Post on 19-Oct-2021
Quarterly Statement of ConditionSecond Quarter, June 30, 2011
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: skelly@centralbank.com
Member FDIC
Central Bancshares’ Mission Statement
1
Financial Highlights
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)
20082011
$
$
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%
2009 2007
$
$
$
$
$
$
2010
$
$
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%
3.96%
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%
5,372,83115.444.50
418.40
1,806,454,6841,636,718,7731,444,327,0681,498,108,264
145,569,011
0.61%
7.47%
7.33%
0.15%
1.17%
3.78%
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 TotaldepositsFederal funds purchased and securities sold under repurchase agreementsCustomer 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 Totalshareholders’equity Totalliabilitiesandshareholders’equity
41,071,629138,500,000179,571,629101,276,347
1,706,167,120(24,683,837
1,681,483,28345,594,7157,959,30016,769,37875,691,848
2,108,346,500
377,721,0981,447,085,7311,824,806,829
054,930,14616,940,96637,600,00011,899,557
1,946,177,498
3,479,2206,890,468
155,280,786(3,481,472
162,169,0022,108,346,500
June30,2011
$
$
$
$
)
June 30, 2010
)
41,654,10378,000,000
119,654,10398,312,908
1,772,168,881(21,081,895
1,751,086,98647,106,066
7,959,30017,263,96678,977,282
2,120,360,611
322,910,6791,465,561,7171,788,472,396
33,000,00055,638,12039,253,57937,600,00012,030,767
1,965,994,862
3,479,2206,890,468
145,985,463(1,989,402
154,365,7492,120,360,611
$
$
$
$
)
)
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
47,435,028990,545159,131
48,584,704
8,529,0401,575,58410,104,624
38,480,0806,832,80431,647,276
5,680,9683,888,2095,236,1941,257,48616,062,857
14,188,2654,006,0988,366,19315,191,34141,751,897
5,958,236179,861
5,778,375
16.61
June30,2011
$
$
$
June 30, 2010
48,409,736 991,355
70,52049,471,611
11,160,8652,010,793
13,171,658
36,299,9537,307,297
28,992,656
5,824,8933,233,7734,973,895
734,42314,766,984
14,279,2983,969,5828,496,853
14,291,54141,037,274
2,722,366(668,230
3,390,596
9.75
$
$
$
)
4
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
Richard W. FurstDeanEmeritusGattonCollegeofBusiness&EconomicsUniversityofKentucky
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
Jerry DooleyCEO,GeorgetownCommunityHospital
Mason “Butch” GlassCommunityVolunteer
Kimberly E. MarshallPresident
Randy MasonOwner-Operator,McDonald’s
Happy OsborneHeadBasketballCoach,GeorgetownCollege
W. Thomas PratherChairman,CentralBank,Georgetown
CentralBank,LexingtonAdvisoryBoardofDirectorsAnthany BeattyUniversityofKentucky,CampusServicesPublicSafety
Kurt BraunFinanceDirector,SouthlandChristianChurch
Edward D. BullardChairman,EdBullardCompany
Gary L. CoyleRetired,CentralBank
John DundonHeadSuperintendent,LexingtonChristianAcadamy
Marian GuinnExecutiveDirector,God’sPantry
Patrick HaydenRetired,RectorHaydenRealEstate
Sarah HealyMcDonald’s
Don Howard, Jr.President,H&WManagement
Jay JohnsonOwner,ThermalBalance,Inc.
William LearAttorney,Stoll,Keenon,Ogdon
Debbie LongOwner,Dudley’sonShort
SylviaLovely
Anne McBrayerPresident,KentuckyEagleBeer
Everette McCorveyUniversityofKentuckyBoardofTrusteesandOperaDepartmentChair
P.G. PeeplesPresident&CEO,TheUrbanLeagueofLexington-FayetteCo.
Lynn RedmondPresident,MedicalRehabCenter
Kathy RigginsPresident,InterspaceLimited
Michelle RipleyPresident,CommonwealthFundforKET
Denis SteinerPresident,DenhamBlytheCompany,Inc.
Greg Vance, DMDOwner,PremierPeriodontics
Billy WilcoxsonPresident,ProSportsManagement
Carol WorshamCo-Principal,Winterwood,Inc.
CentralBank,MadisonCountyAdvisoryBoardofDirectorsFrankie C. Blevins, Jr.Attorney,BlevinsLaw,LLC
Robert R. BlytheEKUProfessorPastor,FirstBaptistChurch
James R. CarrBuilderandDeveloper
Jeff FultzPresident
James Ernest HillardOwner,MiddletownIndustrial
Rita H. SmartOwner,TheBennettHouse
CentralBank,NicholasvilleAdvisoryBoardofDirectorsSandra J. AdamsOwner,Zaxby’s Michael D. FoleyPartner,Ray,Foley,Hensley&Company,PLLCCertifiedPublicAccountants
5
Boards of Directors
Joan D. KincaidViceChairmanoftheBoardCentralBancshares,Inc.
