Quarterly Statement of ConditionSecond Quarter, June 30, 2012

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

1

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)

20092012

$

$

6,236,46217.920.00

498.53

2,130,888,1771,952,972,6501,634,177,9221,838,962,932

173,450,399

0.59%

7.33%

7.38%

0.22%

1.85%

3.86%

2010 2008

$

$

$

$

$

$

2011

$

$

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%

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%

3.98%

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%

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 Totaldeposits

Customer 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 (loss) Totalshareholders’equity Totalliabilitiesandshareholders’equity

46,626,708147,200,000193,826,708163,555,340

1,665,012,619(30,834,697

1,634,177,92241,618,6287,959,30016,274,79073,475,489

2,130,888,177

399,738,9311,439,224,0011,838,962,932

52,125,39816,438,62037,600,00012,310,828

1,957,437,778

3,479,2206,890,468

166,756,108(3,675,397

173,450,3992,130,888,177

June30,2012

$

$

$

$

)

June 30, 2011

)

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

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

1,681,483,28345,594,715

7,959,30016,769,37875,691,848

2,108,346,500

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

54,930,14616,940,96637,600,00011,899,557

1,946,177,498

3,479,2206,890,468

155,280,786(3,481,472

162,169,0022,108,346,500

$

$

$

$

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

43,158,921885,914187,415

44,232,250

6,173,4051,586,3757,759,780

36,472,4705,724,47230,747,998

4,812,1135,101,4355,396,5691,387,32016,697,437

15,681,8303,540,8208,512,15813,460,64841,195,456

6,249,97913,517

6,236,462

17.92

June30,2012

$

$

$

June 30, 2011

47,435,028 990,545159,131

48,584,704

8,529,0401,575,584

10,104,624

38,480,0806,832,804

31,647,276

5,680,9683,888,2095,236,1941,257,486

16,062,857

15,290,7654,006,0988,366,193

14,088,84141,751,897

5,958,236179,861

5,778,375

16.61

$

$

$

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

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

Mason “Butch” GlassCommunityVolunteer

William C. HaughCEO,GeorgetownCommunityHospital

George H. LusbyScottCountyJudgeExecutive

Kimberly E. MarshallPresident

Randy MasonOwner-Operator,McDonald’s

W. Thomas PratherChairman,CentralBank,Georgetown

CentralBank,LexingtonAdvisoryBoardofDirectorsSheila BayesOwner,SheilaBayesFineJewelry

Kurt BraunFinanceDirector,SouthlandChristianChurch

Edward D. BullardChairman,E.D.BullardCompany

John DundonCFO,SayreChristianVillage

Marian GuinnExecutiveDirector,God’sPantry

Patrick HaydenRetired,RectorHaydenRealEstate

Sarah HealyMcDonald’s

David HouchinPresident,IntechContracting

Jay JohnsonOwner,ThermalBalance,Inc.

Dr. Michael KarpfExecutiveVicePresidentforHealthAffairs/UKHealthCare

Debbie LongOwner,Dudley’sonShort

Anne McBrayerPresident,KentuckyEagleBeer

Everett McCorveyUniversityofKentuckySchoolofMusic-OperaDepartmentChair

Lynn RedmondPresident,MedicalRehabCenter

Brent RiceAttorney,McBrayer,McGinnis,LeslieandKirkland

Michelle RipleyPresident,CommonwealthFundforKET

Charlie ScrogginSeniorVicePresidentHDR-QuestEngineers,Inc.

Lisa Ball SharpVicePresident,BallHomes

Linda SlagelPresident,HighbridgeSpringWater

Denis SteinerPresident,DenhamBlytheCompany,Inc.

Nick StrongOwner,OldColonyInsuranceServices

Greg Vance, DMDOwner,PremierPeriodontics

Billy WilcoxsonPresident,ProSportsManagement

Carol WorshamCo-Principal,Winterwood,Inc.

CentralBank,MadisonCountyAdvisoryBoardofDirectorsDianna Ackerman Broker/Owner,ERAProfessionalHometownServices

Frankie C. Blevins, Jr.Attorney,BlevinsLaw,LLC

Robert R. BlytheEKUProfessorPastor,FirstBaptistChurch

James R. CarrBuilderandDeveloper

Shannon CombsPartner,Combs,ParsonsandCollinsFuneralHome

Jeff FultzPresident

James Ernest HillardOwner,MiddletownIndustrial

Mike RiceOwner,CarsofKentucky,Inc.

Rita H. SmartOwner,TheBennettHouse

CentralBank,NicholasvilleAdvisoryBoardofDirectors

Sandra J. AdamsOwner,Zaxby’s 4

Boards of Directors

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

Joan D. KincaidViceChairmanoftheBoardCentralBancshares,Inc.

Ben A. RainwaterTuttConstruction

Paul E. SullivanPartner,FrostBrownTodd,LLC

Benjamin G. TaylorTaylorMadeFarm&SalesAgency,Inc.

