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        "text": "are  personally  guaranteed  by  the  principal(s)  of  the  borrower.  The  Company  also  makes ",
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        "from_ocr": false,
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      {
        "text": "Investor Relations ",
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      {
        "text": "Email: investors@sachemcapitalcorp.com ",
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      {
        "text": "Contact Number: (203) 433-4736 ",
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        "text": " ",
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        "text": " ",
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        "text": " ",
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        "text": " ",
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        "text": " ",
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        "text": " ",
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      {
        "text": " ",
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  },
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    "page_no": 4,
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        "text": " ",
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      {
        "text": "                                     ",
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      {
        "text": "Earnings Release - First Quarter 2026",
        "box": [
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      {
        "text": " ",
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      {
        "text": "4 ",
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        "text": " ",
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      {
        "text": "SACHEM CAPITAL REPORTS FIRST ",
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      {
        "text": "QUARTER 2026 RESULTS ",
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        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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      {
        "text": "BRANFORD, Conn., May 20, 2026 (GLOBE NEWSWIRE) ",
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      {
        "text": "-- Sachem Capital Corp. (NYSE ",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "American: SACH) ('Sachem' or the 'Company'), a real estate lender specializing in originating, ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "on real property, today announced its financial results for the quarter ended March 31, 2026.  ",
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        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "John Villano, CPA, Sachem's Chief Executive Officer, commented, 'During the first quarter, we ",
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      {
        "text": "remained  focused  on  disciplined  capital  and  liquidity  management,  continuing  the  strategic ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "priorities established last year. We made meaningful progress resolving legacy loan issues and ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "protecting  invested  capital,  positioning  the  Company  for  improved  operating  performance  and ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "future  growth.  Subsequent  to  quarter  end,  we  announced  a  transformational  combination ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "transaction  with  Industrial  Realty  Group,  which  will  add  significant  industrial  property  lease-",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "driven  revenue  while  enhancing  our  ability  to  deliver  creative  capital  solutions  to  real  estate ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "investors. We believe this combination will add meaningful scale and diversification to our asset ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "base,  positioning  the  Company  to  generate  consistent  and  attractive  risk-adjusted  returns  for ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "shareholders over time.'",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          189.62,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Recent Development ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "confidence": 1.0
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      {
        "text": "Contribution Agreement with Industrial Realty Group Global, LLC",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          403.75,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
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          75.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As  previously  announced,  the  Company  and  Industrial  Realty  Group  ('IRG'),  a  private  real ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "estate  development  and  investment  firm  specializing  in  the  acquisition,  development  and ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "management of commercial and industrial real estate throughout the United States, entered into a ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "definitive contribution agreement under which IRG will contribute 98 industrial assets from its ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "200-asset  portfolio  owned  by  IRG  and/or  its  partners  to  Sachem,  and  once  completed,  the ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "combined company will operate as IRG Realty Trust, In",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "c. ('IRGT').",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          402.07,
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          405.07,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Upon closing, IRGT is expected to own 98 industrial properties with gross real estate asset value ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "of $2.9 billion plus Sachem's approximately $470 million of total assets (as of March 31, 2026) ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "in direct and indirect mortgage loans, investments in developmental and owned real estate, and ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "other assets. IRGT is expected to have an implied enterprise value of approximately $3.4 billion, ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "positioning  IRGT as a top-10 publicly listed industrial REIT based on enterprise value.  IRGT ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "will focus on mission-critical industrial infrastructure supporting manufacturing and distribution ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "users,  and  the  assets  not  being  contributed  will  continue  to  be  owned  and  operated  by  IRG's ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "existing private business, Industrial Realty Group, LLC.  ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 5,
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    "cells": [
      {
        "text": " ",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "                                     ",
        "box": [
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      {
        "text": "Earnings Release - First Quarter 2026",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
          516.7,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "5 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The  transaction  is  designed  to  deliver  an  immediate  and  durable  strategic  reset  for  Sachem ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "shareholders.  This  will  be  achieved  by  combining  IRG's  high-quality  income",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "-producing ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "industrial real estate portfolio that is diversified geographically, by tenant and by industry, with ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "sizable  near-term  mark  to",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "-",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "market  opportunities,  with  Sachem's  established  real  estate  capital ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "solutions platform. The combination will result in a large industrial REIT with meaningful scale ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "and multiple pathways for long-term growth.   ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "For additional information on the Contribution Agreement, see the Company's Current Report on ",
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        "confidence": 1.0
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      {
        "text": "Form 8-K filed with the SEC on May 18, 2026. ",
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        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Results of operations for the quarter ended March 31, 2026",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          365.47,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net interest income was $3.6 million compared to $3.7 million in the first quarter of 2025. The ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "decrease compared to the first quarter 2025 was primarily due to $0.9 million increase in interest ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "income from loans as the Company reduced nonperforming loans during the period offset by a ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.1  million  reduction  in  interest  income  from  limited  liability  investments  as  the  Company ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "continued to reduce its limited liability company investments. Utilizing the average performing ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "loans held for investment balance for the quarter end of $270.9 million, the effective interest rate ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "on loans held for investment was 13.5%. Comparatively, using the average performing loans held ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "for investment balance for the prior year quarter of $275.1 million, the effective interest rate on ",
        "box": [
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "loans held for investment was 11.5%. ",
        "box": [
          72.024,
          373.09400000000005,
          254.93,
          383.42600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          388.714,
          75.024,
          399.046
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The Company's net interest margin was 3.9% for the first quarter, compared to 4.0% for the first ",
        "box": [
          72.024,
          404.314,
          542.7719999999999,
          414.646
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "quarter 2025. Net interest margin represents net interest income, calculated as interest income ",
        "box": [
          72.024,
          419.91400000000004,
          542.7959999999998,
          430.24600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "less interest expense, expressed as a percentage of average loans held for investment outstanding ",
        "box": [
          72.024,
          435.514,
          542.7119999999999,
          445.846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "for the applicable period. The change in net interest margin reflects both structural and cyclical ",
        "box": [
          72.024,
          451.11400000000003,
          542.6879999999995,
          461.446
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "factors.  Structurally,  refinancing  activity  during  2025  increased  the  weighted  average  cost  of ",
        "box": [
          72.024,
          466.714,
          542.8079999999999,
          477.046
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "capital. Cyclically, lower average earning assets reduced interest-earning balances. ",
        "box": [
          72.024,
          482.314,
          471.94,
          492.646
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          497.91400000000004,
          75.024,
          508.24600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Provision for credit losses related to loans held for investment was $5.4 million compared to $1.1 ",
        "box": [
          72.024,
          513.514,
          542.868,
          523.846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "million in the first quarter of 2025.  The change from the corresponding period in the prior year ",
        "box": [
          72.024,
          527.914,
          542.6999999999998,
          538.246
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "primarily  relates  to  lower  collateral  valuations  for  loans  previously  reserved  and  a  non-cash ",
        "box": [
          72.024,
          542.344,
          543.088,
          552.6759999999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "credit loss of $3.9 million related to a loan restructuring. This non-cash loss relates to the Naples, ",
        "box": [
          72.024,
          556.744,
          543.0099999999999,
          567.076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Florida loan restructuring where the Company took control of the three completed condominium ",
        "box": [
          72.024,
          571.144,
          542.796,
          581.476
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "units and entitled land for development of four additional condominium units which is treated as ",
        "box": [
          72.024,
          585.544,
          542.7480000000002,
          595.876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "a deed in lieu of foreclosure for accounting purposes.  The loan restructuring was executed with ",
        "box": [
          72.024,
          599.944,
          542.7599999999999,
          610.276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "the intent to recover the full carrying value of the mortgage note receivable on an undiscounted ",
        "box": [
          72.024,
          614.344,
          542.76,
          624.6759999999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "cash flow basis.  Due to the length of time between taking over the project and receipt of the ",
        "box": [
          72.024,
          628.744,
          542.6399999999995,
          639.076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "final cash flows from sales of the units under construction, Sachem was required to record the ",
        "box": [
          72.024,
          643.144,
          542.7959999999997,
          653.476
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "assets received on a discounted cash flow basis.  As a result,  a $3.9 million charge was incurred ",
        "box": [
          72.024,
          657.544,
          542.688,
          667.876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "in  first  quarter  2026.  It  is  believed  that  the  sales  of  the  condominium  units  provides  an ",
        "box": [
          72.024,
          671.944,
          542.7720000000003,
          682.2760000000001
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "opportunity to recover the fair value adjustment over time; however, actual recovery will depend ",
        "box": [
          72.024,
          686.34,
          542.808,
          696.672
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "on sales prices, timing, completion costs and market conditions.  ",
        "box": [
          72.024,
          700.764,
          385.03,
          711.096
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 6,
    "width": 612.0,
    "height": 792.0,
    "cells": [
      {
        "text": " ",
        "box": [
          72.024,
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          75.024,
          24.935999999999922
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                     ",
        "box": [
          259.49,
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          370.49,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Earnings Release - First Quarter 2026",
        "box": [
          370.51,
          47.307000000000016,
          516.6909999999999,
          54.87709090909084
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          516.7,
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          519.7,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6 ",
        "box": [
          303.53,
          763.85772,
          311.06,
          772.43328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total other income was $1.4 million compared to $1.5 million in the same quarter last year, with ",
        "box": [
          72.024,
          73.06399999999996,