Ben A. RainwaterTuttConstruction
Paul E. SullivanPartner,FrostBrownTodd,LLC
Benjamin G. TaylorTaylorMadeFarm&SalesAgency,Inc.
Alan S. VanArsdallPresident
CentralBank,NorthernKentuckyAdvisoryBoardofDirectorsHelen CarrollManager,CommunityRelationsToyotaMotorManufacturing
Joseph A. Creevy, MDPartner,TheUrologyGroup
Mark GoetzOwner,EdgewoodElectric
Merwin Grayson, Jr.President
Ron HillManagingDirector,TPSSolutions,LTD
Kim PattonPartner,GBBNArchitects
Doug RidenourPresident,FederalEquipment
Gregory ShumateMember,FrostBrownTodd,LLC
Ray Will, MDCardiothoracicSurgeon
John YeagerOwner,AshleyDevelopment
CentralBank,WinchesterAdvisoryBoardofDirectorsJames AllenFormerClarkCountyJudge-Executive
Danny Fitzpatrick Owner,FitzpatrickEnterprises
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. SmithPresidentMDConsulting,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, IVDeputyMayor,LouisvilleMetroGovt.
Jude ThompsonCo-Owner,RaisonInsuranceServices,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
6
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
ENTERPRISERISKMANAGEMENTGregory A. Bibb ExecutiveVicePresident
Jeffrey S. RosenstielSeniorVicePresident
Ben WassonAssistantVicePresident
Jimmy HamiltonRiskManagementOfficer
LoanReviewMarie A. YoungVicePresident
Danny G. AbnerVicePresident
Linda A. CollinsVicePresident
Leigh M. CarrAssistantVicePresident
LeeAnn LayneLoanReviewOfficer
Michael WilliamsLoanReviewOfficer
LoanServicesLaura L. SchweitzerSeniorVicePresident
Timothy R. AustinLoanServicesOfficer
LoanProcessingDonna M. TurnerVicePresident
SpecialAssets Ellen SharpVicePresident
David Barkman VicePresident
Steve HallVicePresident
Julie SzymanskiVicePresident
COMMERCIALBANKINGLawrence A. Hobbs ExecutiveVicePresident
Chris McGaugheyCRACommunityDevelopmentOfficer
CommercialLendingP. David BurkeSeniorVicePresident
Mark R. Fox VicePresident
Thomas E. GreinkeVicePresident
David RossVicePresident
Stephen J. MalloryCommercialLendingOfficer
ConsumerLendingJerry F. Smalley VicePresident
T. J. TomlinVicePresident
MortgageLendingGeorge R. Lathram SeniorVicePresident
Paul B. DrakeVicePresident
Paul R. ThornsberryVicePresident
Jordan OwensJr.CommercialMortgageOfficer
CentralBankMortgageEd WorkmanSeniorVicePresident
Tom BreathittVicePresident
Brad FieldsVicePresident
Catherine HimesVicePresident
Officers
7
Susan BradleyAssistantVicePresident
Lorraine KinleyAssistantVicePresident
RebeccaHaddixMortgageOfficer/Underwriter
HUMANRESOURCESRose Douglass ExecutiveVicePresident
Shelia Plymale VicePresident
Amy ManningVicePresident
June CarpenterHumanResourcesOfficer
TECHNOLOGYSERVICESJulia Bondra ExecutiveVicePresident
Anna EliassenVicePresident
E. Sean ProfittVicePresident
Rachel A. RichardsAssistantVicePresident
Brian CatronApplicationDevelopmentOfficer
Kevin J. LippertTechnologyServicesOfficer
Chris SchumInformationSecurityOfficer
RETAILBANKINGDavid L. Moore ExecutiveVicePresident
Michael GartnerSeniorVicePresident
BankingCentersRichard D. Hartley RetailDevelopmentOfficer
Terri A. Jones RetailDevelopmentOfficer
D. Keith PrestonRetailDevelopmentOfficer
Alicia F. SmithRetailDevelopmentOfficer
Karen Burton AssistantVicePresident
Lana AlexanderRetailBankingOfficer
Jeffrey BentonRetailBankingOfficer
Gina EnsmingerRetailBankingOfficer
Ugochi E. EzeRetailBankingOfficer
Angela M. FrieszRetailBankingOfficer
Barbara JohnsonRetailBankingOfficer
Terra LongRetailBankingOfficer
Laura OwensRetailBankingOfficer
Philip RochesterRetailBankingOfficer
Alexandra TerryRetailBankingOfficer
ClientServicesCathy K. Combs SeniorVicePresident
FINANCIALPLANNINGANDCONTROLPatricia P. Price ExecutiveVicePresident&CFO
Edward BarnesSeniorVicePresident
Shawn PresnellAssistantVicePresident
Lisa A. WilliamsonFinancialPlanningOfficer
FUNDSMANAGEMENT C. Gregory StacySeniorVicePresident
Jessica CombsFundsManagementOfficer
MARKETING Stephen C. Kelly ExecutiveVicePresident
Lesley WrightMarketingOfficer
