MERCANTILE BANK NAMES NEW EXECUTIVE

Lowell C. Peterson, formerly president of Mercantile Bank of Southeast Missouri-Mineral Area, is moving south.

Peterson has been named president of Mercantile Bank of Southeast Missouri-Cape Girardeau. He started his new duties there last week.

Peterson is replacing Craig Wells.

Peterson joined Mercantile about four years ago, but has been in banking more than 25 years. He has held a number of positions, including senior loan officer, chief operating officer and marketing officer, in banks throughout the state of Minnesota. Prior to joining Mercantile, he was managing officer of First Bank of Alexandria, Minn.

He was most recently president of Mercantile-Mineral Area at Farmington.

Mercantile Bank of Southeast Missouri-Cape Girardeau includes three banking operations in Cape Girardeau -- 325 N. Kingshighway, 3060 William, Town Plaza Shopping Center -- and an ATM at West Park Mall.

Peterson and his wife, Laurie, will be moving to Cape Girardeau in the near future.

"I'm looking forward to Cape Girardeau," said Peterson Saturday. "When you drive into the city you see all the retail centers and stores."

Cape Girardeau, Peterson observed, has river, rail, surface and air transportation facilities, and a good manufacturing base.

"It looks like a great community," he said.

Peterson, who has a bachelor of science degree form the University of Minnesota, and attended the Colorado School of Banking, was active in the Farmington community.

He served as a board member for the Missouri Banker's Association; president of the Farmington Chamber of Commerce; president of the Farmington United Way and vice-president of the Focus on Farmington Foundation.

In addition, Peterson was a board member of the Farmington Bicentennial Aerial Show and the Farmington Industrial Development Authority.

Mercantile Bank of Southeast Missouri-Cape Girardeau is an affiliate of Mercantile Bancorporation Inc., a $30 billion, multi-bank holding company headquartered in St. Louis. Mercantile Bancorporation operates banks in more than 500 locations throughout Missouri, Illinois, Kansas, Iowa, and Arkansas.