Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 23

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 months  were added to the life of the loans(in thousands)Three Months Ended June 30, 2024Carrying Value% of TotalCarrying Value ofLoans held for investment, netFinancial EffectPrincipal modification, with no term extension$3,408 0.7 %Unpaid interest/taxes/charges added to principal balanceTerm extension$61,008 12.2 %A weighted average of 12.0 months were added to the life of the loans(in thousands)Six Months Ended June 30, 2025Carrying Value% of TotalCarrying Value ofLoans held for investment, netFinancial EffectPrincipal modification, with no term extension$14,042 3.5 %Unpaid interest/taxes/charges added to principal balanceTerm extension$47,702 11.9 %A weighted average of 7.4 months were added to the life of the loansSix Months Ended June 30, 2024Carrying Value% of TotalCarrying Value ofLoans held for investment, netFinancial EffectPrincipal modification, with no term extension21,373 4.3 %Unpaid interest/taxes/charges added to principal balanceTerm extension104,452 20.9 %A weighted average of 10.5 months were added to the life of the loansAs of June 30, 2025, the Company had commitments to lend additional amounts totaling approximately $7.7 million to borrowers experiencing financial difficulty. During the six months ended June 30, 2025, the Company modified the interest rate on five loans with an outstanding principal balance of $18.9 million. The change in the rate was due to taking the loan off default rate.

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Table of ContentsSACHEM CAPITAL CORP.NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTSFOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025

The table below presents the performance of loans that have been modified in the last 12 months to borrowers experiencing financial difficulty. Of the loans that were modified in the last 12 months to borrowers experiencing financial difficulty, none have defaulted during the period.As of June 30, 2025(in thousands)Current90-119 days past due120+ days past dueTotalPrincipal modification, with no term extension$15,268 $— $— $15,268 Term extension61,692 12,895 — 74,587 Deferred loan fees