Alan S. VanArsdallPresident

CentralBank,NorthernKentuckyAdvisoryBoardofDirectorsChris CarleSenior Vice President, Chief Operating OfficerSt. Elizabeth Heathcare, Florence

Helen CarrollManager,CommunityRelationsToyotaMotorManufacturing

Joseph A. Creevy, MDRetiredUrologist

Mark GoetzOwner,EdgewoodElectric

Merwin Grayson, Jr.President

Ron HillManagingDirector,TPSSolutions,LTD

Kim PattonVicePresident,TurnerConstruction

Doug RidenourPresident,FederalEquipment

Gregory ShumateMember,FrostBrownTodd,LLC

Ray Will, MDCardiothoracicSurgeon

John YeagerOwner,AshleyDevelopment

CentralBank,WinchesterAdvisoryBoardofDirectorsJames AllenFormerClarkCountyJudge-Executive

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. SmithPresident,MDConsulting,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, IVRetired,DeputyMayor,LouisvilleMetroGovt.

Jude ThompsonOwner&CEO,TransformBusinessSolutions,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

5

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

CREDITADMINISTRATIONJeffrey S. RosenstielSeniorVicePresident

Ben WassonAssistantVicePresident

Jessica LeeCreditAdministrationOfficer

LoanReviewMarie A. YoungVicePresident

David ChrismanSeniorVicePresident

Danny G. AbnerVicePresident

Leigh M. CarrAssistantVicePresident

LeeAnn LayneLoanReviewOfficer

Michael WilliamsLoanReviewOfficer

LoanServicesLaura L. SchweitzerSeniorVicePresident

Timothy R. AustinAssistantVicePresident

Jarred W. PaullCREOfficer

LoanProcessingDonna M. TurnerVicePresident

SpecialAssets Ellen SharpVicePresident

Steve HallVicePresident

Julie SzymanskiAssistantVicePresident

Becky MullinsSpecialAssetsOfficer

COMMERCIALBANKINGGregory A. Bibb ExecutiveVicePresident

CommercialLendingMark KaufmannSeniorVicePresident

Mark R. Fox VicePresident

David RossVicePresident

Jason A. SmithVicePresident

Stephen J. MalloryAssistantVicePresident

ConsumerLendingJerry F. Smalley VicePresident

MortgageLendingGeorge R. Lathram SeniorVicePresident

Paul B. DrakeVicePresident

Christopher R. KincaidVicePresident

Paul R. ThornsberryVicePresident

Jordan OwensCommercialMortgageOfficer

CentralBankMortgageEd WorkmanSeniorVicePresident

Tom BreathittVicePresident

Brad FieldsVicePresident

Officers

6

Catherine HimesVicePresident

Brian W. West VicePresident

Susan BradleyAssistantVicePresident

RebeccaHaddixAssistantVicePresident

Lorraine KinleyAssistantVicePresident

HUMANRESOURCESRose Douglass ExecutiveVicePresident

Amy ManningVicePresident

Shelia Plymale VicePresident

June CarpenterHumanResourcesOfficer

TECHNOLOGYSERVICESJulia Bondra ExecutiveVicePresident

Anna EliassenVicePresident

E. Sean ProfittVicePresident

Brian D. CatronApplicationDevelopmentOfficer

Kevin J. LippertTechnologyServicesOfficer

Chris SchumInformationSecurityOfficer

Paul StewartTechnologyServicesOfficer

RETAILBANKINGDavid L. Moore ExecutiveVicePresident

Michael GartnerSeniorVicePresident

Chris McGaugheyCRACommunityDevelopmentOfficer

BankingCentersRichard D. Hartley VicePresident,RetailDevelopmentOfficer

Terri A. JonesVicePresident, RetailDevelopmentOfficer

D. Keith PrestonVicePresident,RetailDevelopmentOfficer

Alicia F. SmithAssistantVicePresident,RetailDevelopmentOfficer

Karen Burton AssistantVicePresident

Lana AlexanderRetailBankingOfficer

Ugochi E. AlinnorRetailBankingOfficer

Jeffrey BentonRetailBankingOfficer

Gina EnsmingerRetailBankingOfficer

Angela M. FrieszRetailBankingOfficer

Barbara JohnsonRetailBankingOfficer

Terra LongRetailBankingOfficer

Laura M. OwensRetailBankingOfficer

Philip RochesterRetailBankingOfficer

Alexandra TerryRetailBankingOfficer

ClientServicesCathy K. Combs SeniorVicePresident

Diane WilliamsClientServicesOfficer

FINANCIALPLANNINGANDCONTROLPatricia P. Price ExecutiveVicePresident&CFO

Edward BarnesSeniorVicePresident

Shawn PresnellVicePresident

Lisa A. WilliamsonFinancialPlanningOfficer

ENTERPRISERISKMANAGEMENTC. Gregory StacyExecutiveVicePresident

Jimmy HamiltonRiskManagementOfficer

FundsManagement James R. NallAssistantVicePresident

