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                                   Exhibit 14
                                 Code of Ethics

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                                 CODE OF ETHICS
            FOR CHIEF EXECUTIVE OFFICER AND SENIOR FINANCIAL OFFICERS
                          OF JACKSONVILLE BANCORP, INC.

     It is the policy of Jacksonville Bancorp, Inc. that the Chairman of the
Board, Chief Executive Officer ("CEO"), Chief Financial Officer ("CFO"), and
Senior Vice President, of Jacksonville Bancorp, Inc. (hereinafter referred to as
the "Company") adhere to and advocate the following principles governing their
professional and ethical conduct in the fulfillment of their responsibilities:

     1.   Act with honesty and integrity, avoiding actual or apparent conflicts
between his or her personal, private interests and the interests of the Company,
including receiving improper personal benefits as a result of his or her
position

     2.   Perform responsibilities with a view to causing periodic reports and
other documents filed with the SEC to contain information which is accurate,
complete, fair and understandable.

     3.   Comply with laws of federal, state, and local governments applicable
to the Company, and the rules and regulations of private and public regulatory
agencies having jurisdiction over the Company.

     4.   Act in good faith, responsibly, with due care, and diligence, without
misrepresenting or omitting material facts or allowing independent judgment to
be compromised.

     5.   Respect the confidentiality of information acquired in the course of
the performance of his or her responsibilities except when authorized or
otherwise legally obligated to disclose. Do not use confidential information
acquired in the course of the performance of his or her responsibilities for
personal advantage.

     6.   Proactively promote ethical behavior among subordinates and peers.

     7.   Use corporate assets and resources employed or entrusted in a
responsible manner.

     8.   Do not use corporate information, corporate assets, corporate
opportunities or one's position with the Company for personal gain. Do not
compete directly or indirectly with the Company.

     9.   Comply in all respects with the Company's Code of Business Ethics and
Conduct, the Company's Policy on Insider Trading, Fraud reporting Policy and
this Code of Ethics.

     10.  Advance the Company's legitimate interests when the opportunity
arises.

     It is also the Policy of Jacksonville Bancorp, Inc. that the Chairman, CEO,
CFO and Senior Vice President of the Company acknowledge and certify to the
foregoing annually and file a copy of such certification with the Audit
Committee of the Board.

     The Audit Committee shall have the power to monitor, make determinations,
and recommend action to the Board with respect to violations of this Policy.

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                           JACKSONVILLE BANCORP, INC.

                                 CODE OF ETHICS
                           FOR DIRECTORS AND OFFICERS


I.      POLICY

        It is the Company's policy to conduct its business and operations
according to the standards and guidelines of ethical business conduct stated in
this Code of Ethics and all applicable laws and regulations.

II.     APPLICABILITY

        Each of the Company's directors and officers (collectively, "Insiders")
have a responsibility to deal ethically and honestly in all aspects of the
Company's business including the ethical handling of actual or apparent
conflicts of interest (as defined below) and to comply fully with all laws,
regulations and Company policies. Each Insider is expected to assume
responsibility for applying these standards of ethical conduct and for
acquainting himself/herself with the various laws, regulations and Company
policies applicable to his or her assigned duties. When in doubt, Insiders have
the affirmative responsibility to seek clarification from their supervisor, or,
if necessary, from legal counsel or members of the Board.

III.    ADMINISTRATION AND ENFORCEMENT

        BOARD OF DIRECTORS. The Board of Directors of the Company (the "Board")
is responsible for approval and oversight of the Company's Code of Ethics (this
"Code"). The Board has responsibility for: implementing and administrating this
Code, reviewing and assessing at least annually the effectiveness of this Code
and updating and amending this Code. The Chief Executive Officer of the Company
and the Compliance Officer are charged with the responsibility of reviewing
changes in laws applicable to the Company with the Company's General Counsel and
recommending changes in this Code to the Board for its consideration and
approval. Accordingly, the Board may adopt supplements to and revisions of this
Code from time to time.

        COMPLIANCE OFFICER. To assist the Board in administering this Code on a
regular basis and to provide guidance in situations where Insiders may have
questions concerning the right course of action to take, the Board shall appoint
a Compliance Officer to provide guidance on implementing this Code and to work
with the Officers of the Company to ensure compliance with this Code. It is the
responsibility of the Chief Executive Officer, with assistance from the
Compliance Officer, to ensure that this Code has been read and understood by all
Insiders. The Compliance Officer will meet as necessary with the Officers of the
Company and the Board to implement this Code, but will report to the Board no
less than every year barring extraordinary circumstances.

