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Consolidated Statements of Income and Comprehensive Income (Unaudited) - CAD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jul. 31, 2022
Jul. 31, 2021
Jul. 31, 2022
Jul. 31, 2021
Interest income:        
Loans $ 33,165 $ 22,078 $ 83,151 $ 64,465
Other 1,012 322 1,594 1,099
Interest income 34,177 22,400 84,745 65,564
Interest expense:        
Deposits and other 12,727 6,539 26,435 19,967
Subordinated notes 1,388 1,319 4,121 1,586
Interest expense 14,115 7,858 30,556 21,553
Net interest income 20,062 14,542 54,189 44,011
Non-interest income 1,177 1,187 3,951 3,110
Total revenue 21,239 15,729 58,140 47,121
Provision for (recovery of) credit losses (note 5) 166 96 246 (159)
Revenue less provision for credit loss 21,073 15,633 57,894 47,280
Non-interest expenses:        
Salaries and benefits 6,768 4,853 19,577 14,836
General and administrative 5,519 2,414 13,162 7,136
Premises and equipment 929 933 2,880 2,657
Noninterest expense 13,216 8,200 35,619 24,629
Income before income taxes 7,857 7,433 22,275 22,651
Income tax provision (note 10) 2,137 1,997 6,046 6,181
Net income 5,720 5,436 16,229 16,470
Other comprehensive income:        
Items that may subsequently be reclassified to net income: Foreign exchange gain on translation of foreign operations 24 5 67 2
Comprehensive income $ 5,744 $ 5,441 $ 16,296 $ 16,472
Basic and diluted income per common share (note 11) (in CAD per share) $ 0.20 $ 0.25 $ 0.56 $ 0.72
Weighted average number of common shares outstanding (in shares) 27,441,082 21,123,559 27,441,082 21,123,559