Stifel Financial Corp. today reported net income of $39.9 million, or $0.52 per diluted common share on net revenues of $523.5 million for the three months ended September 30, 2014, compared with net income of $69.7 million, or $0.93 per diluted common share, on net revenues of $478.6 million for the third quarter of 2013.

Included in net income for the three months ended September 30, 2013 is a tax benefit related to discontinuing the business operations of SN Canada and merger-related expenses. The after tax impact of these items was $0.47 per diluted common share.

Highlights for the nine months ended September 30, 2014:

• Record net revenues of $1.6 billion, increased 16% compared with the year-ago period.

• Net income of $130.9 million, or $1.72 per diluted common share, increased 15% compared with the year-ago period.

• The Company’s Tier 1 leverage capital ratio was 16.0% at September 30, 2014 and Tier 1 risk-based capital ratio was 27.9% at September 30, 2014.

• At September 30, 2014, book value per common share was $33.92 based on 66.0 million common shares outstanding.

• Stockholders’ equity as of September 30, 2014 increased $244.1 million, or 12%, to $2.2 billion from $2.0 billion as of September 30, 2013.

• Assets increased 7% to $9.3 billion as of September 30, 2014 from $8.7 billion as of September 30, 2013. The increase is primarily attributable to growth of Stifel Bank, the Company’s bank subsidiary, which as of September 30, 2014 has grown its assets to $5.0 billion from $4.5 billion as of September 30, 2013.

• At September 30, 2014, the Company’s Level 3 assets of $177.8 million, or 2% of total assets, consisted of $101.8 million of auction rate securities and $76.0 million of partnership interests, private company investments, private equity, and fixed income securities. The Company’s Level 3 assets as a percentage of total assets measured at fair value was 6% at September 30, 2014.

• Non-performing assets as a percentage of total assets as of September 30, 2014 was 0.07%.