================================================================================

                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)

|X|   Quarterly report under Section 13 or 15(d) of the Securities Exchange Act
      of 1934

FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2003

|_|   Transition report under Section 13 or 15(d) of the Exchange Act

For the transition period from           to
                               --------     --------

Commission file number 000-30248
                       ---------

                           JACKSONVILLE BANCORP, INC.
                           --------------------------
        (Exact Name of Small Business Issuer as Specified in Its Charter)

            FLORIDA                                            59-3472981
            -------                                            ----------
 (State or Other Jurisdiction                               (I.R.S. Employer
of Incorporation or Organization)                           Identification No.)

                        76 SOUTH LAURA STREET, SUITE 104
                           JACKSONVILLE, FLORIDA 32202
                        --------------------------------
                    (Address of Principal Executive Offices)

                                 (904) 421-3040
                                 --------------
                (Issuer's Telephone Number, Including Area Code)


         ---------------------------------------------------------------
         (Former Name, Former Address and Former Fiscal Year, if Changed
                               Since Last Report)

Check whether the issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days:

YES  |X| NO |_|

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:

COMMON STOCK, PAR VALUE $.01 PER SHARE                    1,467,066 SHARES
--------------------------------------          --------------------------------
              (Class)                           Outstanding at November 12, 2003

Transitional Small Business Format (check one): YES |_|  NO |X|

================================================================================
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

                                      INDEX

PART I. FINANCIAL INFORMATION

   ITEM 1. FINANCIAL STATEMENTS                                             PAGE
                                                                            ----
     Condensed Consolidated Balance Sheets -
       At September 30, 2003 (Unaudited) and At December 31, 2002.............2

     Condensed Consolidated Statements of Earnings (Unaudited) -
       Three and Nine Months Ended September 30, 2003 and 2002................3

     Condensed Consolidated Statements of Stockholders' Equity
       (Unaudited) - Nine Months Ended September 30, 2003 and 2002............4

     Condensed Consolidated Statements of Cash Flows (Unaudited) -
       Nine Months Ended September 30, 2003 and 2002..........................5

     Notes to Condensed Consolidated Financial Statements (Unaudited)......6-10

     Review by Independent Accountants.......................................11

     Report on Review by Independent Accountants.............................12

   ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
     AND RESULTS OF OPERATIONS............................................13-18

   ITEM 3. CONTROLS AND PROCEDURES...........................................19

PART II. OTHER INFORMATION

   ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K..................................19

SIGNATURES...................................................................20


                                       1
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

                          PART I. FINANCIAL INFORMATION

                          ITEM 1. FINANCIAL STATEMENTS

                      CONDENSED CONSOLIDATED BALANCE SHEETS
                  (Dollars in thousands, except share amounts)

                                                   SEPTEMBER 30,    DECEMBER 31,
    ASSETS                                             2003             2002
                                                   -------------    ------------
                                                   (Unaudited)
Cash and due from banks ...........................  $   7,403           3,924
Federal funds sold ................................      2,328             357
                                                     ---------         -------
              Total cash and cash equivalents .....      9,731           4,281

Securities available for sale .....................     18,513          12,481
Securities held to maturity .......................         50              50
Loans, net of allowance for loan losses
  of $1,881 in 2003 and $1,100 in 2002 ............    140,571         108,933
Accrued interest receivable .......................        787             660
Premises and equipment, net .......................      2,994           3,122
Federal Home Loan Bank stock, at cost .............        266             132
Deferred income taxes .............................        830             988
Other assets ......................................        252             184
                                                     ---------         -------
              Total assets ........................  $ 173,994         130,831
                                                     =========         =======

    LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities:
    Noninterest-bearing demand deposits ...........     22,057          16,781
    Money market, NOW and savings deposits ........     35,717          20,931
    Time deposits .................................    102,855          72,416
                                                     ---------         -------
              Total deposits ......................    160,629         110,128

    Federal funds purchased .......................         --           3,000
    Other borrowings ..............................         --           4,747
    Other liabilities .............................        549             389
                                                     ---------         -------
              Total liabilities ...................    161,178         118,264
                                                     ---------         -------
Stockholders' equity:
    Preferred stock, $.01 par value;
         2,000,000 shares authorized,
         none issued or outstanding ...............         --              --
    Common stock, $.01 par value;
         8,000,000 shares authorized,
         1,467,066 shares issued and outstanding ..         15              15
    Additional paid-in capital ....................     14,229          14,229
    Accumulated deficit ...........................     (1,297)         (1,793)
    Accumulated other comprehensive
         (loss) income ............................       (131)            116
                                                     ---------         -------
              Total stockholders' equity ..........     12,816          12,567
                                                     ---------         -------
              Total liabilities and
                stockholders' equity ..............  $ 173,994         130,831
                                                     =========         =======

See Accompanying Notes to Condensed Consolidated Financial Statements.


                                       2
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

                  CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
                                   (Unaudited)
                (Dollars in thousands, except per share amounts)

<TABLE>
<CAPTION>
                                                              THREE MONTHS ENDED         NINE MONTHS ENDED
                                                                 SEPTEMBER 30,              SEPTEMBER 30,
                                                            -----------------------    ----------------------
                                                               2003         2002         2003          2002
                                                            ----------    ---------    ---------    ---------
<S>                                                         <C>               <C>          <C>          <C>
Interest income:
    Loans ...............................................   $    2,048        1,622        5,766        4,326
    Securities ..........................................          242          182          647          464
    Other interest-earning assets .......................            5           12           16           29
                                                            ----------    ---------    ---------    ---------
            Total interest income .......................        2,295        1,816        6,429        4,819
                                                            ----------    ---------    ---------    ---------
Interest expense:
    Deposits ............................................          799          757        2,292        2,030
    Other borrowings ....................................            2           --           23            3
                                                            ----------    ---------    ---------    ---------
            Total interest expense ......................          801          757        2,315        2,033
                                                            ----------    ---------    ---------    ---------
            Net interest income .........................        1,494        1,059        4,114        2,786