          537.6119999999999,
          83.39599999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "underlying components shifting in composition rather than magnitude. ",
        "box": [
          72.024,
          87.46399999999994,
          413.59,
          97.79599999999994
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          101.86399999999992,
          75.024,
          112.19599999999991
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total operating costs and expenses for the first quarter of 2026 were $5.7 million compared to ",
        "box": [
          72.024,
          116.26400000000001,
          542.6639999999998,
          126.596
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3.3 million in the same quarter last year. The primary change was related to a one time rise in ",
        "box": [
          72.024,
          130.664,
          542.7119999999995,
          140.99599999999998
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "expenses. ",
        "box": [
          72.024,
          145.06399999999996,
          121.34,
          155.39599999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          159.46399999999994,
          75.024,
          169.79599999999994
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          90.024,
          173.86399999999992,
          94.224,
          184.1959999999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          94.224,
          173.44399999999996,
          97.56,
          184.2071381215469
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Compensation and employee benefits were $2.1 million, compared to $1.8 million in the ",
        "box": [
          108.02,
          173.86399999999992,
          542.7680000000001,
          184.1959999999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "same  quarter  last  year,  reflecting  strategic  additions  to  personnel  during  2025  and ",
        "box": [
          108.02,
          188.264,
          542.7680000000001,
          198.596
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "performance-based  compensation  including  stock-based  compensation  as  management ",
        "box": [
          108.02,
          202.664,
          542.9619999999998,
          212.99599999999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "continues to align staffing levels with portfolio scale and operational complexity. ",
        "box": [
          108.02,
          217.06399999999996,
          499.66,
          227.39599999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          90.024,
          231.49399999999991,
          94.224,
          241.8259999999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          94.224,
          231.07399999999996,
          97.56,
          241.8371381215469
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "General  and  administrative  expenses  were  $2.0  million,  versus  $1.4  million  from  the ",
        "box": [
          108.02,
          231.49399999999991,
          542.7439999999999,
          241.8259999999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "same quarter last year, primarily due to additional costs associated with investments in ",
        "box": [
          108.02,
          247.09399999999994,
          542.9540000000001,
          257.42599999999993
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "developmental real estate, real estate owned, increased external audit fees and increased ",
        "box": [
          108.02,
          262.69399999999996,
          542.7199999999996,
          273.02599999999995
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "director fees. ",
        "box": [
          108.02,
          278.294,
          173.66,
          288.62600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          90.024,
          293.894,
          94.224,
          304.226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          94.224,
          293.474,
          97.56,
          304.23713812154693
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Transaction expenses in the current year are associated with the contribution transaction ",
        "box": [
          108.02,
          293.894,
          542.7799999999996,
          304.226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "with IRG mentioned above and as more particularly described in our recent SEC filings. ",
        "box": [
          108.02,
          308.29400000000004,
          535.06,
          318.62600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          90.024,
          322.694,
          94.224,
          333.026
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          94.224,
          322.274,
          97.56,
          333.03713812154695
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Recovery  of  non-cash  impairment  loss  on  real  estate  totaled  $0.1  million  related  to ",
        "box": [
          108.02,
          322.694,
          542.7979999999999,
          333.026
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "specific property-level valuation adjustments based on updated market data and revised ",
        "box": [
          108.02,
          337.09400000000005,
          542.8399999999998,
          347.42600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "liquidation timelines. ",
        "box": [
          108.02,
          351.494,
          213.05,
          361.826
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          90.024,
          365.894,
          94.224,
          376.226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          94.224,
          365.474,
          97.56,
          376.23713812154693
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Gain on sale of investments in developmental real estate, real estate owned and property ",
        "box": [
          108.02,
          365.894,
          542.732,
          376.226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and equipment, net was $0.2 million, reflecting gains realized on the disposition of select ",
        "box": [
          108.02,
          381.514,
          542.7800000000002,
          391.846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "real ",
        "box": [
          108.02,
          397.11400000000003,
          128.87599999999998,
          407.446
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "estate  assets  and  developmental  projects  driven  by  improved  value  creation ",
        "box": [
          133.80799999999996,
          397.11400000000003,
          542.7919999999999,
          407.446
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "execution relative to carrying value and successful asset repositioning, whereas the same ",
        "box": [
          108.02,
          412.714,
          542.8039999999999,
          423.046
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "quarter last year included more limited disposition activity. ",
        "box": [
          108.02,
          428.314,
          394.27,
          438.646
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          443.91400000000004,
          75.024,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net loss attributable to common shareholders for the first quarter of 2026 was $7.2 million, or ",
        "box": [
          72.024,
          459.514,
          542.6999999999998,
          469.846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.15  per  common  share,  compared  to  net  loss  attributable  to  common  shareholders  of  $0.2 ",
        "box": [
          72.024,
          475.11400000000003,
          542.7120000000001,
          485.446
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "million, or $0.00 per common share for the first quarter of 2025. ",
        "box": [
          72.024,
          490.714,
          384.31,
          501.046
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
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          74.784,
          515.76472
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Balance Sheet",
        "box": [
          72.024,
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          142.99200000000002,
          530.8794545454546
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          143.06,
          520.5820000000001,
          146.06,
          530.9289090909091
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          146.06,
          520.7860000000001,
          149.06,
          530.8794545454546
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          536.2239999999999,
          75.024,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "At quarter end, total assets were $473.3 million compared to $460.0 million as of December 31, ",
        "box": [
          72.024,
          551.824,
          542.676,
          562.156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025 and total liabilities were $307.7 million compared to $285.1 million as of December 31, ",
        "box": [
          72.024,
          567.424,
          542.6759999999999,
          577.756
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025. ",
        "box": [
          72.024,
          583.024,
          101.784,
          593.356
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          598.624,
          75.024,
          608.956
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total indebtedness at quarter end was $298.3 million. This includes $171.7 million of unsecured ",
        "box": [
          72.024,
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          542.8080000000002,
          624.556
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "notes payable (net of $1.6 million of deferred financing costs), $96.7 million of senior secured ",
        "box": [
          72.024,
          629.824,
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          640.156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "notes payable (net of $3.3 million of deferred financing costs), $29.0 million outstanding on a ",
        "box": [
          72.024,
          645.424,
          542.7959999999999,
          655.756
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$50.0 million revolving credit facility and $0.9 million of outstanding principal on a loan secured ",
        "box": [
          72.024,
          661.024,
          542.82,
          671.356
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "by a mortgage on the Company's office building.",
        "box": [
          72.024,
          676.624,
          307.65600000000006,
          686.956
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          307.85,
          677.28928,
          310.61,
          686.79472
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
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          75.024,
          702.576
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        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 7,
    "width": 612.0,
    "height": 792.0,
    "cells": [
      {
        "text": " ",
        "box": [
          72.024,
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          75.024,
          24.935999999999922
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                     ",
        "box": [
          259.49,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Earnings Release - First Quarter 2026",
        "box": [
          370.51,
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          516.6909999999999,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          516.7,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7 ",
        "box": [
          303.53,
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          311.06,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total shareholders' equity as of March 31, 2026 was $165.6 million compared to $174.9 million ",
        "box": [
          72.024,
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          542.748,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "as of December 31, 2025.   ",
        "box": [
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          204.17,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book value per common share ",
        "box": [
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          225.77,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book value per common share as of March 31, 2026, was $2.25, a decrease of $0.21 from book ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "value per common share as of December 31, 2025 of $2.46. This change was primarily due to ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "cash  dividends  declared  and  paid  for  the  three  months  ended  March  31,  2026  on  issued  and ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "outstanding  common  shares  and  Series A  Preferred  Stock  totaling  $3.5  million,  or  $0.07  per ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "common share, and net loss for the three months ended March 31, 2026 of $7.2 million, or $0.15 ",
        "box": [
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        "confidence": 1.0
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      {
        "text": "per common share. ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "This quarter's net loss impacting the book value per common share was materially driven by 1) ",
        "box": [
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          270.626
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "the  non-cash  discounted  cash  flow  fair  value  adjustment  on  loan  restructuring  recorded  in ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "provision  for  credit  losses  related  to  loans  held  for  investment  of  $3.9  million,  or  $0.08  per ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "common share,  and 2) contribution transactional expenses of $1.6 million or $0.03 per common ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "share.   The aggregate impact of both events is $5.5 million, or $0.11 per common share of book ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "value decline from year end. ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividends ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The  Company  currently  operates  and  qualifies  as  a  Real  Estate  Investment  Trust  (REIT)  for ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "federal  income  tax  purposes  and  intends  to  continue  to  qualify  and  operate  as  a  REIT.  Under ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "federal income tax rules, a REIT is required to distribute a minimum of 90% of taxable income ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "each year to its shareholders, and the Company intends to comply with this requirement for the ",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "current year.  ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "On March 30, 2026, the Company paid a dividend of $0.484375 per share to the holders of its ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Series A Preferred Stock and $0.05 per share to its common shareholders of record on March 15, ",
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        "confidence": 1.0
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      {
        "text": "2026. ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "About Sachem Capital Corp ",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Sachem is a mortgage REIT that specializes in originating, underwriting, funding, servicing, and ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "managing a portfolio of loans secured by first mortgages on real property. It offers short-term ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(i.e.,  one  to  three  years),  secured,  nonbanking  loans  to  real  estate  investors  to  fund  their ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "acquisition, ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "renovation, ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "development, ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "rehabilitation, ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "or ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "improvement ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "of ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "properties. ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Company's primary underwriting  criteria  is  a  conservative  loan  to  value  ratio.  The  properties ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "securing the loans are generally classified as residential or commercial real estate and, typically, ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "are held for resale or investment. Loans are secured by mortgage liens on real estate and often ",
