BRATTLEBORO, Vt. (AP) – Three former executives of the Brattleboro Savings & Loan claim they were fired for exposing what they considered to be improper loan practices.

Former Vice Presidents Jeffrey Morse, Michael Mandracchia, and Michael Leonard claim they were promised there would be no retaliation against them if they reported what they felt were loan irregularities.

“All three of them were complaining to board members that the bank wasn’t being operated properly,” said their attorney Norman Watts of Woodstock.

They were fired last summer.

Last year, a federal audit found the bank had overrepresented its portfolio and had inadequate loan loss reserves.

Bank President George Haynes on Wednesday denied the charges in the lawsuit.

Haynes said the three were fired as part of a staff restructuring.

“It’s pretty standard of what most businesses do,” he said.

“We didn’t just change for the sake of change. We thought the people we brought in and promoted would do a better job than the people who were here,” he said.

Haynes said Morse, Mandracchia, and Leonard were upset because they’d lost their jobs.

“We have three disgruntled employees and our position is they weren’t wrongfully terminated,” Haynes said. “I’m sure as this goes through the process and facts are known there really won’t be a case.”