News Release

Mercantile Bancorp, Inc. Acquires Heartland Bank of Leawood, Kansas

Quincy, IL -March 26, 2004 -- Mercantile Bancorp, Inc. recently received all necessary regulatory approvals to acquire up to 56.85% of the outstanding voting shares of Mid-America Bancorp, Inc., Leawood, Kansas, and thereby indirectly acquiring its subsidiary bank, Heartland Bank.

Heartland Bank, headquartered in Leawood, Kansas, has assets in excess of $60 million and operates a branch office in Jewell, Kansas. “Heartland Bank is a strong-performing bank that is located in one of the fastest growing communities outside of Kansas City,” says Dan S. Dugan, Chairman, President and CEO of Mercantile Bancorp, Inc. “We believe this bank has tremendous potential for future growth and profitability.”

The increased ownership of Heartland Bank represents just one of several solid investments in Midwestern banking companies located in prospering suburban communities. Other investments include New Frontier Bancshares, Inc. in St. Charles, MO, and NorthStar Bancshares, Inc. in Kansas City, MO.

Mercantile Bancorp, Inc., is a regional bank holding company headquartered in Quincy, Illinois, with total assets of $960 million. It is the parent company of Mercantile Trust & Savings Bank with five locations in Quincy; State Bank of Augusta, IL; Security State Bank of Hamilton, IL; Marine Bank & Trust of Carthage, IL; Perry State Bank in Perry, Monroe City, Bowling Green, and Hannibal, MO; Brown County State Bank, Mt. Sterling, IL; Golden State Bank, Golden, IL; and Farmers State Bank of Northern Missouri in Savannah and St. Joseph, MO.