Jacksonville Bancorp Inc. (JAXB)

[Enterprising Investor]

Jacksonville Bancorp, Inc. Raises $5 Million In Stock Offerings (10/07/13)

JACKSONVILLE, Fla., Oct. 7, 2013 /PRNewswire/ -- Jacksonville Bancorp, Inc. (the "Company") (NASDAQ: JAXB), holding company for The Jacksonville Bank, announced that it has completed the sale of $5 million in common stock, or 10 million shares. The capital was raised through the sale of common stock to participating shareholders in the Company's previously announced rights offering ("Rights Offering") and to purchasers in its public offering ("Public Offering") of the shares unsubscribed for in the Rights Offering. The Public Offering was fully subscribed with 7,917,383 shares of common stock sold to institutional and local investors through Hovde Group, LLC, the Company's sales agent for the Public Offering.

Don Glisson, Jr., Chairman of the Board, commented, "We are very pleased with the results of the Public Offering, and by the support from local investors and customers of The Jacksonville Bank, as well as the institutional investment community. The success of this offering gives us positive momentum as we continue to strengthen our capital position and execute our strategic initiatives."

The Company
Jacksonville Bancorp, Inc., a bank holding company, is the parent of The Jacksonville Bank, a Florida state-chartered bank focusing on the Northeast Florida market with approximately $522.4 million in assets and eight full-service branches in Jacksonville and Jacksonville Beach, Duval County, Florida as well as our virtual branch.The Jacksonville Bank opened for business on May 28, 1999 and provides a variety of community banking services to businesses and individuals in Jacksonville, Florida.More information is available at its website at www.jaxbank.com.

http://m.prnewswire.com/news-releases/jacksonville-bancorp-inc-raises-5-million-in-stock-offerings-226739141.html