##### Table of Contents









UNITED STATES


SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549


FORM 10-K




|  |                                                                                         
|- | ----------------------------------------------------------------------------------------
|þ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2005


OR




|  |                                                                                             
|- | --------------------------------------------------------------------------------------------
|o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934

For the transition period
from          to


Commission file number:
333-93437


Centra Financial Holdings, Inc.




|                                         |  |                    
|---------------------------------------- |  | -------------------
|West Virginia                            |  | 55-0770610         
|(State or other jurisdiction of          |  | (I.R.S. Employer   
|incorporation or organization)           |  | Identification No.)
|                                        
|990 Elmer Prince Drive, Morgantown, WV   |  | 26505              
|(Address of principal executive offices) |  | (Zip Code)         



(304) 598-2000






|                                       |  |                                          
|-------------------------------------- |  | -----------------------------------------
|Title of Each Class                    |  | Name of Each Exchange on Which Registered
|                                       |  |                                          
|[Common Stock, $1 par value per share] |  | None                                     



o þ


o þ


þ o


S-K 10-K 10-K. o


12b-2 o þ


12b-2


o o þ




10-K.










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##### 



TABLE OF CONTENTS







|              |  |                                                                                           |    |      |    | 
|------------- |  | ----------------------------------------------------------------------------------------- | -- | ---- | -- | 
|              |  |                                                                                           |    | Page |   
|              |  |                                                                                           |    |      |   
|PART I        |  |                                                                                           |    |     
|Item 1.       |  | Business                                                                                  |    |      | 3  | 
|Item 1A.      |  | Risk Factors                                                                              |    |      | 10 | 
|Item 1B.      |  | Unresolved Staff Comments                                                                 |    |      | 12 | 
|Item 2.       |  | Properties                                                                                |    |      | 12 | 
|Item 3.       |  | Legal Proceedings                                                                         |    |      | 12 | 
|Item 4.       |  | Submission of Matters to a Vote of Security
    Holders                                   |    |      | 12 | 
|PART II       |  |                                                                                           |    |     
|Item 5.       |  | Market for Registrants Common Stock
    and Related Stockholder Matters                  |    |      | 12 | 
|Item 6.       |  | Selected Financial Data                                                                   |    |      | 14 | 
|Item 7.       |  | Managements Discussion and Analysis
    of Financial Condition and Results of Operations |    |      | 14 | 
|Item 7A.      |  | Quantitative and Qualitative Disclosures
    about Market Risk                            |    |      | 33 | 
|Item 8.       |  | Financial Statements and Supplementary
    Data                                           |    |      | 33 | 
|Item 9.       |  | Changes in and Disagreements with
    Accountants on Accounting and Financial Disclosure  |    |      | 34 | 
|Item 9A.      |  | Controls and Procedures                                                                   |    |      | 34 | 
|Item 9B.      |  | Other Information                                                                         |    |      | 34 | 
|PART III      |  |                                                                                           |    |     
|Item 10.      |  | Directors and Executive Officers of the
    Registrant                                    |    |      | 59 | 
|Item 11.      |  | Executive Compensation                                                                    |    |      | 59 | 
|Item 12.      |  | Security Ownership of Certain Beneficial
    Owners and Management                        |    |      | 59 | 
|Item 13.      |  | Certain Relationships and Related
    Transactions                                        |    |      | 59 | 
|Item 14.      |  | Principal Accounting Fees and Services                                                    |    |      | 59 | 
|PART IV       |  |                                                                                           |    |     
|Item 15.      |  | Exhibits and Financial Statement
    Schedules                                            |    |      | 60 | 
|Signatures    |  |                                                                                           | 61 |     
|Exhibit Index |  |                                                                                           | 63 |     
|EX-10.15     
|EX-10.16     
|EX-10.17     
|EX-12        
|EX-21        
|EX-23        
|EX-31.1      
|EX-31.2      
|EX-32.1      
|EX-32.2      



2



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PART I







|        |         
|------- | --------
|ITEM 1. | BUSINESS

















Recent Additions




3



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##### Table of Contents



Customers and Markets






Commercial Loans




Lending Practices.




Consumer Loans




Lending Practices.


4



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Real Estate Loans




Lending Practices.


Home Equity Loans. 20-year


Construction Loans.


Competition






5



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##### Table of Contents





Supervision and Regulation




Bank Holding Company Regulation.










6



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##### Table of Contents





Banking Subsidiary Regulation.


International Money Laundering Abatement and
Anti-Terrorist Financing Act of 2001 (USA Patriot Act).


Federal Deposit Insurance Corporation




Federal Home Loan Bank




Capital Requirements


Federal Reserve Board.


7



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10-K.


West Virginia Division of Banking.


Limits on Dividends


10-K,


Federal and State Laws


truth-in low-to


Monetary Policy and Economic Conditions






Effect of Environmental Regulation




8



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Subsequent Events




Executive Officers




|                    |  |     |    |  |          |                                   |                       |                                                                                                                                                                                                                                                                                                                                                                                                                    |  |                                                                                                                                                                                                                                                             
|------------------- |  | --- | -- |  | -------- | --------------------------------- | --------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Name                |  | Age |    |  | Position |                                   |                       | Principal Occupation (Past Five Years)                                                                                                                                                                                                                                                                                                                                                                            
|                    |  |     |    |  |          |                                   |                       |                                                                                                                                                                                                                                                                                                                                                                                                                   
|Henry M. Kayes, Jr. |  |     | 38 |  |          |                                   | Senior Vice President |                                                                                                                                                                                                                                                                                                                                                                                                                    |  | President  Martinsburg Region, Centra Bank, Inc.
    (2001 to present). Senior Vice President  City
    Executive, Martinsburg, West Virginia, Branch Banking and Trust
    (2000 to 2001). Senior Vice President, One Valley
    Bank  East (1989-2001).
|Kevin D. Lemley     |  |     | 51 |  |          | Vice President, CFO and Treasurer |                       | Senior Vice President and CFO Centra Bank, Inc. (1999 to
    present). Senior Vice President, Huntington National Bank, West
    Virginia (Commercial Portfolio Manager/ Manager of Statewide
    Commercial Lending) (1997-1999); Huntington National Bank, West
    Virginia, Chief Financial Officer (1987-1997).                                                                                              
|Timothy P. Saab     |  |     | 49 |  |          | Vice President and Secretary      |                       | Senior Vice President, Centra Bank, Inc. (1999 to present). Vice
    President and Group Executive, Private Financial Group,
    Huntington National Bank (1996-1999); Senior Vice President,
    Huntington National Bank, West Virginia (1993-1996); Corporate
    Secretary, Huntington Bancshares West Virginia (1989-1996);
    Corporate Secretary, Huntington National Bank, West Virginia
    (1994-1997).

9



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|                    |  |     |    |  |          |  |                |                                        |  |                                                                                                                                                                                     
|------------------- |  | --- | -- |  | -------- |  | -------------- | -------------------------------------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Name                |  | Age |    |  | Position |  |                | Principal Occupation (Past Five Years)
|                    |  |     |    |  |          |  |                |                                       
|E. Richard Hilleary |  |     | 57 |  |          |  | Vice President |                                        |  | Senior Vice President  Commercial Lending, Centra
    Bank, Inc. (1999 to present). Vice President, Huntington
    National Bank, West Virginia (Commercial Lending (1973 to 1999).
|Karla J. Strosnider |  |     | 43 |  |          |  | Vice President |                                        |  | Senior Vice President, Centra Bank, Inc. (1999 to present).
    Assistant Vice President, Operations, One Valley
    Bank  Charleston (1981 to 1999).                              
|John T. Fahey       |  |     | 44 |  |          |  | Vice President |                                        |  | Vice President and Marketing Director, Centra Bank, Inc. (1999
    to present). Marketing Director, Huntington National Bank, West
    Virginia (1991 to 1999).                     






|         |             
|-------- | ------------
|ITEM 1A. | RISK FACTORS



| |                                                                
| | ---------------------------------------------------------------
| | The Company faces vigorous competition in its market
    areas.





out-of




| |                                                                                        
| | ---------------------------------------------------------------------------------------
| | The Companys lending limit may prevent it from
    attracting higher volume customers.



10



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| |                                                                                                                                  
| | ---------------------------------------------------------------------------------------------------------------------------------
| | The Company engages in commercial and consumer lending
    activities which are riskier than residential real estate
    lending.





| |                                                                                                                                                                     
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | The Company has limited control over its profitability
    because the Company cannot control the various factors that can
    cause fluctuations in interest rates.







| |                                                                    
| | -------------------------------------------------------------------
| | The Companys success depends on the
    Companys management team.





| |                                                                               
| | ------------------------------------------------------------------------------
| | An economic slowdown in our market area could hurt the
    Companys business.





| |   |                                                                                                                                                                                  
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  | Loan delinquencies may increase;                                                                                                                                                 
|
| |  | Problem assets and foreclosures may increase;                                                                                                                                    
|
| |  | Demand for the products and services of the Company may
    decline; and                                                                                                         
|
| |  | Collateral (including real estate) for loans made by the Company
    may decline in value, in turn reducing customers borrowing
    power and making existing loans less secure.



| |                                 
| | --------------------------------
| | The Company is highly regulated.



11



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| |                                                                                                                             
| | ----------------------------------------------------------------------------------------------------------------------------
| | The Company may incur increased charge-offs and
    additional loan loss provision due to negative credit in the
    future.





| |                                                                
| | ---------------------------------------------------------------
| | The Company has no current plans to declare cash
    dividends.








|         |                          
|-------- | -------------------------
|ITEM 1B. | UNRESOLVED STAFF COMMENTS








|        |           
|------- | ----------
|ITEM 2. | PROPERTIES



10-K.







|        |                  
|------- | -----------------
|ITEM 3. | LEGAL PROCEEDINGS








|        |                                                    
|------- | ---------------------------------------------------
|ITEM 4. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS






PART II







|        |                                                                                                                  
|------- | -----------------------------------------------------------------------------------------------------------------
|ITEM 5. | MARKET FOR REGISTRANTS COMMON EQUITY, RELATED
    STOCKHOLDER MATTERS, AND ISSUER PURCHASER OF EQUITY SECURITIES





12



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Quarterly Market and Dividend Information:


|               |  |              |       |  |          |   |              |           |  |   |          |  |  |   |      | 
|-------------- |  | ------------ | ----- |  | -------- | - | ------------ | --------- |  | - | -------- |  |  | - | ---- | 
|               |  | 2005         |       |  | 2004     |  
|               |  |              |       |  |          |  
|               |  | Estimated    |       |  |          |   | Estimated    |           |  |  
|               |  | Market Value |       |  |          |   | Market Value |           |  |  
|               |  | Per Share    |       |  | Dividend |   |              | Per Share |  |   | Dividend | 
|               |  |              |       |  |          |   |              |           |  |   |          | 
|Fourth Quarter |  | $            | 14.77 |  |          | $ | 0.00         |           |  | $ | 12.81    |  |  | $ | 0.00 | 
|Third Quarter  |  |              | 14.77 |  |          |   | 0.00         |           |  |   | 12.81    |  |  |   | 0.00 | 
|Second Quarter |  |              | 14.54 |  |          |   | 0.00         |           |  |   | 12.81    |  |  |   | 0.00 | 
|First Quarter  |  |              | 13.63 |  |          |   | 0.00         |           |  |   | 12.81    |  |  |   | 0.00 | 







