Central Bank & Trust Co. Central Insurance Services .

Quarterly Statement of ConditionSecond Quarter, June 30, 2011Central Bank & Trust Co.Central Insurance ServicesCentral Bank of Jefferson CountyCentral Investment Center, Inc.Salt Lick Deposit BankShowing you the way.

Central Bancshares’ Mission StatementThe mission of Central Bancshares is to be a high-performance financialservices company that delivers superior service and value to each customer weserve. We will emphasize customer and employee satisfaction – always mindfulthat quality people will make the Central difference.ContentsFinancial Highlights. 1Consolidated Balance Sheets. 2Consolidated Income Statements. 3Boards of Directors. 4Officers. 6For additional copies or information, contact:Stephen C. KellyExecutive Vice President, Marketing & SalesCentral Bank300 West Vine StreetLexington, KY 40507(859) 253-6201Email: skelly@centralbank.comMember FDIC

Financial Highlights2011Results of Operations:Net income Net income per shareCash dividends per shareBook value per shareat quarter endAt June 30:AssetsEarning assetsNet loans and leasesDepositsShareholders’ equity5,778,37516.610.002010 3,390,5969.750.002009 706,5832.032.502008 5,711,20516.424.502007 5,372,83115.444.50466.11443.68415.54429.14418.40 29162,169,002 96154,365,749 78144,575,076 05149,306,596 44%3.88%3.78%Performance Ratios:Return on average assetsReturn on averageshareholders’ equityAverage shareholders’equity to average assetsNet charge-offs to averageloans and leasesAllowance for creditlosses as a percentageof quarter end loans and leasesNet interest margin(tax equivalent)1

Consolidated Balance SheetsJune 30, 2011ASSETSCash and due from banksFederal funds soldTotal cash and cash equivalentsSecuritiesLoans and leases, net of unearned incomeAllowance for credit lossesLoans and leases, netPremises and equipment, netFederal Home Loan Bank stockIntangible assetsPrepaid expenses and other assetsTotal assets LIABILITIES AND SHAREHOLDERS’ EQUITYDeposits:Non-interest bearingInterest bearingTotal depositsFederal funds purchased and securities sold underrepurchase agreementsCustomer sweep accountsFederal Home Loan Bank advancesLong term debt payableOther liabilitiesTotal liabilities June 30, ,30016,769,37875,691,8482,108,346,500 377,721,0981,447,085,7311,824,806,829 ,498SHAREHOLDERS’ EQUITYCommon stock, par value, 10 a share; 350,000 sharesauthorized, 347,922 shares outstandingAdditional paid-in capitalRetained earningsAccumulated other comprehensive incomeTotal shareholders’ equityTotal liabilities and shareholders’ equity 12,9081,772,168,881(21,081,895 9,402 ) 154,365,7492,120,360,611

Consolidated Income Statements(For six months ended)June 30, 2011INTEREST INCOMEInterest and fees on loansInterest on securitiesInterest on short term investments 47,435,028990,545159,13148,584,704 9,5828,496,85314,291,54141,037,274 2,722,366(668,230)3,390,596 9.75INTEREST EXPENSEInterest on depositsInterest on borrowed fundsNet interest incomeProvision for credit lossesNet interest income after provision for credit lossesOTHER INCOMEService charges on deposit accountsService charges on loansWealth management incomeOther incomeOTHER EXPENSESSalariesBenefitsOccupancyOther non-interest expensesIncome before provision for income taxesProvision for income taxesNet income 5,958,236179,8615,778,375Basic earnings per share 16.613June 30, 2010

