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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 X314rNQoC8VnF/xiWQIJBw==

<SEC-DOCUMENT>0001179110-06-022258.txt : 20061122
<SEC-HEADER>0001179110-06-022258.hdr.sgml : 20061122
<ACCEPTANCE-DATETIME>20061122124015
ACCESSION NUMBER:		0001179110-06-022258
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20061121
FILED AS OF DATE:		20061122
DATE AS OF CHANGE:		20061122

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATIONAL MERCANTILE BANCORP
		CENTRAL INDEX KEY:			0000714801
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				953819685
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1840 CENTURY PARK EAST
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
		BUSINESS PHONE:		3102772265

	MAIL ADDRESS:	
		STREET 1:		1840 CENTURY PARK EAST
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MONTGOMERY SCOTT A
		CENTRAL INDEX KEY:			0001258734

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13015
		FILM NUMBER:		061235357

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		310 282 6793

	MAIL ADDRESS:	
		STREET 1:		1840 CENTURY PARK EAST
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-11-21</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000714801</issuerCik>
        <issuerName>NATIONAL MERCANTILE BANCORP</issuerName>
        <issuerTradingSymbol>MBLA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001258734</rptOwnerCik>
            <rptOwnerName>MONTGOMERY SCOTT A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1880 CENTURY PARK E STE. 800</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LOS ANGELES</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90067</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President/CEO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock NPV</value>
            </securityTitle>
            <transactionDate>
                <value>2006-11-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>40875</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>13.16</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>36413</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Family Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Common Stock NPV</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.276</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-11-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>82692</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>5.276</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>1998-04-23</value>
            </exerciseDate>
            <expirationDate>
                <value>2007-10-03</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock NPV</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>82692</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>119105</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Family Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">These shares were sold in a private transaction to the principal shareholders of the Company.</footnote>
        <footnote id="F2">For several years, Reporting Person has held all shares of Issuer's stock in his family trust.  Reporting Person has indicated Indirect Ownership on this filing to properly report this form of ownership.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Scott A. Montgomery</signatureName>
        <signatureDate>2006-11-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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