13



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ITEM 6.     SELECTED FINANCIAL
DATA




|                                                     |                              |      |           |       |      |   |           |      |   |   |           |      |   |      |           |      |   |   |           |       |   
|---------------------------------------------------- | ---------------------------- | ---- | --------- | ----- | ---- | - | --------- | ---- | - | - | --------- | ---- | - | ---- | --------- | ---- | - | - | --------- | ----- | --
|(Dollars in Thousands, except Ratios and Per         |                              | 2005 |           |       | 2004 |   |           | 2003 |   |   | 2002      |      |   | 2001 |          
|Share Data)                                          |                              |      |           |       |      |   |           |      |   |   |           |      |   |      |          
|Operating Data                                       |                              |      |           |       |      |   |           |      |   |   |           |      |   |      |           |      |   |   |           |      
|For the year ended:                                  |                              |      |           |       |      |   |           |      |   |   |           |      |   |      |           |      |   |   |           |      
|Total interest income                                |                              | $    | 29,530    |       |      | $ | 20,014    |      |   | $ | 14,634    |      |   | $    | 10,566    |      |   | $ | 7,118     |      
|Total interest expense                               |                              |      | 11,288    |       |      |   | 6,846     |      |   |   | 5,304     |      |   |      | 4,312     |      |   |   | 3,662     |      
|Net interest income                                  |                              |      | 18,242    |       |      |   | 13,168    |      |   |   | 9,330     |      |   |      | 6,254     |      |   |   | 3,456     |      
|Provision for credit losses                          |                              |      | 1,341     |       |      |   | 2,160     |      |   |   | 2,099     |      |   |      | 967       |      |   |   | 793       |      
|Other income                                         |                              |      | 3,135     |       |      |   | 2,497     |      |   |   | 2,786     |      |   |      | 1,529     |      |   |   | 753       |      
|Security losses                                      |                              |      | (247      | )     |      |   |          |      |   |   |          |      |   |      |          |      |   |   |          |      
|Other expense                                        |                              |      | 13,465    |       |      |   | 10,350    |      |   |   | 8,157     |      |   |      | 5,891     |      |   |   | 4,312     |      
|Income tax expense (benefit)                         |                              |      | 2,337     |       |      |   | 1,151     |      |   |   | (104      | )    |   |      |          |      |   |   |          |      
|Net income (loss)                                    |                              |      | 3,987     |       |      |   | 2,004     |      |   |   | 1,964     |      |   |      | 925       |      |   |   | (896      | )    
|Balance Sheet Data                                   |                              |      |           |       |      |   |           |      |   |   |           |      |   |      |           |      |   |   |           |      
|At year-end:                                         |                              |      |           |       |      |   |           |      |   |   |           |      |   |      |           |      |   |   |           |      
|Total assets                                         |                              | $    | 550,756   |       |      | $ | 442,914   |      |   | $ | 350,368   |      |   | $    | 266,551   |      |   | $ | 155,747   |      
|Investment securities                                |                              |      | 49,748    |       |      |   | 23,386    |      |   |   | 22,895    |      |   |      | 37,170    |      |   |   | 13,096    |      
|Total loans                                          |                              |      | 463,496   |       |      |   | 396,914   |      |   |   | 295,925   |      |   |      | 186,737   |      |   |   | 118,665   |      
|Total deposits                                       |                              |      | 484,532   |       |      |   | 385,822   |      |   |   | 302,355   |      |   |      | 214,868   |      |   |   | 128,334   |      
|Short-term borrowings                                |                              |      | 18,536    |       |      |   | 14,507    |      |   |   | 16,953    |      |   |      | 24,578    |      |   |   | 12,551    |      
|Long-term debt                                       |                              |      | 10,000    |       |      |   | 10,000    |      |   |   |          |      |   |      |          |      |   |   |          |      
|Stockholders equity                                 |                              |      | 33,873    |       |      |   | 29,745    |      |   |   | 27,838    |      |   |      | 25,871    |      |   |   | 14,161    |      
|Significant Ratios                                   |                              |      |           |       |      |   |           |      |   |   |           |      |   |      |           |      |   |   |           |      
|Net income (loss) to:                                |                              |      |           |       |      |   |           |      |   |   |           |      |   |      |           |      |   |   |           |      
|                                                     | Average total assets         |      |           | .80   | %    |   |           | .50  | % |   |           | .64  | % |      |           | .45  | % |   |           | (.81  | )%
|                                                     | Average stockholders equity |      |           | 12.50 |      |   |           | 6.98 |   |   |           | 7.32 |   |      |           | 4.52 |   |   |           | (6.99 | ) 
|Average stockholders equity to average total assets |                              |      | 6.42      |       |      |   | 7.14      |      |   |   | 8.78      |      |   |      | 9.98      |      |   |   | 11.53     |      
|Average total loans to average deposits              |                              |      | 99.46     |       |      |   | 99.06     |      |   |   | 90.66     |      |   |      | 88.79     |      |   |   | 89.14     |      
|Risk-based capital ratio                             |                              |      | 11.58     |       |      |   | 12.09     |      |   |   | 10.95     |      |   |      | 15.16     |      |   |   | 12.92     |      
|Per Share Data                                       |                              |      |           |       |      |   |           |      |   |   |           |      |   |      |           |      |   |   |           |      
|Basic net income (loss) per share                    |                              | $    | 1.42      |       |      | $ | .71       |      |   | $ | .70       |      |   | $    | .38       |      |   | $ | (.50      | )    
|Diluted net income (loss) per share                  |                              |      | 1.32      |       |      |   | .68       |      |   |   | .66       |      |   |      | .36       |      |   |   | (.50      | )    
|Cash dividends paid                                  |                              |      | 0.00      |       |      |   | 0.00      |      |   |   | 0.00      |      |   |      | 0.00      |      |   |   | 0.00      |      
|Book value at end of period                          |                              |      | 12.02     |       |      |   | 11.65     |      |   |   | 10.91     |      |   |      | 10.14     |      |   |   | 8.04      |      
|Basic weighted-average shares outstanding            |                              |      | 2,809,646 |       |      |   | 2,807,757 |      |   |   | 2,807,757 |      |   |      | 2,417,137 |      |   |   | 1,781,450 |      
|Diluted weighted-average shares outstanding          |                              |      | 3,012,444 |       |      |   | 2,947,206 |      |   |   | 2,967,427 |      |   |      | 2,553,999 |      |   |   | 1,781,450 |      






|        |                                                                                          
|------- | -----------------------------------------------------------------------------------------
|ITEM 7. | MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL
    CONDITION AND RESULTS OF OPERATIONS

Forward-Looking Statements:




14



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| |   |                                                                                                                      
| | - | ---------------------------------------------------------------------------------------------------------------------
| |  | General economic conditions, either nationally or within
    Centras markets, could be less favorable than expected;
|
| |  | Changes in market interest rates could affect interest margins
    and profitability;                                
|
| |  | Competitive pressures could be greater than anticipated;                                                             
|
| |  | Legal or accounting changes could affect Centras
    results; and                                                   
|
| |  | Adverse changes could occur in the securities and investments
    markets.                                           



Introduction


10-K.


Application of Critical Accounting Policies






15



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Recent Accounting Pronouncements and Developments




Summary Financial Results










16



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Interest Income and Expense
















17



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Statistical Financial Information Regarding Centra




Average Balances and Analysis of Net Interest Income:


|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |   |        |        |        |  |      |      |      |  
|------------------------------------------------- | ------------------------- | ------------------------------------------ | ------- | ------- | ------- | - | ------ | ------ | ------- |  | ------- | ---- | ---- | ------- | ------- | ------- | ------- | - | ------ | ------ | ------ |  | ---- | ---- | ---- | -
|                                                  |                           | 2005                                       |         |         | 2004    |  
|                                                  |                           |                                            |         |         |         |  
|                                                  |                           |                                            |         | Average |         |   |        |        | Average | 
|                                                  |                           | Average                                    |         |         | Income/ |   |        | Yield/ |         |  | Average |      |      | Income/ |         |         | Yield/  |  
|                                                  |                           | Balance                                    |         |         | Expense |   |        | Rate   |         |  | Balance |      |      | Expense |         |         | Rate    |  
|(Dollars in Thousands)                            |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|Securities(1)(4):                                 |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |   |        |        |        |  |      |     
|                                                  | Taxable                   |                                            | $       | 25,553  |         |   | $      | 769    |         |  |         | 3.01 | %    |         | $       | 22,678  |         |   | $      | 457    |        |  |      | 2.02 | %   
|                                                  | Tax-exempt                |                                            |         | 192     |         |   |        | 11     |         |  |         | 5.53 |      |         |         | 37      |         |   |        | 2      |        |  |      | 6.38 |     
|Loans(2)(3)(4):                                   |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |   |        |        |        |  |      |     
|                                                  | Commercial                |                                            |         | 290,660 |         |   |        | 19,040 |         |  |         | 6.55 | %    |         |         | 243,788 |         |   |        | 13,014 |        |  |      | 5.34 | %   
|                                                  | Real estate               |                                            |         | 107,122 |         |   |        | 6,510  |         |  |         | 6.08 | %    |         |         | 80,169  |         |   |        | 4,432  |        |  |      | 5.53 | %   
|                                                  | Consumer                  |                                            |         | 35,128  |         |   |        | 2,582  |         |  |         | 7.35 | %    |         |         | 25,880  |         |   |        | 1,905  |        |  |      | 7.36 | %   
|                                                  | Allowance for loan losses |                                            |         | (7,075  | )       |   |        |        |         |  |         |      |      |         |         | (5,276  | )       |   |        |        |        |  |      |      |     
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|                                                  | Net loans                 |                                            |         | 425,835 |         |   |        | 28,132 |         |  |         | 6.61 | %    |         |         | 344,561 |         |   |        | 19,351 |        |  |      | 5.62 | %   
|Loans held for sale                               |                           |                                            | 2,721   |         |         |   | 164    |        |         |  | 6.02    | %    |      |         | 1,866   |         |         |   | 112    |        |        |  | 5.98 | %   
|Short-term investments:                           |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |   |        |        |        |  |      |     
|                                                  | Interest-bearing deposits |                                            |         | 1,627   |         |   |        | 95     |         |  |         | 5.89 | %    |         |         | 1,219   |         |   |        | 33     |        |  |      | 2.74 | %   
|                                                  | Federal funds sold        |                                            |         | 11,591  |         |   |        | 425    |         |  |         | 3.67 | %    |         |         | 10,591  |         |   |        | 130    |        |  |      | 1.22 | %   
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|                                                  | Total                     |                                            |         | 13,218  |         |   |        | 520    |         |  |         | 3.94 | %    |         |         | 11,810  |         |   |        | 163    |        |  |      | 1.38 | %   
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|                                                  |                           | Total earning assets                       |         |         | 467,519 |   |        |        | 29,596  |  |         |      | 6.33 | %       |         |         | 380,952 |   |        |        | 20,085 |  |      |      | 5.27 | %
|Other assets                                      |                           |                                            | 28,961  |         |         |   |        |        |         |  |         |      |      |         | 20,950  |         |         |   |        |        |        |  |      |     
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|                                                  |                           | Total assets                               |         | $       | 496,480 |   |        |        |         |  |         |      |      |         |         | $       | 401,902 |   |        |        |        |  |      |      |      |  
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|Interest-bearing deposits:                        |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |   |        |        |        |  |      |     
|                                                  | Savings                   |                                            | $       | 15,282  |         |   |        | 113    |         |  |         | 0.74 | %    |         | $       | 12,705  |         |   |        | 84     |        |  |      | 0.66 | %   
|                                                  | Demand                    |                                            |         | 111,921 |         |   |        | 1,960  |         |  |         | 1.75 | %    |         |         | 97,219  |         |   |        | 926    |        |  |      | 0.95 | %   
|                                                  | Time                      |                                            |         | 246,427 |         |   |        | 8,227  |         |  |         | 3.34 | %    |         |         | 196,919 |         |   |        | 5,599  |        |  |      | 2.84 | %   
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|                                                  |                           | Total                                      |         |         | 373,630 |   |        |        | 10,300  |  |         |      | 2.76 | %       |         |         | 306,843 |   |        |        | 6,609  |  |      |      | 2.15 | %
|Short-term borrowed funds                         |                           |                                            | 16,164  |         |         |   | 423    |        |         |  | 2.62    | %    |      |         | 15,217  |         |         |   | 116    |        |        |  | .77  | %   
|Long-term debt                                    |                           |                                            | 10,000  |         |         |   | 565    |        |         |  | 5.65    | %    |      |         | 2,814   |         |         |   | 121    |        |        |  | 4.31 | %   
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|Total interest-bearing liabilities                |                           |                                            | 399,794 |         |         |   | 11,288 |        |         |  | 2.82    | %    |      |         | 324,874 |         |         |   | 6,846  |        |        |  | 2.11 | %   
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|Non-interest-bearing demand deposits              |                           |                                            | 61,636  |         |         |   |        |        |         |  |         |      |      |         | 46,327  |         |         |   |        |        |        |  |      |     
|Other liabilities                                 |                           |                                            | 3,159   |         |         |   |        |        |         |  |         |      |      |         | 1,988   |         |         |   |        |        |        |  |      |     
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|                                                  |                           | Total liabilities                          |         |         | 464,589 |   |        |        |         |  |         |      |      |         |         |         | 373,189 |   |        |        |        |  |      |      |      |  
|                                                  |                           | Stockholders equity                       |         |         | 31,891  |   |        |        |         |  |         |      |      |         |         |         | 28,713  |   |        |        |        |  |      |      |      |  
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|                                                  |                           | Total liabilities and stockholders equity |         | $       | 496,480 |   |        |        |         |  |         |      |      |         |         | $       | 401,902 |   |        |        |        |  |      |      |      |  
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|Interest rate spread                              |                           |                                            |         |         |         | $ | 18,308 |        |         |  | 3.51    | %    |      |         |         |         |         | $ | 13,239 |        |        |  | 3.16 | %   
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|Interest income/earning assets                    |                           |                                            |         |         |         |   |        |        |         |  | 6.33    | %    |      |         |         |         |         |   |        |        |        |  | 5.27 | %   
|Interest expense/earning assets                   |                           |                                            |         |         |         |   |        |        |         |  | 2.41    | %    |      |         |         |         |         |   |        |        |        |  | 1.79 | %   
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  
|Net yield on earning assets (net interest margin) |                           |                                            |         |         |         |   |        |        |         |  | 3.92    | %    |      |         |         |         |         |   |        |        |        |  | 3.48 | %   
|                                                  |                           |                                            |         |         |         |   |        |        |         |  |         |      |      |         |         |         |         |  

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|    |                                                                                                                    
|--- | -------------------------------------------------------------------------------------------------------------------
|(1) | Average balances of investment securities based on carrying
    value.                                             
|   
|(2) | Loan fees included in interest income for 2005 were $371 and
    $260 in 2004.                                     
|   
|(3) | Nonaccrual loans are included in the daily average loan amounts
    outstanding.                                   
|   
|(4) | For 2005 and 2004, income is computed on a fully tax-equivalent
    basis assuming a tax rate of approximately 40%.

