EXHIBIT 21
STIFEL FINANCIAL CORP. AND SUBSIDIARIES
SUBSIDIARIES OF STIFEL FINANCIAL CORP.(1)
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STATE OF NAMES UNDER WHICH
NAME INCORPORATION SUBSIDIARY DOES BUSINESS
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Stifel, Nicolaus & Company, Incorporated Missouri Stifel, Nicolaus & Company, Incorporated
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Alliance Realty Corp. Missouri Alliance Realty Corp.
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Century Securities Associates, Inc. Missouri Century Securities Associates, Inc.
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Stifel, Nicolaus Insurance Agency, Inc.(2) Arkansas Stifel, Nicolaus Insurance Agency, Inc.
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S-N Capital Corp.(2) Missouri S-N Capital Corp.
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Stifel Insurance Agency - Ohio, Inc.(3) Ohio Stifel Insurance Agency - Ohio, Inc.
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Stifel Venture Corp. Missouri Stifel Venture Corp.
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Stifel Asset Management Corp. Missouri Stifel Asset Management Corp.
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Stifel CAPCO, L.L.C. Missouri Stifel CAPCO, L.L.C.
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Stifel CAPCO II, L.L.C. Missouri Stifel CAPCO II, L.L.C.
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Hanifen, Imhoff Inc. Colorado Hanifen, Imhoff Inc.
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Stifel Nicolaus Insurance Agency of Missouri (2) Missouri Stifel Nicolaus Insurance Agency of Missouri
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CSA Insurance Agency, Incorporated Missouri CSA Insurance Agency, Incorporated
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<FN>
(1)Does not include corporations in which registrant owns 50% or less of the stock.
(2)Wholly owned subsidiary of Stifel, Nicolaus & Company, Incorporated.
(3)Majority owned subsidiary of Stifel, Nicolaus & Company, Incorporated.
Stifel Financial Capital Trust I is a wholly owned subsidiary of Stifel
Financial Corp; however, it is considered a Special Purpose Entity under the
provisions of the Financial Accounting Standards Board Interpretation No. 46
(Revised December 2003), Consolidation of Variable Interest Entities, and
has been deconsolidated effective December 31, 2003.