Provision for loan losses ...............................          341           97          919          342
                                                            ----------    ---------    ---------    ---------
            Net interest income after provision for
              loan losses ...............................        1,153          962        3,195        2,444
                                                            ----------    ---------    ---------    ---------
Noninterest income:
    Service charges on deposit accounts .................          136          115          425          327
    Other ...............................................           38           38           89           96
                                                            ----------    ---------    ---------    ---------
            Total noninterest income ....................          174          153          514          423
                                                            ----------    ---------    ---------    ---------
Noninterest expense:
    Salaries and employee benefits ......................          484          398        1,464        1,147
    Occupancy expense ...................................          159          164          470          436
    Professional fees ...................................           39           49          151          115
    Data processing .....................................           98          102          296          305
    Advertising .........................................           39           19          102           55
    Other ...............................................          107           92          423          287
                                                            ----------    ---------    ---------    ---------
            Total noninterest expense ...................          926          824        2,906        2,345
                                                            ----------    ---------    ---------    ---------
Earnings before income taxes ............................          401          291          803          522

            Income taxes ................................          156          112          307          199
                                                            ----------    ---------    ---------    ---------
Net earnings ............................................   $      245          179          496          323
                                                            ==========    =========    =========    =========
Basic earnings per share ................................   $      .17          .12          .34          .25
                                                            ==========    =========    =========    =========
Weighted average number of shares outstanding for basic .    1,467,066    1,467,066    1,467,066    1,291,605
                                                            ==========    =========    =========    =========
Diluted earnings per share ..............................   $      .16          .12          .33          .25
                                                            ==========    =========    =========    =========
Weighted average number of shares outstanding for diluted    1,497,760    1,478,264    1,489,499    1,294,181
                                                            ==========    =========    =========    =========
Dividends per share .....................................           --           --           --           --
                                                            ==========    =========    =========    =========
</TABLE>

See Accompanying Notes to Condensed Consolidated Financial Statements.


                                       3
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

            CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

                  NINE MONTHS ENDED SEPTEMBER 30, 2003 AND 2002
                             (Dollars in thousands)

<TABLE>
<CAPTION>
                                                                                                           ACCUMULATED
                                                                                                              OTHER
                                                                                                             COMPRE-
                                                                COMMON STOCK        ADDITIONAL                HENSIVE    TOTAL
                                                              -----------------      PAID-IN    ACCUMULATED   INCOME  STOCKHOLDERS'
                                                              SHARES     AMOUNT      CAPITAL      DEFICIT     (LOSS)     EQUITY
                                                              ------     ------     ----------  -----------  -------- -------------
<S>                 <C> <C>                                 <C>          <C>            <C>        <C>           <C>        <C>
Balance at December 31, 2001 ............................   1,017,066    $     10       9,705      (2,377)       (41)       7,297
                                                                                                                           ------
Comprehensive income:
  Net earnings (unaudited) ..............................          --          --          --         323         --          323

  Net change in unrealized gain (loss) on
    securities available for sale, net of income
    tax of $85 (unaudited) ..............................          --          --          --          --        141          141
                                                                                                                           ------
  Comprehensive income (unaudited) ......................                                                                     464
                                                                                                                           ------
Proceeds from sale of common stock, net of
  offering costs of $195 (unaudited) ....................     450,000           5       4,525          --         --        4,530
                                                            ---------    --------      ------      ------       ----       ------
Balance at September 30, 2002 (unaudited) ...............   1,467,066    $     15      14,230      (2,054)       100       12,291
                                                            =========    ========      ======      ======       ====       ======
Balance at December 31, 2002 ............................   1,467,066    $     15      14,229      (1,793)       116       12,567
                                                                                                                           ------

Net earnings (unaudited) ................................          --          --          --         496         --          496

Comprehensive income:
  Net change in unrealized gain on securities
    available for sale, net of income tax benefit
    of $149 (unaudited) .................................          --          --          --          --       (247)        (247)
                                                                                                                           ------
  Comprehensive income (unaudited) ......................                                                                     249
                                                            ---------    --------      ------      ------       ----       ------
Balance at September 30, 2003 (unaudited) ...............   1,467,066    $     15      14,229      (1,297)      (131)      12,816
                                                            =========    ========      ======      ======       ====       ======
</TABLE>


See Accompanying Notes to Condensed Consolidated Financial Statements.


                                       4
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                             (Dollars in thousands)

<TABLE>
<CAPTION>
                                                                                                            NINE MONTHS ENDED
                                                                                                               SEPTEMBER 30,
                                                                                                       -----------------------------
                                                                                                         2003                 2002
                                                                                                       ---------            --------
<S>                                                                                                    <C>                      <C>
Cash flows from operating activities:
    Net earnings ...........................................................................           $    496                 323
    Adjustments to reconcile net earnings to net cash
      provided by operating activities:
        Depreciation and amortization ......................................................                209                 209
        Provision for loan losses ..........................................................                919                 342
        Net amortization of deferred loan (fees) costs .....................................                (14)                  4
        Deferred income taxes ..............................................................                307                 199
        Net accretion of securities ........................................................                (14)                (47)
        Increase in accrued interest receivable and other assets ...........................               (195)                (90)
        Increase in other liabilities ......................................................                160                 216
                                                                                                       --------             -------
                Net cash provided by operating activities ..................................              1,868               1,156
                                                                                                       --------             -------
Cash flows from investing activities:
    Purchases of securities available for sale .............................................            (12,703)             (6,976)
    Calls of securities available for sale .................................................              5,072               2,430
    Principal repayments on securities available for sale ..................................              1,217                 637
    Purchase of Federal Home Loan Bank stock ...............................................               (134)                (69)
    Net increase in loans ..................................................................            (32,543)            (31,130)
    Net purchases of premises and equipment ................................................                (81)                (90)
                                                                                                       --------             -------
                Net cash used in investing activities ......................................            (39,172)            (35,198)
                                                                                                       --------             -------
Cash flows from financing activities:
    Net increase in deposits ...............................................................             50,501              31,791
    Net decrease in other borrowings .......................................................             (4,747)             (2,110)
    Proceeds from sale of common stock, net of offering costs ..............................                 --               4,530
    Net decrease in federal funds purchased ................................................             (3,000)             (1,250)
                                                                                                       --------             -------
                Net cash provided by financing activities ..................................             42,754              32,961
                                                                                                       --------             -------
Net increase (decrease) in cash and cash equivalents .......................................              5,450              (1,081)

Cash and cash equivalents at beginning of period ...........................................              4,281               5,288
                                                                                                       --------             -------
Cash and cash equivalents at end of period .................................................           $  9,731               4,207
                                                                                                       ========             =======
Supplemental disclosures of cash flow information:
    Cash paid during the period for:
        Interest ...........................................................................           $  2,293               1,995
                                                                                                       ========             =======
        Income taxes .......................................................................           $     --                  --
                                                                                                       ========             =======
    Noncash transaction:
        Accumulated other comprehensive income (loss), net change in
            unrealized gain on securities available for sale, net of tax ...................           $   (247)                141
                                                                                                       ========             =======
</TABLE>

See Accompanying Notes to Condensed Consolidated Financial Statements.


