by Stephanie Russo - Aug. 1, 2012 06:22 PM The Republic | azcentral.com

Former Arizona banking executive Gene Rice died on Monday.

Rice, 82, who died in Phoenix, ran MeraBank, the state's largest savings and loan, until 1990, when the failed thrift was taken over by the federal Resolution Trust Co. Rice's uncle founded the thrift in 1936 as First Federal Savings. Rice was a longtime executive and began serving as the chief executive officer in 1984.

In later years, Rice ran a commercial brokerage business, Gene Rice Financial. He also had a small mortgage company and owned another business that sold bank-card processing equipment to small businesses.

He was an active consultant, financial adviser and mentor during his retirement. Arizona House Speaker Andy Tobin said Rice's mentoring encouraged people to finish college, join community service groups and continually work hard. He said Rice pushed his employees and friends to "aspire to great heights."

"In the days when our communities were planning Arizona's future, when leaders were needed to support local charities and inspire young people to build a greater Arizona, we were all fortunate enough to have Gene Rice fill that need," Tobin said in a statement released Tuesday.

A memorial service will be held for Rice on Thursday at 1:30 p.m. at St. Francis Xavier, 4715 N. Central Ave., Phoenix.

In lieu of flowers, the family requested that donations be made to the Inflammatory Breast Cancer Research Foundation.

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Longtime banker Gene Rice dies

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