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) January 11, 2000
_________________________
JACKSONVILLE BANCORP, INC.
___________________________
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
_____________________________________________________________________________
(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 January 11, 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: 01/11/2000 By: /s/ Jerry Chancellor
___________________ ________________________
Jerry Chancellor
President
Exhibit 99
Press Release
Dated
January 11, 2000
<PAGE>
Press Release
Today's date: January 11, 2000 Contact: Bill W. Taylor
Release date: Immediately Executive Vice
President, C.F.O.
(903) 586-9861
JACKSONVILLE BANCORP, INC. ANNOUNCES FIRST QUARTER EARNINGS
Jacksonville, Texas, January 11, 2000 - Jacksonville Bancorp, Inc.,
(NASDAQ: JXVL) the holding company of Jacksonville Savings Bank, SSB of
Jacksonville, Texas today reported net income of $946,000 or $.46 per share
basic and $.45 per share diluted, for the three months ended December 31,
1999. This compares to $858,000 or $ .38 per share basic and $ .37 per
share diluted, for the three month period ended December 31, 1998.
According to Jerry Chancellor, President and C.E.O., net interest
income increased to $2.54 million for the three months ended December 31,
1999, compared to $2.29 million for the comparable period in 1998.
Chancellor stated that the increase was primarily due to increases in income
on loans receivable, net and mortgage-backed securities portfolios.
Non-interest income for the three month period ended December 31, 1999
increased by $37,000 to $488,000 from $451,000 for the same period a year
ago. Non-interest expense for the three month period ended December 31, 1999
increased to $1.60 million compared to $1.42 million for the comparable
period in 1998.
At December 31, 1999, assets totaled $292.4 million, liabilities and
deferred income amounted to $258.7 million with stockholders equity totaling
$33.7 million.
During the period Jacksonville continued the repurchase of Treasury
shares with the purchase of 73,500 additional shares, bringing the total
Treasury shares to 569,260.
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.
