30/11 % Change 6/30/12 % Change Total assets (000s): Stifel Nicolaus & Stifel Financial $ 2,911,509 $ 2,630,993 10.7% $ 3,079,564 (5.5%) Stifel Bank 3,228,021 2,311,371 39.7% 3,058,971 5.5% Total assets $ 6,139,530 $ 4,942,364 24.2% $ 6,138,535 0.0% Total s
Slide 19: Level 3 Assets
Level 3 Assets Carrying Value ($ in thousands) 9/30/12 12/31/11 (1) Auction Rate Securities (ARS) $ 162,761 $ 181,801 Stifel Bank & Trust Investments 11,529 12,000 Trading Securities 3,471 3,742 (2) Other Investments 36,717 37,033 Level 3 assets (excluding ARS) 51,717 52,775 Total Level 3 assets $ 2
Slide 20: Investments
2012 Investments
Slide 21: 2012 Legacy Business vs. Investments
2012 Legacy Business vs. Investments 2012 Investments include hiring 132 financial advisors and 65 fixed income sales and trading professionals 1 YTD . As Reported ($ in thousands, except per share amounts) 9M2012 Investments 2012 - Comparision Legacy 2 Investments Total 9m2012 Q3 Q2 Q1 Net revenues
Slide 22: Q&A
Q&A