Quarterly Statement of ConditionSecond Quarter, June 30, 2011

Central Bank & Trust Co.Central Insurance Services

Central Bank of Jefferson CountyCentral Investment Center, Inc.

Salt Lick Deposit Bank

Showing you the way.

The mission of Central Bancshares is to be a high-performance financial

services company that delivers superior service and value to each customer we

serve. We will emphasize customer and employee satisfaction – always mindful

that quality people will make the Central difference.

Contents

Financial Highlights........................................ 1Consolidated Balance Sheets......................... 2Consolidated Income Statements.............. 3Boards of Directors.......................................... 4Officers...................................................... 6

For additional copies or information, contact:Stephen C. Kelly

Executive Vice President, Marketing & Sales

Central Bank

300 West Vine Street

Lexington, KY 40507

(859) 253-6201

Email: skelly@centralbank.com

Member FDIC

Central Bancshares’ Mission Statement

1

Financial Highlights

Results of Operations: Net income Net income per share Cash dividends per share Book value per share at quarter end At June 30: Assets Earning assets Net loans and leases Deposits Shareholders’ equity Performance Ratios: Return on average assets Return on average shareholders’ equity Average shareholders’ equity to average assets Net charge-offs to average loans and leases Allowance for credit losses as a percentage of quarter end loans and leases Net interest margin (tax equivalent)

20082011

$

$

5,778,37516.610.00

466.11

2,108,346,5001,929,807,0151,681,483,2831,824,806,829

162,169,002

0.55%

7.29%

6.78%

0.29%

1.45%

4.08%

2009 2007

$

$

$

$

$

$

2010

$

$

3,390,5969.750.00

443.68

2,120,360,6111,935,439,2831,751,086,9861,788,472,396

154,365,749

0.33%

4.45%

6.62%

0.40%

1.19%

3.96%

706,5832.032.50

415.54

1,976,240,1501,800,049,2391,602,842,5721,646,789,078

144,575,076

0.07%

0.97%

6.75%

0.23%

1.42%

3.44%

5,711,20516.424.50

429.14

1,819,017,9711,642,911,6341,462,865,7591,431,763,205

149,306,596

0.64%

7.75%

7.31%

0.20%

1.34%

3.88%

5,372,83115.444.50

418.40

1,806,454,6841,636,718,7731,444,327,0681,498,108,264

145,569,011

0.61%

7.47%

7.33%

0.15%

1.17%

3.78%

2

Consolidated Balance Sheets

ASSETSCash and due from banksFederal funds sold TotalcashandcashequivalentsSecuritiesLoans and leases, net of unearned incomeAllowance for credit losses Loansandleases,netPremises and equipment, netFederal Home Loan Bank stockIntangible assetsPrepaid expenses and other assets Totalassets

LIABILITIESANDSHAREHOLDERS’EQUITYDeposits: Non-interest bearing Interest bearing TotaldepositsFederal funds purchased and securities sold under repurchase agreementsCustomer sweep accountsFederal Home Loan Bank advancesLong term debt payableOther liabilities Totalliabilities

SHAREHOLDERS’EQUITYCommon stock, par value, $10 a share; 350,000 shares authorized, 347,922 shares outstandingAdditional paid-in capital Retained earningsAccumulated other comprehensive income Totalshareholders’equity Totalliabilitiesandshareholders’equity

41,071,629138,500,000179,571,629101,276,347

1,706,167,120(24,683,837

1,681,483,28345,594,7157,959,30016,769,37875,691,848

2,108,346,500

377,721,0981,447,085,7311,824,806,829

054,930,14616,940,96637,600,00011,899,557

1,946,177,498

3,479,2206,890,468

155,280,786(3,481,472

162,169,0022,108,346,500

June30,2011

$

$

$

$

)

June 30, 2010

)

41,654,10378,000,000

119,654,10398,312,908

1,772,168,881(21,081,895

1,751,086,98647,106,066

7,959,30017,263,96678,977,282

2,120,360,611

322,910,6791,465,561,7171,788,472,396

33,000,00055,638,12039,253,57937,600,00012,030,767

1,965,994,862

3,479,2206,890,468

145,985,463(1,989,402

154,365,7492,120,360,611

$

$

$

$

)

)

3

Consolidated Income Statements

(Forsixmonthsended)

INTERESTINCOME Interest and fees on loans Interest on securities Interest on short term investments

INTERESTEXPENSE Interest on deposits Interest on borrowed funds

Net interest incomeProvision for credit lossesNet interest income after provision for credit losses

OTHERINCOME Service charges on deposit accounts Service charges on loans Wealth management income Other income

