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 18, 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)
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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 18, 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: 10-18-96 By: /s/ CHARLES BROADWAY
Charles Broadway,
Chief Executive Officer
SECURITIES AND EXCHANGE COMMISSION
Exhibit 99
Press Release
Dated
October 18, 1996
<PAGE>
PRESS RELEASE
Today's Date: October 18, 1996 For Information Contact:
Charles Broadway
Chief Executive Officer
Release Date: Immediate
JACKSONVILLE BANCORP, INC.
Jacksonville Bancorp, Inc., Jacksonville, Texas, announced today a loss of
$483 for the quarter ended September 30, 1996. The loss was the result of
a pre-tax provision of $1,065,547 for a special Savings Association
Insurance Fund ("SAIF") assessment. All healthy insured depository
institutions are subject to the special assessment of their SAIF
assessable deposits as a result of legislation enacted into law on
September 30, 1996. The purpose of the special assessment is to
recapitalize the SAIF and, according to Charles Broadway, Chief Executive
Officer of Jacksonville, the Company anticipates that it will recover the
cost of the special assessment in less than a four-year period as a result
of the reduction of its deposit insurance premiums.
Jacksonville is in the process of preparing its September 30, 1996 year-end
report which it anticipates will be available by December 15,1996.
