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BRIEF-Customers Bancorp enters into amended and restated purchase agreement with Flagship
November 20, 2017 / 1:50 PM / a month ago

BRIEF-Customers Bancorp enters into amended and restated purchase agreement with Flagship

Nov 20 (Reuters) - Customers Bancorp Inc

* Customers Bancorp - On Nov 17, co and Flagship Community Bank entered into an amended and restated purchase and assumption agreement

* Customers Bancorp - Original purchase agreement provided for sale of Bankmobile division of Customers Bank to Flagship

* Customers Bancorp - Completion of transaction was subject to a variety of conditions, including Flagship obtaining financing not less than $260 million

* Customers Bancorp says Flagship was unable to obtain the financing​

* Customers Bancorp says ‍amended purchase agreement contains certain termination rights for both sellers and flagship​ Source text: (bit.ly/2B5xK6M) Further company coverage:

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