American Community Bancshares 8-K Results of Operations and Financial Condition

Exhibit 99.1

PRESS RELEASE

FOR IMMEDIATE RELEASE

For Further Information Contact

American Community Bancshares, Inc.

Mr. Randy P. Helton, President and CEO

Phone: 704-225-8444

AMERICAN COMMUNITY BANCSHARES, INC. ANNOUNCES

RESULTS FOR THE QUARTER ENDED MARCH 31, 2007

April 25, 2007. Charlotte, North Carolina: American Community Bancshares, Inc. (NASDAQ Global Market: ACBA), the holding company for American Community Bank, announced unaudited earnings remained essentially flat for the three months ended March 31, 2007 as compared to unaudited earnings for the same period of 2006. Unaudited earnings as of March 31, 2007 were $1,287,000, a decrease of $20,000 or 1.5% from unaudited earnings at March 31, 2006. Unaudited net interest income for the quarter increased to $4.8 million from $4.5 million for the same period in 2006, an increase of 5.9%. The Company’s net interest margin experienced a slight compression to 4.38% for the quarter ended March 31, 2007 as compared to 4.44% for the quarter ended March 31, 2006. The Company reported unaudited non-interest income of $807,000 for the quarter ended March 31, 2007, a decrease of approximately 2.4% over the comparable period in 2006. In addition, operating expenses increased $378,000 or 12.5% from $3.0 million for the quarter ended March 31, 2006 to $3.4 million for the quarter ended March 31, 2007 primarily as a result of an increase in professional fees, compensation expense associated with an increase in employee headcount, and the $76,000 other than temporary impairment write-down of the carrying value of a non-marketable equity investment.

Total assets as of March 31, 2007 were $489.0 million, compared to $459.8 million at March 31, 2006, an increase of $29.2 million or 6.4%. The Company also experienced similar gains in loans and deposits. Total loans were $369.9 million, an increase of $23.9 million or 6.9%, over the $346.0 million reported at March 31, 2006. Total deposits were $396.0 million, an increase of $29.4 million or 8.0% over first quarter 2006 deposits of $366.6 million.

The allowance for loan losses increased to 1.46% of total loans at March 31, 2007 compared to 1.29% at March 31, 2006 primarily as a result of the increase in non-performing assets

associated with the previously disclosed lease portfolio issues. Non-performing loans totaled $1,527,000 or 0.41% of loans at March 31, 2007 compared to $1,079,000 or 0.31% of loans at March 31, 2006. Non-performing assets (which includes non-performing loans, foreclosed real estate and repossessed assets) totaled $1,579,000 at March 31, 2007 and represented 0.32% of total assets compared to $1,234,000 or 0.27% of total assets at March 31, 2006, a $345,000 or a 28.0% increase. However, when compared to December 31, 2006, non-performing loans at March 31, 2007 decreased $282,000 or 15.6% and non-performing assets decreased $431,000 or 21.4%.

American Community Bancshares, headquartered in Charlotte, NC is the holding company for American Community Bank. American Community Bank is a full service community bank, headquartered in Monroe, NC with nine North Carolina offices located in the fast growing Union and Mecklenburg counties and four South Carolina offices located in York and Cherokee counties. The Bank provides a wide assortment of traditional banking and financial services offered with a high level of personal attention. American Community Bancshares website iswww.americancommunitybank.com. American Community Bancshares stock is traded on the NASDAQ Global market under the symbol “ACBA”. For more information contact- Stephanie Helms, Shareholder Relations or Dan Ellis, CFO at (704) 225- 8444.

American Community Bancshares, Inc.

(Amounts in thousands except share and per share data)

(Unaudited)