                                       5
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(1)   DESCRIPTION  OF BUSINESS AND SUMMARY OF  SIGNIFICANT  ACCOUNTING  POLICIES
      GENERAL.   Jacksonville   Bancorp,  Inc.   ("Jacksonville   Bancorp")  was
            incorporated on October 24, 1997.  Jacksonville Bancorp owns 100% of
            the outstanding  common stock of The Jacksonville Bank (the "Bank").
            Jacksonville  Bancorp's only business is the ownership and operation
            of the Bank. The Bank is a Florida  state-chartered  commercial bank
            and its  deposits  are  insured  by the  Federal  Deposit  Insurance
            Corporation.  The Bank  provides  a  variety  of  community  banking
            services to businesses and individuals through three banking offices
            in Jacksonville,  Florida.  The primary  business  activities of the
            Bank's  wholly-owned   subsidiary  Fountain  Financial,   Inc.  (the
            "Insurance  Agency") consist of referral of customers of the Bank to
            third parties for sale of insurance products.

            In  the   opinion  of   management,   the   accompanying   condensed
            consolidated    financial   statements   contain   all   adjustments
            (consisting  principally of normal recurring  accruals) necessary to
            present  fairly the financial  position at September  30, 2003,  the
            results of operations  for the three- and  nine-month  periods ended
            September  30,  2003  and 2002 and  cash  flows  for the  nine-month
            periods ended September 30, 2003 and 2002. The results of operations
            for the three  and nine  months  ended  September  30,  2003 are not
            necessarily  indicative  of the results to be expected  for the year
            ending December 31, 2003.

      BASIS OF PRESENTATION.  The accompanying  condensed consolidated financial
            statements  include the accounts of Jacksonville  Bancorp,  the Bank
            and  the  Insurance  Agency  (collectively,   the  "Company").   All
            significant   intercompany   accounts  and  transactions  have  been
            eliminated in consolidation.

(2)   LOAN  IMPAIRMENT  AND  LOAN  LOSSES.  An  analysis  of the  change  in the
            allowance for loan losses follows (in thousands).

<TABLE>
<CAPTION>
                                                              THREE MONTHS ENDED        NINE MONTHS ENDED
                                                                 SEPTEMBER 30,            SEPTEMBER 30,
                                                              ------------------        -----------------
                                                              2003          2002        2003          2002
                                                              ----          ----        ----          ----
<S>                                                         <C>              <C>        <C>            <C>
Balance at beginning of period ..........................   $ 1,656          902        1,100          657
Charge-offs .............................................      (116)          --         (138)          --
Recoveries ..............................................        --           --           --           --
Provision for loan losses ...............................       341           97          919          342
                                                            -------          ---        -----          ---
Balance at end of period ................................   $ 1,881          999        1,881          999
                                                            =======          ===        =====          ===
</TABLE>

Nonaccrual and past due loans were as follows (in thousands).

                                                           AT SEPTEMBER 30,
                                                         -------------------
                                                         2003           2002
                                                         ----           ----

Nonaccrual loans ...................................    $1,487           192
Past due ninety days or more, but still accruing ...       297            --
                                                        ------           ---
                                                        $1,784           192
                                                        ======           ===

                                                                     (continued)


                                       6
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

   NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED), CONTINUED

(2)   LOAN IMPAIRMENT AND LOAN LOSSES,  CONTINUED.  The following summarizes the
            amount of impaired loans (in thousands).

                                                                 AT
                                                     ---------------------------
                                                     SEPTEMBER 30,  DECEMBER 31,
                                                     -------------  ------------
                                                         2003         2002
                                                         ----         ----
Loans identified as impaired:
    Gross loans with related allowance
      for losses recorded ..........................   $ 1,337            388
    Less allowance for losses on these loans .......       684             58
                                                       -------            ---
Net investment in impaired loans ...................   $   653            330
                                                       =======            ===

The average net investment in impaired loans and interest income  recognized and
            received on impaired loans are as follows (in thousands).

<TABLE>
<CAPTION>
                                                            THREE MONTHS ENDED         NINE MONTHS ENDED
                                                                SEPTEMBER 30,             SEPTEMBER 30,
                                                            ------------------         -----------------
                                                             2003          2002         2003         2002
                                                             ----          ----         ----         ----
<S>                                                         <C>            <C>          <C>          <C>
Average net investment in impaired loans ................   $  744           --          626           --
                                                            ======         ====         ====         ====

Interest income recognized on impaired loans ............   $   --           --           --           --
                                                            ======         ====         ====         ====

Interest income received on impaired loans ..............   $   --           --           --           --
                                                            ======         ====         ====         ====
</TABLE>

(3)   EARNINGS  PER SHARE.  Basic  earnings  per share has been  computed on the
            basis of the  weighted  average  number of  shares  of common  stock
            outstanding.  Diluted  earnings per share were computed based on the
            weighted  average  number of shares  outstanding  plus the effect of
            outstanding  common stock options and warrants,  computed  using the
            treasury stock method. The following tables present the calculations
            of  earnings  per share  (dollars  in  thousands,  except  per share
            amounts).

<TABLE>
<CAPTION>
                                                THREE MONTHS ENDED                     NINE MONTHS ENDED
                                                SEPTEMBER 30, 2003                     SEPTEMBER 30, 2003
                                      -------------------------------------    -------------------------------------
                                                     WEIGHTED                                  WEIGHTED
                                                     AVERAGE      PER SHARE                    AVERAGE     PER SHARE
                                      EARNINGS        SHARES        AMOUNT     EARNINGS         SHARES       AMOUNT
                                      --------      ----------    ---------    --------       ---------    ---------
<S>                                   <C>           <C>             <C>        <C>             <C>             <C>
Basic earnings per share:
     Net earnings available to
        common stockholders ...       $   245       1,467,066       $.17       $     496       1,467,066       $.34
                                                                    ====                                       ====
Effect of dilutive securities:
     Incremental shares from
        assumed exercise of
        options ...............                        26,432                                     22,433

     Incremental shares from
        assumed exercise of
        warrants ..............                         4,262                                         --
                                                    ---------                                  ---------
Diluted earnings per share:
     Net earnings available to
        common stockholders and
        assumed conversion ....       $   245       1,497,760       $.16       $     496       1,489,499       $.33
                                      =======       =========       ====       =========       =========       ====
</TABLE>

                                                                     (continued)


                                       7
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

   NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED), CONTINUED

(3)   EARNINGS PER SHARE, CONTINUED.

