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 14, 1999
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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)
(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)
Item 5. Other Events
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(a) Not applicable
(b) Not applicable
(c) Exhibits:
(99) Press Release, dated September 14, 1999
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: 9/14/99 By: /s/ Jerry Chancellor
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Jerry Chancellor
President
Exhibit 99
Press Release
Dated
September 14, 1999
Press Release
Today's date: September 14, 1999 Contact: Bill W. Taylor
Release date: Immediately Executive Vice
President, C.F.O.
(903) 586-9861
JACKSONVILLE BANCORP, INC. TO REPURCHASE UP TO
109,000 SHARES OF COMMON STOCK
Jacksonville, Texas, September 14, 1999 - Jacksonville Bancorp, Inc.,
(NASDAQ: JXVL) the holding company of Jacksonville Savings Bank, SSB of
Jacksonville, Texas announced today that it has commenced an open-market stock
repurchase program of up to 109,000 shares, or 5% of the Company's outstanding
shares of common stock. Repurchases will be made by the Company from time to
time during a one year period ending September 14, 2000 as, in the opinion of
management, market conditions warrant. The repurchased shares will be held as
treasury stock and will be available for general corporate purposes.
The company has recently completed the repurchase of 114,748 shares of
stock as announced in a press release dated May 19, 1999.
On June 30, 1999, the Company had $290.3 million of total consolidated
assets, $211.0 million of total deposits and $35.4 million of total
stockholders' equity. Jacksonville Savings Bank, a Texas chartered savings
bank, is the Company's subsidiary that conducts business from its main
office located in Jacksonville, Texas, and six branch locations.
