Note 7 - Subordinated Notes Payable

9 Months Ended

Jul. 31, 2024

Statement Line Items [Line Items]

Disclosure of borrowings [text block]

7. Subordinated notes payable:

(thousands of Canadian dollars)
	July 31		October 31		July 31
	2024		2023		2023
Issued April 2021, unsecured, non-viability contingent capital compliant, subordinated notes payable, principal amount of US $75.0 million, fixed effective interest rate of 5.38%, maturing May 2031.	$	101,641	$	101,931	$	96,669
Issued March 2019, unsecured, non-viability contingent capital compliant, subordinated notes payable, principal amount of $5.0 million, $500,000 is held by related party (note 14), fixed effective interest rate of 10.41%, maturing March 2029.		-		4,919		4,916
	$	101,641	$	106,850	$	101,585

On April 30, 2024, the Bank redeemed its $5.0 million, unsecured, non-viability contingent capital compliant, subordinate note payable using the Bank’s general funds.