January 21, 2006

Central Bancshares' Fourth Quarter Performance

Lexington, KY. – Chairman, President & CEO Luther Deaton, Jr. reported Central Bancshares' assets were $1.648 billion at December 31, 2005. This compared to $1.335 billion on December 31, 2004, up 23.45%. Gross loans and leases were $1.247 billion, rising 18.59% and deposits climbed to $1.335 billion, an increase of 24.84%. Shareholders' equity was $128 million, an increase of 11.26% from December 31, 2004.

Central Bancshares' earnings for twelve months ended December 31, 2005, were $16,390,790, or $47.11 per share, a record for the holding company. This compared to $15,029,774 or $43.20 per share for twelve months ended December 31, 2004. Earnings for the fourth quarter of 2005 were $4,223,724, or $12.14 per share.

Commenting on performance, Deaton explained, “I continue to be amazed and excited by these results that we, as a company, produce quarter after quarter. I do feel, that without our team of dedicated and hard working staff, our board and our customers, we could not continue to achieve such positive results. I would like to thank each and every one of them because they have made this possible."

At the Annual Shareholders’ Meeting the following directors were reelected: Luther Deaton, Jr.,; Joan Kincaid, Central Bancshares, Inc; Jane W. Kincaid, Central Bank & Trust Co.; Michael D. Foley, Ray, Foley, Hensley & Co., PLLC; Richard W, Furst, Gatton College of Business & Economics University of Kentucky; Wayne M. Martin, WKYT-TV; Orlando "Tubby" Smith, University of Kentucky; and Paul E. Sullivan, Frost Brown Todd, LLC.

At the Annual Shareholders Meetings of Central Bancshares’ other subsidiaries: Central Bank, FSB, Salt Lick Deposit Bank, Central Investment Center, Inc., and Central Bank Insurance Agency Inc., the officers and directors of those companies were also reelected.

Furthermore, the following advisory board members for Central Bank & Trust Co., Lexington, have been appointed: William C. Carl, Old Colony Insurance Service, Inc.; Sherman Davis, Landmark Sprinkler, Inc.; Tom Gandolfo, Auto Dealer, Douglas C. Gibson, The Gibson Company; D. Ray Gillespie, Kentucky Self Insurers; Clay Green II, Green’s Toyota City; Gerald F. Healy II, McDonald’s; David R. Houchin, Intech Contracting, Inc.; William M. Lear, Jr., Stoll, Kennon & Park Law Firm; Sylvia Lovely, Kentucky League of Cities; Jamal Mashburn, NBA professional; Rodney D. Parsons, Equipment Sales and Rentals, LLC; Rob Ramsey, Ramsey Enterprises, Inc.; Ray Rector. Rector Realty, Inc.; G. Michael Ritchie, Photo Science, Inc.; Bobby Rogers, Kentucky Medical Services Foundation Inc.; Warren P. Rogers, W. Rogers Company; Phil Scott, Greenebaum, Doll, & McDonald; David G. Stone, General Rubber and Plastics, Inc.; Dr. Russell Travis, Hank Whitman, Lexington Paint & Supply Co., Inc.; Billy Wilcoxson, Pro Sports Management Dr. Jerry Yon, Gastroenterology Consultants.

Central Bancshares, Inc. is the holding company of Central Bank & Trust Co., Central Bank, FSB, Central Bank of Jefferson County, Salt Lick Deposit Bank, Central Bank Insurance Agency Inc. and Central Investment Center, Inc. The bank operates 24 offices and 28 ATMs in Bath, Boone, Clark, Fayette, Jefferson, Jessamine, Madison and Scott counties and provides full service banking, mortgage, investment, insurance and trust services.

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