VersaBank (VBNK) 40-F 13 Dec 23 2023 FY Annual report (Canada) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Oct. 31, 2023 shares
Document Information [Line Items]
Entity Central Index Key	0001690639
Entity Registrant Name	VersaBank
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Document Type	40-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Oct. 31, 2023
Entity File Number	001-40805
Entity Incorporation, State or Country Code	Z4
Entity Address, Address Line One	140 Fullarton Street, Suite 2002
Entity Address, City or Town	London
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	N6A 5P2
Entity Address, Country	CA
City Area Code	519
Local Phone Number	645-1919
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	VBNK
Security Exchange Name	NASDAQ
Annual Information Form	true
Audited Annual Financial Statements	true
Entity Common Stock, Shares Outstanding	25,964,424
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Name	Ernst and Young, LLP
Auditor Location	London, ON, Canada
Auditor Firm ID	1263
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	122 East 42nd Street, 18th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10168
City Area Code	800
Local Phone Number	221-0102
Contact Personnel Name	Cogency Global Inc.

Consolidated Balance Sheets

Consolidated Balance Sheets - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Assets
Cash (note 4)	$ 132,242	$ 88,581	$ 271,523
Securities (note 5)	167,940	141,564
Loans, net of allowance for credit losses (note 6)	3,850,404	2,992,678
Other assets (note 10)	51,024	43,175
Total assets	4,201,610	3,265,998
Liabilities and Shareholders' Equity
Deposits (note 11)	3,533,366	2,657,540
Subordinated notes payable (note 12)	106,850	104,951
Other liabilities (note 13)	184,236	152,832
Total liabilities	3,824,452	2,915,323
Shareholders' equity:
Share capital (note 14)	228,471	239,629
Contributed surplus	2,513	1,612
Retained earnings	146,043	109,335
Accumulated other comprehensive income	131	99
Total equity	377,158	350,675
Total equity and liabilities	$ 4,201,610	$ 3,265,998

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Unaudited) - CAD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Interest income:
Loans	$ 215,686	$ 123,190
Other	13,648	3,627
Interest income	229,334	126,817
Interest expense:
Deposits and other	123,491	44,600
Subordinated notes	5,792	5,551
Interest expense	129,283	50,151
Net interest income	100,051	76,666
Non-interest income	8,584	5,726
Total revenue	108,635	82,392
Provision for credit losses (note 6(b))	609	451
Revenue less provision for credit loss	108,026	81,941
Non-interest expenses:
Salaries and benefits	31,428	26,796
General and administrative	15,051	18,732
Premises and equipment	3,902	3,865
Noninterest expense	50,381	49,393
Income before income taxes	57,645	32,548
Income tax provision (note 16)	15,483	9,890
Net income	42,162	22,658
Other comprehensive income:
Foreign exchange gain on translation of foreign operations	32	103
Comprehensive income	$ 42,194	$ 22,761
Basic and diluted income per common share (note 17) (in CAD per share)	$ 1.57	$ 0.79

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - CAD ($)	Total	Issued capital [member]	Issued capital [member] Ordinary shares [member]	Issued capital [member] Series 1 preferred shares [member]	Additional paid-in capital [member]	Retained earnings [member]	Accumulated other comprehensive income [member]
Balance at Oct. 31, 2021			$ 227,674,000		$ 145,000	$ 90,644,000	$ (4,000)
Statement Line Items [Line Items]
Options exercised during the year			0
Purchased and cancelled during the year	$ (1,900,000)		(1,692,000)			(238,000)
Stock-based compensation (note 15)					1,467,000
Adjustment for purchased and cancelled common shares						(238,000)
Net income	22,658,000					22,658,000
Dividends paid on common and preferred shares						(3,729,000)
Other comprehensive income							103,000
Balance at Oct. 31, 2022	350,675,000	$ 239,629,000	225,982,000	$ 13,647,000	1,612,000	109,335,000	99,000
Statement Line Items [Line Items]
Options exercised during the year	280,000		280,000
Purchased and cancelled during the year	(13,300,000)		(11,438,000)			(1,900,000)
Stock-based compensation (note 15)					901,000
Adjustment for purchased and cancelled common shares						(1,854,000)
Net income	42,162,000					42,162,000
Dividends paid on common and preferred shares						(3,600,000)
Other comprehensive income							32,000
Balance at Oct. 31, 2023	$ 377,158,000	$ 228,471,000	$ 214,824,000	$ 13,647,000	$ 2,513,000	$ 146,043,000	$ 131,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - CAD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Cash provided by (used in):
Net income	$ 42,162	$ 22,658
Adjustments to determine net cash flows:
Provision for credit losses	609	451
Stock-based compensation	901	1,467
Income tax provision	15,483	9,890
Interest income	(229,334)	(126,817)
Interest expense	129,283	50,151
Amortization	1,783	1,938
Accretion of discount on securities	(155)	(533)
Foreign exchange rate change on assets and liabilities	10,507	9,488
Interest received	220,775	116,014
Interest paid	(93,786)	(35,958)
Income taxes paid	(15,951)	(6,275)
Loans	(850,394)	(880,477)
Deposits	840,563	790,365
Change in other assets and liabilities	22,271	14,984
Net cash flows from (used in) operating activities	94,717	(32,654)
Purchase of securities (note 27)	(27,778)	(141,031)
Purchase of property and equipment	(362)	(581)
Net cash flows from (used in) investing activities	(28,140)	(141,612)
Financing:
Issuance of common shares	280	0
Purchase and cancellation of common shares	(13,292)	(1,930)
Dividends paid	(3,600)	(3,729)
Repayment of lease obligations	(700)	(642)
Net cash flows from (used in) financing activities	(17,312)	(6,301)
Change in cash	49,265	(180,567)
Effect of exchange rate changes on cash	(5,604)	(2,375)
Cash, beginning of year	88,581	271,523
Cash, end of year	$ 132,242	$ 88,581

Note 1 - Reporting Entity

Note 1 - Reporting Entity	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of notes and explanatory information [text block]	1. Reporting entity: VersaBank (the “Bank”) operates as a Schedule I bank under the Bank Act (Canada) and is regulated by the Office of the Superintendent of Financial Institutions Canada (“OSFI”). The Bank, whose shares trade on the Toronto Stock Exchange and Nasdaq Stock Exchange, provides commercial lending and banking services to select niche markets in Canada and the United States as well as cybersecurity services through the operations of its wholly owned subsidiary DRT Cyber Inc., (“DRTC”). The Bank is incorporated and domiciled in Canada, and maintains its registered office at Suite 2002, 140 N6A 5P2.

Note 2 - Basis of Preparation

Note 2 - Basis of Preparation	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of basis of preparation of financial statements [text block]	2. Basis of preparation: These Consolidated Financial Statements have been prepared in accordance with the Bank Act (Canada). a) Statement of compliance: These Consolidated Financial Statements have been prepared in accordance with IFRS as issued by the International Accounting Standards Board (“IASB”). b) Date authorized for issuance: These Consolidated Financial Statements were approved and authorized for issue by the Board of Directors of the Bank on December 12, 2023. c) Basis of measurement: These Consolidated Financial Statements have been prepared on the historical cost basis except for assets and liabilities acquired in a business combination which are measured at fair value at the date of acquisition (see note 26 18 10 d) Functional and presentation currency: These Consolidated Financial Statements are presented in Canadian dollars which is the Bank’s functional currency. Functional currency is also determined for each of the Bank’s subsidiaries and items included in the financial statements of the subsidiaries are measured using their functional currency (see note 3m e) Use of estimates and judgments: In preparing these Consolidated Financial Statements, management has exercised judgment and developed estimates in applying accounting policies and generating reported amounts of assets and liabilities at the date of the financial statements and income and expenses during the reporting periods. Areas where judgement was applied include assessing significant increases in credit risk on financial assets since initial recognition and in the selection of relevant forward-looking information as described in note 3e may Estimates and their underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are applied prospectively once they are known.

Note 3 - Significant Accounting

Note 3 - Significant Accounting Policies	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of changes in accounting policies [text block]	3. Significant accounting policies: The significant accounting policies used in the preparation of these Consolidated Financial Statements were applied consistently to all years and are summarized below: a) Principles of consolidation: The Bank holds 100% of the common shares of DRT Cyber Inc., VersaHoldings US Corp. and VersaJet Inc. DRT Cyber Inc. holds 100% of the common shares of Digital Boundary Group Canada Inc. and Digital Boundary Group Inc. (“Digital Boundary Group”). VersaHoldings US Corp. holds 100% of the common shares of VersaFinance US Corp. The Consolidated Financial Statements include the accounts of these subsidiaries. All significant intercompany accounts and transactions have been eliminated. b) Segment reporting: The Bank’s management has established two reportable operating segments, those being Digital Banking and DRTC. Details of the Bank’s segment reporting are set out in note 25. c) Business combinations The Bank expects to apply IFRS 3 26 d) Revenue recognition: Interest income on cash, securities and loans is recognized in net interest income using the effective interest rate method over the expected life of the instrument. Interest income earned but not Interest income is recognized on impaired loans and is accrued using the rate of interest used to discount the future cash flows for purposes of measuring the impairment loss. Loan fees integral to the yield on the loan are amortized to interest income using the effective interest rate method; otherwise, the fees are recorded in non-interest income. The Bank’s non-interest income stream is substantially derived from the operations of DRTC and its wholly owned subsidiaries. DRTC generates professional services revenue primarily from fees charged for IT security assurance services, supervisory control and data acquisition system assessments, as well as IT security training. Revenue is recognized when service is rendered and performance obligations have been satisfied and no e) Financial instruments: Classification and measurement Under IFRS 9, through profit or loss or fair value through other comprehensive income. Financial assets are required to be reclassified when the business model under which they are managed has changed. Any reclassifications are applied prospectively from the reclassification date. All financial liabilities are measured at amortized cost unless elected otherwise. Debt instruments Financial assets that are debt instruments are categorized into one • amortized cost; • fair value through other comprehensive income (“FVOCI”); • fair value through profit and loss (“FVTPL”). The characterization of a debt instrument’s cashflows is determined through a solely payment of principal and interest (“SPPI”) test. The SPPI test is conducted to identify whether the contractual cash flows of a debt instrument are in fact solely payments of principal and interest and are consistent with a basic lending arrangement. In the context of the SPPI test, “Principal” is defined as the fair value of the debt instrument at origination or initial recognition, which may The Bank’s loans are categorized and measured as amortized cost. Debt instruments with contractual cash flows that meet the SPPI test and are managed on a hold to collect basis are measured at amortized cost. These financial instruments are recognized initially at fair value plus direct and incremental transaction costs, and are subsequently measured at amortized cost, using the effective interest rate method, net of an allowance for credit losses. The effective interest rate is the rate that discounts estimated future cashflows through the expected life of the instrument to the gross carrying amount of the instrument. Amortized cost is calculated as a function of the effective interest rate, taking into account any discount or premium on acquisition, transaction costs and fees. Amortization of these costs is included in interest income in the consolidated statement of income. The Bank’s securities are measured at fair value and categorized as FVOCI. Equity instruments Equity instruments are measured at fair value and categorized as FVTPL unless an irrevocable designation is made at initial recognition to categorize as FVOCI. Gains or losses from changes in the fair value of equity financial instruments designated at FVOCI, including any related foreign exchange gains or losses, are recognized in other comprehensive income (“OCI”). Amounts recognized in OCI are not The Bank has categorized its investment in Canada Stablecorp Inc. as FVOCI and it is carried at fair value. Allowance for expected credit losses The Bank must maintain an allowance for expected credit losses (“ECL”) that is adequate, in management’s opinion, to absorb all credit related losses in the Bank’s lending and treasury portfolios. The Bank’s allowance for expected credit losses is estimated using the ECL methodology and is comprised of expected credit losses recognized on all financial assets that are debt instruments, classified either as amortized cost or as FVOCI, and on all loan commitments and financial guarantees that are not Expected credit losses represent unbiased and probability-weighted estimates that are modeled as a function of a range of possible outcomes as well as the time value of money, and reasonable and supportable information about past events, current conditions and forecasts of future economic conditions, or more specifically forward-looking information (“FLI”) (see Forward-looking information below). The Bank’s ECL or impairment model estimates 12 not Loans or other financial instruments that have not 1, 2, 3. designation, the Bank’s loans or other financial instruments may Assessment of significant increase in credit risk At each reporting date, the Bank assesses whether or not not Quantitative models may not may may With regards to delinquency and monitoring, there is a rebuttable presumption that the credit risk of a loan or other financial instrument has increased since initial recognition when contractual payments are more than 30 60 may may not Expected credit loss model - Estimation of expected credit losses Expected credit losses are an estimate of a loan’s expected cash shortfalls discounted at the effective interest rate, where a cash shortfall is the difference between the contractual cash flows that are due to the Bank and the cash flows that the Bank actually expects to receive. The ECL calculation is a function of the credit risk parameters; probability of default, loss given default, and exposure at default associated with each loan, sensitized to future market and macroeconomic conditions through the incorporation of FLI derived from multiple economic forecast scenarios, including baseline, upside, and downside scenarios. For clarity: • The probability of default (“PD”) for a loan or a financial instrument is an estimate of the likelihood of default of that instrument over a given time horizon; • The loss given default (“LGD”) for a loan or financial instrument is an estimate of the loss arising in the case where a default of that instrument occurs at a given time or over a given period; and, • The exposure at default (“EAD”) for a loan or financial instrument is an estimate of the Bank’s exposure derived from that instrument at a future default date. The Bank’s ECL model develops contractual cashflow profiles for loans as a function of a number of underlying assumptions and a broad range of input variables. The expected cashflow schedules are subsequently derived from the contractual cashflow schedules, adjusted for incremental default amounts, forgone interest, and recovery amounts. The finalized contractual and expected cashflow schedules are subsequently discounted at the effective interest rate to determine the expected cash shortfall or expected credit losses for each individual loan or financial instrument. Individual allowances are estimated for loans or other financial instruments that are determined to be credit impaired and that have been designated as stage 3. may may not 90 3, 3 12 1 2 3 Forward-looking information IFRS 9 9 9 The Bank incorporates the impact of future economic conditions, or more specifically forward-looking information into the estimation of expected credit losses at the credit risk parameter level. This is accomplished via the credit risk parameter models and proxy datasets that the Bank utilizes to develop PD and LGD term structure forecasts for its loans. The Bank has sourced credit risk modeling systems and forecast macroeconomic scenario data from Moody’s Analytics, a third not third The Bank utilizes macroeconomic indicator data derived from multiple macroeconomic scenarios comprised of baseline, upside, and downside scenarios in order to mitigate volatility in the estimation of expected credit losses as well as to satisfy the IFRS 9 The macroeconomic indicator data utilized by the Bank for the purpose of sensitizing PD and LGD term structure data to forward economic conditions include, but are not Modified financial instruments If the terms of a financial instrument are modified or an existing financial instrument is replaced with a new one, an assessment is made to determine if the financial instrument should be derecognized. Where the modification does not Fair value of financial instruments Estimates of fair value are developed using a variety of valuation methods and assumptions. The Bank follows a fair value hierarchy to categorize the inputs used to measure fair value for its financial instruments. The fair value hierarchy is based on quoted prices in active markets (Level 1 2 not 3 Valuation models may may may f) Property and equipment: Property and equipment is carried at cost less accumulated amortization and impairment. Amortization on property and equipment is calculated primarily using the straight-line method over the useful life of the equipment which typically ranges between 5 and 20 years. Property and equipment is subject to an impairment review if there are events or changes in circumstances which indicate that the carrying amounts may not g) Goodwill and intangible assets: Goodwill is the residual amount that results when the purchase price of an acquired business exceeds the value allocated to the tangible and intangible assets, less liabilities assumed, based on their fair values. Goodwill is not first not Intangible assets acquired in a business acquisition are recorded at their fair value. In subsequent reporting periods, intangible assets are carried at cost less accumulated amortization and accumulated impairment losses. Amortization is recorded on a straight-line basis over the expected useful life of the intangible asset. At each reporting date, the carrying value of intangible assets are reviewed for indicators of impairment. If such an indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generate cash flows from continuing use that are largely independent of the cash inflows of other assets or groups of assets or CGU’s. If the recoverable amount of an asset or CGU is estimated to be less than its carrying amount, the carrying amount is reduced to its recoverable amount and the impairment loss is recognized in profit or loss. The recoverable amount of an asset or CGU is the higher of fair value less costs to sell and value in use. In assessing fair value less cost to sell the estimated future cash flows are discounted at a rate that reflects current market assessments of the time value of money and the risks specific to the assets. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. When an impairment loss is subsequently reversed, the carrying amount of the asset is increased to the revised estimate of its recoverable amount so that the increased carrying amount does not no The Bank develops proprietary cybersecurity, banking and financial technology. Any research or early-stage scoping activities are expensed as incurred in the period. The Bank recognizes internally generated intangible assets on the development of proprietary technology when it has determined that there is technical feasibility and resources available to complete a product, demonstrated an existence of an established market for the product as well as support to generate future revenues or derive future economic benefits from the product. As these intangible assets are not h) Income taxes: Current income taxes are calculated based on taxable income for the reporting period. Taxable income differs from accounting income because of differences in the inclusion and deductibility of certain components of income which are established by taxation authorities. Current income taxes are measured at the amount expected to be recovered or paid using statutory tax rates at the reporting period end. The Bank follows the asset and liability method of accounting for deferred income taxes. Deferred income tax assets and liabilities arise from temporary differences between financial statement carrying values and the respective tax base of those assets and liabilities. Deferred income tax assets and liabilities are measured using enacted or substantively enacted tax rates expected to apply to taxable income in the years when temporary differences are expected to be recovered or settled. Deferred income tax assets are recognized in the Consolidated Financial Statements to the extent that it is probable that the Bank will have sufficient taxable income to enable the benefit of the deferred income tax asset to be realized. Unrecognized deferred income tax assets are reassessed for recoverability at the end of each reporting period. Current and deferred income taxes are recorded in income for the period, except to the extent that the tax arose from a transaction that is recorded either in Other Comprehensive Income or Equity, in which case the income tax on the transaction will also be recorded either in Other Comprehensive Income or Equity. Accordingly, current and deferred income taxes are presented in the Consolidated Financial Statements as a component of income, or as a component of Other Comprehensive Income. i) Employee benefits: i) Short-term benefits: Short-term employee benefit obligations are recognized as employees render their services and are measured on an undiscounted basis. A liability is recognized for the amount expected to be paid under a short-term cash bonus plan if the Bank has an obligation to make such payments as a result of past service provided by the employee and the obligation can be estimated reliably. ii) Share-based payment transactions: Equity-settled stock options Employee stock options are measured using the Black-Scholes pricing model which is used to estimate the fair value of the options at the date of grant. Inputs to the Black-Scholes model include the closing share price on the grant date, the exercise price, the expected option life, the expected dividend yield, the expected volatility and the risk-free interest rate. Once the expected option life is determined, it is used in formulating the estimates of expected volatility and the risk-free rate. Expected future volatility is estimated using a historical volatility look-back period that is consistent with the expected life of the option. The fair value of options which vest immediately are recognized in full as of the grant date, whereas the fair value of options which vest over time are recognized over the vesting period using the graded method which incorporates management’s estimates of the options which are not 15. j) Share capital: The Bank’s share capital consists of common shares and preferred shares. Costs directly incurred with raising new share capital are charged against equity. Other costs are expensed as incurred. k) Contributed surplus: Contributed surplus consists of the fair value of stock options granted since inception, less amounts reversed for exercised stock options. If granted options vest and then subsequently expire or are forfeited, no l) Leases: At inception of a contract, the Bank assesses whether a contract is, or contains a lease arrangement based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Bank recognizes a right-of-use asset and a lease obligation at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease obligation adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset and/or the site on which it is located, less any lease incentives received. The assets are depreciated to the earlier of the end of useful life of the right-of-use asset or the lease term using the straight-line method as this methodology most closely reflects the expected pattern of consumption of the associated future economic benefits. The lease term includes periods covered by an option to extend if there is reasonable certainty that the Bank will exercise that option. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease obligation. The lease obligation is measured at amortized cost using the effective interest rate method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Bank’s estimate of the amount expected to be payable under a residual value guarantee, or if the Bank changes its assessment of whether it will exercise a purchase, extension or termination option. When the lease obligation is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or the remeasured amount is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. The Bank elects to apply the practical expedient to account for leases for which the lease term ends within 12 m) Foreign currency translation: Transactions in foreign currencies are translated into the respective functional currencies of the Bank and its subsidiaries at the exchange rate at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into Canadian dollars at the exchange rate at the reporting date. Foreign currency differences are recognized in profit and loss. Investments classified as fair value through other comprehensive income denominated in a foreign currency are translated into Canadian dollars at the exchange rate at the reporting date. All resulting changes are recognized in other comprehensive income. Foreign operations The assets and liabilities of Digital Boundary Group Inc., a US operation of the Bank, has a functional currency other than the Canadian dollar, and is translated into Canadian dollars at the exchange rate at the reporting date. The income and expenses of this operation are translated into Canadian dollars at the exchange rate at the date of transaction and the foreign currency differences are recognized in other comprehensive income. All other US operations are recognized as having functional currency based on the Canadian dollar. n) Derivative instruments: Derivatives are measured at FVTPL except to the extent that they are designated in a hedging relationship. Derivatives are reported as other assets when they have a positive fair value and as other liabilities when they have a negative fair value. Derivatives may not not Hedge accounting The Bank has elected, as permitted, to apply the hedge accounting requirements of IAS 39. To meet the criteria for hedge accounting, the Bank documents all relationships between hedging instruments and hedged items, how hedge effectiveness is assessed, as well as its risk management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives to specific assets or liabilities on the Consolidated Balance Sheet. The Bank also formally assesses, both at the inception of the hedge and on an ongoing basis, whether the derivatives that are used in hedging transactions are effective in offsetting changes in fair values or cash flows of the hedged items. There are three At the inception of a hedge relationship, the Bank formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge. The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the Bank will assess whether the hedging relationship meets the hedge effectiveness requirements (including an analysis of sources of hedge ineffectiveness and how the hedge effectiveness is assessed). In order to qualify for hedge accounting, a hedging relationship must be expected to be highly effective on a prospective basis and it needs to be demonstrated that it was also highly effective in the previous designated period (i.e., three 80% 125%. The Bank has only fair value hedges outstanding. In a fair value hedge, the change in the fair value of the hedging derivative is recognized in non-interest income in the Consolidated Statements of Income and Comprehensive Income. The change in the fair value of the hedged item attributable to hedge risk is recorded as part of the carrying value of the hedged item (basis adjustment) and is also recognized in non-interest income in the Consolidated Statements of Income and Comprehensive Income. The Bank utilizes fair value hedges primarily to convert fixed rate financial assets to floating rate financial assets. The primary financial instruments designated in fair value hedging relationships are loans. If the derivative expires or is sold, terminated, no In fair value hedges, ineffectiveness arises to the extent that the change in fair value of the hedging items differs from the change in fair value of the hedge risk in the hedged item. Any hedge ineffectiveness is measured and recorded in non-interest income in the Consolidated Statements of Income and Comprehensive Income. Derivative contracts which do not o) Future accounting standard pronouncements: The following accounting standards amendments issued by the IASB will be effective for the Bank’s fiscal year beginning on November 1, 2024 ( 2025 i) Amendments to IFRS 16: September 2022, 16 not 16. ii) Amendments to IAS 1: January 2020 October 2022, 69 76 1 • What is meant by a right to defer settlement; • That a right to defer must exist at the end of the reporting period; • That classification is unaffected by the likelihood that an entity will exercise its deferral right; and, • That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not In addition, a requirement has been introduced to require disclosure when a liability arising from a loan agreement is classified as non-current and the entity’s right to defer settlement is contingent on compliance with future covenants within twelve The amendments noted above are not

