(thousands of Canadian dollars)

2022

2021

Ten year term, unsecured, non-viability contingent capital compliant, subordinated notes payable, principal amount of $5.0 million, $500,000 is held by related party (note 19), effective interest rate of 10.41%, maturing March 2029.

$

4,908

$

4,898

Ten year term, unsecured, non-viability contingent capital compliant, subordinated notes payable, principal amount of USD $75.0 million, effective interest rate of 5.38%, maturing May 2031.

100,043

90,374

$

104,951

$

95,272