Acquisition of KBW, Inc. (Tables)

3 Months Ended

Mar. 31, 2013

Acquisition of KBW, Inc.

Aggregate Merger Consideration Payable

Cash paid to KBW, Inc. shareholders	$	253,039
Common stock issued to KBW, Inc. shareholders		262,653
Fair value of outstanding KBW, Inc. restricted stock awards exchanged for Stifel restricted stock awards		86,221
Purchase price to be allocated	$	601,913

Fair Value Of Assets Acquired And Liabilities Assumed

Assets:
Cash and cash equivalents	$	98,756
Receivables from clearing organizations		74,264
Financial instruments owned, at fair value		120,540
Fixed assets, net		10,629
Deferred tax assets, net		76,763
Other assets		34,987
Total assets acquired	$	415,939
Liabilities:
Financial instruments sold, but not yet purchased, at fair value	$	53,379
Accrued compensation		18,468
Accounts payable and accrued expenses		50,104
Total liabilities assumed		121,951
Net assets acquired	$	293,988

Results of Operations on Acquisition Included Consolidated Financial Statements

	Three Months Ended March 31,
(000s, except per share amounts, unaudited)	2013		2012
Total net revenues	$	467,213	$	469,382
Net income/(loss)		(61,688)		35,185
Earnings/(loss) per share:
Basic	$	(1.03)	$	0.59
Diluted	$	(1.03)	$	0.51