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                                                                EXHIBIT 10.1(c)


                    JACKSONVILLE SAVINGS AND LOAN ASSOCIATION
                           1994 MANAGEMENT RECOGNITION
                            PLAN AND TRUST AGREEMENT


                                    ARTICLE I
                       ESTABLISHMENT OF THE PLAN AND TRUST

        1.01 Jacksonville Savings and Loan Association (the "Company") hereby
establishes a Management Recognition Plan (the "Plan") and Trust (the "Trust")
upon the terms and conditions hereinafter stated in this Management Recognition
Plan and Trust Agreement (the "Agreement").

        1.02 The Trustees hereby accept this Trust and agree to hold the Trust
assets existing on the date of this Agreement and all additions and accretions
thereto upon the terms and conditions hereinafter stated.


                                   ARTICLE II
                               PURPOSE OF THE PLAN

        2.01 The purpose of the Plan is to retain personnel of experience and
ability in key positions by providing such key employees of the Company and any
Subsidiaries with a proprietary interest in the Company as compensation for
their contributions to the Company and any Subsidiaries and as an incentive to
make such contributions in the future.


                                   ARTICLE III
                                   DEFINITIONS

        The following words and phrases when used in this Agreement with an
initial capital letter, unless the context clearly indicates otherwise, shall
have the meanings set forth below. Wherever appropriate, the masculine pronouns
shall include the feminine pronouns and the singular shall include the plural.

        3.01 "Beneficiary" means the person or persons designated by a Recipient
to receive any benefits payable under the Plan in the event of such Recipient's
death. Such person or persons shall be designated in writing on forms provided
for this purpose by the Committee and may be changed from time to time by
similar written notice to the Committee. In the absence of a written
designation, the Beneficiary shall be the Recipient's surviving spouse, if any,
or if none, his estate.

        3.02  "Board" means the Board of Directors of the Company.

        3.03  "Code" means the Internal Revenue Code of 1986, as amended.



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        3.04 "Committee" means the committee appointed by the Board pursuant to
Article IV hereof.

        3.05 "Common Stock" means shares of the common stock, $.01 par value per
share, of the Company.

        3.06 "Disability" means any physical or mental impairment which
qualifies an Employee for disability benefits under the applicable long-term
disability plan maintained by the Company or any Subsidiary or, if no such plan
applies, which would qualify such Employee for disability benefits under the
Federal Social Security System.

        3.07 "Effective Date" means the hour and day upon which Common Stock is
initially sold by the Company in the Offering.

        3.08 "Employee" means any person who is employed by the Company or any
Subsidiary, including officers or other employees who may be directors of the
Company.

        3.09 "Exchange Act" means the Securities Exchange Act of 1934, as 
amended.

        3.10 "Offering" means the offering of Common Stock to the public
pursuant to the Plan of Stock Issuance adopted by the Company following the
reorganization of First Federal Savings and Loan into the mutual holding company
form of organization.

        3.11 "Plan Shares" or "Shares" means shares of Common Stock held in the
Trust which may be distributed to a Recipient pursuant to the Plan.

        3.12 "Plan Share Award" or "Award" means a right granted under this Plan
to receive a distribution of Plan Shares upon completion of the service
requirements described in Article VII.

        3.13 "Recipient" means an Employee who receives a Plan Share Award under
the Plan.

        3.14 "Retirement" means a termination of employment upon or after
attainment of age sixty-five (65) or such earlier age as may be specified in a
Recipient's Plan Share Award.

        3.15 "Subsidiary" means any subsidiaries of the Company which, with the
consent of the Board, agree to participate in this Plan.

        3.16 "Trustee" means those persons (normally, members of the Committee)
nominated by the Committee and approved by the Board pursuant to Sections 4.01
and 4.02 to hold legal title to the Plan assets for the purposes set forth
herein.