Note 4 - Cash

Note 4 - Cash	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of cash and cash equivalents [text block]	4. Cash: Cash is comprised of deposits with regulated financial institutions.

Note 5 - Securities

Note 5 - Securities	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of financial assets [text block]	5. Securities: As at October 31, 2023, 2022 November 9, 2023. November 1, 2023 May 1, 2025.

Note 6 - Loans, Net of Allowanc

Note 6 - Loans, Net of Allowance for Credit Losses	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of loans and advances to customers [text block]	6. Loans, net of allowance for credit losses: The Bank organizes its lending portfolio into the following four The Point-of-Sale Loans and Leases ( POS Financing ) The Commercial Real Estate Mortgages ( CRE Mortgages ) The Commercial Real Estate Loans ( CRE Loans ) The Public Sector and Other Financing ( PSOF ) a) Portfolio analysis: (thousands of Canadian dollars) 2023 2022 Point-of-sale loans and leases $ 2,879,320 $ 2,220,894 Commercial real estate mortgages 889,069 710,369 Commercial real estate loans 8,793 13,165 Public sector and other financing 55,054 35,452 3,832,236 2,979,880 Allowance for credit losses (2,513 ) (1,904 ) Accrued interest 20,681 14,702 Total loans, net of allowance for credit losses $ 3,850,404 $ 2,992,678 The following table provides a summary of loan amounts, ECL allowance amounts, and expected loss (“EL”) rates by lending asset category: As at October 31, 2023 As at October 31, 2022 (thousands of Canadian dollars) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Point-of-sale loans and leases $ 2,873,078 $ 6,242 $ - $ 2,879,320 $ 2,215,388 $ 5,227 $ 279 $ 2,220,894 ECL allowance 100 - - 100 545 - - 545 EL % 0.00 % 0.00 % 0.00 % 0.00 % 0.02 % 0.00 % 0.00 % 0.02 % Commercial real estate mortgages $ 717,755 $ 155,993 $ 15,321 $ 889,069 $ 599,113 $ 111,256 $ - $ 710,369 ECL allowance 1,699 523 - 2,222 1,150 137 - 1,287 EL % 0.24 % 0.34 % 0.00 % 0.25 % 0.19 % 0.12 % 0.00 % 0.18 % Commercial real estate loans $ 8,793 $ - $ - $ 8,793 $ 13,165 $ - $ - $ 13,165 ECL allowance 42 - - 42 54 - - 54 EL % 0.48 % 0.00 % 0.00 % 0.48 % 0.41 % 0.00 % 0.00 % 0.41 % Public sector and other financing $ 49,293 $ 5,761 $ - $ 55,054 $ 35,273 $ 179 $ - $ 35,452 ECL allowance 104 45 - 149 17 1 - 18 EL % 0.21 % 0.78 % 0.00 % 0.27 % 0.05 % 0.56 % 0.00 % 0.05 % Total loans $ 3,648,919 $ 167,996 $ 15,321 $ 3,832,236 $ 2,862,939 $ 116,662 $ 279 $ 2,979,880 Total ECL allowance 1,945 568 - 2,513 1,766 138 - 1,904 Total EL % 0.05 % 0.34 % 0.00 % 0.07 % 0.06 % 0.12 % 0.00 % 0.06 % The Bank’s maximum exposure to credit risk is the carrying value of its financial assets. The Bank holds security against the majority of its loans in the form of either mortgage interests over property, other registered securities over assets, guarantees and cash reserves (holdbacks) on loan and lease receivables included in the POS Financing portfolio (note 13 Allowance for credit losses As set out previously, the Bank must maintain an allowance for expected credit losses that is adequate, in management’s opinion, to absorb all credit related losses in the Bank’s lending and treasury portfolios. Under IFRS 9 no The expected credit loss methodology requires the recognition of credit losses based on 12 1 2 3 Assessment of significant increase in credit risk ( SICR ) At each reporting date, the Bank assesses whether there has been a SICR for loans since initial recognition by comparing, at the reporting date, the risk of default occurring over the remaining expected life against the risk of default at initial recognition. SICR is a function of the loan’s internal risk rating assignment, internal watchlist status, loan review status and delinquency status which are updated as necessary in response to changes including, but not Quantitative models may not may may Expected credit loss model - Estimation of expected credit losses Expected credit losses are an estimate of a loan’s expected cash shortfalls discounted at the effective interest rate, where a cash shortfall is the difference between the contractual cash flows that are due to the Bank and the cash flows that the Bank actually expects to receive. Forward-looking information The Bank incorporates the impact of future economic conditions, or more specifically forward-looking information into the estimation of expected credit losses at the credit risk parameter level. This is accomplished via the credit risk parameter models and proxy datasets that the Bank utilizes to develop PD and LGD term structure forecasts for its loans. The Bank has sourced credit risk modeling systems and forecast macroeconomic scenario data from Moody’s Analytics, a third not third The Bank utilizes macroeconomic indicator data derived from multiple macroeconomic scenarios in order to mitigate volatility in the estimation of expected credit losses, as well as to satisfy the IFRS 9 The macroeconomic indicator data utilized by the Bank for the purpose of sensitizing PD and LGD term structure data to forward economic conditions include, but are not Key assumptions driving the baseline macroeconomic forecast trends included: elevated inflation persisting until late 2024 2024 2023 2024 not supply chains; and, while COVID 19 not Management developed ECL estimates using credit risk parameter term structure forecasts sensitized to individual baseline, upside and downside forecast macroeconomic scenarios, each weighted at 100%, October 31, 2023 Expected credit loss sensitivity: The following table presents the sensitivity of the Bank’s estimated ECL to a range of individual macroeconomic scenarios, that in isolation may not October 31, 2023: (thousands of Canadian dollars) Reported 100% 100% 100% ECL Upside Baseline Downside Allowance for expected credit losses $ 2,513 $ 1,409 $ 1,939 $ 2,975 Variance from reported ECL (1,104 ) (575 ) 462 Variance from reported ECL (%) (44 %) (23 %) 18 % b) Allowance for credit losses: The following table provides a reconciliation of the Bank’s ECL allowance by lending asset category for the year ended October 31, 2023: (thousands of Canadian dollars) Stage 1 Stage 2 Stage 3 Total Point-of-sale loans and leases Balance at beginning of period $ 545 $ - $ - $ 545 Transfer in (out) to Stage 1 160 (160 ) - - Transfer in (out) to Stage 2 (340 ) 340 - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance (265 ) (180 ) - (445 ) Loan originations - - - - Derecognitions and maturities - - - - Provision for (recovery of) credit losses (445 ) - - (445 ) Write-offs - - - - Recoveries - - - - Balance at end of period $ 100 $ - $ - $ 100 Commercial real estate mortgages Balance at beginning of period $ 1,150 $ 137 $ - $ 1,287 Transfer in (out) to Stage 1 279 (279 ) - - Transfer in (out) to Stage 2 (581 ) 581 - - Transfer in (out) to Stage 3 - (13 ) 13 - Net remeasurement of loss allowance 668 113 (13 ) 768 Loan originations 604 4 - 608 Derecognitions and maturities (421 ) (20 ) - (441 ) Provision for (recovery of) credit losses 549 386 - 935 Write-offs - - - - Recoveries - - - - Balance at end of period $ 1,699 $ 523 $ - $ 2,222 Commercial real estate loans Balance at beginning of period $ 54 $ - $ - $ 54 Transfer in (out) to Stage 1 - - - - Transfer in (out) to Stage 2 - - - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance (6 ) - - (6 ) Loan originations - - - - Derecognitions and maturities (6 ) - - (6 ) Provision for (recovery of) credit losses (12 ) - - (12 ) Write-offs - - - - Recoveries - - - - Balance at end of period $ 42 $ - $ - $ 42 Public sector and other financing Balance at beginning of period $ 17 $ 1 $ - $ 18 Transfer in (out) to Stage 1 - - - - Transfer in (out) to Stage 2 (8 ) 8 - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance 12 13 - 25 Loan originations 83 23 - 106 Derecognitions and maturities - - - - Provision for (recovery of) credit losses 87 44 - 131 Write-offs - - - - Recoveries - - - - Balance at end of period $ 104 $ 45 $ - $ 149 Total balance at end of period $ 1,945 $ 568 $ - $ 2,513 b) Allowance for credit losses (continued): The following table provides a reconciliation of the Bank’s ECL allowance by lending asset category for the year ended October 31, 2022: (thousands of Canadian dollars) Stage 1 Stage 2 Stage 3 Total Point-of-sale loans and leases Balance at beginning of period $ 275 $ - $ - $ 275 Transfer in (out) to Stage 1 91 (91 ) - - Transfer in (out) to Stage 2 (186 ) 186 - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance 365 (95 ) - 270 Loan originations - - - - Derecognitions and maturities - - - - Provision for (recovery of) credit losses 270 - - 270 Write-offs - - - - Recoveries - - - - Balance at end of period $ 545 $ - $ - $ 545 Commercial real estate mortgages Balance at beginning of period $ 980 $ 134 $ - $ 1,114 Transfer in (out) to Stage 1 75 (75 ) - - Transfer in (out) to Stage 2 (129 ) 129 - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance 74 (29 ) - 45 Loan originations 286 - - 286 Derecognitions and maturities (136 ) (22 ) - (158 ) Provision for (recovery of) credit losses 170 3 - 173 Write-offs - - - - Recoveries - - - - Balance at end of period $ 1,150 $ 137 $ - $ 1,287 Commercial real estate loans Balance at beginning of period $ 45 $ - $ - $ 45 Transfer in (out) to Stage 1 - - - - Transfer in (out) to Stage 2 - - - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance 9 - - 9 Loan originations - - - - Derecognitions and maturities - - - - Provision for (recovery of) credit losses 9 - - 9 Write-offs - - - - Recoveries - - - - Balance at end of period $ 54 $ - $ - $ 54 Public sector and other financing Balance at beginning of period $ 16 $ 3 $ - $ 19 Transfer in (out) to Stage 1 - - - - Transfer in (out) to Stage 2 - - - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance 2 (2 ) - - Loan originations - - - - Derecognitions and maturities (1 ) - - (1 ) Provision for (recovery of) credit losses 1 (2 ) - (1 ) Write-offs - - - - Recoveries - - - - Balance at end of period $ 17 $ 1 $ - $ 18 Total balance at end of period $ 1,766 $ 138 $ - $ 1,904 c) Maturities and yields: (thousands of Canadian dollars) Within 3 months to 1 year to 2 years to Over 2023 2022 Floating 3 months 1 year 2 years 5 years 5 years Total Total Total loans $ 811,219 $ 101,786 $ 355,277 $ 224,579 $ 1,682,029 $ 657,346 $ 3,832,236 $ 2,979,880 Average effective yield 9.61 % 6.42 % 6.76 % 5.59 % 5.93 % 6.25 % 6.84 % 5.85 % Average effective yields are based on book values and contractual interest rates, adjusted for the amortization of any deferred income and expenses. d) Impaired loans: At October 31, 2023, one October 31, 2022 -

Note 7 - Property and Equipment

Note 7 - Property and Equipment	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of property, plant and equipment [text block]	7. Property and equipment: (thousands of Canadian dollars) 2023 2022 Cost $ 17,827 $ 17,465 Accumulated amortization (11,291 ) (10,597 ) $ 6,536 $ 6,868 None of the Bank’s property and equipment is subject to title restrictions, nor is any pledged as security for any of the Bank’s liabilities. Total amortization expense recorded for property and equipment for the year ended October 31, 2023, 2022 10.

Note 8 - Goodwill

Note 8 - Goodwill	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of goodwill [text block]	8. Goodwill: Goodwill relates to the Bank’s acquisition of Digital Boundary Group and for the purpose of conducting an annual test for impairment, the Bank’s CGU relates specifically to the operations of Digital Boundary Group. The Bank considered the fair value less carrying value calculation in assessing impairment. The key assumptions underlying the impairment test included: 5 2022 2022 2022 The Bank did not five 10.

Note 9 - Intangible Assets

Note 9 - Intangible Assets	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of intangible assets [text block]	9. Intangible assets: As at October 31, 2023, October 31, 2022 - October 31, 2023, 2022 10.

Note 10 - Other Assets

Note 10 - Other Assets	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of other assets [text block]	10. Other assets: (thousands of Canadian dollars) 2023 2022 Accounts receivable $ 3,858 $ 3,774 Prepaid expenses and other (note 10a) 22,130 16,391 Property and equipment (note 7) 6,536 6,868 Right-of-use assets (note 10b) 3,427 4,122 Deferred income tax asset (note 16) 4,058 2,128 Interest rate swap (note 18) 1,517 - Investment (note 10c) 953 953 Goodwill (note 8) 5,754 5,754 Intangible assets (note 9) 2,791 3,185 $ 51,024 $ 43,175 a) The Bank, internally through its DRTC segment has developed proprietary cybersecurity, banking and financial technology products. Costs associated with the development of these products and services have been capitalized in accordance with IAS 38 October 31, 2023, $ 8.1 October 31, 2022 - not not 10 13.8 not b) The right-of-use assets relate to the Bank’s office facility leases. Capitalized leases of $3.4 million at October 31, 2023 For the year ended October 31, 2023, 2022 c) The Bank has an 11% investment in Canada Stablecorp Inc. (“Stablecorp”). The Bank has made an irrevocable election to designate this investment at fair value through other comprehensive income (“FVOCI”) at initial recognition and any future changes in the fair value of the investment will be recognized in other comprehensive not

Note 11 - Deposits

Note 11 - Deposits	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of deposits from banks [text block]	11. Deposits: (thousands of Canadian dollars) Maturity period Demand/ Within 3 months to 1 year to 2 years to Over Accrued 2023 2022 Floating 3 months 1 year 2 years 5 years 5 years Interest Total Total Total deposits $ 555,353 $ 403,000 $ 1,461,075 $ 433,205 $ 618,569 $ - $ 62,164 $ 3,533,366 $ 2,657,540 Average effective interest rate 3.94 % 3.93 % 4.66 % 3.71 % 4.17 % 4.18 % 2.74 % Average effective interest rates are based on book values and contractual interest rates.

