Note 17 - Fair Value of Financial Instruments

9 Months Ended

Jul. 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	July 31, 2023				October 31, 2022
	Carrying		Fair		Carrying		Fair
(thousands of Canadian dollars)	Value		Value		Value		Value
Assets
Cash	$	87,726	$	87,726	$	88,581	$	88,581
Securities		182,944		182,944		141,564		141,564
Loans		3,661,672		3,636,974		2,992,678		2,963,676
Other		5,248		5,248		4,727		4,727
Liabilities
Deposits	$	3,328,017	$	3,238,741	$	2,657,540	$	2,561,421
Subordinated notes payable		101,585		103,827		104,951		107,367
Other		181,014		181,014		146,249		146,249