Sachem Capital Corp
For the period ended Dec 31, 2023. Filed Apr 1, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 1, 2024
SACH$0.82-0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Comprehensive Income
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Years Ended | ||||||
| · · December 31, | ||||||
| · 2023 · 2022 | ||||||
| Revenue: · · · | ||||||
| Interest income from loans | | $49,265,040 | | $42,618,817 | ||
| Investment gain, net | | | 1,233,537 | | | 521,662 |
| Income from partnership investments | | | 3,521,721 | | | 1,809,564 |
| Origination and modification fees, net | | 5,940,393 | | 7,320,625 | ||
| Fee and other income | | 4,812,629 | | 2,969,117 | ||
| Unrealized gain (loss) on investment securities | | | 835,818 | | | (2,963,760) |
| Total revenue | | 65,609,138 | | 52,276,025 | ||
| | | | | | | |
| Operating costs and expenses: | | | ||||
| Interest and amortization of deferred financing costs | | 29,189,901 | | 21,549,859 | ||
| Compensation, fees and taxes | | 6,931,757 | | 5,315,455 | ||
| General and administrative expenses | | | 5,293,057 | | | 3,097,219 |
| Other expenses | | | 1,032,520 | | | 544,684 |
| (Gain) Loss on sale of real estate and property and equipment, net | | | 88,115 | | | (44,752) |
| Provision for credit losses related to loans | | | 5,571,612 | | | 105,000 |
| Provision for credit losses related to available-for-sale debt securities | | | 808,561 | | | — |
| Impairment loss | | | 794,462 | | | 799,909 |
| Total operating costs and expenses | | | 49,709,985 | | | 31,367,374 |
| Net income | | | 15,899,153 | | | 20,908,651 |
| Preferred stock dividend | | | (3,795,389) | | | (3,687,062) |
| Net income attributable to common shareholders | | | 12,103,764 | | | 17,221,589 |
| | | | | | | |
| Other comprehensive income | | | | | | |
| Unrealized gain (loss) on investment securities, net | | | 877,104 | | | (85,474) |
| Total Comprehensive income | | $12,980,868 | | $17,136,115 | ||
| Basic and diluted net income per common share outstanding: | | | | | | |
| Basic | | $0.27 | | $0.46 | ||
| Diluted | | $0.27 | | $0.46 | ||
| Weighted average number of common shares outstanding: | | | | | ||
| Basic | | 44,244,988 | | 37,741,657 | ||
| Diluted | | 44,244,988 | | 37,749,169 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.