Profile: Mercantile Bancorp Inc (MBR)

Mercantile Bancorp, Inc., incorporated on April 15, 1983, is a multi-state bank holding company. The Company, through its subsidiaries, conducts a full service consumer and commercial banking business, which includes mainly deposit gathering, safekeeping and distribution; lending for commercial, financial and agricultural purposes, real estate purposes (including farmland, construction and mortgages), and consumer purposes; and asset management including trust, estate and agency management, retail brokerage services, and agricultural business management. Approximately 76% of the Company’s revenues are derived on average annually from its subsidiaries’ lending activities. The other principal revenue sources are interest and dividends on investment securities with approximately 9% of revenue on average, service charges and fees on customer accounts with approximately 5% of revenue on average, and all asset management services combined with approximately 4% of revenue on average. As of December 31, 2008, the Company’s banking subsidiaries include Mercantile Bank, located in Quincy, Illinois; Marine Bank & Trust (Marine Bank), located in Carthage, Illinois; Brown County State Bank (Brown County), located in Mt. Sterling, Illinois; Royal Palm Bancorp, Inc. (Royal Palm), and HNB Financial Services, Inc. (HNB Financial).

Mercantile Bank

Mercantile Bank offers complete banking and trust services to the commercial, industrial and agricultural areas that it serves. Services include commercial, real estate and personal loans; checking, savings and time deposits; trust and other fiduciary services; brokerage services, and other customer services, such as safe deposit facilities. The largest portion of Mercantile Bank’s lending business is related to the general business and real estate activities of its commercial customers, followed by residential mortgage loans. Mercantile Bank’s principal service area includes the City of Quincy and Adams County, Illinois. In addition, Mercantile Bank owns and operates three branches, one drive-through facility, and nine automatic teller machines in Quincy, owns and operates one full-service banking facility in each of Savannah and St. Joseph, Missouri, and leases one full-service banking facility in St. Joseph. In addition, Mercantile has four automatic teller machines located in Savannah and St. Joseph.

Mercantile Bank wholly owns Mercantile Investments, Inc. (MII). The sole activity of the subsidiary is to invest in securities, including corporate debentures. Mercantile Bank owns a 6.35% interest in Illinois Real Estate Title Center, LLC (IRETC), an multi-bank-owned limited liability company that operates a title insurance agency. IRETC engages in the sale and issuance of commercial and residential, owner and mortgagee title insurance policies.

Marine Bank & Trust

Marine Bank offers banking and trust services to the commercial, industrial and agricultural areas that it serves. Services include commercial, real estate and personal loans; checking, savings and time deposits; trust and other fiduciary services; brokerage services and safe deposit facilities. The largest portion of Marine Bank’s lending business is related to commercial and agricultural customers. Marine Bank’s principal service area includes the villages of Carthage, Hamilton and Augusta, Hancock County, Illinois; portions of northeastern Adams County, western Schuyler County and southwestern McDonough County, all in Illinois; and the City of Keokuk and Lee County, Iowa.

Brown County State Bank

Brown County offers banking services to the commercial, industrial and agricultural areas that it serves. Its full-service branch in Golden was formerly a separately chartered bank (Golden State Bank) until its merger with and into Brown County in July 2006. Services include commercial, real estate and personal loans; checking, savings and time deposits; brokerage services; safe deposit facilities, and other customer services. The largest portion of Brown County’s lending activity involves agricultural operating and real estate loans; however, residential mortgage loans also represent a significant portion of the bank’s lending activities. Brown County’s principal service area includes the village of Mt. Sterling and Brown County, the village of Camp Point and Adams County, and a portion of southern Hancock County, all in Illinois.

Mid-America Bancorp, Inc

Mid-America Bancorp, Inc. (Mid-America), parent company of Heartland Bank (Heartland), offers banking services to the commercial and retail areas that it serves. Services include commercial, real estate and personal loans; checking, savings and time deposits; brokerage services, safe deposit facilities and other customer services. The largest portion of Heartland’s lending business is related to the activities of its commercial customers. Heartland’s principal service area includes greater Kansas City, primarily Johnson County in Kansas and Jackson County in Missouri. Mid-America represented $197.0 million or 11.1% of the Company’s pre-consolidated assets as of December 31, 2008.

Royal Palm Bancorp, Inc

Royal Palm parent company of The Royal Palm Bank of Florida (Royal Palm Bank) offers banking services to the commercial and retail areas that it serves. Services include commercial, real estate and personal loans; checking, savings and time deposits; safe deposit facilities, and other customer services. The largest portion of Royal Palm Bank’s lending business is related to the activities of its commercial customers. Royal Palm Bank’s principal service area includes the communities of Naples and Marco Island in Collier County, Florida and Fort Myers, Bonita Springs and Cape Coral in Lee County, Florida. Royal Palm represented approximately $177.7 million or 10.0% of the Company’s pre-consolidated assets as of December 31, 2008.

HNB Financial Services, Inc.

HNB Financial Services, Inc. (HNB Financial), parent company of HNB National Bank (HNB), offers complete banking services to the commercial and retail areas that it serves. Its full-service branches in Perry, Monroe City and Bowling Green, and Missouri. Services include commercial, real estate and personal loans; checking, savings and time deposits; trust and other fiduciary services; safe deposit facilities and other customer services. The largest portion of HNB’s lending business is related to the activities of its real estate customers. HNB’s principal service area includes the communities of Hannibal, Troy, Wentzville, Perry, Monroe City and Bowling Green, Missouri and the counties of Marion, Lincoln, St. Charles, Ralls, Monroe and Pike, Missouri.