Mercantile Bancorp Names Lee R. Keith Interim President and CEO

Mercantile Bancorp, Inc.

today announced Lee R. Keith has been appointed, effective today, as the acting and interim President and CEO of Mercantile Bancorp, Inc. (and Chairman of Mercantile Bank. The appointment is contingent on the approval of the Federal Deposit Insurance Corporation and Federal Reserve Bank. Keith replaces Ted T. Awerkamp, who has served as President and CEO of the Company and as Chairman of Mercantile Bank since 2007. Keith has been a director of the Company and Mercantile Bank since 2009 and will continue in that role.