Jacksonville Bancorp's board of directors authorized a stock repurchase plan for the company to repurchase up to 5% of its outstanding shares of common stock, or 92,018 shares in the open market, in block trades or in privately negotiated transactions depending on market conditions. The company's previous repurchase plan, dated July 19, 2011, was fulfilled during Q3. The timing of the repurchases under the new repurchase plan will depend on certain factors, including but not limited to stock price, the company's liquidity requirements, and alternative uses of capital. Any repurchased shares will be treated as authorized but unissued shares.
- Investment & Company Information