Indiana Members Credit Union and Commerce Bank Announce Strategic Acquisition

Indiana Members Credit Union (IMCU) and Commerce Bank announced today that they have signed a definitive purchase and assumption agreement whereby IMCU, headquartered in Indianapolis, Indiana, will acquire the assets and assume the liabilities of Commerce Bank, headquartered in Evansville, Indiana, in an all cash transaction.

“We look forward to assisting Luke Yaeger and his team in Evansville and Bill White and his team in Clarksville in building on their existing customer relationships,” said Ron Collier, IMCU’s President and CEO. “Our combined size will provide even more opportunities for Commerce Bank commercial borrowers to grow and our robust consumer offerings will assist individuals in these communities to reach their financial goals.”

“We are thrilled to join Indiana Members Credit Union because of the expanded opportunities it brings to our customers, our employees, and our communities,” said Luke Yaeger, President & CEO of Commerce Bank. “IMCU has the financial strength, systems infrastructure, and expanded products to help us tap into a larger customer base and accelerate growth.”

The transaction has been unanimously approved by the board of directors of both institutions and is expected to close in the first quarter of 2020, subject to customary closing conditions, and the approval of First Light Bancorp’s stockholders and regulators.

Once the acquisition is finalized, Commerce Bank will operate under the IMCU name, and all customers will have access to the wide array of services available through IMCU.

Ashley Johns

Commerce Bank promotes Ashley Johns to Evansville East Branch Manager

Ashley Johns

Commerce Bank is pleased to announce the promotion of Ashley Johns to Evansville East Branch Manager.  Her principal responsibilities include establishing, building and maintaining customer relationships by uncovering needs and providing solutions; inspiring, leading and developing branch staff by fostering teamwork; developing consumer lending; and ensuring the branch meets all regulatory compliance standards by following operating policy and procedures.

Ashley studied at the University of Southern Indiana and graduated from Castle High School. She has been with Commerce Bank for over six years. Prior to her career move into banking, Ashley worked at the Easterseals Rehabilitation Center for 10 years.

Ashley resides in Newburgh, IN with her husband of 13 years and their three children. She is a lifelong resident of Newburgh, IN, who enjoys spending her free time traveling and with her family. 

Denise Utley

Commerce Bank promotes Denise Utley to Evansville West Branch Manager

Denise Utley

Commerce Bank is pleased to announce the promotion of Denise Utley to Evansville West Branch Manager.  Her principal responsibilities include establishing, building and maintaining customer relationships by uncovering needs and providing solutions; inspiring, leading and developing branch staff by fostering teamwork; developing consumer lending; and ensuring the branch meets all regulatory compliance standards by following operating policy and procedures.

Denise attended the University of Evansville and graduated from Mater Dei High School. She has 19 years of local banking experience. She is a lifelong resident of Evansville who was born and raised on the city’s west side. She is an active member of St. John Evangelist Church in Daylight, Indiana; and a Fund Development Committee member with Ronald McDonald House Charities of the Ohio Valley.

Denise currently resides in Evansville with her husband, Aaron, and their two sons. She enjoys attending her sons’ sporting events and spending time with her family and friends. 

Commerce Bank named the 38th Healthiest FDIC-insured Bank in the United States in 2019

Commerce Bank achieved an incredible “A+” health rating in the 2019 financial health study, making it one of the healthiest banks in the United States. Commerce Bank was ranked 38th out of 5,267 FDIC-insured US banks analyzed by the DepositAccounts team. 

The FDIC and NCUA maintain independent lists of banks and credit unions across the nation. Both federally insured organizations publish the raw financial numbers for each banking institution every quarter. Using different formulas with this data, it is possible to determine the financial health of banks and credit unions. DepositAccounts assesses the financial health of all federally insured banks and credit unions in the U.S. by using a proprietary formula containing key components such as Texas Ratio, Deposit Growth, and Capitalization.

“We’re extremely proud of the ‘Healthiest Bank’ distinction we’ve earned,” said Luke Yaeger, President & CEO of Commerce Bank, “Being ranked in the top 7% of all banks in the United States is a testament to all of our banking team and our collective commitment to this community.”

“DepositAccounts congratulates the Commerce Bank on such an outstanding distinction and vote of confidence for how well the institution is being managed and run,” said Senior Content Manager, Christopher Trum, “Congratulations to Luke, his team, and the Commerce customers on this impressive achievement!”

