April 04, 2005

First Bank Joins Central Bancshares

Lexington, KY. – Norris J. Shockley, president of First Bank, and Luther Deaton, Jr., chairman, president & CEO of Central Bancshares have jointly announced the merger of First Bank and Central Bancshares Inc. The transaction was approved by all required regulatory agencies and the shareholders of First Bank. It was effective April 1, 2005.

"The partnership with Central has been in development for several months. We will begin offering convenience immediately," noted Shockley. Lobby and drive-in hours have been expanded, with drive-ins open until 6:00 p.m. daily in both locations and from 9:00 to 1:00 Saturdays at Taylorsville Road. Additional ATMs will be available, a total of 28 in the network. Central Bank of Jefferson County’s lending capacity will be much greater, allowing us to serve more of the needs of our local businesses. We’ll be introducing new personal banking and credit card products. And, for the first time, we’ll be able to provide trust, investment and insurance services. Our staff is really excited about these new opportunities."

Deaton, emphasized the supporting role of Central Bancshares saying, "Customers will see the same people they’ve dealt with in the past. They will just have more resources to serve a wider range of financial needs."

First Bank is adopting the Central Bank name at its three offices in Louisville: Main Office, at 4630 Taylorsville Road; Paragon Place Office, at 9100 Shelbyville Road; and the Watterson City Office, at 1930 Bishop Lane. Its total assets were $193 million on September 30, 2004. Central Bank of Jefferson County will continue to operate as a state-chartered, community bank, with its own management team and board of directors.

Central Bancshares is the holding company of Central Bank & Trust Co. in Lexington and Winchester, Central Bank, FSB, in Nicholasville and Georgetown and Salt Lick Deposit Bank, in Salt Lick and Owingsville. With the addition of Central Bank of Jefferson County, Central’s total assets will be more than $1.5 billion. It operates 22 full service, banking offices, 28 ATMs, a mortgage office, an investment brokerage subsidiary and an insurance subsidiary in six Kentucky counties.

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