Business & Finance
Business and Finance
Business and Finance
Thu, July 23, 2009
Wed, July 22, 2009 Mercantile Bancorp: Mercantile Bancorp, Inc. Elects Michael J. Foster as New Board Chairman
QUINCY, IL--(Marketwire - July 22, 2009) - Mercantile Bancorp, Inc. (
Mr. Foster has been a member of the company's board since May 2003. He has served on several board committees, including the audit, compensation, and nominating committees. Foster succeeds Dan S. Dugan, who recently retired as board chairman but remains active in an advisory capacity.
"I am very honored to accept this new board leadership role," Foster said. "Despite these trying economic times, this organization has shown tremendous fortitude. It is comprised of many talented people at every level who are dedicated to serving the financial needs of its communities, and as chairman, I look forward to helping guide it through both its challenges and the tremendous opportunities ahead."
Foster is a retired agribusiness executive. He was President of ADM Alliance Nutrition, Inc. ("ADM Alliance"), a subsidiary of Archer-Daniels-Midland Company, from 1998 through 2004. ADM Alliance is headquartered in Quincy, Illinois, and manufactures and sells livestock feeds nationally and internationally.
"We are very pleased that Mr. Foster has been elected chairman and look forward to his stewardship," states Ted T. Awerkamp, President and CEO. "He has extensive corporate leadership experience, and the board has complete confidence in his long-term, fundamental approach."
About Mercantile Bancorp
Mercantile Bancorp, Inc. is a Quincy, Illinois-based bank holding company with majority-owned subsidiaries consisting of three banks in Illinois and one each in Missouri, 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 a Mercantile Bank branch office in Indiana. In addition, the Company has minority investments in eight community banks in Missouri, Georgia, Florida, Colorado, California and Tennessee.
Forward-Looking Statements
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