Average Balances and Analysis of Net Interest Income:


|                                                  |                           |                                            |         |         |         |   |       |        |        |  |      |      |      |  
|------------------------------------------------- | ------------------------- | ------------------------------------------ | ------- | ------- | ------- | - | ----- | ------ | ------ |  | ---- | ---- | ---- | -
|                                                  |                           | 2003                                       |        
|                                                  |                           |                                            |        
|                                                  |                           |                                            |         | Average |        
|                                                  |                           | Average                                    |         |         | Income/ |   |       | Yield/ |       
|                                                  |                           | Balance                                    |         |         | Expense |   |       | Rate   |       
|(Dollars in Thousands)                            |                           |                                            |         |         |         |   |       |        |       
|Securities(1):                                    |                           |                                            |         |         |         |   |       |        |        |  |      |     
|                                                  | Taxable                   |                                            | $       | 30,737  |         |   | $     | 508    |        |  |      | 1.65 | %   
|Loans(2):                                         |                           |                                            |         |         |         |   |       |        |        |  |      |     
|                                                  | Commercial                |                                            |         | 170,102 |         |   |       | 9,269  |        |  |      | 5.45 | %   
|                                                  | Real estate               |                                            |         | 47,462  |         |   |       | 2,857  |        |  |      | 6.02 | %   
|                                                  | Consumer                  |                                            |         | 18,659  |         |   |       | 1,493  |        |  |      | 8.00 | %   
|                                                  | Allowance for loan losses |                                            |         | (3,298  | )       |   |       |        |        |  |      |      |     
|                                                  |                           |                                            |         |         |         |   |       |        |       
|                                                  | Net loans                 |                                            |         | 232,925 |         |   |       | 13,619 |        |  |      | 5.85 | %   
|Loans held for sale                               |                           |                                            | 6,490   |         |         |   | 295   |        |        |  | 4.55 | %   
|Short-term investments:                           |                           |                                            |         |         |         |   |       |        |        |  |      |     
|                                                  | Interest-bearing deposits |                                            |         | 961     |         |   |       | 24     |        |  |      | 2.54 | %   
|                                                  | Federal funds sold        |                                            |         | 20,456  |         |   |       | 223    |        |  |      | 1.09 | %   
|                                                  |                           |                                            |         |         |         |   |       |        |       
|                                                  | Total                     |                                            |         | 21,417  |         |   |       | 247    |        |  |      | 1.15 | %   
|                                                  |                           |                                            |         |         |         |   |       |        |       
|                                                  |                           | Total earning assets                       |         |         | 291,569 |   |       |        | 14,669 |  |      |      | 5.03 | %
|Other assets                                      |                           |                                            | 14,243  |         |         |   |       |        |        |  |      |     
|                                                  |                           |                                            |         |         |         |   |       |        |       
|                                                  |                           | Total assets                               |         | $       | 305,812 |   |       |        |        |  |      |      |      |  
|                                                  |                           |                                            |         |         |         |   |       |        |       
|Interest-bearing deposits:                        |                           |                                            |         |         |         |   |       |        |        |  |      |     
|                                                  | Savings                   |                                            | $       | 8,464   |         |   | $     | 64     |        |  |      | 0.75 | %   
|                                                  | Demand                    |                                            |         | 75,188  |         |   |       | 712    |        |  |      | 0.95 | %   
|                                                  | Time                      |                                            |         | 143,996 |         |   |       | 4,450  |        |  |      | 3.09 | %   
|                                                  |                           |                                            |         |         |         |   |       |        |       
|                                                  |                           | Total                                      |         |         | 227,648 |   |       |        | 5,226  |  |      |      | 2.37 | %
|Short-term borrowed funds                         |                           |                                            | 17,243  |         |         |   | 78    |        |        |  | .45  | %   
|                                                  |                           |                                            |         |         |         |   |       |        |       
|Total interest-bearing liabilities                |                           |                                            | 244,891 |         |         |   | 5,304 |        |        |  | 2.17 | %   
|                                                  |                           |                                            |         |         |         |   |       |        |       
|Non-interest-bearing demand deposits              |                           |                                            | 32,910  |         |         |   |       |        |        |  |      |     
|Other liabilities                                 |                           |                                            | 1,166   |         |         |   |       |        |        |  |      |     
|                                                  |                           |                                            |         |         |         |   |       |        |       
|                                                  |                           | Total liabilities                          |         |         | 278,967 |   |       |        |        |  |      |      |      |  
|                                                  |                           | Stockholders equity                       |         |         | 26,845  |   |       |        |        |  |      |      |      |  
|                                                  |                           |                                            |         |         |         |   |       |        |       
|                                                  |                           | Total liabilities and stockholders equity |         | $       | 305,812 |   |       |        |        |  |      |      |      |  
|                                                  |                           |                                            |         |         |         |   |       |        |       
|Interest rate spread                              |                           |                                            |         |         |         | $ | 9,365 |        |        |  | 2.86 | %   
|                                                  |                           |                                            |         |         |         |   |       |        |       
|Interest income/earning assets                    |                           |                                            |         |         |         |   |       |        |        |  | 5.03 | %   
|Interest expense/earning assets                   |                           |                                            |         |         |         |   |       |        |        |  | 1.82 | %   
|                                                  |                           |                                            |         |         |         |   |       |        |       
|Net yield on earning assets (net interest margin) |                           |                                            |         |         |         |   |       |        |        |  | 3.21 | %   
|                                                  |                           |                                            |         |         |         |   |       |        |       

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|    |                                                                                                           
|--- | ----------------------------------------------------------------------------------------------------------
|(1) | Average balances of investment securities based on carrying
    value.                                    
|   
|(2) | Loan fees included in interest income for 2003 were $331.                                                 
|   
|(3) | Nonaccrual loans are included in the daily average loan amounts
    outstanding.                          
|   
|(4) | For 2003, income is computed on a fully tax-equivalent basis
    assuming a tax rate of approximately 40%.

Rate/ Volume Analysis of Changes in Interest Income and
Expense:


|                              |                                  |                     |                                    |       |         |       |   |       |       |       |   |       |       |       | 
|----------------------------- | -------------------------------- | ------------------- | ---------------------------------- | ----- | ------- | ----- | - | ----- | ----- | ----- | - | ----- | ----- | ----- | 
|                              |                                  | 2005 vs. 2004       |                                   
|                              |                                  | Increase (Decrease) |                                   
|                              |                                  | Due to Change In:   |                                   
|                              |                                  |                     |                                   
|                              |                                  | Volume(1)           |                                    |       | Rate(1) |       |   | Net   |      
|(Dollars in Thousands)        |                                  |                     |                                    |       |         |       |   |       |      
|Interest-earning assets:      |                                  |                     |                                    |       |         |       |   |       |       |       |   |      
|                              | Loan portfolio:                  |                     |                                    |       |         |       |   |       |       |       |   |       |      
|                              |                                  | Commercial          |                                    | $     | 2,764   |       |   | $     | 3,264 |       |   | $     | 6,028 |      
|                              |                                  | Real estate         |                                    |       | 1,603   |       |   |       | 473   |       |   |       | 2,076 |      
|                              |                                  | Consumer            |                                    |       | 680     |       |   |       | (3    | )     |   |       | 677   |      
|                              |                                  |                     |                                    |       |         |       |   |       |      
|                              |                                  |                     | Net loans                          |       |         | 5,047 |   |       |       | 3,734 |   |       |       | 8,781 | 
|                              | Loans held for sale              |                     |                                    | 51    |         |       |   | 1     |       |       |   | 52    |      
|                              | Securities:                      |                     |                                    |       |         |       |   |       |       |       |   |       |      
|                              |                                  | Taxable             |                                    |       | 63      |       |   |       | 249   |       |   |       | 312   |      
|                              |                                  | Tax exempt          |                                    |       | 9       |       |   |       |      |       |   |       | 9     |      
|                              | Federal funds sold and other     |                     |                                    | 22    |         |       |   | 335   |       |       |   | 357   |      
|                              |                                  |                     |                                    |       |         |       |   |       |      
|                              |                                  |                     | Total interest-earning assets      |       | $       | 5,192 |   |       | $     | 4,319 |   |       | $     | 9,511 | 
|                              |                                  |                     |                                    |       |         |       |   |       |      
|Interest-bearing liabilities: |                                  |                     |                                    |       |         |       |   |       |       |       |   |      
|                              | Savings deposits                 |                     | $                                  | 18    |         |       | $ | 11    |       |       | $ | 29    |      
|                              | Interest-bearing demand deposits |                     |                                    | 158   |         |       |   | 876   |       |       |   | 1,034 |      
|                              | Time deposits                    |                     |                                    | 1,553 |         |       |   | 1,075 |       |       |   | 2,628 |      
|                              | Short-term borrowings            |                     |                                    | 8     |         |       |   | 299   |       |       |   | 307   |      
|                              | Long-term debt                   |                     |                                    | 396   |         |       |   | 48    |       |       |   | 444   |      
|                              |                                  |                     |                                    |       |         |       |   |       |      
|                              |                                  |                     | Total interest-bearing liabilities |       | $       | 2,133 |   |       | $     | 2,309 |   |       | $     | 4,442 | 
|                              |                                  |                     |                                    |       |         |       |   |       |      
|                              |                                  |                     | Net interest income                |       | $       | 3,059 |   |       | $     | 2,010 |   |       | $     | 5,069 | 
|                              |                                  |                     |                                    |       |         |       |   |       |      

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|                              |                                  |                     |                                    |       |         |       |   |      |      |      |   |       |       |       |  
|----------------------------- | -------------------------------- | ------------------- | ---------------------------------- | ----- | ------- | ----- | - | ---- | ---- | ---- | - | ----- | ----- | ----- | -
|                              |                                  | 2004 vs. 2003       |                                   
|                              |                                  | Increase (Decrease) |                                   
|                              |                                  | Due to Change in:   |                                   
|                              |                                  |                     |                                   
|                              |                                  | Volume(1)           |                                    |       | Rate(1) |       |   | Net  |     
|(Dollars in Thousands)        |                                  |                     |                                    |       |         |       |   |      |     
|Interest-earning assets:      |                                  |                     |                                    |       |         |       |   |      |      |      |   |      
|                              | Loan portfolio:                  |                     |                                    |       |         |       |   |      |      |      |   |       |      
|                              |                                  | Commercial          |                                    | $     | 3,938   |       |   | $    | (193 | )    |   | $     | 3,745 |      
|                              |                                  | Real estate         |                                    |       | 1,824   |       |   |      | (249 | )    |   |       | 1,575 |      
|                              |                                  | Consumer            |                                    |       | 540     |       |   |      | (128 | )    |   |       | 412   |      
|                              |                                  |                     |                                    |       |         |       |   |      |     
|                              |                                  |                     | Net loans                          |       |         | 6,302 |   |      |      | (570 | ) |       |       | 5,732 |  
|                              | Loans held for sale              |                     |                                    | (255  | )       |       |   | 72   |      |      |   | (183  | )    
|                              | Securities:                      |                     |                                    |       |         |       |   |      |      |      |   |       |      
|                              |                                  | Taxable             |                                    |       | (150    | )     |   |      | 99   |      |   |       | (51   | )    
|                              |                                  | Tax-exempt          |                                    |       | 2       |       |   |      |     |      |   |       | 2     |      
|                              |                                  |                     |                                    |       |         |       |   |      |     
|                              |                                  |                     | Total securities                   |       |         | (148  | ) |      |      | 99   |   |       |       | (49   | )
|                              | Federal funds sold and other     |                     |                                    | (126  | )       |       |   | 42   |      |      |   | (84   | )    
|                              |                                  |                     |                                    |       |         |       |   |      |     
|                              |                                  |                     | Total interest-earning assets      |       | $       | 5,773 |   |      | $    | (357 | ) |       | $     | 5,416 |  
|                              |                                  |                     |                                    |       |         |       |   |      |     
|Interest-bearing liabilities: |                                  |                     |                                    |       |         |       |   |      |      |      |   |      
|                              | Savings deposits                 |                     | $                                  | 29    |         |       | $ | (9   | )    |      | $ | 20    |      
|                              | Interest-bearing demand deposits |                     |                                    | 210   |         |       |   | 4    |      |      |   | 214   |      
|                              | Time deposits                    |                     |                                    | 1,529 |         |       |   | (380 | )    |      |   | 1,149 |      
|                              | Short-term borrowings            |                     |                                    | (10   | )       |       |   | 48   |      |      |   | 38    |      
|                              | Long-term debt                   |                     |                                    | 121   |         |       |   |     |      |      |   | 121   |      
|                              |                                  |                     |                                    |       |         |       |   |      |     
|                              |                                  |                     | Total interest-bearing liabilities |       | $       | 1,879 |   |      | $    | (337 | ) |       | $     | 1,542 |  
|                              |                                  |                     |                                    |       |         |       |   |      |     
|                              |                                  |                     | Net interest income                |       | $       | 3,894 |   |      | $    | (20  | ) |       | $     | 3,874 |  
|                              |                                  |                     |                                    |       |         |       |   |      |     






|    |                                                                                                                                                                                                     
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(1) | The change in interest due to both rate and volume has been
    allocated to volume and rate changes in proportion to the
    relationship of the absolute dollar amounts of the change in
    each.

