JACKSONVILLE BANCORP INC
8-K, 1998-09-10
SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED
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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)         September 9, 1998      
                                                --------------------------     

                   JACKSONVILLE BANCORP, INC.
                   --------------------------                                

                                                                             
     TEXAS                         0-28070                  75-2632781
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  (State of Incorporation)      (Commission File)             (IRS No.)



COMMERCE AND NECHES STREET         JACKSONVILLE, TEXAS           75766
 -------------------------------------------------------------------------
(Address of Principal Executive Offices)                       (Zip Code)



                                (903) 586-9861
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              (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 September 9, 1998
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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:       09/9/98                By: /s/ Jerry Chancellor   
     ----------------------------      ------------------------------------   
                                       Jerry Chancellor
                                       President
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                             Exhibit 99

                            Press Release

                               Dated

                          September 9, 1998





















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                              PRESS RELEASE



Today's date: September 9, 1998         Contact: Bill W. Taylor
Release date: Immediately               Exec. Vice President, C.F.O.
                                        903-586-9861



JACKSONVILLE BANCORP, INC. ANNOUNCES DECLARATION OF CASH DIVIDEND
                      (NASDAQ SYMBOL - JXVL)

     Jacksonville Bancorp, Inc. announced that its Board of Directors, at 
their meeting on September 8, 1998, declared a cash dividend of $0.125 per 
share of common stock of Jacksonville Bancorp, Inc. payable on October 9, 
1998, to stockholders of record at close of business on September 30, 1998.

     Jacksonville Bancorp, Inc. is the owner of Jacksonville Savings Bank, 
SSB (formerly known as Jacksonville Savings and Loan Association), that 
conducts business through six branches throughout East Texas, in addition to 
its home office operations in Jacksonville, Texas.
 
     As of June 30, 1998, Jacksonville Bancorp, Inc. had a consolidated 
financial statement reflecting assets of $242.7 million, liabilities and 
deferred income of $207.6 million and stockholder's equity of $35.1 million.
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