Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 87

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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 of credit at 1.75% over the one month SOFR rate, with a floor of 2.75%. (iii) a $30,000 line of credit at 1.875% over the one month SOFR rate and (iv) a $10,000 line of credit at 3.30% over the one month SOFR rate.(5)    The weighted average coupon rate for residential mortgage warehouse borrowings was 6.21% and 6.25% at June 30, 2025 and December 31, 2024, respectively.The following table presents the amount of interest expense the Company incurred on its debt for the following periods:Three Months Ended June 30, Six Months EndedJune 30, 2025202420252024Interest expense - corporate debt$9,734 $5,887 $18,184 $11,889 Interest expense - asset based debt1,128 2,128 3,038 4,416 Total interest expense on debt$10,862 $8,015 $21,222 $16,305 

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Table of ContentsTIPTREE INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial StatementsJune 30, 2025(in thousands, except share data)

The following table presents the contractual principal payments and future maturities of the unpaid principal balance on the Company’s debt for the following periods: As of June 30, 2025Remainder of 2025$30,108 202680,380 202750,000 202874,625 2029— 2030 and thereafter275,000 Total$510,113 The following narrative is a summary of certain terms of our debt agreements for the six months ended June 30, 2025:Corporate DebtSecured Revolving Credit AgreementsAs of June 30, 2025 and December 31, 2024, a total of $50,000 and $0, respectively, was outstanding under the revolving line of credit. The maximum borrowing capacity under the agreements as of June 30, 2025 was $200,000.Secured Term Credit AgreementOn February 7, 2025, Tiptree Holdings, a subsidiary of Tiptree Inc., entered into a $75,000 senior secured credit facility due February 7, 2028. Interest is paid monthly, at an interest rate of SOFR