Improving credit quality and continued low funding costs lifted Jacksonville Bancorp Inc.'s fourth-quarter profit 5% from the same period in 2010, to $774,000.

For the full year, the Jacksonville, Ill., thrift company said that net income rose 59% from 2010, to nearly $3.3 million.

In a news release Tuesday, the $307 million-asset Jacksonville said that low funding costs, aided by continued low interest rates, helped boost net interest income in both the fourth quarter and the full year. The full-year and fourth-quarter bottom lines were also helped by decreases in its provision for loan losses.

Jacksonville Bancorp is the parent of Jacksonville Savings Bank, which has six branches in Illinois. It converted from a mutual holding company to a 100% stock-owned company in 2010.

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