CWBFG Annual Report 2023

Fair Value Hierarchy We categorize our fair value measurements of financial instruments according to a three-level hierarchy. Level 1 fair value measurements reflect unadjusted quoted prices in active markets for identical assets and liabilities that we can access at the measurement date. Level 2 fair value measurements are estimated using observable inputs, including quoted market prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, and model inputs that are either observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 fair value measurements are determined using one or more inputs that are unobservable and significant to the fair value of the asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available at the measurement date.

As at October 31, 2023

Fair Value

Level 1

Level 2

Level 3

Financial Assets Cash resources

$

215,809 $

121,453 $

94,356 $

- -

Securities

3,908,806

545,888

3,362,918

Securities purchased under resale agreements

134,662

134,662

Loans

36,877,469

- -

-

36,877,469

Derivatives

109,290

109,290

-

Total Financial Assets

$

41,246,036 $

667,341 $

3,701,226 $

36,877,469

Financial Liabilities Deposits

$

32,963,151 $

- $

32,963,151 $

- - -

Debt

3,817,442

- -

3,817,442

Derivatives

198,596

198,596

Total Financial Liabilities

$

36,979,189 $

- $

36,979,189 $

-

Valuation Technique

As at October 31, 2022

Fair Value

Level 1

Level 2

Level 3

Financial Assets Cash resources

$

115,979 $

115,979 $

- $

- -

Securities

4,518,795 35,478,626

1,003,840

3,514,955

Loans

- -

-

35,478,626

Derivatives

110,521

110,521

-

Total Financial Assets

$

40,223,921 $

1,119,819 $

3,625,476 $

35,478,626

Financial Liabilities Deposits

$

32,414,786 $

- $

32,414,786 $

- - - -

Securities sold under repurchase agreements

247,354

- - -

247,354

Debt

3,417,350

3,417,350

Derivatives

156,081

156,081

Total Financial Liabilities

$

36,235,571 $

- $

36,235,571 $

-

Financial instruments that are not carried on the balance sheet at fair value, but where fair values are disclosed above, include securities purchased under resale agreements, loans, deposits, securities sold under repurchase agreements and debt.

CWB Financial Group 2023 Annual Report | 103

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