Note 12 - Subordinated Notes Pa

Note 12 - Subordinated Notes Payable	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of borrowings [text block]	12. Subordinated notes payable: (thousands of Canadian dollars) 2023 2022 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 22), fixed effective interest rate of 10.41%, maturing March 2029. $ 4,919 $ 4,908 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. 101,931 100,043 $ 106,850 $ 104,951

Note 13 - Other Liabilities

Note 13 - Other Liabilities	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of other liabilities [text block]	13. Other liabilities: (thousands of Canadian dollars) 2023 2022 Accounts payable and other $ 9,681 $ 7,662 Current income tax liability 7,466 5,797 Deferred income tax liability (note 16) 731 786 Lease obligations 3,771 4,471 Cash collateral and amounts held in escrow (note 6) 8,818 8,006 Cash reserves on loan and lease receivables (note 6) 153,769 126,110 $ 184,236 $ 152,832 Lease obligations reflect the Bank’s liabilities for right-of-use assets which capture the Bank’s multiple leased premises. The portion of the Bank’s leasing obligations that were not 2023. The current leasing arrangements associated with these lease obligations expire between October 2025 December 2045 three five The future lease payments for these non-cancellable lease contracts are $735,000 within one five

Note 14 - Share Capital

Note 14 - Share Capital	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of classes of share capital [text block]	14. Share capital: a) Authorized: The Bank is authorized to issue an unlimited number of voting common shares with no par value. The Bank is authorized to issue an unlimited number of Series 1 b) Issued and outstanding: (thousands of Canadian dollars) 2023 2022 Shares Amount Shares Amount Common shares: Balance, beginning of the year 27,245,782 $ 225,982 27,441,082 $ 227,674 Options exercised during the year 40,000 280 - - Purchased and cancelled during the year (1,321,358 ) (11,438 ) (195,300 ) (1,692 ) Outstanding, end of year 25,964,424 $ 214,824 27,245,782 $ 225,982 Series 1 preferred shares: Outstanding, beginning and end of year 1,461,460 $ 13,647 1,461,460 $ 13,647 Total share capital $ 228,471 $ 239,629 Common shares On August 5, 2022, September 21, 2022, 9.54% The Bank was eligible to make purchases commencing on August 17, 2022 August 16, 2023. no For the year ended October 31, 2023, 2022 2022 2022 2022 For the year ended October 31, 2023, Series 1 The Bank is authorized to issue an unlimited number of Series 1 five The holders of the Series 1 October 31, 2024. five five The Bank maintains the right to redeem, subject to the approval of OSFI, up to all of the outstanding Series 1 October 31, 2024 October 31 five not 1 2 2 90 Upon the occurrence of a trigger event (as defined by OSFI), each Series 1 2 ten For the year ended October 31, 2023,

Note 15 - Stock-based Compensat

Note 15 - Stock-based Compensation	12 Months Ended
	Oct. 31, 2023
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 third first one third second one third third 2023 2022 Weighted Weighted Number of average Number of average options exercise price options exercise price Outstanding, beginning of period 965,766 $ 15.53 40,000 $ 7.00 Granted 1,500 15.90 971,707 15.90 Exercised (40,000 ) 7.00 - - Forfeited/cancelled (52,873 ) 15.90 (45,941 ) 15.90 Expired - - - - Outstanding, end of period 874,393 $ 15.90 965,766 $ 15.53 For the year ended October 31, 2023, 2022 2022 2022 2022 2022 2022

Note 16 - Income Taxes

Note 16 - Income Taxes	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of income tax [text block]	16. Income taxes: Income taxes, including both the current and deferred portions, vary from the amounts that would be computed by applying the aggregated statutory federal tax rates and provincial tax rates of 27% ( 2022 (thousands of Canadian dollars) 2023 2022 Income before income taxes $ 57,645 $ 32,548 Income tax rate 27 % 27 % Expected income tax provision 15,564 8,788 Tax rate differential (569 ) 172 Unrecognized deferred tax asset 136 411 Other permanent differences 352 519 Income taxes $ 15,483 $ 9,890 Income taxes is comprised of the following: (thousands of Canadian dollars) 2023 2022 Current income taxes $ 17,468 $ 9,199 Deferred income taxes (1,985 ) 691 Income taxes $ 15,483 $ 9,890 The components of the recognized deferred income tax assets (liabilities) and related changes, as recognized in net income, equity or accumulated comprehensive income, are as follows: (thousands of Canadian dollars) Recognized November 1, in net October 31, 2022 income 2023 Allowance for credit losses $ 508 $ 158 $ 666 Loss carry forwards - 1,625 1,625 Share issue and financing costs 909 (463 ) 446 Deposit commissions (1,227 ) (596 ) (1,823 ) Intangibles assets (786 ) 188 (598 ) Deferred loan fees 658 160 818 Other 1,280 913 2,193 Net deferred income tax assets $ 1,342 $ 1,985 $ 3,327 (thousands of Canadian dollars) Recognized November 1, in net October 31, 2021 income 2022 Allowance for credit losses $ 388 $ 120 $ 508 Loss carry forwards 338 (338 ) - Share issue and financing costs 1,373 (464 ) 909 Deposit commissions (981 ) (246 ) (1,227 ) Intangibles assets (898 ) 112 (786 ) Deferred loan fees 757 (99 ) 658 Other 1,056 224 1,280 Net deferred income tax assets $ 2,033 $ (691 ) $ 1,342 The net deferred taxes are comprised of: (thousands of Canadian dollars) 2023 2022 Deferred tax assets $ 4,058 $ 2,128 Deferred tax liabilities (731 ) (786 ) Net deferred income tax assets $ 3,327 $ 1,342 A deferred tax asset in the amount of $1.8 million ( 2022 relates. The Bank has forecasted earnings in this tax jurisdiction which will allow for the use of these deferred tax assets. The Bank is subject to Part VI.1 40% VI.1 2022 At October 31, 2023, 2022 no 2022 $nil In addition, the Bank has approximately $9.5 million ( 2022 may 2022 $nil A deferred tax liability on taxable temporary differences of approximately $3.5 million ( 2022 not not

Note 17 - Per Share Amounts

Note 17 - Per Share Amounts	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of earnings per share [text block]	17. Per share amounts: Basic and diluted income per common share (thousands of Canadian dollars) 2023 2022 Net income $ 42,162 $ 22,658 Preferred share dividends paid (988 ) (988 ) Net income available to common shareholders 41,174 21,670 Weighted average number of common shares outstanding 26,273,739 27,425,479 Basic and diluted income per common share: $ 1.57 $ 0.79 The Series 1 not no

Note 18 - Derivative Instrument

Note 18 - Derivative Instruments	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of financial assets [text block]	5. Securities: As at October 31, 2023, 2022 November 9, 2023. November 1, 2023 May 1, 2025.
Derivatives [member]
Statement Line Items [Line Items]
Disclosure of financial assets [text block]	18. Derivative instruments: At October 31, 2023, October 31, 2022 - $nil October 31, 2022 - $nil not March 1, 2034. October 31, 2023, October 31, 2022 - $nil

Note 19 - Nature and Extent of

Note 19 - Nature and Extent of Risks Arising from Financial Instruments	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of nature and extent of risks arising from financial instruments [text block]	19. Nature and extent of risks arising from financial instruments: Risk management involves the identification, ongoing assessment, managing and monitoring of material risks that could adversely affect the Bank. The Bank is exposed to credit risk, liquidity risk, and market risks. Senior management is responsible for establishing the framework for identifying risks and developing appropriate risk management policies and procedures. The Bank’s Board of Directors, either directly or indirectly through its committees, reviews and approves corporate policies, including specific reporting procedures. This enables them to monitor ongoing compliance with policies, delegate limits and review management’s assessment of risk in its material risk taking activities. The Bank’s Chief Internal Auditor provides a periodic review of policies and procedures to ensure that they are appropriate, effective and being followed and that adequate controls are in place in order to mitigate risk to acceptable levels. The Chief Internal Auditor reports directly to the Audit Committee of the Board of Directors. In addition, the Bank has an ongoing risk and compliance management program with the Chief Compliance Officer, who reports directly to the Board of Directors, and the Chief Risk Officer, who reports directly to the Risk Oversight Committee. Credit risk Credit risk is the risk of loss associated with a borrower, guarantor, or counterparty’s inability or unwillingness to fulfill its contractual obligations. The Bank is exposed to credit risk primarily as a result of its lending activities but also, from time to time, as a result of investing in securities and derivative transactions. The Bank manages its credit risk derived from lending activity using policies that have been recommended by the Chief Credit Officer and reviewed by the Chief Risk Officer prior to submission the to the Risk Oversight Committee, who then recommends the policies to the Board of Directors for approval. These policies consist of approval procedures and limits on loan amounts, portfolio concentration, geographic concentration, industry concentration, asset category, loans to any one The Bank manages credit risk associated with securities included in its Treasury portfolio by applying policies that have been recommended by the Chief Credit Officer to the Risk Oversight Committee, which then recommends the policies to the Board of Directors for approval. These policies consist of approval procedures and restrictions in the selection of security dealers, restrictions in the nature of securities selected, and in setting securities portfolio concentration limits. The Risk Oversight Committee reviews these policies on an ongoing basis. The Risk Oversight Committee, comprised entirely of independent directors, performs the following functions related to credit risk: ● Recommends policies governing management of credit risks to the Board of Directors for approval and reviews credit risk policies on an ongoing basis to ensure they are prudent and appropriate given possible changes in market conditions and corporate strategy. ● Concurs with credits exceeding the levels delegated to management, prior to commitment. ● Reviews, on a regular basis, watchlist accounts, impaired loans and accounts that have gone into arrears and expected credit loss analysis on a quarterly basis. The Bank assigns a risk rating to each lending asset comprising its lending portfolio. A risk rating is assigned as a function of each new credit application, annual review or an amendment to a facility. The risk rating considers the credit risk attributes of the lending asset, structure, individual borrower circumstances as well as local, regional and global macroeconomic and market conditions. The Bank aggregates its risk rating assignments into the following three i) Satisfactory – The borrower and lending asset valuation are of acceptable credit quality. ii) Watchlist – The borrower or the lending asset valuation exhibits potential credit weakness or a downward trend which, if not iii) Classified – The collection of the structural payment and/or the full repayment of the lending asset is uncertain. As of October 31, 2023, See note 6 There was no Liquidity risk Liquidity risk is the risk that the Bank is unable to meet the demand for cash to fund obligations as they come due. The Bank is exposed to liquidity risk as a result of timing differences in the cash flows of its lending activities, security investment activities and deposit taking activities. The Bank has established policies to ensure that its cash outflows and inflows are closely matched and that its sources of deposits are diversified between funding sources and over a wide geographic area. The Risk Oversight Committee recommends policies governing management of liquidity risk to the Board for approval and reviews liquidity policies on an ongoing basis. It receives and reviews quarterly securities portfolio reports and liquidity risk reports from management relating to its liquidity position. Additionally, an Asset Liability Committee, consisting of members of senior management, monitors liquidity risk, reviews compliance with policies and discusses strategies in this area. See note 20 no Market risk Market risk is the risk of a negative impact on the balance sheet and/or income statement resulting from changes or volatility in market factors such as foreign exchange risk, interest rates, or market prices. The Risk Oversight Committee is charged with recommending policies that govern market risk to the Bank’s Board of Directors for approval and with reviewing the policies on an ongoing basis. Foreign exchange risk Foreign exchange risk or currency risk is the risk that transacting in any currency apart from the Bank’s base currency can result in gains or losses due to currency fluctuations resulting in the possibility that a foreign denominated transaction’s value may Interest rate risk Interest rate risk is the risk that a movement in interest rates could negatively impact spread, net interest income and the economic value of assets, liabilities and shareholders’ equity. The Bank manages interest rate risk by employing a number of methods including income simulation analysis and interest rate sensitivity gap and duration analysis. Management prepares regular reports to the Board to allow for ongoing monitoring of the Bank’s interest rate risk position. The Asset Liability Committee reviews the results of these analyses on a monthly basis and monitors compliance with limits set by corporate policy. The management of interest rate risk also includes stress testing the Bank’s financial assets and liabilities to various standard and non-standard interest rate scenarios. Standard scenarios that are considered include a 100 The results of an analysis of the Bank’s sensitivity to an increase or decrease in market interest rates, assuming no Interest rate position (thousands of Canadian dollars) 2023 2022 Increase 100 bps Decrease 100 bps Increase 100 bps Decrease 100 bps Increase (decrease): Impact of projected net interest income during a 12 month period $ 4,046 $ (4,059 ) $ 4,304 $ (4,261 ) Duration difference between assets and liabilities (months) (2.0 ) 1.4 There was no As at October 31, 2023, one 18 October 31, 2022 - $nil

Note 20 - Interest Rate Risk an

Note 20 - Interest Rate Risk and Liquidity Risk	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of how entity manages liquidity risk [text block]	20. Interest rate risk and liquidity risk: The Bank is exposed to interest rate risk as a consequence of any mismatch, or gap, between assets and liabilities scheduled to mature or reset on particular dates. The gaps, which existed at October 31, 2023 (thousands of Canadian dollars) Floating Within 3 months to 1 year to 2 years to Over Non-interest rate 3 months 1 year 2 years 5 years 5 years rate sensitive Total Assets Cash $ 132,242 $ - $ - $ - $ - $ - $ 132,242 Effective rate 4.90 % Securities - 164,930 - 3,010 - - - 167,940 Effective rate 4.72 % 4.76 % Loans 811,219 101,786 355,277 224,579 1,682,029 657,346 18,168 3,850,404 Effective rate 9.61 % 6.42 % 6.76 % 5.59 % 5.93 % 6.25 % Other - - - - - - 51,024 51,024 Effective rate Total Assets $ 943,461 $ 266,716 $ 355,277 $ 227,589 $ 1,682,029 $ 657,346 $ 69,192 $ 4,201,610 Liabilities Deposits $ 555,353 $ 403,000 $ 1,461,075 $ 433,205 $ 618,569 $ - $ 62,164 $ 3,533,366 Effective rate 3.94 % 3.93 % 4.66 % 3.71 % 4.17 % Subordinated notes - - - - - 106,850 - 106,850 Effective rate 5.61 % Other 162,587 - - - - - 21,649 184,236 Effective rate 4.05 % Equity - - - 13,647 - - 363,511 377,158 Effective rate 6.77 % Total liabilities and equity $ 717,940 $ 403,000 $ 1,461,075 $ 446,852 $ 618,569 $ 106,850 $ 447,324 $ 4,201,610 Interest rate swap $ 20,785 $ - $ - $ - $ - $ (20,785 ) $ - $ - October 31, 2023 gap $ 246,306 $ (136,284 ) $ (1,105,798 ) $ (219,263 ) $ 1,063,460 $ 529,711 $ (378,132 ) $ - Cumulative $ 246,306 $ 110,022 $ (995,776 ) $ (1,215,039 ) $ (151,579 ) $ 378,132 $ - $ - October 31, 2022 gap $ 116,936 $ (47,087 ) $ (383,153 ) $ (291,346 ) $ 623,906 $ 307,416 $ (326,672 ) $ - Cumulative $ 116,936 $ 69,849 $ (313,304 ) $ (604,650 ) $ 19,256 $ 326,672 $ - $ -

Note 21 - Fair Value of Financi

Note 21 - Fair Value of Financial Instruments	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of fair value of financial instruments [text block]	21. Fair value of financial instruments: The amounts set out in the table below represent the fair value of the Bank’s financial instruments: (thousands of Canadian dollars) 2023 2022 Carrying Value Fair value Level 1 Fair Value Level 2 Fair Value Level 3 Total Fair Value Carrying Value Total Fair Value Assets Cash $ 132,242 $ 132,242 $ - $ - $ 132,242 $ 88,581 $ 88,581 Securities 167,940 167,940 - - 167,940 141,564 141,564 Loans 3,850,404 - - 3,837,599 3,837,599 2,992,678 2,963,676 Derivatives 1,517 - 1,517 - 1,517 - - Other financial assets 953 - - 953 953 953 953 Liabilities Deposits $ 3,533,366 $ - $ - $ 3,436,491 $ 3,436,491 $ 2,657,540 $ 2,561,421 Subordinated notes payable 106,850 - 109,033 - 109,033 104,951 107,368 Other financial liabilities 176,039 - - 176,039 176,039 146,249 146,249 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 matters of judgment and as such, may not not not The fair value amounts have been determined using the following valuation methods and assumptions: • For securities, the combined carrying value and accrued interest approximates fair value. • The fair value of loans is based on net discounted cash flows using market interest rates and applicable credit spreads for borrowers. • The fair value of deposits is determined based on discounted cash flows using market interest rates. • The fair value of subordinated notes payable is determined based on discounted cash flows using current market interest rates. • The investment in Stablecorp which is measured at fair value at each reporting period with changes in value reflected in the Bank’s other comprehensive income. The estimated fair value of the Stablecorp investment is classified as Level 3 not • The fair value of derivatives is based on net discounted cash flows using market interest rates and applicable credit spreads for the counterparty. • The fair value of other financial assets is approximately equal to their carrying value due primarily to the short-term nature of the instruments. • The fair value of other financial liabilities is approximately equal to their carrying value due to the short-term nature of the instruments except for lease obligations. However, the fair value of the Bank’s lease obligations is approximately equal to their carrying value given that there has been no • Cash and derivatives are designated as FVTPL. • Loans, deposits and subordinated notes payable are designated as amortized cost. • Securities and other financial assets are designated as FVOCI.

Note 22 - Related Party Transac

Note 22 - Related Party Transactions	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of related party [text block]	22. Related party transactions: The Bank’s Board of Directors and Senior Executive Officers represent key management personnel and the Bank has issued loans and advances to some of these individuals. At October 31, 2023, 2022 2022 October 31, 2023 2022 2022 $nil October 31, 2023 2022. In March 2019, March 2029 ( 12 Total compensation expense recognized for key management personnel for the year ended October 31, 2023, 2022 2022 October 31, 2023,

Note 23 - Commitments and Conti

Note 23 - Commitments and Contingencies	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of commitments and contingent liabilities [text block]	23. Commitments and contingencies: a) Credit commitments: The amount of credit related commitments represents the maximum amount of additional credit that the Bank could be obliged to extend. Under certain circumstances, the Bank may not one (thousands of Canadian dollars) 2023 2022 Loan commitments $ 405,426 $ 382,851 Letters of credit 75,963 60,273 $ 481,389 $ 443,124 b) Pledged assets: In the ordinary course of business, assets are pledged against the off-balance sheet letters of credit in the amount of $11.3 million ( 2022 c) Other commitments: During the current year the Bank committed to acquire capital assets in the amount of approximately $17.5 million in fiscal 2024.