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                                   ARTICLE IV
                           ADMINISTRATION OF THE PLAN

        4.01 ROLE OF THE COMMITTEE. The Plan shall be administered and
interpreted by the Committee, which shall consist of two or more members of the
Board, none of whom shall be an officer or employee of the Company and each of
whom shall be a "disinterested person" within the meaning of Rule 16b-3 under
the Exchange Act. The Committee shall have all of the powers allocated to it in
this and other Sections of the Plan. The interpretation and construction by the
Committee of any provisions of the Plan or of any Plan Share Award granted
hereunder shall be final and binding. The Committee shall act by vote or written
consent of a majority of its members. Subject to the express provisions and
limitations of the Plan, the Committee may adopt such rules, regulations and
procedures as it deems appropriate for the conduct of its affairs. The Committee
shall report its actions and decisions with respect to the Plan to the Board at
appropriate times, but in no event less than one time per calendar year. The
Committee shall recommend to the Board one or more individuals (normally, from
among its members) to act as Trustees in accordance with the provisions of this
Plan and Trust and the terms of Article VIII hereof.

        4.02 ROLE OF THE BOARD. The members of the Committee and the Trustee or
Trustees shall be appointed or approved by, and will serve at the pleasure of,
the Board. The Board may in its discretion from time to time remove members
from, or add members to, the Committee, and may remove, replace or add Trustees,
provided that any directors who are selected as members of the Committee shall
not be officers or employees of the Company and shall be "disinterested persons"
within the meaning of Rule 16b-3 promulgated under the Exchange Act.

        4.03 LIMITATION ON LIABILITY. No member of the Board or the Committee
shall be liable for any determination made in good faith with respect to the
Plan or any Plan Shares or Plan Share Awards granted under it. If a member of
the Board or the Committee is a party or is threatened to be made a party to any
threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of anything done or not
done by him in such capacity under or with respect to the Plan, the Company
shall, subject to the requirements of applicable laws and regulations, indemnify
such member against all liabilities and expenses (including attorneys' fees),
judgments, fines and amounts paid in settlement actually and reasonably incurred
by him in connection with such action, suit or proceeding if he acted in good
faith and in a manner he reasonably believed to be in the best interests of the
Company and any Subsidiaries and, with respect to any criminal action or
proceeding, had no reasonable cause to believe his conduct was unlawful.

        4.04 COMPLIANCE WITH LAWS AND REGULATIONS. All awards granted hereunder
shall be subject to all applicable federal and state laws, rules and regulations
and to such approvals by any government or regulatory agency or stockholders as
may be required.


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                                    ARTICLE V
                                  CONTRIBUTIONS

        5.01 AMOUNT AND TIMING OF CONTRIBUTIONS. The Board shall determine the
amount (or the method of computing the amount) and timing of any contributions
by the Company and any Subsidiaries to the Trust established under this Plan.
Such amounts may be paid in cash or in shares of Common Stock and shall be paid
to the Trust at the designated time of contribution. No contributions by
Employees shall be permitted.

        5.02 INVESTMENT OF TRUST ASSETS; NUMBER OF PLAN SHARES. Subject to
Section 8.02 hereof, the Trustees shall invest all of the Trust's assets
primarily in Common Stock. The aggregate number of Plan Shares initially
available for distribution pursuant to this Plan, subject to adjustment as
provided in Section 9.01 hereof, shall be equal to 1 1/2% of the shares of
Common Stock which are issued by the Company in the Offering, which shares shall
be purchased by the Trust in such Offering with funds contributed by the
Company. Subsequent to consummation of the Offering, the Trust may purchase from
the Company additional shares of Common Stock for distribution pursuant to this
Plan.


                                   ARTICLE VI
                            ELIGIBILITY; ALLOCATIONS

        6.01 ELIGIBILITY. (a) Plan Share Awards may be made to such Employees as
may be selected by the Committee. In selecting those Employees to whom Plan
Share Awards may be granted and the number of Shares covered by such Awards, the
Committee shall consider the position and responsibilities of the eligible
Employees, the value of their services to the Company and any Subsidiaries, and
any other factors the Committee may deem relevant, including operating results,
asset quality and supervisory concerns. The Committee may but shall not be
required to request the written recommendation of the Chief Executive Officer of
the Company other than with respect to Plan Share Awards to be granted to him.

        6.02 FORM OF ALLOCATION. As promptly as practicable after a
determination is made pursuant to Section 6.01 that a Plan Share Award is to be
issued, the Committee shall notify the Recipient in writing of the grant of the
Award, the number of Plan Shares covered by the Award, and the terms upon which
the Plan Shares subject to the Award shall be distributed to the Employee. Such
terms shall be reflected in a written agreement with the Employee. The date on
which the Committee so notifies the Recipient shall be considered the date of
grant of the Plan Share Award. The Committee shall maintain records as to all
grants of Plan Share Awards under the Plan.