        "box": [
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    ]
  },
  {
    "page_no": 8,
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    "cells": [
      {
        "text": " ",
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        "confidence": 1.0
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      {
        "text": "                                     ",
        "box": [
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      {
        "text": "Earnings Release - First Quarter 2026",
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      {
        "text": " ",
        "box": [
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      {
        "text": "8 ",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "are  personally  guaranteed  by  the  principal(s)  of  the  borrower.  The  Company  also  makes ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "opportunistic real estate purchases apart from its lending activities. ",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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      },
      {
        "text": "Forward Looking Statements",
        "box": [
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      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "This  press  release  includes  forward-looking  statements.  These  forward-looking  statements ",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "generally  can  be  identified  by  phrases  such  as  'anticipate,'  'estimate,'  'expect,'  'project,' ",
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        "confidence": 1.0
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      {
        "text": "'plan,' ",
        "box": [
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        "text": "'seek,' ",
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        "text": "'intend,' ",
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      {
        "text": "'believe,' ",
        "box": [
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        "confidence": 1.0
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      {
        "text": "'may,'  'might,' ",
        "box": [
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        "confidence": 1.0
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      {
        "text": "'will,' ",
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        "text": "'should,' ",
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      {
        "text": "'could,' ",
        "box": [
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        "confidence": 1.0
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      {
        "text": "'likely,' ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "'continue,' 'outlook,' 'design,' and the negative of such terms and other words and terms of ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "similar  expressions  are  intended  to  identify  forward-looking  statements.  Such  forward-looking ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "statements include, but are not limited to, statements about the proposed transaction with IRG ",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(the 'Transaction') and expected timing, terms, structure and completion thereof; the expected ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ownership,  governance,  management,  business  strategy  and  market  position  of  the  combined ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "company;  the  expected  benefits  of  the  proposed  Transaction,  including  anticipated  future ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "financial and operating results, accretion, growth rates, revenue, NOI, cash flow generation, cost-",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of-capital improvements, liquidity, deleveraging, leverage targets and risk-adjusted returns; the ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "expected  gross  asset  value,  enterprise  value,  portfolio  composition,  industrial  REIT  ranking, ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "mark-to-market rent growth, acquisition and development opportunities and lending strategy of ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "the  combined  company;  and  Sachem's,  IRG's  and  the  combined  company's  plans,  objectives, ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "expectations and intentions. These statements are based on current expectations, estimates and ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "projections about the industry, markets in which Sachem and IRG operate, management's beliefs, ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "assumptions  made  by  management  and  the  transactions  described  in  this  press  release.  While ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Sachem's management believes the assumptions underlying the forward",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-looking statements and ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "information  are  reasonable,  such  information  is  necessarily  subject  to  uncertainties  and  may ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "involve  certain  risks,  many  of  which  are  difficult  to  predict  and  are  beyond  management's ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "control. These risks include, but are not limited to: (1) the occurrence of any event, change or ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "other circumstances that could give rise to the termination of the contribution agreement; (2) the ",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "nature,  cost  and  outcome  of  any  litigation  and  other  legal  proceedings,  including  any  such ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "proceedings  related  to  the  Transaction  that  may  be  instituted  against  the  parties  and  others ",
        "box": [
          72.024,
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          542.7119999999998,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "following  announcement  of  the  Transaction;  (3)  the  inability  to  consummate  the  Transaction ",
        "box": [
          72.024,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "within the anticipated time period, or at all, due to any reason, including the failure to obtain the ",
        "box": [
          72.024,
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          542.7,
          497.68600000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "requisite  shareholder  approval,  failure  to  obtain  required  regulatory  approvals,  the  failure  to ",
        "box": [
          72.024,
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          542.7839999999998,
          511.12600000000003
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "obtain debt financing on the terms  or timing expected, or at all, or the failure to satisfy other ",
        "box": [
          72.024,
          514.234,
          542.8699999999999,
          524.566
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "conditions  to  completion  of  the  Transaction;  (4)  risks  that  the  proposed  Transaction  disrupts ",
        "box": [
          72.024,
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          538.006
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "current  plans  and  operations  of  Sachem  or  diverts  management's  attention  from  its  ongoing ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "business; (5) the ability to recognize the anticipated benefits of the Transaction; (6) the amount ",
        "box": [
          72.024,
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          564.9159999999999
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of  the  costs,  fees,  expenses  and  charges  related  to  the  Transaction;  (7)  the  risk  that  the ",
        "box": [
          72.024,
          568.144,
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          578.476
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "contribution  agreement  may  be  terminated  in  circumstances  requiring  Sachem  to  pay  a ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "termination fee; (8) the effect of the announcement of the Transaction on the ability of Sachem to ",
        "box": [
          72.024,
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          605.356
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "retain  and  hire  key  personnel  and  maintain  relationships  with  its  borrowers  and  others  with ",
        "box": [
          72.024,
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          618.796
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "whom  it  does  business;  (9)  the  effect  of  the  announcement  of  the  Transaction  on  Sachem's ",
        "box": [
          72.024,
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          632.236
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "operating  results  and  business  generally;  (10)  the  risk  that  Sachem's  stock  price  may  decline ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "significantly  if  the  Transaction  is  not  consummated;  and  (11)  the  other  risks  and  important ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "factors  contained  and  identified  in  S",
        "box": [
          72.024,
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          255.75600000000006,
          672.556
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "achem's  filings  with  the  SEC,  such  as  Sachem's Annual ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Report on Form 10-K for the fiscal year ended December 31, 2025 and its Quarterly Report on ",
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          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Form 10-",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q for the quarter ended March 31, 2026, as well as Sachem's subsequent reports on ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 9,
    "width": 612.0,
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    "cells": [
      {
        "text": " ",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "                                     ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Earnings Release - First Quarter 2026",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Form 10-K, Form 10-Q or Form 8-K filed from time to time, any of which could cause actual ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "results to differ materially from the forward-looking statements in this press release. ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
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          75.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "There  can  be  no  assurance  that  the  Transaction  will  in  fact  be  consummated.  We  caution ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "investors not to unduly rely on any forward-looking statements. The forward-looking statements ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "speak only as of the date of this press release. Sachem undertakes no obligation or duty to update ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "or  revise  any  of  these  forward-looking  statements  after  the  date  of  this  press  release,  nor  to ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "conform prior statements to actual results or revised expectations, and Sachem does not intend to ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "do so. ",
        "box": [
          72.024,
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          103.7,
          191.39599999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
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          75.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Additional Information and Where to Find It",
        "box": [
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          303.54,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          303.65,
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          306.65,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
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          75.36,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "This press release does not constitute a solicitation of any vote or approval or an offer to sell or ",
        "box": [
          72.024,
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          245.54599999999994
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "the solicitation of an offer to buy any securities in connection with the Transaction. In connection ",
        "box": [
          72.024,
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          258.986
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "with the proposed Transaction, Sachem will file a proxy statement (the 'Proxy Statement') with ",
        "box": [
          72.024,
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          272.42599999999993
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "the Securities and Exchange Commission (the 'SEC'), which Sachem will furnish, together with ",
        "box": [
          72.024,
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          285.86600000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "any  other  relevant  documents,  to  its  shareholders  in  connection  with  the  special  meeting  of ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Sachem shareholders to vote on the Transaction (the 'Sachem Shareholder Meeting'). This press ",
        "box": [
          72.024,
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          312.74600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "release is not a substitute for the Proxy Statement or any other document that Sachem may file ",
        "box": [
          72.024,
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          326.18600000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "with the SEC or send to its shareholders in connection with the Transaction. BEFORE MAKING ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ANY  VOTING  DECISION,  WE  URGE  SHAREHOLDERS  TO  READ  THE  PROXY ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "STATEMENT (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY ",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "WHEN THEY  BECOME AVAILABLE,  BECAUSE  THEY  WILL  CONTAIN  IMPORTANT ",
        "box": [
          72.024,
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          393.526
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "INFORMATION ABOUT SACHEM AND THE PROPOSED TRANSACTION. The proposals ",
        "box": [
          72.024,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "for the Transaction will be made solely through the Proxy Statement. In addition, a copy of the ",
        "box": [
          72.024,
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          420.406
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Proxy Statement (when it becomes available) may be obtained free of charge from the Investor ",
        "box": [
          72.024,
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          542.6879999999994,
          433.846
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Relations  Department  of  Sachem  at  Investor  Relations,  568  East  Main  Street,  Branford,  CT ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "06405. Security holders also will be able to obtain, free of charge, copies of the Proxy Statement ",
        "box": [
          72.024,
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          542.688,
          460.726
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and  any  other  documents  filed  by  Sachem  with  the  SEC  in  connection  with  the  proposed ",
        "box": [
          72.024,
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          542.748,
          474.166
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Transaction ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "at ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "the ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SEC's ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "website ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "at ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "http://www.sec.gov ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "at ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Sachem's ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "website ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "at ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "https://www.sachemcapitalcorp.com/. ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Participants in the Solicitation",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          227.81,
