Exhibit 99
Press Release
Dated
October 11, 2000
Press Release
Today's date: October 11, 2000 Contact: Bill W. Taylor
Release date: Immediately Executive Vice President,
C.F.O.
(903) 586-9861
JACKSONVILLE BANCORP, INC. TO REPURCHASE UP TO
98,385 SHARES OF COMMON STOCK
Jacksonville, Texas, October 11, 2000 - 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 98,385 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 October 11, 2001 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 103,500 shares of
stock as announced in a press release dated February 9, 2000.
On June 30, 2000, the Company had $298.7 million of total consolidated
assets, $218.4 million of total deposits and $33.6 million of total
stockholders' equity. Jacksonville Savings Bank, a Texas chartered savings
bank, is a subsidiary of the Company's, that conducts business from its main
office located in Jacksonville, Texas, and seven branch locations.
