TITLE

To Survive, Mercantile of Ill. Is Halving Its Lineup

AUTHOR(S)
Barba, Robert
PUB. DATE
November 2009
SOURCE
American Banker;11/25/2009, Vol. 174 Issue 212, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Mercantile Bancorp Inc. was reducing its roster of banks by half in order to survive the global financial crisis which began in 2008. Mercantile was selling Brown County State Bank and Marine Bank and Trust to United Community Bancorp Inc. It was also transferring HNB National Bank to R. Dean Phillip, the sole shareholder of Great River Bancshares Inc., in lieu of a $28 million debt payment.
ACCESSION #
45507394

 

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