Court decision on Mercantile sale pushed back - WGEM.com: Quincy News, Weather, Sports, and Radio

Court decision on Mercantile sale pushed back

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A bankruptcy judge's decision on whether the sale of Quincy's Mercantile Bank can move forward has been delayed.

Delaware judge Kevin Carey was expected to make a decision Friday, but the hearing was continued until Tuesday, Sept. 24.

According to court records, as part of a Chapter Eleven sale, Mercantile Bancorp wants to sell the Quincy bank to United Community Bancorp.

Mercantile's top shareholders argued against the $23 million deal in court Monday, Sept. 16 saying it would result in a net loss.

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