Bancorp’s $42.9M OREO apartment sale fails; retains $3M earnest money

Bancorp, Inc.

Purchaser failed to close on May 30, 2025, or secure extension per amended agreement.
Underlying loan balance for the apartment complex is $42.9M as of May 15, 2025.
Company retains $3.0M earnest money deposits plus any additional purchaser investments.
Amendment had allowed up to two 30/60-day extensions at $1.0M each; unused.
Absent cure, agreement of sale terminates; property remains on Bancorp’s books.

item 8.01

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