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        6.03 ALLOCATIONS NOT REQUIRED TO ANY SPECIFIC EMPLOYEE. Notwithstanding
anything to the contrary in Section 6.01 hereof, no Employee shall have any
right or entitlement to receive a Plan Share Award hereunder, such Awards being
at the total discretion of the Committee.

                                   ARTICLE VII
             EARNING AND DISTRIBUTION OF PLAN SHARES; VOTING RIGHTS

        7.01 EARNING PLAN SHARES; FORFEITURES.
             
             (a) GENERAL RULES. Unless the Committee shall specifically state
to the contrary at the time a Plan Share Award is granted, Plan Shares subject
to an Award shall be earned by a Recipient at the rate of one-third of the
aggregate number of Shares covered by the Award as of each January 1 following
the date of grant of the Award. If the employment of a Recipient is terminated
prior to the third (3rd) January 1 following the date of grant of a Plan Share
Award for any reason (except as specifically provided in subsections (b), (c)
and (d) below), the Recipient shall forfeit the right to any Shares subject to
the Award which have not theretofore been earned.

        In determining the number of Plan Shares which are to be earned,
fractional Shares shall be rounded down to the nearest whole number, provided
that such fractional Shares shall be aggregated and distributed on the third
(3rd) January 1 following the date of grant.

             (b) EXCEPTION FOR TERMINATIONS DUE TO DEATH, DISABILITY AND
RETIREMENT. Notwithstanding the general rule contained in Section 7.01(a), all
Plan Shares subject to a Plan Share Award held by a Recipient whose employment
with the Company or any Subsidiary terminates due to death, Disability or
Retirement, shall be deemed earned as of the Recipient's last day of employment
with the Company or any Subsidiary and shall be distributed as soon as
practicable thereafter; provided, however, that no Awards shall be distributed
prior to six months from the date of grant of the Plan Share Award.

             (c) EXCEPTION FOR TERMINATIONS AFTER A CHANGE IN CONTROL.
Notwithstanding the general rule contained in Section 7.01(a), all Plan Shares
subject to a Plan Share Award held by a Recipient shall be deemed to be earned
in the event of a "change in control of the Company". A "change in control of
the Company" is defined as a change in control of a nature that would be
required to be reported in response to Item 6(e) of Schedule 14A of Regulation
14A promulgated under the Exchange Act, or any successor thereto, whether or not
the Company in fact is required to comply with Regulation 14A thereunder, except
that "a change in control of the Company" shall not include any corporate
reorganization of the Company undertaken in conjunction with the conversion of
First Federal Mutual Holding Company, the parent mutual holding company of the
Company, from the mutual to the stock form.


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             (d) REVOCATION FOR MISCONDUCT. Notwithstanding anything
hereinafter to the contrary, the Board may by resolution immediately revoke,
rescind and terminate any Plan Share Award, or portion thereof, previously
awarded under this Plan, to the extent Plan Shares have not been distributed
hereunder to the Recipient, whether or not yet earned, in the case of an
Employee who is discharged from the employ of the Company or any Subsidiary for
cause (as hereinafter defined). Termination of employment shall be deemed to be
for cause if the Employee has been convicted of a felony by a court of competent
jurisdiction or has been adjudged by a court of competent jurisdiction to be
liable for gross negligence or misconduct in the performance of his duties to
the Company or any Subsidiary.

        7.02 DISTRIBUTION OF DIVIDENDS. Any cash dividends or stock dividends
declared in respect of each Plan Share held by the Trust will be paid by the
Trust, as soon as practicable after the Trust's receipt thereof, to the
Recipient on whose behalf such Plan Share is then held by the Trust.

        7.03 DISTRIBUTION OF PLAN SHARES.

             (a) TIMING OF DISTRIBUTIONS: GENERAL RULE. Plan Shares shall be
distributed to a Recipient or his Beneficiary, as the case may be, as soon as
practicable after they have been earned, provided, however, that no Plan Shares
shall be distributed to a Recipient or Beneficiary pursuant to a Plan Share
Award within six months from the date on which that Plan Share Award was granted
to such person.

             (b) FORM OF DISTRIBUTIONS.  All Plan Shares, together with 
any Shares representing stock dividends, shall be distributed in the form of
Common Stock.  One share of Common Stock shall be given for each Plan Share
earned and distributable.  Payments representing cash dividends shall be made
in cash.