Boards of DirectorsCentral Bancshares, Inc. andCentral Bank & Trust Co.Board of DirectorsLuther Deaton, Jr.Chairman, President & CEOCentral Bancshares, Inc. andCentral Bank & Trust Co.Michael D. FoleyPartnerRay, Foley, Hensley & Company, PLLCCertified Public AccountantsRichard W. FurstDean EmeritusGatton College of Business & EconomicsUniversity of KentuckyJoan D. KincaidVice Chairman of the BoardCentral Bancshares, Inc. andCentral Bank & Trust Co.Happy OsborneHead Basketball Coach, GeorgetownCollegeP.G. PeeplesPresident & CEO, The Urban League ofLexington-Fayette Co.W. Thomas PratherChairman, Central Bank, GeorgetownLynn RedmondPresident, Medical Rehab CenterCentral Bank, LexingtonAdvisory Board of DirectorsAnthany BeattyUniversity of Kentucky, Campus ServicesPublic SafetyKathy RigginsPresident, Interspace LimitedKurt BraunFinance Director, SouthlandChristian ChurchDenis SteinerPresident, Denham Blythe Company, Inc.Edward D. BullardChairman, Ed Bullard CompanyGary L. CoyleRetired, Central BankWayne M. MartinPresident & General ManagerWKYT-TVJohn DundonHead Superintendent, Lexington ChristianAcadamyNick NicholsonPresident & CEOKeeneland AssociationMarian GuinnExecutive Director, God’s PantryG. Michael RitchiePresident & CEOPhoto Science, Inc.Paul E. SullivanPartnerFrost Brown Todd, LLCPatrick HaydenRetired, Rector Hayden Real EstateSarah HealyMcDonald’sDon Howard, Jr.President, H & W ManagementCentral Bank, GeorgetownAdvisory Board of DirectorsDallas BlankenshipRetired SuperintendentScott County Board of EducationJay JohnsonOwner, Thermal Balance, Inc.Jerry DooleyCEO, Georgetown Community HospitalDebbie LongOwner, Dudley’s on ShortMason “Butch” GlassCommunity VolunteerSylvia LovelyKimberly E. MarshallPresidentRandy MasonOwner-Operator, McDonald’sWilliam LearAttorney, Stoll, Keenon, OgdonAnne McBrayerPresident, Kentucky Eagle BeerEverette McCorveyUniversity of Kentucky Board of Trusteesand Opera Department Chair4Michelle RipleyPresident, Commonwealth Fund for KETGreg Vance, DMDOwner, Premier PeriodonticsBilly WilcoxsonPresident, Pro Sports ManagementCarol WorshamCo-Principal, Winterwood, Inc.Central Bank, Madison CountyAdvisory Board of DirectorsFrankie C. Blevins, Jr.Attorney, Blevins Law, LLCRobert R. BlytheEKU ProfessorPastor, First Baptist ChurchJames R. CarrBuilder and DeveloperJeff FultzPresidentJames Ernest HillardOwner, Middletown IndustrialRita H. SmartOwner, The Bennett HouseCentral Bank, NicholasvilleAdvisory Board of DirectorsSandra J. AdamsOwner, Zaxby’sMichael D. FoleyPartner, Ray, Foley, Hensley & Company,PLLC Certified Public Accountants

