JACKSONVILLE BANCORP INC
8-K, 1999-12-16
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 15, 1999
                                                         _________________


                         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
___________________________________________________________________________

           (Registrant's Telephone Number, Including Area Code)



                             NOT APPLICABLE
____________________________________________________________________________
      (Former Name or Former Address, if changed since last report)

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 15, 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:       12/15/99               By:    Jerry Chancellor
     ______________________            ________________________
                                          Jerry Chancellor
                                          President
















                                Exhibit 99

                               Press Release

                                   Dated

                             December 15, 1999











                                PRESS RELEASE



Today's date: December 15, 1999                 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 14, 1999, declared a cash dividend of $0.125 per
share of common stock of Jacksonville Bancorp, Inc. payable on January 14,
2000, to stockholders of record at close of business on December 31, 1999.

     The Board also announced that Robert F. Brown had been elevated to the
newly created position of Vice-Chairman of the Board.  In this position, Mr.
Brown will act as Chairman in the absence of Board Chairman W. G. Brown and
assume such other duties as may be assigned to him by the Board.  The Board
took this step in the interests of smooth management transition, to assure
continuity in the chairing of meetings, and to provide additional management
flexibility.

     Jacksonville Bancorp, Inc. is the owner of Jacksonville Savings Bank,
SSB that conducts business through seven branches throughout East Texas, in
addition to its home office operations in Jacksonville, Texas.

     As of September 30, 1999, Jacksonville Bancorp, Inc. had a consolidated
financial statement reflecting assets of $290.4 million, liabilities and
deferred income of $256.2 million and stockholder's equity of $34.2 million.




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