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          230.81,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
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          75.36,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The  directors  and  executive  officers  of  Sachem,  and  certain  directors,  managers,  officers  and ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "other members of management of IRG and its affiliates, may be deemed to be participants in the ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "solicitation of proxies in connection with the approval of the proposed Transaction. Information ",
        "box": [
          72.024,
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          582.556
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "regarding Sachem's directors and executive officers and their respective interests in Sachem by ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "security holdings or otherwise is available in its most recent Annual Report on Form 10-K filed ",
        "box": [
          72.024,
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          609.4359999999999
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "with the SEC (available here). Additional information regarding the interests of such potential ",
        "box": [
          72.024,
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          622.876
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "participants is or will be included in the Proxy Statement and other relevant materials to be filed ",
        "box": [
          72.024,
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          636.316
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "with  the  SEC  when  they  become  available,  including  in  connection  with  the  solicitation  of ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "proxies to approve the proposed Transaction. ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investor & Media Contact:",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          210.77,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Email: investors@sachemcapitalcorp.com ",
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        "from_ocr": false,
        "confidence": 1.0
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    ]
  },
  {
    "page_no": 10,
    "width": 612.0,
    "height": 792.0,
    "cells": [
      {
        "text": " ",
        "box": [
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          75.024,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "                                     ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Earnings Release - First Quarter 2026",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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          519.7,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "10 ",
        "box": [
          301.01,
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          313.46000000000004,
          772.43328
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SACHEM CAPITAL CORP. ",
        "box": [
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          369.76,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CONDENSED CONSOLIDATED BALANCE SHEETS ",
        "box": [
          186.74,
          86.03707999999995,
          427.84000000000003,
          94.41464727272728
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(in thousands, except share data) ",
        "box": [
          235.97,
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          378.52,
          106.41464727272728
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          306.05,
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          309.05,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          61.2,
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          64.2,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "March 31, 2026",
        "box": [
          412.63,
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          465.5733999999998,
          133.57953454545452
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          465.58,
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          468.58,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.74,
          127.06399999999996,
          479.74,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "December 31, 2025",
        "box": [
          483.94,
          126.81691999999998,
          548.5253199999996,
          133.57953454545452
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          548.5,
          123.94399999999996,
          551.5,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          61.2,
          139.18399999999997,
          64.2,
          149.51599999999996
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(unaudited)",
        "box": [
          419.11,
          138.93692,
          459.18940000000003,
          145.69953454545453
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          459.07,
          136.06399999999996,
          462.07,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.74,
          139.18399999999997,
          479.74,
          149.51599999999996
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(audited)",
        "box": [
          500.62,
          138.93692,
          531.8232400000002,
          145.69953454545453
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          531.7,
          136.06399999999996,
          534.7,
          146.39599999999996
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Assets ",
        "box": [
          61.2,
          149.62400000000002,
          90.384,
          159.95600000000002
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "   ",
        "box": [
          473.98,
          151.18399999999997,
          484.42,
          161.51599999999996
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cash and cash equivalents ",
        "box": [
          65.784,
          162.34399999999994,
          174.02,
          172.67599999999993
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          406.15,
          163.75771999999995,
          413.68,
          172.33327999999995
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "11,565     $ ",
        "box": [
          443.23,
          163.75771999999995,
          488.83,
          172.33327999999995
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10,924  ",
        "box": [
          522.1,
          162.34399999999994,
          555.94,
          172.67599999999993
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment securities (at fair value) ",
        "box": [
          65.784,
          175.06399999999996,
          210.53,
          185.39599999999996
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
          176.47771999999998,
          408.64,
          185.05327999999997
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "795      ",
        "box": [
          455.71,
          176.47771999999998,
          483.79,
          185.05327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "936  ",
        "box": [
          534.7,
          175.06399999999996,
          555.94,
          185.39599999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans held for investment (net of deferred loan fees of $2,225 and $2,230) ",
        "box": [
          61.2,
          189.19772,
          362.68,
          197.77328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
          189.31772,
          408.64,
          197.89328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "353,610      ",
        "box": [
          438.31,
          189.31772,
          483.79,
          197.89328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "375,188  ",
        "box": [
          517.18,
          187.904,
          555.94,
          198.236
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Allowance for credit losses ",
        "box": [
          65.784,
          202.06399999999996,
          177.86,
          212.39599999999996
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.99,
          203.47771999999998,
          409.48,
          212.05327999999997
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(12,401)     ",
        "box": [
          439.75,
          203.47771999999998,
          484.99,
          212.05327999999997
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(11,510) ",
        "box": [
          519.1,
          202.06399999999996,
          555.94,
          212.39599999999996
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans held for investment, net  ",
        "box": [
          65.784,
          214.784,
          193.22,
          225.11599999999999
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
          216.19772,
          408.64,
          224.77328
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "341,209      ",
        "box": [
          438.31,
          216.19772,
          483.79,
          224.77328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "363,678  ",
        "box": [
          517.18,
          214.784,
          555.94,
          225.11599999999999
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest and fees receivable (net of allowance of $922 and $2,598) ",
        "box": [
          61.2,
          228.94772,
          328.34000000000003,
          237.52328
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
          229.06772,
          408.64,
          237.64328
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,808      ",
        "box": [
          448.27,
          229.06772,
          483.79,
          237.64328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,116  ",
        "box": [
          527.14,
          227.654,
          555.94,
          237.986
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Due from borrowers (net of allowance of $1,791 and $1,084) ",
        "box": [
          61.2,
          243.22771999999998,
          308.42,
          251.80327999999997
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
          243.34771999999998,
          408.64,
          251.92327999999998
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,573      ",
        "box": [
          448.27,
          243.34771999999998,
          483.79,
          251.92327999999998
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,978  ",
        "box": [
          527.14,
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          555.94,
          252.26599999999996
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate owned (net of impairment of $798 and $1,110) ",
        "box": [
          61.2,
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          297.14,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
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          408.64,
          266.20327999999995
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16,022      ",
        "box": [
          443.23,
          257.62771999999995,
          483.79,
          266.20327999999995
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16,402  ",
        "box": [
          522.1,
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          555.94,
          266.54599999999994
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investments in limited liability companies ",
        "box": [
          65.784,
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          237.17,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
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          408.64,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "35,235      ",
        "box": [
          443.23,
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          483.79,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "39,132  ",
        "box": [
          522.1,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investments in developmental real estate, net ",
        "box": [
          65.784,
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          248.81,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "46,013      ",
        "box": [
          443.23,
          284.50772,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9,719  ",
        "box": [
          527.14,
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          555.94,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Property and equipment, net ",
        "box": [
          65.784,
          295.814,
          182.06,
          306.146
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,088      ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,160  ",
        "box": [
          527.14,
          295.814,
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          306.146
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other assets ",
        "box": [
          65.784,
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          117.38,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,961      ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,002  ",
        "box": [
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          555.94,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total assets ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          406.15,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "473,269     $ ",
        "box": [
          438.31,
          322.78772,
          488.83,
          331.36328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "460,047  ",
        "box": [
          517.18,
          321.374,
          555.94,
          331.706
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          70.224,
          336.014,
          73.224,
          346.346
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "   ",
        "box": [
          473.98,
          336.014,
          484.42,
          346.346
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Liabilities and Shareholders' Equity",
        "box": [
          61.2,
          345.22772,
          205.00247999999988,
          353.80328
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          205.13,
          343.814,
          208.13,
          354.146
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "   ",
        "box": [
          473.98,
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          484.42,
          355.706
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Liabilities: ",
        "box": [
          61.2,
          358.09400000000005,
          107.54,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "   ",
        "box": [
          473.98,
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          484.42,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Notes payable (net of deferred financing costs of $1,562 and $1,905) ",
        "box": [
          61.2,
          373.78772,
          339.28000000000003,
          382.36328
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "171,692     $ ",
        "box": [
          438.31,
          373.78772,
          488.83,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "171,349  ",
        "box": [
          517.18,
          372.374,
          555.94,
          382.706
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior secured notes payable (net of deferred financing costs of $3,298 and $3,427) ",
        "box": [
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          398.68,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
          387.96772,
          408.64,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "96,702      ",
        "box": [
          443.23,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "86,573  ",
        "box": [
          522.1,
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          555.94,
          396.886
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage payable ",
        "box": [
          65.784,
          399.394,
          141.26,
          409.726
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
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          408.64,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "895      ",
        "box": [
          455.71,
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          483.79,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "917  ",
        "box": [
          534.7,
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          409.726
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Lines of credit ",
        "box": [
          65.784,
          411.754,
          127.1,
          422.086
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
          406.15,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "29,000    ",