OTHEREXPENSES Salaries Benefits Occupancy Other non-interest expenses

Income before provision for income taxesProvision for income taxesNetincome

Basicearningspershare

47,435,028990,545159,131

48,584,704

8,529,0401,575,58410,104,624

38,480,0806,832,80431,647,276

5,680,9683,888,2095,236,1941,257,48616,062,857

14,188,2654,006,0988,366,19315,191,34141,751,897

5,958,236179,861

5,778,375

16.61

June30,2011

$

$

$

June 30, 2010

48,409,736 991,355

70,52049,471,611

11,160,8652,010,793

13,171,658

36,299,9537,307,297

28,992,656

5,824,8933,233,7734,973,895

734,42314,766,984

14,279,2983,969,5828,496,853

14,291,54141,037,274

2,722,366(668,230

3,390,596

9.75

$

$

$

)

4

Boards of Directors

CentralBancshares,Inc.andCentralBank&TrustCo.BoardofDirectorsLuther Deaton, Jr. Chairman,President&CEO CentralBancshares,Inc.andCentralBank&TrustCo.

Michael D. Foley Partner Ray,Foley,Hensley&Company,PLLCCertifiedPublicAccountants

Richard W. FurstDeanEmeritusGattonCollegeofBusiness&EconomicsUniversityofKentucky

Joan D. Kincaid ViceChairmanoftheBoardCentralBancshares,Inc.andCentralBank&TrustCo.

Wayne M. MartinPresident&GeneralManagerWKYT-TV

Nick NicholsonPresident&CEOKeenelandAssociation

G. Michael RitchiePresident&CEOPhotoScience,Inc.

Paul E. Sullivan Partner FrostBrownTodd,LLC

CentralBank,GeorgetownAdvisoryBoardofDirectorsDallas BlankenshipRetiredSuperintendentScottCountyBoardofEducation

Jerry DooleyCEO,GeorgetownCommunityHospital

Mason “Butch” GlassCommunityVolunteer

Kimberly E. MarshallPresident

Randy MasonOwner-Operator,McDonald’s

Happy OsborneHeadBasketballCoach,GeorgetownCollege

W. Thomas PratherChairman,CentralBank,Georgetown

CentralBank,LexingtonAdvisoryBoardofDirectorsAnthany BeattyUniversityofKentucky,CampusServicesPublicSafety

Kurt BraunFinanceDirector,SouthlandChristianChurch

Edward D. BullardChairman,EdBullardCompany

Gary L. CoyleRetired,CentralBank

John DundonHeadSuperintendent,LexingtonChristianAcadamy

Marian GuinnExecutiveDirector,God’sPantry

Patrick HaydenRetired,RectorHaydenRealEstate

Sarah HealyMcDonald’s

Don Howard, Jr.President,H&WManagement

Jay JohnsonOwner,ThermalBalance,Inc.

William LearAttorney,Stoll,Keenon,Ogdon

Debbie LongOwner,Dudley’sonShort

SylviaLovely

Anne McBrayerPresident,KentuckyEagleBeer

Everette McCorveyUniversityofKentuckyBoardofTrusteesandOperaDepartmentChair

P.G. PeeplesPresident&CEO,TheUrbanLeagueofLexington-FayetteCo.

Lynn RedmondPresident,MedicalRehabCenter

Kathy RigginsPresident,InterspaceLimited

Michelle RipleyPresident,CommonwealthFundforKET

Denis SteinerPresident,DenhamBlytheCompany,Inc.

Greg Vance, DMDOwner,PremierPeriodontics

Billy WilcoxsonPresident,ProSportsManagement

Carol WorshamCo-Principal,Winterwood,Inc.

CentralBank,MadisonCountyAdvisoryBoardofDirectorsFrankie C. Blevins, Jr.Attorney,BlevinsLaw,LLC

Robert R. BlytheEKUProfessorPastor,FirstBaptistChurch

James R. CarrBuilderandDeveloper

Jeff FultzPresident

James Ernest HillardOwner,MiddletownIndustrial

Rita H. SmartOwner,TheBennettHouse

CentralBank,NicholasvilleAdvisoryBoardofDirectorsSandra J. AdamsOwner,Zaxby’s Michael D. FoleyPartner,Ray,Foley,Hensley&Company,PLLCCertifiedPublicAccountants

5

Boards of Directors

Joan D. KincaidViceChairmanoftheBoardCentralBancshares,Inc.

Ben A. RainwaterTuttConstruction

Paul E. SullivanPartner,FrostBrownTodd,LLC

Benjamin G. TaylorTaylorMadeFarm&SalesAgency,Inc.

