EXHIBIT 3.1
 BY-LAWS
 OF
 MERCANTILE BANCORP, INC.
  Restated and Adopted June 16, 2009




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BY-LAWS
 OF
 MERCANTILE BANCORP, INC.
  Restated and Adopted June 16, 2009
 ARTICLE I
    
    Offices and RecordsARTICLE II
    
    Corporate SealARTICLE III
    
    ShareholdersARTICLE IV
    
    DirectorsARTICLE V
    
    OfficersARTICLE VI
    
    Shares of StockARTICLE VII
    
    IndemnificationARTICLE VIII
    
    General Provisions




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ARTICLE I  Offices and Records
 Section 1. Registered Office and Registered Agent.
 Section 2. Corporate Offices.
 Section 3. Records.
 Section 4. Inspection of Records.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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ARTICLE II  Corporate Seal
 Section 1. Corporate Seal.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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ARTICLE III  Shareholders
 Section 1. Place of Meetings.
 Section 2. Annual Meeting
 Section 3. Special Meetings.
  Section 4. Action in Lieu of Meeting.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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provided, however,
 Section 5. Notice of Meetings
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 6. Presiding Officials.
 Section 7. Waiver of Notice.
 Section 8. Business Transacted at Annual Meetings
 Section 9. Business Transacted at Special Meetings.
 Section 10. Quorum
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 11. Proxies
 Section 12. Voting
  By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 13. Registered Shareholders
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 14. Shareholder List.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 15. Removal of Directors.
 Section 16. Nomination of Directors.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 17. Proposals for Annual Meeting.
 ARTICLE IV  Directors
 Section 1. Qualifications and Number.
  By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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75
 Section 2. Powers of the Board
 Section 3. Annual Meeting of the Board, Notice.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 4. Regular Meetings, Notice
 Section 5 . Special Meetings, Notice
  By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 6. Action in Lieu of Meetings.
 Section 7. Meeting by Conference Telephone or Similar Communications Equipment.
 Section 8. Quorum.
   Section 9. Waiver of Notice; Attendance at Meeting
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 10. Vacancies.
 Section 11. Executive Committee
  By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 12. Other Committees
  Section 13. Compensation of Directors and Committee Members.
 Section 14. Protection of Director for Reliance on Corporate Records.
 Section 16. Advisory Directors.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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ARTICLE V  Officers
 Section 1. OfficersWho Shall Constitute.
   Section 2. Term of Office
 Section 3. Appointment of Officers and Agents  Terms of Office
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 4. Removal.
 Section 5. Salaries and Compensation.
 Section 6. Delegation of Authority to Hire, Discharge, Etc.
 Section 7. The Chairman of the Board.
 Section 8. The President.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 9. Vice Presidents.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 10. The Secretary and Assistant Secretaries.
       Section 11. The Treasurer and Assistant Treasurers.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 12. Bond.
 Section 13. Checks and Other Instruments.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 14. Duties of Officers May be Delegated.
 ARTICLE VI  Shares of Stock
 Section 1. Payment for Shares of Stock.
 Section 2. Shares of Stock.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 3. Stock Certificates.
 Section 4. Lost or Destroyed Certificates.
 Section 5. Transfers of Stock.
 Section 6. Record Date.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 7. Fractional Share Interests or Scrip.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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ARTICLE VII  Indemnification
 Section 1. Third Party Actions.
 Section 2. Actions By or in the Right of the Corporation.
 Section 3. Indemnity if Successful.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 4. Standard of Conduct.
 Section 5. Expenses.
 Section 6. Nonexclusivity.
 Section 7. Further Indemnity Permissible.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 8. Insurance.
 Section 9. Corporation
 Section 10. Other Definitions.
 Section 11. Indemnity for Agents and Employees.
 By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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ARTICLE VIII  General Provisions
 Section 1. Fixing of Capital, Transfers of Surplus.
      Section 2. Dividends.
  By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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Section 3. Creation of Reserves
 Section 4. Fiscal Year.
 Section 5. Notices.
 Section 6. Amendments to By-laws.
 75
  By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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CERTIFICATE
 th
 th
 /s/ Dan S. DuganDan S. DuganChairman of the Meeting/s/ Ted T. AwerkampTed T. AwerkampSecretary of the Meeting By-Laws of Mercantile Bancorp, Inc. Restated and Adopted June 16, 2009
    
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