        "box": [
          443.23,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19,000  ",
        "box": [
          522.1,
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          555.94,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accounts payable and accrued liabilities ",
        "box": [
          65.784,
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          230.45,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
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          408.64,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,011      ",
        "box": [
          448.27,
          428.64772,
          483.79,
          437.22328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,255  ",
        "box": [
          527.14,
          427.23400000000004,
          555.94,
          437.56600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Advances from borrowers ",
        "box": [
          65.784,
          439.954,
          173.18,
          450.286
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
          441.36771999999996,
          408.64,
          449.94327999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,360      ",
        "box": [
          448.27,
          441.36771999999996,
          483.79,
          449.94327999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,016  ",
        "box": [
          527.14,
          439.954,
          555.94,
          450.286
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total liabilities ",
        "box": [
          70.224,
          452.79400000000004,
          133.34,
          463.12600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
          454.20772,
          408.64,
          462.78328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "307,660      ",
        "box": [
          438.31,
          454.20772,
          483.79,
          462.78328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "285,110  ",
        "box": [
          517.18,
          452.79400000000004,
          555.94,
          463.12600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          70.224,
          467.074,
          73.224,
          477.406
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.27,
          467.074,
          409.27,
          477.406
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          477.94,
          467.074,
          484.42,
          477.406
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitments and Contingencies - Note 14 ",
        "box": [
          61.2,
          475.23400000000004,
          237.89,
          485.56600000000003
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.27,
          476.79400000000004,
          409.27,
          487.12600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          477.94,
          476.79400000000004,
          484.42,
          487.12600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          61.2,
          489.514,
          64.2,
          499.846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.27,
          489.514,
          409.27,
          499.846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          477.94,
          489.514,
          484.42,
          499.846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Shareholders' equity:",
        "box": [
          61.2,
          499.20772,
          146.30820000000003,
          507.78328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          146.3,
          497.79400000000004,
          149.3,
          508.12600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.27,
          499.35400000000004,
          409.27,
          509.68600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          477.94,
          499.35400000000004,
          484.42,
          509.68600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Preferred shares - $0.001 par value; 5,000,000 shares authorized; 3,332,000 shares ",
        "box": [
          61.2,
          511.92771999999997,
          393.74804000000046,
          520.5032799999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "designated as Series A Preferred Stock; 2,312,758 shares of Series A Preferred Stock ",
        "box": [
          61.2,
          521.88772,
          401.6925600000001,
          530.4632799999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "issued and outstanding at March 31, 2026 and December 31, 2025, respectively ",
        "box": [
          61.2,
          531.96772,
          382.12,
          540.54328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
          531.48772,
          408.64,
          540.06328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2    ",
        "box": [
          465.82,
          531.48772,
          483.79,
          540.06328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2  ",
        "box": [
          544.66,
          530.0740000000001,
          555.94,
          540.406
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common Shares - $0.001 par value; 200,000,000 shares authorized; 47,955,647 and ",
        "box": [
          61.2,
          545.67772,
          399.82040000000035,
          554.25328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47,684,955 issued and outstanding at March 31, 2026 and December 31, 2025, ",
        "box": [
          61.2,
          555.63772,
          378.69988000000023,
          564.2132799999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "respectively ",
        "box": [
          61.2,
          565.71772,
          112.07,
          574.29328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
          565.23772,
          408.64,
          573.81328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "48    ",
        "box": [
          460.75,
          565.23772,
          483.79,
          573.81328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "48  ",
        "box": [
          539.62,
          563.824,
          555.94,
          574.156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Additional paid-in capital ",
        "box": [
          61.2,
          577.984,
          166.94,
          588.316
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
          579.39772,
          408.64,
          587.97328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "258,172      ",
        "box": [
          438.31,
          579.39772,
          483.79,
          587.97328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "257,905  ",
        "box": [
          517.18,
          577.984,
          555.94,
          588.316
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cumulative net earnings ",
        "box": [
          61.2,
          590.4639999999999,
          162.02,
          600.796
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
          593.79772,
          408.64,
          602.37328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "35,749    ",
        "box": [
          443.23,
          593.79772,
          483.79,
          602.37328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "41,826  ",
        "box": [
          522.1,
          592.384,
          555.94,
          602.716
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cumulative dividends paid ",
        "box": [
          61.2,
          605.5840000000001,
          171.98,
          615.9159999999999
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.99,
          608.91772,
          409.48,
          617.49328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(128,362)   ",
        "box": [
          434.83,
          608.91772,
          484.75,
          617.49328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(124,844) ",
        "box": [
          513.82,
          607.504,
          555.94,
          617.836
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total shareholders' equity",
        "box": [
          74.784,
          622.47772,
          178.31819999999996,
          631.05328
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          178.34,
          621.064,
          181.34,
          631.396
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          406.15,
          622.47772,
          408.64,
          631.05328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "165,609      ",
        "box": [
          438.31,
          622.47772,
          483.79,
          631.05328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "174,937  ",
        "box": [
          517.18,
          621.064,
          555.94,
          631.396
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total liabilities and shareholders' equity",
        "box": [
          70.224,
          635.31772,
          230.36087999999987,
          643.89328
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          230.45,
          633.904,
          233.45,
          644.236
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          406.15,
          635.31772,
          413.68,
          643.89328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "473,269     $ ",
        "box": [
          438.31,
          635.31772,
          488.83,
          643.89328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "460,047  ",
        "box": [
          517.18,
          633.904,
          555.94,
          644.236
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          652.504,
          75.024,
          662.836
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          666.904,
          75.024,
          677.236
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          681.304,
          75.024,
          691.636
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          695.724,
          75.024,
          706.056
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        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 11,
    "width": 612.0,
    "height": 792.0,
    "cells": [
      {
        "text": " ",
        "box": [
          72.024,
          14.603999999999928,
          75.024,
          24.935999999999922
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                     ",
        "box": [
          259.49,
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          370.49,
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        "from_ocr": false,
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      {
        "text": "Earnings Release - First Quarter 2026",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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          519.7,
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        "from_ocr": false,
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      {
        "text": "11 ",
        "box": [
          301.25,
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          772.43328
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SACHEM CAPITAL CORP. ",
        "box": [
          244.73,
          73.07708000000002,
          369.76,
          81.45464727272736
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) ",
        "box": [
          130.22,
          85.07708000000002,
          484.39,
          93.45464727272736
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(in thousands, except share and per share data) ",
        "box": [
          205.49,
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          409.12,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          306.05,
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          308.54,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          123.70399999999995,
          75.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Three Months Ended",
        "box": [
          471.46,
          124.05691999999999,
          544.2782799999998,
          130.81953454545453
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.18,
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          547.18,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          136.42399999999998,
          75.024,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "March 31,",
        "box": [
          490.3,
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          525.2820399999999,
          143.53953454545456
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          525.22,
          133.904,
          528.22,
          144.236
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          149.264,
          75.024,
          159.596
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2026",
        "box": [
          470.5,
          149.61691999999994,
          486.5156799999999,
          156.37953454545448
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          486.46,
          146.74399999999991,
          489.46,
          157.0759999999999
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          507.82,
          149.264,
          510.82,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025",
        "box": [
          529.18,
          149.61691999999994,
          545.1956799999998,
          156.37953454545448
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          545.14,
          146.74399999999991,
          548.14,
          157.0759999999999
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest income from loans ",
        "box": [
          72.024,
          160.54399999999998,
          182.54,
          170.87599999999998
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          453.67,
          161.95772,
          461.2,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,754     $ ",
        "box": [
          479.26,
          161.95772,
          519.79,
          170.53328
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7,887  ",
        "box": [
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          566.62,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest income from limited liability company investments ",
        "box": [
          72.024,
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          312.77,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          453.67,
          176.95772,
          456.16,
          185.53328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "858     ",
        "box": [
          486.82,
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          514.75,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,942  ",
        "box": [
          537.82,
          175.54399999999998,
          566.62,
          185.87599999999998
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest expense and amortization of deferred financing costs ",
        "box": [
          72.024,
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          319.13,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          454.51,
          191.95772,
          457.0,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(6,059)    ",
        "box": [
          475.9,
          191.95772,
          515.59,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(6,094) ",
        "box": [
          534.46,
          190.54399999999998,
          566.62,
          200.87599999999998
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net interest income ",
        "box": [
          72.024,
          205.54399999999998,
          153.38,
          215.87599999999998
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          453.67,
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          456.16,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,553     ",
        "box": [
          479.26,
          206.95772,
          514.75,
          215.53328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,735  ",
        "box": [
          537.82,
          205.54399999999998,
          566.62,
          215.87599999999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Provision for credit losses related to loans held for investment ",
        "box": [
          72.024,
          220.54399999999998,
          323.09,
          230.87599999999998
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          454.51,
          221.95772,
          457.0,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(5,372)    ",
        "box": [
          475.9,
          221.95772,
          515.59,
          230.53328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,052) ",
        "box": [
          534.46,
          220.54399999999998,
          566.62,
          230.87599999999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Change in valuation allowance related to loans held for sale ",
        "box": [
          72.024,
          235.57399999999996,
          314.21,
          245.90599999999995
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          453.67,
          236.98771999999997,
          456.16,