CorrespondentBankingDoug Flynn CorrespondentBankingOfficer
OPERATIONSANDSUPPORT Operations Anne B. Carter ExecutiveVicePresident
Karen G. Crawley Senior VicePresident
Robin Michul SeniorVicePresident
Harvey Sword AssistantVicePresident
InternetBankingBrenda P. OaksInternetBankingOfficer
Officers
8
CardServicesBeverly Smalley AssistantVicePresident
CorporateServicesKaren RowlandSeniorVicePresident&CorporateTreasuryManager
Lisa K. Vickers VicePresident
Maggie MayAssistantVicePresident
Chris CampbellCorporateServicesOfficer
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
Christopher ThomasonVicePresident
Matthew FrankPrivateBankingOfficer
CentralInsuranceServicesRoss BarnettePresident
Tom FrancisVicePresident
Robert WesselVicePresident
Steven P. WrightVicePresident
Officers
Beverly HicksCommercialInsuranceOfficer
Sherry WrightEmployeeBenefitsOfficer
Don YadenPropertyandCasualtyOfficer
CentralInvestmentCenter,Inc.Jeff GinnanExecutiveVicePresident&SeniorFinancialAdvisor
Peter McFarlandSeniorVicePresident&FinancialAdvisor
Don GraeterVicePresident&FinancialAdvisor
Drew GraeterVicePresident&FinancialAdvisor
Jim DeMossFinancialAdvisor
Jeff Fields, CRPS®FinancialAdvisor
Deborah FisherFinancialAdvisor
Jacobus M. Ockers FinancialAdvisor
Thomas E. Roberts, CFP®FinancialAdvisor
Spencer GraeterInvestmentOfficer
CentralBank,GeorgetownKimberly E. MarshallPresident
Jennifer J. RobertsVicePresident
9
Beverly HicksCommercialInsuranceOfficer
Sherry WrightEmployeeBenefitsOfficer
Don YadenPropertyandCasualtyOfficer
CentralInvestmentCenter,Inc.Jeff GinnanExecutiveVicePresident&SeniorFinancialAdvisor
Peter McFarlandSeniorVicePresident&FinancialAdvisor
Don GraeterVicePresident&FinancialAdvisor
Drew GraeterVicePresident&FinancialAdvisor
Jim DeMossFinancialAdvisor
Jeff Fields, CRPS®FinancialAdvisor
Deborah FisherFinancialAdvisor
Jacobus M. Ockers FinancialAdvisor
Thomas E. Roberts, CFP®FinancialAdvisor
Spencer GraeterInvestmentOfficer
CentralBank,GeorgetownKimberly E. MarshallPresident
Jennifer J. RobertsVicePresident
Officers
Patricia VoigtVicePresident
Ashley WeirMortgageLendingOfficer
CentralBank,MadisonCountyJeff FultzPresident
Cameron AbneySeniorVicePresident
Scott JohnsonVicePresident
Ken RileyVicePresident
Donna HaneyAssistantVicePresident
CentralBank,NicholasvilleAlan S. VanArsdallPresident
David ChrismanSeniorVicePresident
Cathy LoweVicePresident
Marcus P. HanksAssistantVicePresident
Jill SloneAssistantVicePresident
CentralBank,NorthernKentuckyMerwin Grayson, Jr.President
Matthew E. EilersVicePresident
Karen J. HomanVicePresident
Kevin McCulloughVicePresident
Joseph NienaberVicePresident
Jim WillmanVicePresident
Dennis BarnesMortgageLendingOfficer
CentralBank,WinchesterGlenn LeveridgePresident
Tom PorterExecutiveVicePresident
Tim M. DuncanSeniorVicePresident
Lisa T. EarlywineVicePresident
Lee ColemanAssistantVicePresident
Tammy M. CarrollRetailDevelopmentOfficer
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, VVicePresidentBusinessDevelopmentOfficer
CommercialLendingChristopher BellVicePresident&CommercialLendingManager
CommercialMortgageLendingAmy SullivanVicePresident&CommercialMortgageManager
MortgageLendingJeanie GammonMortgageLendingOfficer
Leslie SampsonMortgageLendingOfficer
HumanResourcesKaren Butler VicePresident
RetailBankingElaine FawbushAssistantVicePresident
Casey SteitzRetailBankingOfficer
Felicia M. WatkinsRetailBankingOfficer
CorporateServicesScott NortonAssistantVicePresident
PrivateBankingRobert SliderSeniorVicePresident
Mary LittrellVicePresident
WealthManagementBill KaiserTrustOfficer
SaltLickDepositBankErnest W. DolihitePresident
300 West Vine StreetLexington, Kentucky 40507
www.centralbank.com859-253-6222800-637-6884
Jeff D. Jacob SeniorVicePresident&Security,BSA&AMLOfficer
Lisa S. Grant, CRCMVicePresident&ComplianceOfficer
Vickie EvansAssistantVicePresident
Vicki RomeroAssistantVicePresident
Jacky WatsonAssistantVicePresident
Cheryl ConyersConsumerLendingOfficer