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Quarterly Statement of ConditionSecond Quarter, June 30, 2012
Central Bank & Trust Co.Central Insurance Services
Central Bank of Jefferson CountyCentral Investment Center, Inc.
Salt Lick Deposit Bank
Showing you the way.
The mission of Central Bancshares is to be a high-performance financial
services company that delivers superior service and value to each customer we
serve. We will emphasize customer and employee satisfaction – always mindful
that quality people will make the Central difference.
Contents
Financial Highlights........................................ 1Consolidated Balance Sheets......................... 2Consolidated Income Statements.............. 3Boards of Directors.......................................... 4Officers...................................................... 6
For additional copies or information, contact:Stephen C. Kelly
Executive Vice President, Marketing & Sales
Central Bank
300 West Vine Street
Lexington, KY 40507
(859) 253-6201
Email: [email protected]
Member FDIC
Central Bancshares’ Mission Statement
1
Financial Highlights
1
Results of Operations: Net income Net income per share Cash dividends per share Book value per share at quarter end At June 30: Assets Earning assets Net loans and leases Deposits Shareholders’ equity Performance Ratios: Return on average assets Return on average shareholders’ equity Average shareholders’ equity to average assets Net charge-offs to average loans and leases Allowance for credit losses as a percentage of quarter end loans and leases Net interest margin (tax equivalent)
20092012
$
$
6,236,46217.920.00
498.53
2,130,888,1771,952,972,6501,634,177,9221,838,962,932
173,450,399
0.59%
7.33%
7.38%
0.22%
1.85%
3.86%
2010 2008
$
$
$
$
$
$
2011
$
$
5,778,37516.610.00
466.11
2,108,346,5001,929,807,0151,681,483,2831,824,806,829
162,169,002
0.55%
7.29%
6.78%
0.29%
1.45%
4.08%
3,390,5969.750.00
443.68
2,120,360,6111,935,439,2831,751,086,9861,788,472,396
154,365,749
0.33%
4.45%
6.62%
0.40%
1.19%
3.98%
706,5832.032.50
415.54
1,976,240,1501,800,049,2391,602,842,5721,646,789,078
144,575,076
0.07%
0.97%
6.75%
0.23%
1.42%
3.44%
5,711,20516.424.50
429.14
1,819,017,9711,642,911,6341,462,865,7591,431,763,205
149,306,596
0.64%
7.75%
7.31%
0.20%
1.34%
3.88%
2
Consolidated Balance Sheets
ASSETSCash and due from banksFederal funds sold TotalcashandcashequivalentsSecuritiesLoans and leases, net of unearned incomeAllowance for credit losses Loansandleases,netPremises and equipment, netFederal Home Loan Bank stockIntangible assetsPrepaid expenses and other assets Totalassets
LIABILITIESANDSHAREHOLDERS’EQUITYDeposits: Non-interest bearing Interest bearing Totaldeposits
Customer sweep accountsFederal Home Loan Bank advancesLong term debt payableOther liabilities Totalliabilities
SHAREHOLDERS’EQUITYCommon stock, par value, $10 a share; 350,000 shares authorized, 347,922 shares outstandingAdditional paid-in capital Retained earningsAccumulated other comprehensive income (loss) Totalshareholders’equity Totalliabilitiesandshareholders’equity
46,626,708147,200,000193,826,708163,555,340
1,665,012,619(30,834,697
1,634,177,92241,618,6287,959,30016,274,79073,475,489
2,130,888,177
399,738,9311,439,224,0011,838,962,932
