H&R Block deal to sell part of HRB bank falls through

|About: H&R Block Inc. (HRB)|By:, SA News Editor

H&R Block (HRBtumbles 5.6% premarket after Republic Bank (RBCAA) says it's withdrawing its application to the OCC for conversion to a national banking association - a necessary condition of its agreement to purchase certain parts of HRB Bank.

"We remain committed to our twin goals of ceasing to be regulated as a savings and loan holding company and finding the right bank partner to help us to continue to grow our financial services business."

A conference call is set for 9 ET.