22 Jan 2022

Laredo EDC welcomes Ignacio Urrabazo, Jr. as New Chairman of the Board

The Laredo Economic Development Corporation Board of Directors has selected Mr. Ignacio Urrabazo, Jr. as Chairman of the Board for 2022.

With more than 50 years of banking experience, including 37 years as President of Laredo’s Commerce Bank. Mr. Urrabazo has guided and grown the bank from a startup in 1983 to more than $670 million in total assets. 

Mr. Urrabazo has been the chairman of both the National Bankers Association and the Texas Bankers Association. The TBA is the largest and most powerful state banking organization in the country. Mr. Urrabazo is also a former Chairman of the Laredo Chamber of Commerce and the South Texas Small Business Development Council at UTSA. He is also the current Chairman of the MinBanc Foundation in Washington, DC. 

He has also been involved in U.S.-Mexico border financial services and relationships since taking a leadership role in the creation of the Bank. Commerce Bank is part of International Bancshares Corporation, a $15.7 billion financial holding company and the largest Hispanic minority-owned bank in the country. Mr. Urrabazo is currently involved in the Compliance Review Committee, Retail Loan Committee and is heading the CRA Committee and the Small Business Committee including the PPP Program for the holding company. 

The Marine Corps veteran earned his bachelor’s degree at the University of Texas-El Paso, where he is a Distinguished Alumnus, his MBA degree at the University of Texas-San Antonio, and a graduate banking degree at Southern Methodist University in Dallas. 

Mr. Urrabazo said, “It is with pleasure and great honor that I can contribute to the Laredo Economic Development Corporation in its important role of attracting new businesses to our city. The mission is to create jobs and improve our standard of living in Laredo, Texas.” 

Gene Lindgren, LEDC President & CEO stated, “We are very pleased to have Mr. Urrabazo as this year’s Chairman as he brings his vast experience and wisdom to our organization.  I also want to thank Lupita R. Canales for her great leadership over the last year and will continue to be involved in the board.”