Stifel(SF)2025-02-26 21:01Financial Performance - The company's daily Value-at-Risk (VaR) for trading portfolios was 5,259,000 at its lowest during the year ended December 31, 2024, with an average of 20.8 billion, with loans accounting for 6.6 billion[515]. - The company's interest-bearing liabilities amounted to 8.0 billion for the 0-6 months repricing period[515]. Risk Management - The company actively manages interest rate risk by matching assets and liabilities with similar cash flow and repricing time frames[514]. - Credit risk is managed through position limits for counterparties and regular credit reviews, ensuring exposure is monitored[517]. - The company is exposed to operational risk, which includes potential losses from inadequate internal processes and systems[524]. - The company engages in various trading and brokerage activities, with a focus on managing market, credit, and operational risks[502]. Regulatory Compliance - The company is subject to extensive regulation by the SEC, FINRA, and state securities regulators, as well as the Federal Reserve for bank holding companies[526]. - Stifel Bancorp must adhere to various regulatory capital requirements administered by the FDIC and state banking authorities, with failure to meet these requirements potentially leading to material effects on financial statements[527]. Economic Factors - The company's assets are primarily monetary, including cash and securities inventory, which are generally liquid and not significantly affected by inflation[528]. - Inflation impacts various expenses such as employee compensation, communications, and office supplies, which may not be recoverable in service pricing[528]. - Rising interest rates due to inflation may adversely affect the company's financial position and results of operations[528].