About is the largest and most comprehensive online publication in the U.S. dedicated to banking/savings (deposits) information for consumers. It independently assesses the financial health of all FDIC insured banks and NCUA insured credit unions (over 10,000 institutions) each quarter and makes its ratings available online to consumers without requiring a subscription.

About Commerce Bank

Commerce Bank is a locally owned and managed commercial bank with its headquarters located at 320 Eagle Crest Drive, Evansville, Indiana 47715. The directors and management of Commerce Bank are focused on providing traditional ‘hometown’ community bank services. Commerce Bank emphasizes building personalized long-term financial relationships with individuals and small businesses that value the availability of working with experienced, local decision makers. For more information please feel call (812) 492-1800 or visit

Genie Stamper

Commerce Bank Adds New Business Development Officer

Commerce Bank is proud to introduce Genie Stamper as one of its new Business Development Officers. She has nearly 20 years of banking experience with various banks across the country. Her principal duties include establishing and achieving sales targets as well as analyzing and promoting various banking services to customers.

“I love working with businesses to help uncover their financial needs and to develop a strategy for the company’s overall cash flow.  I enjoy advising businesses on their cash management concerns, which helps them with the speed of collections on receivables and efficiency of operations. I work closely with business account holders through the installation of our banks’ cash management products and take pride in providing the best quality service,” Genie said.

Genie was raised in Western Kentucky and has lived in Southern Indiana for about 8 years. She has been married to John for 27 years. Together, they started the nonprofit organization ‘Student Outdoor Experience’ that teaches leadership to middle school and high school students using the backdrop of hunting and shooting sports 13 years ago. They have two children, Shelby and Jackson.

Emily Cunningham

Commerce Bank Adds New Business Development Officer

Commerce Bank is proud to introduce Emily Cunningham as one of its new Business Development Officers. Her principal duties include identifying business opportunities, building and maintaining successful relationships with prospects and existing clients, and selling bank products and services such as business depository products, cash management products, business credit cards and other products. Prior to joining the Commerce Bank team in July 2017, Emily worked for Community State Bank of Southwestern Indiana.

Emily is a 2016 graduate from the University of Southern Indiana (USI). She holds a Bachelor of Science in Business Administration degree, and recently started working on a Master in Business Administration degree at USI.

Emily is a lifelong Westside Evansville native. She still resides there with her husband, Drew, and their four-legged furry family member, Moose. She currently serves as an Ambassador for the Southwest Indiana Chamber. When she’s not working hard for business clients, she enjoys music, and boating on Barkley Lake with friends and family.

Vicky Wainman

Commerce Bank Adds Mortgage Processor

Commerce Bank is proud to introduce Vicky Wainman as its newest mortgage processor. Her main responsibilities include processing all retail and residential mortgage loans. She brings more than 25 years of banking experience and over 10 years of mortgage processing experience to the mortgage banking team.

Vicky is a native of Haubstadt, Indiana. She is a graduate of Gibson Southern High School and has attended both the University of Maryland and the University of Evansville. Vicky has been married to her husband Travis for over 22 years. They have two daughters, Abby and Ivy. When not working hard for clients, Vicky enjoys spending time with her family at sporting events, boating, and various outdoor activities.

Dana Clewlow-Bray

Commerce Bank Adds Operations and Commercial Loan Assistant

Commerce Bank is proud to introduce Dana Clewlow-Bray as its new Operations and Commercial Loan Assistant. Her main responsibilities include assisting with the operations departments with both deposits and lending. Clewlow-Bray brings over 20 years of additional banking experience to the Commerce Bank team.

Dana was raised in the Evansville area and she graduated from the University of Southern Indiana. She and her husband, James, have been married for over 18 years. In her leisure time, she enjoys swimming, cycling and running with the members of the Southern Indiana Triathlon Team.

Commerce Bank President Published in Hoosier Banker Magazine

The following article by Commerce Bank president and CEO Luke Yaeger was featured in the March/April 2019 edition of
Hoosier Banker Magazine.

If there is one word that can describe community banking, it probably would be “dynamic.” As with any small business, job No. 1 for a community banker is “duties as may be assigned from time to time.” That may include taking out the trash or helping an elderly client park a vehicle.

Additionally, an important part of my job as president and CEO of Commerce Bank is to ensure a mutual understanding among all levels of our team. Every rung of our constituency groups – from shareholders, to board members, to associates, to the community as a whole – needs to hear consistent messaging and understand where we are on the roadmap.

