News Release

Mercantile Bancorp, Inc. to Trade its Stock On American Stock Exchange

QUINCY, Il. --(BUSINESS WIRE)--Feb. 17, 2005-- Mercantile Bancorp, Inc., (OTCBB: MBCI), a multi-bank holding company based in Quincy, Illinois, announced today that it has received effective status with the United States Securities and Exchange Commission for its registration of the company's common stock under the federal Securities Exchange Act of 1934. Concurrent to receiving effective status, the stock was approved for listing by, and will begin trading on, the American Stock Exchange effective at 8:30 CST, February 28, 2005 under the ticker symbol MBR.

No additional shares of the company's common stock are being issued in connection with this registration and listing.

Dan S. Dugan, Chairman, President and CEO of the Company, said, “We are very pleased to be able to receive approval for listing on the American Stock Exchange. We believe that our current and future shareholders will benefit from the specialist system in place there, from the heightened profile that the listing gives our stock and from the greater liquidity we expect from trading on the Amex.”

Mercantile Bancorp, Inc. is a multi-state bank holding company headquartered in Quincy, Illinois. At September 30, 2004, the company managed total assets in excess of $1.022 billion and total deposits over $858 million. Through its majority-owned subsidiaries, now consisting of 6 banks in Illinois, 2 banks in Missouri and 1 bank in Kansas, the company conducts full-service commercial and consumer banking business, engages in mortgage banking, trusts services, and asset management, and provides other financial services and products. In addition, the company has minority investments in 4 community banks in Missouri, Georgia and Florida. Further information is available on the company's website at www.mercbanx.com .

Approval to trade the stock on the American Stock Exchange is contingent upon compliance to all applicable Exchange listing standards on the date it begins trading.

This release contains information and “forward-looking statements” that relate to matters that are not historical facts and which are usually preceded by the words “may,” “will,” “should,” “could,” “would,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “except,” “target” and similar expressions. These forward-looking statements are subject to significant risks, assumptions and uncertainties. Because of these and other uncertainties, our actual 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 any obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contained in the forward-looking statements.

Questions regarding this information should be directed to Mr. Dugan at (217) 223-7300, or by e-mail at investor.relations@mercbanx.com