Consolidated Balance Sheet

	March 31, 2007			December 31, 2006 (a)			September 30, 2006			June 30, 2006			March 31, 2006
Assets
Cash and due from banks	$	17,977		$	19,950		$	15,268		$	16,057		$	13,646
Interest-earning deposits with banks		14,381			17,295			11,357			326			10,087
Investment securities		59,946			65,192			66,239			65,309			62,842
Loans		375,395			370,431			368,020			357,134			350,516
Allowance for loan losses		(5,472	)		(5,628	)		(5,987	)		(5,041	)		(4,528	)
Net loans		369,923			364,803			362,033			352,093			345,988
Accrued interest receivable		2,751			2,938			2,811			2,576			2,527
Bank premises and equipment		9,046			9,105			9,286			9,328			9,467
Foreclosed real estate		25			195			283			258			91
Non-marketable equity securities at cost		1,819			1,879			2,187			2,062			2,062
Goodwill		9,838			9,838			9,838			9,838			9,838
Other assets		3,302			3,463			4,112			2,925			3,294
Total assets	$	489,008		$	494,658		$	483,414		$	460,772		$	459,842
Liabilities and stockholders’ equity
Deposits
Non-interest bearing	$	62,414		$	61,735		$	58,806		$	56,125		$	57,276
Interest bearing		333,576			339,402			327,758			305,268			309,302
Total deposits		395,990			401,137			386,564			361,393			366,578
Borrowings		34,934			37,085			41,556			46,116			39,885
Accrued expenses and other liabilities		1,797			1,368			1,480			659			1,761
Total liabilities		432,721			439,590			429,600			408,168			408,224
Total stockholders’ equity		56,287			55,068			53,814			52,604			51,618
Total liabilities and stockholders’ equity	$	489,008		$	494,658		$	483,414		$	460,772		$	459,842
Ending shares outstanding		7,020,343			7,008,081			6,963,663			6,921,554			6,853,240
Book value per share		8.02			7.86			7.73			7.60			7.53
Average Balances:
Loans	$	369,191		$	360,877		$	361,216		$	351,815		$	338,525
Earning assets		444,022			450,244			436,391			419,346			414,294
Total assets		487,791			491,385			474,706			457,689			446,991
Interest-bearing deposits		331,231			332,523			312,189			296,171			296,171
Stockholders’ equity		55,752			54,599			53,364			52,163			51,457

(a) Derived from audited consolidated financial statements

American Community Bancshares, Inc.

Consolidated Income Statements

(Amounts in thousands except share and per share data)

(Unaudited)

Three months ended	March 31, 2007			December 31, 2006			September 30, 2006			June 30, 2006			March 31, 2006
Total interest income	$	8,698		$	8,754		$	8,320		$	7,932		$	7,328
Total interest expense		3,899			3,898			3,646			3,180			2,797
Net interest income		4,799			4,856			4,674			4,752			4,531
Provision for loan losses		183			143			1,529			668			272
Net interest income after provision for loan loss		4,616			4,713			3,145			4,084			4,259
Non-interest income
Service charges on deposit accounts		581			615			615			601			562
Mortgage banking operations		80			81			84			106			81
Realized gains on sale of securities		17			—			35			—			25
Other		129			99			128			162			159
Total non-interest income		807			795			862			869			827
Non-interest expense
Salaries and employee benefits		1,658			1,577			1,513			1,855			1,529
Occupancy and equipment		565			570			560			560			571
Other than temporary impairment		76			—			—			—			—
Other		1,102			1,114			1,032			1,034			923
Total non-interest expense		3,401			3,261			3,105			3,449			3,023
Income before income taxes		2,022			2,247			902			1,504			2,063
Provision for income taxes		735			822			290			572			756
Net income	$	1,287		$	1,425		$	612		$	932		$	1,307
Net income per share
Basic	$	0.18		$	0.16		$	0.09		$	0.14		$	0.19
Diluted	$	0.18		$	0.20		$	0.09		$	0.13		$	0.18
Weighted average number of shares outstanding
Basic		7,008,971			8,993,838			6,929,474			6,876,336			6,853,240
Diluted		7,176,577			7,191,755			7,173,914			7,176,336			7,156,948
Return on average equity		9.36	%		10.35	%		4.59	%		7.17	%		10.30	%
Return on average assets		1.05	%		1.15	%		0.52	%		0.82	%		1.19	%
Net interest margin		4.38	%		4.28	%		4.25	%		4.59	%		4.44	%
Efficiency ratio		60.67	%		56.91	%		56.09	%		61.36	%		56.42	%
Allowance for loan losses to total loans		1.46	%		1.52	%		1.63	%		1.41	%		1.29	%
Net charge-offs to avg loans (annualized)		0.37	%		0.60	%		0.63	%		0.13	%		0.02	%
Nonperforming loans to total loans		0.41	%		0.49	%		0.72	%		0.90	%		0.31	%
Nonperforming assets to total assets		0.32	%		0.41	%		0.62	%		0.78	%		0.27	%