<TABLE>
<CAPTION>
                                                THREE MONTHS ENDED                     NINE MONTHS ENDED
                                                SEPTEMBER 30, 2002                     SEPTEMBER 30, 2002
                                      -------------------------------------    -------------------------------------
                                                     WEIGHTED                                  WEIGHTED
                                                     AVERAGE      PER SHARE                    AVERAGE     PER SHARE
                                      EARNINGS        SHARES        AMOUNT     EARNINGS         SHARES       AMOUNT
                                      --------      ----------    ---------    --------       ---------    ---------
<S>                                   <C>           <C>             <C>        <C>             <C>             <C>
Basic earnings per share:
     Net earnings available to
        common stockholders ...       $   179       1,467,066       $.12       $     323       1,291,605       $.25
                                                                    ====                                       ====
Effect of dilutive securities:
     Incremental shares from
        assumed exercise of
        options ...............                        11,198                                      2,576
                                                    ---------                                  ---------
Diluted earnings per share:
     Net earnings available to
        common stockholders and
        assumed conversion ....       $   179       1,478,264       $.12       $     323       1,294,181       $.25
                                      =======       =========       ====       =========       =========       ====
</TABLE>

(4)   REGULATORY  MATTERS.  The Bank is  required to  maintain  certain  minimum
            regulatory  capital  requirements.  The  following  is a summary  at
            September  30,  2003,  of  the regulatory  capital  requirements and
            actual capital on a percentage basis.

<TABLE>
<CAPTION>
                                                                        ACTUAL
                                                                  ------------------       REGULATORY
                                                                  COMPANY       BANK       REQUIREMENT
                                                                  -------       ----       -----------
<S>                                                               <C>           <C>            <C>
Total capital to risk-weighted assets......................       10.22%        9.71%          8.00%
Tier 1 capital to risk-weighted assets.....................        8.97%        8.46%          4.00%
Tier 1 capital to average assets - leverage ratio..........        7.75%        7.30%          4.00%
</TABLE>

                                                                     (continued)


                                       8
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

   NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED), CONTINUED

(5)   STOCK  OPTIONS.  The Company  established a Stock Option plan (the "Plan")
            for its  directors,  officers  and  employees.  The total  number of
            options  which  can be  granted  under  this plan is  220,099.  Both
            qualified and nonqualified  options can be granted,  and all options
            have ten year terms and vest over  periods up to five  years.  As of
            September 30, 2003,  80,242  shares  remain  available to be granted
            under  the Plan.  A summary  of stock  option  transactions  follows
            (dollars in thousands, except per share amounts).

<TABLE>
<CAPTION>
                                                                            AVERAGE      RANGE       AGGREGATE
                                                              NUMBER OF    PER SHARE       OF         OPTION
                                                               SHARES       PRICES       PRICES        PRICE
                                                             ----------    ---------    --------     ---------
<S>                                                            <C>         <C>          <C>          <C>
Outstanding at December 31, 2001 ........................      135,857     $  10.00     $  10.00     $  1,359
Options granted .........................................        4,000        10.00        10.00           40
                                                               -------                               --------
Outstanding at September 30, 2002 .......................      139,857     $  10.00     $  10.00     $  1,399
                                                               =======     ========     ========     ========
Outstanding at December 31, 2002
      and September 30, 2003 ............................      139,857     $  10.00     $  10.00     $  1,399
                                                               =======     ========     ========     ========
</TABLE>

The following  table  illustrates  the  effect on net  earnings and earnings per
      share if the Company had applied the fair value recognition  provisions of
      FASB No. 123 to stock-based employee  compensation  (dollars in thousands,
      except per share amounts).

<TABLE>
<CAPTION>
                                                             THREE MONTHS ENDED          NINE MONTHS ENDED
                                                                SEPTEMBER 30,              SEPTEMBER 30,
                                                             ------------------          -----------------
                                                             2003           2002         2003         2002
                                                             ----           ----         ----         ----
<S>                                                         <C>              <C>          <C>          <C>
Net earnings, as reported ...............................   $   245          179          496          323

Deduct: Total stock-based employee
        compensation determined under the fair
        value based method for all awards, net of
        related tax effect ..............................        (5)         (10)         (14)         (31)
                                                            -------          ---          ---          ---
Proforma net earnings ...................................   $   240          169          482          292
                                                            =======          ===          ===          ===
Basic earnings per share:
              As reported ...............................   $   .17          .12          .34          .25
                                                            =======          ===          ===          ===
              Proforma ..................................   $   .16          .12          .33          .23
                                                            =======          ===          ===          ===
Diluted earnings per share:
              As reported ...............................   $   .16          .12          .33          .25
                                                            =======          ===          ===          ===
              Proforma ..................................   $   .16          .11          .32          .23
                                                            =======          ===          ===          ===
</TABLE>

                                                                     (continued)


                                       9
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

   NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED), CONTINUED

(5)   STOCK  OPTIONS,  CONTINUED.  In order to  calculate  the fair value of the
            options,  it was assumed that the risk-free  interest rate was 5.26%
            during  the period  ended  September  30,  2002,  there  would be no
            dividends paid by the Company over the exercise period, the expected
            life of the options would be the entire exercise  period,  and stock
            volatility  would be .13%. For purposes of the proforma  disclosures
            the  estimated  fair value is treated as expense  during the vesting
            period.  There were no options  granted during the nine months ended
            September 30, 2003.  The following  information  summarizes the fair
            value of options granted under the plan.