             (c) WITHHOLDING. The Trustees may withhold from any cash payment
or Common Stock distribution made under this Plan sufficient amounts to cover
any applicable withholding and employment taxes, and if the amount of a cash
payment is insufficient, the Trustees may require the Recipient or Beneficiary
to pay to the Trustees the amount required to be withheld as a condition of
delivering the Plan Shares. The Trustees shall pay over to the Company or any
Subsidiary which employs or employed such Recipient any such amount withheld
from or paid by the Recipient or Beneficiary.

             (d) RESTRICTIONS ON SELLING OF PLAN SHARES. Plan Share Awards may
not be sold, assigned, pledged or otherwise disposed of prior to the time that
they are earned and distributed pursuant to the terms of this plan. Following
distribution, the Committee may require the Recipient or his Beneficiary, as the
case may be, to agree not to sell or otherwise dispose of his distributed Plan
Shares except in accordance with all then applicable Federal and state
securities laws, and the Committee may cause a legend to be placed on the stock
certificate(s) representing the distributed Plan Shares in order to restrict

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the transfer of the distributed Plan Shares for such period of time or under
such circumstances as the Committee, upon the advice of counsel, may deem
appropriate.

        7.04 VOTING OF PLAN SHARES. After a Plan Share Award has been made, the
Recipient shall be entitled to direct the Trustees as to the voting of the Plan
Shares which are covered by the Plan Share Award and which have not yet been
earned and distributed to him pursuant to Section 7.03, subject to rules and
procedures adopted by the Committee for this purpose. All shares of Common Stock
held by the Trust as to which Recipients have not directed the voting shall be
voted by the Trustees as the Committee in its discretion shall direct.


                                  ARTICLE VIII
                                      TRUST

        8.01 TRUST. The Trustees shall receive, hold, administer, invest and
make distributions and disbursements from the Trust in accordance with the
provisions of the Plan and Trust and the applicable directions, rules,
regulations, procedures and policies established by the Committee pursuant to
the Plan.

        8.02 MANAGEMENT OF TRUST. It is the intent of this Plan and Trust that
the Trustees shall have complete authority and discretion with respect to the
arrangement, control and investment of the Trust, and that the Trustees shall
invest all assets of the Trust in Common Stock to the fullest extent
practicable, except (i) to the extent that the Trustees determine that the
holding of monies in cash or cash equivalents is necessary to meet the
obligations of the Trust and (ii) contributions to the Trust by the Company
prior to the Offering may be temporarily invested in such interest-bearing
account or accounts as the Trustees shall determine to be appropriate. In
performing their duties, the Trustees shall have the power to do all things and
execute such instruments as may be deemed necessary or proper, including the
following powers:

             (a) To invest up to one hundred percent (100%) of all Trust
assets in Common Stock without regard to any law now or hereafter in force
limiting investments for trustees or other fiduciaries. The investment
authorized herein may constitute the only investment of the Trust, and in making
such investment, the Trustees are authorized to purchase Common Stock from the
Company or from any other source, and such Common Stock so purchased may be
outstanding, newly issued, or treasury shares.

             (b) To invest any Trust assets not otherwise invested in
accordance with (a) above, in such deposit accounts, and certificates of
deposit, obligations of the United States Government or its agencies or such
other investments as shall be considered the equivalent of cash.


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             (c) To sell, exchange or otherwise dispose of any property at any 
time held or acquired by the Trust.

             (d) To cause stocks, bonds or other securities to be registered in
the name of a nominee, without the addition of words indicating that such
security is an asset of the Trust (but accurate records shall be maintained
showing that such security is an asset of the Trust).

             (e) To hold cash without interest in such amounts as may in the
opinion of the Trustees be reasonable for the proper operation of the Plan and
Trust.

             (f) To employ brokers, agents, custodians, consultants and 
accountants.

             (g) To hire counsel to render advice with respect to their rights,
duties and obligations hereunder, and such other legal services or
representation as they may deem desirable.

             (h) To hold funds and securities representing the amounts to be
distributed to a Recipient or his Beneficiary as a consequence of a dispute as
to the disposition thereof, whether in a segregated account or held in common
with other assets of the Trust.

        Notwithstanding anything herein contained to the contrary, the Trustees
shall not be required to make any inventory, appraisal or settlement or report
to any court, or to secure any order of court for the exercise of any power
herein contained, or give bond.