Allowance and Provision for Credit Losses






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make-up












|                                          |             |                 |       |     |      |   |       |      |     |   |       |    |    |      |       |    |    |   |       |   |   | 
|----------------------------------------- | ----------- | --------------- | ----- | --- | ---- | - | ----- | ---- | --- | - | ----- | -- | -- | ---- | ----- | -- | -- | - | ----- | - | - | 
|(Dollars in Thousands)                    |             | 2005            |       |     | 2004 |   |       | 2003 |     |   | 2002  |    |    | 2001 |      
|                                          |             |                 |       |     |      |   |       |      |     |   |       |    |    |      |      
|Balance, January 1                        |             | $               | 5,764 |     |      | $ | 3,922 |      |     | $ | 2,060 |    |    | $    | 1,239 |    |    | $ | 564   |  
|Provision                                 |             |                 | 1,301 |     |      |   | 2,065 |      |     |   | 1,879 |    |    |      | 839   |    |    |   | 678   |  
|                                          | Charge-offs |                 |       | 304 |      |   |       | 227  |     |   |       | 17 |    |      |       | 18 |    |   |       | 3 |  
|                                          | Recoveries  |                 |       | 146 |      |   |       | 4    |     |   |       |   |    |      |       |   |    |   |       |  |  
|                                          |             |                 |       |     |      |   |       |      |     |   |       |    |    |      |      
|                                          |             | Net charge-offs |       |     | 158  |   |       |      | 223 |   |       |    | 17 |      |       |    | 18 |   |       |   | 3 | 
|                                          |             |                 |       |     |      |   |       |      |     |   |       |    |    |      |      
|Balance, December 31                      |             | $               | 6,907 |     |      | $ | 5,764 |      |     | $ | 3,922 |    |    | $    | 2,060 |    |    | $ | 1,239 |  
|                                          |             |                 |       |     |      |   |       |      |     |   |       |    |    |      |      
|Ratio of net charge-offs to average loans |             |                 | .04   | %   |      |   | .06   | %    |     |   | .01   | %  |    |      | .01   | %  |    |   |      |  
|                                          |             |                 |       |     |      |   |       |      |     |   |       |    |    |      |      

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|                                                        |                          |       |   |       |       |   |   |       |       |   |      |       |       |      |   |       |       |   |   |       |       |  
|------------------------------------------------------- | ------------------------ | ----- | - | ----- | ----- | - | - | ----- | ----- | - | ---- | ----- | ----- | ---- | - | ----- | ----- | - | - | ----- | ----- | -
|                                                        |                          | 2005  |   |       | 2004  |   |   | 2003  |       |   | 2002 |       |       | 2001 |  
|                                                        |                          |       |   |       |       |   |   |       |       |   |      |       |       |      |  
|(Dollars in Thousands)                                  |                          |      
|Allocation of allowance for loan losses at December 31: |                          |       |   |       |       |   |   |       |       |   |      |       |       |      |   |       |       |   |   |      
|                                                        | Commercial               |       | $ | 5,291 |       |   | $ | 4,217 |       |   | $    | 3,409 |       |      | $ | 1,784 |       |   | $ | 1,084 |      
|                                                        | Real estate              |       |   | 769   |       |   |   | 983   |       |   |      | 252   |       |      |   | 156   |       |   |   | 50    |      
|                                                        | Real estate construction |       |   | 65    |       |   |   | 80    |       |   |      | 15    |       |      |   | 15    |       |   |   | 30    |      
|                                                        | Consumer                 |       |   | 782   |       |   |   | 484   |       |   |      | 246   |       |      |   | 105   |       |   |   | 75    |      
|                                                        |                          |       |   |       |       |   |   |       |       |   |      |       |       |      |  
|                                                        |                          | Total |   | $     | 6,907 |   |   | $     | 5,764 |   |      | $     | 3,922 |      |   | $     | 2,060 |   |   | $     | 1,239 |  
|                                                        |                          |       |   |       |       |   |   |       |       |   |      |       |       |      |  
|Percent of loans to total loans at December 31:         |                          |       |   |       |       |   |   |       |       |   |      |       |       |      |   |       |       |   |   |      
|                                                        | Commercial               |       |   | 66    | %     |   |   | 68    | %     |   |      | 71    | %     |      |   | 69    | %     |   |   | 69    | %    
|                                                        | Real estate              |       |   | 23    |       |   |   | 23    |       |   |      | 19    |       |      |   | 21    |       |   |   | 19    |      
|                                                        | Real estate construction |       |   | 2     |       |   |   | 2     |       |   |      | 2     |       |      |   | 2     |       |   |   | 4     |      
|                                                        | Consumer                 |       |   | 9     |       |   |   | 7     |       |   |      | 8     |       |      |   | 8     |       |   |   | 8     |      
|                                                        |                          |       |   |       |       |   |   |       |       |   |      |       |       |      |  
|                                                        |                          | Total |   |       | 100   | % |   |       | 100   | % |      |       | 100   | %    |   |       | 100   | % |   |       | 100   | %
|                                                        |                          |       |   |       |       |   |   |       |       |   |      |       |       |      |  



|                       |  |      |     |  |      |   |     |      |  |   |      |  |  |      |     |  |  |   |     | 
|---------------------- |  | ---- | --- |  | ---- | - | --- | ---- |  | - | ---- |  |  | ---- | --- |  |  | - | --- | 
|                       |  | 2005 |     |  | 2004 |   |     | 2003 |  |   | 2002 |  |  | 2001 |    
|(Dollars in thousands) |  |      |     |  |      |   |     |      |  |   |      |  |  |      |    
|Balance, January 1     |  | $    | 630 |  |      | $ | 535 |      |  | $ | 315  |  |  | $    | 187 |  |  | $ | 72  | 
|Provision              |  |      | 40  |  |      |   | 95  |      |  |   | 220  |  |  |      | 128 |  |  |   | 115 | 
|                       |  |      |     |  |      |   |     |      |  |   |      |  |  |      |    
|Balance, December 31   |  | $    | 670 |  |      | $ | 630 |      |  | $ | 535  |  |  | $    | 315 |  |  | $ | 187 | 
|                       |  |      |     |  |      |   |     |      |  |   |      |  |  |      |    





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Non-performing assets and past due loans:


|                                                         |             |      |       |    |      |   |       |      |  |   |      |     |  |      |        |    |  |   |   |   | 
|-------------------------------------------------------- | ----------- | ---- | ----- | -- | ---- | - | ----- | ---- |  | - | ---- | --- |  | ---- | ------ | -- |  | - | - | - | 
|                                                         |             | 2005 |       |    | 2004 |   |       | 2003 |  |   | 2002 |     |  | 2001
|(Dollars in Thousands)                                   |             |      |       |    |      |   |       |      |  |   |      |     |  |     
|Nonaccrual loans                                         |             |      |       |    |      |   |       |      |  |   |      |     |  |      |        |    |  |   |   |  
|                                                         | Commercial  |      | $     |    |      |   | $     | 358  |  |   | $    | 455 |  |      | $      |   |  |   | $ |  | 
|                                                         | Real estate |      |       |   |      |   |       |     |  |   |      |    |  |      |        | 14 |  |   |   |  | 
|                                                         | Consumer    |      |       | 72 |      |   |       | 1    |  |   |      | 9   |  |      |        |   |  |   |   |  | 
|                                                         |             |      |       |    |      |   |       |      |  |   |      |     |  |      |       
|Total nonaccrual loans                                   |             |      | 72    |    |      |   | 359   |      |  |   | 464  |     |  |      | 14     |    |  |   |  |  
|Renegotiated loans                                       |             |      |      |    |      |   |      |      |  |   |     |     |  |      |       |    |  |   |  |  
|                                                         |             |      |       |    |      |   |       |      |  |   |      |     |  |      |       
|Total non-performing loans                               |             |      | 72    |    |      |   | 359   |      |  |   | 464  |     |  |      | 14     |    |  |   |  |  
|Other real estate, net                                   |             |      | 204   |    |      |   |      |      |  |   |     |     |  |      |       |    |  |   |  |  
|                                                         |             |      |       |    |      |   |       |      |  |   |      |     |  |      |       
|Total non-performing assets                              |             | $    | 276   |    |      | $ | 359   |      |  | $ | 464  |     |  | $    | 14     |    |  | $ |  |  
|                                                         |             |      |       |    |      |   |       |      |  |   |      |     |  |      |       
|Accruing loans past due 90 days or more                  |             |      |      |    |      |   |      |      |  |   |     |     |  |      |       |    |  |   |  |  
|                                                         |             |      |       |    |      |   |       |      |  |   |      |     |  |      |       
|Non-performing loans as a % of total loans               |             |      | .02   | %  |      |   | .09   | %    |  |   | .16  | %   |  |      | .01    | %  |  |   |  |  
|Allowance for loan losses as a % of non-performing loans |             |      | 9,593 | %  |      |   | 1,681 | %    |  |   | 961  | %   |  |      | 16,964 | %  |  |   |  |  



Non-Interest Income












24



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Non-Interest Expense


















25



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2004 Compared to 2003












Income Taxes




Return on Assets




Return on Equity






26



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Overview of the Statement of Condition








Cash and Cash Equivalents






Investment Securities








Loans




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Loan Maturities:


|                       |          |                   |         |          |         |  |        |        |        |  |        |        |        |  |         |         |         | 
|---------------------- | -------- | ----------------- | ------- | -------- | ------- |  | ------ | ------ | ------ |  | ------ | ------ | ------ |  | ------- | ------- | ------- | 
|                       |          | December 31, 2005 |        
|(Dollars in Thousands) |          |                   |        
|                       |          |                   |         | Due in   |         |  |       
|                       |          |                   |         | One Year |         |  | Due    |        |        | 
|                       |          | Due in            |         |          | Through |  |        | After  |        |  |       
|                       |          | One Year          |         |          | Five    |  |        | Five   |        |  |       
|                       |          | or Less           |         |          | Years   |  |        | Years  |        |  | Total  |       
|                       |          |                   |         |          |         |  |        |        |        |  |        |       
|Loan Type              |          |                  
|Commercial loans:      |          |                   |         |          |         |  |        |        |        |  |        |        |        |  |         |        
|                       | Fixed    |                   | $       | 4,962    |         |  | $      | 11,097 |        |  | $      | 12,982 |        |  | $       | 29,041  |        
|                       | Variable |                   |         | 224,557  |         |  |        | 51,672 |        |  |        |       |        |  |         | 276,229 |        
|                       |          |                   |         |          |         |  |        |        |        |  |        |       
|                       |          |                   | 229,519 |          |         |  | 62,769 |        |        |  | 12,982 |        |        |  | 305,270 |        
|Real estate loans:     |          |                   |         |          |         |  |        |        |        |  |        |        |        |  |         |        
|                       | Fixed    |                   |         | 9,388    |         |  |        | 7,125  |        |  |        | 11,409 |        |  |         | 27,922  |        
|                       | Variable |                   |         | 80,915   |         |  |        | 5,946  |        |  |        | 900    |        |  |         | 87,761  |        
|                       |          |                   |         |          |         |  |        |        |        |  |        |       
|                       |          |                   | 90,303  |          |         |  | 13,071 |        |        |  | 12,309 |        |        |  | 115,683 |        
|Consumer loans:        |          |                   |         |          |         |  |        |        |        |  |        |        |        |  |         |        
|                       | Fixed    |                   |         | 6,652    |         |  |        | 20,162 |        |  |        | 6,340  |        |  |         | 33,154  |        
|                       | Variable |                   |         | 9,378    |         |  |        | 11     |        |  |        |       |        |  |         | 9,389   |        
|                       |          |                   |         |          |         |  |        |        |        |  |        |       
|                       |          |                   | 16,030  |          |         |  | 20,173 |        |        |  | 6,340  |        |        |  | 42,543  |        
|                       |          |                   |         |          |         |  |        |        |        |  |        |       
|                       |          | Total             |         | $        | 335,852 |  |        | $      | 96,013 |  |        | $      | 31,631 |  |         | $       | 463,496 | 
|                       |          |                   |         |          |         |  |        |        |        |  |        |       