Note 24 - Capital Management

Note 24 - Capital Management	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of objectives, policies and processes for managing capital [text block]	24. Capital management: a) Overview: The Bank’s policy is to maintain a strong capital base so as to retain investor, creditor and market confidence as well as to support the future growth and development of the business. The impact of the level of capital held on shareholders’ return is an important consideration and the Bank recognizes the need to maintain a balance between the higher returns that may may The goal is to maintain adequate regulatory capital for the Bank to be considered well capitalized, protect consumer deposits and provide capacity to support organic growth as well as to capitalize on strategic opportunities that do not 1 1 2 a) Overview - continued The Bank makes use of the Standardized Approach for credit risk as prescribed by OSFI, and therefore, may 2 b) Risk-based capital ratios: The Basel Committee on Banking Supervision has published the Basel III rules on capital adequacy and liquidity (“Basel III”). OSFI requires that all Canadian banks must comply with the Basel III standards on an “all-in” basis for the purpose of determining their risk-based capital ratios. Required minimum regulatory capital ratios are a 7.0% Common Equity Tier 1 “CET1” 1 OSFI also requires banks to measure capital adequacy in accordance with guidelines for determining risk adjusted capital and risk-weighted assets including off-balance sheet credit instruments as specified in the Basel III regulations. Based on the deemed credit risk for each type of asset, both on and off balance sheet assets of the Bank are assigned a weighting ranging between 0% 150% The Bank’s risk-based capital ratios are calculated as follows: (thousands of Canadian dollars) 2023 2022 Common Equity Tier 1 (CET1) capital Directly issued qualifying common share capital $ 214,824 $ 225,982 Contributed surplus 2,513 1,612 Retained earnings 146,043 109,335 Accumulated other comprehensive income 131 99 CET1 before regulatory adjustments 363,511 337,028 Regulatory adjustments applied to CET1 (12,699 ) (11,371 ) Common Equity Tier 1 capital $ 350,812 $ 325,657 Additional Tier 1 capital Directly issued qualifying Additional Tier 1 instruments $ 13,647 $ 13,647 Total Tier 1 capital $ 364,459 $ 339,304 Tier 2 capital Directly issued Tier 2 capital instruments $ 109,033 $ 107,367 Tier 2 capital before regulatory adjustments 109,033 107,367 Eligible stage 1 and stage 2 allowance 2,513 1,904 Total Tier 2 capital $ 111,546 $ 109,271 Total regulatory capital $ 476,005 $ 448,575 Total risk-weighted assets $ 3,095,092 $ 2,714,902 Capital ratios CET1 capital ratio 11.33 % 12.00 % Tier 1 capital ratio 11.78 % 12.50 % Total capital ratio 15.38 % 16.52 % As at October 31, 2023 2022, c) Leverage ratio The leverage ratio, which is prescribed under the Basel III Accord, is a supplementary measure to the risk-based capital requirements and is defined as the ratio of Tier 1 (thousands of Canadian dollars) 2023 2022 On-balance sheet assets $ 4,201,610 $ 3,265,998 Asset amounts adjusted in determining the Basel III Tier 1 capital (12,699 ) (11,371 ) Total on-balance sheet exposures 4,188,911 3,254,627 Total off-balance sheet exposure at gross notional amount $ 481,389 $ 443,124 Adjustments for conversion to credit equivalent amount (281,705 ) (251,101 ) Total off-balance sheet exposures 199,684 192,023 Tier 1 capital 364,459 339,304 Total exposures 4,388,595 3,446,650 Leverage ratio 8.30 % 9.84 % As at October 31, 2023 2022,

Note 25 - Operating Segments

Note 25 - Operating Segments	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of entity's operating segments [text block]	25. Operating segments: The Bank has established two two Digital Banking DRTC (cybersecurity services and banking and financial technology development) The basis for the determination of the reportable segments is a function primarily of the systematic, consistent process employed by our chief operating decision maker, the Chief Executive Officer, and the Chief Financial Officer in reviewing and interpreting the operations and performance of each segment. The accounting policies applied to these segments are consistent with those employed in the preparation of our consolidated financial statements, as disclosed in note 3b Performance is measured based on segment net income, as included in the Bank’s internal management reporting. Management has determined that this measure is the most relevant in evaluating segment results and in the allocation of resources. Following is information regarding the results of each reportable operating segment as at and for the year ended October 31, 2023 2022: (thousands of Canadian dollars) for the year ended October 31, 2023 October 31, 2022 Digital DRTC Eliminations/ Consolidated Digital DRTC Eliminations/ Consolidated Banking Adjustments Banking Adjustments Net interest income $ 100,051 $ - $ - $ 100,051 $ 76,666 $ - $ - $ 76,666 Non-interest income 540 9,698 (1,654 ) 8,584 52 5,839 (165 ) 5,726 Total revenue 100,591 9,698 (1,654 ) 108,635 76,718 5,839 (165 ) 82,392 Provision for (recovery of) credit losses 609 - - 609 451 - - 451 99,982 9,698 (1,654 ) 108,026 76,267 5,839 (165 ) 81,941 Non-interest expenses: Salaries and benefits 25,382 6,046 - 31,428 22,303 4,493 - 26,796 General and administrative 15,140 1,565 (1,654 ) 15,051 17,614 1,283 (165 ) 18,732 Premises and equipment 2,462 1,440 - 3,902 2,475 1,390 - 3,865 42,984 9,051 (1,654 ) 50,381 42,392 7,166 (165 ) 49,393 Income (loss) before income taxes 56,998 647 - 57,645 33,875 (1,327 ) - 32,548 Income tax provision 15,867 (384 ) - 15,483 9,744 146 - 9,890 Net income (loss) $ 41,131 $ 1,031 $ - $ 42,162 $ 24,131 $ (1,473 ) $ - $ 22,658 Total assets $ 4,190,876 $ 26,443 $ (15,709 ) $ 4,201,610 $ 3,267,479 $ 22,345 $ (23,826 ) $ 3,265,998 Total liabilities $ 3,818,412 $ 28,788 $ (22,748 ) $ 3,824,452 $ 2,912,249 $ 25,755 $ (22,681 ) $ 2,915,323

Note 26 - Acquisitions

Note 26 - Acquisitions	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of business combinations [text block]	26. Acquisitions: Proposed acquisition of Stearns Bank Holdingford, N.A. On June 10, 2022, USD $60 million in total assets to VersaBank’s balance sheet, subject to any adjustments at closing. The acquisition is intended to provide VersaBank with access to US deposits to expand the growth of its receivable purchase program business, which VersaBank launched in the US in the previous year. Subject to customary closing conditions, including regulatory approval by the OCC, the Federal Reserve and OSFI, the transaction is anticipated to close during the first 2024.

Note 27 - Comparative Informati

Note 27 - Comparative Information	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of reclassifications or changes in presentation [text block]	27. Comparative information: The financial statements have been reclassified, where applicable, to conform to the presentation used in the current year. The changes do not Cash flows related to investments in securities for the current and comparative periods were incorrectly reclassified from investing activity to operating activity in each of the three October 31, 2023. October 31, 2023. no October 31, 2022.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Oct. 31, 2023
Discloure of Significant Accounting Policies
Description of accounting policy for subsidiaries [text block]	a) Principles of consolidation: The Bank holds 100% of the common shares of DRT Cyber Inc., VersaHoldings US Corp. and VersaJet Inc. DRT Cyber Inc. holds 100% of the common shares of Digital Boundary Group Canada Inc. and Digital Boundary Group Inc. (“Digital Boundary Group”). VersaHoldings US Corp. holds 100% of the common shares of VersaFinance US Corp. The Consolidated Financial Statements include the accounts of these subsidiaries. All significant intercompany accounts and transactions have been eliminated.
Description of accounting policy for segment reporting [text block]	b) Segment reporting: The Bank’s management has established two reportable operating segments, those being Digital Banking and DRTC. Details of the Bank’s segment reporting are set out in note 25.
Description of accounting policy for business combinations [text block]	c) Business combinations The Bank expects to apply IFRS 3 26
Description of accounting policy for recognition of revenue [text block]	d) Revenue recognition: Interest income on cash, securities and loans is recognized in net interest income using the effective interest rate method over the expected life of the instrument. Interest income earned but not Interest income is recognized on impaired loans and is accrued using the rate of interest used to discount the future cash flows for purposes of measuring the impairment loss. Loan fees integral to the yield on the loan are amortized to interest income using the effective interest rate method; otherwise, the fees are recorded in non-interest income. The Bank’s non-interest income stream is substantially derived from the operations of DRTC and its wholly owned subsidiaries. DRTC generates professional services revenue primarily from fees charged for IT security assurance services, supervisory control and data acquisition system assessments, as well as IT security training. Revenue is recognized when service is rendered and performance obligations have been satisfied and no
Description of accounting policy for financial instruments [text block]	e) Financial instruments: Classification and measurement Under IFRS 9, through profit or loss or fair value through other comprehensive income. Financial assets are required to be reclassified when the business model under which they are managed has changed. Any reclassifications are applied prospectively from the reclassification date. All financial liabilities are measured at amortized cost unless elected otherwise. Debt instruments Financial assets that are debt instruments are categorized into one • amortized cost; • fair value through other comprehensive income (“FVOCI”); • fair value through profit and loss (“FVTPL”). The characterization of a debt instrument’s cashflows is determined through a solely payment of principal and interest (“SPPI”) test. The SPPI test is conducted to identify whether the contractual cash flows of a debt instrument are in fact solely payments of principal and interest and are consistent with a basic lending arrangement. In the context of the SPPI test, “Principal” is defined as the fair value of the debt instrument at origination or initial recognition, which may The Bank’s loans are categorized and measured as amortized cost. Debt instruments with contractual cash flows that meet the SPPI test and are managed on a hold to collect basis are measured at amortized cost. These financial instruments are recognized initially at fair value plus direct and incremental transaction costs, and are subsequently measured at amortized cost, using the effective interest rate method, net of an allowance for credit losses. The effective interest rate is the rate that discounts estimated future cashflows through the expected life of the instrument to the gross carrying amount of the instrument. Amortized cost is calculated as a function of the effective interest rate, taking into account any discount or premium on acquisition, transaction costs and fees. Amortization of these costs is included in interest income in the consolidated statement of income. The Bank’s securities are measured at fair value and categorized as FVOCI. Equity instruments Equity instruments are measured at fair value and categorized as FVTPL unless an irrevocable designation is made at initial recognition to categorize as FVOCI. Gains or losses from changes in the fair value of equity financial instruments designated at FVOCI, including any related foreign exchange gains or losses, are recognized in other comprehensive income (“OCI”). Amounts recognized in OCI are not The Bank has categorized its investment in Canada Stablecorp Inc. as FVOCI and it is carried at fair value. Allowance for expected credit losses The Bank must maintain an allowance for expected credit losses (“ECL”) that is adequate, in management’s opinion, to absorb all credit related losses in the Bank’s lending and treasury portfolios. The Bank’s allowance for expected credit losses is estimated using the ECL methodology and is comprised of expected credit losses recognized on all financial assets that are debt instruments, classified either as amortized cost or as FVOCI, and on all loan commitments and financial guarantees that are not Expected credit losses represent unbiased and probability-weighted estimates that are modeled as a function of a range of possible outcomes as well as the time value of money, and reasonable and supportable information about past events, current conditions and forecasts of future economic conditions, or more specifically forward-looking information (“FLI”) (see Forward-looking information below). The Bank’s ECL or impairment model estimates 12 not Loans or other financial instruments that have not 1, 2, 3. designation, the Bank’s loans or other financial instruments may Assessment of significant increase in credit risk At each reporting date, the Bank assesses whether or not not Quantitative models may not may may With regards to delinquency and monitoring, there is a rebuttable presumption that the credit risk of a loan or other financial instrument has increased since initial recognition when contractual payments are more than 30 60 may may not Expected credit loss model - Estimation of expected credit losses Expected credit losses are an estimate of a loan’s expected cash shortfalls discounted at the effective interest rate, where a cash shortfall is the difference between the contractual cash flows that are due to the Bank and the cash flows that the Bank actually expects to receive. The ECL calculation is a function of the credit risk parameters; probability of default, loss given default, and exposure at default associated with each loan, sensitized to future market and macroeconomic conditions through the incorporation of FLI derived from multiple economic forecast scenarios, including baseline, upside, and downside scenarios. For clarity: • The probability of default (“PD”) for a loan or a financial instrument is an estimate of the likelihood of default of that instrument over a given time horizon; • The loss given default (“LGD”) for a loan or financial instrument is an estimate of the loss arising in the case where a default of that instrument occurs at a given time or over a given period; and, • The exposure at default (“EAD”) for a loan or financial instrument is an estimate of the Bank’s exposure derived from that instrument at a future default date. The Bank’s ECL model develops contractual cashflow profiles for loans as a function of a number of underlying assumptions and a broad range of input variables. The expected cashflow schedules are subsequently derived from the contractual cashflow schedules, adjusted for incremental default amounts, forgone interest, and recovery amounts. The finalized contractual and expected cashflow schedules are subsequently discounted at the effective interest rate to determine the expected cash shortfall or expected credit losses for each individual loan or financial instrument. Individual allowances are estimated for loans or other financial instruments that are determined to be credit impaired and that have been designated as stage 3. may may not 90 3, 3 12 1 2 3 Forward-looking information IFRS 9 9 9 The Bank incorporates the impact of future economic conditions, or more specifically forward-looking information into the estimation of expected credit losses at the credit risk parameter level. This is accomplished via the credit risk parameter models and proxy datasets that the Bank utilizes to develop PD and LGD term structure forecasts for its loans. The Bank has sourced credit risk modeling systems and forecast macroeconomic scenario data from Moody’s Analytics, a third not third The Bank utilizes macroeconomic indicator data derived from multiple macroeconomic scenarios comprised of baseline, upside, and downside scenarios in order to mitigate volatility in the estimation of expected credit losses as well as to satisfy the IFRS 9 The macroeconomic indicator data utilized by the Bank for the purpose of sensitizing PD and LGD term structure data to forward economic conditions include, but are not Modified financial instruments If the terms of a financial instrument are modified or an existing financial instrument is replaced with a new one, an assessment is made to determine if the financial instrument should be derecognized. Where the modification does not Fair value of financial instruments Estimates of fair value are developed using a variety of valuation methods and assumptions. The Bank follows a fair value hierarchy to categorize the inputs used to measure fair value for its financial instruments. The fair value hierarchy is based on quoted prices in active markets (Level 1 2 not 3 Valuation models may may may
Description of accounting policy for property, plant and equipment [text block]	f) Property and equipment: Property and equipment is carried at cost less accumulated amortization and impairment. Amortization on property and equipment is calculated primarily using the straight-line method over the useful life of the equipment which typically ranges between 5 and 20 years. Property and equipment is subject to an impairment review if there are events or changes in circumstances which indicate that the carrying amounts may not
Description of accounting policy for intangible assets and goodwill [text block]	g) Goodwill and intangible assets: Goodwill is the residual amount that results when the purchase price of an acquired business exceeds the value allocated to the tangible and intangible assets, less liabilities assumed, based on their fair values. Goodwill is not first not Intangible assets acquired in a business acquisition are recorded at their fair value. In subsequent reporting periods, intangible assets are carried at cost less accumulated amortization and accumulated impairment losses. Amortization is recorded on a straight-line basis over the expected useful life of the intangible asset. At each reporting date, the carrying value of intangible assets are reviewed for indicators of impairment. If such an indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generate cash flows from continuing use that are largely independent of the cash inflows of other assets or groups of assets or CGU’s. If the recoverable amount of an asset or CGU is estimated to be less than its carrying amount, the carrying amount is reduced to its recoverable amount and the impairment loss is recognized in profit or loss. The recoverable amount of an asset or CGU is the higher of fair value less costs to sell and value in use. In assessing fair value less cost to sell the estimated future cash flows are discounted at a rate that reflects current market assessments of the time value of money and the risks specific to the assets. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. When an impairment loss is subsequently reversed, the carrying amount of the asset is increased to the revised estimate of its recoverable amount so that the increased carrying amount does not no The Bank develops proprietary cybersecurity, banking and financial technology. Any research or early-stage scoping activities are expensed as incurred in the period. The Bank recognizes internally generated intangible assets on the development of proprietary technology when it has determined that there is technical feasibility and resources available to complete a product, demonstrated an existence of an established market for the product as well as support to generate future revenues or derive future economic benefits from the product. As these intangible assets are not
Description of accounting policy for income tax [text block]	h) Income taxes: Current income taxes are calculated based on taxable income for the reporting period. Taxable income differs from accounting income because of differences in the inclusion and deductibility of certain components of income which are established by taxation authorities. Current income taxes are measured at the amount expected to be recovered or paid using statutory tax rates at the reporting period end. The Bank follows the asset and liability method of accounting for deferred income taxes. Deferred income tax assets and liabilities arise from temporary differences between financial statement carrying values and the respective tax base of those assets and liabilities. Deferred income tax assets and liabilities are measured using enacted or substantively enacted tax rates expected to apply to taxable income in the years when temporary differences are expected to be recovered or settled. Deferred income tax assets are recognized in the Consolidated Financial Statements to the extent that it is probable that the Bank will have sufficient taxable income to enable the benefit of the deferred income tax asset to be realized. Unrecognized deferred income tax assets are reassessed for recoverability at the end of each reporting period. Current and deferred income taxes are recorded in income for the period, except to the extent that the tax arose from a transaction that is recorded either in Other Comprehensive Income or Equity, in which case the income tax on the transaction will also be recorded either in Other Comprehensive Income or Equity. Accordingly, current and deferred income taxes are presented in the Consolidated Financial Statements as a component of income, or as a component of Other Comprehensive Income.
Description of accounting policy for employee benefits [text block]	i) Employee benefits: i) Short-term benefits: Short-term employee benefit obligations are recognized as employees render their services and are measured on an undiscounted basis. A liability is recognized for the amount expected to be paid under a short-term cash bonus plan if the Bank has an obligation to make such payments as a result of past service provided by the employee and the obligation can be estimated reliably. ii) Share-based payment transactions: Equity-settled stock options Employee stock options are measured using the Black-Scholes pricing model which is used to estimate the fair value of the options at the date of grant. Inputs to the Black-Scholes model include the closing share price on the grant date, the exercise price, the expected option life, the expected dividend yield, the expected volatility and the risk-free interest rate. Once the expected option life is determined, it is used in formulating the estimates of expected volatility and the risk-free rate. Expected future volatility is estimated using a historical volatility look-back period that is consistent with the expected life of the option. The fair value of options which vest immediately are recognized in full as of the grant date, whereas the fair value of options which vest over time are recognized over the vesting period using the graded method which incorporates management’s estimates of the options which are not 15.
Description of accounting policy for issued capital [text block]	j) Share capital: The Bank’s share capital consists of common shares and preferred shares. Costs directly incurred with raising new share capital are charged against equity. Other costs are expensed as incurred.
Description of Accounting Policy for Contributed Surplus [text block]	k) Contributed surplus: Contributed surplus consists of the fair value of stock options granted since inception, less amounts reversed for exercised stock options. If granted options vest and then subsequently expire or are forfeited, no
Description of accounting policy for leases [text block]	l) Leases: At inception of a contract, the Bank assesses whether a contract is, or contains a lease arrangement based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Bank recognizes a right-of-use asset and a lease obligation at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease obligation adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset and/or the site on which it is located, less any lease incentives received. The assets are depreciated to the earlier of the end of useful life of the right-of-use asset or the lease term using the straight-line method as this methodology most closely reflects the expected pattern of consumption of the associated future economic benefits. The lease term includes periods covered by an option to extend if there is reasonable certainty that the Bank will exercise that option. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease obligation. The lease obligation is measured at amortized cost using the effective interest rate method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Bank’s estimate of the amount expected to be payable under a residual value guarantee, or if the Bank changes its assessment of whether it will exercise a purchase, extension or termination option. When the lease obligation is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or the remeasured amount is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. The Bank elects to apply the practical expedient to account for leases for which the lease term ends within 12
Description of accounting policy for foreign currency translation [text block]	m) Foreign currency translation: Transactions in foreign currencies are translated into the respective functional currencies of the Bank and its subsidiaries at the exchange rate at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into Canadian dollars at the exchange rate at the reporting date. Foreign currency differences are recognized in profit and loss. Investments classified as fair value through other comprehensive income denominated in a foreign currency are translated into Canadian dollars at the exchange rate at the reporting date. All resulting changes are recognized in other comprehensive income. Foreign operations The assets and liabilities of Digital Boundary Group Inc., a US operation of the Bank, has a functional currency other than the Canadian dollar, and is translated into Canadian dollars at the exchange rate at the reporting date. The income and expenses of this operation are translated into Canadian dollars at the exchange rate at the date of transaction and the foreign currency differences are recognized in other comprehensive income. All other US operations are recognized as having functional currency based on the Canadian dollar.
Description of accounting policy for derivative financial instruments [text block]	n) Derivative instruments: Derivatives are measured at FVTPL except to the extent that they are designated in a hedging relationship. Derivatives are reported as other assets when they have a positive fair value and as other liabilities when they have a negative fair value. Derivatives may not not Hedge accounting The Bank has elected, as permitted, to apply the hedge accounting requirements of IAS 39. To meet the criteria for hedge accounting, the Bank documents all relationships between hedging instruments and hedged items, how hedge effectiveness is assessed, as well as its risk management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives to specific assets or liabilities on the Consolidated Balance Sheet. The Bank also formally assesses, both at the inception of the hedge and on an ongoing basis, whether the derivatives that are used in hedging transactions are effective in offsetting changes in fair values or cash flows of the hedged items. There are three At the inception of a hedge relationship, the Bank formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge. The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the Bank will assess whether the hedging relationship meets the hedge effectiveness requirements (including an analysis of sources of hedge ineffectiveness and how the hedge effectiveness is assessed). In order to qualify for hedge accounting, a hedging relationship must be expected to be highly effective on a prospective basis and it needs to be demonstrated that it was also highly effective in the previous designated period (i.e., three 80% 125%. The Bank has only fair value hedges outstanding. In a fair value hedge, the change in the fair value of the hedging derivative is recognized in non-interest income in the Consolidated Statements of Income and Comprehensive Income. The change in the fair value of the hedged item attributable to hedge risk is recorded as part of the carrying value of the hedged item (basis adjustment) and is also recognized in non-interest income in the Consolidated Statements of Income and Comprehensive Income. The Bank utilizes fair value hedges primarily to convert fixed rate financial assets to floating rate financial assets. The primary financial instruments designated in fair value hedging relationships are loans. If the derivative expires or is sold, terminated, no In fair value hedges, ineffectiveness arises to the extent that the change in fair value of the hedging items differs from the change in fair value of the hedge risk in the hedged item. Any hedge ineffectiveness is measured and recorded in non-interest income in the Consolidated Statements of Income and Comprehensive Income. Derivative contracts which do not
Description of changes in accounting policy [text block]	o) Future accounting standard pronouncements: The following accounting standards amendments issued by the IASB will be effective for the Bank’s fiscal year beginning on November 1, 2024 ( 2025 i) Amendments to IFRS 16: September 2022, 16 not 16. ii) Amendments to IAS 1: January 2020 October 2022, 69 76 1 • What is meant by a right to defer settlement; • That a right to defer must exist at the end of the reporting period; • That classification is unaffected by the likelihood that an entity will exercise its deferral right; and, • That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not In addition, a requirement has been introduced to require disclosure when a liability arising from a loan agreement is classified as non-current and the entity’s right to defer settlement is contingent on compliance with future covenants within twelve The amendments noted above are not

