October 16, 2003

Central Bancshares' Third Quarter Performance Increases

Lexington, KY. -- President & CEO Luther Deaton, Jr. reported Central Bancshares' assets on September 30, 2003, were $1.189 billion, compared to $1.056 billion on the same date in 2002, an increase of 12.5%. Net loans and leases were $933 million, rising 20.9%, and deposits climbed to $962 million, an increase of 15.1%. Shareholders' Equity reached $99 million, an increase of 13.8% from September 30, 2002.

Central Bancshares' earnings for the quarter ended September 30, 2003, were $3,702,890, or $10.64 per share, compared to $3,337,743, or $9.59 per share. Year-to-date earnings for the nine months ended September 30, 2002, were $10,093,697, or $29.01 per share, up 6.2% from $9,506,858, or $27.32 per share, in 2002.

Deaton commented, "Despite the challenges presented by the economy and an extremely competitive environment, our customers, shareholders and employees have made it possible for our overall performance to outpace our expectations."

Central Bancshares, Inc. is the holding company of Central Bank & Trust Co., Central Bank, FSB, Salt Lick Deposit Bank, Central Bank Insurance Agency Inc. and Central Investment Center, Inc. The bank provides full service banking, mortgage, investment, insurance and trust services in 19 offices and 26 ATMs in Clark, Fayette, Jessamine, Scott and Bath counties.

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