Jacksonville Bancorp, Inc. Completes Acquisition of Atlantic BancGroup, Inc. and Oceanside Bank

Jacksonville Bancorp, Inc. JAXB announced that it has completed its acquisition of Atlantic BancGroup, Inc. and its wholly-owned subsidiary, Oceanside Bank. Oceanside Bank has been merged into The Jacksonville Bank but will continue to operate as Oceanside Bank until December 6th. Under the previously announced terms of the merger, ATBC shareholders are receiving 0.2 shares of JAXB common stock and $0.67 in cash for each share of ATBC common stock.