Jacksonville Bank - Loans receivable - net of allowance for loan...

Jacksonville Bank - Recent Material Event

Item 1.	Financial Statements

	Condensed Consolidated Balance Sheets

	Condensed Consolidated Statements of Income

	Condensed Consolidated Statement of Stockholders’ Equity

	Condensed Consolidated Statements of Cash Flows	4-5

	Notes to the Condensed Consolidated Financial Statements	6-10

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	11-22

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	23-24

Item 4.	Controls and Procedures


PART II	OTHER INFORMATION

Item 1.	Legal Proceedings
Item 2.	Changes in Securities and Stock Purchases
Item 3.	Defaults Upon Senior Securities
Item 4.	Submission of Matters to a Vote of Security Holders
Item 5.	Other Information
Item 6.	Exhibits

	Signatures

EXHIBITS

	Section 302 Certifications
	Section 906 Certification

PART I – FINANCIAL INFORMATION

JACKSONVILLE BANCORP, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

	September 30,			December 31,
ASSETS	2007			2006
	(Unaudited)

Cash and cash equivalents	$	6,074,623		$	9,330,566
Investment securities - available-for-sale		75,686,635			78,491,564
Mortgage-backed securities - available-for-sale		11,705,145			8,210,466
Federal Home Loan Bank stock		1,108,606			1,108,606
Other investments		333,871			378,249
Loans receivable - net of allowance for loan losses of $1,789,076 and $1,864,497 as of September 30, 2007 and December 31, 2006		171,104,697			154,837,699
Loans held for sale		883,147			425,851
Premises and equipment - net		6,364,263			6,555,761
Accrued interest receivable		2,925,536			1,943,390
Goodwill		2,726,567			2,726,567
Core deposit intangible		59,793			119,586
Capitalized mortgage servicing rights		958,427			1,039,649
Real estate owned		298,746			152,058
Income taxes receivable		-			21,001
Other assets		1,825,527			2,030,821

Total Assets	$	282,055,583		$	267,371,834

LIABILITIES AND STOCKHOLDERS’ EQUITY

Liabilities

Deposits	$	239,338,129		$	232,913,290
Other borrowings		15,838,407			9,034,879
Advance payments by borrowers for taxes and insurance		237,154			388,713
Accrued interest payable		1,195,318			1,082,334
Deferred compensation plan		2,332,466			2,273,301
Income taxes payable		29,832			-
Other liabilities		1,129,589			534,701
Total liabilities		260,100,895			246,227,218

Commitments and Contingencies

Stockholders' equity

Preferred stock, $0.01 par value - authorized 10,000,000 shares;
none issued and outstanding		-			-

Common stock, $0.01 par value - authorized 20,000,000 shares; issued and outstanding, 1,986,804 shares and 1,985,417 shares as of
September 30, 2007 and December 31, 2006, respectively		19,868			19,854

Additional paid-in capital		6,620,849			6,608,342

Retained earnings - substantially restricted		15,930,855			15,700,156

Accumulated other comprehensive loss		(616,884	)		(1,183,736	)
Total stockholders’ equity		21,954,688			21,144,616

Total Liabilities and Stockholders' Equity	$	282,055,583		$	267,371,834

See accompanying notes to the condensed consolidated financial statements.

JACKSONVILLE BANCORP, INC.