200 North 33rd Street
n/a
Quincey, IL 62301
UNITED STATES
Tel. (217) 223-7300
Fax. (217) 223-8938
Industry: Banks
On the web: http://www.mercbanx.com
Employees: 441
Mercantile Bancorp, Inc. was incorporated on April 15, 1983 for the purpose of enabling Mercantile Bank (formerly known as Mercantile Trust & Savings Bank), an Illinois banking Corporation, to operate within a bank holding company structure. 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. The Company's objective is to offer the commercial, agricultural, residential and consumer customers in its markets a variety of products and services, including a full array of loan products. The Company's bank subsidiaries make real estate loans (including farmland, construction and mortgage loans), commercial, financial and agricultural loans, and consumer loans. Farmland real estate loans are collateralized by owner-occupied and investment properties located in the Company's market areas. The Company's banks offer a variety of mortgage loan products that generally are amortized over five to twenty years. The loans generally have rates fixed for up to a five year period, with the loans either having an adjustable rate feature or a balloon at the maturity of the term. The Company's banks also make loans to finance the construction of residential and non-residential properties. Construction loans generally are secured by first liens on real estate. The Company's banks offer a variety of residential mortgage loan products that generally are amortized over five to twenty-five years. The Company provides a variety of consumer loans (also referred to in this report as installment loans to individuals) including motor vehicle, watercraft, education, personal (collateralized and non-collateralized) and deposit account collateralized loans. It operates in a competitive environment. Many of the Company's existing competitors are well-established, larger financial institutions with substantially greater resources and lending limits. As a registered bank holding company under the Bank Holding Company Act (the ‘BHC Act'), the Company is subject to regulation and supervision by the Board of Governors of the Federal Reserve System (the ‘FRB').
