Tennessee Commerce Bancorp has named Martin Zorn chief administrative officer, replacing Lamar Cox, the bank's founding CFO who had held the top administrative job since September 2005.
Zorn will start his new job next Monday and report to President Mike Sapp. He comes to Tennessee Commerce after spending more than eight years at Indiana-based Integra Bank Corp., a regional player with about $3.3 billion in assets that posted losses of almost $100 million in the first three quarters of this year. There, he had been CFO since April 2006 and COO since July 2008. He stepped down from those posts two Fridays ago.
“We are pleased to welcome Martin to the Tennessee Commerce executive team,” Sapp said. “His strong financial background and extensive experience in banking and finance strongly complement our business model. We are confident he will contribute appreciably to our continued growth and profitability.”
After graduating from Vanderbilt, Zorn began his banking career in Nashville in 1978 at the former Third National Bank. He then spent 21 years in various lines of business at Wachovia Bank North Carolina, Texas and Virginia.
Shares of Tennessee Commerce (Ticker: TNCC) closed Monday trading up about 1 percent at $4.22. They've fallen about 30 percent in 2009.