Teresa Maledy Central Missouri Regional Chairman announces retirement
Columbia, MO, January 24, 2018 – Robert Holmes, executive vice president of Commerce Bancshares, Inc. announced today that Steve Sowers, president Commerce Bank Central & Eastern Missouri region will be Teresa Maledy’ s successor effective June 30, 2018. In his new role, Sowers will be responsible for the overall administration of Commerce Bank’s Central & Eastern Missouri region. Maledy announced her retirement after 37 years with the company, including the last 16 years as a regional market manager for Commerce Bank in Central Missouri.
In announcing her retirement to focus on her family, Maledy commented, “I’ve had the privilege of serving as regional CEO for Commerce Bank since 2002, and I’m very proud of what we’ve built together as a team. This is an exciting time for our region and I know the Central & Eastern Missouri team has the strength and leadership which lets me feel comfortable stepping away from my role. Part of that comfort is my successor, Steve Sowers.” Sowers, a long-time Commerce Bank executive with 21 years of banking experience, is currently president of Commerce Bank, Central & Eastern Missouri which includes Columbia, Mexico, Moberly, Tipton, California, Hannibal, Cape Girardeau and Poplar Bluff.
Holmes commented, “Teresa has served Commerce Bank well over her career and we appreciate her dedication to Commerce Bank. We have been very intentional in our approach to succession planning and are pleased to have Steve serve in this very important leadership role for Commerce Bank in Central & Eastern Missouri. Sowers has shown strong leadership in Columbia and our Central & Eastern Missouri region and is well prepared to assume his new duties.“
Sowers began his tenure with Commerce in 1997 and was quickly recognized for his leadership capabilities. He is a graduate of the University of Missouri having received a Bachelor of Science in business administration with an emphasis in finance, banking and real estate. Sowers is active in the community and currently serving on the board of both The Food Bank for Central and Northeast Missouri and The Heart of Missouri United Way and, previously, was a board member of the Columbia Area Chamber of Commerce.
About Commerce Bank
Commerce Bank, is a subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), a $24.8 billion regional bank holding company, as of December 31, 2017. For more than 150 years, Commerce has been meeting the financial services needs of individuals and businesses. Commerce provides a full range of financial products to consumer and commercial customers, including personal banking, lending, mortgage banking, wealth management, brokerage and capital markets services. Commerce operates in more than 330 locations in the central United States and has a nationwide presence in the commercial payments industry.