MARKETING Stephen C. Kelly ExecutiveVicePresident

Lesley WrightMarketingOfficer

CorrespondentBankingDoug Flynn CorrespondentBankingOfficer

Officers

7

OPERATIONSANDSUPPORT Operations Anne B. Carter ExecutiveVicePresident

Karen G. Crawley Senior VicePresident

Robin Michul SeniorVicePresident

Harvey Sword AssistantVicePresident

InternetBankingBrenda P. OaksInternetBankingOfficer

CardServicesBeverly Smalley AssistantVicePresident

CorporateServicesKaren RowlandSeniorVicePresident&CorporateTreasuryManager

Maggie AbneyVicePresident

Tracy ReidVicePresident

Lisa K. Vickers VicePresident

Chris CampbellAssistantVicePresident

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

Officers

Christopher ThomasonVicePresident

Matthew FrankPrivateBankingOfficer

CentralInsuranceServicesRoss BarnettePresident

Tom FrancisVicePresident

Robert WesselVicePresident

Steven P. WrightVicePresident

Don YadenVicePresident

Beverly HicksCommercialInsuranceOfficer

Sherry WrightEmployeeBenefitsOfficer

CentralInvestmentCenter,Inc.Jeff GinnanExecutiveVicePresident&SeniorFinancialAdvisor

Don GraeterVicePresident&FinancialAdvisor

Drew GraeterVicePresident&FinancialAdvisor

Tony BrownFinancialAdvisor

Jim DeMossFinancialAdvisor

Jeff Fields, CRPS®FinancialAdvisor

8 9

Christopher ThomasonVicePresident

Matthew FrankPrivateBankingOfficer

CentralInsuranceServicesRoss BarnettePresident

Tom FrancisVicePresident

Robert WesselVicePresident

Steven P. WrightVicePresident

Don YadenVicePresident

Beverly HicksCommercialInsuranceOfficer

Sherry WrightEmployeeBenefitsOfficer

CentralInvestmentCenter,Inc.Jeff GinnanExecutiveVicePresident&SeniorFinancialAdvisor

Don GraeterVicePresident&FinancialAdvisor

Drew GraeterVicePresident&FinancialAdvisor

Tony BrownFinancialAdvisor

Jim DeMossFinancialAdvisor

Jeff Fields, CRPS®FinancialAdvisor

Officers

Deborah FisherFinancialAdvisor

Jacobus M. Ockers FinancialAdvisor

Thomas E. Roberts, CFP®FinancialAdvisor

Spencer GraeterInvestmentOfficer

CentralBank,GeorgetownKimberly E. MarshallPresident

Jennifer J. RobertsVicePresident

Patricia VoigtVicePresident

Jennifer BaldwinAssistantVicePresident

Ashley WeirMortgageLendingOfficer

CentralBank,MadisonCountyJeff FultzPresident

Cameron AbneySeniorVicePresident,SeniorMarketLender

Scott JohnsonVicePresident

Ken RileyVicePresident

Donna HaneyAssistantVicePresident

CentralBank,NicholasvilleAlan S. VanArsdallPresident

Thomas P. PorterExecutiveVicePresident,SeniorMarketLender

Cathy LoweVicePresident

Marcus P. HanksAssistantVicePresident

Jill SloneAssistantVicePresident

Brandy OsborneCommercialLendingOfficer

CentralBank,NorthernKentuckyMerwin Grayson, Jr.President

Matthew E. EilersVicePresident,SeniorMarketLender

Karen J. HomanVicePresident

Joseph NienaberVicePresident,RetailDevelopmentOfficer

Dennis BarnesMortgageLendingOfficer

CentralBank,WinchesterGlenn LeveridgePresident

Tim M. DuncanSeniorVicePresident

Lisa T. EarlywineVicePresident

Lee ColemanAssistantVicePresident

Tammy M. CarrollAssistantVicePresident,RetailDevelopmentOfficer

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, VSeniorVicePresidentBusinessDevelopmentOfficer

CommercialBankingAmy SullivanSeniorVicePresident

MortgageLendingJeanie GammonMortgageLendingOfficer

Leslie SampsonMortgageLendingOfficer

HumanResourcesKaren Butler VicePresident

RetailBankingElaine FawbushAssistantVicePresident

Casey SteitzRetailBankingOfficer

9

300 West Vine StreetLexington, Kentucky 40507

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

Felicia M. WatkinsRetailBankingOfficer

PrivateBankingRobert SliderSeniorVicePresident

Mary LittrellVicePresident

WealthManagementBill KaiserVicePresident

SaltLickDepositBankErnest W. DolihitePresident

Jeff D. Jacob SeniorVicePresident&Security,BSA&AMLOfficer

Lisa S. Grant, CRCMVicePresident&ComplianceOfficer

Vickie EvansAssistantVicePresident

Vicki RomeroAssistantVicePresident

Jacky WatsonAssistantVicePresident

Cheryl ConyersConsumerLendingOfficer