Note 6 - Loans, Net of Allowa_2

Note 6 - Loans, Net of Allowance for Credit Losses (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Discosure of loans, net [text block]	(thousands of Canadian dollars) 2023 2022 Point-of-sale loans and leases $ 2,879,320 $ 2,220,894 Commercial real estate mortgages 889,069 710,369 Commercial real estate loans 8,793 13,165 Public sector and other financing 55,054 35,452 3,832,236 2,979,880 Allowance for credit losses (2,513 ) (1,904 ) Accrued interest 20,681 14,702 Total loans, net of allowance for credit losses $ 3,850,404 $ 2,992,678
Disclosure of loans by lending asset category [text block]	As at October 31, 2023 As at October 31, 2022 (thousands of Canadian dollars) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Point-of-sale loans and leases $ 2,873,078 $ 6,242 $ - $ 2,879,320 $ 2,215,388 $ 5,227 $ 279 $ 2,220,894 ECL allowance 100 - - 100 545 - - 545 EL % 0.00 % 0.00 % 0.00 % 0.00 % 0.02 % 0.00 % 0.00 % 0.02 % Commercial real estate mortgages $ 717,755 $ 155,993 $ 15,321 $ 889,069 $ 599,113 $ 111,256 $ - $ 710,369 ECL allowance 1,699 523 - 2,222 1,150 137 - 1,287 EL % 0.24 % 0.34 % 0.00 % 0.25 % 0.19 % 0.12 % 0.00 % 0.18 % Commercial real estate loans $ 8,793 $ - $ - $ 8,793 $ 13,165 $ - $ - $ 13,165 ECL allowance 42 - - 42 54 - - 54 EL % 0.48 % 0.00 % 0.00 % 0.48 % 0.41 % 0.00 % 0.00 % 0.41 % Public sector and other financing $ 49,293 $ 5,761 $ - $ 55,054 $ 35,273 $ 179 $ - $ 35,452 ECL allowance 104 45 - 149 17 1 - 18 EL % 0.21 % 0.78 % 0.00 % 0.27 % 0.05 % 0.56 % 0.00 % 0.05 % Total loans $ 3,648,919 $ 167,996 $ 15,321 $ 3,832,236 $ 2,862,939 $ 116,662 $ 279 $ 2,979,880 Total ECL allowance 1,945 568 - 2,513 1,766 138 - 1,904 Total EL % 0.05 % 0.34 % 0.00 % 0.07 % 0.06 % 0.12 % 0.00 % 0.06 %
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [text block]	(thousands of Canadian dollars) Reported 100% 100% 100% ECL Upside Baseline Downside Allowance for expected credit losses $ 2,513 $ 1,409 $ 1,939 $ 2,975 Variance from reported ECL (1,104 ) (575 ) 462 Variance from reported ECL (%) (44 %) (23 %) 18 %
Disclosure of Reconciliation of changes in allowance account for credit losses of financial assets [text block]	(thousands of Canadian dollars) Stage 1 Stage 2 Stage 3 Total Point-of-sale loans and leases Balance at beginning of period $ 545 $ - $ - $ 545 Transfer in (out) to Stage 1 160 (160 ) - - Transfer in (out) to Stage 2 (340 ) 340 - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance (265 ) (180 ) - (445 ) Loan originations - - - - Derecognitions and maturities - - - - Provision for (recovery of) credit losses (445 ) - - (445 ) Write-offs - - - - Recoveries - - - - Balance at end of period $ 100 $ - $ - $ 100 Commercial real estate mortgages Balance at beginning of period $ 1,150 $ 137 $ - $ 1,287 Transfer in (out) to Stage 1 279 (279 ) - - Transfer in (out) to Stage 2 (581 ) 581 - - Transfer in (out) to Stage 3 - (13 ) 13 - Net remeasurement of loss allowance 668 113 (13 ) 768 Loan originations 604 4 - 608 Derecognitions and maturities (421 ) (20 ) - (441 ) Provision for (recovery of) credit losses 549 386 - 935 Write-offs - - - - Recoveries - - - - Balance at end of period $ 1,699 $ 523 $ - $ 2,222 Commercial real estate loans Balance at beginning of period $ 54 $ - $ - $ 54 Transfer in (out) to Stage 1 - - - - Transfer in (out) to Stage 2 - - - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance (6 ) - - (6 ) Loan originations - - - - Derecognitions and maturities (6 ) - - (6 ) Provision for (recovery of) credit losses (12 ) - - (12 ) Write-offs - - - - Recoveries - - - - Balance at end of period $ 42 $ - $ - $ 42 Public sector and other financing Balance at beginning of period $ 17 $ 1 $ - $ 18 Transfer in (out) to Stage 1 - - - - Transfer in (out) to Stage 2 (8 ) 8 - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance 12 13 - 25 Loan originations 83 23 - 106 Derecognitions and maturities - - - - Provision for (recovery of) credit losses 87 44 - 131 Write-offs - - - - Recoveries - - - - Balance at end of period $ 104 $ 45 $ - $ 149 Total balance at end of period $ 1,945 $ 568 $ - $ 2,513 (thousands of Canadian dollars) Stage 1 Stage 2 Stage 3 Total Point-of-sale loans and leases Balance at beginning of period $ 275 $ - $ - $ 275 Transfer in (out) to Stage 1 91 (91 ) - - Transfer in (out) to Stage 2 (186 ) 186 - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance 365 (95 ) - 270 Loan originations - - - - Derecognitions and maturities - - - - Provision for (recovery of) credit losses 270 - - 270 Write-offs - - - - Recoveries - - - - Balance at end of period $ 545 $ - $ - $ 545 Commercial real estate mortgages Balance at beginning of period $ 980 $ 134 $ - $ 1,114 Transfer in (out) to Stage 1 75 (75 ) - - Transfer in (out) to Stage 2 (129 ) 129 - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance 74 (29 ) - 45 Loan originations 286 - - 286 Derecognitions and maturities (136 ) (22 ) - (158 ) Provision for (recovery of) credit losses 170 3 - 173 Write-offs - - - - Recoveries - - - - Balance at end of period $ 1,150 $ 137 $ - $ 1,287 Commercial real estate loans Balance at beginning of period $ 45 $ - $ - $ 45 Transfer in (out) to Stage 1 - - - - Transfer in (out) to Stage 2 - - - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance 9 - - 9 Loan originations - - - - Derecognitions and maturities - - - - Provision for (recovery of) credit losses 9 - - 9 Write-offs - - - - Recoveries - - - - Balance at end of period $ 54 $ - $ - $ 54 Public sector and other financing Balance at beginning of period $ 16 $ 3 $ - $ 19 Transfer in (out) to Stage 1 - - - - Transfer in (out) to Stage 2 - - - - Transfer in (out) to Stage 3 - - - - Net remeasurement of loss allowance 2 (2 ) - - Loan originations - - - - Derecognitions and maturities (1 ) - - (1 ) Provision for (recovery of) credit losses 1 (2 ) - (1 ) Write-offs - - - - Recoveries - - - - Balance at end of period $ 17 $ 1 $ - $ 18 Total balance at end of period $ 1,766 $ 138 $ - $ 1,904
Disclosure for maturity analysis of loans, net of allowance [text block]	(thousands of Canadian dollars) Within 3 months to 1 year to 2 years to Over 2023 2022 Floating 3 months 1 year 2 years 5 years 5 years Total Total Total loans $ 811,219 $ 101,786 $ 355,277 $ 224,579 $ 1,682,029 $ 657,346 $ 3,832,236 $ 2,979,880 Average effective yield 9.61 % 6.42 % 6.76 % 5.59 % 5.93 % 6.25 % 6.84 % 5.85 %

Note 7 - Property and Equipme_2

Note 7 - Property and Equipment (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of detailed information about property, plant and equipment [text block]	(thousands of Canadian dollars) 2023 2022 Cost $ 17,827 $ 17,465 Accumulated amortization (11,291 ) (10,597 ) $ 6,536 $ 6,868

Note 10 - Other Assets (Tables)

Note 10 - Other Assets (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of detailed information about other assets [text block]	(thousands of Canadian dollars) 2023 2022 Accounts receivable $ 3,858 $ 3,774 Prepaid expenses and other (note 10a) 22,130 16,391 Property and equipment (note 7) 6,536 6,868 Right-of-use assets (note 10b) 3,427 4,122 Deferred income tax asset (note 16) 4,058 2,128 Interest rate swap (note 18) 1,517 - Investment (note 10c) 953 953 Goodwill (note 8) 5,754 5,754 Intangible assets (note 9) 2,791 3,185 $ 51,024 $ 43,175

Note 11 - Deposits (Tables)

Note 11 - Deposits (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of detailed information about deposits from banks [text block]	(thousands of Canadian dollars) Maturity period Demand/ Within 3 months to 1 year to 2 years to Over Accrued 2023 2022 Floating 3 months 1 year 2 years 5 years 5 years Interest Total Total Total deposits $ 555,353 $ 403,000 $ 1,461,075 $ 433,205 $ 618,569 $ - $ 62,164 $ 3,533,366 $ 2,657,540 Average effective interest rate 3.94 % 3.93 % 4.66 % 3.71 % 4.17 % 4.18 % 2.74 %

Note 12 - Subordinated Notes _2

Note 12 - Subordinated Notes Payable (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of detailed information about borrowings [text block]	(thousands of Canadian dollars) 2023 2022 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 22), fixed effective interest rate of 10.41%, maturing March 2029. $ 4,919 $ 4,908 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. 101,931 100,043 $ 106,850 $ 104,951

Note 13 - Other Liabilities (Ta

Note 13 - Other Liabilities (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of detailed information about other liabilities [text block]	(thousands of Canadian dollars) 2023 2022 Accounts payable and other $ 9,681 $ 7,662 Current income tax liability 7,466 5,797 Deferred income tax liability (note 16) 731 786 Lease obligations 3,771 4,471 Cash collateral and amounts held in escrow (note 6) 8,818 8,006 Cash reserves on loan and lease receivables (note 6) 153,769 126,110 $ 184,236 $ 152,832

Note 14 - Share Capital (Tables

Note 14 - Share Capital (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of issued capital [text block]	(thousands of Canadian dollars) 2023 2022 Shares Amount Shares Amount Common shares: Balance, beginning of the year 27,245,782 $ 225,982 27,441,082 $ 227,674 Options exercised during the year 40,000 280 - - Purchased and cancelled during the year (1,321,358 ) (11,438 ) (195,300 ) (1,692 ) Outstanding, end of year 25,964,424 $ 214,824 27,245,782 $ 225,982 Series 1 preferred shares: Outstanding, beginning and end of year 1,461,460 $ 13,647 1,461,460 $ 13,647 Total share capital $ 228,471 $ 239,629

Note 15 - Stock-based Compens_2

Note 15 - Stock-based Compensation (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of number and weighted average exercise prices of share options [text block]	2023 2022 Weighted Weighted Number of average Number of average options exercise price options exercise price Outstanding, beginning of period 965,766 $ 15.53 40,000 $ 7.00 Granted 1,500 15.90 971,707 15.90 Exercised (40,000 ) 7.00 - - Forfeited/cancelled (52,873 ) 15.90 (45,941 ) 15.90 Expired - - - - Outstanding, end of period 874,393 $ 15.90 965,766 $ 15.53

Note 16 - Income Taxes (Tables)

Note 16 - Income Taxes (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of reconciliation of income tax expense [text block]	(thousands of Canadian dollars) 2023 2022 Income before income taxes $ 57,645 $ 32,548 Income tax rate 27 % 27 % Expected income tax provision 15,564 8,788 Tax rate differential (569 ) 172 Unrecognized deferred tax asset 136 411 Other permanent differences 352 519 Income taxes $ 15,483 $ 9,890
Disclosure of major components of income tax expense [text block]	(thousands of Canadian dollars) 2023 2022 Current income taxes $ 17,468 $ 9,199 Deferred income taxes (1,985 ) 691 Income taxes $ 15,483 $ 9,890
Disclosure of temporary difference, unused tax losses and unused tax credits [text block]	(thousands of Canadian dollars) Recognized November 1, in net October 31, 2022 income 2023 Allowance for credit losses $ 508 $ 158 $ 666 Loss carry forwards - 1,625 1,625 Share issue and financing costs 909 (463 ) 446 Deposit commissions (1,227 ) (596 ) (1,823 ) Intangibles assets (786 ) 188 (598 ) Deferred loan fees 658 160 818 Other 1,280 913 2,193 Net deferred income tax assets $ 1,342 $ 1,985 $ 3,327 (thousands of Canadian dollars) Recognized November 1, in net October 31, 2021 income 2022 Allowance for credit losses $ 388 $ 120 $ 508 Loss carry forwards 338 (338 ) - Share issue and financing costs 1,373 (464 ) 909 Deposit commissions (981 ) (246 ) (1,227 ) Intangibles assets (898 ) 112 (786 ) Deferred loan fees 757 (99 ) 658 Other 1,056 224 1,280 Net deferred income tax assets $ 2,033 $ (691 ) $ 1,342 (thousands of Canadian dollars) 2023 2022 Deferred tax assets $ 4,058 $ 2,128 Deferred tax liabilities (731 ) (786 ) Net deferred income tax assets $ 3,327 $ 1,342

Note 17 - Per Share Amounts (Ta

Note 17 - Per Share Amounts (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Earnings per share [text block]	(thousands of Canadian dollars) 2023 2022 Net income $ 42,162 $ 22,658 Preferred share dividends paid (988 ) (988 ) Net income available to common shareholders 41,174 21,670 Weighted average number of common shares outstanding 26,273,739 27,425,479 Basic and diluted income per common share: $ 1.57 $ 0.79

Note 19 - Nature and Extent o_2

Note 19 - Nature and Extent of Risks Arising from Financial Instruments (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Sensitivity analysis for types of market risk [text block]	(thousands of Canadian dollars) 2023 2022 Increase 100 bps Decrease 100 bps Increase 100 bps Decrease 100 bps Increase (decrease): Impact of projected net interest income during a 12 month period $ 4,046 $ (4,059 ) $ 4,304 $ (4,261 ) Duration difference between assets and liabilities (months) (2.0 ) 1.4

Note 20 - Interest Rate Risk _2

Note 20 - Interest Rate Risk and Liquidity Risk (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of financial instruments by type of interest rate [text block]	(thousands of Canadian dollars) Floating Within 3 months to 1 year to 2 years to Over Non-interest rate 3 months 1 year 2 years 5 years 5 years rate sensitive Total Assets Cash $ 132,242 $ - $ - $ - $ - $ - $ 132,242 Effective rate 4.90 % Securities - 164,930 - 3,010 - - - 167,940 Effective rate 4.72 % 4.76 % Loans 811,219 101,786 355,277 224,579 1,682,029 657,346 18,168 3,850,404 Effective rate 9.61 % 6.42 % 6.76 % 5.59 % 5.93 % 6.25 % Other - - - - - - 51,024 51,024 Effective rate Total Assets $ 943,461 $ 266,716 $ 355,277 $ 227,589 $ 1,682,029 $ 657,346 $ 69,192 $ 4,201,610 Liabilities Deposits $ 555,353 $ 403,000 $ 1,461,075 $ 433,205 $ 618,569 $ - $ 62,164 $ 3,533,366 Effective rate 3.94 % 3.93 % 4.66 % 3.71 % 4.17 % Subordinated notes - - - - - 106,850 - 106,850 Effective rate 5.61 % Other 162,587 - - - - - 21,649 184,236 Effective rate 4.05 % Equity - - - 13,647 - - 363,511 377,158 Effective rate 6.77 % Total liabilities and equity $ 717,940 $ 403,000 $ 1,461,075 $ 446,852 $ 618,569 $ 106,850 $ 447,324 $ 4,201,610 Interest rate swap $ 20,785 $ - $ - $ - $ - $ (20,785 ) $ - $ - October 31, 2023 gap $ 246,306 $ (136,284 ) $ (1,105,798 ) $ (219,263 ) $ 1,063,460 $ 529,711 $ (378,132 ) $ - Cumulative $ 246,306 $ 110,022 $ (995,776 ) $ (1,215,039 ) $ (151,579 ) $ 378,132 $ - $ - October 31, 2022 gap $ 116,936 $ (47,087 ) $ (383,153 ) $ (291,346 ) $ 623,906 $ 307,416 $ (326,672 ) $ - Cumulative $ 116,936 $ 69,849 $ (313,304 ) $ (604,650 ) $ 19,256 $ 326,672 $ - $ -

Note 21 - Fair Value of Finan_2

Note 21 - Fair Value of Financial Instruments (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of detailed information about financial instruments [text block]	(thousands of Canadian dollars) 2023 2022 Carrying Value Fair value Level 1 Fair Value Level 2 Fair Value Level 3 Total Fair Value Carrying Value Total Fair Value Assets Cash $ 132,242 $ 132,242 $ - $ - $ 132,242 $ 88,581 $ 88,581 Securities 167,940 167,940 - - 167,940 141,564 141,564 Loans 3,850,404 - - 3,837,599 3,837,599 2,992,678 2,963,676 Derivatives 1,517 - 1,517 - 1,517 - - Other financial assets 953 - - 953 953 953 953 Liabilities Deposits $ 3,533,366 $ - $ - $ 3,436,491 $ 3,436,491 $ 2,657,540 $ 2,561,421 Subordinated notes payable 106,850 - 109,033 - 109,033 104,951 107,368 Other financial liabilities 176,039 - - 176,039 176,039 146,249 146,249

Note 23 - Commitments and Con_2

Note 23 - Commitments and Contingencies (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of commitments [text block]	(thousands of Canadian dollars) 2023 2022 Loan commitments $ 405,426 $ 382,851 Letters of credit 75,963 60,273 $ 481,389 $ 443,124

