Note 17 - Fair Value of Financial Instruments

3 Months Ended

Jan. 31, 2023

Statement Line Items [Line Items]

Disclosure of fair value of financial instruments [text block]

17. 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 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 is not necessarily representative of amounts realizable upon immediate settlement. See note 18 of the October 31, 2022 audited Consolidated Financial Statements for more information on fair values.

(thousands of Canadian dollars)
As at	January 31, 2023				October 31, 2022
	Book		Fair		Book		Fair
(thousands of Canadian dollars)	Value		Value		Value		Value
Assets
Cash	$	201,372	$	201,372	$	88,581	$	88,581
Securities		49,847		49,847		141,564		141,564
Loans		3,235,083		3,208,534		2,992,678		2,963,676
Investment in Stablecorp		953		953		953		953
Liabilities
Deposits	$	2,925,452	$	2,866,985	$	2,657,540	$	2,561,421
Subordinated notes payable		102,765		105,125		104,951		107,367
Other financial liabilities		149,763		149,763		146,249		146,249