        CERTIFICATION STATEMENTS AND CANDOR. All Insiders are required to
certify at least once each year, by the last day of January (or such other date
as may be selected by the Board), that they have read and understand the current
version of this Code. Likewise all new Insiders are required to certify that
they have read and understand the current version of this Code within thirty
days of becoming an Insider. All executed certification statements will be
maintained in the personnel file of each Insider. No later than the meeting of
the Board of Directors held in conjunction with the annual meeting of
shareholders in each year the Compliance Officer shall report to the full Board
noting any Insiders who have not executed a current certification statement. All
information disclosed in the certification statements shall be treated on a
confidential basis, except to the extent reasonably necessary to protect the
Company's interests or comply with legal or regulatory requirements.

        THIS CODE OF ETHICS IS INTENDED TO CREATE AN OPPORTUNITY FOR INSIDERS TO
EXPRESS CONCERNS RELATING TO CORPORATE ACCOUNTABILITY, ALLEGED VIOLATIONS OF
COMPANY POLICY, FEDERAL AND STATE STATUTES AND ALLEGATIONS OF CORPORATE
MISDEEDS. THERE WILL BE NO DISCRIMINATION OR RETALIATION AGAINST ANY INSIDER WHO
REPORTS SUCH VIOLATIONS OR ALLEGATIONS IN GOOD FAITH.

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        WAIVERS. This Code is intended to apply equally to all Insiders.
Accordingly, any waiver of the standards set forth in this Code by executive
officers or directors may be made only by the Board and must be disclosed to
shareholders within 2 business days by either filing an SEC Form 8-K or the
posting notice on the Company's website continuously for 12 months (provided the
Company has disclosed to the SEC in its most recent annual report that
amendments to and waivers of the Code will be disclosed on the Company's
website).

IV.     ACCURACY IN REPORTING

        CORPORATE RECORDS. Each Insider has a responsibility to ensure that all
Company documents and reports for which the Insider is responsible are prepared
and maintained properly and are free of any false, misleading, incomplete or
otherwise improper information. Insiders are prohibited from defrauding,
misleading, manipulating or coercing any employees or directors of the Company
or any advisors to the Company, including outside counsel or auditors.

        FINANCIAL STATEMENTS. Whenever an Insider is responsible for the
preparation or review of the Company's financial statements, the Insider shall
ensure that the financial statements are prepared in accordance with generally
accepted accounting principles as currently in force.

        ERRORS OR MISLEADING STATEMENTS. If an Insider ever becomes aware of an
error or potential misstatement in any company documents including financial
statements or other documents filed with the SEC, the Insider must contact
immediately the Insider's supervisor and the Compliance Officer and report the
error or potential misstatement.

        AUDITS. All Insiders shall cooperate fully with any audits of the
Company's financial statements or other corporate documents whether conducted
internally or by a third party.

V.      CONFLICTS OF INTEREST

        A.      IN GENERAL.

        For purposes of this Code, a "conflict of interest" shall be deemed to
exist where any Insider or an affiliate of an Insider has any personal or
financial interest, direct or indirect, in any Company action, failure to act,
decision not to act or method of action, in connection with any transaction
relating to the Company's internal or external operations. As used herein, the
term "affiliate of an Insider" means as to a specific Insider, his or her
Immediate Family Members and any company, partnership, limited liability
company, trust or other entity that is directly or indirectly controlled by that
Insider or by any Immediate Family Member of that Insider. For purposes of the
previous sentence "Immediate Family Member" includes the spouse (or life
partner) and children of an Insider and any relative (by blood or marriage) of
that Insider or spouse (or life partner) residing in the same household as such
Insider.

        Examples of conflicts of interest that would affect Insiders and the
Company's internal or external operations or conduct may include, but are not
limited to:

        1.      loans which will directly or indirectly benefit directors or
                officers or members of their immediate family or their related
                interests;

        2.      loans to competitors of directors or officers or their related
                interests;

        3.      the restructuring, modification or renewal of loans where such
                restructuring, modification or renewal will directly or
                indirectly benefit directors or officers or their related
                interests;

        4.      the determination of the Company to enter or not enter into a
                contract or other business arrangement for the delivery of goods
                or the performance of services with a director or officer or
                their related interests and;

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        5.      the availability of a business opportunity for the Company where
                an Insider or their related interest might compete for or
                otherwise seek this same opportunity.

        LOANS MADE TO DIRECTORS AND OFFICERS IN ACCORDANCE WITH COMPANY POLICY
AND CONSISTENT WITH APPLICABLE REGULATORY REQUIREMENTS WILL NOT IN AND OF ITSELF
RESULT IN A CONFLICT OF INTEREST.

