Mercantile Bancorp., which snared a much-sought-after deal with Southwestern Bell a year and a half ago to market cobranded credit cards, has abandoned the program.

The St. Louis-based bank said Thursday that the program with the telephone company had been too costly. In its place, the bank unveiled a rewards program designed to generate interest income by targeting people who carry balances on their cards.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.