52,125,39816,438,62037,600,00012,310,828
1,957,437,778
3,479,2206,890,468
166,756,108(3,675,397
173,450,3992,130,888,177
June30,2012
$
$
$
$
)
June 30, 2011
)
41,071,629138,500,000179,571,629101,276,347
1,706,167,120(24,683,837
1,681,483,28345,594,715
7,959,30016,769,37875,691,848
2,108,346,500
377,721,0981,447,085,7311,824,806,829
54,930,14616,940,96637,600,00011,899,557
1,946,177,498
3,479,2206,890,468
155,280,786(3,481,472
162,169,0022,108,346,500
$
$
$
$
3
Consolidated Income Statements
(Forsixmonthsended)
INTERESTINCOME Interest and fees on loans Interest on securities Interest on short term investments
INTERESTEXPENSE Interest on deposits Interest on borrowed funds
Net interest incomeProvision for credit lossesNet interest income after provision for credit losses
OTHERINCOME Service charges on deposit accounts Service charges on loans Wealth management income Other income
OTHEREXPENSES Salaries Benefits Occupancy Other non-interest expenses
Income before provision for income taxesProvision for income taxesNetincome
Basicearningspershare
43,158,921885,914187,415
44,232,250
6,173,4051,586,3757,759,780
36,472,4705,724,47230,747,998
4,812,1135,101,4355,396,5691,387,32016,697,437
15,681,8303,540,8208,512,15813,460,64841,195,456
6,249,97913,517
6,236,462
17.92
June30,2012
$
$
$
June 30, 2011
47,435,028 990,545159,131
48,584,704
8,529,0401,575,584
10,104,624
38,480,0806,832,804
31,647,276
5,680,9683,888,2095,236,1941,257,486
16,062,857
15,290,7654,006,0988,366,193
14,088,84141,751,897
5,958,236179,861
5,778,375
16.61
$
$
$
Boards of Directors
CentralBancshares,Inc.andCentralBank&TrustCo.BoardofDirectorsLuther Deaton, Jr. Chairman,President&CEO CentralBancshares,Inc.andCentralBank&TrustCo.
Michael D. Foley Partner Ray,Foley,Hensley&Company,PLLCCertifiedPublicAccountants
Joan D. Kincaid ViceChairmanoftheBoardCentralBancshares,Inc.andCentralBank&TrustCo.
Wayne M. MartinPresident&GeneralManagerWKYT-TV
Nick NicholsonPresident&CEOKeenelandAssociation
G. Michael RitchiePresident&CEOPhotoScience,Inc.
Paul E. Sullivan Partner FrostBrownTodd,LLC
CentralBank,GeorgetownAdvisoryBoardofDirectorsDallas BlankenshipRetiredSuperintendentScottCountyBoardofEducation
Mason “Butch” GlassCommunityVolunteer
William C. HaughCEO,GeorgetownCommunityHospital
George H. LusbyScottCountyJudgeExecutive
Kimberly E. MarshallPresident
Randy MasonOwner-Operator,McDonald’s
W. Thomas PratherChairman,CentralBank,Georgetown
CentralBank,LexingtonAdvisoryBoardofDirectorsSheila BayesOwner,SheilaBayesFineJewelry
Kurt BraunFinanceDirector,SouthlandChristianChurch
Edward D. BullardChairman,E.D.BullardCompany
John DundonCFO,SayreChristianVillage
Marian GuinnExecutiveDirector,God’sPantry
Patrick HaydenRetired,RectorHaydenRealEstate
Sarah HealyMcDonald’s
David HouchinPresident,IntechContracting
Jay JohnsonOwner,ThermalBalance,Inc.
Dr. Michael KarpfExecutiveVicePresidentforHealthAffairs/UKHealthCare
Debbie LongOwner,Dudley’sonShort
Anne McBrayerPresident,KentuckyEagleBeer
Everett McCorveyUniversityofKentuckySchoolofMusic-OperaDepartmentChair
Lynn RedmondPresident,MedicalRehabCenter
Brent RiceAttorney,McBrayer,McGinnis,LeslieandKirkland
Michelle RipleyPresident,CommonwealthFundforKET
Charlie ScrogginSeniorVicePresidentHDR-QuestEngineers,Inc.
