This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Jacksonville Bancorp, Inc. Announces Organizational Changes

JACKSONVILLE, Fla., June 18, 2012 /PRNewswire/ -- Jacksonville Bancorp, Inc. ("Bancorp") (NASDAQ: JAXB), bank holding company for The Jacksonville Bank ("Bank"), announced today that Price W. Schwenck, President and Chief Executive Officer of Bancorp and Chief Executive Officer of the Bank, retired effective June 18, 2012.  Mr. Schwenck will remain a director of Bancorp and the Bank.  

(Logo:  http://photos.prnewswire.com/prnh/20020410/JAXBLOGO)

The Board of Directors has appointed Stephen C. Green as Mr. Schwenck's successor at Bancorp and the Bank.  Mr. Green began serving as President and Chief Executive Officer of Bancorp effective June 18, 2012 and, subject to regulatory approval, will also serve as Chief Executive Officer of the Bank.  Mr. Green has over 37 years of banking experience which includes all aspects of banking with a particular emphasis on credit and business development.  Mr. Green will also join the Board of Directors of Bancorp and, subject to regulatory approval, will also be a director of the Bank.

Mr. Green stated, "This is a great opportunity to be personally involved in the dynamic Jacksonville market.  I look forward to building upon the Bank's foundation as the largest and best community bank serving Jacksonville area businesses and individuals with highly personalized service."

Also, effective June 14, 2012, Margaret A. Incandela was appointed as Chief Operating Officer of Bancorp, and subject to regulatory approval, will also serve as Chief Operating Officer of the Bank.  As previously announced, Ms. Incandela joined the company in May 2012 as Executive Vice President and Chief Credit Officer of Bancorp and the Bank, and will continue serving in those capacities.  Ms. Incandela has more than 25 years of experience in commercial and consumer credit and lending.

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 $583 million in assets and eight full-service branches in Jacksonville, 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 .

The statements contained in this press release, other than historical information, are forward-looking statements, which involve risks, assumptions and uncertainties.  The risks, uncertainties and factors affecting actual results include but are not limited to:  required regulatory approvals; our ability to raise additional capital; economic and political conditions, especially in North Florida; competitive circumstances; bank regulation, legislation, accounting principles and monetary policies; the interest rate environment; success in minimizing credit risk and nonperforming assets; and technological changes.  The Company's actual results may differ significantly from the results discussed in forward-looking statements.  Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof.  The Company does not undertake, and specifically disclaims, any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.  Additional information regarding risk factors can be found in the Company's filings with the Securities and Exchange Commission.

SOURCE Jacksonville Bancorp, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,981.28 -53.65 -0.30%
S&P 500 2,102.30 +1.90 0.09%
NASDAQ 5,021.3520 +26.75 0.54%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs