A major bank rater downgraded Tucson-based Commerce Bank of Arizona to “troubled” in its first-quarter assessment.
The financial health of Arizona’s banks continued to improve in the last quarter of 2013, though the state’s ratings still trailed the nation’s, the most recent ratings from Bauer Financial show.
Two Tucson-based community banks are raising money to shore up their balance sheets as they continue to work out commercial-loan problems in the lingering aftermath of the recession.
Tucson-based Commerce Bank of Arizona has called off its planned merger with a Scottsdale bank, citing regulatory delays.
A Tucson bank is poised to merge with a Scottsdale bank this summer.