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 30, 1997
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JACKSONVILLE BANCORP, INC.
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)
(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) Press Release, dated October 30, 1997
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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: 10/30/97 By: \s\Jerry Chancellor
Jerry Chancellor
President
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PRESS RELEASE
Today's Date: October 30, 1997 Contact: Bill W. Taylor
Release Date: Immediately Executive Vice President and
Chief Financial Officer
(903) 586-9861
Jacksonville Bancorp, Inc.
Jacksonville Bancorp, Inc. (JXVL-NASDAQ) announced today that it has extended
the time for repurchasing 29,173 shares remaining from the 127,073 shares
approved for repurchase on April 24, 1997 by the Office of Thrift Supervision.
These 29,173 remaining shares will be purchased at the prevailing market price
from time to time depending on market conditions.
Jerry Chancellor, President and Chief Executive Officer, indicated that the
Board of Directors extended the time period of the repurchase program in view
of the current price level of the Company's common stock and the strong
capital position of the Company and its subsidiaries. The repurchase shares
will become treasury shares available for general corporate purposes.
Jacksonville Bancorp, Inc. is the holding company of Jacksonville Savings
Bank, SSB. Jacksonville Savings Bank, SSB operates from its home office in
Jacksonville, Texas and through its branches in Tyler, Longview, Palestine,
Athens and Rusk. At September 30, 1997, Jacksonville Bancorp, Inc. had
$233.2 million in assets and $33.6 million in stockholders' equity. The
Company currently has 2,443,568 shares outstanding.
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