                                                            NINE MONTHS ENDED
                                                              SEPTEMBER 30,
                                                           -------------------
                                                           2003           2002
                                                           ----           ----
Weighted average per share grant-date
      fair value of options
      issued during the period .....................      $  --           4.17
                                                          =====           ====


                                       10
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

                        REVIEW BY INDEPENDENT ACCOUNTANTS

Hacker, Johnson & Smith PA, the Company's independent  accountants,  have made a
limited  review of the interim  financial data as of September 30, 2003, and for
the three- and nine-month periods ended September 30, 2003 and 2002 presented in
this  document,  in  accordance  with  standards  established  by  the  American
Institute of Certified Public Accountants.

Their  report  furnished  pursuant to Article 10 of  Regulation  S-X is included
herein.


                                       11
<PAGE>

                         INDEPENDENT ACCOUNTANTS' REPORT

The Board of Directors
Jacksonville Bancorp, Inc.
Jacksonville, Florida:

      We have reviewed the accompanying  condensed consolidated balance sheet of
Jacksonville  Bancorp,  Inc. and Subsidiary  (the "Company") as of September 30,
2003, the related condensed  consolidated  statements of earnings for the three-
and  nine-month  periods  ended  September  30,  2003 and  2002 and the  related
condensed consolidated statements of stockholders' equity and cash flows for the
nine-month periods ended September 30, 2003 and 2002. These financial statements
are the responsibility of the Company's management.

      We conducted our reviews in accordance  with standards  established by the
American  Institute  of  Certified  Public  Accountants.  A  review  of  interim
financial  information consists principally of applying analytical procedures to
financial  data and making  inquiries of persons  responsible  for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with auditing  standards  generally  accepted in the United States of
America,  the objective of which is the  expression of an opinion  regarding the
financial  statements taken as a whole.  Accordingly,  we do not express such an
opinion.

      Based on our reviews, we are not aware of any material  modifications that
should be made to the condensed  consolidated  financial  statements referred to
above for them to be in conformity with accounting principles generally accepted
in the United States of America.

      We  have  previously   audited,  in  accordance  with  auditing  standards
generally  accepted in the United States of America,  the  consolidated  balance
sheet as of December  31,  2002,  and the  related  consolidated  statements  of
operations,  stockholders'  equity  and cash  flows for the year then ended (not
presented  herein);  and in our report  dated  February 6, 2003 we  expressed an
unqualified opinion on those consolidated financial statements.  In our opinion,
the information set forth in the  accompanying  condensed  consolidated  balance
sheet as of December 31, 2002, is fairly stated,  in all material  respects,  in
relation to the consolidated balance sheet from which it has been derived.


/s/ Hacker, Johnson & Smith PA

HACKER, JOHNSON & SMITH PA
Tampa, Florida
November 5, 2003


                                       12
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

                  ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS
                 OF FINANCIAL CONDITION AND RESULTS OF OPERATION

GENERAL

      Jacksonville Bancorp, Inc. ("Jacksonville Bancorp") which was incorporated
      on October 24,  1997,  owns 100% of the  outstanding  common  stock of The
      Jacksonville Bank ("Bank")  (collectively,  the "Company").  The Bank is a
      Florida  state-chartered  commercial  bank and its deposits are insured by
      the Federal Deposit Insurance Corporation.  The Bank provides a variety of
      community banking services to businesses and individuals through its three
      banking offices located in  Jacksonville,  Florida.  The primary  business
      activities  of the Bank's  wholly-owned  subsidiary,  Fountain  Financial,
      Inc.,  consist of referral of customers  of the Bank to third  parties for
      sale of insurance products.

LIQUIDITY AND CAPITAL RESOURCES

      The  Company's  primary  source  of cash  during  the  nine  months  ended
      September 30, 2003,  was the net increase in deposits of $50.5 million and
      proceeds  from  maturities,  calls and  principal  paydowns of  securities
      totaling  $6.3 million.  During the nine months ended  September 30, 2003,
      cash was used to originate  loans,  net of  repayments,  of $32.5 million,
      purchase  securities  totaling  approximately  $12.7  million and to repay
      federal funds purchased of approximately $3.0 million and other borrowings
      of  approximately  $4.7  million.  The Company had time  deposits of $65.4
      million  maturing in one year or less at September  30, 2003.  The Company
      exceeded its regulatory liquidity requirements at September 30, 2003.

      The Company is a party to financial  instruments  with  off-balance  sheet
      risk in the normal course of business to meet the  financing  needs of its
      customers.  These financial  instruments are commitments to extend credit,
      unused lines of credit, and standby letters of credit and may involve,  to
      varying  degrees,  elements of credit and interest  rate risk in excess of
      the amount  recognized in the  consolidated  balance  sheet.  The contract
      amounts of these instruments reflect the extent of involvement the Company
      has in these financial instruments.

      The Company's  exposure to credit loss in the event of  nonperformance  by
      the other party to the  financial  instrument  for  commitments  to extend
      credit is  represented  by contractual  amount of those  instruments.  The
      Company uses the same credit policies in making commitments as it does for
      on-balance sheet instruments.

      Commitments  to extend credit are agreements to lend a customer as long as
      there  is no  violation  of any  condition  established  in the  contract.
      Commitments  generally have fixed  expiration  dates or other  termination
      clauses and may require  payment of a fee.  Since some of the  commitments
      are  expected to expire  without  being drawn upon,  the total  commitment
      amount  does not  necessarily  represent  future  cash  requirements.  The
      Company  evaluates  each  customers'  credit  worthiness on a case-by-case
      basis.  The  amount of  collateral  obtained  if deemed  necessary  by the
      Company  upon  extension  of  credit  is  based  on  management's   credit
      evaluation of the counterparty.


                                       13
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

Standby letters of credit are conditional  commitments  issued by the Company to
guarantee  the  performance  of a customer  to a third  party.  The credit  risk
involved in issuing  letters of credit is essentially  the same as that involved
in extending loans to customers.

Commitments  to extend  credit,  unused  lines of credit and standby  letters of
credit  typically  result in loans with market  interest  rates when  funded.  A
summary of the contract  amounts of the  Company's  financial  instruments  with
off-balance sheet risk at September 30, 2003, follows (in thousands).

                                                                CONTRACT
                                                                 AMOUNT
                                                                --------
      Commitments to extend credit.........................     $  6,295
                                                                ========

      Unused lines of credit...............................     $ 19,542
                                                                ========

      Standby letters of credit............................     $    356
                                                                ========

Management  believes that the Company has adequate  resources to fund all of its
commitments  and that  substantially  all of its  existing  commitments  will be
funded in the next twelve months.


