Four months ago, the board of CertusBank fired its founders and top executives after millions of dollars in losses and allegations of lavish spending. Now the board has been overhauled, a change that appears to put control of the Greenville, S.C., bank more firmly in the hands of its investors.

Six new directors were elected to the board at Certus' annual meeting last week, and all five current board members were reelected, according to a news release Wednesday.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.