Keefe, Bruyette & Woods, Inc., a full‐service, boutique investment bank and broker‐dealer that specializes in the financial services sector, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for second quarter of 2015. As part of this rebalancing, below are the component level changes across various indices:

KBW Bank Index (Index Ticker: BKX, ETF Ticker: KBWB): Add: Citizens Financial Group, Inc. (NYSE: CFG) Delete: Commerce Bancshares, Inc. (NASDAQ: CBSH)

KBW Regional Banking Index (Index Ticker: KRX; ETF Ticker: KBWR) Add: Commerce Bancshares, Inc. (NASDAQ: CBSH) Delete: City National Corp. (NYSE: CYN)

These changes will be effective prior to the opening of business on Monday, June 22, 2015.

The KBW indices have tradable exchange‐traded funds licensed: KBW Bank Index (Index Ticker: BKXSM, ETF Ticker: KBWBSM); KBW Capital Markets Index (Index Ticker: KSXSM, ETF Ticker: KBWCSM); KBW Insurance Index (Index Ticker: KIXSM, ETF Ticker: KBWISM); KBW Regional Banking Index (Index Ticker: KRXSM, ETF Tickers: KBWRSM, KRSSM, KRUSM); KBW Financial Sector Dividend Yield Index (Index Ticker: KDXSM, ETF Ticker: KBWDSM); KBW Premium Yield Equity REIT Index (Index Ticker: KYXSM, ETF Ticker: KBWYSM); KBW Property and Casualty Insurance Index (Index Ticker: KPXSM, ETF Ticker: KBWPSM); KBW Mortgage Finance Index (Index Ticker: MFXSM); and KBW Global (Ex US) Financial Sector Index (Index Ticker: KGXSM).

About KBW

KBW (Keefe, Bruyette & Woods, Inc. operating in the U.S. and Stifel Nicolaus Europe Limited, also trading as Keefe, Bruyette & Woods Europe, operating in Europe) is a Stifel company. Over the years, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking and specialty finance sectors. Founded in 1962, the firm maintains industry‐leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities securities of financial services companies.

Intermarket CommunicationsMike Gelormino, 212‐909‐4780

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