Evansville, IN, October 24, 2006 - American Community Bancorp, Inc. (the "Company") (OTCBB: ACBP), the holding company for Bank of Evansville, today reported consolidated net income for the third quarter of 2006 of $527,198, an increase of 10.6 percent over the same quarter in 2005. Pre tax income for the third quarter of 2006 was $885,498, an increase of $89,340 or 11.2 percent over the same period in 2005. Diluted earnings per share, adjusted for the 5 percent stock dividend declared in April 2006, were $0.29 and $0.27 for the third quarter of 2006 and 2005, respectively.

For the first nine months of 2006, consolidated net income was $1,335,233, compared to $1,321,218 for the first nine months of 2005. Income tax expense for the nine months ended September 30, 2006, was $914,100, compared to $482,900 in the same period of the prior year. Income tax expense for the first nine months of 2005 was reduced by approximately $240,000 due to the carryover of tax losses from start up operations which were fully utilized in 2005 due to the Company's profitable growth. Pre tax income for the first nine months of 2006 increased $445,215 or 24.7 percent compared to the first nine months of 2005. Diluted earnings per share, adjusted for the 5 percent stock dividend declared in April 2006, for the first nine months of 2006 were $0.73 compared to $0.75 for the same period in 2005. Income tax expense for the first nine months of 2006 was $0.50 per diluted share compared to $0.27 for the first nine months of 2005.

Total assets at September 30, 2006, were $233,700,733, compared to $206,969,036 at the same date a year ago, an increase of $26,731,697 or 12.9 percent. Loans grew $34,386,824 or 20.6 percent and reached $201,422,607 at September 30, 2006, compared to $167,035,783 reported at September 30, 2005. Total deposits at September 30, 2006, were $206,279,222, reflecting an increase of $25,113,654, or 13.9 percent over the corresponding total a year ago. The Company remains "well capitalized" with a Tier I capital ratio of 10.8 percent at September 30, 2006.

Michael S. Sutton, President and Chief Executive Officer, commented, "Our results reflect solid growth in earning assets, increased non interest income, and disciplined control of expenses. During the quarter we surpassed the $200 million mark in our loan portfolio. This is a significant milestone in just over five years of operation. We are pleased with the continued acceptance of our business model."

Total revenues, consisting of net interest income and non interest income, were $2,249,280 for the third quarter of 2006, $218,249 or 10.7 percent higher than the same period last year. Net interest income was $1,850,586 for the third quarter of 2006, increasing $158,256 or 9.4 percent over the same quarter of 2005 primarily due to strong loan growth. Non interest income of $398,694 for the third quarter of 2006 grew $59,993 or 17.7 percent compared to the same period in 2005. Non interest expense for the third quarter of 2006 was $1,323,782, compared to $1,183,273 for the third quarter of 2005.

Total revenues for the first nine months of 2006 were $6,533,689, increasing $769,475 or 13.3 percent, compared to the same period in the prior year. Net interest income for the first nine months of 2006 was $5,464,006, $644,415 or 13.4 percent higher than the $4,819,591 reported for the first nine months of 2005. The growth of net interest income is attributable to the growth of the loan portfolio. Non interest income for the first nine months of 2006 increased $125,060 or 13.2 percent. Non interest expense for the first nine months of 2006 was $4,011,938, compared to $3,523,396 for the same period in 2005.

Mr. Sutton continued, "While income taxes impacted our year to date results, we are pleased with the 24.7 percent increase in our year to date pre tax income over the prior year. Asset quality continues to be our highest priority. At September 30, 2006, there were no loans on non accrual and no loans 30 days past due. Our allowance for loan losses stood at 1.46 percent - well above our peers."

Mr. Sutton concluded, "As announced in September, the Bank will open a third location on the North side of Evansville in the Grant Hills Commercial Park during 2007. We are excited about the addition to our Evansville footprint as it will provide a convenient location to our ever growing North side client base and facilitate growth in our core deposits."

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 within the meaning of 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.