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John P. Lewis

Commerce Bank Remains Local

Commerce Bank of Arizona has terminated an agreement to merge with First Scottsdale Bank because of banking regulatory delays. John S. Lewis will remain as Commerce Bank’s CEO. Tucson native and longtime banker John P. Lewis (no relation to John S. Lewis) has been named president of Southern Arizona operations. While banking regulatory authorities did not disapprove of the merger, Commerce Bank’s board decided that further delay was likely to be detrimental to the interests of shareholders. The bank will pursue other options to preserve its value for shareholders, John P. Lewis said. Michael Trueba has been named chief credit officer of Commerce Bank. He and John P. Lewis were responsible for the launch of Southern Arizona Community Bank in 1998, which merged with the Bank of Tucson in December 2010. With support from the Tucson community, Commerce Bank will continue to be Tucson’s largest locally owned community bank, with all decisions made in Tucson, according to John P. Lewis. He said the bank has made progress resolving issues within its loan portfolio, and that a new strategic plan has been formulated, seeking capital within the Tucson community.

Biz

Lindsay Welch Leads Junior Achievement Lindsay Welch has been appointed district director of Junior Achievement – Southern District, encompassing Tucson, Vail, Marana and surrounding areas. Welch is a Texas native and recent Tucson transplant. She received a bachelor’s degree in business marketing, with a minor in education from the University of Phoenix. She comes to Junior Achievement with five years of nonprofit experience in school administration. Her position with Junior Achievement marries her dual areas of expertise – business community relations and development with a pascontinued on page 237 >>> 236 BizTucson

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Winter 2014

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The Tucson Region's Business Magazine