<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2002-07-11</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000857501</issuerCik>
        <issuerName>JACOBS FINANCIAL GROUP, INC.</issuerName>
        <issuerTradingSymbol>JFGI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001363909</rptOwnerCik>
            <rptOwnerName>FERGUSON FREDERICK EARNEST</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>300 SUMMERS STREET, STE 970</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CHARLESTON</rptOwnerCity>
            <rptOwnerState>WV</rptOwnerState>
            <rptOwnerZipCode>25301</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>750000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>by The Party Store, Inc.</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <remarks>Includes 750,000 shares held in the name of The Party Store, Inc., of which Mr. Ferguson is President and majority shareholder.  Mr. Ferguson has the power to vote and to direct the voting and the power to dispose and direct the disposition of the shares beneficially owned by The Party Store, Inc.</remarks>

    <ownerSignature>
        <signatureName>/s/Frederick E. Ferguson</signatureName>
        <signatureDate>2006-05-26</signatureDate>
    </ownerSignature>
</ownershipDocument>
