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September 23, 2004
For Immediate Release

For: American Community Bancorp, Inc.
Bank of Evansville		 Contact: Thomas L. Austerman
Stephen C. Byelick, Jr.
Michael S. Sutton
Phone: (812) 962-2265


Bank of Evansville, N.A., Completes Formation of Holding Company


Evansville, Indiana, September 23, 2004 - American Community Bancorp, Inc. (OTCBB: ACBP)


American Community Bancorp, Inc., announced today that effective as of September 14, 2004, Bank of Evansville, N.A., a national bank organized under the laws of the United States, merged with and into Interim Bank of Evansville, an Indiana interim bank and a wholly-owned subsidiary of American Community Bancorp, Inc., an Indiana corporation and bank holding company. Interim Bank of Evansville, whose name was changed to Bank of Evansville as part of the merger, was the surviving company in the merger.

Effective as of the time of the merger, each of the outstanding shares of common stock of Bank of Evansville, N.A., was converted into the right to receive one (1) share of the common stock of American Community Bancorp, Inc. As a result of the merger, the Bank will continue to operate as Bank of Evansville, a state-chartered banking institution and a wholly-owned subsidiary of American Community Bancorp, Inc., and will continue to provide banking services in the Evansville, Indiana community.

Shares of common stock that previously traded as Bank of Evansville (BEVN) will now be traded under the holding company name of American Community Bancorp, Inc. Shares of American Community Bancorp, Inc. are currently being traded on the Over-The-Counter market (OTCBB) under the symbol "ACBP".

Thomas L. Austerman, President and Chief Executive Officer of American Community Bancorp, Inc. said, "We are pleased to have completed the formation of the holding company and secured a state banking charter. The flexibility of the holding company will allow us to be more competitive in a rapidly changing business environment." Austerman went on to say, "The reduced regulatory cost, along with the expanded business powers granted to a state-chartered bank, should allow us to operate more efficiently as a full-service financial institution and therefore benefit our shareholders."

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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.