Jacksonville Bancorp, Inc. is the holding company for Jacksonville Bank, a state chartered commercial bank in Florida.

According to the Complaint, this action stems from a Proposed Transaction announced on January 18, 2018, pursuant to which Jacksonville Bancorp, Inc. will be acquired by CNB Bank Shares, Inc. ("CNB") and its wholly-owned subsidiary, CNB Acquisition, Inc. ("Merger Sub").

On March 6, 2018, Defendants filed a preliminary Proxy Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction.

The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

This case was voluntarily dismissed on July 30, 2018.