Assets and Liabilities Held for Sale

3 Months Ended

Feb. 28, 2026

Note 4. Assets and Liabilities Held for Sale

Tessellis

During 2026, we accepted a binding offer from a third party for

the sale of Tessellis. We expect the sale to close during first

quarter of 2027.

Assets held for sale are recorded initially at the lower of their

carrying value or estimated fair value, less estimated costs to

sell. Upon designation as an asset held for sale, we discontinue

recording depreciation and amortization expense on such assets.

Tessellis is included within our asset management reportable

segment.

Tessellis’ major classes of assets and liabilities:


$ in thousands	February 28, 2026
Assets held for sale:
Cash and cash equivalents ........................................	$6,266
Investments in and loans to related parties ............	6,579
Other receivables ........................................................	25,074
Premises and equipment, net ....................................	66,215
Goodwill ........................................................................	56,850
Other assets .................................................................	108,723
Total assets held for sale .....................................	$269,707

Liabilities held for sale:
Short term borrowings ................................................	$6,071
Lease liabilities ............................................................	19,291
Accrued expenses and other liabilities ....................	181,699
Long-term debt ............................................................	50,827
Total liabilities held for sale ................................	$257,888