                                       14
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

RESULTS OF OPERATIONS

The operating  results of the Company depend  primarily on net interest  income,
which is the difference between interest income on  interest-earning  assets and
interest  expense  on  interest-bearing  liabilities,  consisting  primarily  of
deposits.  Net interest  income is determined by the  difference  between yields
earned on interest-earning assets and rates paid on interest-bearing liabilities
("interest rate spread") and the relative amounts of interest-earning assets and
interest-bearing  liabilities. The Company's interest-rate spread is affected by
regulatory,  economic,  and competitive  factors that influence  interest rates,
loan demand,  and deposit  flows.  In addition,  the  Company's net earnings are
affected by the level of nonperforming loans and foreclosed real estate, as well
as the level of noninterest income, and noninterest  expenses,  such as salaries
and employee benefits, and occupancy and equipment costs.

The following table sets forth, for the periods indicated, information regarding
(i) the total dollar amount of interest and dividend  income of the Company from
interest-earning  assets and the resultant  average yield; (ii) the total dollar
amount of interest  expense on  interest-bearing  liabilities  and the resultant
average costs; (iii) net  interest/dividend  income;  (iv) interest rate spread;
and (v) net  interest  margin.  Average  balances  are  based on  average  daily
balances.

<TABLE>
<CAPTION>
                                                                              Three Months Ended September 30,
                                                      ---------------------------------------------------------------------------
                                                                       2003                                  2002
                                                      ------------------------------------   ------------------------------------
                                                                      INTEREST     AVERAGE                  INTEREST      AVERAGE
                                                      AVERAGE           AND         YIELD/     AVERAGE         AND        YIELD/
                                                      BALANCE        DIVIDENDS       RATE      BALANCE      DIVIDENDS      RATE
                                                      -------        ---------       ----      -------      ---------      ----
                                                                                  (Dollars in thousands)
<S>                                                    <C>              <C>          <C>      <C>              <C>         <C>
Interest-earning assets:
   Loans (1) .......................................   $ 138,618        2,048        5.86%    $  95,248        1,622       6.76%
   Securities ......................................      17,379          242        5.52        10,571          182       6.84
   Other interest-earning assets (2) ...............       2,179            5         .91         2,706           12       1.67
                                                       ---------        -----                 ---------      -------
      Total interest-earning assets ................     158,176        2,295        5.76       108,525        1,816       6.64
                                                                      -------                                -------
Noninterest-earning assets .........................       8,805                                  8,428
                                                       ---------                              ---------
      Total assets .................................   $ 166,981                              $ 116,953
                                                       =========                              =========
Interest-bearing liabilities:
   NOW deposits ....................................       5,223            2         .15         2,071            3        .57
   Money market deposits ...........................       7,313           27        1.46         3,818           20       2.08
   Savings deposits ................................      17,139           55        1.27        20,270          134       2.62
   Time deposits ...................................     102,717          715        2.76        64,326          600       3.70
   Other borrowings ................................         651            2        1.22            51           --         --
                                                       ---------        -----                 ---------      -------
      Total interest-bearing liabilities ...........     133,043          801        2.39        90,536          757       3.31
                                                                      -------                                -------
Noninterest-bearing liabilities ....................      21,006                                 14,213
Stockholders' equity ...............................      12,932                                 12,204
                                                       ---------                              ---------
      Total liabilities and stockholders' equity ...   $ 166,981                              $ 116,953
                                                       =========                              =========
Net interest/dividend income .......................                  $ 1,494                                $ 1,059
                                                                      =======                                =======
Interest rate spread (3) ...........................                                 3.37%                                 3.33%
                                                                                     ====                                  ====
Net interest margin (4) ............................                                 3.75%                                 3.87%
                                                                                     ====                                  ====

Ratio of average interest-earning assets to
   average interest-bearing liabilities ............        1.19                                   1.20
                                                            ====                                   ====
</TABLE>

----------
1)    Includes nonaccrual loans.
2)    Includes federal funds sold.
3)    Interest rate spread  represents the difference  between the average yield
      on  interest-earning  assets  and the  average  cost  of  interest-bearing
      liabilities.
4)    Net   interest   margin  is  net  interest   income   divided  by  average
      interest-earning assets.


                                       15
<PAGE>


                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY


The following table sets forth, for the periods indicated, information regarding
(i) the total dollar amount of interest and dividend  income of the Company from
interest-earning  assets and the resultant  average yield; (ii) the total dollar
amount of interest  expense on  interest-bearing  liabilities  and the resultant
average costs; (iii) net  interest/dividend  income;  (iv) interest rate spread;
and (v) net  interest  margin.  Average  balances  are  based on  average  daily
balances.

<TABLE>
<CAPTION>
                                                                      NINE MONTHS ENDED SEPTEMBER 30,
                                                    ----------------------------------------------------------------
                                                                  2003                            2002
                                                    -------------------------------    -----------------------------
                                                               INTEREST     AVERAGE               INTEREST   AVERAGE
                                                    AVERAGE       AND       YIELD/     AVERAGE       AND     YIELD/
                                                    BALANCE    DIVIDENDS     RATE      BALANCE    DIVIDENDS   RATE
                                                    -------    ---------     ----      -------    ---------   ----
                                                                          (DOLLARS IN THOUSANDS)
Interest-earning assets:
<S>                                               <C>            <C>         <C>     <C>             <C>      <C>
     Loans (1)..................................  $ 127,175      5,766       6.06%   $   84,380      4,326    6.85%
     Securities.................................     15,296        647       5.66         9,383        464    6.61
     Other interest-earning assets (2)..........      1,917         16       1.12         2,102         29    1.84
                                                  ---------      -----               ----------      -----
         Total interest-earning assets..........    144,388      6,429       5.95        95,865      4,819    6.72
                                                               -------                             -------
Noninterest-earning assets......................      8,713                               9,430
                                                  ---------                          ----------
         Total assets...........................  $ 153,101                          $  105,295
                                                  =========                          ==========
Interest-bearing liabilities:
     NOW deposits...............................      3,954          5        .17         2,598         10     .51
     Money market deposits......................      5,099         49       1.28         3,295         54    2.19
     Savings deposits...........................     16,433        164       1.33        19,365        406    2.80
     Time deposits..............................     94,226      2,074       2.94        55,135      1,560    3.78
     Other borrowings...........................      1,696         23       1.81           179          3    2.24
                                                  ---------      -----               ----------      -----
         Total interest-bearing liabilities.....    121,408      2,315       2.55        80,572      2,033    3.37
                                                               -------                             -------
Noninterest-bearing liabilities.................     18,828                              14,478
Stockholders' equity............................     12,865                              10,245
                                                  ---------                          ---------
         Total liabilities and
           stockholders' equity.................  $ 153,101                          $  105,295
                                                  =========                          ==========
Net interest/dividend income....................               $ 4,114                             $ 2,786
                                                               =======                             =======
Interest rate spread (3)........................                             3.40%                            3.35%
                                                                             ====                             ====
Net interest margin (4).........................                             3.81%                            3.89%
                                                                             ====                             ====
Ratio of average interest-earning assets to
     average interest-bearing liabilities.......       1.19                                1.19
                                                       ====                                ====
</TABLE>

