Local leadership change at Commerce Bank aims to deepen ties with Peoria businesses
Commerce Bank Illinois announced on July 9, 2026 that it has promoted Axel Larson to the role of president in Peoria, and named Scott Swartzendruber as executive vice president and commercial banking division manager in Illinois. The bank said the moves will support client relationships and business growth across the region.
Larson, who has 19 years of banking experience and has spent the last nine years with Commerce Bank, previously led the bank’s commercial banking portfolio management team in Illinois. In his new role, he will direct local efforts in Peoria, focusing on client engagement and expanding the bank’s footprint in the community.
Swartzendruber, a 26-year Commerce Bank veteran, will be responsible for managing and growing the bank’s commercial banking business across Illinois. Both executives will join a team of local leaders including Chad Kirkenmeier, Pam Howe and Pam Craig to pursue statewide growth objectives.
“These promotions reflect the exceptional leadership, commitment, and contributions that Axel and Scott have demonstrated throughout their careers at Commerce Bank,”
Those words came from Brent Eichelberger, CEO of Commerce Bank Illinois, who noted the pair had built strong relationships with clients, team members and communities across the state.
What this means for Peoria
For Peoria-area businesses and nonprofit organizations that rely on local banking relationships, the appointment of a dedicated Peoria president signals a focused point of contact for lending, community partnerships and commercial services. Larson’s background in commercial portfolio management positions him to work directly with local commercial clients and bank colleagues to coordinate financing and services.
- Leadership continuity: Both promotions are internal moves from long-tenured Commerce Bank employees.
- Regional coordination: Swartzendruber’s statewide commercial role is intended to align Illinois offices, which may affect commercial lending practices.
- Local presence: Larson’s new role centralizes Peoria-focused bank leadership.
Commerce Bank’s announcement emphasized community involvement and client relationships as priorities for the newly named leaders. That focus may influence how the bank participates in local economic development initiatives, sponsorships and small-business support in Peoria.
| Executive | New Role | Experience at Commerce Bank |
|---|---|---|
| Axel Larson | President in Peoria | 9 years |
| Scott Swartzendruber | Executive VP & Commercial Banking Division Manager, Illinois | 26 years |
Local business leaders and customers seeking specifics about any changes to services, local branches or lending practices should contact Commerce Bank Illinois directly. The promotion underscores a trend among financial institutions to place experienced, locally focused executives in city-level roles to maintain client relationships and support regional growth.
As Peoria’s economy continues to evolve, banking relationships and access to commercial capital remain important to employers, developers and community organizations. The bank’s leadership changes will be watched by local borrowers and partners for any adjustments in product offerings, decision-making timelines and community engagement in the months ahead.