          245.56327999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          491.86,
          236.98771999999997,
          501.82,
          245.56327999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "       ",
        "box": [
          501.82,
          236.98771999999997,
          514.75,
          245.56327999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4  ",
        "box": [
          555.34,
          236.98771999999997,
          566.11,
          245.56327999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net interest (loss) income after provision for credit losses related to loans held for investment ",
        "box": [
          72.024,
          254.02771999999993,
          447.9044400000006,
          262.6032799999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and changes in valuation allowance related to loans held for sale ",
        "box": [
          72.024,
          262.57399999999996,
          332.71,
          272.90599999999995
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          454.51,
          263.98771999999997,
          457.0,
          272.56327999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,819)   ",
        "box": [
          475.9,
          263.98771999999997,
          514.75,
          272.56327999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,687  ",
        "box": [
          537.82,
          262.57399999999996,
          566.62,
          272.90599999999995
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other income ",
        "box": [
          72.024,
          276.73400000000004,
          129.74,
          287.06600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          453.79,
          278.294,
          456.79,
          288.62600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "   ",
        "box": [
          508.18,
          278.294,
          515.5,
          288.62600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  Fee income from loans ",
        "box": [
          72.024,
          291.73400000000004,
          171.98,
          302.06600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          453.67,
          293.14772,
          456.16,
          301.72328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,292     ",
        "box": [
          479.26,
          293.14772,
          514.75,
          301.72328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,425  ",
        "box": [
          537.82,
          291.73400000000004,
          566.62,
          302.06600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  Income from limited liability company investments ",
        "box": [
          72.024,
          306.73400000000004,
          285.77,
          317.06600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          453.67,
          308.14772,
          456.16,
          316.72328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "105     ",
        "box": [
          486.82,
          308.14772,
          514.75,
          316.72328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "110  ",
        "box": [
          545.38,
          306.73400000000004,
          566.62,
          317.06600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  Other investment income ",
        "box": [
          72.024,
          321.73400000000004,
          181.1,
          332.06600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          453.67,
          323.14772,
          456.16,
          331.72328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3     ",
        "box": [
          496.78,
          323.14772,
          514.75,
          331.72328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6  ",
        "box": [
          555.34,
          321.73400000000004,
          566.62,
          332.06600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  Loss on equity securities ",
        "box": [
          72.024,
          336.73400000000004,
          179.18,
          347.06600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          454.51,
          338.14772,
          457.0,
          346.72328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(140)    ",
        "box": [
          483.34,
          338.14772,
          515.59,
          346.72328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(125) ",
        "box": [
          541.9,
          336.73400000000004,
          566.62,
          347.06600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  Other income ",
        "box": [
          72.024,
          351.73400000000004,
          134.78,
          362.06600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          453.67,
          353.14772,
          456.16,
          361.72328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "143     ",
        "box": [
          486.82,
          353.14772,
          514.75,
          361.72328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "72  ",
        "box": [
          550.42,
          351.73400000000004,
          566.62,
          362.06600000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total other income ",
        "box": [
          72.024,
          366.85400000000004,
          150.38,
          377.18600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          453.67,
          368.26772,
          456.16,
          376.84328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,403     ",
        "box": [
          479.26,
          368.26772,
          514.75,
          376.84328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,488  ",
        "box": [
          537.82,
          366.85400000000004,
          566.62,
          377.18600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Operating expenses ",
        "box": [
          72.024,
          381.754,
          153.62,
          392.086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          453.79,
          382.47400000000005,
          456.79,
          392.80600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "   ",
        "box": [
          508.18,
          382.47400000000005,
          515.5,
          392.80600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  Compensation and employee benefits ",
        "box": [
          72.024,
          396.754,
          230.33,
          407.086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          454.51,
          398.16772,
          457.0,
          406.74327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2,138)    ",
        "box": [
          475.9,
          398.16772,
          515.59,
          406.74327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,771) ",
        "box": [
          534.46,
          396.754,
          566.62,
          407.086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  General and administrative expenses ",
        "box": [
          72.024,
          411.754,
          226.97,
          422.086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          454.51,
          413.16772,
          457.0,
          421.74327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,963)    ",
        "box": [
          475.9,
          413.16772,
          515.59,
          421.74327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,355) ",
        "box": [
          534.46,
          411.754,
          566.62,
          422.086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  Transaction expenses ",
        "box": [
          72.024,
          426.754,
          165.26,
          437.086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          454.51,
          428.16772,
          457.0,
          436.74327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,608)    ",
        "box": [
          475.9,
          428.16772,
          514.75,
          436.74327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          550.42,
          428.16772,
          560.38,
          436.74327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "   ",
        "box": [
          560.38,
          426.754,
          566.62,
          437.086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  Recovery of impairment loss on real estate ",
        "box": [
          72.024,
          441.754,
          251.09,
          452.086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          453.67,
          443.16772,
          456.16,
          451.74327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "97     ",
        "box": [
          491.86,
          443.16772,
          514.75,
          451.74327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          550.42,
          443.16772,
          560.38,
          451.74327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "   ",
        "box": [
          560.38,
          441.754,
          566.62,
          452.086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  Gain on sale of investments in developmental real estate, real estate owned,  ",
        "box": [
          72.024,
          457.56772,
          384.40000000000003,
          466.14328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  and property and equipment, net ",
        "box": [
          72.024,
          470.28772,
          209.3,
          478.86328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          453.67,
          470.16772,
          456.16,
          478.74327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "196    ",
        "box": [
          486.82,
          470.16772,
          514.75,
          478.74327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          550.42,
          470.16772,
          560.38,
          478.74327999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "   ",
        "box": [
          560.38,
          468.754,
          566.62,
          479.086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  Other expenses ",
        "box": [
          72.024,
          483.03400000000005,
          141.38,
          493.36600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          454.51,
          484.44772,
          457.0,
          493.02328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(245)     ",
        "box": [
          483.34,
          484.44772,
          515.59,
          493.02328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(145) ",
        "box": [
          541.9,
          483.03400000000005,
          566.62,
          493.36600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total operating expenses ",
        "box": [
          72.024,
          498.03400000000005,
          174.26,
          508.36600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          454.51,
          499.44772,
          457.0,
          508.02328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(5,661)    ",
        "box": [
          475.9,
          499.44772,
          515.59,
          508.02328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3,271) ",
        "box": [
          534.46,
          498.03400000000005,
          566.62,
          508.36600000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net (loss) income ",
        "box": [
          76.584,
          513.0340000000001,
          150.62,
          523.366
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          454.51,
          514.44772,
          457.0,
          523.02328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(6,077)    ",
        "box": [
          475.9,
          514.44772,
          514.75,
          523.02328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "904  ",
        "box": [
          545.38,
          513.0340000000001,
          566.62,
          523.366
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Preferred stock dividends ",
        "box": [
          72.024,
          528.034,
          177.26,
          538.366
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          454.51,
          529.44772,
          457.0,
          538.02328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,120)    ",
        "box": [
          475.9,
          529.44772,
          515.95,
          538.02328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,117) ",
        "box": [
          534.82,
          528.034,
          566.62,
          538.366
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net loss attributable to common shareholders ",
        "box": [
          76.584,
          543.064,
          260.93,
          553.396
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          454.51,
          544.47772,
          462.04,
          553.05328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(7,197)   $ ",
        "box": [
          475.9,
          544.47772,
          520.63,
          553.05328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(213) ",
        "box": [
          541.9,
          543.064,
          566.62,
          553.396
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          559.144,
          75.024,
          569.476
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          453.79,
          559.144,
          456.79,
          569.476
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "   ",
        "box": [
          507.34,
          559.144,
          515.5,
          569.476
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic and diluted loss per common share ",
        "box": [
          72.024,
          573.784,
          238.97,
          584.116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          454.63,
          575.19772,
          462.16,
          583.77328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.15)  ",
        "box": [
          480.94,
          573.784,
          510.34,
          584.116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.00 ",
        "box": [
          539.14,
          573.784,
          564.7,
          584.116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic and diluted weighted average number of common shares outstanding ",
        "box": [
          72.024,
          588.784,
          375.19,
          599.116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " 47,178,193     46,784,744  ",
        "box": [
          453.67,
          588.784,
          566.62,
          599.116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          608.824,
          75.024,
          619.156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          635.344,
          75.024,
          645.6759999999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.024,
          661.75708,
          74.514,
          670.1346472727273
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 12,
    "width": 612.0,
    "height": 792.0,
    "cells": [
      {
        "text": " ",
        "box": [
          72.024,
          14.603999999999928,
          75.024,
          24.935999999999922
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                     ",
        "box": [
          259.49,
          45.083999999999946,
          370.49,
          55.41599999999994
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Earnings Release - First Quarter 2026",
        "box": [
          370.51,
          47.307000000000016,
          516.6909999999999,
          54.87709090909084
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          516.7,
          45.083999999999946,
          519.7,
          55.41599999999994
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12 ",
        "box": [
          301.01,
          763.85772,
          313.46000000000004,
          772.43328
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SACHEM CAPITAL CORP. ",
        "box": [
          244.73,
          73.07708000000002,
          369.76,
          81.45464727272736
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)",
        "box": [
          129.74,
          85.07708000000002,
          481.9455200000002,
          93.45464727272736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          482.38,
          83.50400000000002,
          485.38,
          93.83600000000001
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(in thousands)",
        "box": [
          275.57,
          97.07708000000002,
          336.20648000000006,
          105.45464727272736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          336.43,
          95.50400000000002,
          339.43,
          105.83600000000001
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          49.8,
          111.45691999999997,
          51.809999999999995,
          118.21953454545451
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          49.8,
          122.13692000000003,
          51.809999999999995,
          128.89953454545457
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Three Months Ended ",
        "box": [
          447.31,
          122.13692000000003,
          522.0699999999999,