----------
1)    Includes nonaccrual loans.
2)    Includes federal funds sold.
3)    Interest rate spread  represents the difference  between the average yield
      on  interest-earning  assets  and the  average  cost  of  interest-bearing
      liabilities.
4)    Net   interest   margin  is  net  interest   income   divided  by  average
      interest-earning assets.


                                       16
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

COMPARISON OF THE THREE MONTH PERIODS ENDED SEPTEMBER 30, 2003 AND 2002

      GENERAL.  Net earnings for the three months ended  September 30, 2003, was
         $245,000 or $.17 per basic and $.16 per diluted  share  compared to net
         earnings of $179,000 or $.12 per basic and diluted share for 2002.

      INTEREST INCOME. Interest income was $2,295,000 for the three months ended
         September 30, 2003,  compared to $1,816,000  for the three months ended
         September  30,  2002.  Interest  income  earned on loans  increased  to
         $2,048,000  for  the  three  months  ended  September  30,  2003,  from
         $1,622,000  for the 2002  period,  due  primarily to an increase in the
         average loan  portfolio  balance to $138.6 million for the three months
         ended September 30, 2003 compared to $95.2 million for the three months
         ended  September  30, 2002.  This  increase was  partially  offset by a
         decrease  in the  average  yield  earned to 5.86% in 2003 from 6.76% in
         2002. Interest on securities increased to $242,000 for the three months
         ended  September  30,  2003,  from  $182,000 for the three months ended
         September  30,  2002,  due  primarily  to an  increase  in the  average
         investment  portfolio  balance,  partially  offset by a decrease in the
         average yield earned in 2003.

      INTEREST  EXPENSE.   Interest  expense  on  interest-bearing   liabilities
         increased to $801,000 for the three  months ended  September  30, 2003,
         from $757,000 for the three months ended  September 30, 2002, due to an
         increase in average interest-bearing  liabilities to $133.0 million for
         the three months ended  September 30, 2003,  from $90.5 million for the
         three  months ended  September  30,  2002.  The increase was  partially
         offset by a  decrease  in the  average  rate  paid on  interest-bearing
         liabilities  to 2.39% for the three  months ended  September  30, 2003,
         from 3.31% for the three months ended September 30, 2002.

      PROVISION FOR LOAN  LOSSES.  The  provision  for loan losses is charged to
         earnings to increase the total allowance to a level deemed  appropriate
         by  management  and is  based  upon  the  volume  and  type of  lending
         conducted  by  the   Company,   industry   standards,   the  amount  of
         nonperforming  loans and general economic  conditions,  particularly as
         they relate to the Company's market areas, and other factors related to
         the  collectibility of the Company's loan portfolio.  The provision for
         loan losses was $341,000 for the three month period ended September 30,
         2003,  compared to $97,000 for the same period in 2002. The increase in
         the  provision  for  loan  losses  resulted   primarily  from  specific
         allowances  with respect to two commercial  loans that were impaired as
         of September 30, 2003.  The allowance for loan losses was $1,881,000 at
         September 30, 2003, which management believes is adequate.

      NONINTEREST INCOME.  Noninterest  income was $174,000 for the three months
         ended  September  30,  2003,  compared to $153,000 for the 2002 period.
         Service charges on deposit  accounts  totaled $136,000 in 2003, up from
         $115,000 in 2002,  due to an increase in the average  number of deposit
         accounts.

      NONINTEREST  EXPENSE.  Noninterest  expense  increased to $926,000 for the
         three months ended  September  30,  2003,  from  $824,000 for the three
         months ended September 30, 2002. Salaries and employee benefits was the
         largest  noninterest  expense increasing from $398,000 during the three
         months ended  September 30, 2002, to $484,000 for the 2003 period.  The
         increase in total noninterest expenses relates to the overall growth of
         the Company.

      INCOME TAXES.  Income taxes for the three months ended September 30, 2003,
         were $156,000 (an effective rate of 38.9%)  compared to income taxes of
         $112,000 for the three months ended  September  30, 2002 (an  effective
         tax rate of 38.5%).


                                       17
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

COMPARISON OF THE NINE MONTH PERIODS ENDED SEPTEMBER 30, 2003 AND 2002

      GENERAL.  Net earnings for the nine months ended  September 30, 2003,  was
         $496,000 or $.34 per basic and $.33 per diluted  share  compared to net
         earnings of $323,000 or $.25 per basic and diluted share for 2002.

      INTEREST INCOME.  Interest income was $6,429,000 for the nine months ended
         September 30, 2003,  compared to  $4,819,000  for the nine months ended
         September  30,  2002.  Interest  income  earned on loans  increased  to
         $5,766,000  for  the  nine  months  ended   September  30,  2003,  from
         $4,326,000  for the nine months ended  September  30,  2002,  due to an
         increase in the average loan  portfolio  balance to $127.2  million for
         the nine months ended  September 30, 2003 compared to $84.4 million for
         the nine months ended  September 30, 2002.  This increase was partially
         offset by a decrease in the average  yield earned to 6.06% in 2003 from
         6.85% in 2002.  Interest on  securities  increased  to $647,000 for the
         nine months ended September 30, 2003, from $464,000 for the nine months
         ended  September 30, 2002,  due primarily to an increase in the average
         investment  portfolio  balance,  partially  offset by a decrease in the
         average yield earned in 2003.

