Attached files
file | filename |
---|---|
8-K - FORM 8-K - Mercantile Bancorp, Inc. | c62170e8vk.htm |
Exhibit 99.1
MERCANTILE BANCORP STATES THAT ITS POLICY IS NOT
TO COMMENT ON UNUSUAL STOCK PRICE ACTIVITY
TO COMMENT ON UNUSUAL STOCK PRICE ACTIVITY
Quincy, IL, January 6, 2011 In view of the unusual market activity in the common stock of
Mercantile Bancorp (NYSE Amex: MBR), the NYSE has contacted the Company in accordance with its
usual practice; the Company stated that it is company policy not to comment on unusual market
activity.
Investor Relations Update
In addition to notification of shareholder materials, shareholders and those who wish to closely
follow Company news may now enroll to receive email notice of news and updates at the time of
release. Register at the Companys website or directly at the following address:
http://www.mercbanx.com/shareholders/enroll.php.
About Mercantile Bancorp
Mercantile Bancorp, Inc. is a Quincy, Illinois-based bank holding company with majority-owned
subsidiaries consisting of one bank in each of Illinois, Kansas, and Florida, where the Company
conducts full-service commercial and consumer banking business, engages in mortgage banking, trust
services and asset management, and provides other financial services and products. The Company also
operates Mercantile Bank branch offices in Missouri and Indiana. In addition, the Company has
minority investments in six community banks in Missouri, Georgia, Florida, Colorado, California,
and Tennessee. Further information is available on the companys website at
www.mercbanx.com.
Forward-Looking Statements
This press release may contain forward-looking statements which reflect the Companys current
views with respect to future events and financial performance. The Private Securities Litigation
Reform Act of 1995 (the Act) provides a safe harbor for forward-looking statements that are
identified as such and are accompanied by the identification of important factors that could cause
actual results to differ materially from the forward-looking statements. For these statements, the
Company, together with its subsidiaries, claims the protection afforded by the safe harbor in the
Act. Forward-looking statements are not based on historical information, but rather are related to
future operations, strategies, financial results or other developments. Forward-looking statements
are based on managements expectations as well as certain assumptions and estimates made by, and
information available to, management at the time the statements are made. Those statements are
based on general assumptions and are subject to various risks, uncertainties and other factors that
may cause actual results to differ materially from the views, beliefs and projections expressed in
such statements. Examples of forward-looking statements include, but are not limited to, estimates
or projections with respect to our future financial condition, results of operations or business,
such as: projections of revenues, income, earnings per share, capital expenditures, assets,
liabilities, dividends, capital structure, or other financial items; descriptions of plans or
objectives of management for future operations, products, or services, including pending
acquisition transactions; forecasts of future economic performance; and descriptions of assumptions
underlying or relating to any of the foregoing. These risks, uncertainties and other factors that
may cause actual results to differ from expectations, are set forth in the Companys Annual Report
on Form 10-K for the year ended December 31, 2009 and Forms 10-Q for the quarters ended March 31,
2010, June 30, 2010, and September 30, 2010, as on file with the Securities and Exchange
Commission, and include, among other factors, the following: the anticipated effects of the
restatement described above are preliminary and may be subject to change as the Company completes
its analysis; the effects of current and future business and economic conditions in the markets we
serve change or are less favorable than we expected; deposit attrition, operating costs, customer
loss and business disruption are greater than we expected; competitive factors, including product
and pricing pressures among financial services organizations may increase; the effects of changes
in interest rates on the level and composition of deposits, loan demand, the values of loan
collateral, securities and interest sensitive assets
4
and liabilities may lead to a reduction in our net interest margins; changes in market rates and
prices may adversely impact our securities, loans, deposits, mortgage servicing rights, and other
financial instruments; the legislative or regulatory developments, including changes in laws and
regulations concerning taxes, banking, securities, insurance and other aspects of the financial
securities industry, such as the recently enacted Dodd-Frank Wall Street Reform and Consumer
Protection Act, and the extensive rule making it requires to be undertaken by various regulatory
agencies may adversely affect our business, financial condition and results of operations; personal
or commercial bankruptcies increase; our ability to expand and grow our business and operations,
including the establishment of additional branches and acquisition of additional banks or branches
of banks may be more difficult or costly than we expected; any future acquisitions may be more
difficult to integrate than expected and we may be unable to realize any cost savings and revenue
enhancements we may have projected in connection with such acquisitions; changes in accounting
principles, policies or guidelines; credit risks, including credit risks resulting from the
devaluation of collateral debt obligations and/or structured investment vehicles on the capital
markets to which we currently have no direct exposure; the failure of assumptions underlying the
establishment of our allowance for loan losses; construction and development loans are based upon
estimates of costs and value associated with the complete project, which estimates may be
inaccurate, and cause us to be exposed to more losses on these projects than on other loans;
changes that occur in the securities markets; technology-related changes may be harder to make or
more expensive than we anticipated; worldwide political and social unrest, including acts of war
and terrorism; and changes in monetary and fiscal policies of the U.S. government, including
policies of the U.S. Treasury and the Federal Reserve Board. The words believe, expect,
anticipate, project, and similar expressions often signify forward-looking statements. You
should not place undue reliance on any forward-looking statements. Any forward-looking statements
in this release speak only as of the date of the release, and the Company does not assume any
obligation to update the forward-looking statements or to update the reasons why actual results
could differ from those contained in the forward-looking statements.
5