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

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 CONDENSED CONSOLIDATED FINANCIAL STATEMENTSFOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025

The following table summarizes the activity in the allowance for credit losses by geographic location with respect to loans held for investment for the three months ended June 30, 2025:Allowance for credit losses as of March 31, 2025Provision for(recovery of) credit lossesrelated to loansReclassification of loans held for sale to loans held for investmentCharge-offsAllowance for credit lossesas of June 30, 2025(in thousands)New England$12,878 $(5,704)$3,292 $— $10,466 Mid-Atlantic1,864 2,658 — (466)4,056 South1,460 (123)— (47)1,290 West1,920 (87)— — 1,833 Total$18,122 $(3,256)$3,292 $(513)$17,645 The following table summarizes the activity in the allowance for credit losses by geographic location with respect to loans held for investment for the six months ended June 30, 2025:Allowance for credit losses as ofDecember 31, 2024Provision for(recovery of) credit lossesrelated to loansReclassification of loans held for sale to loans held for investmentCharge-offsAllowance for credit lossesas of June 30, 2025(in thousands)New England$12,844 $(5,670)$3,292 $— $10,466 Mid-Atlantic1,857 2,665 — (466)4,056 South1,802 156 — (668)1,290 West1,967 (134)— — 1,833 Total$18,470 $(2,983)$3,292 $(1,134)$17,645 The following table presents charge-offs on loan principal by fiscal year of origination for the three months ended June 30, 2025:20252024202320222021PriorTotal(in thousands)Current period charge-offs$— $— $— $— $513 $— $513 Total$— $— $— $— $513 $— $513 The following table presents charge-offs on loan principal by fiscal year of orig