Mercantile Bancorp Executes Merger of Farmers State Bank Into Mercantile Bank 
Streamlined Operation to Further Mercantile Brand Recognition in Key Markets 

QUINCY, Ill., April 21 /PRNewswire-FirstCall/ -- Mercantile Bancorp, Inc. (AMEX:MBR) , the bank holding company for Mercantile Bank and Farmers State Bank of Northern Missouri, today announced it has received regulatory approval for the merger of Farmers into Mercantile, and successfully executed the merger on April 18. Farmers' locations in Savannah and St. Joseph, Missouri will operate as full-service branches of Mercantile Bank when they open April 21.

   Mercantile Bancorp acquired Farmers in 1999 and has spent much of the last year preparing Farmers' employees and customers for a smooth transition through the merger. Farmers' David W. DeShon will remain regional president reporting to Mercantile Bank President and CEO H. Blaine Strock.

   "Savannah and St. Joseph, Missouri are very similar communities to our Quincy, Illinois headquarters," explained Ted T. Awerkamp, Mercantile Bancorp's President and CEO. "This transition makes considerable business sense from an operational standpoint, and with the talent we have recently recruited from that area to join our team in specific business lines, the collective efforts of this franchise will propel Mercantile Bank to new heights. The integration of Farmers' operations into Mercantile Bank is well advanced, and the greater operating efficiency and added growth will be noticeable.

   "In addition, Farmers has been a leader in our group in developing a template for providing brokerage management services. That expertise, coupled with the quality trust services business-line in place for Mercantile Bank, will grow our total asset management services to complement the core banking business in these markets, resulting in continued growth for the franchise."

   Upon completion of the merger, Mercantile Bank will exceed $710 million in total assets with five branches in Quincy, Illinois, two branches operating in St. Joseph and one in Savannah, Missouri.