Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 20

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 the Company's loans held for sale as of June 30, 2025:Balance as of December 31, 2024Transfers inChange in valuation allowanceTransfers out, netBalance as of June 30, 2025(in thousands)Loans held for sale, net$10,970 $— $1,047 $(3,187)$8,830 Total loans held for sale, net$10,970 $— $1,047 $(3,187)$8,830 

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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

Loan portfolioAs of June 30, 2025 and December 31, 2024, loans held for investment on non-accrual status had an outstanding principal balance of $119.6 million and $87.0 million, respectively. The non-accrual loans are inclusive of loans pending foreclosure and loans held for sale. The below table summarizes the Company’s loan portfolio by the past due status:Loans held for investment(in thousands)Current30-59 days past due60-89 days past dueGreater than 90 daysTotalAs of June 30, 2025$257,780 $6,065 $1,295 $119,599 $384,739 As of March 31, 2025$220,538 $37,617 $2,114 $107,591 $367,860 As of December 31, 2024$223,513 $49,460 $16,936 $87,082 $376,991 As of June 30, 2025, the Company’s mortgage loan portfolio includes loans with an outstanding principal balance amount up to $38.3 million with stated interest rates ranging from 6.5% to 15.0%. The default interest rate is generally 18.0%, but could be more or less depending on state usury laws and other considerations deemed relevant by the Company.As of June 30, 2025 and December 31, 2024, the Company had one borrower representing 13.1% and 14.0% of the outstanding mortgage loan portfolio, or $50.4 million and $55.0 million, respectively.Presented below