UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant To Section 13 OR 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 11, 2011
STIFEL FINANCIAL CORP.
(Exact name of registrant as specified in its charter)
Delaware |
001-09305 |
43-1273600 |
One Financial Plaza
501 North Broadway
St. Louis, Missouri 63102-2102
(Address of principal executive offices, including zip code)
(Registrant's telephone number, including area code) (314) 342-2000
Not Applicable |
||
(Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
Stifel Financial Corp. Finalizes Purchase of Depfa Bank Notes
On August 11, 2011, Stifel Financial Corp. (the "Company") (NYSE: SF) announced that it has finalized a definitive agreement to purchase notes in a face amount of approximately $162.5 million from Depfa Bank plc.
A copy of the press release is attached as exhibit 99.1 hereto and is incorporated herein by reference.
The information in Item 8.01 of this Report, including the information contained in Exhibit 99.1, shall be deemed "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) |
Exhibits. |
Exhibit Number |
Description of Exhibit |
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99.1 | Press release dated August 11, 2011. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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STIFEL FINANCIAL CORP. | |
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Date: August 11, 2011 |
By: |
/s/ Ronald J. Kruszewski |
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Ronald J. Kruszewski |
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Chairman, President and Chief Executive Officer |
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EXHIBIT INDEX
Exhibit Number |
Description of Exhibit |
99.1 |
Press release dated August 11, 2011. |
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Exhibit 99.1
STIFEL FINANCIAL CORP. FINALIZES PURCHASE OF DEPFA BANK NOTES
ST. LOUIS, August 11, 2011 - Stifel Financial Corp. (NYSE: SF) today announced that it has finalized a definitive agreement to purchase notes in a face amount of approximately $162.5 million from Depfa Bank plc. As previously disclosed in the Company's Form 10-Q and 10-K filings with the SEC, the Company was named in a civil lawsuit filed in the Circuit Court of Milwaukee, Wisconsin (the "Wisconsin State Court") on September 29, 2008 along with Stifel Nicolaus, Royal Bank of Canada Europe Ltd. ("RBC"), and certain other RBC entities (collectively the "Defendants") by the school districts and the individual trustees for other post-employment benefit ("OPEB") trusts established by those school districts (collectively the "Plaintiffs"). The total amount of the investments made by the OPEB trusts was $200.0 million. The Plaintiffs have asserted that the school districts contributed $37.5 million to the OPEB trusts to purchase the investments. The balance of $162.5 million used to purchase the investments was borrowed by the OPEB trusts from Depfa Bank.
The notes were purchased at a substantial discount, immediately written down, and are carried at a zero value on the Company's balance sheet. The write down of the notes plus additional litigation-related provisions relating to the Wisconsin school district matters and other charges resulted in a $27.9 million after tax or $0.45 charge per diluted share, as previously disclosed in the Company's Form 10-Q for the quarter ended June 30, 2011.
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Media Contact:
Dan Callahan, (314) 583-5050, dan@goelastic.com
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