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Company Description (as filed with the SEC)
Jacksonville Bancorp, Inc. (or the "Company") is a Maryland corporation. On July 14, 2010, Jacksonville Bancorp, Inc. completed its conversion from the mutual holding company structure and the related public offering and is now a stock holding company that is fully owned by the public. Jacksonville Savings Bank is 100% owned by the Company and the Company is 100% owned by public stockholders. The Company sold a total of 1,040,352 shares of common stock, par value $0.01 per share, in the subscription and community offerings, including 41,614 shares to the Jacksonville Savings Bank employee stock ownership plan. All shares were sold at a price of $10.00 per share, raising $10.4 million in gross proceeds. Conversion related expenses of $1.2 million were offset against the gross proceeds, resulting in $9.2 million of net proceeds. ... More ...