After four consecutive quarterly losses, the depleted Mercantile Bancorp Inc. in Quincy, Ill., is exploring ways to recapitalize itself.

The $1.7 billion-asset company — which reported a $52 million second-quarter loss late Friday — said that its board has appointed a committee and hired advisers to develop strategic alternatives, such as finding investors to make a cash infusion and selling assets and noncore businesses.

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