SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) OCTOBER 23, 1996
JACKSONVILLE BANCORP, INC.
TEXAS 0 - 28070 75-2632781
(State of Incorporation) (Commission File No.) (IRS No)
COMMERCE AND NECHES STREET JACKSONVILLE, TEXAS 75766
(Address of Principal Executive Offices) (Zip Code)
(903) 586-9861
(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
(Former Name or Former Address, If Changed Since Last Report)
Item 5. OTHER EVENTS
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Not applicable
(b) Not applicable
(c) Exhibits:
(99) Press Release, dated October 23, 1996
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
JACKSONVILLE BANCORP, INC.
Date: 10-23-96 By: /s/ CHARLES BROADWAY
Charles Broadway,
Chief Executive Officer
Exhibit 99
Press Release
Dated
October 23, 1996
<PAGE>
JACKSONVILLE BANCORP, INC.
PRESS RELEASE
RELEASE DATE: October 23, 1996
CONTACT: Charles Broadway
Chief Executive Officer
JACKSONVILLE BANCORP, INC. ANNOUNCES INITIATION OF
OPEN-MARKET STOCK PURCHASES TO FUND RECOGNITION PLAN
JACKSONVILLE, TEXAS -- (NASDAQ: JXVL). Jacksonville Bancorp, Inc.
(the "Company") announced today that it intends to initiate purchases in
the open-market to fund the Company's Recognition Plan (the "Recognition
Plan"). The Company intends to purchase from time to time up to 64,736
shares of the common stock of the Company. The Company's stockholders
approved the Recognition Plan today at a Special Meeting of Stockholders.
At June 30, 1996, the Company had $217.7 million of total
consolidated assets, $182.1 million of total consolidated liabilities and
$35.6 million of total stockholders' equity. Jacksonville Bancorp, Inc.,
and its subsidiaries conducts business from its main office located in
Jacksonville, Texas and five full-service branch offices located in
surrounding communities.