          128.89953454545457
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          49.8,
          135.21691999999996,
          51.809999999999995,
          141.9795345454545
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "March 31, ",
        "box": [
          466.3,
          135.21691999999996,
          503.23,
          141.9795345454545
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          49.8,
          148.77692000000002,
          51.809999999999995,
          155.53953454545456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2026 ",
        "box": [
          433.99,
          148.77692000000002,
          451.96,
          155.53953454545456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          483.7,
          148.77692000000002,
          485.71,
          155.53953454545456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025 ",
        "box": [
          517.3,
          148.77692000000002,
          535.27,
          155.53953454545456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CASH FLOWS FROM OPERATING ACTIVITIES ",
        "box": [
          49.8,
          162.20827999999995,
          219.01999999999998,
          169.13072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          405.19,
          162.20827999999995,
          407.2,
          169.13072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          483.94,
          162.20827999999995,
          485.95,
          169.13072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          488.38,
          162.20827999999995,
          490.39,
          169.13072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net (loss) income ",
        "box": [
          54.36,
          174.56827999999996,
          113.27000000000001,
          181.49072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          407.95,
          174.56827999999996,
          413.92,
          181.49072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(6,077)   ",
        "box": [
          457.51,
          174.56827999999996,
          485.95,
          181.49072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          491.86,
          174.56827999999996,
          497.83,
          181.49072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "904  ",
        "box": [
          550.54,
          174.56827999999996,
          566.23,
          181.49072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjustments to reconcile net (loss) income to net cash provided by operating activities: ",
        "box": [
          54.36,
          188.12828000000002,
          335.44,
          195.05072000000007
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          405.19,
          188.12828000000002,
          407.2,
          195.05072000000007
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          483.94,
          188.12828000000002,
          485.95,
          195.05072000000007
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          488.38,
          188.12828000000002,
          490.39,
          195.05072000000007
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Amortization of deferred financing costs ",
        "box": [
          58.8,
          200.60827999999992,
          190.91,
          207.53071999999997
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          200.60827999999992,
          410.44,
          207.53071999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "507    ",
        "box": [
          467.14,
          200.60827999999992,
          485.95,
          207.53071999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          200.60827999999992,
          493.87,
          207.53071999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "545  ",
        "box": [
          550.54,
          200.60827999999992,
          566.23,
          207.53071999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Depreciation and amortization expense ",
        "box": [
          58.8,
          213.08827999999994,
          185.98999999999998,
          220.01072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          213.08827999999994,
          410.44,
          220.01072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "89    ",
        "box": [
          470.86,
          213.08827999999994,
          485.95,
          220.01072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          213.08827999999994,
          493.87,
          220.01072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "92  ",
        "box": [
          554.26,
          213.08827999999994,
          566.23,
          220.01072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stock-based compensation ",
        "box": [
          58.8,
          225.59827999999993,
          146.39,
          232.52071999999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          225.59827999999993,
          410.44,
          232.52071999999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "267    ",
        "box": [
          467.14,
          225.59827999999993,
          485.95,
          232.52071999999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          225.59827999999993,
          493.87,
          232.52071999999998
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "264  ",
        "box": [
          550.54,
          225.59827999999993,
          566.23,
          232.52071999999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Provision for credit losses related to loans held for investment ",
        "box": [
          58.8,
          238.19827999999995,
          259.21999999999997,
          245.12072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          238.19827999999995,
          410.44,
          245.12072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,372    ",
        "box": [
          461.59,
          238.19827999999995,
          485.95,
          245.12072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          238.19827999999995,
          493.87,
          245.12072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,052  ",
        "box": [
          545.02,
          238.19827999999995,
          566.23,
          245.12072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Change in valuation allowance related to loans held for sale ",
        "box": [
          58.8,
          250.67827999999997,
          252.14,
          257.60072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          250.67827999999997,
          410.44,
          257.60072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          470.86,
          250.67827999999997,
          478.90000000000003,
          257.60072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "    ",
        "box": [
          478.9,
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          485.95,
          257.60072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          492.22,
          250.67827999999997,
          494.23,
          257.60072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(4) ",
        "box": [
          554.86,
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          566.23,
          257.60072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Recovery of impairment loss on real estate owned ",
        "box": [
          58.8,
          263.15828,
          221.06,
          270.08072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.55,
          263.15828,
          410.56,
          270.08072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(97)   ",
        "box": [
          467.5,
          263.15828,
          485.95,
          270.08072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          263.15828,
          493.87,
          270.08072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          554.26,
          263.15828,
          562.3,
          270.08072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          562.3,
          263.15828,
          566.23,
          270.08072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Gain on sale of real estate owned and property and equipment, net ",
        "box": [
          58.8,
          275.63828,
          272.78,
          282.56072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.31,
          275.63828,
          410.32,
          282.56072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(196)   ",
        "box": [
          463.54,
          275.63828,
          485.95,
          282.56072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          275.63828,
          493.87,
          282.56072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          554.26,
          275.63828,
          562.3,
          282.56072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          562.3,
          275.63828,
          566.23,
          282.56072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loss on equity securities ",
        "box": [
          58.8,
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          140.14999999999998,
          295.04072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          288.11828,
          410.44,
          295.04072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "140    ",
        "box": [
          467.14,
          288.11828,
          485.95,
          295.04072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          288.11828,
          493.87,
          295.04072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "125  ",
        "box": [
          550.54,
          288.11828,
          566.23,
          295.04072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Change in deferred loan fees ",
        "box": [
          58.8,
          300.59828000000005,
          152.75,
          307.52072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.79,
          300.59828000000005,
          410.8,
          307.52072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(5)   ",
        "box": [
          471.46,
          300.59828000000005,
          485.95,
          307.52072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          300.59828000000005,
          493.87,
          307.52072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "275  ",
        "box": [
          550.54,
          300.59828000000005,
          566.23,
          307.52072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Changes in operating assets and liabilities: ",
        "box": [
          58.8,
          313.19827999999995,
          197.03,
          320.12072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          405.19,
          313.19827999999995,
          407.2,
          320.12072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          483.94,
          313.19827999999995,
          485.95,
          320.12072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          488.38,
          313.19827999999995,
          490.39,
          320.12072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest and fees receivable, net ",
        "box": [
          69.264,
          325.67828,
          172.31,
          332.60072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.31,
          325.67828,
          410.32,
          332.60072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(668)   ",
        "box": [
          463.54,
          325.67828,
          485.95,
          332.60072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.74,
          325.67828,
          493.75,
          332.60072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(361) ",
        "box": [
          546.94,
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          566.23,
          332.60072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other assets ",
        "box": [
          69.264,
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          110.15,
          345.08072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          338.15828,
          410.44,
          345.08072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "176    ",
        "box": [
          467.14,
          338.15828,
          485.95,
          345.08072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          338.15828,
          493.87,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "133  ",
        "box": [
          550.54,
          338.15828,
          566.23,
          345.08072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Due from borrowers, net ",
        "box": [
          69.264,
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          150.35,
          357.56072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.31,
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          410.32,
          357.56072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(855)   ",
        "box": [
          463.54,
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          485.95,
          357.56072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.74,
          350.63828,
          493.75,
          357.56072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(254) ",
        "box": [
          546.94,
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          566.23,
          357.56072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accounts payable and accrued liabilities  ",
        "box": [
          69.264,
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          202.57999999999998,
          370.04072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          363.11828,
          410.44,
          370.04072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "838    ",
        "box": [
          467.14,
          363.11828,
          485.95,
          370.04072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.38,
          363.11828,
          493.39,
          370.04072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,612) ",
        "box": [
          540.94,
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          566.23,
          370.04072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Advances from borrowers ",
        "box": [
          69.264,
          375.59828000000005,
          154.79,
          382.52072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          375.59828000000005,
          410.44,
          382.52072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,344    ",
        "box": [
          461.59,
          375.59828000000005,
          485.95,
          382.52072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.74,
          375.59828000000005,
          493.75,
          382.52072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(968) ",
        "box": [
          546.94,
          375.59828000000005,
          566.23,
          382.52072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NET CASH PROVIDED BY OPERATING ACTIVITIES ",
        "box": [
          49.8,
          389.17828,
          237.85999999999999,
          396.10072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          389.17828,
          410.44,
          396.10072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "835    ",
        "box": [
          467.14,
          389.17828,
          485.95,
          396.10072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          389.17828,
          493.87,
          396.10072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "191  ",
        "box": [
          550.54,
          389.17828,
          566.23,
          396.10072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CASH FLOWS FROM INVESTING ACTIVITIES ",
        "box": [
          49.8,
          402.01828,
          217.22,
          408.94072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          405.19,
          402.01828,
          407.2,
          408.94072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          483.94,
          402.01828,
          485.95,
          408.94072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          488.38,
          402.01828,
          490.39,
          408.94072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Purchase of interests in limited liability companies ",
        "box": [
          58.8,
          415.21828000000005,
          223.1,
          422.14072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.31,
          415.21828000000005,
          410.32,
          422.14072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(721)   ",
        "box": [
          463.54,
          415.21828000000005,
          485.95,
          422.14072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.38,
          415.21828000000005,
          493.39,
          422.14072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(4,223) ",
        "box": [
          540.94,
          415.21828000000005,
          566.23,