Lisa Ball SharpVicePresident,BallHomes
Linda SlagelPresident,HighbridgeSpringWater
Denis SteinerPresident,DenhamBlytheCompany,Inc.
Nick StrongOwner,OldColonyInsuranceServices
Greg Vance, DMDOwner,PremierPeriodontics
Billy WilcoxsonPresident,ProSportsManagement
Carol WorshamCo-Principal,Winterwood,Inc.
CentralBank,MadisonCountyAdvisoryBoardofDirectorsDianna Ackerman Broker/Owner,ERAProfessionalHometownServices
Frankie C. Blevins, Jr.Attorney,BlevinsLaw,LLC
Robert R. BlytheEKUProfessorPastor,FirstBaptistChurch
James R. CarrBuilderandDeveloper
Shannon CombsPartner,Combs,ParsonsandCollinsFuneralHome
Jeff FultzPresident
James Ernest HillardOwner,MiddletownIndustrial
Mike RiceOwner,CarsofKentucky,Inc.
Rita H. SmartOwner,TheBennettHouse
CentralBank,NicholasvilleAdvisoryBoardofDirectors
Sandra J. AdamsOwner,Zaxby’s 4
Boards of Directors
Michael D. FoleyPartner,Ray,Foley,Hensley&Company,PLLCCertifiedPublicAccountants
Joan D. KincaidViceChairmanoftheBoardCentralBancshares,Inc.
Ben A. RainwaterTuttConstruction
Paul E. SullivanPartner,FrostBrownTodd,LLC
Benjamin G. TaylorTaylorMadeFarm&SalesAgency,Inc.
Alan S. VanArsdallPresident
CentralBank,NorthernKentuckyAdvisoryBoardofDirectorsChris CarleSenior Vice President, Chief Operating OfficerSt. Elizabeth Heathcare, Florence
Helen CarrollManager,CommunityRelationsToyotaMotorManufacturing
Joseph A. Creevy, MDRetiredUrologist
Mark GoetzOwner,EdgewoodElectric
Merwin Grayson, Jr.President
Ron HillManagingDirector,TPSSolutions,LTD
Kim PattonVicePresident,TurnerConstruction
Doug RidenourPresident,FederalEquipment
Gregory ShumateMember,FrostBrownTodd,LLC
Ray Will, MDCardiothoracicSurgeon
John YeagerOwner,AshleyDevelopment
CentralBank,WinchesterAdvisoryBoardofDirectorsJames AllenFormerClarkCountyJudge-Executive
Gerald F. (Kelly) Healy IIIDirectorofOperations,McDonald’s
Nancy LawwillRetiredVicePresident&AssistantTreasurer,CentralBank,Winchester
Glenn LeveridgePresident
Terry LittrellBuilderandDeveloper
Rex McCrary, DMDDentist
Jeff MonohanAssistantVicePresident,TheAllenCompany
Ralph J. PalmerPresident,PalmerEngineeringCompany
Patricia M. SmithPresident,MDConsulting,Inc.
Robert Strode Retired
Mary Jane WarnerManagerofPowerDeliveryEastKentuckyPowerCooperative,Inc.
CentralBankofJeffersonCountyBoardofDirectorsJonathan S. BlueChairman,BlueEquity,LLC
Ronald L. CarmicleChairman,CentralBankofJeffersonCountyPresidentandOwner,RiverCityDevelopment
Marcia CassadyDirector,ClassicalStudiesInstituteofLouisville
Luther Deaton, Jr. CEO,CentralBankofJeffersonCounty
Michael D. FoleyPartner,Ray,Foley,Hensley&Company,PLLCCertifiedPublicAccountants
William P. MaloneRetired,Deming,Malone,Livesay&Ostroff
James Clay SmithPresident
William E. Summers, IVRetired,DeputyMayor,LouisvilleMetroGovt.
Jude ThompsonOwner&CEO,TransformBusinessSolutions,Inc.
