Jacksonville Bancorp, Inc. operates as the holding company for Jacksonville Savings Bank that offers savings banking products and services. The company is headquartered in Jacksonville, Illinois; and conducts business from its main office and five branches, two of which are located in Jacksonville and one of which is located in each of the following Illinois communities: Virden, Litchfield, and Chapin. Lending Activities The company’s principal lending activity has been the origination of mortgage loans secured by one- to four-family residential properties in its local market area. It also originates commercial and agricultural business loans secured by collateral other than real estate, as well as unsecured commercial and agricultural business loans. The company also originates home equity and consumer loans. It originates fixed-rate residential mortgage loans secured by one- to four-family residential properties with terms up to 30 years. The company sells a significant portion of its one- to four-family fixed-rate residential mortgage loan originations directly to the secondary market. One- to Four-Family Mortgage Loans: The company’s primary lending origination activity has been one-to four-family, owner-occupied, residential mortgage loans secured by property located in its market area. Its fixed-rate one- to four-family residential mortgage loans are conforming loans, underwritten according to secondary market guidelines. Commercial Real Estate Loans: The company originates and purchases commercial real estate loans. Its commercial real estate loans are secured primarily by improved properties, such as multi-family residential properties, retail facilities and office buildings, restaurants, and other non-residential buildings. Agricultural Real Estate Loans: The company originates and purchases agricultural real estate loans. Its agricultural real estate loans are written up to terms of five years with adjustable interest rates. The company purchases from time to time agricultural real estate loan participations primarily from other local institutions within its market area. Home Equity Loans: Home equity loans and lines of credit are generally secured by the borrower’s principal residence. Home equity loans and lines of credit are approved with both fixed and adjustable interest rates which are determined based upon market conditions. Commercial Business Loans: The company originates commercial business loans to borrowers located in its market area which are secured by collateral other than real estate or which can be unsecured. The company also purchases participations of commercial business loans from other lenders. Agricultural Business Loans: The company originates agricultural business loans to borrowers located in its market area which are secured by collateral other than real estate or which can be unsecured. Consumer Loans: The principal types of consumer loans offered include automobile loans, loans secured by deposit accounts, unsecured loans and mobile home loans. Investment Activities The company invests in United States Government agency securities, bank-qualified, general obligation municipal issues, and mortgage-backed securities issued or guaranteed by the United States Government or agencies thereof. The company maintains a portion of assets in liquid investments, such as overnight funds at the Federal Home Loan Bank. Deposits The company attracts consumer and commercial deposits principally from within its market areas through the offering of a selection of deposit instruments, including interest-bearing checking accounts, noninterest-bearing checking accounts, savings accounts, money market accounts, term certificate accounts and individual retirement accounts. Trust Services The company operates a full-service trust department which is primarily engaged in asset management. It also provides institutional trust services for regional bond issuers. Subsidiary Activities Jacksonville Savings Bank has one wholly owned subsidiary, Financial Resources Group, Inc. (Financial Resources), an Illinois corporation. Financial Resources operates an investment center engaged in the business of buying and selling stocks, bonds, annuities and mutual funds for its customers’ accounts. In addition, Financial Resources is engaged in the business of originating commercial business loans and commercial real estate loans. Regulations Jacksonville Bancorp, Inc. is a nondiversified savings and loan holding company within the meaning of the Home Owners’ Loan Act. As such, it is registered with, subject to examination and supervision by and otherwise required to comply with the rules and, regulations of, the Federal Reserve Board. Jacksonville Savings Bank is an Illinois-chartered savings bank subject to regulation by the Illinois Department of Financial and Professional Regulation and the Federal Deposit Insurance Corporation. Jacksonville Savings Bank’s deposit accounts are insured up to applicable limits by the Federal Deposit Insurance Corporation. Jacksonville Savings Bank must file reports with the Illinois Department of Financial and Professional Regulation and the Federal Deposit Insurance Corporation concerning its activities and financial condition. Jacksonville Savings Bank’s operations are also subject to federal and state laws applicable to credit transactions, such as the: Truth-In-Lending Act; Home Mortgage Disclosure Act; Equal Credit Opportunity Act; Fair Credit Reporting Act; Fair Debt Collection Act; Truth in Savings Act; Illinois High Risk Home Loan Act; Illinois Predatory Lending Database Program; and rules and regulations of the various federal and state agencies charged with the responsibility of implementing such laws. The operations of Jacksonville Savings Bank also are subject to the: Right to Financial Privacy Act, Electronic Funds Transfer Act and Regulation E, Check Clearing for the 21st Century Act, The USA PATRIOT Act, and The Gramm-Leach-Bliley Act. History Jacksonville Bancorp, Inc. was founded in 1916.
jacksonville bancorp inc/il
1211 West Morton Avenue
Jacksonville, IL 62650
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