American Community Bancorp, Inc. (1303476) SEC Filing 8-K Material Event for the period ending Wednesday, January 7, 2004

American Community Bancorp, Inc.

CIK: 1303476


                                                                    Exhibit 99.1

                        AMERICAN COMMUNITY BANCORP, INC.

                              FOR IMMEDIATE RELEASE

January 7, 2005                                 Contact:   Michael S. Sutton
                                                Phone:     (812) 962-2265
                                                Fax:       (812) 962-1383

                       RETIREMENT OF THOMAS L. AUSTERMAN

EVANSVILLE, IN - The Board of Directors of American Community Bancorp, Inc.
(OTCBB: ACBP) ("the Company") announces the planned retirement of Thomas L.
Austerman from the Company as President and Chief Executive Officer (CEO) and
Bank of Evansville ("the Bank") as CEO, effective February 4, 2005.

The Board of Directors elected Michael S. Sutton to succeed Austerman as
President and Chief Executive Officer (CEO) of American Community Bancorp, Inc.
Sutton was also elected CEO of its wholly-owned subsidiary, Bank of Evansville.

Austerman was an initial organizer and the founding President and CEO of the
Bank. Austerman said, "My decision to retire at this time concludes a plan which
has been implemented over the past fifteen months. Mike and I have worked hard
to assemble a strong management team that is capable of achieving the long-term
goals and objectives of the Bank and optimize shareholder value." He went on to
say, "The people we have put in place at the Bank makes it possible for me to do
some other things I have long wanted to do while I am still young enough to
enjoy them." He concluded by saying, "Being an organizer of the Bank of
Evansville has allowed me the opportunity to accomplish some financial
achievements of note and consequence. I will always be proud of our people's

Sutton stated, "We are very pleased for Tom and wish him the very best. His
vision and leadership were instrumental in what our Company is today. Tom has
been a credit to the banking profession throughout his thirty-four year career.
I feel very fortunate to have worked with him over the past few years." Sutton
continued, "I look forward to assuming the additional responsibilities as
President and CEO of the Company. I am very appreciative of the confidence
placed in me by our Board of Directors as we continue to build on what is a very
strong foundation for our Company. Bank of Evansville has put together a
talented team of experienced banking professionals, and it is an honor to be
associated with this group."

                                 4424 VOGEL ROAD
                            EVANSVILLE, INDIANA 47715
                    PHONE: (812) 962-2265 FAX: (812) 962-1383

                                                                    Exhibit 99.1

Sutton has been a part of the Bank's senior management team from its inception,
joining the organization during its organizational phase in 2000. Austerman
said, "Mike has played a vital role in the Bank's success from the very
beginning. His election as CEO is a direct result of his significant efforts
over the past four years."

Sutton served as Executive Vice President and Chief Lending Officer of the Bank
for its first three years. He was elected President and Chief Operating Officer
of the Bank in August 2004. He was also elected Executive Vice President of the
Company following its formation in September 2004. Sutton earned his Bachelor of
Science degree at Indiana University and is a Certified Public Accountant. His
professional background includes three years with Geo. S. Olive & Co. CPA's in
their banking division. He has held corporate lending positions with Citizens
Bank, as well as management positions with United Fidelity Bank and Integra
Bank. His experience consists of 22 years in the Evansville banking community.

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


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Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

American Community Bancorp, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2005 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors


CIK: 1303476
Form Type: 8-K Corporate News
Accession Number: 0000950137-05-000342
Submitted to the SEC: Thu Jan 13 2005 10:09:16 AM EST
Accepted by the SEC: Thu Jan 13 2005
Period: Wednesday, January 7, 2004
Industry: Savings Institution Federally Chartered
  1. Event for Officers
  2. Financial Exhibit

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