Jacksonville Bancorp, Inc. operates as the holding company for The Jacksonville Bank that provides various commercial and retail banking service The company provides various community banking services to businesses and individuals through its eight full-service branches, as well as online banking through its virtual branch. Its product lines include personal and business online banking, and sweep accounts that might be invested in Goldman Sachs mutual funds, in addition to its traditional banking products. Additionally, the company, through the bank’s subsidiary, Fountain Financial, Inc. and its marketing agreement with New England Financial (an affiliate of MetLife), is able to meet the investment and insurance needs of its customers. It is also focused on small business, professionals, and commercial real estate. The company’s primary business segment is community banking and consists of attracting deposits from the general public and using such deposits and other sources of funds to originate commercial business loans, commercial real estate loans, residential mortgage loans, and various consumer loans. Market Area The company’s primary market area is all of Duval County (primarily the Southside, Westside, Arlington, Mandarin and Downtown areas of Jacksonville and Jacksonville Beach), Florida, in addition to surrounding communities within the St. Johns, Clay and Nassau counties. Lending Activities Real Estate Mortgage Loans: Real estate mortgage loans are segmented into three classes, such as commercial real estate, residential real estate, and construction and land development loans. Commercial real estate loans are secured by the subject property. Commercial real estate loans are segmented into three categories, such as owner occupied commercial properties, properties used by non-profit organizations (churches and schools), and commercial properties leased to third parties for investment purposes. Residential real estate loans include loans secured by first or second mortgages and home equity loans on one-to-four family residential properties. Commercial Loans: Commercial loans are primarily underwritten on the basis of the borrowers’ ability to service such debt from income. Collateralized working capital loans are secured by short-term assets whereas long-term loans are primarily secured by long-term assets. Consumer and Other Loans: Consumer loans are extended for various purposes, including purchases of automobiles, recreational vehicles, and boats. The company also offers home improvement loans, lines of credit, personal loans, and deposit account collateralized loans. Consumer loans are made at fixed and variable interest rates and might be made on terms of approximately 10 ye Investment Portfolio The company invests primarily in obligations guaranteed by the U.S. government and government-sponsored agencies. It also enters into federal funds transactions through its principal correspondent banks. Deposits The company offers various deposit accounts, including commercial and retail checking, money market, individual retirement and statement savings accounts, and certificates of deposit with fixed rates and a range of maturity options. Its sources of deposits are primarily residents, businesses, and employees of businesses within its market areas. The company is also part of the NYCE, Cirrus, and Plus ATM networks and a member of VISA. Regulation and Supervision The company is supervised by, examined by, and submit reports to, various regulatory agencies, including the Federal Reserve Board, in the case of the company; and the Federal Deposit Insurance Corporation and the Florida Office of Financial Regulation, in the case of the bank. The company is regulated by the Federal Reserve Board under the Federal Bank Holding Company Act. The bank’s deposits are insured by the Federal Deposit Insurance Corporation. History Jacksonville Bancorp, Inc. was founded in 1997.
jacksonville bancorp inc fl
(JAXB:Consolidated Issue listed on NASDAQ Capital Market)
100 North Laura Street
Jacksonville, FL 32202
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