Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 48

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 48
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2025 presentation. These reclassifications had no effect on net income for the three and six months ended June 30, 2024.

3.    Fair Value Measurement

The following table illustrates assets and liabilities measured at fair value on a recurring basis:Fair Value Measurement(in thousands)June 30, 2025December 31, 2024Level 1Investment securities$1,039 $1,517 Level 3Loans held for sale, net8,830 10,970 

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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

The following table illustrates assets and liabilities measured at fair value on a nonrecurring basis:Fair Value Measurement(in thousands)June 30, 2025December 31, 2024Level 3Individually evaluated loans, net of allowance for credit losses$83,564 $80,757 Real estate owned, net18,626 18,574 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,