Bancorp terminates sale of $42.9M apartment complex; disputes $3M earnest money

Bancorp, Inc.

Terminated agreement of sale for OREO apartment complex with $42.9M balance as of June 30, 2025.
Demanded release of $3.0M earnest money deposits; purchaser objected on June 26, 2025 without contractual basis.
Company believes it is entitled to deposits and intends to pursue release of the funds.

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