Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 18

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 There were no nonrecurring fair value adjustments to the above assets for the six months ended June 30, 2025.Carrying amounts and fair values of financial instruments at June 30, 2025 and December 31, 2024:Carrying AmountFair Value Measurement(in thousands)June 30, 2025December 31, 2024June 30, 2025December 31, 2024Level 1Cash and cash equivalents$22,474 $18,066 $22,474 $18,066 Notes payable (listed) – fixed rate debt230,239 230,239 195,598 194,810 Investment securities1,039 1,517 1,039 1,517 Level 2Lines of credit and repurchase agreements – variable rate debt40,680 73,708 40,680 73,708 Level 3Loans held for investment, net364,463 356,571 364,463 356,571 Loans held for sale, net8,830 10,970 8,830 10,970 Interest and fees receivable and due from borrowers10,782 8,918 10,782 8,918 Investments in limited liability companies48,710 53,942 48,710 53,942 Advances from borrowers4,146 4,047 4,146 4,047 Mortgage payable960 1,002 960 1,002 Loans held for investment, net/Loans held for sale, net/Real estate owned, net (Level 3): The Company utilizes third-party appraisals of collateral in determining the fair value of the underlying asset, with unobservable inputs of appraised value adjustments made by management for qualitative factors such as economic conditions and estimated liquidation expenses. The Company estimates liquidation as a selling cost percentage in connection with the asset, which typically ranges from 1-8%. 

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Table of ContentsSACHEM CAPITAL CORP.NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTSFOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025

Impact of Fair Value of Available-for-sale Securities on Other Comprehensive IncomeThe following table presents the impact of the Company’s AFS securities - debt securities on its Other Comprehensive Income (“OCI”) for the three and six months ended