Legacy Bank president exits amid investigation into 'employee-related allegations'

The president of Springfield-based Legacy Bank & Trust Co. has exited the company amid an investigation into "employee-related allegations."

A statement was issued to Springfield Business Journal this morning by Katrina Sweaney, Legacy Bank's senior vice president and director of human resources.

"Brett Magers is no longer employed with Legacy Bank or Legacy Capital. We cannot disclose details regarding his departure as we do not discuss personnel matters," the statement reads. "We have no further comments at this time."

Legacy Bank CEO John Everett said in an email to SBJ late last month that the company had received "employee-related allegations" against Magers. At the time, Magers was listed among employees on Legacy Bank’s website.

"Legacy Bank & Trust received employee-related allegations about Mr. Magers and we have retained an independent investigator to look into those allegations. That investigation is ongoing," Everett said in the email on Feb. 23. "Legacy Bank & Trust will have no further comment on this matter at this time."

Everett did not disclose the nature of the allegations in the statement issued last month.

Magers, who has not returned calls for comment, continues to list current employment with Legacy Bank and its Legacy Capital division on his LinkedIn profile. Attorney James Poe, who identified Magers as his client in a phone call with SBJ last month, said this morning that his "role is very limited at this point in time" and deferred comment to Magers.

No litigation appears to have been filed with state or federal authorities in the investigation.

Magers at the start of 2023 took on the CEO role at Legacy Capital in addition to his role as president of Legacy Bank, according to past reporting. Magers was promoted to Legacy Bank's president from chief lending officer in 2020 after 10 years of leadership experience with the company.