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Loan Portfolio Analysis:


|                       |                                        |       |   |         |         |  |   |         |         |  |      |         |         |      |   |         |         |  |   |        |         | 
|---------------------- | -------------------------------------- | ----- | - | ------- | ------- |  | - | ------- | ------- |  | ---- | ------- | ------- | ---- | - | ------- | ------- |  | - | ------ | ------- | 
|                       |                                        | 2005  |   |         | 2004    |  |   | 2003    |         |  | 2002 |         |         | 2001 |  
|(Dollars in Thousands) |                                        |       |   |         |         |  |   |         |         |  |      |         |         |      |  
|Year-end balances:     |                                        |       |   |         |         |  |   |         |         |  |      |         |         |      |   |         |         |  |   |       
|                       | Commercial, financial and agricultural |       | $ | 305,270 |         |  | $ | 269,863 |         |  | $    | 211,688 |         |      | $ | 128,858 |         |  | $ | 81,557 |        
|                       | Real estate                            |       |   | 106,599 |         |  |   | 90,458  |         |  |      | 56,620  |         |      |   | 38,675  |         |  |   | 22,414 |        
|                       | Real estate construction               |       |   | 9,084   |         |  |   | 7,416   |         |  |      | 4,776   |         |      |   | 4,133   |         |  |   | 5,304  |        
|                       | Consumer                               |       |   | 42,543  |         |  |   | 29,177  |         |  |      | 22,841  |         |      |   | 15,071  |         |  |   | 9,390  |        
|                       |                                        |       |   |         |         |  |   |         |         |  |      |         |         |      |  
|                       |                                        | Total |   | $       | 463,496 |  |   | $       | 396,914 |  |      | $       | 295,925 |      |   | $       | 186,737 |  |   | $      | 118,665 | 
|                       |                                        |       |   |         |         |  |   |         |         |  |      |         |         |      |  
|                       | Average total loans                    |       | $ | 432,910 |         |  | $ | 349,837 |         |  | $    | 236,223 |         |      | $ | 149,858 |         |  | $ | 79,863 |        
|                       | Average allowance for loan losses      |       |   | (7,075  | )       |  |   | (5,276  | )       |  |      | (3,298  | )       |      |   | (1,816  | )       |  |   | (1,082 | )      
|                       |                                        |       |   |         |         |  |   |         |         |  |      |         |         |      |  
|                       | Average loans, net of allowance        |       | $ | 425,835 |         |  | $ | 344,561 |         |  | $    | 232,925 |         |      | $ | 148,042 |         |  | $ | 78,781 |        
|                       |                                        |       |   |         |         |  |   |         |         |  |      |         |         |      |  

Loan Concentration




Funding Sources










|                       |       |      |        |         |      |   |        |         |  |   |        |        | 
|---------------------- | ----- | ---- | ------ | ------- | ---- | - | ------ | ------- |  | - | ------ | ------ | 
|                       |       | 2005 |        |         | 2004 |   |        | 2003    | 
|(Dollars in Thousands) |       |      |        |         |      |   |        |         | 
|Under 3 months         |       | $    | 44,062 |         |      | $ | 36,703 |         |  | $ | 36,489 |       
|3 to 12 months         |       |      | 32,469 |         |      |   | 15,691 |         |  |   | 24,540 |       
|Over 12 months         |       |      | 70,699 |         |      |   | 55,874 |         |  |   | 30,545 |       
|                       |       |      |        |         |      |   |        |         | 
|                       | Total |      | $      | 147,230 |      |   | $      | 108,268 |  |   | $      | 91,574 | 
|                       |       |      |        |         |      |   |        |         | 

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Capital/ Stockholders Equity










Liquidity and Interest Rate Sensitivity




Interest Rate Risk




30



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|                     |      |                        |                    |   |       |                    |  |  |      |   |  |   |      |   |  |  |      |  
|-------------------- | ---- | ---------------------- | ------------------ | - | ----- | ------------------ |  |  | ---- | - |  | - | ---- | - |  |  | ---- | -
|                     |      | 2005                   |                    |   | 2004  |                   
|Immediate            |      |                        | Estimated Increase |   |       | Estimated Increase | 
|Interest Rate Change |      |                        | (Decrease) in Net  |   |       | (Decrease) in Net  | 
|(in Basis Points)    |      |                        | Interest Income    |   |       | Interest Income    | 
|                     |      |                        |                    |   |       |                    | 
|                     |      | (Dollars in Thousands) |                   
|                     | 300  |                        |                    | $ | 3,476 |                    |  |  | 14.8 | % |  | $ | 818  |   |  |  | 4.7  | %
|                     | 200  |                        |                    |   | 2,320 |                    |  |  | 9.9  |   |  |   | 549  |   |  |  | 3.1  |  
|                     | 100  |                        |                    |   | 1,167 |                    |  |  | 5.0  |   |  |   | 282  |   |  |  | 1.6  |  
|                     | -100 |                        |                    |   | (972  | )                  |  |  | (4.1 | ) |  |   | (754 | ) |  |  | (4.3 | )

Liquidity




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Contractual Obligations, Commitments, Contingent Liabilities,
and Off-Balance Sheet Arrangements






|                                       |                             |          |        |        |       |  |          |       |  |           |   |   |       |  |   |        |  |  |        |        | 
|-------------------------------------- | --------------------------- | -------- | ------ | ------ | ----- |  | -------- | ----- |  | --------- | - | - | ----- |  | - | ------ |  |  | ------ | ------ | 
|                                       |                             |          |        | One to |       |  | Three to |       |  |           |  
|                                       |                             | One Year |        |        | Three |  |          | Five  |  | Over Five |   |   |      
|                                       |                             | or Less  |        |        | Years |  |          | Years |  | Years     |   |   | Total | 
|(Dollars in Thousands)                 |                             |          |        |        |       |  |          |       |  |           |   |   |       | 
|Commitments to extend credit:          |                             |          |        |        |       |  |          |       |  |           |   |   |       |  |   |        |  |  |        |       
|                                       | Commercial                  |          | $      | 36,748 |       |  | $        | 22    |  |           | $ |  |       |  | $ | 1,584  |  |  | $      | 38,354 | 
|                                       | Residential real estate     |          |        | 34,543 |       |  |          | 101   |  |           |   |  |       |  |   |       |  |  |        | 34,644 | 
|                                       | Revolving home equity lines |          |        |       |       |  |          |      |  |           |   |  |       |  |   | 28,734 |  |  |        | 28,734 | 
|Standby letters of credit              |                             |          | 10,126 |        |       |  |         |       |  |           |  |   |       |  |  |        |  |  | 10,126 |       
|Net commitments to sell mortgage loans |                             |          | 1,507  |        |       |  |         |       |  |           |  |   |       |  |  |        |  |  | 1,507  |       





|                                                             |  |                 |         |        |       |   |          |       |  |   |           |  |  |       |        |  |  |   |         | 
|------------------------------------------------------------ |  | --------------- | ------- | ------ | ----- | - | -------- | ----- |  | - | --------- |  |  | ----- | ------ |  |  | - | ------- | 
|                                                             |  | Payments Due in |         |        |      
|                                                             |  |                 |         |        |      
|                                                             |  |                 |         | One to |       |   | Three to |       |  |   |           | 
|                                                             |  | One Year        |         |        | Three |   |          | Five  |  |   | Over Five |  |  |      
|                                                             |  | or Less         |         |        | Years |   |          | Years |  |   | Years     |  |  | Total |       
|(Dollars in Thousands)                                       |  |                 |         |        |       |   |          |       |  |   |           |  |  |       |       
|Deposits without a stated maturity(a)                        |  | $               | 208,817 |        |       | $ |         |       |  | $ |          |  |  | $     |       |  |  | $ | 208,817 | 
|Consumer certificates of deposits(b)                         |  |                 | 135,283 |        |       |   | 108,296  |       |  |   | 32,136    |  |  |       |       |  |  |   | 275,715 | 
|Federal funds borrowed and security repurchase agreements(b) |  |                 | 18,536  |        |       |   |         |       |  |   |          |  |  |       |       |  |  |   | 18,536  | 
|Long-term debt(b)                                            |  |                 | 679     |        |       |   | 1,358    |       |  |   | 1,358     |  |  |       | 26,108 |  |  |   | 29,503  | 
|Operating leases                                             |  |                 | 628     |        |       |   | 1,162    |       |  |   | 1,158     |  |  |       | 5,168  |  |  |   | 8,116   | 

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|    |                   
|--- | ------------------
|(a) | Excludes interest.



|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                 
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(b) |  | Includes interest on both fixed and variable rate obligations.
    The interest associated with variable rate obligations is based
    upon interest rates in effect at December 31, 2005. The
    contractual amounts to be paid on variable rate obligations are
    affected by changes in market interest rates. Future changes in
    market interest rates could materially affect the contractual
    amounts to be paid.





Fourth Quarter




Future Outlook













|         |                                                               
|-------- | --------------------------------------------------------------
|ITEM 7A. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
    RISK

10-K.







|        |                                            
|------- | -------------------------------------------
|ITEM 8. | FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA



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|        |                                                                                         
|------- | ----------------------------------------------------------------------------------------
|ITEM 9. | CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
    ACCOUNTING AND FINANCIAL DISCLOSURE








|         |                        
|-------- | -----------------------
|ITEM 9A. | CONTROLS AND PROCEDURES










|         |                  
|-------- | -----------------
|ITEM 9B. | OTHER INFORMATION



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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Consolidated Balance Sheets


|                                                                                                                                                      |                      |                                            |         |         |         |   |         |         |         | 
|----------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------- | ------------------------------------------ | ------- | ------- | ------- | - | ------- | ------- | ------- | 
|                                                                                                                                                      |                      | December 31                                |        
|                                                                                                                                                      |                      |                                            |        
|                                                                                                                                                      |                      | 2005                                       |         |         | 2004    |  
|(Dollars in Thousands, except Per Share Data)                                                                                                         |                      |                                            |         |         |         |  
|Assets                                                                                                                                               
|Cash and cash equivalents                                                                                                                             |                      | $                                          | 11,162  |         |         | $ | 9,632   |        
|Interest-bearing deposits in other banks                                                                                                              |                      |                                            | 1,634   |         |         |   | 1,569   |        
|Federal funds sold                                                                                                                                    |                      |                                            | 10,633  |         |         |   | 2,144   |        
|                                                                                                                                                      |                      |                                            |         |         |         |  
|                                                                                                                                                      |                      | Total cash and cash equivalents            |         |         | 23,429  |   |         |         | 13,345  | 
|Available-for-sale securities, at estimated fair value
    (amortized cost of $49,736 in 2005 and $23,449 in 2004)                                    |                      |                                            | 49,748  |         |         |   | 23,386  |        
|Loans                                                                                                                                                 |                      |                                            | 463,496 |         |         |   | 396,914 |        
|Allowance for loan losses                                                                                                                             |                      |                                            | (6,907  | )       |         |   | (5,764  | )      
|                                                                                                                                                      |                      |                                            |         |         |         |  
|                                                                                                                                                      |                      | Net loans                                  |         |         | 456,589 |   |         |         | 391,150 | 
|Premises and equipment                                                                                                                                |                      |                                            | 9,264   |         |         |   | 7,098   |        
|Loans held for sale                                                                                                                                   |                      |                                            | 1,507   |         |         |   | 1,285   |        
|Other assets                                                                                                                                          |                      |                                            | 10,219  |         |         |   | 6,650   |        
|                                                                                                                                                      |                      |                                            |         |         |         |  
|                                                                                                                                                      |                      | Total assets                               |         | $       | 550,756 |   |         | $       | 442,914 | 
|                                                                                                                                                      |                      |                                            |         |         |         |  
|                                                                                                                                                     
|Liabilities                                                                                                                                          
|Deposits:                                                                                                                                             |                      |                                            |         |         |         |   |         |        
|                                                                                                                                                      | Non-interest-bearing |                                            | $       | 63,627  |         |   | $       | 54,559  |        
|                                                                                                                                                      | Interest-bearing     |                                            |         | 420,905 |         |   |         | 331,263 |        
|                                                                                                                                                      |                      |                                            |         |         |         |  
|                                                                                                                                                      |                      | Total deposits                             |         |         | 484,532 |   |         |         | 385,822 | 
|Short-term borrowings                                                                                                                                 |                      |                                            | 18,536  |         |         |   | 14,507  |        
|Long-term debt                                                                                                                                        |                      |                                            | 10,000  |         |         |   | 10,000  |        
|Other liabilities                                                                                                                                     |                      |                                            | 3,815   |         |         |   | 2,840   |        
|                                                                                                                                                      |                      |                                            |         |         |         |  
|                                                                                                                                                      |                      | Total liabilities                          |         |         | 516,883 |   |         |         | 413,169 | 
|Stockholders equity:                                                                                                                                 |                      |                                            |         |         |         |   |         |        
|Preferred stock, $1 par value, 1,000,000 authorized, none
    issued                                                                                  |                      |                                            |        |         |         |   |        |        
|Common stock, $1 par value, 50,000,000 authorized,
    2,817,309 and 2,552,506 issued and outstanding on
    December 31, 2005 and 2004, respectively |                      |                                            | 2,817   |         |         |   | 2,552   |        
|Additional paid-in capital                                                                                                                            |                      |                                            | 25,016  |         |         |   | 25,185  |        
|Accumulated earnings                                                                                                                                  |                      |                                            | 6,033   |         |         |   | 2,046   |        
|Accumulated other comprehensive income (loss)                                                                                                         |                      |                                            | 7       |         |         |   | (38     | )      
|                                                                                                                                                      |                      |                                            |         |         |         |  
|                                                                                                                                                      |                      | Total stockholders equity                 |         |         | 33,873  |   |         |         | 29,745  | 
|                                                                                                                                                      |                      |                                            |         |         |         |  
|                                                                                                                                                      |                      | Total liabilities and stockholders equity |         | $       | 550,756 |   |         | $       | 442,914 | 
|                                                                                                                                                      |                      |                                            |         |         |         |  

See Notes to Consolidated Financial Statements.


