The sale of Arrowhead Pacific Savings fell through.

In a terse announcement, the financially ailing savings bank said its deal with Transpacific Industries “has been terminated by mutual consent.” The original agreement, announced last December, called for Transpacific to buy Arrowhead Pacific Savings for about $2.2 million in cash and notes, then contribute $1.6 million in real estate assets to give the savings bank a positive net worth. Officials at Arrowhead Savings could not be reached for comment.