        8.03 RECORDS AND ACCOUNTS. The Trustees shall maintain accurate and
detailed records and accounts of all transactions of the Trust, which shall be
available at all reasonable times for inspection by any legally entitled person
or entity to the extent required by applicable law, or any other person
determined by the Committee.

        8.04 EXPENSES. All costs and expenses incurred in the operation and
administration of this Plan shall be borne by the Company.

        8.05 INDEMNIFICATION. Subject to the requirements of applicable laws and
regulations, the Company shall indemnify, defend and hold the Trustees harmless
against all claims, expenses and liabilities arising out of or related to the
exercise of the Trustees' powers and the discharge of their duties hereunder,
unless the same shall be due to their gross negligence or willful misconduct.

                                   ARTICLE IX
                                  MISCELLANEOUS

        9.01 ADJUSTMENTS FOR CAPITAL CHANGES. The aggregate number of Plan
Shares available for distribution pursuant to the Plan Share Awards and the
number of Shares to

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which any Plan Share Award relates shall be proportionately adjusted for any
increase or decrease in the total number of outstanding shares of Common Stock
issued subsequent to the effective date of the Plan resulting from any split,
subdivision or consolidation of shares or other capital adjustment, or other
increase or decrease in such shares effected without receipt or payment of
consideration by the Company.

        9.02 AMENDMENT AND TERMINATION OF PLAN. The Board may, by resolution, at
any time amend or terminate the Plan. However, upon termination of the Plan, all
Plan Share Awards will be distributed to the Recipients regardless of whether or
not such Plan Share Awards had otherwise been earned under the service
requirements set forth in Article VII; provided, however, that no Awards shall
be distributed prior to six months from the date of grant of the Plan Share
Award.

        9.03 NONTRANSFERABLE. Plan Share Awards and rights to Plan Shares shall
not be transferable by a Recipient, and during the lifetime of the Recipient,
Plan Shares may only be earned by and paid to a Recipient who was notified in
writing of an Award by the Committee pursuant to Section 6.02. No Recipient or
Beneficiary shall have any right in or claim to any assets of the Plan or Trust,
nor shall the Company or any Subsidiary be subject to any claim for benefits
hereunder.

        9.04 EMPLOYMENT RIGHTS. Neither the Plan nor any grant of a Plan Share
Award or Plan Shares hereunder nor any action taken by the Trustees, the
Committee or the Board in connection with the Plan shall create any right on the
part of any Employee to continue in the employ of the Company or any Subsidiary.

        9.05 VOTING AND DIVIDEND RIGHTS. No Recipient shall have any voting or
dividend rights or other rights of a stockholder in respect of any Plan Shares
covered by a Plan Share Award, except as expressly provided in Sections 7.02 and
7.04 above, prior to the time said Plan Shares are actually earned and
distributed to him.

        9.06 GOVERNING LAW. The Plan and Trust shall be governed by the laws of
the State of Texas.

        9.07 EFFECTIVE DATE. This Plan shall be effective as of the Effective
Date, and Awards may be granted hereunder as of or after the Effective Date and
as long as the Plan remains in effect.

        9.08 TERM OF PLAN. This Plan shall remain in effect until the earlier of
(1) ten (10) years from the Effective Date, (2) termination by the Board, or (3)
the distribution to Recipients and Beneficiaries of all assets of the Trust.

        9.09 TAX STATUS OF TRUST. It is intended that the trust established
hereby be treated as a Grantor Trust of the Company under the provisions of
Section 671 et seq. of the Code, as the same may be amended from time to time.

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        IN WITNESS WHEREOF, the Company has caused this Agreement to be executed
by its duly authorized officers and the corporate seal to be affixed and duly
attested, and the initial Trustees of the Trust established pursuant hereto have
duly and validly executed this Agreement, all on this 31st day of March 1994.


                                            JACKSONVILLE SAVINGS AND LOAN
                                             ASSOCIATION

                                            By:
                                                ---------------------------
                                                   Charles Broadway
                                                   President and Director
                                          
ATTEST:                                   
                                          
---------------------                                          
Jaunice Friday                            
Secretary                                 
                                          
                                            -----------------------------------
                                            W.G. Brown
                                          
                                            -----------------------------------
                                            Frank H. Brown
                                          
                                            -----------------------------------
                                            Dr. Joe Tollett
                                          

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