        APPEARANCE OF CONFLICT OF INTEREST. The term "conflict of interest"
shall also include an appearance of a conflict of interest. An appearance of a
conflict of interest shall arise where the facts and circumstances do not give
rise to a full conflict of interest, but are so similar in nature that they may
create doubt as to the impartiality or loyalty of an Insider in connection with
the transaction where the appearance arises. Examples of appearances of a
conflict of interest include, but are not limited to:

        1.      a loan by the Company to the brother-in-law of an Insider may
                not provide a direct or indirect benefit to that Insider or
                his/her immediate family and therefore an actual conflict of
                interest does not exist. The existence of the relationship
                itself does, however, create the appearance of such a conflict
                and thus would require the director or officer to recuse
                him/herself from any decision-making process relating to the
                transaction.

        2.      an Insider who assumes responsibility for analyzing and
                recommending approval of a loan to a director, a major
                shareholder or an employee of another financial institution with
                which the Insider has a personal loan or an ongoing financial
                relationship may not present a direct conflict of interest. The
                existence of the relationship itself does, however, create the
                appearance of a conflict and thus requires that the Insider
                recuse himself/herself from any decision-making process relating
                to the loan and abstain from any further action thereon. Also,
                the Insider should make full disclosure of the appearance of a
                conflict prior to the Company's approval of such a loan.

        B.      RECUSAL AND RECORDATION

        DISCLOSURE AND RECUSAL. Whenever an Insider has a conflict of interest
in connection with an internal or external operation or other conduct of the
Company, the Insider shall make a full disclosure of the nature of the conflict
of interest, recuse himself/herself from the decision-making process and abstain
from any further action thereon.

        RECORDATION. Whenever an Insider has declared a conflict of interest in
connection with a transaction, such declaration and the Insider's recusal and
abstention from the decision-making process shall be reported to the Compliance
Officer. The Compliance Officer shall report the conflict of interest to the
Board and shall ensure that the conflict of interest is recorded in the Board
meeting minutes.

        C.      CORPORATE OPPORTUNITIES

        GENERAL PROHIBITION. Insiders and affiliate of Insiders must not compete
with the Company, profit or otherwise take advantage from inside information or
take business opportunities which are within the line of business conducted by
the Company or within a line of business that the Company might reasonably be
expected to enter in the future. NOTWITHSTANDING THE FOREGOING, THIS GENERAL
PROHIBITION SHALL NOT BE APPLICABLE TO BUSINESS OPPORTUNITIES OUTSIDE THE
COMPANY'S IMMEDIATE OR CONTIGUOUS MARKET AREA OR BUSINESS OPPORTUNITIES NOT SET
FORTH IN THE COMPANY'S MOST RECENT BUSINESS PLAN. IN EVALUATING WHETHER A
BUSINESS OPPORTUNITY REPRESENTS A CORPORATE OPPORTUNITY OF THE COMPANY, A
DIRECTOR OR OFFICER MAY RELY ON THE COMPANY'S MOST CURRENT BUSINESS PLAN.

        DISCLOSURE. In the event that an Insider or an affiliate of an Insider
is presented with or otherwise becomes aware of a corporate opportunity which is
within the line of business conducted by the Company or a line of business that
the Company might be expected to enter in the future, the director or officer
shall fully disclose both the details of the opportunity and his/her interest in
the opportunity to the Insider's supervisor and the Compliance Officer.
Thereafter the Insider shall abstain from discussion and voting on any approval
or disapproval thereof.

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Where it is unclear whether a business opportunity would present a corporate
opportunity to the Company based upon a review of the business plan disclosure
should be made to the entire board of directors.

        RECORDATION. A decision by the Board approving or disapproving an
Insider's dealings with a corporate opportunity presented to it by an Insider
shall be recorded in the minutes of the Board and shall reflect the nature of
the opportunity and all members who take action or abstain from taking action on
its consideration.

        FURTHER ACTION. If, after full disclosure, the Board elects not to take
a corporate opportunity presented to it, to the extent it does not otherwise
present a conflict of interest with his/her position, or the Board does not rule
otherwise, the Insider who presented the matter to the Board is free to pursue
the opportunity.

        CONSTRUCTIVE TRUST. In the event an Insider usurps a corporate
opportunity without making full disclosure and receiving approval by the Board
pursuant to the requirements of this Code, the profits or proceeds arising from
such opportunity shall be subject to a constructive trust of which the Company
shall be the beneficiary. Thereafter, upon demand by the Company, the proceeds
or profits, if any, shall be distributed to the Company.