SaltLickDepositBankBoardofDirectorsLuther Deaton, Jr.Chairman&CEO
Ernest W. DolihitePresident
Michael D. Foley Partner,Ray,Foley,Hensley&Company,PLLCCertifiedPublicAccountants
Bradley G. FrizzellOwner,FrizzellTaxService,Inc.
William Grimes, PACPresident&CEO,NewHopeMinistriesInc.
Floyd Jack IsonRetired,Hoffman,Ison&Green,Inc.
Paula G. RichardsonPresident,Richardson,Barber&Williamson,PSC
Michael G. TearneyKPMGProfessorofAccountancy&GattonCollegeAssociateDeanEmeritus,UniversityofKentucky
5
CentralBancshares,Inc.OfficersLuther Deaton, Jr. Chairman,President&CEO
Joan D. Kincaid ViceChairman
Anne B. Carter VicePresident
Ranee Leland CorporateSecretary
Patricia P. Price Treasurer
Jeff D. JacobSecurityOfficer
Lisa S. Grant, CRCMComplianceOfficer
CentralBank,LexingtonADMINISTRATIONLuther Deaton, Jr. Chairman,President&CEO
Ranee LelandCorporateSecretary
AuditingCraig L. Daniels, CPA SeniorVicePresident
Lisa S. Grant, CRCMVicePresident&ComplianceOfficer Donna J. Craven, CRCMVicePresident
Danny C. NolandVicePresident
CREDITADMINISTRATIONJeffrey S. RosenstielSeniorVicePresident
Ben WassonAssistantVicePresident
Jessica LeeCreditAdministrationOfficer
LoanReviewMarie A. YoungVicePresident
David ChrismanSeniorVicePresident
Danny G. AbnerVicePresident
Leigh M. CarrAssistantVicePresident
LeeAnn LayneLoanReviewOfficer
Michael WilliamsLoanReviewOfficer
LoanServicesLaura L. SchweitzerSeniorVicePresident
Timothy R. AustinAssistantVicePresident
Jarred W. PaullCREOfficer
LoanProcessingDonna M. TurnerVicePresident
SpecialAssets Ellen SharpVicePresident
Steve HallVicePresident
Julie SzymanskiAssistantVicePresident
Becky MullinsSpecialAssetsOfficer
COMMERCIALBANKINGGregory A. Bibb ExecutiveVicePresident
CommercialLendingMark KaufmannSeniorVicePresident
Mark R. Fox VicePresident
David RossVicePresident
Jason A. SmithVicePresident
Stephen J. MalloryAssistantVicePresident
ConsumerLendingJerry F. Smalley VicePresident
MortgageLendingGeorge R. Lathram SeniorVicePresident
Paul B. DrakeVicePresident
Christopher R. KincaidVicePresident
Paul R. ThornsberryVicePresident
Jordan OwensCommercialMortgageOfficer
CentralBankMortgageEd WorkmanSeniorVicePresident
Tom BreathittVicePresident
Brad FieldsVicePresident
Officers
6
Catherine HimesVicePresident
Brian W. West VicePresident
Susan BradleyAssistantVicePresident
RebeccaHaddixAssistantVicePresident
Lorraine KinleyAssistantVicePresident
HUMANRESOURCESRose Douglass ExecutiveVicePresident
Amy ManningVicePresident
Shelia Plymale VicePresident
June CarpenterHumanResourcesOfficer
TECHNOLOGYSERVICESJulia Bondra ExecutiveVicePresident
Anna EliassenVicePresident
E. Sean ProfittVicePresident
Brian D. CatronApplicationDevelopmentOfficer
Kevin J. LippertTechnologyServicesOfficer
Chris SchumInformationSecurityOfficer
Paul StewartTechnologyServicesOfficer
RETAILBANKINGDavid L. Moore ExecutiveVicePresident
Michael GartnerSeniorVicePresident
Chris McGaugheyCRACommunityDevelopmentOfficer