Alan S. VanArsdallPresident

CentralBank,NorthernKentuckyAdvisoryBoardofDirectorsHelen CarrollManager,CommunityRelationsToyotaMotorManufacturing

Joseph A. Creevy, MDPartner,TheUrologyGroup

Mark GoetzOwner,EdgewoodElectric

Merwin Grayson, Jr.President

Ron HillManagingDirector,TPSSolutions,LTD

Kim PattonPartner,GBBNArchitects

Doug RidenourPresident,FederalEquipment

Gregory ShumateMember,FrostBrownTodd,LLC

Ray Will, MDCardiothoracicSurgeon

John YeagerOwner,AshleyDevelopment

CentralBank,WinchesterAdvisoryBoardofDirectorsJames AllenFormerClarkCountyJudge-Executive

Danny Fitzpatrick Owner,FitzpatrickEnterprises

Gerald F. (Kelly) Healy IIIDirectorofOperations,McDonald’s

Nancy LawwillRetiredVicePresident&AssistantTreasurer,CentralBank,Winchester

Glenn LeveridgePresident

Terry LittrellBuilderandDeveloper

Rex McCrary, DMDDentist

Jeff MonohanAssistantVicePresident,TheAllenCompany

Ralph J. PalmerPresident,PalmerEngineeringCompany

Patricia M. SmithPresidentMDConsulting,Inc.

Robert Strode Retired

Mary Jane WarnerManagerofPowerDeliveryEastKentuckyPowerCooperative,Inc.

CentralBankofJeffersonCountyBoardofDirectorsJonathan S. BlueChairman,BlueEquity,LLC

Ronald L. CarmicleChairman,CentralBankofJeffersonCountyPresidentandOwner,RiverCityDevelopment

Marcia CassadyDirector,ClassicalStudiesInstituteofLouisville

Luther Deaton, Jr. CEO,CentralBankofJeffersonCounty

Michael D. FoleyPartner,Ray,Foley,Hensley&Company,PLLCCertifiedPublicAccountants

William P. MaloneRetired,Deming,Malone,Livesay&Ostroff

James Clay SmithPresident

William E. Summers, IVDeputyMayor,LouisvilleMetroGovt.

Jude ThompsonCo-Owner,RaisonInsuranceServices,Inc.

SaltLickDepositBankBoardofDirectorsLuther Deaton, Jr.Chairman&CEO

Ernest W. DolihitePresident

Michael D. Foley Partner,Ray,Foley,Hensley&Company,PLLCCertifiedPublicAccountants

Bradley G. FrizzellOwner,FrizzellTaxService,Inc.

William Grimes, PACPresident&CEO,NewHopeMinistriesInc.

Floyd Jack IsonRetired,Hoffman,Ison&Green,Inc.

Paula G. RichardsonPresident,Richardson,Barber&Williamson,PSC

Michael G. TearneyKPMGProfessorofAccountancy&GattonCollegeAssociateDeanEmeritus,UniversityofKentucky

6

CentralBancshares,Inc.OfficersLuther Deaton, Jr. Chairman,President&CEO

Joan D. Kincaid ViceChairman

Anne B. Carter VicePresident

Ranee Leland CorporateSecretary

Patricia P. Price Treasurer

Jeff D. JacobSecurityOfficer

Lisa S. Grant, CRCMComplianceOfficer

CentralBank,LexingtonADMINISTRATIONLuther Deaton, Jr. Chairman,President&CEO

Ranee LelandCorporateSecretary

AuditingCraig L. Daniels, CPA SeniorVicePresident

Lisa S. Grant, CRCMVicePresident&ComplianceOfficer Donna J. Craven, CRCMVicePresident