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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Consolidated Statements of Income


|                                              |                                     |                                                       |           |        |        |   |           |        |        |   |           |        |        | 
|--------------------------------------------- | ----------------------------------- | ----------------------------------------------------- | --------- | ------ | ------ | - | --------- | ------ | ------ | - | --------- | ------ | ------ | 
|                                              |                                     | Year Ended December 31                                |          
|                                              |                                     |                                                       |          
|                                              |                                     | 2005                                                  |           |        | 2004   |   |           | 2003   |       
|(Dollars in Thousands, except Per Share Data) |                                     |                                                       |           |        |        |   |           |        |       
|Interest income:                              |                                     |                                                       |           |        |        |   |           |        |        |   |           |       
|                                              | Loans, including fees               |                                                       | $         | 28,064 |        |   | $         | 19,280 |        |   | $         | 13,584 |       
|                                              | Loans held for sale                 |                                                       |           | 164    |        |   |           | 112    |        |   |           | 295    |       
|                                              | Securities available-for-sale       |                                                       |           | 781    |        |   |           | 459    |        |   |           | 508    |       
|                                              | Interest-bearing bank balances      |                                                       |           | 96     |        |   |           | 33     |        |   |           | 24     |       
|                                              | Federal funds sold                  |                                                       |           | 425    |        |   |           | 130    |        |   |           | 223    |       
|                                              |                                     |                                                       |           |        |        |   |           |        |       
|                                              |                                     | Total interest income                                 |           |        | 29,530 |   |           |        | 20,014 |   |           |        | 14,634 | 
|Interest expense:                             |                                     |                                                       |           |        |        |   |           |        |        |   |           |       
|                                              | Deposits                            |                                                       |           | 10,300 |        |   |           | 6,609  |        |   |           | 5,226  |       
|                                              | Short-term borrowings               |                                                       |           | 423    |        |   |           | 116    |        |   |           | 78     |       
|                                              | Long-term debt                      |                                                       |           | 565    |        |   |           | 121    |        |   |           |       |       
|                                              |                                     |                                                       |           |        |        |   |           |        |       
|                                              |                                     | Total interest expense                                |           |        | 11,288 |   |           |        | 6,846  |   |           |        | 5,304  | 
|                                              |                                     |                                                       |           |        |        |   |           |        |       
|                                              |                                     | Net interest income                                   |           |        | 18,242 |   |           |        | 13,168 |   |           |        | 9,330  | 
|Provision for credit losses                   |                                     |                                                       | 1,341     |        |        |   | 2,160     |        |        |   | 2,099     |       
|                                              |                                     |                                                       |           |        |        |   |           |        |       
|                                              |                                     | Net interest income after provision for credit losses |           |        | 16,901 |   |           |        | 11,008 |   |           |        | 7,231  | 
|Other income:                                 |                                     |                                                       |           |        |        |   |           |        |        |   |           |       
|                                              | Service charges on deposit accounts |                                                       |           | 903    |        |   |           | 865    |        |   |           | 654    |       
|                                              | Other service charges and fees      |                                                       |           | 898    |        |   |           | 674    |        |   |           | 472    |       
|                                              | Secondary market income             |                                                       |           | 1,002  |        |   |           | 815    |        |   |           | 1,563  |       
|                                              | Security losses                     |                                                       |           | (247   | )      |   |           |       |        |   |           |       |       
|                                              | Other                               |                                                       |           | 332    |        |   |           | 143    |        |   |           | 97     |       
|                                              |                                     |                                                       |           |        |        |   |           |        |       
|                                              |                                     | Total other income                                    |           |        | 2,888  |   |           |        | 2,497  |   |           |        | 2,786  | 
|Other expense:                                |                                     |                                                       |           |        |        |   |           |        |        |   |           |       
|                                              | Salaries and employee benefits      |                                                       |           | 6,247  |        |   |           | 4,759  |        |   |           | 3,908  |       
|                                              | Occupancy expense                   |                                                       |           | 1,379  |        |   |           | 969    |        |   |           | 819    |       
|                                              | Equipment expense                   |                                                       |           | 1,216  |        |   |           | 1,076  |        |   |           | 778    |       
|                                              | Advertising                         |                                                       |           | 855    |        |   |           | 553    |        |   |           | 395    |       
|                                              | Professional fees                   |                                                       |           | 391    |        |   |           | 403    |        |   |           | 212    |       
|                                              | Data processing                     |                                                       |           | 809    |        |   |           | 864    |        |   |           | 621    |       
|                                              | Other                               |                                                       |           | 2,568  |        |   |           | 1,726  |        |   |           | 1,424  |       
|                                              |                                     |                                                       |           |        |        |   |           |        |       
|                                              |                                     | Total other expense                                   |           |        | 13,465 |   |           |        | 10,350 |   |           |        | 8,157  | 
|                                              |                                     |                                                       |           |        |        |   |           |        |       
|                                              |                                     | Net income before income tax expense (benefit)        |           |        | 6,324  |   |           |        | 3,155  |   |           |        | 1,860  | 
|Income tax expense (benefit)                  |                                     |                                                       | 2,337     |        |        |   | 1,151     |        |        |   | (104      | )     
|                                              |                                     |                                                       |           |        |        |   |           |        |       
|                                              |                                     | Net income                                            |           | $      | 3,987  |   |           | $      | 2,004  |   |           | $      | 1,964  | 
|                                              |                                     |                                                       |           |        |        |   |           |        |       
|Basic earnings per share                      |                                     | $                                                     | 1.42      |        |        | $ | .71       |        |        | $ | .70       |       
|Diluted earnings per share                    |                                     | $                                                     | 1.32      |        |        | $ | .68       |        |        | $ | .66       |       
|Basic weighted-average shares outstanding     |                                     |                                                       | 2,809,646 |        |        |   | 2,807,757 |        |        |   | 2,807,757 |       
|Diluted weighted-average shares outstanding   |                                     |                                                       | 3,012,444 |        |        |   | 2,947,206 |        |        |   | 2,967,427 |       

See Notes to Consolidated Financial Statements.


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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Consolidated Statements of Stockholders Equity


|                                                |                             |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |     |   |     |   |        |       |     |  
|----------------------------------------------- | --------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ---------- | ------- | - | ----------- | ----------- | - | ----- | ------------- | ----- | - | ----- | --- | - | --- | - | ------ | ----- | --- | -
|                                                |                             |                                                                                                                                                                        |       |            |         |   |             | Accumulated |   |       |              
|                                                |                             |                                                                                                                                                                        |       | Additional |         |   | Accumulated |             |   | Other |               |       |  
|                                                |                             | Common                                                                                                                                                                 |       |            | Paid-In |   |             | (Deficit)   |   |       | Comprehensive |       |   |      
|                                                |                             | Stock                                                                                                                                                                  |       |            | Capital |   |             | Earnings    |   |       | Income(Loss)  |       |   | Total |    
|(Dollars in Thousands)                          |                             |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |    
|Balance, January 1, 2003                        |                             | $                                                                                                                                                                      | 2,320 |            |         | $ | 25,419      |             |   | $     | (1,922        | )     |   | $     | 54  |   |     | $ | 25,871 |      
|Comprehensive income:                           |                             |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |     |   |     |   |        |      
|                                                | Net income                  |                                                                                                                                                                        |       |           |         |   |             |            |   |       |               | 1,964 |   |       |     |  |     |   |        | 1,964 |    
|                                                | Other comprehensive income: |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |     |   |     |   |        |       |    
|                                                |                             | Unrealized gain on available-for-sale securities, net of income
    taxes                                                                                              |       |            |        |   |             |             |  |       |               |       |  |       |     |   | 3   |   |        |       | 3   |  
|                                                |                             |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |    
|                                                | Total comprehensive income  |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |     |   |     |   |        | 1,967 |    
|                                                |                             |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |    
|Balance, December 31, 2003                      |                             |                                                                                                                                                                        | 2,320 |            |         |   | 25,419      |             |   |       | 42            |       |   |       | 57  |   |     |   | 27,838 |      
|Stock split in the form of a 10% stock dividend |                             |                                                                                                                                                                        | 232   |            |         |   | (234        | )           |   |       |              |       |   |       |    |   |     |   | (2     | )    
|Comprehensive income:                           |                             |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |     |   |     |   |        |      
|                                                | Net income                  |                                                                                                                                                                        |       |           |         |   |             |            |   |       |               | 2,004 |   |       |     |  |     |   |        | 2,004 |    
|                                                | Other comprehensive loss:   |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |     |   |     |   |        |       |    
|                                                |                             | Unrealized loss on available-for-sale securities, net of income
    taxes of $63                                                                                       |       |            |        |   |             |             |  |       |               |       |  |       |     |   | (95 | ) |        |       | (95 | )
|                                                | Total comprehensive income  |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |     |   |     |   |        | 1,909 |    
|                                                |                             |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |    
|Balance, December 31, 2004                      |                             | $                                                                                                                                                                      | 2,552 |            |         | $ | 25,185      |             |   | $     | 2,046         |       |   | $     | (38 | ) |     | $ | 29,745 |      
|Stock split in the form of a 10% stock dividend |                             |                                                                                                                                                                        | 256   |            |         |   | (258        | )           |   |       |              |       |   |       |    |   |     |   | (2     | )    
|Issuance of common stock                        |                             |                                                                                                                                                                        | 9     |            |         |   | 89          |             |   |       |              |       |   |       |    |   |     |   | 98     |      
|Comprehensive income:                           |                             |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |     |   |     |   |        |      
|                                                | Net income                  |                                                                                                                                                                        |       |           |         |   |             |            |   |       |               | 3,987 |   |       |     |  |     |   |        | 3,987 |    
|                                                | Other comprehensive income: |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |     |   |     |   |        |       |    
|                                                |                             | Unrealized gain on available-for-sale securities, net of income
    taxes of $30, and net of reclassification adjustment for losses
    included in net income of $148 |       |            |        |   |             |             |  |       |               |       |  |       |     |   | 45  |   |        |       | 45  |  
|                                                |                             |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |    
|                                                | Total comprehensive income  |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |     |   |     |   |        | 4,032 |    
|                                                |                             |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |    
|Balance, December 31, 2005                      |                             | $                                                                                                                                                                      | 2,817 |            |         | $ | 25,016      |             |   | $     | 6,033         |       |   | $     | 7   |   |     | $ | 33,873 |      
|                                                |                             |                                                                                                                                                                        |       |            |         |   |             |             |   |       |               |       |   |       |    

See Notes to Consolidated Financial Statements.


