| Business Summary | | American
Community
Bancshares,
Inc.
was
incorporated
for
the
purpose
of
serving
as
the
bank
holding
company
of
American
Community
Bank
(the
Bank).
The
Company's
only
function
is
the
ownership
of
all
the
issued
and
outstanding
stock
of
the
Bank.
The
Company
does
not
engage
in
any
separate
lines
of
business.
The
Bank
engages
in
general
banking
business
in
North
Carolina,
specifically
Monroe,
Western
Union
County
and
portions
of
Mecklenburg
County.
The
Bank
operates
for
the
primary
purpose
of
serving
the
banking
needs
of
individuals
and
small
to
medium-sized
businesses
in
its
market
area.
The
Bank
has
also
targeted
the
growing
Hispanic
market
as
a
marketing
niche
it
intends
to
pursue.
The
Bank
offers
a
range
of
banking
services,
including
checking
and
savings
accounts;
commercial,
consumer
and
personal
loans;
mortgage
and
factoring
services;
and
other
associated
financial
services. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | American
Community
Bancshares,
Inc.
is
a
bank
holding
company
for
the
American
Community
Bank
in
Monroe,
NC.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
63%
to
$6
million.
Net
interest
income
after
loan
loss
prov.
rose
43%
to
$2.1
million.
Net
income
totaled
$254
thousand
vs.
a
loss
of
$333
thousand.
Net
interest
income
after
LLP
reflects
growth
in
loans,
interest
earning
deposits
and
investments.
Net
income
also
reflects
higher
revenues
from
service
charges
and
factoring
operations. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY2000 Pay | |
| Kenneth Long, 52 Chairman
Directors. | -- | Randy Helton, 45 Pres,
CEO, Director | $154K | Dan Ellis, Jr., 45 Sr.
VP, CFO, Sec. | -- | W. Randy Adcock, 44 Sr.
VP and Monroe City Exec. | -- | Steve Barnes, 45 Sr.
VP and Indian Trail City Exec. | -- | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|