        D.      INSIDER TRANSACTIONS

        DISCLOSURE. Insiders shall disclose all conflicts of interest they may
have with regard to any contract or other business arrangement to be entered
into by the Company. Contracts or other business arrangements between the
Company and an Insider or between the Company and an affiliate of an Insider,
shall be presented by the Compliance Officer to the Board for approval only
after full disclosure of the conflict of interest by the Insider who shall
thereafter recuse himself/herself from the decision making process and abstain
from voting on the matter.

        RECORDATION. A decision by the Board approving or disapproving a
contract or other business arrangement with an Insider or affiliate of an
Insider or where an Insider otherwise has a financial interest, shall be
recorded in the minutes of the Board which shall reflect the nature of the
contract or other arrangement and all members who take action or abstain from
taking action on its consideration.

        TERMS. Any contract or business arrangement entered into by the Company
with an Insider or affiliate of an Insider shall be on such terms and conditions
and at such costs as would be reasonable under the facts and circumstances if
entered into with an unrelated third party.

        COMPLIANCE WITH LAW. All contracts or other business arrangements with
any Insider or affiliates of Insiders in which the Insiders have a personal or
financial interest, shall comply with any applicable statutes, rules or
regulation.

        PAYMENT OF FEES. In paying any management or other fees to Insiders, the
following criteria should be taken into consideration.

        1.      Management fees and other fees paid by the Company shall have a
                direct relationship to and be based solely upon the fair market
                value of the goods received or services rendered.

        2.      Fees shall be paid only for goods which meet the legitimate
                needs of the Company and which are actually rendered.

        3.      Fees shall take into consideration the qualifications of the
                individual(s) providing services.

        4.      Reasonable fees may be based upon cost, cost plus a reasonable
                profit or current fair market value of the services rendered and
                may take reasonable overhead costs into consideration.

        5.      No prepayment of fees for services shall be made.

        COMPETITIVE BIDS. When a contract or other business arrangement for the
provision of services or delivery of goods to the Company is considered, the
Company should make every reasonable attempt to obtain competitive

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bids for such contract or arrangement. In the event an Insider has a personal or
business interest in the contract or other arrangement, he or she shall recuse
himself from any discussion of the competitive bid process and shall not have
access to any documents relating to the decision-making process or the bids
themselves.

        DOCUMENTATION FOR COMPETITIVE BIDS. All performance of any contract or
other business arrangement shall be documented and the documents shall be
retained by the Company for a reasonable period of time. Such documentation
shall include but not be limited to: the bids; evidence of payment; documents
reflecting the actual delivery of goods or performance of services contracted
for; and documents evidencing the review of the performance of the contract or
other business arrangements by the appropriate officer(s) or the Board.

        E.      ACCEPTANCE OF GIFTS AND OTHER GRATUITIES

        GENERAL. Insiders are prohibited from (a) soliciting for themselves or a
third party (other than the Company) anything of value from anyone in return for
any business, service or confidential information of the Company; or (b)
accepting anything of value (other than salary, wages, fees or other usual
compensation) from anyone in connection with the business of the Company, either
prior to or after a transaction.

        EXCEPTIONS. Exceptions to the general prohibition regarding acceptance
of things of value in connection with the Company's business may include the
acceptance of:

        1.      gifts, gratuities, amenities or favors based on obvious family
                or personal relationships (such as those with the parents,
                children or spouse of a Company official) where the
                circumstances make it clear that it is those relationships
                rather than the business of the Company, which are the
                motivating factors;

        2.      meals, refreshments entertainment, accommodations or travel
                arrangements, all of reasonable value, during the course of a
                meeting or other occasion, the purpose of which is to hold bona
                fide business discussions or to foster better business
                relations, provided that the expense would be paid for by the
                Company as a reasonable business expense, if not paid for by
                another party;

        3.      loans from other banks or financial institutions on customary
                terms to finance proper and usual activities of the directors or
                officers or employees, except where prohibited by law;

        4.      advertising or promotional material of reasonable value, such as
                pens, pencils, note pads, key chains, calendars and similar
                items;

        5.      discounts or rebates on merchandise or services that do not
                exceed those available to other customers;

        6.      gifts of a value (not to exceed $100.00) that are related to
                commonly recognized events or occasions, such as a promotion,
                new job, wedding, retirement, Christmas or bat or bar mitzvah;
                or

        7.      civic, charitable, educational, religious organizational awards
                for recognition service and accomplishment.

        NOTIFICATION AND APPROVAL. In the event an Insider is offered anything
of value from anyone in return for any business, service or confidential
information of the Company and the item of value is not clearly subject to the
exceptions described above, the Insider should report it immediately to his or
her supervisor or to the Compliance Officer.

