Note 15 - Stock-based Compensation

12 Months Ended

Oct. 31, 2025

Statement Line Items [Line Items]

Disclosure of share-based payment arrangements [text block]

15. Stock-based compensation:

Equity-settled stock options

The Bank has a stock option plan for its employees and officers. Options are granted at an exercise price set at the closing market price of the Bank’s common shares on the day preceding the date on which the option is granted and are exercisable within five years of issue. Options are usually granted with graded vesting terms. One third vests on the first anniversary of the grant date, one third vests on the second anniversary of the grant date, and one third vests on the third anniversary of the grant date.

	2025					2024
				Weighted					Weighted
	Number of			average		Number of			average
	options			exercise price		options			exercise price
Outstanding, beginning of period		819,125		$	15.90		874,393		$	15.90
Granted		10,000			15.90		-			-
Exercised		(6,775	)		15.90		(38,153	)		15.90
Forfeited/cancelled		(42,616	)		15.90		(17,115	)		15.90
Expired		-			-		-			-
Outstanding, end of period		779,734		$	15.90		819,125		$	15.90

For the year ended October 31, 2025, the Bank recognized stock-based compensation expense of $81,000 (2024 - $348,000) related to the estimated fair value of options granted. There were 10,000 stock options granted in the current year. The fair value of the 10,000 stock options granted over the course of the current fiscal year was estimated at the grant dates using the Black-Scholes valuation model and the following input assumptions: risk-free rate of 2.94%, expected option life of 3.5 years, expected volatility of 29.6% and expected annual dividends of 0.67%.The weighted average of the fair value of the stock options granted in the year was estimated at $3.33 per share. During the current year, the Bank issued 6,775 (2024 - 38,153) Common Shares for proceeds of $108,000 (2024 - $607,000) related to exercised stock options in the current year.