Company: TIPT
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001393726-25-000055
Chunk: 22

Company: TIPTREE INC.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 22
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 credit at 1.75%, 2.00% and 2.50% over the one month SOFR rate, and (ii) a $25,000 line of credit at 1.75% over the one month SOFR rate, with a floor of 2.75%. (iii) a $30,000 line of credit at 1.875% over the one month SOFR rate and (iv) a $10,000 line of credit at 3.30% over the one month SOFR rate.(5)    The weighted average coupon rate for residential mortgage warehouse borrowings was 6.17% and 6.25% at March 31, 2025 and December 31, 2024, respectively.The following table presents the amount of interest expense the Company incurred on its debt for the following periods:Three Months EndedMarch 31, 20252024Interest expense - corporate debt$8,450 $6,002 Interest expense - asset based debt1,910 2,288 Total interest expense on debt$10,360 $8,290 

F-25

TIPTREE INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial StatementsMarch 31, 2025(in thousands, except share data)

The following table presents the contractual principal payments and future maturities of the unpaid principal balance on the Company’s debt for the following periods: As of March 31, 2025Remainder of 2025$61,044 202666,039 202736,000 202874,813 2029— 2030 and thereafter275,000 Total$512,896 The following narrative is a summary of certain terms of our debt agreements for the three months ended March 31, 2025:Corporate DebtSecured Revolving Credit AgreementsAs of March 31, 2025 and December 31, 2024, a total of $36,000 and $0, respectively, was outstanding under the revolving line of credit. The maximum borrowing capacity under the agreements as of March 31, 2025 was $200,000.Secured Term Credit AgreementOn February 7, 2025, Tiptree Holdings LLC, a subsidiary of Tiptree Inc., entered into a $75,000 senior secured credit facility due February 7, 2028.  Interest is paid monthly, at an interest rate of SOFR plus 5