Danny C. NolandVicePresident

ENTERPRISERISKMANAGEMENTGregory A. Bibb ExecutiveVicePresident

Jeffrey S. RosenstielSeniorVicePresident

Ben WassonAssistantVicePresident

Jimmy HamiltonRiskManagementOfficer

LoanReviewMarie A. YoungVicePresident

Danny G. AbnerVicePresident

Linda A. CollinsVicePresident

Leigh M. CarrAssistantVicePresident

LeeAnn LayneLoanReviewOfficer

Michael WilliamsLoanReviewOfficer

LoanServicesLaura L. SchweitzerSeniorVicePresident

Timothy R. AustinLoanServicesOfficer

LoanProcessingDonna M. TurnerVicePresident

SpecialAssets Ellen SharpVicePresident

David Barkman VicePresident

Steve HallVicePresident

Julie SzymanskiVicePresident

COMMERCIALBANKINGLawrence A. Hobbs ExecutiveVicePresident

Chris McGaugheyCRACommunityDevelopmentOfficer

CommercialLendingP. David BurkeSeniorVicePresident

Mark R. Fox VicePresident

Thomas E. GreinkeVicePresident

David RossVicePresident

Stephen J. MalloryCommercialLendingOfficer

ConsumerLendingJerry F. Smalley VicePresident

T. J. TomlinVicePresident

MortgageLendingGeorge R. Lathram SeniorVicePresident

Paul B. DrakeVicePresident

Paul R. ThornsberryVicePresident

Jordan OwensJr.CommercialMortgageOfficer

CentralBankMortgageEd WorkmanSeniorVicePresident

Tom BreathittVicePresident

Brad FieldsVicePresident

Catherine HimesVicePresident

Officers

7

Susan BradleyAssistantVicePresident

Lorraine KinleyAssistantVicePresident

RebeccaHaddixMortgageOfficer/Underwriter

HUMANRESOURCESRose Douglass ExecutiveVicePresident

Shelia Plymale VicePresident

Amy ManningVicePresident

June CarpenterHumanResourcesOfficer

TECHNOLOGYSERVICESJulia Bondra ExecutiveVicePresident

Anna EliassenVicePresident

E. Sean ProfittVicePresident

Rachel A. RichardsAssistantVicePresident

Brian CatronApplicationDevelopmentOfficer

Kevin J. LippertTechnologyServicesOfficer

Chris SchumInformationSecurityOfficer

RETAILBANKINGDavid L. Moore ExecutiveVicePresident

Michael GartnerSeniorVicePresident

BankingCentersRichard D. Hartley RetailDevelopmentOfficer

Terri A. Jones RetailDevelopmentOfficer

D. Keith PrestonRetailDevelopmentOfficer

Alicia F. SmithRetailDevelopmentOfficer

Karen Burton AssistantVicePresident

Lana AlexanderRetailBankingOfficer

Jeffrey BentonRetailBankingOfficer

Gina EnsmingerRetailBankingOfficer

Ugochi E. EzeRetailBankingOfficer

Angela M. FrieszRetailBankingOfficer

Barbara JohnsonRetailBankingOfficer

Terra LongRetailBankingOfficer

Laura OwensRetailBankingOfficer

Philip RochesterRetailBankingOfficer

Alexandra TerryRetailBankingOfficer

ClientServicesCathy K. Combs SeniorVicePresident

FINANCIALPLANNINGANDCONTROLPatricia P. Price ExecutiveVicePresident&CFO

Edward BarnesSeniorVicePresident

Shawn PresnellAssistantVicePresident

Lisa A. WilliamsonFinancialPlanningOfficer

FUNDSMANAGEMENT C. Gregory StacySeniorVicePresident

Jessica CombsFundsManagementOfficer

MARKETING Stephen C. Kelly ExecutiveVicePresident

Lesley WrightMarketingOfficer

CorrespondentBankingDoug Flynn CorrespondentBankingOfficer

OPERATIONSANDSUPPORT Operations Anne B. Carter ExecutiveVicePresident

Karen G. Crawley Senior VicePresident

Robin Michul SeniorVicePresident

Harvey Sword AssistantVicePresident

InternetBankingBrenda P. OaksInternetBankingOfficer

Officers

8

CardServicesBeverly Smalley AssistantVicePresident

CorporateServicesKaren RowlandSeniorVicePresident&CorporateTreasuryManager

Lisa K. Vickers VicePresident

Maggie MayAssistantVicePresident

Chris CampbellCorporateServicesOfficer

DepositServicesAlisa DurhamVicePresident

BankSecurity Jeff D. Jacob SeniorVicePresident&Security,BSA&AMLOfficer

WEALTHMANAGEMENTTrustBarry HickeySeniorVicePresident&TrustManager

BusinessDevelopmentCharles N. Rush, Jr.VicePresident

EmployeeBenefitsDavid L. Turner SeniorVicePresident

Douglas E. Fritz VicePresident

Sheila C. ParksVicePresident

Operations Marcia E. Wade VicePresident

PersonalTrust Kathryn Wilson GibsonSeniorVicePresident

Eloise G. Penn VicePresident

Carolyn BishopTrustOfficer

InvestmentManagementTimothy D. FyffeSeniorVicePresident&SeniorPortfolioManager

Thomas CorrVicePresident&SeniorPortfolioManager

PrivateBankingGregory M. ShewmakerSeniorVicePresident&PrivateBankingManager

Rita L. BuggVicePresident

Leslie FanninVicePresident

Alicia JordanVicePresident

Christopher ThomasonVicePresident

Matthew FrankPrivateBankingOfficer

CentralInsuranceServicesRoss BarnettePresident

Tom FrancisVicePresident

Robert WesselVicePresident

Steven P. WrightVicePresident

Officers

Beverly HicksCommercialInsuranceOfficer

Sherry WrightEmployeeBenefitsOfficer

Don YadenPropertyandCasualtyOfficer

CentralInvestmentCenter,Inc.Jeff GinnanExecutiveVicePresident&SeniorFinancialAdvisor