Note 24 - Capital Management (T

Note 24 - Capital Management (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of regulatory capital and capital ratios [text block]	(thousands of Canadian dollars) 2023 2022 Common Equity Tier 1 (CET1) capital Directly issued qualifying common share capital $ 214,824 $ 225,982 Contributed surplus 2,513 1,612 Retained earnings 146,043 109,335 Accumulated other comprehensive income 131 99 CET1 before regulatory adjustments 363,511 337,028 Regulatory adjustments applied to CET1 (12,699 ) (11,371 ) Common Equity Tier 1 capital $ 350,812 $ 325,657 Additional Tier 1 capital Directly issued qualifying Additional Tier 1 instruments $ 13,647 $ 13,647 Total Tier 1 capital $ 364,459 $ 339,304 Tier 2 capital Directly issued Tier 2 capital instruments $ 109,033 $ 107,367 Tier 2 capital before regulatory adjustments 109,033 107,367 Eligible stage 1 and stage 2 allowance 2,513 1,904 Total Tier 2 capital $ 111,546 $ 109,271 Total regulatory capital $ 476,005 $ 448,575 Total risk-weighted assets $ 3,095,092 $ 2,714,902 Capital ratios CET1 capital ratio 11.33 % 12.00 % Tier 1 capital ratio 11.78 % 12.50 % Total capital ratio 15.38 % 16.52 % (thousands of Canadian dollars) 2023 2022 On-balance sheet assets $ 4,201,610 $ 3,265,998 Asset amounts adjusted in determining the Basel III Tier 1 capital (12,699 ) (11,371 ) Total on-balance sheet exposures 4,188,911 3,254,627 Total off-balance sheet exposure at gross notional amount $ 481,389 $ 443,124 Adjustments for conversion to credit equivalent amount (281,705 ) (251,101 ) Total off-balance sheet exposures 199,684 192,023 Tier 1 capital 364,459 339,304 Total exposures 4,388,595 3,446,650 Leverage ratio 8.30 % 9.84 %

Note 25 - Operating Segments (T

Note 25 - Operating Segments (Tables)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Disclosure of operating segments [text block]	(thousands of Canadian dollars) for the year ended October 31, 2023 October 31, 2022 Digital DRTC Eliminations/ Consolidated Digital DRTC Eliminations/ Consolidated Banking Adjustments Banking Adjustments Net interest income $ 100,051 $ - $ - $ 100,051 $ 76,666 $ - $ - $ 76,666 Non-interest income 540 9,698 (1,654 ) 8,584 52 5,839 (165 ) 5,726 Total revenue 100,591 9,698 (1,654 ) 108,635 76,718 5,839 (165 ) 82,392 Provision for (recovery of) credit losses 609 - - 609 451 - - 451 99,982 9,698 (1,654 ) 108,026 76,267 5,839 (165 ) 81,941 Non-interest expenses: Salaries and benefits 25,382 6,046 - 31,428 22,303 4,493 - 26,796 General and administrative 15,140 1,565 (1,654 ) 15,051 17,614 1,283 (165 ) 18,732 Premises and equipment 2,462 1,440 - 3,902 2,475 1,390 - 3,865 42,984 9,051 (1,654 ) 50,381 42,392 7,166 (165 ) 49,393 Income (loss) before income taxes 56,998 647 - 57,645 33,875 (1,327 ) - 32,548 Income tax provision 15,867 (384 ) - 15,483 9,744 146 - 9,890 Net income (loss) $ 41,131 $ 1,031 $ - $ 42,162 $ 24,131 $ (1,473 ) $ - $ 22,658 Total assets $ 4,190,876 $ 26,443 $ (15,709 ) $ 4,201,610 $ 3,267,479 $ 22,345 $ (23,826 ) $ 3,265,998 Total liabilities $ 3,818,412 $ 28,788 $ (22,748 ) $ 3,824,452 $ 2,912,249 $ 25,755 $ (22,681 ) $ 2,915,323

Note 3 - Significant Accounti_2

Note 3 - Significant Accounting Policies (Details Textual)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Number of segments	2
Bottom of range [member]
Statement Line Items [Line Items]
Useful life measured as period of time, property, plant and equipment (Year)	5 years
Top of range [member]
Statement Line Items [Line Items]
Useful life measured as period of time, property, plant and equipment (Year)	20 years
DRT Cyber Inc.[member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100%
The 11409891 Canada Inc. [member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100%
VersaJet Inc. [member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100%

Note 5 - Securities (Details Te

Note 5 - Securities (Details Textual) - CAD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Investments in Securities	$ 167,940	$ 141,564
Government of Canada Treasury Bills and a U.S. Government Treasury Bill [member]
Statement Line Items [Line Items]
Investments in Securities	167,900	$ 141,600
Zero-coupon Bank of Canada treasury bills [member]
Statement Line Items [Line Items]
Cash payment to acquire securities	134,800
Notional amount	$ 135,000
Financial assets, interest rate	4.93%
Government of Canada Bond [Member]
Statement Line Items [Line Items]
Cash payment to acquire securities	$ 32,900
Notional amount	$ 33,000
Financial assets, interest rate	3.87%
Government of Canada Bond Maturing November 2023 [Member]
Statement Line Items [Line Items]
Notional amount	$ 30,000
Government of Canada Bond Maturing May 2025 [Member]
Statement Line Items [Line Items]
Notional amount	$ 2,900

Note 6 - Loans, Net of Allowa_3

Note 6 - Loans, Net of Allowance for Credit Losses (Details Textual) - Loans [member] - CAD ($)	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Total financial assets	$ 3,850,404,000	$ 2,992,678,000
Financial assets that are individually determined to be impaired, fair value of collateral held and other credit enhancements	20,000,000
Financial assets impaired [member]
Statement Line Items [Line Items]
Total financial assets	$ 15,300,000	$ 279,000

Note 6 - Loans, Net of Allowa_4

Note 6 - Loans, Net of Allowance for Credit Losses - Portfolio Analysis (Details) - Loans [member] - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Statement Line Items [Line Items]
Loans, gross	$ 3,832,236	$ 2,979,880
Allowance for credit losses	(2,513)	(1,904)
Accrued interest	20,681	14,702
Total loans, net of allowance for credit losses	3,850,404	2,992,678
Point of sale loans and leases [member]
Statement Line Items [Line Items]
Loans, gross	2,879,320	2,220,894
Allowance for credit losses	(100)	(545)	$ (275)
Commercial real estate mortgages [member]
Statement Line Items [Line Items]
Loans, gross	889,069	710,369
Allowance for credit losses	(2,222)	(1,287)	(1,114)
Commercial real estate loans [member]
Statement Line Items [Line Items]
Loans, gross	8,793	13,165
Allowance for credit losses	(42)	(54)	(45)
Public sector and other financing [member]
Statement Line Items [Line Items]
Loans, gross	55,054	35,452
Allowance for credit losses	$ (149)	$ (18)	$ (19)

Note 6 - Loans, Net of Allowa_5

Note 6 - Loans, Net of Allowance for Credit Losses - Summary of Loan, ECL, and EL Amounts by Lending Asset Category (Details) - Loans [member] - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Statement Line Items [Line Items]
Notional amount	$ 3,832,236	$ 2,979,880
ECL allowance	$ 2,513	$ 1,904
EL %	0.07%	0.06%
Stage 1 [member]
Statement Line Items [Line Items]
Notional amount	$ 3,648,919	$ 2,862,939
ECL allowance	$ 1,945	$ 1,766
EL %	0.05%	0.06%
Stage 2 [member]
Statement Line Items [Line Items]
Notional amount	$ 167,996	$ 116,662
ECL allowance	$ 568	$ 138
EL %	0.34%	0.12%
Financial instruments credit-impaired [member]
Statement Line Items [Line Items]
Notional amount	$ 15,321	$ 279
ECL allowance	$ 0	$ 0
EL %	0%	0%
Point of sale loans and leases [member]
Statement Line Items [Line Items]
Notional amount	$ 2,879,320	$ 2,220,894
ECL allowance	$ 100	$ 545	$ 275
EL %	0%	0.02%
Point of sale loans and leases [member] | Stage 1 [member]
Statement Line Items [Line Items]
Notional amount	$ 2,873,078	$ 2,215,388
ECL allowance	$ 100	$ 545	275
EL %	0%	0.02%
Point of sale loans and leases [member] | Stage 2 [member]
Statement Line Items [Line Items]
Notional amount	$ 6,242	$ 5,227
ECL allowance	$ 0	$ 0	0
EL %	0%	0%
Point of sale loans and leases [member] | Financial instruments credit-impaired [member]
Statement Line Items [Line Items]
Notional amount	$ 0	$ 279
ECL allowance	$ 0	$ 0	0
EL %	0%	0%
Commercial real estate mortgages [member]
Statement Line Items [Line Items]
Notional amount	$ 889,069	$ 710,369
ECL allowance	$ 2,222	$ 1,287	1,114
EL %	0.25%	0.18%
Commercial real estate mortgages [member] | Stage 1 [member]
Statement Line Items [Line Items]
Notional amount	$ 717,755	$ 599,113
ECL allowance	$ 1,699	$ 1,150	980
EL %	0.24%	0.19%
Commercial real estate mortgages [member] | Stage 2 [member]
Statement Line Items [Line Items]
Notional amount	$ 155,993	$ 111,256
ECL allowance	$ 523	$ 137	134
EL %	0.34%	0.12%
Commercial real estate mortgages [member] | Financial instruments credit-impaired [member]
Statement Line Items [Line Items]
Notional amount	$ 15,321	$ 0
ECL allowance	$ 0	$ 0	0
EL %	0%	0%
Commercial real estate loans [member]
Statement Line Items [Line Items]
Notional amount	$ 8,793	$ 13,165
ECL allowance	$ 42	$ 54	45
EL %	0.48%	0.41%
Commercial real estate loans [member] | Stage 1 [member]
Statement Line Items [Line Items]
Notional amount	$ 8,793	$ 13,165
ECL allowance	$ 42	$ 54	45
EL %	0.48%	0.41%
Commercial real estate loans [member] | Stage 2 [member]
Statement Line Items [Line Items]
Notional amount	$ 0	$ 0
ECL allowance	$ 0	$ 0	0
EL %	0%	0%
Commercial real estate loans [member] | Financial instruments credit-impaired [member]
Statement Line Items [Line Items]
Notional amount	$ 0	$ 0
ECL allowance	$ 0	$ 0	0
EL %	0%	0%
Public sector and other financing [member]
Statement Line Items [Line Items]
Notional amount	$ 55,054	$ 35,452
ECL allowance	$ 149	$ 18	19
EL %	0.27%	0.05%
Public sector and other financing [member] | Stage 1 [member]
Statement Line Items [Line Items]
Notional amount	$ 49,293	$ 35,273
ECL allowance	$ 104	$ 17	16
EL %	0.21%	0.05%
Public sector and other financing [member] | Stage 2 [member]
Statement Line Items [Line Items]
Notional amount	$ 5,761	$ 179
ECL allowance	$ 45	$ 1	3
EL %	0.78%	0.56%
Public sector and other financing [member] | Financial instruments credit-impaired [member]
Statement Line Items [Line Items]
Notional amount	$ 0	$ 0
ECL allowance	$ 0	$ 0	$ 0
EL %	0%	0%

Note 6 - Loans, Net of Allowa_6

Note 6 - Loans, Net of Allowance for Credit Losses - Expected Credit Loss Sensitivity (Details) - Loans [member] - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Allowance for expected credit losses	$ 2,513	$ 1,904
Upside, 100% [member]
Statement Line Items [Line Items]
Allowance for expected credit losses	1,409
Variance from reported ECL	$ (1,104)
Variance from reported ECL (%)	(44.00%)
Baseline, 100% [member]
Statement Line Items [Line Items]
Allowance for expected credit losses	$ 1,939
Variance from reported ECL	$ (575)
Variance from reported ECL (%)	(23.00%)
Downside, 100% [member]
Statement Line Items [Line Items]
Allowance for expected credit losses	$ 2,975
Variance from reported ECL	$ 462
Variance from reported ECL (%)	18%

Note 6 - Loans, Net of Allowa_7

Note 6 - Loans, Net of Allowance for Credit Losses - Reconciliation of ECL Allowance by Lending Asset Category (Details) - CAD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Provision for (recovery of) credit losses	$ 609	$ 451
Loans [member]
Statement Line Items [Line Items]
Balance at beginning of period	1,904
Recoveries	0	0
Balance at end of period	2,513	1,904
Loans [member] | Stage 1 [member]
Statement Line Items [Line Items]
Balance at beginning of period	1,766
Net remeasurement of loss allowance	(265)	365
Recoveries	0	0
Balance at end of period	1,945	1,766
Loans [member] | Stage 2 [member]
Statement Line Items [Line Items]
Balance at beginning of period	138
Net remeasurement of loss allowance	(180)	(95)
Recoveries	0	0
Balance at end of period	568	138
Loans [member] | Financial instruments credit-impaired [member]
Statement Line Items [Line Items]
Balance at beginning of period	0
Net remeasurement of loss allowance	0	0
Recoveries	0	0
Balance at end of period	0	0
Loans [member] | Point of sale loans and leases [member]
Statement Line Items [Line Items]
Balance at beginning of period	545	275
Transfer in (out) to Stage 1	0	0
Transfer in (out) to Stage 2	0	0
Transfer in (out) to Stage 3	0	0
Net remeasurement of loss allowance	(445)	270
Loan originations	0	0
Derecognitions and maturities	0	0
Provision for (recovery of) credit losses	(445)	270
Write-offs	0	0
Recoveries	0	0
Balance at end of period	100	545
Loans [member] | Point of sale loans and leases [member] | Stage 1 [member]
Statement Line Items [Line Items]
Balance at beginning of period	545	275
Transfer in (out) to Stage 1	160	91
Transfer in (out) to Stage 2	(340)	(186)
Transfer in (out) to Stage 3	0	0
Loan originations	0	0
Derecognitions and maturities	0	0
Provision for (recovery of) credit losses	(445)	270
Write-offs	0	0
Recoveries	0	0
Balance at end of period	100	545
Loans [member] | Point of sale loans and leases [member] | Stage 2 [member]
Statement Line Items [Line Items]
Balance at beginning of period	0	0
Transfer in (out) to Stage 1	(160)	(91)
Transfer in (out) to Stage 2	340	186
Transfer in (out) to Stage 3	0	0
Loan originations	0	0
Derecognitions and maturities	0	0
Provision for (recovery of) credit losses	0	0
Write-offs	0	0
Recoveries	0	0
Balance at end of period	0	0
Loans [member] | Point of sale loans and leases [member] | Financial instruments credit-impaired [member]
Statement Line Items [Line Items]
Balance at beginning of period	0	0
Transfer in (out) to Stage 1	0	0
Transfer in (out) to Stage 2	0	0
Transfer in (out) to Stage 3	0	0
Loan originations	0	0
Derecognitions and maturities	0	0
Provision for (recovery of) credit losses	0	0
Write-offs	0	0
Recoveries	0	0
Balance at end of period	0	0
Loans [member] | Commercial real estate mortgages [member]
Statement Line Items [Line Items]
Balance at beginning of period	1,287	1,114
Transfer in (out) to Stage 1	0	0
Transfer in (out) to Stage 2	0	0
Transfer in (out) to Stage 3	0	0
Net remeasurement of loss allowance	768	45
Loan originations	608	286
Derecognitions and maturities	(441)	(158)
Provision for (recovery of) credit losses	935	173
Write-offs	0	0
Recoveries	0	0
Balance at end of period	2,222	1,287
Loans [member] | Commercial real estate mortgages [member] | Stage 1 [member]
Statement Line Items [Line Items]
Balance at beginning of period	1,150	980
Transfer in (out) to Stage 1	279	75
Transfer in (out) to Stage 2	(581)	(129)
Transfer in (out) to Stage 3	0	0
Net remeasurement of loss allowance	668	74
Loan originations	604	286
Derecognitions and maturities	(421)	(136)
Provision for (recovery of) credit losses	549	170
Write-offs	0	0
Recoveries	0	0
Balance at end of period	1,699	1,150
Loans [member] | Commercial real estate mortgages [member] | Stage 2 [member]
Statement Line Items [Line Items]
Balance at beginning of period	137	134
Transfer in (out) to Stage 1	(279)	(75)
Transfer in (out) to Stage 2	581	129
Transfer in (out) to Stage 3	(13)	0
Net remeasurement of loss allowance	113	(29)
Loan originations	4	0
Derecognitions and maturities	(20)	(22)
Provision for (recovery of) credit losses	386	3
Write-offs	0	0
Recoveries	0	0
Balance at end of period	523	137
Loans [member] | Commercial real estate mortgages [member] | Financial instruments credit-impaired [member]
Statement Line Items [Line Items]
Balance at beginning of period	0	0
Transfer in (out) to Stage 1	0	0
Transfer in (out) to Stage 2	0	0
Transfer in (out) to Stage 3	13	0
Net remeasurement of loss allowance	(13)	0
Loan originations	0	0
Derecognitions and maturities	0	0
Provision for (recovery of) credit losses	0	0
Write-offs	0	0
Recoveries	0	0
Balance at end of period	0	0
Loans [member] | Commercial real estate loans [member]
Statement Line Items [Line Items]
Balance at beginning of period	54	45
Transfer in (out) to Stage 1	0	0
Transfer in (out) to Stage 2	0	0
Transfer in (out) to Stage 3	0	0
Net remeasurement of loss allowance	(6)	9
Loan originations	0	0
Derecognitions and maturities	(6)	0
Provision for (recovery of) credit losses	(12)	9
Write-offs	0	0
Recoveries	0	0
Balance at end of period	42	54
Loans [member] | Commercial real estate loans [member] | Stage 1 [member]
Statement Line Items [Line Items]
Balance at beginning of period	54	45
Transfer in (out) to Stage 1	0	0
Transfer in (out) to Stage 2	0	0
Transfer in (out) to Stage 3	0	0
Net remeasurement of loss allowance	(6)	9
Loan originations	0	0
Derecognitions and maturities	(6)	0
Provision for (recovery of) credit losses	(12)	9
Write-offs	0	0
Recoveries	0	0
Balance at end of period	42	54
Loans [member] | Commercial real estate loans [member] | Stage 2 [member]
Statement Line Items [Line Items]
Balance at beginning of period	0	0
Transfer in (out) to Stage 1	0	0
Transfer in (out) to Stage 2	0	0
Transfer in (out) to Stage 3	0	0
Net remeasurement of loss allowance	0	0
Loan originations	0	0
Derecognitions and maturities	0	0
Provision for (recovery of) credit losses	0	0
Write-offs	0	0
Recoveries	0	0
Balance at end of period	0	0
Loans [member] | Commercial real estate loans [member] | Financial instruments credit-impaired [member]
Statement Line Items [Line Items]
Balance at beginning of period	0	0
Transfer in (out) to Stage 1	0	0
Transfer in (out) to Stage 2	0	0
Transfer in (out) to Stage 3	0	0
Net remeasurement of loss allowance	0	0
Loan originations	0	0
Derecognitions and maturities	0	0
Provision for (recovery of) credit losses	0	0
Write-offs	0	0
Recoveries	0	0
Balance at end of period	0	0
Loans [member] | Public sector and other financing [member]
Statement Line Items [Line Items]
Balance at beginning of period	18	19
Transfer in (out) to Stage 1	0	0
Transfer in (out) to Stage 2	0	0
Transfer in (out) to Stage 3	0	0
Net remeasurement of loss allowance	25	0
Loan originations	106	0
Derecognitions and maturities	0	(1)
Provision for (recovery of) credit losses	131	(1)
Write-offs	0	0
Balance at end of period	149	18
Loans [member] | Public sector and other financing [member] | Stage 1 [member]
Statement Line Items [Line Items]
Balance at beginning of period	17	16
Transfer in (out) to Stage 1	0	0
Transfer in (out) to Stage 2	(8)	0
Transfer in (out) to Stage 3	0	0
Net remeasurement of loss allowance	12	2
Loan originations	83	0
Derecognitions and maturities	0	(1)
Provision for (recovery of) credit losses	87	1
Write-offs	0	0
Balance at end of period	104	17
Loans [member] | Public sector and other financing [member] | Stage 2 [member]
Statement Line Items [Line Items]
Balance at beginning of period	1	3
Transfer in (out) to Stage 1	0	0
Transfer in (out) to Stage 2	8	0
Transfer in (out) to Stage 3	0	0
Net remeasurement of loss allowance	13	(2)
Loan originations	23	0
Derecognitions and maturities	0	0
Provision for (recovery of) credit losses	44	(2)
Write-offs	0	0
Balance at end of period	45	1
Loans [member] | Public sector and other financing [member] | Financial instruments credit-impaired [member]
Statement Line Items [Line Items]
Balance at beginning of period	0	0
Transfer in (out) to Stage 1	0	0
Transfer in (out) to Stage 2	0	0
Transfer in (out) to Stage 3	0	0
Net remeasurement of loss allowance	0	0
Loan originations	0	0
Derecognitions and maturities	0	0
Provision for (recovery of) credit losses	0	0
Write-offs	0	0
Balance at end of period	$ 0	$ 0

