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, 2008 AND DECLARES SECOND QUARTER

DIVIDEND OF $0.05 PER SHARE

April 23, 2008. Charlotte, North Carolina: American Community Bancshares, Inc. (Nasdaq: ACBA), the holding company for American Community Bank, announced unaudited earnings decreased for the three months ended March 31, 2008 as compared to unaudited earnings for the same period of 2007. Unaudited earnings as of March 31, 2008 were $991,000, a decrease of $296,000 or 23.0% from unaudited earnings at March 31, 2007. Unaudited net interest income for the quarter decreased to $4.3 million from $4.8 million for the same period in 2007, a decrease of $483,000 or 10.1%.

Net interest margin is interest income earned on loans, securities and other earning assets, less interest expense paid on deposits and borrowings, expressed as a percentage of total average earning assets. The net interest margin for the quarter ended March 31, 2008 was 3.76% compared to 4.38% for the same quarter in 2007. The decrease in net interest margin is primarily a result of deposit and borrowings costs decreasing more slowly than the yield on earning assets. The Federal Open Market Committee (FOMC) decreased short-term rates seven times for a total of 300 basis points beginning September 18, 2007 and ending March 18, 2008. Since the majority of our loans float with the prime lending rate, the yield on our loans decreased immediately as the FOMC lowered rates. Due to the longer term maturity structure of our deposits and borrowings, the costs of those liabilities were slower to decrease.

The Company reported unaudited non-interest income of $1.0 million for the quarter ended March 31, 2008, an increase of approximately 26.3% over the comparable period in 2007. In addition, operating expenses decreased $30,000 or less than 1.0% to $3.4 million for the quarter ended March 31, 2008.

Total assets as of March 31, 2008 were $524.2 million, compared to $489.0 million at March 31, 2007, an increase of $35.2 million or 7.2%. The Company also experienced similar growth in loans and deposits. Total loans were $405.0 million, an increase of $29.6 million or 7.9%, over the $375.4 million reported at March 31, 2007. Total deposits were $411.1 million, an increase of $15.1 million or 3.8% over first quarter 2007 deposits of $396.0 million.

The Company’s provision for loan losses for the quarter ended March 31, 2008 was $425,000, representing a $242,000 or 132.2% increase from the $183,000 recorded for the quarter ended March 31, 2007. The increase in the provision was a combination of growth in the loan portfolio and an increase in non-performing loans and leases by a total of $906,000 or 59.3% from $1.5 million at March 31, 2007 to $2.4 million at March 31, 2008. Gross loans grew $12.0 million for the three months ended March 31, 2008 compared to the $5.0 million growth for the three months ended March 31, 2007. While the Bank is in one of the stronger markets in the Southeast, the Bank continues to take a conservative approach to lending in view of the softening economy.

The Company is also pleased to announce the Board of Directors declared a quarterly cash dividend for the second quarter of 2008 of $0.05 per share. The dividend will be paid on June 2, 2008 to shareholders of record on May 23, 2008.

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 is www.americancommunitybank.com. American Community Bancshares stock is traded on the NASDAQ Capital 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, 2008			December 31, 2007 (a)			September 30, 2007			June 30, 2007			March 31, 2007
Assets
Cash and due from banks	$	16,126		$	14,346		$	15,684		$	17,989		$	17,977
Interest-earning deposits with banks		682			930			5,484			11,481			14,381
Investment securities		79,521			76,782			79,043			74,012			59,946

Loans		404,954			392,959			373,309			381,415			375,395
Allowance for loan losses		(6,095	)		(5,740	)		(5,374	)		(5,543	)		(5,472	)

Net loans		398,859			387,219			367,935			375,872			369,923

Accrued interest receivable		2,398			2,640			2,922			2,615			2,751
Bank premises and equipment		8,605			8,694			8,746			8,927			9,046
Foreclosed real estate		—			—			25			25			25
Non-marketable equity securities at cost		2,814			2,119			2,119			2,119			1,819
Goodwill		9,838			9,838			9,838			9,838			9,838
Other assets		5,308			3,027			3,232			2,803			3,302

