Sachem Capital reports FY2024 net loss of $43.9M ($0.93/sh); revenue down 11% to $57.5M

Sachem Capital Corp.

Net loss attributable to common shareholders $43.9M ($0.93 per share) vs prior year net income of $12.1M ($0.27).
Total revenue $57.5M, down from $64.7M in 2023; interest income fell to $43.2M from $49.3M.
Provision for credit losses surged $21.3M to $75.3M total operating expenses; net loss includes $39.6M operational loss.
Total assets declined 21% to $492.0M; loans held for investment reduced by $130.5M.
Entered new $50M revolving credit facility with Needham Bank, replacing $65M facility.

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