VI.     TRADE SECRETS

        Each Insider hereby acknowledges that the term "confidential
information, trade secrets, and property" and all variations of that term used
herein, includes without limitation, current and prospective client and customer
lists, information with respect to client and customer accounts, requirements
and practices, sales methods and ideas, employee lists and employment data,
documents, books, records, data, materials, supplies, contract forms and other

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information relating to the Company, its employees, and its products, services,
and operations, regardless of whether similar to the foregoing, and regardless
of whether conceived by the Insider.

        UNAUTHORIZED USE PROHIBITED. Each Insider agrees that he/she shall not,
at any time (i) during the term of his/her tenure or employment or (ii) after
the termination thereof, disclose, use, or threaten to use, other than in the
performance of their duties for the Company, any confidential information, trade
secrets, or property of the Company, regardless of whether acquired or conceived
by the Insider. Insider hereby acknowledges that such confidential information,
trade secrets, and property are secret, confidential, and unique, that they
constitute the exclusive property of the Company, that such confidential
information, trade secrets and property will be made known to the Insider in
confidence in connection with their professional duties, and that any use of
such confidential information, trade secrets or property by him/her other than
for the sole benefit of the Company would be wrongful and would cause
irreparable harm.

        SOLICITATION OF CLIENTS. Without limiting the generality of the
preceding two paragraphs, but rather to implement their provisions, each Insider
agrees that, during the 12-month period commencing with the date of termination
of the Insider's tenure and/or employment, he/she will not, without the prior
express written consent of the Company in each instance, directly or indirectly,
for the Insider alone or for any affiliate of an Insider, call upon, solicit, or
cause to be solicited any person or organization that was a client of the
Company within the 12-month period ending on the effective date of his/her
termination of association or employment, if the business in which the Insider
is engaged in any way involves products or services directly competitive with
those sold, supplied or performed by the Company at the time of termination of
the Insider's association with the Company.

        ASSOCIATION WITH OTHERS POSSESSING CONFIDENTIAL INFORMATION. Each
Insider further agrees that, during the 12-month period commencing with the date
of termination of their employment/association with the Company, they will not,
without the prior express written consent of the Company, directly or
indirectly, employ, offer to employ, be employed with, or otherwise participate
in business with any person who is or had been a director, officer, or employee
of, or consultant to, the Company in any capacity at any time within the
12-month period ending on the date that Insider's employment or association with
the Company was terminated, if such other person possesses knowledge of the
confidential information of the Company that may be used in connection with such
business or employment.

        RETURN OF CONFIDENTIAL DOCUMENTS. Upon termination of the Insider's
association or employment with the Company, he/she agrees to deliver promptly to
the Company all books, records, samples, business plans, manuals, blank forms,
documents, letters, notes, notebooks, reports, data and all copies of the
foregoing and all other confidential information, trade secrets and property of
the Company, including, without limitation, all documents that, in whole or in
part, contain any trade secrets or confidential information of the Company that
are in his/her possession or under his/her control, and the Insider shall not
retain any such materials or copies thereof without the prior express written
consent of the Company.

VII.    REPORTING ILLEGAL OR UNETHICAL BEHAVIOR

        The Company strives to maintain sound and ethical business practices and
holds all Insiders to high ethical standards. In order to maintain these
standards, Insiders have an affirmative obligation to report to the Insider's
supervisor, if appropriate, or the Compliance Officer a violation of any laws,
regulations or provisions of this Code by any Insider. If an Insider is ever
uncertain of the best course of action in a specific situation, Insiders should
seek immediately clarification and help from their supervisor or the Compliance
Officer.

        The Company will not tolerate any attempt by anyone to retaliate against
an Insider who, while acting in good faith pursuant to this Code, reports
illegal or unethical behavior by any employee, director, officer or third party
advisor to the Company. Thus, no Insider may be discharged, demoted, suspended,
or in any manner threatened, harassed or discriminated against for providing
information about violations of the law or this Code, or assisting in the
investigation of a violation of the law or this Code, or participating in
bringing or bringing a lawsuit.

VIII.   BREACHES OF ETHICAL BEHAVIOR

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        If any Insider breaches any of the provisions of this Code, such breach
shall be reported to the Insider's supervisor, the Compliance Officer, the chief
executive officer and the Board. The Compliance Officer and the Board shall
review, or designate a committee to review, the facts and circumstances of the
breach of this Code and shall determine the appropriate remedy including
immediate termination for cause of the Insider who breached this Code.