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Customers Bancorp puts BankMobile spinoff on hold for 2 to 3 years

Customers Bancorp Inc. is suspending its plans to spin off its BankMobile unit for two to three years as the digital unit operates partnerships with companies such as T-Mobile US Inc., according to an investor presentation.

Previously, the company planned to sell BankMobile to Flagship Community Bank, but that was put on hold in August as the buyer withdrew its application from the Federal Deposit Insurance Corp.

The company said regulatory complications led to the change in tactics.