Note 6 - Other Assets

9 Months Ended

Jul. 31, 2023

Statement Line Items [Line Items]

Disclosure of other assets [text block]

6. Other assets:

(thousands of Canadian dollars)
	July 31		October 31		July 31
	2023		2022		2022
Accounts receivable	$	3,177	$	3,774	$	3,744
Prepaid expenses and other		14,017		10,213		10,010
Property and equipment		6,687		6,868		6,965
Right-of-use assets		3,602		4,122		4,296
Deferred tax asset		2,641		2,128		2,248
Interest rate swap		1,118		-		-
Investment (note 6a)		953		953		953
Goodwill		5,754		5,754		5,754
Intangible assets (note 6b)		10,554		9,363		9,356
	$	48,503	$	43,175	$	43,326

a) In February 2021, the Bank acquired an 11% investment in Canada Stablecorp Inc. (“Stablecorp”) for cash consideration of $953,000. The Bank has made an irrevocable election to designate this investment at fair value through other comprehensive income at initial recognition and any future changes in the fair value of the investment will be recognized in other comprehensive income (loss). Amounts recorded in other comprehensive income (loss) will not be reclassified to profit and loss at a later date.

b) As at July 31, 2023, total intangible assets were $10.6 million ( October 31, 2022 - $9.4 million), which includes, $7.7 million ( October 31, 2022 - $6.2 million) in development costs that have been capitalized.