Jess D. Karns

Jacksonville Bancorp, Inc. is a Federal corporation. On May 3, 2002, Jacksonville Savings Bank completed its reorganization into the two-tier form of mutual holding company ownership. At that time each outstanding share of Jacksonville Savings Bank's common stock was converted into a share of Jacksonville Bancorp's common stock. Company's only significant asset is investment in Jacksonville Savings Bank. The firm's majority owned by Jacksonville Bancorp, MHC, a Federally-chartered mutual holding company. Jacksonville Savings Bank is an Illinois-chartered savings bank headquartered in Jacksonville, Illinois. It conduct business from their main office and six branches, two of which are located in Jacksonville and one of which is located in each of the following Illinois communities: Virden, Litchfield, Chapin, and Concord. Company were originally chartered in 1916 as a state-chartered savings and loan association and converted to a state-chartered savings bank in 1992. The firm have been a member of the Federal Home Loan Bank System since 1932. Jacksonville Savings Bank deposits are insured by the Federal Deposit Insurance Corporation. At December 31, 2008, Jacksonville Bancorp had total assets of $288.3 million, total deposits of $238.2 million, and stockholders' equity of $24.3 million. The bank is a community-oriented savings bank engaged primarily in the business of attracting retail deposits from the general public in market area and using such funds together with borrowings and funds from other sources to primarily originate mortgage loans secured by one- to four-family residential real estate, commercial & agricultural real estate loans, and consumer loans. Company also originates multi-family real estate loans and commercial and agricultural business loans. Additionally, firm have invest in United States Government agency securities, bank-qualified, general obligation municipal issues, and mortgage-backed securities primarily issued or guaranteed by the United States Government or agencies thereof, and maintains a portion of its assets in liquid investments, such as overnight funds at the Federal Home Loan Bank. Jacksonville Savings Bank's principal sources of funds are customer deposits, proceeds from the sale of loans, funds received from the repayment and prepayment of loans and mortgage-backed securities, and the sale, call, or maturity of investment securities. Principal sources of income is interest income on residential, commercial & consumer loans, interest on investments, commissions and fees. It principal expenses are interest paid on deposits, employee compensation & benefits, occupancy and equipment expense. The firm operates an investment center at main office. The investment center is operated through Financial Resources Group, Inc., the Bank's wholly-owned subsidiary. Company's principal executive office is located at Jacksonville, IL.