BankingCentersRichard D. Hartley VicePresident,RetailDevelopmentOfficer
Terri A. JonesVicePresident, RetailDevelopmentOfficer
D. Keith PrestonVicePresident,RetailDevelopmentOfficer
Alicia F. SmithAssistantVicePresident,RetailDevelopmentOfficer
Karen Burton AssistantVicePresident
Lana AlexanderRetailBankingOfficer
Ugochi E. AlinnorRetailBankingOfficer
Jeffrey BentonRetailBankingOfficer
Gina EnsmingerRetailBankingOfficer
Angela M. FrieszRetailBankingOfficer
Barbara JohnsonRetailBankingOfficer
Terra LongRetailBankingOfficer
Laura M. OwensRetailBankingOfficer
Philip RochesterRetailBankingOfficer
Alexandra TerryRetailBankingOfficer
ClientServicesCathy K. Combs SeniorVicePresident
Diane WilliamsClientServicesOfficer
FINANCIALPLANNINGANDCONTROLPatricia P. Price ExecutiveVicePresident&CFO
Edward BarnesSeniorVicePresident
Shawn PresnellVicePresident
Lisa A. WilliamsonFinancialPlanningOfficer
ENTERPRISERISKMANAGEMENTC. Gregory StacyExecutiveVicePresident
Jimmy HamiltonRiskManagementOfficer
FundsManagement James R. NallAssistantVicePresident
MARKETING Stephen C. Kelly ExecutiveVicePresident
Lesley WrightMarketingOfficer
CorrespondentBankingDoug Flynn CorrespondentBankingOfficer
Officers
7
OPERATIONSANDSUPPORT Operations Anne B. Carter ExecutiveVicePresident
Karen G. Crawley Senior VicePresident
Robin Michul SeniorVicePresident
Harvey Sword AssistantVicePresident
InternetBankingBrenda P. OaksInternetBankingOfficer
CardServicesBeverly Smalley AssistantVicePresident
CorporateServicesKaren RowlandSeniorVicePresident&CorporateTreasuryManager
Maggie AbneyVicePresident
Tracy ReidVicePresident
Lisa K. Vickers VicePresident
Chris CampbellAssistantVicePresident
DepositServicesAlisa DurhamVicePresident
BankSecurity Jeff D. Jacob SeniorVicePresident&Security,BSA&AMLOfficer
WEALTHMANAGEMENTTrustBarry HickeySeniorVicePresident&TrustManager
BusinessDevelopmentCharles N. Rush, Jr.VicePresident
EmployeeBenefitsDavid L. Turner SeniorVicePresident
Douglas E. Fritz VicePresident
Sheila C. ParksVicePresident
Operations Marcia E. Wade VicePresident
PersonalTrust Kathryn Wilson GibsonSeniorVicePresident
Eloise G. Penn VicePresident
Carolyn BishopTrustOfficer
InvestmentManagementTimothy D. FyffeSeniorVicePresident&SeniorPortfolioManager
Thomas CorrVicePresident&SeniorPortfolioManager
PrivateBankingGregory M. ShewmakerSeniorVicePresident&PrivateBankingManager
Rita L. BuggVicePresident
Leslie FanninVicePresident
Alicia JordanVicePresident
Officers
Christopher ThomasonVicePresident
Matthew FrankPrivateBankingOfficer
CentralInsuranceServicesRoss BarnettePresident
Tom FrancisVicePresident
Robert WesselVicePresident
Steven P. WrightVicePresident
Don YadenVicePresident
Beverly HicksCommercialInsuranceOfficer
Sherry WrightEmployeeBenefitsOfficer
CentralInvestmentCenter,Inc.Jeff GinnanExecutiveVicePresident&SeniorFinancialAdvisor
Don GraeterVicePresident&FinancialAdvisor
Drew GraeterVicePresident&FinancialAdvisor
Tony BrownFinancialAdvisor
