PB Bankshares in Coatesville, Pa., disclosed that a real estate sale fell through.
The $450 million-asset company disclosed in a press release that Ferfeldt Investments had terminated an agreement to buy vacant land next to a branch in New Holland, Pa.
The investor had agreed to pay $950,000 for the property.
“The agreement provided that the buyer could elect to terminate the agreement during the inspection period,” the filing said. “The buyer elected to terminate under this clause.”