Most recent scrutiny of CertusBank in Greenville, S.C., has focused on the outsized spending and questionable related-party dealings of the bank's founders.

Those executives, ousted earlier this month, are trying to make the case that deeper problems existed. A lawsuit filed Wednesday by the executives in U.S. District Court in South Carolina shows Certus as a dysfunctional business split by rival factions that undermined each other while pursuing self-serving agendas.

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