Total assets	$	524,151		$	505,595		$	495,028		$	505,681		$	489,008


Liabilities and stockholders’ equity
Deposits
Non-interest bearing	$	53,439		$	54,459		$	54,805		$	58,453		$	62,414
Interest bearing		357,701			345,335			342,574			349,013			333,576

Total deposits		411,140			399,794			397,379			407,466			395,990

Borrowings		55,709			49,504			43,533			40,984			34,934
Accrued expenses and other liabilities		1,807			2,273			1,649			1,272			1,797

Total liabilities		468,656			451,571			442,561			449,722			432,721

Total stockholders’ equity		55,495			54,024			52,467			55,959			56,287

Total liabilities and stockholders’ equity	$	524,151		$	505,595		$	495,028		$	505,681		$	489,008

Ending shares outstanding		6,542,091			6,502,288			6,502,288			6,961,236			7,020,343
Book value per share		8.48		$	8.31		$	8.07		$	8.04		$	8.02

Average Balances:
Loans	$	389,144		$	379,191		$	372,407		$	373,741		$	369,191
Earning assets		471,071			462,078			460,577			460,615			444,022
Total assets		513,398			499,430			501,961			496,220			487,791
Interest-bearing deposits		351,699			344,619			346,820			341,627			331,231
Stockholders’ equity		55,069			53,366			54,041			56,236			55,752

(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, 2008			December 31, 2007			September 30, 2007			June 30, 2007			March 31, 2007
Total interest income	$	8,188		$	8,737		$	9,070		$	8,921		$	8,698
Total interest expense		3,873			4,068			4,225			4,001			3,899

Net interest income		4,315			4,669			4,845			4,920			4,799

Provision for loan losses		425			471			156			231			183

Net interest income after provision for loan loss		3,890			4,198			4,689			4,689			4,616

Non-interest income
Service charges on deposit accounts		602			613			617			608			581
Mortgage banking operations		86			83			70			93			80
Realized gains on sale of securities		—			—			2			—			17
Gain/loss on derivatives		272			132			138			(67	)		11
Other		59			73			134			88			118

Total non-interest income		1,019			901			961			722			807

Non-interest expense
Salaries and employee benefits		1,743			1,724			1,768			1,743			1,658
Occupancy and equipment		584			505			560			564			565
Other than temporary impairment		—			—			—			—			76
Other		1,044			1,132			1,121			1,175			1,103

Total non-interest expense		3,371			3,361			3,449			3,482			3,402

Income before income taxes		1,538			1,738			2,201			1,929			2,021
Provision for income taxes		547			626			801			707			735

Net income	$	991		$	1,112		$	1,400		$	1,222		$	1,286

Net income per share
Basic	$	0.15		$	0.17		$	0.21		$	0.18		$	0.18
Diluted	$	0.15		$	0.17		$	0.21		$	0.17		$	0.18

Weighted average number of shares outstanding
Basic		6,513,526			6,502,288			6,635,709			6,978,724			7,008,971
Diluted		6,623,392			6,652,452			6,799,753			7,140,680			7,176,577

Return on average equity		7.24	%		8.26	%		10.28	%		8.81	%		9.36	%
Return on average assets		0.78	%		0.88	%		1.11	%		1.00	%		1.05	%

Net interest margin		3.76	%		4.01	%		4.22	%		4.28	%		4.38	%
Efficiency ratio		63.20	%		60.34	%		59.40	%		61.72	%		60.68	%

Allowance for loan losses to total loans		1.51	%		1.46	%		1.44	%		1.45	%		1.46	%
Net charge-offs to avg loans (annualized)		0.07	%		0.10	%		0.35	%		0.17	%		0.37	%
Nonperforming loans to total loans		0.60	%		0.44	%		0.37	%		0.40	%		0.41	%
Nonperforming assets to total assets		0.47	%		0.34	%		0.29	%		0.31	%		0.32	%

AMERICAN COMMUNITY BANCSHARES INC 8-K