Acquisition of KBW, Inc. (Tables)

9 Months Ended

Sep. 30, 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 September 30,		Nine Months Ended September 30,
(000s, except per share amounts, unaudited)	2012		2013		2012
Total net revenues	$	470,536	$	1,436,354	$	1,369,556
Net income/(loss)		33,296		(16,464)		89,502
Earnings/(loss) per share:
Basic	$	0.55	$	(0.26)	$	1.47
Diluted	$	0.46	$	(0.26)	$	1.23