Stifel Financial Corp. said it bought 250,000 shares from BankAtlantic Bancorp. for $10.6 million in a private deal.

BankAtlantic got the shares when Stifel bought Ryan Beck Holdings Inc. from the bank on Feb. 28 last year. Stifel paid $42,35 a share, the closing price on Friday.

Stifel’s board had authorized the company to buy back shares to meet employee benefit obligations and for general corporate purposes. The company has authority to buy an additional 1.34 million shares.

Stifel is the parent company for Stifel, Nicolaus & Co., a St. Louis-based brokerage firm.