Boards of DirectorsJoan D. KincaidVice Chairman of the BoardCentral Bancshares, Inc.Gerald F. (Kelly) Healy IIIDirector of Operations, McDonald’sWilliam P. MaloneRetired, Deming, Malone, Livesay & OstroffBen A. RainwaterTutt ConstructionNancy LawwillRetired Vice President & AssistantTreasurer, Central Bank, WinchesterJames Clay SmithPresidentPaul E. SullivanPartner, Frost Brown Todd, LLCGlenn LeveridgePresidentBenjamin G. TaylorTaylor Made Farm & Sales Agency, Inc.Terry LittrellBuilder and DeveloperAlan S. VanArsdallPresidentRex McCrary, DMDDentistCentral Bank, Northern KentuckyAdvisory Board of DirectorsHelen CarrollManager, Community RelationsToyota Motor ManufacturingJeff MonohanAssistant Vice President, The AllenCompanyJoseph A. Creevy, MDPartner, The Urology GroupMark GoetzOwner, Edgewood ElectricMerwin Grayson, Jr.PresidentRon HillManaging Director, TPS Solutions, LTDKim PattonPartner, GBBN ArchitectsDoug RidenourPresident, Federal EquipmentGregory ShumateMember, Frost Brown Todd, LLCRay Will, MDCardiothoracic SurgeonJohn YeagerOwner, Ashley DevelopmentCentral Bank, WinchesterAdvisory Board of DirectorsJames AllenFormer Clark County Judge-ExecutiveDanny FitzpatrickOwner, Fitzpatrick EnterprisesWilliam E. Summers, IVDeputy Mayor, Louisville Metro Govt.Jude ThompsonCo-Owner, Raison Insurance Services, Inc.Salt Lick Deposit BankBoard of DirectorsLuther Deaton, Jr.Chairman & CEOErnest W. DolihitePresidentRalph J. PalmerPresident, Palmer Engineering Company Michael D. FoleyPartner, Ray, Foley, Hensley & Company,PLLC Certified Public AccountantsPatricia M. SmithPresidentBradley G. FrizzellMD Consulting, Inc.Owner, Frizzell Tax Service, Inc.Robert StrodeWilliam Grimes, PACRetiredPresident & CEO, New Hope Ministries Inc.Mary Jane WarnerFloyd Jack IsonManager of Power DeliveryEast Kentucky Power Cooperative, Inc. Retired, Hoffman, Ison & Green, Inc.Central Bank of Jefferson CountyBoard of DirectorsJonathan S. BlueChairman, Blue Equity, LLCRonald L. CarmicleChairman, Central Bank of JeffersonCountyPresident and Owner, River CityDevelopmentMarcia CassadyDirector, Classical Studies Institute ofLouisvilleLuther Deaton, Jr.CEO, Central Bank of Jefferson CountyMichael D. FoleyPartner, Ray, Foley, Hensley & Company,PLLC Certified Public Accountants5Paula G. RichardsonPresident, Richardson, Barber &Williamson, PSCMichael G. TearneyKPMG Professor of Accountancy & GattonCollege Associate Dean Emeritus, Universityof Kentucky

OfficersCentral Bancshares, Inc.OfficersLuther Deaton, Jr.Chairman, President & CEOJoan D. KincaidVice ChairmanAnne B. CarterVice PresidentRanee LelandCorporate SecretaryPatricia P. PriceTreasurerJeff D. JacobSecurity OfficerLisa S. Grant, CRCMCompliance OfficerCentral Bank, LexingtonADMINISTRATIONLuther Deaton, Jr.Chairman, President & CEORanee LelandCorporate SecretaryAuditingCraig L. Daniels, CPASenior Vice PresidentLisa S. Grant, CRCMVice President & Compliance OfficerDonna J. Craven, CRCMVice PresidentDanny C. NolandVice PresidentENTERPRISE RISK MANAGEMENTGregory A. BibbExecutive Vice PresidentJeffrey S. RosenstielSenior Vice PresidentBen WassonAssistant Vice PresidentJimmy HamiltonRisk Management OfficerLoan ReviewMarie A. YoungVice PresidentDanny G. AbnerVice PresidentLinda A. CollinsVice PresidentLeigh M. CarrAssistant Vice PresidentLeeAnn LayneLoan Review OfficerMichael WilliamsLoan Review OfficerLoan ServicesLaura L. SchweitzerSenior Vice PresidentTimothy R. AustinLoan Services OfficerLoan ProcessingDonna M. TurnerVice PresidentSpecial AssetsEllen SharpVice PresidentDavid BarkmanVice PresidentSteve HallVice PresidentJulie SzymanskiVice PresidentCOMMERCIAL BANKINGLawrence A. HobbsExecutive Vice President6Chris McGaugheyCRA Community DevelopmentOfficerCommercial LendingP. David BurkeSenior Vice PresidentMark R. FoxVice PresidentThomas E. GreinkeVice PresidentDavid RossVice PresidentStephen J. MalloryCommercial Lending OfficerConsumer LendingJerry F. SmalleyVice PresidentT. J. TomlinVice PresidentMortgage LendingGeorge R. LathramSenior Vice PresidentPaul B. DrakeVice PresidentPaul R. ThornsberryVice PresidentJordan OwensJr. Commercial Mortgage OfficerCentral Bank MortgageEd WorkmanSenior Vice PresidentTom BreathittVice PresidentBrad FieldsVice PresidentCatherine HimesVice President