June 26, 2007

Central Bank Promotes Greg Bibb to Executive Vice President and David Burke to Senior Vice President

Lexington, KY. – Central Bank Chairman, President and CEO, Luther Deaton, Jr., has announced two promotions, Greg Bibb as Executive Vice President, Director of Risk Management and David Burke as Senior Vice President, Commercial Lending Manager.

Greg Bibb has over 30 years of banking experience with Central Bank, most recently as Senior Vice President, Commercial Lending Manager. His new responsibilities involve directing the Bank’s new Corporate Risk Management program. Central Bank has established this department in an effort to reduce the Company’s exposure to risk and to become more agile in an ever-evolving marketplace. Bibb will be working with all areas of the Bank and its affiliate companies to assess risk in all lines of business and to develop and implement procedures to reduce corporate risk. These efforts will further enhance the existing corporate controls that protect customers interests and will allow the Company to respond more quickly to opportunities due to a better understanding of the company’s risk.

Mr. Bibb is a graduate of the University of Kentucky where he received his Bachelor’s of Science in Accounting. Mr. Bibb also performed his post-graduate studies at the University of Wisconsin’s Graduate School of Banking.

Mr. Bibb is an active member of the Lexington Fayette Urban County Government Rural Land Board, a Board Member for Guidestone Financial Resources of the Southern Baptist Convention, and also serves as the Treasurer/Finance Chairman for Porter Memorial Baptist Church.

The Bank’s new Commercial Lending Manager will be Senior Vice President, David Burke.

With over 35 years of banking experience, Burke will be responsible for overseeing the Bank’s commercial lenders and support staff in the Lexington market while maintaining his existing corporate relationships.

Mr. Burke attended the University of Kentucky where he received his Bachelor’s of Business Administration. David Burke has also attended multiple banking schools including the Kentucky School of Banking, the National Commercial Lender’s School and the Graduate School of Banking of the South.

Mr. Burke is also involved with the community and is a Board Member of The United Way of the Bluegrass.

Central Bank is a subsidiary of Central Bancshares Inc., which currently operates a total of 27 full service banking centers, 31 ATMs, two mortgage offices, an insurance agency and an investment office in Bath, Boone, Clark, Fayette, Jefferson, Jessamine, Kenton, Madison, and Scott counties. As of March 31, 2007, Central Bancshares’ total assets were $1.776 billion.

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