Note 6 - Loans, Net of Allowa_8

Note 6 - Loans, Net of Allowance for Credit Losses - Maturities and Yields (Details) - Loans [member] - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Total loans	$ 3,832,236	$ 2,979,880
Average effective yield	6.84%	5.85%
Not later than three months [member]
Statement Line Items [Line Items]
Total loans	$ 101,786
Average effective yield	6.42%
Later than three months and not later than one year [member]
Statement Line Items [Line Items]
Total loans	$ 355,277
Average effective yield	6.76%
Later than one year and not later than two years [member]
Statement Line Items [Line Items]
Total loans	$ 224,579
Average effective yield	5.59%
Later than two year and not later than five years [member]
Statement Line Items [Line Items]
Total loans	$ 1,682,029
Average effective yield	5.93%
Later than five years [member]
Statement Line Items [Line Items]
Total loans	$ 657,346
Average effective yield	6.25%
Floating interest rate [member]
Statement Line Items [Line Items]
Total loans	$ 811,219
Average effective yield	9.61%

Note 7 - Property and Equipme_3

Note 7 - Property and Equipment (Details Textual) - CAD ($)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Property, plant and equipment, restrictions on title	$ 0
Depreciation, property, plant and equipment	$ 694,000	$ 788,000

Note 7 - Property and Equipme_4

Note 7 - Property and Equipment - Discloser of detailed information (Details) - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Property and equipment	$ 6,536	$ 6,868
Gross carrying amount [member]
Statement Line Items [Line Items]
Property and equipment	17,827	17,465
Accumulated depreciation and amortisation [member]
Statement Line Items [Line Items]
Property and equipment	$ (11,291)	$ (10,597)

Note 8 - Goodwill (Details Text

Note 8 - Goodwill (Details Textual) - Goodwill [member]	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Growth rate decrease used to signify impairment	6%
Discount rate, measurement input [member]
Statement Line Items [Line Items]
Significant unobservable input, assets	0.137	0.124
Average yearly earnings growth rate [member]
Statement Line Items [Line Items]
Significant unobservable input, assets	0.14	0.12
Terminal growth rate [member]
Statement Line Items [Line Items]
Significant unobservable input, assets	0.02	0.02

Note 9 - Intangible Assets (Det

Note 9 - Intangible Assets (Details Textual) - CAD ($)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Total intangible assets other than goodwill	$ 2,791,000	$ 3,185,000
Useful life measured as period of time, intangible assets other than goodwill (Year)	10 years
Amortisation, intangible assets other than goodwill	$ 394,000	456,000
Value of business acquired [member]
Statement Line Items [Line Items]
Total intangible assets other than goodwill	2,800,000	$ 3,200,000
Intangible assets other than goodwill, gross	3,900,000
Intangible assets other than goodwill, accumulated amortisation	$ 1,100,000

Note 10 - Other Assets (Details

Note 10 - Other Assets (Details Textual)	2 Months Ended	12 Months Ended
	Feb. 28, 2021	Oct. 31, 2023 CAD ($)	Oct. 31, 2022 CAD ($)
Statement Line Items [Line Items]
Capitilised development costs		$ 8,100,000	$ 6,200,000
Impairment loss recognised in profit or loss, intangible assets other than goodwill		0
Right-of-use assets		3,427,000	4,122,000
Right of use Assets, Accumulated Amortisation		$ 2,500,000
Canada Stablecorp Inc.[member]
Statement Line Items [Line Items]
Proportion of ownership interest in associate	11%
Intangible assets under development [member] | Average yearly earnings growth rate [member]
Statement Line Items [Line Items]
Significant unobservable input, assets		22
Intangible assets under development [member] | Terminal growth rate [member]
Statement Line Items [Line Items]
Significant unobservable input, assets		1
Intangible assets under development [member] | Period of projected cash flow [member]
Statement Line Items [Line Items]
Significant unobservable input, assets		10
Intangible assets under development [member] | Discount rate, measurement input [member]
Statement Line Items [Line Items]
Significant unobservable input, assets		13.8
Right-of-use assets [member]
Statement Line Items [Line Items]
Amortisation expense		$ 695,000	$ 695,000

Note 10 - Other Assets - Schedu

Note 10 - Other Assets - Schedule of Other Assets (Details) - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Accounts receivable	$ 3,858	$ 3,774
Prepaid expenses and other (note 10a)	22,130	16,391
Property and equipment (note 7)	6,536	6,868
Right-of-use assets (note 10b)	3,427	4,122
Deferred income tax asset (note 16)	4,058	2,128
Interest rate swap (note 18)	1,517	0
Investment (note 10c)	953	953
Goodwill (note 8)	5,754	5,754
Intangible assets (note 9)	2,791	3,185
Other assets	$ 51,024	$ 43,175

Note 11 - Deposits - Schedule o

Note 11 - Deposits - Schedule of Deposits (Details) - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Deposits (note 11)	$ 3,533,366	$ 2,657,540
Total deposits, accrued interest	$ 62,164
Average effective interest rate	4.18%	2.74%
Floating interest rate [member]
Statement Line Items [Line Items]
Deposits (note 11)	$ 555,353
Average effective interest rate	3.94%
Fixed interest rate [member] | Not later than three months [member]
Statement Line Items [Line Items]
Deposits (note 11)	$ 403,000
Average effective interest rate	3.93%
Fixed interest rate [member] | Later than three months and not later than one year [member]
Statement Line Items [Line Items]
Deposits (note 11)	$ 1,461,075
Average effective interest rate	4.66%
Fixed interest rate [member] | Later than one year and not later than two years [member]
Statement Line Items [Line Items]
Deposits (note 11)	$ 433,205
Average effective interest rate	3.71%
Fixed interest rate [member] | Later than two years and not later than five years [member]
Statement Line Items [Line Items]
Deposits (note 11)	$ 618,569
Average effective interest rate	4.17%
Fixed interest rate [member] | Later than five years [member]
Statement Line Items [Line Items]
Deposits (note 11)	$ 0

Note 12 - Subordinated Notes _3

Note 12 - Subordinated Notes Payable - Schedule of Subordinated Notes Payable (Details) - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Subordinated notes payable, maturing March 2029 [member]
Statement Line Items [Line Items]
Subordinated notes payable	$ 4,919	$ 4,908
Subordinated notes payable, maturing May 2031 [member]
Statement Line Items [Line Items]
Subordinated notes payable	101,931	100,043
Subordinated notes payable [member]
Statement Line Items [Line Items]
Subordinated notes payable	$ 106,850	$ 104,951

Note 13 - Other Liabilities (De

Note 13 - Other Liabilities (Details Textual) - CAD ($)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Cash outflow for leases	$ 1,100,000
Total lease liabilities	3,771,000	$ 4,471,000
Not later than one year [member]
Statement Line Items [Line Items]
Total lease liabilities	735,000
Later than one year and not later than five years [member]
Statement Line Items [Line Items]
Total lease liabilities	2,400,000
Later than five years [member]
Statement Line Items [Line Items]
Total lease liabilities	$ 662,000
Bottom of range [member]
Statement Line Items [Line Items]
Lease liabilities, period for payment adjustments (Year)	3 years
Top of range [member]
Statement Line Items [Line Items]
Lease liabilities, period for payment adjustments (Year)	5 years

Note 13 - Other Liabilities - S

Note 13 - Other Liabilities - Schedule of Other Liabilities (Details) - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Accounts payable and other	$ 9,681	$ 7,662
Current income tax liability	7,466	5,797
Deferred income tax liability (note 16)	731	786
Lease obligations	3,771	4,471
Cash collateral and amounts held in escrow (note 6)	8,818	8,006
Cash reserves on loan and lease receivables (note 6)	153,769	126,110
Other liabilities	$ 184,236	$ 152,832

Note 14 - Share Capital (Detail

Note 14 - Share Capital (Details Textual) - CAD ($)		12 Months Ended
	Aug. 05, 2022	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Number of shares issued for offering (in shares)	1,700,000
Shares purchased and cancelled during period (in shares)		1,321,358	195,300
Reduction of issued capital		$ 13,300,000	$ 1,900,000
Shares issued from stock option exercises (in shares)		40,000
Increase (decrease) through exercise of options, equity		$ 280,000
Dividends paid		$ 3,600,000	3,729,000
Dividends paid, ordinary shares per share (in CAD per share)		$ 0.1
Retained earnings [member]
Statement Line Items [Line Items]
Reduction of issued capital		$ 1,900,000	$ 238,000
Ordinary shares [member]
Statement Line Items [Line Items]
Par value per share (in CAD per share)		$ 0
Dividends paid		$ 2,600,000
Floor price per share (in CAD per share)		$ 0.75
Ordinary shares [member] | Issued capital [member]
Statement Line Items [Line Items]
Shares purchased and cancelled during period (in shares)		1,321,358	195,300
Reduction of issued capital		$ 11,438,000	$ 1,692,000
Shares issued from stock option exercises (in shares)		40,000	0
Increase (decrease) through exercise of options, equity		$ 280,000	$ 0
Series 1 preferred shares [member]
Statement Line Items [Line Items]
Par value per share (in CAD per share)		$ 10
Dividends paid		$ 988,000
Dividends paid, other shares per share (in CAD per share)		$ 0.6772
Dividend, annual yield		6.772%
Dividends rate, period for reset (Year)		5 years
Dividend rate, adjustment		5.43%
Preferred shares, period for mandatory redemption (Year)		5 years
Dividends paid, other shares		$ 0.68
Series 2 preferred shares [member]
Statement Line Items [Line Items]
Dividend rate, adjustment		5.43%
Series 1 and 2 preferred shares [member]
Statement Line Items [Line Items]
Preference shares, conversion price (in CAD per share)		$ 10

Note 14 - Share Capital - Issue

Note 14 - Share Capital - Issued and Outstanding Shares (Details) - CAD ($)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Balance	$ 350,675,000
Options exercised during the year (in shares)	40,000
Options exercised during the year	$ 280,000
Purchased and cancelled during the year (in shares)	(1,321,358)	(195,300)
Purchased and cancelled during the year	$ (13,300,000)	$ (1,900,000)
Balance	377,158,000	350,675,000
Outstanding, beginning and end of year	377,158,000	350,675,000
Issued capital [member]
Statement Line Items [Line Items]
Balance	239,629,000
Balance	228,471,000	239,629,000
Outstanding, beginning and end of year	$ 228,471,000	$ 239,629,000
Ordinary shares [member] | Issued capital [member]
Statement Line Items [Line Items]
Balance (in shares)	27,245,782	27,441,082
Balance	$ 225,982,000	$ 227,674,000
Options exercised during the year (in shares)	40,000	0
Options exercised during the year	$ 280,000	$ 0
Purchased and cancelled during the year (in shares)	(1,321,358)	(195,300)
Purchased and cancelled during the year	$ (11,438,000)	$ (1,692,000)
Balance (in shares)	25,964,424	27,245,782
Balance	$ 214,824,000	$ 225,982,000
Balance (in shares)	25,964,424	27,245,782
Outstanding, beginning and end of year	$ 214,824,000	$ 225,982,000
Series 1 preferred shares [member] | Issued capital [member]
Statement Line Items [Line Items]
Balance (in shares)	1,461,460
Balance	$ 13,647,000
Balance (in shares)	1,461,460	1,461,460
Balance	$ 13,647,000	$ 13,647,000
Balance (in shares)	1,461,460	1,461,460
Outstanding, beginning and end of year	$ 13,647,000	$ 13,647,000

Note 15 - Stock-based Compens_3

Note 15 - Stock-based Compensation (Details Textual)	12 Months Ended
	Oct. 31, 2023 CAD ($) $ / shares shares	Oct. 31, 2022 CAD ($)
Statement Line Items [Line Items]
Option life, share options granted	3.5	3.5
Total expense from share-based payment transactions	$ 901,000	$ 1,500,000
Number of share options granted in share-based payment arrangement	1,500	971,707
Risk free interest rate, share options granted	3.33%	1.39%
Expected volatility, share options granted	30%	29.50%
Expected dividend as percentage, share options granted	1.10%	0.60%
Forfeiture rate, share options granted	2%	2%
Weighted average fair value per option, share options granted (in CAD per share) | $ / shares	$ 0.96
Shares issued from stock option exercises (in shares) | shares	40,000
Increase (decrease) through exercise of options, equity	$ 280,000
Options vesting immediately [member]
Statement Line Items [Line Items]
Percentage of options vesting for share-based payment arrangement	33.33%
Options vesting first anniversary [member]
Statement Line Items [Line Items]
Percentage of options vesting for share-based payment arrangement	33.33%
Options vesting second anniversary [member]
Statement Line Items [Line Items]
Percentage of options vesting for share-based payment arrangement	33.33%
Top of range [member]
Statement Line Items [Line Items]
Option life, share options granted	5

Note 15 - Stock-based Compens_4

Note 15 - Stock-based Compensation - Stock Option Transactions (Details)	12 Months Ended
	Oct. 31, 2023 $ / shares	Oct. 31, 2022 $ / shares
Statement Line Items [Line Items]
Outstanding, beginning of period	965,766	40,000
Outstanding, beginning of period, weighted average exercise price (in CAD per share)	$ 15.53	$ 7
Granted	1,500	971,707
Granted, weighted average exercise price (in CAD per share)	$ 15.9	$ 15.9
Exercised	(40,000)	0
Exercised, weighted average exercise price (in CAD per share)	$ 7	$ 0
Forfeited/cancelled	(52,873)	(45,941)
Forfeited/cancelled (in CAD per share)	$ 15.9	$ 15.9
Expired	0	0
Expired, weighted average exercise price (in CAD per share)	$ 0	$ 0
Outstanding, end of period	874,393	965,766
Outstanding, beginning of period, weighted average exercise price (in CAD per share)	$ 15.9	$ 15.53

Note 16 - Income Taxes (Details

Note 16 - Income Taxes (Details Textual) - CAD ($)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Applicable tax rate	27%	27%
Net deferred tax assets	$ 3,327,000	$ 1,342,000
Tax effect from dividends on taxable preferred shares	396,000	396,000
Capital loss carryforwards	9,500,000	9,500,000
Deductible temporary differences for which no deferred tax asset is recognised	3,500,000	3,900,000
No expiration [member]
Statement Line Items [Line Items]
Unused tax losses for which no deferred tax asset recognised	1,200,000	1,500,000
Dependent on future taxable earnings in tax jurisdiction [member]
Statement Line Items [Line Items]
Net deferred tax assets	1,800,000	692,000
US Income Tax Loss Carryforwards [Member]
Statement Line Items [Line Items]
Net deferred tax assets	360,000	0
Capital Loss Carryforward [Member]
Statement Line Items [Line Items]
Net deferred tax assets	$ 1,300,000	$ 0

Note 16 - Income Taxes - Comput

Note 16 - Income Taxes - Computation of Income Taxes (Details) - CAD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Income before income taxes	$ 57,645	$ 32,548
Income tax rate	27%	27%
Expected income tax provision	$ 15,564	$ 8,788
Tax rate differential	(569)	172
Unrecognized deferred tax asset	136	411
Other permanent differences	352	519
Income taxes	$ 15,483	$ 9,890

Note 16 - Income Taxes - Income

Note 16 - Income Taxes - Income Taxes (Details) - CAD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Current income taxes	$ 17,468	$ 9,199
Deferred income taxes	(1,985)	691
Income taxes	$ 15,483	$ 9,890

Note 16 - Income Taxes - Compon

Note 16 - Income Taxes - Components of Recognized Deferred Income Tax Assets (Liabilities) (Details) - CAD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Net deferred income tax assets	$ 1,342	$ 2,033
Recognized in net income		(691)
Net deferred income tax assets		1,342
Deferred income tax asset (note 16)	4,058	2,128
Deferred tax liabilities	(731)	(786)
Net deferred income tax assets	3,327	1,342
Allowance for credit losses [member]
Statement Line Items [Line Items]
Net deferred income tax assets	508	388
Recognized in net income	158	120
Net deferred income tax assets	666	508
Loss carryforwards [member]
Statement Line Items [Line Items]
Net deferred income tax assets	0	338
Recognized in net income	1,625	(338)
Net deferred income tax assets	1,625	0
Share issue and financing costs [member]
Statement Line Items [Line Items]
Net deferred income tax assets	909	1,373
Recognized in net income	(463)	(464)
Net deferred income tax assets	446	909
Deposit commissions [member]
Statement Line Items [Line Items]
Net deferred income tax assets	(1,227)	(981)
Recognized in net income	(596)	(246)
Net deferred income tax assets	(1,823)	(1,227)
Intangible assets [member]
Statement Line Items [Line Items]
Net deferred income tax assets	(786)	(898)
Recognized in net income	188	112
Net deferred income tax assets	(598)	(786)
Deferred loan fees [member]
Statement Line Items [Line Items]
Net deferred income tax assets	658	757
Recognized in net income	160	(99)
Net deferred income tax assets	818	658
Other Deferred Income Tax Assets [Member]
Statement Line Items [Line Items]
Net deferred income tax assets	1,280	1,056
Recognized in net income	913	224
Net deferred income tax assets	$ 2,193	$ 1,280

Note 17 - Per Share Amounts - B

Note 17 - Per Share Amounts - Basic and Diluted Income Per Common Share (Details) - CAD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Net income	$ 42,162	$ 22,658
Preferred share dividends paid	(988)	(988)
Net income available to common shareholders	$ 41,174	$ 21,670
Weighted average number of common shares outstanding (in shares)	26,273,739	27,425,479
Basic and diluted income per common share: (in CAD per share)	$ 1.57	$ 0.79

Note 18 - Derivative Instrume_2

Note 18 - Derivative Instruments (Details Textual) - Interest rate swap contract [member] - CAD ($)	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Notional amount	$ 20,800,000	$ 0
Financial assets qualified for hedge accounting	20,800,000	0
Hedged item, assets	19,800,000
Reserve of cash flow hedges	955,000
Other assets [member]
Statement Line Items [Line Items]
Total financial assets	$ 1,500,000	$ 0

Note 19 - Nature and Extent o_3

Note 19 - Nature and Extent of Risks Arising from Financial Instruments (Details Textual) - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Interest rate swap contract [member]
Statement Line Items [Line Items]
Financial assets qualified for hedge accounting	$ 20,800	$ 0
Satisfactory Grade Loans [Member]
Statement Line Items [Line Items]
Percentage of Lending Assets	99%

Note 19 - Nature and Extent o_4

Note 19 - Nature and Extent of Risks Arising from Financial Instruments - Analysis of Sensitivity to Market Interest Rates (Details) - Interest rate risk [member] $ in Thousands	Oct. 31, 2023 CAD ($)	Oct. 31, 2022 CAD ($)
Increase 100 bps [member]
Statement Line Items [Line Items]
Impact of projected net interest income during a 12 month period	$ 4,046	$ 4,304
Duration difference between assets and liabilities (months)	(2)	1.4
Decrease 100 bps [member]
Statement Line Items [Line Items]
Impact of projected net interest income during a 12 month period	$ (4,059)	$ (4,261)

