Mercantile Bancorp Completes HNB Bank and Perry State Bank Consolidation

QUINCY, IL, Sep 05 (MARKET WIRE) --
Mercantile Bancorp, Inc. (AMEX: MBR) announced today it has received
regulatory approval to combine its two Missouri-chartered banks, Perry
State Bank, with HNB National Bank, a wholly owned subsidiary of HNB
Financial Services, Inc., all entities wholly owned by Mercantile. As of
this date, Perry State Bank's five facilities are now HNB National Bank
locations. Remaining operational and other necessary changes will
continue to take place over the weekend and new HNB signage will be
installed in the coming weeks.

In 2007, Mercantile announced its intent to seek approval to consolidate
Perry State Bank under the HNB National Bank name. The combined operations
will account for more than $350 million in assets with ten full-service
locations, serving the Missouri communities of Hannibal, Palmyra, Monroe
City, Perry, Bowling Green, Troy and Wentzville. Ronald B. Verdier
remains president and CEO of HNB National Bank and Glen A. Bailey,
formerly president of Perry State, is now HNB National Bank's regional
president.

"We have been anticipating and carefully planning for this unification to
ensure the transition is as seamless as possible," explained Ted T.
Awerkamp, President and CEO of Mercantile Bancorp. "Employees and
management at both Perry State and HNB are enthusiastic and have done an
outstanding job working together to coordinate their efforts. Customers of
both banks have been very positive, understanding they will continue to
receive the same excellent customer care and dealing with the same
bankers. Both of these banks perform and serve their communities well,
and as one bank will become the preeminent banking franchise in northeast
Missouri."

Awerkamp noted the holding company expects the consolidation to generate
operational efficiencies and regulatory and compliance expense savings.

About Mercantile Bancorp

Mercantile Bancorp, Inc. is a Quincy, Illinois-based bank holding company
with majority-owned subsidiaries consisting of three banks in Illinois,
one bank in Missouri and one bank in each of Kansas and Florida, where the
Company conducts full-service commercial and consumer banking business,
engages in mortgage banking, trust services and asset management, and
provides other financial services and products. The company operates a
loan production office in Indiana. In addition, the Company has minority
investments in nine community banks in Missouri, Georgia, Florida,
Colorado, California and Tennessee. Further information is available on
the company's website at http://www.mercbanx.com.

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results may be materially different from those described in these
forward-looking statements. The forward-looking statements in this
release speak only as of the date of the release, and we do not assume
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