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Investor Relations AMERICAN COMMUNITY BANCORP, INC. For Immediate Release
May 6, 2005
Contact:
Michael S. Sutton
Stephen C. Byelick, Jr. Phone: (812) 962-2265 American Community Bancorp, Inc. Announces Issuance of $5 Million of Trust Preferred Securities Evansville, IN, May 6, 2005 - American Community Bancorp, Inc. (OTCBB: ACBP) (the "Company"), the holding company for Bank of Evansville, announced today its newly established Delaware trust subsidiary, ACB Capital Trust I, completed the private sale of $5,000,000 of Floating Rate Preferred Securities. These securities have a 30-year maturity and are redeemable by the Company after five years without penalty. The securities pay a floating interest rate based on the three month LIBOR plus a specified percentage, which adjusts quarterly and is currently approximately 5.37 percent. Michael S. Sutton, President and CEO said, "The proceeds of the securities will be used to provide additional Tier I regulatory capital to support the growth of the Company's bank subsidiary, Bank of Evansville (the "Bank"). The Bank's success in growing loans and assets has created the need to expand the regulatory capital base. Trust preferred securities are a capital instrument that allows us to expand our capital without diluting existing shareholders." American Community Bancorp, Inc., through its wholly owned subsidiary, Bank of Evansville, provides a full range of commercial and consumer banking services in the Evansville, Indiana, area. This news release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Act of 1995. Such statements are based on management's current expectations and are subject to a number of risk factors and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements. A partial list of these risk factors and uncertainties is contained in the Bank's Registration Statement on Form SB2 and the Bank's Annual Report on Form 10K-SB for the year ended December 31, 2003, which are on file with the Office of the Comptroller of the Currency. # # #
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