Peter McFarlandSeniorVicePresident&FinancialAdvisor

Don GraeterVicePresident&FinancialAdvisor

Drew GraeterVicePresident&FinancialAdvisor

Jim DeMossFinancialAdvisor

Jeff Fields, CRPS®FinancialAdvisor

Deborah FisherFinancialAdvisor

Jacobus M. Ockers FinancialAdvisor

Thomas E. Roberts, CFP®FinancialAdvisor

Spencer GraeterInvestmentOfficer

CentralBank,GeorgetownKimberly E. MarshallPresident

Jennifer J. RobertsVicePresident

9

Beverly HicksCommercialInsuranceOfficer

Sherry WrightEmployeeBenefitsOfficer

Don YadenPropertyandCasualtyOfficer

CentralInvestmentCenter,Inc.Jeff GinnanExecutiveVicePresident&SeniorFinancialAdvisor

Peter McFarlandSeniorVicePresident&FinancialAdvisor

Don GraeterVicePresident&FinancialAdvisor

Drew GraeterVicePresident&FinancialAdvisor

Jim DeMossFinancialAdvisor

Jeff Fields, CRPS®FinancialAdvisor

Deborah FisherFinancialAdvisor

Jacobus M. Ockers FinancialAdvisor

Thomas E. Roberts, CFP®FinancialAdvisor

Spencer GraeterInvestmentOfficer

CentralBank,GeorgetownKimberly E. MarshallPresident

Jennifer J. RobertsVicePresident

Officers

Patricia VoigtVicePresident

Ashley WeirMortgageLendingOfficer

CentralBank,MadisonCountyJeff FultzPresident

Cameron AbneySeniorVicePresident

Scott JohnsonVicePresident

Ken RileyVicePresident

Donna HaneyAssistantVicePresident

CentralBank,NicholasvilleAlan S. VanArsdallPresident

David ChrismanSeniorVicePresident

Cathy LoweVicePresident

Marcus P. HanksAssistantVicePresident

Jill SloneAssistantVicePresident

CentralBank,NorthernKentuckyMerwin Grayson, Jr.President

Matthew E. EilersVicePresident

Karen J. HomanVicePresident

Kevin McCulloughVicePresident

Joseph NienaberVicePresident

Jim WillmanVicePresident

Dennis BarnesMortgageLendingOfficer

CentralBank,WinchesterGlenn LeveridgePresident

Tom PorterExecutiveVicePresident

Tim M. DuncanSeniorVicePresident

Lisa T. EarlywineVicePresident

Lee ColemanAssistantVicePresident

Tammy M. CarrollRetailDevelopmentOfficer

James McVeyRetailBankingOfficer

Melissa ShimfesselRetailBankingOfficer

Amy TurnerMortgageLendingOfficer

CentralBank,JeffersonCountyJames Clay SmithPresident

Jeff D. Jacob SeniorVicePresident&Security,BSA&AMLOfficer

Lisa S. Grant, CRCMVicePresident&ComplianceOfficer

William E. Summers, VVicePresidentBusinessDevelopmentOfficer

CommercialLendingChristopher BellVicePresident&CommercialLendingManager

CommercialMortgageLendingAmy SullivanVicePresident&CommercialMortgageManager

MortgageLendingJeanie GammonMortgageLendingOfficer

Leslie SampsonMortgageLendingOfficer

HumanResourcesKaren Butler VicePresident

RetailBankingElaine FawbushAssistantVicePresident

Casey SteitzRetailBankingOfficer

Felicia M. WatkinsRetailBankingOfficer

CorporateServicesScott NortonAssistantVicePresident

PrivateBankingRobert SliderSeniorVicePresident

Mary LittrellVicePresident

WealthManagementBill KaiserTrustOfficer

SaltLickDepositBankErnest W. DolihitePresident

300 West Vine StreetLexington, Kentucky 40507

www.centralbank.com859-253-6222800-637-6884

Jeff D. Jacob SeniorVicePresident&Security,BSA&AMLOfficer

Lisa S. Grant, CRCMVicePresident&ComplianceOfficer

Vickie EvansAssistantVicePresident

Vicki RomeroAssistantVicePresident

Jacky WatsonAssistantVicePresident

Cheryl ConyersConsumerLendingOfficer