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) April 27, 2000
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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 April 27, 2000
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: 04/27/2000 By: /s/ Jerry Chancellor
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Jerry Chancellor
President
Exhibit 99
Press Release
Dated
April 27, 2000
PRESS RELEASE
Today's date: April 27, 2000 Contact: Bill W. Taylor
Release date: Immediately Executive Vice
President, C.F.O.
(903) 586-9861
JACKSONVILLE BANCORP, INC. ANNOUNCES SECOND QUARTER EARNINGS
Jacksonville, Texas, April 27, 2000 - Jacksonville Bancorp, Inc.,
(NASDAQ: JXVL) the holding company of Jacksonville Savings Bank, SSB of
Jacksonville, Texas today reported net income of $790,000 or $.40 per share
basic and $.39 per share diluted, for the three months ended March 31, 2000.
This compares to $889,000 or $.40 per share basic and $.39 per share
diluted, for the three month period ended March 31, 1999.
According to Jerry Chancellor, President and C.E.O., net interest
income remained at $2.4 million for the three months ended March 31, 2000, the
same figure as reported for the comparable period in 1999. Chancellor stated
that while interest income increased from $4.9 million for the period ended
March 31, 1999 to $5.4 million for the current year quarter, interest on
deposits and Federal Home Loan Advances also increased $.5 million.
Non-interest income for the three month period ended March 31, 2000
decreased by $65,000 to $396,000 from $461,000 for the same period a year ago,
primarily as a result of a decrease in income from real estate operations, net
of $72,000. Non-interest expense for the three month period ended March 31,
2000 increased to $1.6 million compared to $1.5 million for the comparable
period in 1999, primarily due to the cost of staffing and other expenses
associated with the opening of a second branch in Tyler, Texas.
At March 31, 2000, assets totaled $291.3 million, liabilities and
deferred income amounted to $258.3 million with stockholders equity totaling
$33.0 million.
During the period Jacksonville continued the repurchase of Treasury
shares with the purchase of 79,000 additional shares, bringing the total
Treasury shares to 648,260 with outstanding shares at March 31, 2000, of
2,027,712.
Jacksonville Bancorp, Inc's wholly owned subsidiary, Jacksonville
Savings Bank, SSB, operates from its headquarters in Jacksonville, Texas, and
through its seven branch office network in Tyler (2), Longview (2), Palestine,
Athens, and Rusk.
