(Bloomberg) -- Customers Bancorp Inc., one of the buyers of failed lender Signature Bank’s assets last year, said it ousted and replaced Chief Financial Officer Carla Leibold for violating company policy.

Leibold was terminated April 10 for “cause,” Customers Bancorp said in a regulatory filing on Friday, without elaborating on the reason. The company noted that she disputes its characterization of her separation.

Philip Watkins, who has served as CFO of the company’s Customers Bank unit since January, is being promoted to succeed her in that role for the parent company, according to the filing. A company spokesperson and Leibold couldn’t immediately be reached for further comment.

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