Jim DeMossFinancialAdvisor
Jeff Fields, CRPS®FinancialAdvisor
8 9
Christopher ThomasonVicePresident
Matthew FrankPrivateBankingOfficer
CentralInsuranceServicesRoss BarnettePresident
Tom FrancisVicePresident
Robert WesselVicePresident
Steven P. WrightVicePresident
Don YadenVicePresident
Beverly HicksCommercialInsuranceOfficer
Sherry WrightEmployeeBenefitsOfficer
CentralInvestmentCenter,Inc.Jeff GinnanExecutiveVicePresident&SeniorFinancialAdvisor
Don GraeterVicePresident&FinancialAdvisor
Drew GraeterVicePresident&FinancialAdvisor
Tony BrownFinancialAdvisor
Jim DeMossFinancialAdvisor
Jeff Fields, CRPS®FinancialAdvisor
Officers
Deborah FisherFinancialAdvisor
Jacobus M. Ockers FinancialAdvisor
Thomas E. Roberts, CFP®FinancialAdvisor
Spencer GraeterInvestmentOfficer
CentralBank,GeorgetownKimberly E. MarshallPresident
Jennifer J. RobertsVicePresident
Patricia VoigtVicePresident
Jennifer BaldwinAssistantVicePresident
Ashley WeirMortgageLendingOfficer
CentralBank,MadisonCountyJeff FultzPresident
Cameron AbneySeniorVicePresident,SeniorMarketLender
Scott JohnsonVicePresident
Ken RileyVicePresident
Donna HaneyAssistantVicePresident
CentralBank,NicholasvilleAlan S. VanArsdallPresident
Thomas P. PorterExecutiveVicePresident,SeniorMarketLender
Cathy LoweVicePresident
Marcus P. HanksAssistantVicePresident
Jill SloneAssistantVicePresident
Brandy OsborneCommercialLendingOfficer
CentralBank,NorthernKentuckyMerwin Grayson, Jr.President
Matthew E. EilersVicePresident,SeniorMarketLender
Karen J. HomanVicePresident
Joseph NienaberVicePresident,RetailDevelopmentOfficer
Dennis BarnesMortgageLendingOfficer
CentralBank,WinchesterGlenn LeveridgePresident
Tim M. DuncanSeniorVicePresident
Lisa T. EarlywineVicePresident
Lee ColemanAssistantVicePresident
Tammy M. CarrollAssistantVicePresident,RetailDevelopmentOfficer
James McVeyRetailBankingOfficer
Melissa ShimfesselRetailBankingOfficer
Amy TurnerMortgageLendingOfficer
CentralBank,JeffersonCountyJames Clay SmithPresident
Jeff D. Jacob SeniorVicePresident&Security,BSA&AMLOfficer
Lisa S. Grant, CRCMVicePresident&ComplianceOfficer
William E. Summers, VSeniorVicePresidentBusinessDevelopmentOfficer
CommercialBankingAmy SullivanSeniorVicePresident
MortgageLendingJeanie GammonMortgageLendingOfficer
Leslie SampsonMortgageLendingOfficer
HumanResourcesKaren Butler VicePresident
RetailBankingElaine FawbushAssistantVicePresident
Casey SteitzRetailBankingOfficer
9
300 West Vine StreetLexington, Kentucky 40507
www.centralbank.com859-253-6222800-637-6884
Felicia M. WatkinsRetailBankingOfficer
PrivateBankingRobert SliderSeniorVicePresident
Mary LittrellVicePresident
WealthManagementBill KaiserVicePresident
SaltLickDepositBankErnest W. DolihitePresident
Jeff D. Jacob SeniorVicePresident&Security,BSA&AMLOfficer
Lisa S. Grant, CRCMVicePresident&ComplianceOfficer
Vickie EvansAssistantVicePresident
Vicki RomeroAssistantVicePresident
Jacky WatsonAssistantVicePresident
Cheryl ConyersConsumerLendingOfficer