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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Consolidated Statements of Cash Flows


|                                                                             |                                                                                       |                                                  |                                                  |         |         |         |        |          |         |          |        |          |         |         |  
|---------------------------------------------------------------------------- | ------------------------------------------------------------------------------------- | ------------------------------------------------ | ------------------------------------------------ | ------- | ------- | ------- | ------ | -------- | ------- | -------- | ------ | -------- | ------- | ------- | -
|                                                                             |                                                                                       | Year Ended December 31                           |                                                 
|                                                                             |                                                                                       |                                                  |                                                 
|                                                                             |                                                                                       | 2005                                             |                                                  |         | 2004    |         |        | 2003     |        
|(Dollars in Thousands)                                                       |                                                                                       |                                                  |                                                  |         |         |         |        |          |        
|Operating activities:                                                        |                                                                                       |                                                  |                                                  |         |         |         |        |          |         |          |        |         
|                                                                             | Net income                                                                            |                                                  | $                                                | 3,987   |         |         | $      | 2,004    |         |          | $      | 1,964    |        
|                                                                             | Adjustments to reconcile net income to net cash provided by
    operating activities: |                                                  |                                                  |         |         |         |        |          |         |          |        |          |        
|                                                                             |                                                                                       | Accretion of discounts on securities             |                                                  |         | (27     | )       |        |          | (11     | )        |        |          | (169    | )      
|                                                                             |                                                                                       | Amortization of premiums on securities           |                                                  |         | 18      |         |        |          | 178     |          |        |          | 300     |        
|                                                                             |                                                                                       | Loss on sale of securities                       |                                                  |         | 247     |         |        |          |        |          |        |          |        |        
|                                                                             |                                                                                       | Provision for credit losses                      |                                                  |         | 1,341   |         |        |          | 2,160   |          |        |          | 2,099   |        
|                                                                             |                                                                                       | Deferred income tax (benefit)                    |                                                  |         | (535    | )       |        |          | (816    | )        |        |          | (104    | )      
|                                                                             |                                                                                       | Depreciation                                     |                                                  |         | 1,119   |         |        |          | 761     |          |        |          | 599     |        
|                                                                             |                                                                                       | (Gain)loss on disposal of premises and equipment |                                                  |         | (2      | )       |        |          | 101     |          |        |          |        |        
|                                                                             |                                                                                       | Loans originated for sale                        |                                                  |         | (69,543 | )       |        |          | (57,354 | )        |        |          | (85,828 | )      
|                                                                             |                                                                                       | Proceeds from loans sold                         |                                                  |         | 70,255  |         |        |          | 57,589  |          |        |          | 93,866  |        
|                                                                             |                                                                                       | Gain on sale of loans                            |                                                  |         | (934    | )       |        |          | (764    | )        |        |          | (1,477  | )      
|                                                                             |                                                                                       | Increase (decrease) in other liabilities         |                                                  |         | 975     |         |        |          | (477    | )        |        |          | 1,643   |        
|                                                                             |                                                                                       | Increase in other assets                         |                                                  |         | (1,191  | )       |        |          | (344    | )        |        |          | (1,638  | )      
|                                                                             |                                                                                       |                                                  |                                                  |         |         |         |        |          |        
|                                                                             |                                                                                       |                                                  | Net cash provided by operating activities        |         |         | 5,710   |        |          |         | 3,027    |        |          |         | 11,255  |  
|Investing activities:                                                        |                                                                                       |                                                  |                                                  |         |         |         |        |          |         |          |        |         
|                                                                             | Purchases of premises and equipment                                                   |                                                  |                                                  | (3,319  | )       |         |        | (2,630   | )       |          |        | (2,234   | )      
|                                                                             | Retirement of premises and equipment                                                  |                                                  |                                                  | 36      |         |         |        | 324      |         |          |        |         |        
|                                                                             | Purchases of life insurance                                                           |                                                  |                                                  | (1,873  | )       |         |        | (118     | )       |          |        | (129     | )      
|                                                                             | Purchases of available-for-sale securities                                            |                                                  |                                                  | (46,426 | )       |         |        | (28,087  | )       |          |        | (24,854  | )      
|                                                                             | Sales and maturities of available-for-sale securities                                 |                                                  |                                                  | 19,901  |         |         |        | 27,271   |         |          |        | 39,038   |        
|                                                                             | Net increase in loans made to customers                                               |                                                  |                                                  | (66,780 | )       |         |        | (101,212 | )       |          |        | (109,205 | )      
|                                                                             |                                                                                       |                                                  |                                                  |         |         |         |        |          |        
|                                                                             |                                                                                       |                                                  | Net cash used in investing activities            |         |         | (98,461 | )      |          |         | (104,452 | )      |          |         | (97,384 | )
|Financing activities:                                                        |                                                                                       |                                                  |                                                  |         |         |         |        |          |         |          |        |         
|Net increase in deposits                                                     |                                                                                       |                                                  | 98,710                                           |         |         |         | 83,467 |          |         |          | 87,487 |         
|Net increase (decrease) in securities sold under agreement to
    repurchase |                                                                                       |                                                  | 4,029                                            |         |         |         | (2,446 | )        |         |          | (7,625 | )       
|Proceeds of long-term debt issuance                                          |                                                                                       |                                                  |                                                 |         |         |         | 10,000 |          |         |          |       |         
|Proceeds of stock offering                                                   |                                                                                       |                                                  | 98                                               |         |         |         |       |          |         |          |       |         
|Payments representing fractional shares                                      |                                                                                       |                                                  | (2                                               | )       |         |         | (2     | )        |         |          |       |         
|                                                                             |                                                                                       |                                                  |                                                  |         |         |         |        |          |        
|                                                                             |                                                                                       |                                                  | Net cash provided by financing activities        |         |         | 102,835 |        |          |         | 91,019   |        |          |         | 79,862  |  
|                                                                             |                                                                                       |                                                  |                                                  |         |         |         |        |          |        
|                                                                             |                                                                                       |                                                  | Decrease (increase) in cash and cash equivalents |         |         | 10,084  |        |          |         | (10,406  | )      |          |         | (6,267  | )
|Cash and cash equivalents  beginning of period                              |                                                                                       |                                                  | 13,345                                           |         |         |         | 23,751 |          |         |          | 30,018 |         
|                                                                             |                                                                                       |                                                  |                                                  |         |         |         |        |          |        
|                                                                             |                                                                                       |                                                  | Cash and cash equivalents  end of period        |         | $       | 23,429  |        |          | $       | 13,345   |        |          | $       | 23,751  |  
|                                                                             |                                                                                       |                                                  |                                                  |         |         |         |        |          |        
|Supplemental cash flow information:                                          |                                                                                       |                                                  |                                                  |         |         |         |        |          |         |          |        |         
|                                                                             | Interest paid                                                                         |                                                  | $                                                | 11,061  |         |         | $      | 6,693    |         |          | $      | 5,189    |        
|                                                                             | Income taxes paid                                                                     |                                                  | $                                                | 3,069   |         |         | $      | 2,963    |         |          | $      | 39       |        

See Notes to Consolidated Financial Statements.


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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial Statements


1.     Summary of Significant
Accounting Policies










| |                            
| | ---------------------------
| | Principles of Consolidation





| |                          
| | -------------------------
| | Cash and Cash Equivalents





| |                      
| | ---------------------
| | Investment Securities





| |      
| | -----
| | Loans







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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)








| |                        
| | -----------------------
| | Other Real Estate Owned





| |                            
| | ---------------------------
| | Allowance for Credit Losses









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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)






| |                    
| | -------------------
| | Loans Held for Sale





| |                            
| | ---------------------------
| | Bank Premises and Equipment





| |                    
| | -------------------
| | Advertising Expense





| |             
| | ------------
| | Income Taxes





| |                         
| | ------------------------
| | Stock-Based Compensation



|                                                 |  |                         |       |   |      |   |       |      |  |   |       |  
|------------------------------------------------ |  | ----------------------- | ----- | - | ---- | - | ----- | ---- |  | - | ----- | -
|                                                 |  | Year Ended December 31, |      
|                                                 |  |                         |      
|                                                 |  | 2005                    |       |   | 2004 |   |       | 2003 | 
|                                                 |  |                         |       |   |      |   |       |      | 
|(Dollars in Thousands, except Per Share Data)    |  |                        
|Net income as reported                           |  | $                       | 3,987 |   |      | $ | 2,004 |      |  | $ | 1,964 |  
|Stock-based compensation using fair value method |  |                         | (393  | ) |      |   | (239  | )    |  |   | (400  | )
|                                                 |  |                         |       |   |      |   |       |      | 
|Pro forma net income                             |  | $                       | 3,594 |   |      | $ | 1,765 |      |  | $ | 1,564 |  
|                                                 |  |                         |       |   |      |   |       |      | 
|Basic earnings per share as reported             |  | $                       | 1.42  |   |      | $ | .71   |      |  | $ | .70   |  
|Diluted earnings per share as reported           |  | $                       | 1.32  |   |      | $ | .68   |      |  | $ | .66   |  
|Pro forma basic earnings per share               |  | $                       | 1.28  |   |      | $ | .63   |      |  | $ | .55   |  
|Pro forma diluted earnings per share             |  | $                       | 1.19  |   |      | $ | .60   |      |  | $ | .52   |  





| |                   
| | ------------------
| | Earnings Per Share



41



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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)






| |                                            
| | -------------------------------------------
| | Stock Split in the Form of a Stock Dividend





| |                                 
| | --------------------------------
| | Recent Accounting Pronouncements



| |                                                                                                                               
| | ------------------------------------------------------------------------------------------------------------------------------
| | Financial Accounting Standards Board (FASB)
    Statement No. 123 (revised 2004), Share-Based Payment
    (Statement 123R)

Accounting for Stock-Based Compensation Accounting for Stock
Issued to Employees




| |                                                                        
| | -----------------------------------------------------------------------
| | Staff Accounting Bulletin No. 107,
    Share-Based Payments (SAB 107)





| |                                                                                                       
| | ------------------------------------------------------------------------------------------------------
| | FASB Interpretation No. 47, Accounting for
    Conditional Asset Retirement Obligations
    (FIN 47)

Accounting for Asset
Retirement Obligations.


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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)




| |                                                                                                                                                                                                           
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Financial Accounting Standards Board (FASB)
    Statement No. 154, Accounting Changes and Error
    Corrections  a replacement of APB Opinion No. 20
    and FASB Statement No. 3
    (Statement 154)

Accounting Changes, Reporting Accounting Changes in Interim
Financial Statements.




| |                                                                                                                                                                                     
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | FASB Staff Position No. 106-2, Accounting and
    Disclosure Requirements Related to the Medicare Prescription
    Drug, Improvement and Modernization Act of 2003 (FSP
    106-2)





| |                                                                                                        
| | -------------------------------------------------------------------------------------------------------
| | Proposed FASB Interpretation of FASB Statement
    No. 109  Accounting for Uncertain Tax
    Positions

Accounting for Income Taxes.


2.     Fair Values of Financial
Instruments






| |                          
| | -------------------------
| | Cash and Cash Equivalents





| |                      
| | ---------------------
| | Investment Securities



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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)




| |      
| | -----
| | Loans





| |         
| | --------
| | Deposits





| |                      
| | ---------------------
| | Short-Term Borrowings





| |               
| | --------------
| | Long-Term debt





| |                      
| | ---------------------
| | Financial Instruments





|                       |                           |          |   |         |            |  |   |          |  |  |            |         |  |  |   |         | 
|---------------------- | ------------------------- | -------- | - | ------- | ---------- |  | - | -------- |  |  | ---------- | ------- |  |  | - | ------- | 
|                       |                           | 2005     |   |         | 2004       | 
|                       |                           |          |   |         |            | 
|                       |                           | Carrying |   |         | Estimated  |  |   | Carrying |  |  | Estimated  |        
|                       |                           | Amount   |   |         | Fair Value |  |   | Amount   |  |  | Fair Value |        
|(Dollars in Thousands) |                           |          |   |         |            |  |   |          |  |  |            |        
|Financial assets:      |                           |          |   |         |            |  |   |          |  |  |            |         |  |  |   |        
|                       | Cash and cash equivalents |          | $ | 23,429  |            |  | $ | 23,429   |  |  | $          | 13,345  |  |  | $ | 13,345  | 
|                       | Investment securities     |          |   | 49,748  |            |  |   | 49,748   |  |  |            | 23,386  |  |  |   | 23,386  | 
|                       | Loans                     |          |   | 463,496 |            |  |   | 511,666  |  |  |            | 396,914 |  |  |   | 397,147 | 
|Financial liabilities: |                           |          |   |         |            |  |   |          |  |  |            |         |  |  |   |        
|                       | Deposits                  |          |   | 484,532 |            |  |   | 471,751  |  |  |            | 385,822 |  |  |   | 386,535 | 
|                       | Short-term borrowings     |          |   | 18,536  |            |  |   | 18,536   |  |  |            | 14,507  |  |  |   | 14,507  | 
|                       | Long-term debt            |          |   | 10,000  |            |  |   | 10,000   |  |  |            | 10,000  |  |  |   | 10,000  | 





|   |                      
|-- | ---------------------
|3. | Investment Securities



