Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 8

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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748 shares of Series A Preferred Stock issued and outstanding at June 30, 2025 and December 31, 20242 2 Common Shares - $0.001 par value; 200,000,000 shares authorized; 47,310,139 and 46,965,306 issued and outstanding at June 30, 2025 and December 31, 2024, respectively47 47 Additional paid-in capital257,384 256,956 Cumulative net earnings38,309 35,518 Cumulative dividends paid(117,835)(110,872)Total shareholders’ equity177,907 181,651 Total liabilities and shareholders’ equity$501,763 $491,976 

The accompanying notes, together with the Notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, are an integral part of these financial statements.

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Table of Contents

SACHEM CAPITAL CORP.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

(dollars in thousands, except share and per share data)

Three Months EndedSix Months EndedJune 30,June 30,2025202420252024RevenuesInterest income from loans$7,482 $11,754 $15,370 $24,395 Fee income from loans1,771 2,083 3,196 4,699 Income from limited liability company investments978 1,217 3,030 2,413 Other investment income12 70 17 386 Other income532 22 604 57 Total revenues10,775 15,146 22,217 31,950 Operating expensesInterest and amortization of deferred financing costs6,139 6,973 12,233 14,442 Compensation and employee benefits1,821 1,365 3,592 3,308 General and administrative expenses1,304 1,258 2,659 2,496 Provision for credit losses related to loans held for investment925 8,503 1,977 9,868 Change in valuation allowance related to loans held for sale(1,043)— (1,047)— Gain on sale of real estate owned and property and equipment, net(131)(275)(131)(264)Other expenses694 439 839 943 Total