Company: CMCT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0000908311-25-000067
Chunk: 64

Company: Creative Media & Community Trust Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 64
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,354 $6,471 $17,472 $51,176 Plus: SBA 7(a) loans receivable, subject to secured borrowings (1)1,356 Plus: Deferred capitalized costs, net1,013 Less: Current expected credit losses (2,451)Total loans receivable, net$51,094 Weighted average risk rating1.5____________________(1)The Company does not assign a risk rating to its SBA 7(a) loans receivable that are subject to secured borrowings or the government guaranteed portion of loans held for sale. The Company has determined there is no credit risk associated with these loans since the SBA has guaranteed payment of the principal.Other

As of June 30, 2025 and December 31, 2024, 99.4% and 99.5%, respectively, of the Company’s loans subject to credit risk were concentrated in the hospitality industry. As of June 30, 2025 and December 31, 2024, 94.9% and 92.3%, respectively, of the Company’s loans subject to credit risk were current. The Company classifies loans with negative characteristics in substandard categories ranging from special mention to doubtful. As of June 30, 2025 and December 31, 2024, $4.7 million and $4.8 million, respectively, of loans subject to credit risk were classified in substandard categories. 

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Table of ContentsCREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTSJune 30, 2025 (Unaudited) – (Continued)

6. OTHER INTANGIBLE ASSETS AND LIABILITIESA schedule of the Company’s intangible assets and liabilities and related accumulated amortization and accretion as of June 30, 2025 and December 31, 2024 is as follows (in thousands): June 30, 2025December 31, 2024Intangible assets:Acquired in-place leases, net of accumulated amortization of $1,812 and $5,195, respectively, with an average useful life of 2 and 6 years, respectively.$501 $610 Acquired above-market leases, net of accumulated amortization of $0 and $36, respectively, with an average useful life of 0 and 7 years, respectively.— 1 Trade name and