My entry into banking came 17 years ago, following small business experience while studying at Austin Peay State University in Tennessee. After some work during college framing houses and other construction duties, I had the chance to co-own a landscaping business with a fraternity brother.

What we learned as small business owners was that we could differentiate ourselves through simple steps. We made it a point to be cheerful, to communicate clearly, and to leave each client’s yard spotless. These small things helped make us stand out, and I’ve always remembered that lesson.

Later, as I was preparing to graduate from college, some other fraternity brothers who had started a local bank – which later sold to Old National Bank – suggested that I go into commercial banking. So I entered into banking, wanting to learn about other businesses and the technical side of putting a deal together.

I was looking for an opportunity to be entrepreneurial, and that opportunity came about when Tom Austerman, now chairman of the board of Commerce Bank, called me to say he was starting a bank in Evansville. That’s the happenstance of how I found a home in banking.

I view this industry as a service calling, which is very important to me. My father, grandfather and uncle were all in the U.S. Army and highly service-driven. I also am aware of and appreciate the sacrifice of current servicemen and women, who lace up their boots every day for the benefit of others.

Frankly, when I was first deciding on a career, I felt a certain level of inferiority relative to those serving in the military. It wasn’t until I talked with a mentor, who was in the banking business, that I began to look at the industry through a different lens.

I refocused my perspective and came to see that banking plays an important part of our country’s success. It provides the tools for folks to realize their dreams of sending their kids to college, or starting a business from scratch, or living out their golden years in happy retirement.

One of the things that I enjoy about banking is that it is a people business with a strong community focus. The notion that a rising tide lifts all ships may be more appropriate to banking than any other occupation. We have a responsibility to be involved in our communities.

At Commerce Bank, we’re fortunate that most of our associates find ways to get involved in community endeavors that tug at their heartstrings. For me, I’ve enjoyed my involvement with a variety of organizations, including the Southwest Indiana Chamber of Commerce, Rotary Club of Evansville, Junior Achievement of Southwest Indiana, and Tudela Futbol Club in Evansville.

I also am involved with the Indiana Bankers Association, including its Future Leadership Division. My interest with the IBA stems primarily from the advocacy perspective, because public policy has always been intriguing to me.

The IBA has been a helpful conduit, exposing me and others to priorities that are elevating around us, be they at the local, state or federal levels. The business of banking is all about relationships, and the IBA has given me the opportunity to get to know policymakers and banking peers who share an interest in advocacy.

Another area of community involvement is showing the next generation what it’s like to be in a professional career setting. There is a bit of a mystique toward what we as bankers do all day, every day, so my associates and I go out into the community to talk with young people. We challenge them to think about reaching for a higher calling, over and above earning a paycheck. Banking is a field where you can do both – earn a living and take care of your community.

In addition to finding my calling through banking, I am blessed with a wonderful home life. My wife Emily and I are parents to two girls, ages 9 and 11, who demonstrate unique talents of their own. Our oldest daughter is a ballet dancer, drawn to creativity and the arts, and our youngest is an avid soccer player … who also swings a golf club pretty well!

Emily, too, is very active in the community, especially through the YMCA. She has a background in retail and some banking, but after the girls came along, she reset her priorities and has turned her talents to professional photography.

There’s rarely a dull moment in our household, and the same holds true for banking. Thank you for the opportunity to serve on the IBA board of directors, and I also would like to thank the board of Commerce Bank for their support. I look forward to learning and growing from this new experience with the IBA, and getting to know more of my banking peers across Indiana.

Luke Yaeger Named to the 2019 Indiana Bankers Association Board

Commerce Bank is proud to announce the appointment of Luke Yaeger to the Indiana Bankers Association board for 2019. Luke will serve as a director for the Southwest Region of the IBA. The IBA’s mission is to advocate for and sustain an environment in which banks can succeed. They also provide exemplary service to members as the premier state bank trade association in the country.

Yaeger has over 15 years of experience in banking and civic involvement. He holds a Bachelor of Science degree in business management from Austin Peay State University in Clarksville, TN where he also graduated from the President’s Emerging Leaders Program. He also holds a Master’s in Business Administration from the University of Southern Indiana in Evansville, IN. Mr. Yaeger is also a graduate of Louisiana State University’s Graduate School of Banking in Baton Rouge, LA. 

He was part of the founding associates of Commerce Bank in 2006. In August of 2014 he was promoted to his current position of President and CEO of Commerce Bank.