      INTEREST  EXPENSE.   Interest  expense  on  interest-bearing   liabilities
         increased to $2,315,000  for the nine months ended  September 30, 2003,
         from $2,033,000 for the nine months ended September 30, 2002, due to an
         increase in average interest-bearing  liabilities to $121.4 million for
         the nine months ended  September  30, 2003,  from $80.6 million for the
         nine months ended September 30, 2002. The increase was partially offset
         by a decrease in the average rate paid on interest-bearing  liabilities
         to 2.55% for the nine months ended  September 30, 2003,  from 3.37% for
         the nine months ended September 30, 2002.

      PROVISION FOR LOAN  LOSSES.  The  provision  for loan losses is charged to
         earnings to increase the total allowance to a level deemed  appropriate
         by  management  and is  based  upon  the  volume  and  type of  lending
         conducted  by  the   Company,   industry   standards,   the  amount  of
         nonperforming  loans and general economic  conditions,  particularly as
         they relate to the Company's market areas, and other factors related to
         the  collectibility of the Company's loan portfolio.  The provision for
         loan losses was $919,000 for the nine month period ended  September 30,
         2003, compared to $342,000 for the same period in 2002. The increase in
         the  provision  for  loan  losses  resulted   primarily  from  specific
         allowances  with respect to two commercial  loans that were impaired as
         of September 30, 2003.  The allowance for loan losses was $1,881,000 at
         September 30, 2003, which management believes is adequate.

      NONINTEREST  INCOME.  Noninterest  income was $514,000 for the nine months
         ended  September  30,  2003,  compared to $423,000 for the 2002 period.
         Service charges on deposit  accounts  totaled $425,000 in 2003, up from
         $327,000 in 2002,  due to an increase in the average  number of deposit
         accounts.

      NONINTEREST EXPENSE.  Noninterest  expense increased to $2,906,000 for the
         nine months ended  September  30, 2003,  from  $2,345,000  for the nine
         months ended September 30, 2002. Salaries and employee benefits was the
         largest  noninterest expense increasing from $1,147,000 during the nine
         months ended September 30, 2002, to $1,464,000 for the 2003 period. The
         increase in total noninterest expenses relates to the overall growth of
         the Company.

      INCOME TAXES.  Income taxes for the nine months ended  September 30, 2003,
         were $307,000 (an effective rate of 38.2%)  compared to income taxes of
         $199,000 for the nine months ended September 30, 2002 (an effective tax
         rate of 38.1%).


                                       18
<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

ITEM 3.  CONTROLS AND PROCEDURES

a.    Evaluation of disclosure  controls and procedures.  The Company  maintains
      controls and procedures designed to ensure that information required to be
      disclosed  in the  reports  that the  Company  files or submits  under the
      Securities  Exchange Act of 1934 is recorded,  processed,  summarized  and
      reported  within the time periods  specified in the rules and forms of the
      Securities and Exchange  Commission.  Based upon their evaluation of those
      controls  and  procedures  performed  within 90 days of the filing date of
      this  report,  the Chief  Executive  and Chief  Financial  Officers of the
      Company  concluded that the Company's  disclosure  controls and procedures
      were adequate.

b.    Changes in internal controls.  The Company made no significant  changes in
      its internal controls or in other factors that could significantly  affect
      these controls  subsequent to the date of the evaluation of those controls
      by the Chief Executive and Chief Financial Officers.

                           PART II. OTHER INFORMATION

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

(a)   EXHIBITS.  The  following  exhibits  are  filed  with or  incorporated  by
      reference  into this  report.  The  exhibits  which are marked by a single
      asterisk (*) were previously filed as a part, and are hereby  incorporated
      by reference  from the Company's  Registration  Statement on Form SB-2, as
      effective  with the  Securities  and Exchange  Commission on September 30,
      1998, Registration No. 333-64815.  The exhibit marked by a double asterisk
      (**) was previously filed as a part of the June 30, 1999 Form 10-QSB filed
      with the  Securities  and  Exchange  Commission  on August 13,  1999.  The
      exhibit marked by a triple asterisk (***) was previously  filed as part of
      the Company's Registration Statement on Form S-8 filed with the Securities
      and Exchange  Commission on November 9, 1999. The exhibits  marked by four
      asterisks  (****) were previously  filed as part of the June 30, 2002 Form
      10-QSB filed with the  Securities  and Exchange  Commission  on August 14,
      2002. The exhibit marked by five asterisks (*****) was previously filed as
      part of the Proxy filed on April 10, 2003.

        EXHIBIT NO.           DESCRIPTION OF EXHIBIT
        -----------           ----------------------
        *       3.1           Articles of Incorporation of the Company
        ****    3.2           Amended Bylaws of the Company
        *       4.1           Specimen Common Stock Certificate
        ***     10.1          Stock Option Plan
        ****    10.2          Amendment to Stock Option Plan
        *       10.3          Servicing Agreement with M&I Data Services
        **      10.4          Employment Contract for Gilbert J. Pomar, III
        *****   10.5          Directors' Stock Purchase Plan
                31.1          Certification of Chief Executive  Officer required
                              by Rule 13a-14(a)/15d-14(a) under the Exchange Act
                31.2          Certification of Chief Financial  Officer required
                              by Rule 13a-14(a)/15d-14(a) under the Exchange Act
                32.1          Certification of Chief Executive  Officer pursuant
                              to 18 U.S.C.  Section 1350, as adopted pursuant to
                              Section 906 of Sarbanes-Oxley Act of 2002
                32.2          Certification of Chief Financial  Officer pursuant
                              to 18 U.S.C.  Section 1350, as adopted pursuant to
                              Section 906 of Sarbanes-Oxley Act of 2002

(b)   REPORTS ON FORM 8-K. During the three months ended September 30, 2003, the
      Company  filed a Form 8-K  dated  August  18,  2003,  reporting  the press
      release covering the results for the second quarter of 2003.


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<PAGE>

                    JACKSONVILLE BANCORP, INC. AND SUBSIDIARY

                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                              JACKSONVILLE BANCORP, INC.
                              (Registrant)



Date:  November 14, 2003      By: /s/ Gilbert J. Pomar, III
       -----------------          ----------------------------------------------
                                      Gilbert J. Pomar, III, President and
                                        Chief Executive Officer

Date:  November 14, 2003      By: /s/ Cheryl L. Whalen
       -----------------          ----------------------------------------------
                                      Cheryl L. Whalen, Executive Vice President
                                        and Chief Financial Officer


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