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November 4 , 2021 SACHEM CAPITAL Sachem Capital Reports 100 % Revenue Growth and Net Income of $ 3.4 Million for the Third Quarter of 2021 Conference Call and Webcast to be held at 8:00 AM EDT on Friday , November 5 , 2021 BRANFORD , Conn . , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- Sachem Capital Corp. ( NYSE American : SACH ) announces its financial results for the quarter and nine months ended September 30 , 2021. The company will host a conference call on Friday , November 5 , 2021 at 8:00 a.m. Eastern Daylight Time to discuss in greater detail its financial condition and operating results for the third quarter of 2021 . John Villano , CPA , the company's Chief Executive and Chief Financial Officer stated : " We achieved 100 % revenue growth over the same period last year , as well as net income of $ 3.4 million for the third quarter of 2021 , which provides further validation our long - term strategy is working . We have maintained a robust loan pipeline , a healthy balance sheet and continue to generate solid cash flow . Importantly , with the proceeds of our recent Series A Preferred offering , combined with the addition of our Churchill credit facility , we are poised for further growth during the balance of the year and beyond . As previously discussed , we are diversifying our holdings , including larger loans with established developers . We are also opportunistically expanding and diversifying the geographic footprint of our mortgage loan portfolio beyond Connecticut . We have accomplished these goals while maintaining strict underwriting criteria and a conservative loan to value ratio . Looking ahead , we are witnessing strong market demand for our loan products and remain highly encouraged by the outlook for the business . " Results of operations three months ended September 30 , 2021 Total revenue for the three months ended September 30 , 2021 was approximately $ 8.5 million compared to approximately $ 4.3 million for the three months ended September 30 , 2020 , an increase of approximately $ 4.3 million , or 100 % . Interest income and origination fees were approximately $ 6.1 million and $ 1.0 million , respectively . In comparison , for the three months ended September 30 , 2020 , interest income and origination fees were approximately $ 3.5 million and $ 393,000 , respectively . In the third quarter of 2021 the company had approximately $ 256,000 of gains from the sale of investment securities compared to a loss of approximately $ 22,000 for the 2020 period . Investment income for the third quarter of 2021 increased to $ 276,000 compared to approximately $ 32,000 for the same period last year . Other income was approximately $ 580,000 for the third quarter of 2021 , compared to approximately $ 337,000 for the same period last year . Total operating costs and expenses for three months ended September 30 , 2021 were approximately $ 4.2 million compared to approximately $ 2.1 million for the three months ended September 30 , 2020. The increase in operating costs and expenses is primarily