Mercantile Bancorp Receives Exchange Listing Extension From NYSE Amex, LLC

Mercantile Bancorp, Inc. MBR today reported it had received notice on July 18, 2011 from NYSE Amex, accepting the Company's plan of compliance and granting an extension. The letter indicates the Company remains below certain of the NYSE Amex's continued listing standards regarding stockholders' equity, losses from continuing operations, and net losses in recent fiscal years, as set forth in Sections 1003(a)(i), (ii) and (iv) of the Company Guide, as first reported on April 29, 2011. The Company was afforded the opportunity to submit a plan of compliance to the Exchange. Based on a review of the information presented by the Company, as well as ongoing conversations with Company representatives, the Exchange has notified the Company that it accepted the Company's plan of compliance and granted the Company an extension. The Exchange has determined that, in accordance with Section 1009 of the Company Guide, the Company has made a reasonable demonstration of its ability to regain compliance with Sections 1003(a)(iv) of the Company Guide by January 17, 2012, and Section 1003(a)(i) and (ii) of the Company Guide by October 24, 2012. The continued listing is subject to various conditions, including the completion of a sale or significant progress toward a sale by the Company of certain assets by September 30, 2011, completion of a capital raising transaction as required by applicable banking regulators by December 31, 2011, and other financial improvements.