Bank of America is dropping some of its municipal deposit accounts with smaller Massachusetts cities and towns, according to a story in today’s Boston Globe.

Among those getting dumped by the banking behemoth: the cities of Fitchburg and Fall River and Blue Hills Regional Technical School in Canton, the Globe said.

The $2.1 trillion bank initially gave the city of Fitchburg 90 days to find a new place to puts its $11 million in deposits, but Treasurer Calvin Brooks said he had asked for an extension, which he believes the bank will grant.

“I’ve received about eight proposals from various banks, and I’m in the process of reviewing them now,” he told Banker & Tradesman. “I expect to make a decision shortly.”

New regulations, combined with a prolonged low interest rate environment, may be driving the bank’s decision to dump some of its smaller, less profitable clients. In addition to rules cited by the Globe that require banks to stash away greater reserves against certain deposit accounts, the FDIC also announced a plan earlier this year that would require the very largest U.S. banks to keep more meticulous records of their deposit accounts.

While Brooks said he was surprised by the banker’s visit early in September to deliver the news, he didn’t seem to hold any hard feelings against the bank.

“I think that the municipal sector has its own uniqueness, its own quirks and that makes it suitable for some banks and not for others,” he said. “I understand that.”