Lexington, KY. -- Chairman, president & CEO Luther Deaton, Jr. reported a new milestone for Central Bancshares Inc., as assets reached $1.119 billion at year end. This compared to $1.037 billion on December 31, 2001, up 7.9%. Net loans and leases were $823 million, rising 15.9%. Deposits climbed to $864 million, an increase of 8.6%. Shareholders' equity was $90 million, an increase of 15.5% from December 31, 2001.

Central Bancshares' earnings for the quarter ended December 31, 2002, were $3,489,952, or $10.03 per share. Earnings for the fourth quarter of 2001 were $2,557,137, or $7.35 per share. Earnings for the twelve months ended December 31, 2002, were $12,996,810, or $37.36 per share, compared to $11,662,330, or $33.52 per share in 2001.

Commenting on performance, Deaton explained, "Central Bank is continuing to post strong performance quarter after quarter, year after year, because of the support of our customers, board and staff. We are quite pleased by the trend and are working hard to extend it. I would like to thank everyone who made it possible for us to achieve strong performance in all our markets."

In addition, the shareholders have reelected the following directors: Luther Deaton, Jr., chairman of the board, president & chief executive officer; Joan Kincaid, vice chairman, Central Bancshares, Inc; Jane W. Kincaid, vice chairman, Central Bank & Trust Co.; Michael D. Foley, president, Foley & Luby, PSC; Gerald F. Healy, II, owner-operator, McDonald's; Orlando "Tubby" Smith, men's Head Basketball Coach at the University of Kentucky; and Paul E. Sullivan, partner, Frost Brown Todd, LLC.

Furthermore, the following advisory board members for Central Bank & Trust Co., Lexington, have been appointed: Huston Barger, president, Huston Barger Masonry, Inc.; Anthany Beatty, chief of police, Lexington Fayette Urban County Government; Carrie B. Brown, DMD; Frank Butler, hospital director, University of Kentucky Hospital; William J. Collis, MD, Ophthalmologist, Kentucky Eye Institute; Tom Gandolfo, auto dealer; Larry Hacker, president, Congleton-Hacker Company; Don Howard, Jr., owner, H & H Management Co., Inc.; Hugh A. James, owner, Lexington Furniture Company; Douglas P. Johnson, retired senior vice president, Central Bank; Bonnie Quantrell-Jones, president, Quantrell Cadillac, Inc.; Robert Maxwell, vice president, Sallee Horse Vans, Inc.; Charles Mitchell, Jr., retired; Timothy Morris, owner, CMTA, Inc.; Robert C. Mudd, president, Denham-Blythe, Inc.; Rob Ramsey, owner, Ramsey's Enterprises, Inc.; Charles R. Scoggin, president, Quest Engineers, Inc.; Lisa Ball Sharp, Ball Homes, Inc.; Steven S.J. Sherman, partner, Sherman/Carter/Barnhart, PSC; Judy Simpson, Precision Staffing, Inc.; J. Whitney Wallingford, Attorney at Law; Billy Wilcoxson, chairman, Pro Sports Management, Inc.; Jim Williams, president, KASP, Inc.; and Byron A. Young, MD, Johnston Wright Chair of Surgery, University of Kentucky Hospital.

Central Bancshares, Inc. is the holding company of Central Bank & Trust Co., Central Bank, FSB, Salt Lick Deposit Bank and Central Bank Insurance Agency and operates 19 full service banking centers, 24 ATMs, a mortgage office and an insurance agency in Clark, Fayette, Jessamine, Scott and Bath counties.