Note 15 - Fair Value of Financial Instruments

3 Months Ended

Jan. 31, 2022

Statement Line Items [Line Items]

Disclosure of fair value of financial instruments [text block]

15.         Fair Value of Financial Instruments:

Fair values are based on management’s best estimates of market conditions and valuation policies at a certain point in time. The estimates are subjective and involve particular assumptions and matters of judgement and as such, may not be reflective of future fair values. The Bank’s loans and deposits lack an available market as they are not typically exchanged and, therefore, the book value of these instruments are not necessarily representative of amounts realizable upon immediate settlement. See note 19 of the October 31, 2021 audited Consolidated Financial Statements for more information on fair values.

(thousands of Canadian dollars)
As at	January 31, 2022				October 31, 2021
	Book		Fair		Book		Fair
(thousands of Canadian dollars)	Value		Value		Value		Value
Assets
Cash and cash equivalents	$	155,239	$	155,239	$	271,523	$	271,523
Loans		2,215,638		2,231,040		2,103,050		2,118,636
Other financial assets		3,891		3,891		3,596		3,596
Liabilities
Deposits	$	1,847,003	$	1,830,923	$	1,853,204	$	1,860,332
Subordinated notes payable		97,726		100,310		95,272		97,910
Other financial liabilities		130,836		130,836		130,657		130,657