Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 36

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 Income from Loans

For the three and six months ended June 30, 2025 and 2024, fee income from loans consisted of the following:Three Months EndedSix Months EndedJune 30,June 30,2025202420252024(in thousands)(in thousands)Origination and modification fees $761 $1,194 $1541 $2,656 Extension fees184 271 462 385 Late and other fees 147 226 226 509 Processing fees30 36 51 71 Construction servicing fees104 70 241 249 Legal fees71 75 134 157 Other fees474 211 541 672 Total$1,771 $2,083 $3,196 $4,699 

14.   Commitments and Contingencies

Unfunded CommitmentsAt June 30, 2025, the Company had future funding obligations on loans held for investment totaling $54.6 million and obligations relating to investments in limited liability companies totaling $2.4 million, which can be drawn by the borrowers when the conditions relating thereto have been satisfied. The unfunded commitments will be funded from loan payoffs and additional drawdowns under existing and future credit facilities and proceeds from sale of debt and equity securities. The Company’s unfunded commitments are subject to accounting rules relating to allowances for credit losses. (See Note 4 – Loans and Allowance for Credit Losses for further details.)LitigationThe Company is subject to various pending and threatened legal proceedings or other matters arising out of the normal conduct of business in which claims for monetary damages are asserted. As of the date of this report, management, after consultation with legal counsel, does not anticipate that the aggregate ultimate liability arising out of such pending or threatened matters will be material to the Company’s consolidated financial position. On at least a quarterly basis, the Company assesses its liabilities and contingencies in connection with such matters. For those matters where it is probable that the Company will incur losses and the amounts of the losses can be reasonably estimated, the Company records an expense and corresponding liability in its condensed consolidated financial statements. To the extent such matters could result in exposure in excess of that liability, the amount of such excess is not currently estimable. The range of losses for matters where an exposure is not currently estimable or considered probable is not believed to be material in the aggregate. This is based on information currently available to the Company and involves elements