Note 17 - Fair Value of Financial Instruments

6 Months Ended

Apr. 30, 2024

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 21 of the October 31, 2023 audited Consolidated Financial Statements for more information on fair values.

(thousands of Canadian dollars)
	April 30, 2024										October 31, 2023
	Carrying Value		Fair value Level 1		Fair Value Level 2		Fair Value Level 3		Total Fair Value		Carrying Value		Fair value Level 1		Fair Value Level 2		Fair Value Level 3		Total Fair Value
Assets
Cash	$	198,808	$	198,808	$	-	$	-	$	198,808	$	132,242	$	132,242	$	-	$	-	$	132,242
Securities		103,769		103,769		-		-		103,769		167,940		167,940		-		-		167,940
Loans		4,018,458		-		-		4,011,986		4,011,986		3,850,404		-		-		3,837,599		3,837,599
Derivatives		1,052		-		1,052		-		1,052		1,517		-		1,517		-		1,517
Other financial assets		953		-		-		953		953		953		-		-		953		953
Liabilities
Deposits	$	3,693,495	$	-	$	-	$	3,661,067	$	3,661,067	$	3,533,366	$	-	$	-	$	3,436,491	$	3,436,491
Subordinated notes payable		101,108		-		98,831		-		98,831		106,850		-		109,033		-		109,033
Other financial liabilities		189,157		-		-		189,157		189,157		176,039		-		-		176,039		176,039