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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) AUGUST 6, 1996
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JACKSONVILLE BANCORP, INC.
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TEXAS 0-28070 75-2632781
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(STATE OF INCORPORATION) (COMMISSION FILE NO.) (IRS NO)
COMMERCE AND NECHES STREET JACKSONVILLE, TEXAS 75766
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
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(903) 586-9861
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(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
NOT APPLICABLE
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(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(a) Press Release, dated
August 7, 1996
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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: August 7, 1996 By: Charles Broadway
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Charles Broadway,
Chief Executive Officer
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Exhibit 99 (a)
Press Release
Dated
August 7, 1996
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Press Release
Today's Date: August 7, 1996 For Information Contact:
Release Date: Immediately Charles Broadway
The Jacksonville Bancorp, Inc.
Jacksonville, Texas , August 7, 1996 - Jacksonville Bancorp, Inc. Holding
Company of Jacksonville Savings and Loan Association of Jacksonville, Texas
(NASDAQ: JXVL) reported net earnings of $657,000 for the three months ended
June 30, 1996. This compares to $319,000 for the three months ended June 30,
1995.
According to Charles Broadway, Chief Executive Officer, net interest income
increased to $1.9 million for the three months ended June 30, 1996, compared to
$1.5 million for the comparable period in 1995. Non-interest income also
increased from $312,000 to $390,000 for the three month period ended June 30,
1995 and 1996, respectively.
Jacksonville also reported the annex to its Palestine, Texas branch is almost
complete. The Nacogdoches, Texas loan origination office is scheduled to close
no later than September 1, 1996.
Jacksonville also announced executive changes due to the planned retirement of
Charles Broadway, Chief Executive Officer, as of December 31, 1996. The Board
of Directors has named Jerry Chancellor, President; Bill Taylor, Executive
Vice- President, and Jerry Hammons, Senior Vice-President. Mr. Broadway
commented that "The promotion of these officers at this time allows for a more
orderly transition at year end. Each of these gentlemen has many years of
experience with the Association and the Board of Directors is confident that
they are well qualified to serve in their new positions."
Jacksonville's stockholder's equity increased from $20.3 million to $35.6
million for the nine month periods ended September 30,1995 and June 30, 1996
respectively. This significant increase is primarily due to the proceeds from
the completion of the "second step" conversion completed on March 29, 1996.
Jacksonville had assets of $217.7 million at June 30, 1996 and operates from
its headquarters in Jacksonville, Texas and through its five branch offices
throughout the East Texas area.
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Jacksonville is a Texas chartered stock savings and loan association and is
listed on NASDAQ National Market under the symbol "JXVL".