Note 20 - Interest Rate Risk _3

Note 20 - Interest Rate Risk and Liquidity Risk - Interest Rate Risk Gaps (Details) - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Statement Line Items [Line Items]
Cash	$ 132,242	$ 88,581	$ 271,523
Securities	167,940	141,564
Loans	3,850,404	2,992,678
Other	51,024	43,175
Total assets	4,201,610	3,265,998
Deposits	3,533,366	2,657,540
Subordinated notes	106,850	104,951
Other	184,236	152,832
Equity	377,158	350,675
Total liabilities and equity	4,201,610	3,265,998
Interest rate swap	1,517	0
Gap	0	0
Cumulative	0	0
Interest rate swap contract [member]
Statement Line Items [Line Items]
Interest rate swap	0
Interest rate risk [member]
Statement Line Items [Line Items]
Cash	0
Securities	0
Loans	18,168
Other	51,024
Total assets	69,192
Deposits	62,164
Subordinated notes	0
Other	21,649
Equity	363,511
Total liabilities and equity	447,324
Gap	(378,132)	(326,672)
Cumulative	0	0
Interest rate risk [member] | Interest rate swap contract [member]
Statement Line Items [Line Items]
Interest rate swap	0
Floating interest rate [member]
Statement Line Items [Line Items]
Deposits	555,353
Floating interest rate [member] | Interest rate risk [member]
Statement Line Items [Line Items]
Cash	132,242
Securities	0
Loans	811,219
Other	0
Total assets	943,461
Deposits	555,353
Subordinated notes	0
Other	162,587
Equity	0
Total liabilities and equity	717,940
Gap	246,306	116,936
Cumulative	246,306	116,936
Floating interest rate [member] | Interest rate risk [member] | Interest rate swap contract [member]
Statement Line Items [Line Items]
Interest rate swap	$ 20,785
Floating interest rate [member] | Interest rate risk [member] | Cash [member]
Statement Line Items [Line Items]
Effective rate	4.90%
Floating interest rate [member] | Interest rate risk [member] | Loans [member]
Statement Line Items [Line Items]
Effective rate	9.61%
Floating interest rate [member] | Interest rate risk [member] | Deposits from banks [member]
Statement Line Items [Line Items]
Effective rate	3.94%
Floating interest rate [member] | Interest rate risk [member] | Other liabilities [member]
Statement Line Items [Line Items]
Effective rate	4.05%
Fixed interest rate [member] | Not later than three months [member]
Statement Line Items [Line Items]
Deposits	$ 403,000
Fixed interest rate [member] | Later than three months and not later than one year [member]
Statement Line Items [Line Items]
Deposits	1,461,075
Fixed interest rate [member] | Later than one year and not later than two years [member]
Statement Line Items [Line Items]
Deposits	433,205
Fixed interest rate [member] | Later than five years [member]
Statement Line Items [Line Items]
Deposits	0
Fixed interest rate [member] | Later than two years and not later than five years [member]
Statement Line Items [Line Items]
Deposits	618,569
Fixed interest rate [member] | Interest rate risk [member] | Not later than three months [member]
Statement Line Items [Line Items]
Cash
Securities	164,930
Loans	101,786
Other	0
Total assets	266,716
Deposits	403,000
Subordinated notes	0
Other	0
Equity	0
Total liabilities and equity	403,000
Gap	(136,284)	(47,087)
Cumulative	110,022	69,849
Fixed interest rate [member] | Interest rate risk [member] | Not later than three months [member] | Interest rate swap contract [member]
Statement Line Items [Line Items]
Interest rate swap	$ 0
Fixed interest rate [member] | Interest rate risk [member] | Not later than three months [member] | Securities [member]
Statement Line Items [Line Items]
Effective rate	4.72%
Fixed interest rate [member] | Interest rate risk [member] | Not later than three months [member] | Loans [member]
Statement Line Items [Line Items]
Effective rate	6.42%
Fixed interest rate [member] | Interest rate risk [member] | Not later than three months [member] | Deposits from banks [member]
Statement Line Items [Line Items]
Effective rate	3.93%
Fixed interest rate [member] | Interest rate risk [member] | Later than three months and not later than one year [member]
Statement Line Items [Line Items]
Cash	$ 0
Securities	0
Loans	355,277
Other	0
Total assets	355,277
Deposits	1,461,075
Subordinated notes	0
Other	0
Equity	0
Total liabilities and equity	1,461,075
Gap	(1,105,798)	(383,153)
Cumulative	(995,776)	(313,304)
Fixed interest rate [member] | Interest rate risk [member] | Later than three months and not later than one year [member] | Interest rate swap contract [member]
Statement Line Items [Line Items]
Interest rate swap	$ 0
Fixed interest rate [member] | Interest rate risk [member] | Later than three months and not later than one year [member] | Securities [member]
Statement Line Items [Line Items]
Effective rate
Fixed interest rate [member] | Interest rate risk [member] | Later than three months and not later than one year [member] | Loans [member]
Statement Line Items [Line Items]
Effective rate	6.76%
Fixed interest rate [member] | Interest rate risk [member] | Later than three months and not later than one year [member] | Deposits from banks [member]
Statement Line Items [Line Items]
Effective rate	4.66%
Fixed interest rate [member] | Interest rate risk [member] | Later than one year and not later than two years [member]
Statement Line Items [Line Items]
Cash	$ 0
Securities	3,010
Loans	224,579
Other	0
Total assets	227,589
Deposits	433,205
Subordinated notes	0
Other	0
Equity	13,647
Total liabilities and equity	446,852
Gap	(219,263)	(291,346)
Cumulative	(1,215,039)	(604,650)
Fixed interest rate [member] | Interest rate risk [member] | Later than one year and not later than two years [member] | Interest rate swap contract [member]
Statement Line Items [Line Items]
Interest rate swap	$ 0
Fixed interest rate [member] | Interest rate risk [member] | Later than one year and not later than two years [member] | Loans [member]
Statement Line Items [Line Items]
Effective rate	5.59%
Fixed interest rate [member] | Interest rate risk [member] | Later than one year and not later than two years [member] | Deposits from banks [member]
Statement Line Items [Line Items]
Effective rate	3.71%
Fixed interest rate [member] | Interest rate risk [member] | Later than two year and not later than five years [member]
Statement Line Items [Line Items]
Cash	$ 0
Securities	0
Loans	1,682,029
Other	0
Total assets	1,682,029
Deposits	618,569
Subordinated notes	0
Other	$ 0
Effective rate
Equity	$ 0
Total liabilities and equity	618,569
Gap	1,063,460	623,906
Cumulative	$ (151,579)	19,256
Fixed interest rate [member] | Interest rate risk [member] | Later than two year and not later than five years [member] | Loans [member]
Statement Line Items [Line Items]
Effective rate	5.93%
Fixed interest rate [member] | Interest rate risk [member] | Later than two year and not later than five years [member] | Deposits from banks [member]
Statement Line Items [Line Items]
Effective rate	4.17%
Fixed interest rate [member] | Interest rate risk [member] | Later than five years [member]
Statement Line Items [Line Items]
Cash	$ 0
Securities	0
Loans	657,346
Other	0
Total assets	657,346
Deposits	0
Subordinated notes	106,850
Other	0
Equity	0
Total liabilities and equity	106,850
Gap	529,711	307,416
Cumulative	378,132	$ 326,672
Fixed interest rate [member] | Interest rate risk [member] | Later than five years [member] | Interest rate swap contract [member]
Statement Line Items [Line Items]
Interest rate swap	$ (20,785)
Fixed interest rate [member] | Interest rate risk [member] | Later than five years [member] | Loans [member]
Statement Line Items [Line Items]
Effective rate	6.25%
Fixed interest rate [member] | Interest rate risk [member] | Later than five years [member] | Deposits from banks [member]
Statement Line Items [Line Items]
Effective rate
Fixed interest rate [member] | Interest rate risk [member] | Later than five years [member] | Subordinated notes [member]
Statement Line Items [Line Items]
Effective rate	5.61%
Fixed interest rate [member] | Interest rate risk [member] | Later than two years and not later than five years [member] | Interest rate swap contract [member]
Statement Line Items [Line Items]
Interest rate swap	$ 0

Note 21 - Fair Value of Finan_3

Note 21 - Fair Value of Financial Instruments - Fair Value of Financial Instruments (Details) - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Other financial liabilities [member]
Statement Line Items [Line Items]
Liabilities, book value	$ 176,039	$ 146,249
Liabilities, fair value	176,039	146,249
Deposits from banks [member]
Statement Line Items [Line Items]
Liabilities, book value	3,533,366	2,657,540
Liabilities, fair value	3,436,491	2,561,421
Subordinated notes [member]
Statement Line Items [Line Items]
Liabilities, book value	106,850	104,951
Liabilities, fair value	109,033	107,368
Level 1 of fair value hierarchy [member] | Other financial liabilities [member]
Statement Line Items [Line Items]
Liabilities, fair value	0
Level 1 of fair value hierarchy [member] | Deposits from banks [member]
Statement Line Items [Line Items]
Liabilities, fair value	0
Level 1 of fair value hierarchy [member] | Subordinated notes [member]
Statement Line Items [Line Items]
Liabilities, fair value	0
Level 2 of fair value hierarchy [member] | Other financial liabilities [member]
Statement Line Items [Line Items]
Liabilities, fair value	0
Level 2 of fair value hierarchy [member] | Deposits from banks [member]
Statement Line Items [Line Items]
Liabilities, fair value	0
Level 2 of fair value hierarchy [member] | Subordinated notes [member]
Statement Line Items [Line Items]
Liabilities, fair value	109,033
Level 3 of fair value hierarchy [member] | Other financial liabilities [member]
Statement Line Items [Line Items]
Liabilities, fair value	176,039
Level 3 of fair value hierarchy [member] | Deposits from banks [member]
Statement Line Items [Line Items]
Liabilities, fair value	3,436,491
Level 3 of fair value hierarchy [member] | Subordinated notes [member]
Statement Line Items [Line Items]
Liabilities, fair value	0
Cash and cash equivalents [member]
Statement Line Items [Line Items]
Total loans	132,242	88,581
Assets, fair value	132,242	88,581
Cash and cash equivalents [member] | Level 1 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	132,242
Cash and cash equivalents [member] | Level 2 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	0
Cash and cash equivalents [member] | Level 3 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	0
Securities [member]
Statement Line Items [Line Items]
Total loans	167,940	141,564
Assets, fair value	167,940	141,564
Securities [member] | Level 1 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	167,940
Securities [member] | Level 2 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	0
Securities [member] | Level 3 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	0
Loans, net [member]
Statement Line Items [Line Items]
Total loans	3,850,404	2,992,678
Assets, fair value	3,837,599	2,963,676
Loans, net [member] | Level 1 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	0
Loans, net [member] | Level 2 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	0
Loans, net [member] | Level 3 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	3,837,599
Derivatives [member]
Statement Line Items [Line Items]
Total loans	1,517	0
Assets, fair value	1,517	0
Derivatives [member] | Level 1 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	0
Derivatives [member] | Level 2 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	1,517
Derivatives [member] | Level 3 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	0
Other financial assets [member]
Statement Line Items [Line Items]
Total loans	953	953
Assets, fair value	953	$ 953
Other financial assets [member] | Level 1 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	0
Other financial assets [member] | Level 2 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	0
Other financial assets [member] | Level 3 of fair value hierarchy [member]
Statement Line Items [Line Items]
Assets, fair value	$ 953

Note 22 - Related Party Trans_2

Note 22 - Related Party Transactions (Details Textual)	12 Months Ended
	Oct. 31, 2023 CAD ($)	Oct. 31, 2022 CAD ($)	Oct. 31, 2021	Mar. 31, 2019 CAD ($)
Statement Line Items [Line Items]
Revenue from rendering of services, related party transactions	$ 115,000	$ 95,000
Key management personnel compensation	$ 6,900,000	$ 6,400,000
Number of share options outstanding in share-based payment arrangement at end of period	874,393	965,766	40,000
Key management personnel of entity or parent [member]
Statement Line Items [Line Items]
Amounts receivable, related party transactions	$ 1,500,000	$ 1,300,000
Allowance account for credit losses of financial assets at end of period	$ 0	0
Number of share options outstanding in share-based payment arrangement at end of period	109,050
Key management personnel of entity or parent [member] | Subordinated notes payable [member]
Statement Line Items [Line Items]
Notional amount				$ 500,000
Borrowings, interest rate				10%
Corporation controlled by key management personnel [member]
Statement Line Items [Line Items]
Amounts receivable, related party transactions	$ 3,900,000	3,900,000
Key management personnel compensation	$ 1,700,000	$ 1,100,000

Note 23 - Commitments and Con_3

Note 23 - Commitments and Contingencies (Details Textual) - CAD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Financial assets pledged as collateral for liabilities or contingent liabilities	$ 11.3	$ 11.1
Total capital commitments	$ 17.5

Note 23 - Commitments and Con_4

Note 23 - Commitments and Contingencies - Credit Related Commitments (Details) - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Credit commitments	$ 481,389	$ 443,124
Loan commitments [member]
Statement Line Items [Line Items]
Credit commitments	405,426	382,851
Letters of credit [member]
Statement Line Items [Line Items]
Credit commitments	$ 75,963	$ 60,273

Note 24 - Capital Management (D

Note 24 - Capital Management (Details Textual)	Oct. 31, 2023
Statement Line Items [Line Items]
Maximum percentage of credit risk-weighted assets for allowance	1.25%
Required minimum capital ratio, common equity tier 1	7%
Required minimum capital ratio, tier 1 capital	8.50%
Required minimum capital ratio, total capital	10.50%
Capital conservation buffer	2.50%
Minimum leverage ratio	3%

Note 24 - Capital Management -

Note 24 - Capital Management - Risk-based Capital Ratios (Details) - CAD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Directly issued capital instruments	$ 228,471	$ 239,629
Contributed surplus	2,513	1,612
Retained earnings	146,043	109,335
Accumulated other comprehensive income	131	99
Regulatory capital		448,575
Total risk-weighted assets		$ 2,714,902
CET1 capital ratio		16.52%
Total assets	4,201,610	$ 3,265,998
Transitional [member]
Statement Line Items [Line Items]
Regulatory capital	476,005
Total risk-weighted assets	$ 3,095,092
CET1 capital ratio	15.38%
Basel III [member]
Statement Line Items [Line Items]
Adjustments to capital	$ (12,699)	(11,371)
Total assets		3,265,998
Total on-balance sheet exposures		3,254,627
Total off-balance sheet exposure at gross notional amount	481,389	443,124
Adjustments for conversion to credit equivalent amount		251,101
Total off-balance sheet exposures	199,684	192,023
Total exposures		$ 3,446,650
Leverage ratio		9.84%
Basel III [member] | Transitional [member]
Statement Line Items [Line Items]
Total assets	4,201,610
Total on-balance sheet exposures	4,188,911
Adjustments for conversion to credit equivalent amount	281,705
Total exposures	$ 4,388,595
Leverage ratio	8.30%
Common equity tier 1 [member]
Statement Line Items [Line Items]
Directly issued capital instruments		$ 225,982
Contributed surplus		1,612
Retained earnings		109,335
Accumulated other comprehensive income		99
Regulatory capital before adjustments		337,028
Adjustments to capital		(11,371)
Regulatory capital		$ 325,657
CET1 capital ratio		12%
Common equity tier 1 [member] | Transitional [member]
Statement Line Items [Line Items]
Directly issued capital instruments	$ 214,824
Contributed surplus	2,513
Retained earnings	146,043
Accumulated other comprehensive income	131
Regulatory capital before adjustments	363,511
Adjustments to capital	(12,699)
Regulatory capital	$ 350,812
CET1 capital ratio	11.33%
Capital Tier 1 [member]
Statement Line Items [Line Items]
Directly issued capital instruments		$ 13,647
Regulatory capital	$ 364,459	$ 339,304
CET1 capital ratio		12.50%
Capital Tier 1 [member] | Transitional [member]
Statement Line Items [Line Items]
Directly issued capital instruments	13,647
Regulatory capital	$ 364,459
CET1 capital ratio	11.78%
Tier 2 capital [member]
Statement Line Items [Line Items]
Directly issued capital instruments	$ 109,033	$ 107,367
Regulatory capital before adjustments		107,367
Adjustments to capital		1,904
Regulatory capital		$ 109,271
Tier 2 capital [member] | Transitional [member]
Statement Line Items [Line Items]
Regulatory capital before adjustments	109,033
Adjustments to capital	2,513
Regulatory capital	$ 111,546

Note 25 - Operating Segments (D

Note 25 - Operating Segments (Details Textual)	12 Months Ended
	Oct. 31, 2023
Statement Line Items [Line Items]
Number of segments	2

Note 25 - Operating Segments -

Note 25 - Operating Segments - Results of Reportable Operating Segments (Details) - CAD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Statement Line Items [Line Items]
Net interest income	$ 100,051	$ 76,666
Non-interest income	8,584	5,726
Total revenue	108,635	82,392
Provision for (recovery of) credit losses	609	451
Revenue less provision for credit loss	108,026	81,941
Non-interest expenses:
Salaries and benefits	31,428	26,796
General and administrative	15,051	18,732
Premises and equipment	3,902	3,865
Noninterest expense	50,381	49,393
Income before income taxes	57,645	32,548
Income tax provision	15,483	9,890
Net income	42,162	22,658
Total assets	4,201,610	3,265,998
Total liabilities	3,824,452	2,915,323
Elimination of intersegment amounts [member]
Statement Line Items [Line Items]
Net interest income	0	0
Non-interest income	(1,654)	(165)
Total revenue	(1,654)	(165)
Provision for (recovery of) credit losses	0	0
Revenue less provision for credit loss	(1,654)	(165)
Non-interest expenses:
Salaries and benefits	0	0
General and administrative	(1,654)	(165)
Premises and equipment	0	0
Noninterest expense	(1,654)	(165)
Income before income taxes	0	0
Income tax provision	0	0
Net income	0	0
Total assets	(15,709)	(23,826)
Total liabilities	(22,748)	(22,681)
Banking segment [member] | Operating segments [member]
Statement Line Items [Line Items]
Net interest income	100,051	76,666
Non-interest income	540	52
Total revenue	100,591	76,718
Provision for (recovery of) credit losses	609	451
Revenue less provision for credit loss	99,982	76,267
Non-interest expenses:
Salaries and benefits	25,382	22,303
General and administrative	15,140	17,614
Premises and equipment	2,462	2,475
Noninterest expense	42,984	42,392
Income before income taxes	56,998	33,875
Income tax provision	15,867	9,744
Net income	41,131	24,131
Total assets	4,190,876	3,267,479
Total liabilities	3,818,412	2,912,249
Cybersecurity segment [member] | Operating segments [member]
Statement Line Items [Line Items]
Net interest income	0	0
Non-interest income	9,698	5,839
Total revenue	9,698	5,839
Provision for (recovery of) credit losses	0	0
Revenue less provision for credit loss	9,698	5,839
Non-interest expenses:
Salaries and benefits	6,046	4,493
General and administrative	1,565	1,283
Premises and equipment	1,440	1,390
Noninterest expense	9,051	7,166
Income before income taxes	647	(1,327)
Income tax provision	(384)	146
Net income	1,031	(1,473)
Total assets	26,443	22,345
Total liabilities	$ 28,788	$ 25,755

Note 26 - Acquisitions (Details

Note 26 - Acquisitions (Details Textual) - Jun. 10, 2022 - Steams Bank Holdingford, N.A. [member] $ in Millions, $ in Millions	CAD ($)	USD ($)
Statement Line Items [Line Items]
Total consideration transferred, acquisition-date fair value	$ 18.4	$ 13.5
Assets recognised as of acquisition date	$ 60