Sachem Capital Corp.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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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.
FY2024 · Filed Mar 31, 2025
SACH$0.82+0.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
(in thousands, except share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| | Years Ended | |||||
| · · December 31, | ||||||
| · · 2024 · · 2023 | ||||||
| Assets · · | ||||||
| Cash and cash equivalents | | $18,066 | | $12,598 | ||
| Investment securities (at fair value) | | 1,517 | | 37,776 | ||
| Loans held for investment (net of deferred loan fees of $1,950 and $4,647) | | | 375,041 | | | 494,588 |
| Allowance for credit losses | | | (18,470) | | | (7,523) |
| Loans held for investments, net of allowances for credit losses | | | 356,571 | | | 487,065 |
| Loans held for sale (net of valuation allowance of $4,880 and $0) | | | 10,970 | | | — |
| Interest and fees receivable, net | | | 3,768 | | | 8,475 |
| Due from borrowers, net | | 5,150 | | 5,597 | ||
| Real estate owned, net | | | 18,574 | | | 3,462 |
| Investments in limited liability companies | | 53,942 | | 43,036 | ||
| Investments in rental real estate, net | | 14,032 | | 10,554 | ||
| Property and equipment, net | | 3,222 | | 3,373 | ||
| Other assets | | 6,164 | | 8,956 | ||
| Total assets | | $491,976 | | $620,892 | ||
| Liabilities and Shareholders' Equity | | | | | ||
| Liabilities: | | | | | | |
| Notes payable (net of deferred financing costs of $3,713 and $6,048) | | $226,526 | | $282,353 | ||
| Repurchase agreements | | | 33,708 | | | 26,461 |
| Mortgage payable | | 1,002 | | 1,081 | ||
| Lines of credit | | | 40,000 | | | 61,792 |
| Accrued dividends payable | | | — | | | 5,144 |
| Accounts payable and accrued liabilities | | | 4,377 | | | 2,322 |
| Advances from borrowers | | 4,047 | | 10,998 | ||
| Below market lease intangible | | 665 | | 665 | ||
| Total liabilities | | | 310,325 | | | 390,816 |
| Commitments and Contingencies – Note 12 | | | | | ||
| Shareholders’ equity: | | | | | | |
| Preferred shares - $.001 par value; 5,000,000 shares authorized; 2,903,000 shares designated as Series A Preferred Stock; 2,306,748 and 2,029,923 shares of Series A Preferred Stock issued and outstanding at December 31, 2024 and December 31, 2023, respectively | | | 2 | | | 2 |
| Common stock - $.001 par value; 200,000,000 shares authorized; 46,965,306 and 46,765,483 issued and outstanding at December 31, 2024 and December 31, 2023, respectively | | 47 | | 47 | ||
| Additional paid-in capital | | | 256,956 | | | 249,826 |
| Accumulated other comprehensive income | | — | | 316 | ||
| Cumulative net earnings | | | 35,518 | | | 75,089 |
| Cumulative dividends paid | | (110,872) | | (95,204) | ||
| Total shareholders’ equity | | 181,651 | | 230,076 | ||
| Total liabilities and shareholders’ equity | | $491,976 | | $620,892 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.