          422.14072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Proceeds from investments in limited liability companies ",
        "box": [
          58.8,
          427.69827999999995,
          243.5,
          434.62072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          427.69827999999995,
          410.44,
          434.62072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,618    ",
        "box": [
          461.59,
          427.69827999999995,
          485.95,
          434.62072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          427.69827999999995,
          493.87,
          434.62072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,230  ",
        "box": [
          545.02,
          427.69827999999995,
          566.23,
          434.62072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Proceeds from sale of real estate owned ",
        "box": [
          58.8,
          440.17828,
          187.91,
          447.10072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          440.17828,
          410.44,
          447.10072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "673    ",
        "box": [
          467.14,
          440.17828,
          485.95,
          447.10072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          440.17828,
          493.87,
          447.10072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "89  ",
        "box": [
          554.26,
          440.17828,
          566.23,
          447.10072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Purchase of property and equipment ",
        "box": [
          58.8,
          452.65828,
          176.75,
          459.58072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          452.65828,
          410.44,
          459.58072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          470.86,
          452.65828,
          478.90000000000003,
          459.58072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "    ",
        "box": [
          478.9,
          452.65828,
          485.95,
          459.58072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.98,
          452.65828,
          493.99,
          459.58072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(41) ",
        "box": [
          550.9,
          452.65828,
          566.23,
          459.58072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investments in developmental real estate ",
        "box": [
          58.8,
          465.13828,
          191.03,
          472.06072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.31,
          465.13828,
          410.32,
          472.06072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(363)   ",
        "box": [
          463.54,
          465.13828,
          485.95,
          472.06072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.74,
          465.13828,
          493.75,
          472.06072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(742) ",
        "box": [
          546.94,
          465.13828,
          566.23,
          472.06072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Principal disbursements for loans ",
        "box": [
          58.8,
          477.61828,
          167.75,
          484.54072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          407.59,
          477.61828,
          409.59999999999997,
          484.54072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(38,761)   ",
        "box": [
          453.43,
          477.61828,
          485.95,
          484.54072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.02,
          477.61828,
          493.03,
          484.54072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(41,308) ",
        "box": [
          536.86,
          477.61828,
          566.23,
          484.54072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Principal collections on loans ",
        "box": [
          58.8,
          490.21828000000005,
          155.26999999999998,
          497.14072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          490.21828000000005,
          410.44,
          497.14072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18,050    ",
        "box": [
          457.75,
          490.21828000000005,
          485.95,
          497.14072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          490.21828000000005,
          493.87,
          497.14072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47,742  ",
        "box": [
          541.18,
          490.21828000000005,
          566.23,
          497.14072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES ",
        "box": [
          49.8,
          503.65828,
          274.82,
          510.58072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          407.59,
          503.65828,
          409.59999999999997,
          510.58072000000004
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(16,504)   ",
        "box": [
          453.43,
          503.65828,
          485.95,
          510.58072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          503.65828,
          493.87,
          510.58072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,747  ",
        "box": [
          545.02,
          503.65828,
          566.23,
          510.58072000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CASH FLOWS FROM FINANCING ACTIVITIES ",
        "box": [
          49.8,
          517.21828,
          218.54,
          524.1407200000001
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          405.19,
          517.21828,
          407.2,
          524.1407200000001
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          483.94,
          517.21828,
          485.95,
          524.1407200000001
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          488.38,
          517.21828,
          490.39,
          524.1407200000001
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Proceeds from lines of credit ",
        "box": [
          58.8,
          529.69828,
          153.23,
          536.62072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          529.69828,
          410.44,
          536.62072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20,000    ",
        "box": [
          457.75,
          529.69828,
          485.95,
          536.62072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          529.69828,
          493.87,
          536.62072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "36,100  ",
        "box": [
          541.18,
          529.69828,
          566.23,
          536.62072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repayments on lines of credit ",
        "box": [
          58.8,
          542.2082800000001,
          156.35,
          549.13072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          407.59,
          542.2082800000001,
          409.59999999999997,
          549.13072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(10,000)   ",
        "box": [
          453.43,
          542.2082800000001,
          485.95,
          549.13072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.02,
          542.2082800000001,
          493.03,
          549.13072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(40,000) ",
        "box": [
          536.86,
          542.2082800000001,
          566.23,
          549.13072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Proceeds from repurchase agreements ",
        "box": [
          58.8,
          554.68828,
          182.39,
          561.61072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          554.68828,
          410.44,
          561.61072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          470.86,
          554.68828,
          478.90000000000003,
          561.61072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "    ",
        "box": [
          478.9,
          554.68828,
          485.95,
          561.61072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          554.68828,
          493.87,
          561.61072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11,693  ",
        "box": [
          541.18,
          554.68828,
          566.23,
          561.61072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repayments of repurchase agreements ",
        "box": [
          58.8,
          567.16828,
          184.07,
          574.09072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          567.16828,
          410.44,
          574.09072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          470.86,
          567.16828,
          478.90000000000003,
          574.09072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "    ",
        "box": [
          478.9,
          567.16828,
          485.95,
          574.09072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.38,
          567.16828,
          493.39,
          574.09072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3,882) ",
        "box": [
          540.94,
          567.16828,
          566.23,
          574.09072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repayment of mortgage payable ",
        "box": [
          58.8,
          579.64828,
          164.98999999999998,
          586.5707199999999
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.55,
          579.64828,
          410.56,
          586.5707199999999
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(22)   ",
        "box": [
          467.5,
          579.64828,
          485.95,
          586.5707199999999
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.98,
          579.64828,
          493.99,
          586.5707199999999
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(21) ",
        "box": [
          550.9,
          579.64828,
          566.23,
          586.5707199999999
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividends paid on common shares ",
        "box": [
          58.8,
          592.24828,
          171.47,
          599.17072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          407.95,
          592.24828,
          409.96,
          599.17072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2,398)   ",
        "box": [
          457.51,
          592.24828,
          485.95,
          599.17072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.38,
          592.24828,
          493.39,
          599.17072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2,363) ",
        "box": [
          540.94,
          592.24828,
          566.23,
          599.17072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividends paid on Series A Preferred Stock ",
        "box": [
          58.8,
          604.72828,
          199.94,
          611.65072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          407.95,
          604.72828,
          409.96,
          611.65072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,120)   ",
        "box": [
          457.51,
          604.72828,
          485.95,
          611.65072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.62,
          604.72828,
          493.63,
          611.65072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,117) ",
        "box": [
          541.18,
          604.72828,
          566.23,
          611.65072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Proceeds from issuance of Senior Secured Notes ",
        "box": [
          58.8,
          617.2082800000001,
          216.38,
          624.13072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          617.2082800000001,
          410.44,
          624.13072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10,000    ",
        "box": [
          457.75,
          617.2082800000001,
          485.95,
          624.13072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          617.2082800000001,
          493.87,
          624.13072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          554.26,
          617.2082800000001,
          562.3,
          624.13072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          562.3,
          617.2082800000001,
          566.23,
          624.13072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Payments of deferred financing costs ",
        "box": [
          58.8,
          629.68828,
          179.51,
          636.61072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.31,
          629.68828,
          410.32,
          636.61072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(150)   ",
        "box": [
          463.54,
          629.68828,
          485.95,
          636.61072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          629.68828,
          493.87,
          636.61072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          554.26,
          629.68828,
          562.3,
          636.61072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          562.3,
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          566.23,
          636.61072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NET CASH PROVIDED BY FINANCING ACTIVITIES ",
        "box": [
          49.8,
          643.24828,
          237.5,
          650.17072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          643.24828,
          410.44,
          650.17072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16,310    ",
        "box": [
          457.75,
          643.24828,
          485.95,
          650.17072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          643.24828,
          493.87,
          650.17072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "410  ",
        "box": [
          550.54,
          643.24828,
          566.23,
          650.17072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NET INCREASE IN CASH AND CASH EQUIVALENTS ",
        "box": [
          49.8,
          656.68828,
          240.85999999999999,
          663.61072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          656.68828,
          410.44,
          663.61072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "641    ",
        "box": [
          467.14,
          656.68828,
          485.95,
          663.61072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          656.68828,
          493.87,
          663.61072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,348  ",
        "box": [
          545.02,
          656.68828,
          566.23,
          663.61072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CASH AND CASH EQUIVALENTS ",
        "box": [
          49.8,
          667.84828,
          171.76679999999996,
          674.77072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          171.86,
          667.84828,
          175.88000000000002,
          674.77072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " BEGINNING OF PERIOD ",
        "box": [
          175.94,
          667.84828,
          267.5,
          674.77072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          408.43,
          669.16828,
          410.44,
          676.09072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10,924    ",
        "box": [
          457.75,
          669.16828,
          485.95,
          676.09072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          491.86,
          669.16828,
          493.87,
          676.09072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18,066  ",
        "box": [
          541.18,
          669.16828,
          566.23,
          676.09072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CASH AND CASH EQUIVALENTS ",
        "box": [
          49.8,
          681.40828,
          171.76679999999996,
          688.33072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          171.86,
          681.40828,
          175.88000000000002,
          688.33072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " END OF PERIOD ",
        "box": [
          175.94,
          681.40828,
          239.42,
          688.33072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          408.43,
          682.72828,
          414.4,
          689.65072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11,565    ",
        "box": [
          457.75,
          682.72828,
          485.95,
          689.65072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          491.86,
          682.72828,
          497.83,
          689.65072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24,414  ",
        "box": [
          541.18,
          682.72828,
          566.23,
          689.65072
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          306.05,
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          308.06,
          701.672669090909
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        "from_ocr": false,
        "confidence": 1.0
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