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AMENDED AND RESTATED
 BY-LAWS
 OF
 MERCANTILE BANCORP, INC.
  Adopted July 9, 1999
Updated February 27, 2007




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AMENDED AND RESTATED
 BY-LAWS
 OF
 MERCANTILE BANCORP, INC.
  Adopted July 9, 1999
Updated March 20, 2006
 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.
 
 Page 1




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ARTICLE II  Corporate Seal
  ARTICLE III  Shareholders
 Section 1. Place of Meetings.
 
 Page 2




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Section 2. Annual Meeting
 Section 3. Special Meetings.
  Section 4. Action in Lieu of Meeting. provided, however,
 
 Page 3




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Section 5. Notice of Meetings
 Section 6. Presiding Officials.
 Section 7. Waiver of Notice.
 
 Page 4




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Section 8. Business Transacted at Annual Meetings
 Section 9. Business Transacted at Special Meetings.
 Section 10. Quorum
 Section 11. Proxies
 
 Page 5




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Section 12. Voting
       
 Page 6




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Section 13. Registered Shareholders
    
 Page 7




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Section 14. Shareholder List.
 Section 15. Removal of Directors.
 Section 16. Nomination of Directors
 
 Page 8




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Section 17. Proposals for Annual Meeting.
 ARTICLE IV  Directors
 Section 1. Qualifications and Number
 
 Page 9




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75
 Section 2. Powers of the Board
 Section 3. Annual Meeting of the Board, Notice.
 
 Page 10




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Section 4. Regular Meetings, Notice
 Section 5 . Special Meetings, Notice
  
 Page 11




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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
 
 Page 12




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Section 10. Vacancies.
 Section 11. Executive Committee
  Section 12. Other Committees
 
 Page 13




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Section 13. Compensation of Directors and Committee Members.
 Section 14. Protection of Director for Reliance on Corporate Records.
 Section 16. Advisory Directors.
 
 Page 14




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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
 Section 4. Removal.
 Section 5. Salaries and Compensation.
 
 Page 15




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Section 6. Delegation of Authority to Hire, Discharge, Etc.
 Section 7. The Chairman of the Board and the President.
    
 Page 16




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Section 8. Vice Presidents.
 Section 9. The Secretary and Assistant Secretaries.
     
 Page 17




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Section 10. The Treasurer and Assistant Treasurers.
      Section 11. Bond.
 
 Page 18




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Section 12. Checks and Other Instruments.
 Section 13. Duties of Officers Maybe Delegated.
 ARTICLE VI  Shares of Stock
 Section 1. Payment for Shares of Stock.
 Section 2. Certificates for Shares of Stock.
 
 Page 19




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Section 3. Lost or Destroyed Certificates.
 Section 4. Transfers of Shares, Transfer Agent, Registrar.
 Section 5. Record Date.
 
 Page 20




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Section 6. Fractional Share Interests or Scrip.
 ARTICLE VII
 
 Page 21




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Indemnification
 Section 1. Third Party Actions.
 Section 2. Actions By or in the Right of the Corporation.
 Section 3. Indemnity if Successful.
 
 Page 22




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Section 4. Standard of Conduct.
 Section 5. Expenses.
 Section 6. Nonexclusivity.
 Section 7. Further Indemnity Permissible.
 
 Page 23




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Section 8. Insurance.
 Section 9. Corporation
 Section 10. Other Definitions.
 Section 11. Indemnity for Agents and Employees.
 
 Page 24




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ARTICLE VIII  General Provisions
 Section 1. Fixing of Capital, Transfers of Surplus.
      Section 2. Dividends.
  Section 3. Creation of Reserves
 Section 4. Fiscal Year.
 
 Page 25




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Section 5. Notices.
 Section 6. Amendments to By-laws.
 75
  
 
 Page 26




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CERTIFICATE
   /s/ Dan S. DuganDan S. DuganChairman of the Meeting/s/ Ted T. AwerkampTed T. AwerkampSecretary of the Meeting
 
 Page 27