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$0.82-0.7%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)


· · Years Ended
· · December 31,
· 2024 · 2023
CASH FLOWS FROM OPERATING ACTIVITIES · · ·
Net (loss) income	$(39,571)	$15,899
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Amortization of deferred financing costs	2,456	2,415
Depreciation expense	372	266
Write-off of other assets - pre-offering costs	—	477
Stock-based compensation	863	823
Provision for credit losses related to available-for-sale debt securities	—	809
Provision for credit losses related to loans held for investment	26,928	5,588
Change in valuation allowance related to loans held for sale	4,880	—
Loss on sale of Loans	21,973	—
Impairment loss on real estate owned	492	794
(Gain) loss on sale of real estate owned and property and equipment, net	(439)	88
(Gain) on equity securities	(178)	(860)
Deferred loan fees revenue	(2,697)	287
Changes in operating assets and liabilities:
Interest and fees receivable, net	2,476	(2,285)
Other assets	2,676	(3,596)
Due from borrowers, net	(1,431)	(334)
Accounts payable and accrued liabilities	1,041	374
Advances from borrowers	(6,951)	1,106
Total adjustments and operating changes	52,461	5,952
NET CASH PROVIDED BY OPERATING ACTIVITIES	12,890	21,851

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of investment securities	(7,767)	(30,415)
Proceeds from the sale of investment securities	43,888	18,120
Purchase of interests in limited liability companies	(18,271)	(13,896)
Proceeds from limited liability companies returns of capital	7,366	1,661
Proceeds from sale of real estate owned	1,624	450
Acquisitions of and improvements to real estate owned	(510)	(229)
Proceeds from sale of property and equipment	9	1,299
Purchase of property and equipment	(77)	(784)
Improvements in investment in rental real estate	(3,025)	(10,845)
Principal disbursements for loans	(134,298)	(204,885)
Principal collections on loans	190,971	167,036
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	79,910	(72,488)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from lines of credit	27,959	58,204
Repayments on lines of credit	(49,751)	—
Proceeds from repurchase agreements	19,055	14,028
Repayments of repurchase agreements	(11,808)	(30,100)
(Repayment of) proceeds from mortgage payable	(79)	331
Dividends paid on Common Shares	(16,508)	(21,933)
Dividends paid on Series A Preferred Stock	(4,304)	(3,795)
Proceeds from issuance of common shares, net of expenses	2,050	20,450
Repurchase of Common Shares	(1,489)	(226)
Proceeds from issuance of Series A Preferred Stock, net of expenses	5,706	2,563
Repayment of notes payable	(58,163)	—
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(87,332)	39,522

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	5,468	(11,115)

CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	12,598	23,713

CASH AND CASH EQUIVALENTS - END OF PERIOD	$18,066	$12,598

CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)

(in thousands)

· · · · · ·
· · Years Ended
· · December 31,
· 2024 · 2023
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION · · ·
Cash paid during the period for interest	$25,300	$26,616
Real estate acquired in connection with foreclosure of certain mortgages	$28,639	$1,750
Loans held for investment from sale of real estate owned	$989	$2,577
Loans transferred from held to investment to held for sale	$15,850	$—

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