JACKSONVILLE BANCORP INC
8-K, 1998-12-18
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)         December 11, 1998     
                                                -----------------------------   

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

  TEXAS                             0-28070                       75-2632781
- -----------------------------------------------------------------------------
(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 December 11, 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:       12/11/98               By: /s/Jerry Chancellor         
     ---------------------             ------------------------                
                                       Jerry Chancellor
                                       President
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                                Exhibit 99

                               Press Release

                                  Dated

                             December 11, 1998
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                               PRESS RELEASE



     Today's date: December 11, 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 December  8, 1998, declared a cash dividend of $0.125 per 
share of common stock of Jacksonville Bancorp, Inc. payable on January 13, 
1999, to stockholders of record at close of business on December 31,1998.

     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 September  30, 1998, Jacksonville Bancorp, Inc. had a consolidated
financial statement reflecting assets of $263.2 million, liabilities and 
deferred income of $227.6 million and stockholder's equity of $35.6 million.
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