Company: SACH
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001682220-25-000070
Chunk: 8

Company: Sachem Capital Corp.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 of Series A Preferred Stock issued and outstanding at September 30, 2025 and December 31, 20242 2 Common shares - $0.001 par value; 200,000,000 shares authorized; 47,691,121 and 46,965,306 issued and outstanding at September 30, 2025 and December 31, 2024, respectively48 47 Additional paid-in capital257,600 256,956 Cumulative net earnings39,306 35,518 Cumulative dividends paid(121,338)(110,872)Total shareholders’ equity175,618 181,651 Total liabilities and shareholders’ equity$484,397 $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 EndedNine Months EndedSeptember 30,September 30,2025202420252024RevenuesInterest income from loans$8,326 $11,420 $23,696 $35,816 Fee income from loans1,964 1,843 5,160 6,543 Income from limited liability company investments1,098 1,495 4,128 3,907 Other investment income85 3 102 388 Other income527 24 1,131 81 Total revenues12,000 14,785 34,217 46,735 Operating expensesInterest and amortization of deferred financing costs6,565 6,836 18,798 21,278 Compensation and employee benefits2,334 1,745 5,926 5,053 General and administrative expenses1,679 2,301 4,338 4,797 Provision for credit losses related to loans held for investment812 8,096 2,788 17,964 Change in valuation allowance related to loans held for sale33 — (1,014)— Impairment loss on real estate owned185 320 185 397 Loss (gain) on sale of real estate owned and property and equipment, net312