Jacksonville Bancorp Inc. (JAXB)

[vpagano]

Another article I hope that isn't a re-post:

http://www.bizjournals.com/jacksonville/print-edition/2013/01/11/new-capital-means-local-bank-can-buy.html?page=all

John Rose, who is a board member and a principal at CapGen Capital Group, the private equity firm that provided about half of the funding for the bank’s most recent capital raise, said that the new capital improves the bank’s capital reserves so they exceed regulatory requirements. The capital also puts the bank in a position to take advantage of the local banking market where more than half of the banks need capital to meet regulatory demands.

Scott Hall, the president of Jacksonville Bank, said the goal is to get the bank to a size of at least $1 billion in assets. At its height in 2010, the bank had about $790 million in assets, but shrunk to $549.3 million in assets as of the third quarter, the latest data available. Rose said the bank is now around $600 million in assets because of the new capital.