A second bank arrives in 2018
On August 31, 2018, Stifel Financial Corp. completed its purchase of Business Bancshares, Inc. and that company’s subsidiary, The Business Bank of St. Louis. The acquired bank became Stifel Bank at closing. Stifel announced completion on September 4, separating the event date from the public announcement. This was the arrival of a second separately named bank in the financial group. [3]
The bank was not Stifel Bank & Trust, which the group had acquired years earlier. The FDIC identifies Stifel Bank as certificate 57358, established May 16, 2002, in Saint Louis. Stifel Bank & Trust carries certificate 57311. Their shared parent and similar names do not give them the same charter, acquisition history or financial statements. [1][3]
A local business bank offers useful capabilities
At acquisition, Business Bancshares operated a full-service banking facility from a single location in Clayton, Missouri. Its consolidated June 2018 figures were approximately $607 million of assets, $500 million of loans and $522 million of deposits. Those were the acquired holding company’s dated consolidated figures, not today’s Stifel Bank balances. [3]
Stifel chairman and chief executive Ronald J. Kruszewski said the acquisition would expand the group’s lending capabilities and add services including treasury management and payroll processing. The completion release also said the acquired company would remain a separate subsidiary. The transaction was therefore about adding commercial-banking expertise and a separate banking platform, rather than simply relabeling the existing Stifel Bank & Trust business. [3]
The connection to investment accounts
By the parent’s 2025 annual report, the two retail and commercial banks were part of a broader group that also included the broker-dealer Stifel, Nicolaus & Company, Incorporated and separately incorporated trust companies. The report describes a multi-bank sweep program that places customers’ uninvested brokerage cash into interest-bearing deposits at affiliated and outside banks. That is a funding channel linking investment relationships with banking. [4]
The group also offers its Smart Rate savings program through securities accounts. Deposits help the banking subsidiaries fund loans and investment securities, but a customer’s brokerage portfolio is not itself a bank asset. The annual report presents these funding arrangements collectively for the banking platform; it does not allocate every program balance to certificate 57358. [4]
Services extend beyond the original Clayton office
The current Stifel banking platform describes commercial lending, private-client lending, mortgages, treasury services, venture banking and fund banking. These offerings can connect a company’s daily cash needs, its owners’ personal finances and larger financing transactions. They are platform-wide services and should not all be assigned exclusively to Stifel Bank without a bank-specific disclosure. [5]
The 2025 annual report identifies Christopher K. Reichert as chairman and chief executive of Stifel Bank & Trust, with oversight of commercial, wealth-management and venture banking, trust services and deposit strategy across four charters. His group-wide responsibilities are relevant, but that stated title is not proof that he holds the identical formal office at Stifel Bank. [4]
The balance sheet shows a different mix
At June 2026, Stifel Bank reported $3.938 billion of securities and $0.559 billion of cash and balances due from depository institutions. Its $1.180 billion of real-estate-secured loans represented about 11.9% of gross loans and leases. This is a specific bank balance sheet, rather than a summary of every loan made by the Stifel group. [2]
The wider group’s annual report warns that clients can move cash into investments with more attractive yields, and that changing cash balances or funding costs can affect banking earnings. The brokerage relationship supplies access to deposits, but does not make them permanently available at a fixed cost. Borrower repayment, collateral and interest rates still matter to the banking business. [4]
A much larger bank, still a separate institution
At June 30, 2026, FDIC data show $14.623 billion of assets, $13.666 billion of deposits, $9.921 billion of net loans and leases, and $0.914 billion of equity for this insured bank. Net income was $88.664 million for the first six months of 2026. The dollar fields are converted from thousands; income covers six months, rather than the second quarter alone. [2]
The 2018 purchase connected a small Missouri business-banking franchise to a national financial-services organization. The later FDIC figures show the size of the resulting insured bank, while the acquisition release and parent filings explain the connection. Comparisons with the original $607 million business must retain the different dates and holding-company versus bank reporting boundaries. [2][3][4]
Sources
- FDIC institution directory, October 2, 2026 index; reviewed October 5Official sourceBack to text: ↑
- FDIC June 30, 2026 bank financials; dollar fields in thousands; income year to dateOfficial sourceBack to text: ↑1↑2↑3
- Stifel acquisition-completion release, September 4, 2018; transaction closed August 31Filing / reportBack to text: ↑1↑2↑3↑4↑5
- Stifel Financial Corp. 2025 Form 10-K; banking structure, leadership and funding disclosuresFiling / reportBack to text: ↑1↑2↑3↑4↑5
- Stifel banking platform services, undated; reviewed October 5, 2026SourceBack to text: ↑