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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)




|                                                                                          |                                     |                                             |        |        |            |   |       |            |     |           |       |      |      |   |        |        |        | 
|----------------------------------------------------------------------------------------- | ----------------------------------- | ------------------------------------------- | ------ | ------ | ---------- | - | ----- | ---------- | --- | --------- | ----- | ---- | ---- | - | ------ | ------ | ------ | 
|                                                                                          |                                     | Securities Classified as Available-for-Sale |       
|                                                                                          |                                     |                                             |       
|                                                                                          |                                     |                                             |        | Gross  |            |   | Gross |            |     | Estimated |      
|                                                                                          |                                     | Amortized                                   |        |        | Unrealized |   |       | Unrealized |     |           | Fair  |     
|                                                                                          |                                     | Cost                                        |        |        | Gains      |   |       | Losses     |     |           | Value |     
|                                                                                          |                                     |                                             |        |        |            |   |       |            |     |           |       |     
|(Dollars in Thousands)                                                                    |                                     |                                             |        |        |            |   |       |            |     |           |       |      |      |   |        |       
|At December 31, 2005:                                                                     |                                     |                                             |        |        |            |   |       |            |     |           |       |      |      |   |        |       
|U.S. Treasury securities and obligations of
    U.S. government agencies and corporations |                                     | $                                           | 47,390 |        |            | $ |      |            |     | $         | (163  | )    |      | $ | 47,227 |       
|Tax-exempt securities                                                                     |                                     |                                             | 1,099  |        |            |   |      |            |     |           | (2    | )    |      |   | 1,097  |       
|Other securities                                                                          |                                     |                                             | 1,247  |        |            |   | 177   |            |     |           |      |      |      |   | 1,424  |       
|                                                                                          |                                     |                                             |        |        |            |   |       |            |     |           |       |     
|                                                                                          |                                     | Total available-for-sale securities         |        | $      | 49,736     |   |       | $          | 177 |           |       | $    | (165 | ) |        | $      | 49,748 | 
|                                                                                          |                                     |                                             |        |        |            |   |       |            |     |           |       |     
|At December 31, 2004:                                                                     |                                     |                                             |        |        |            |   |       |            |     |           |       |      |      |   |        |       
|U.S. Treasury securities and obligations of
    U.S. government agencies and corporations |                                     | $                                           | 22,522 |        |            | $ |      |            |     | $         | (169  | )    |      | $ | 22,353 |       
|Tax-exempt securities                                                                     |                                     |                                             | 100    |        |            |   | 3     |            |     |           |      |      |      |   | 103    |       
|Other securities                                                                          |                                     |                                             | 827    |        |            |   | 103   |            |     |           |      |      |      |   | 930    |       
|                                                                                          |                                     |                                             |        |        |            |   |       |            |     |           |       |     
|                                                                                          | Total available-for-sale securities |                                             | $      | 23,449 |            |   | $     | 106        |     |           | $     | (169 | )    |   | $      | 23,386 |       
|                                                                                          |                                     |                                             |        |        |            |   |       |            |     |           |       |     

Maturity distribution of available-for-sale securities:


|                       |                      |                        |   |        |            |   |            |            |       |   |   |        |        |  
|---------------------- | -------------------- | ---------------------- | - | ------ | ---------- | - | ---------- | ---------- | ----- | - | - | ------ | ------ | -
|                       |                      | Contractual Maturities |  
|                       |                      |                        |  
|                       |                      | U.S. Treasury          |   |        |           
|                       |                      | Securities and         |   |        |            |   | Total      |           
|                       |                      | Obligations of         |   |        |            |   | Available- |           
|                       |                      | U.S. Government        |   |        | Other      |   |            | for-Sale   |      
|                       |                      | Agencies               |   |        | Securities |   |            | Securities |      
|                       |                      |                        |   |        |            |   |            |            |      
|(Dollars in Thousands) |                      |                        |   |        |            |   |            |            |       |   |   |       
|                      
|December 31, 2005      |                      |                        |   |        |            |   |            |            |       |   |   |       
|                       | Within one year:     |                        |   |        |            |   |            |            |       |   |   |        |       
|                       |                      | Amortized cost         |   | $      | 13,904     |   |            | $          |      |   |   | $      | 13,904 |  
|                       |                      | Fair value             |   | $      | 13,840     |   |            | $          |      |   |   | $      | 13,840 |  
|                       |                      | Yield                  |   |        | 4.11       | % |            |            |      | % |   |        | 4.11   | %
|                       | 1 to 5 years:        |                        |   |        |            |   |            |            |       |   |   |        |       
|                       |                      | Amortized cost         |   | $      | 33,486     |   |            | $          | 279   |   |   | $      | 33,765 |  
|                       |                      | Fair value             |   | $      | 33,388     |   |            | $          | 278   |   |   | $      | 33,666 |  
|                       |                      | Yield                  |   |        | 4.73       | % |            |            | 3.20  | % |   |        | 4.73   | %
|                       | 5 to 10 years:       |                        |   |        |            |   |            |            |       |   |   |        |       
|                       |                      | Amortized cost         |   | $      |           |   |            | $          | 720   |   |   | $      | 720    |  
|                       |                      | Fair value             |   | $      |           |   |            | $          | 720   |   |   | $      | 720    |  
|                       |                      | Yield                  |   |        |           | % |            |            | 4.35  | % |   |        | 4.35   | %
|                       | Over 10 years:       |                        |   |        |            |   |            |            |       |   |   |        |       
|                       |                      | Amortized cost         |   | $      |           |   |            | $          | 1,347 |   |   | $      | 1,347  |  
|                       |                      | Fair value             |   | $      |           |   |            | $          | 1,522 |   |   | $      | 1,522  |  
|                       |                      | Yield                  |   |        |           | % |            |            | 2.58  | % |   |        | 2.58   | %
|                       | Total amortized cost |                        | $ | 47,390 |            |   | $          | 2,346      |       |   | $ | 49,736 |       
|                       | Total fair value     |                        | $ | 47,228 |            |   | $          | 2,520      |       |   | $ | 49,748 |       
|                       | Total yield          |                        |   | 4.55   | %          |   |            | 3.20       | %     |   |   | 4.48   | %     

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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)






|                       |                                       |                     |   |        |                   |  |   |       |   |  |            |        |  |       |   |      |            |  |   |        |  |  |   |      |  
|---------------------- | ------------------------------------- | ------------------- | - | ------ | ----------------- |  | - | ----- | - |  | ---------- | ------ |  | ----- | - | ---- | ---------- |  | - | ------ |  |  | - | ---- | -
|                       |                                       | Less Than 12 Months |   |        | 12 Months or More |  |   | Total |  
|                       |                                       |                     |   |        |                   |  |   |       |  
|                       |                                       | Fair                |   |        | Unrealized        |  |   | Fair  |   |  | Unrealized |        |  | Fair  |   |      | Unrealized | 
|                       |                                       | Value               |   |        | Losses            |  |   | Value |   |  | Losses     |        |  | Value |   |      | Losses     | 
|                       |                                       |                     |   |        |                   |  |   |       |   |  |            |        |  |       |   |      |            | 
|(Dollars in Thousands) |                                       |                     |   |        |                   |  |   |       |   |  |            |        |  |       |   |      |            |  |   |        |  |  |   |     
|                      
|At December 31, 2005:  |                                       |                     |   |        |                   |  |   |       |   |  |            |        |  |       |   |      |            |  |   |        |  |  |   |     
|                       | U.S. government and agency securities |                     | $ | 20,300 |                   |  | $ | (90   | ) |  | $          | 3,927  |  |       | $ | (73  | )          |  | $ | 24,227 |  |  | $ | (163 | )
|                       | Tax-exempt securities                 |                     |   | 377    |                   |  |   | (2    | ) |  |            |       |  |       |   |     |            |  |   | 377    |  |  |   | (2   | )
|                       | Other securities                      |                     |   |       |                   |  |   |      |   |  |            |       |  |       |   |     |            |  |   |       |  |  |   |     |  
|                       |                                       |                     |   |        |                   |  |   |       |   |  |            |        |  |       |   |      |            | 
|                       | Total loans                           |                     | $ | 20,677 |                   |  | $ | (92   | ) |  | $          | 3,927  |  |       | $ | (73  | )          |  | $ | 24,604 |  |  | $ | (165 | )
|                       |                                       |                     |   |        |                   |  |   |       |   |  |            |        |  |       |   |      |            | 
|At December 31, 2004:  |                                       |                     |   |        |                   |  |   |       |   |  |            |        |  |       |   |      |            |  |   |        |  |  |   |     
|                       | U.S. government and agency securities |                     | $ | 1,495  |                   |  | $ | (5    | ) |  | $          | 20,858 |  |       | $ | (164 | )          |  | $ | 22,353 |  |  | $ | (169 | )
|                       | Tax-exempt securities                 |                     |   |       |                   |  |   |      |   |  |            |       |  |       |   |     |            |  |   |       |  |  |   |     |  
|                       | Other securities                      |                     |   |       |                   |  |   |      |   |  |            |       |  |       |   |     |            |  |   |       |  |  |   |     |  
|                       |                                       |                     |   |        |                   |  |   |       |   |  |            |        |  |       |   |      |            | 
|                       | Total loans                           |                     | $ | 1,495  |                   |  | $ | (5    | ) |  | $          | 20,858 |  |       | $ | (164 | )          |  | $ | 22,353 |  |  | $ | (169 | )
|                       |                                       |                     |   |        |                   |  |   |       |   |  |            |        |  |       |   |      |            | 



|   |                                    
|-- | -----------------------------------
|4. | Loans and Allowance for Loan Losses



|                        |             |      |         |         |      |   |         |         | 
|----------------------- | ----------- | ---- | ------- | ------- | ---- | - | ------- | ------- | 
|                        |             | 2005 |         |         | 2004 |  
|                        |             |      |         |         |      |  
|(Dollars in Thousands)  |             |      |         |         |      |   |         |        
|                       
|Commercial              |             | $    | 63,887  |         |      | $ | 58,391  |        
|Real estate, commercial |             |      | 241,384 |         |      |   | 211,472 |        
|Real estate, mortgage   |             |      | 115,683 |         |      |   | 97,874  |        
|Consumer                |             |      | 42,542  |         |      |   | 29,177  |        
|                        |             |      |         |         |      |  
|                        | Total loans |      | $       | 463,496 |      |   | $       | 396,914 | 
|                        |             |      |         |         |      |  

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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)




|                       |             |                 |       |     |      |   |       |      |     |   |       |    |    | 
|---------------------- | ----------- | --------------- | ----- | --- | ---- | - | ----- | ---- | --- | - | ----- | -- | -- | 
|                       |             | 2005            |       |     | 2004 |   |       | 2003 |    
|                       |             |                 |       |     |      |   |       |      |    
|(Dollars in Thousands) |             |                 |       |     |      |   |       |      |     |   |       |   
|                      
|Balance, January 1     |             | $               | 5,764 |     |      | $ | 4,457 |      |     | $ | 2,060 |   
|Provision              |             |                 | 1,301 |     |      |   | 1,530 |      |     |   | 1,879 |   
|                       | Charge-offs |                 |       | 304 |      |   |       | 227  |     |   |       | 17 |   
|                       | Recoveries  |                 |       | 146 |      |   |       | 4    |     |   |       |   |   
|                       |             |                 |       |     |      |   |       |      |    
|                       |             | Net charge-offs |       |     | 158  |   |       |      | 223 |   |       |    | 17 | 
|                       |             |                 |       |     |      |   |       |      |    
|Balance, December 31   |             | $               | 6,907 |     |      | $ | 5,764 |      |     | $ | 3,922 |   
|                       |             |                 |       |     |      |   |       |      |    



|                       |                      |      |     |     |      |   |     |      |  |   |     |     | 
|---------------------- | -------------------- | ---- | --- | --- | ---- | - | --- | ---- |  | - | --- | --- | 
|                       |                      | 2005 |     |     | 2004 |   |     | 2003 | 
|                       |                      |      |     |     |      |   |     |      | 
|(Dollars in Thousands) |                      |      |     |     |      |   |     |      |  |   |     |    
|                      
|Balance, January 1     |                      | $    | 630 |     |      | $ | 535 |      |  | $ | 315 |    
|Provision              |                      |      | 40  |     |      |   | 95  |      |  |   | 220 |    
|                       |                      |      |     |     |      |   |     |      | 
|                       | Balance, December 31 |      | $   | 670 |      |   | $   | 630  |  |   | $   | 535 | 
|                       |                      |      |     |     |      |   |     |      | 









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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)




|                       |                      |      |        |        |      |   |         |        | 
|---------------------- | -------------------- | ---- | ------ | ------ | ---- | - | ------- | ------ | 
|                       |                      | 2005 |        |        | 2004 |  
|                       |                      |      |        |        |      |  
|(Dollars in Thousands) |                      |      |        |        |      |   |         |       
|                      
|Balance, January 1     |                      | $    | 18,357 |        |      | $ | 17,270  |       
|New loans              |                      |      | 8,650  |        |      |   | 12,814  |       
|Repayments             |                      |      | (7,627 | )      |      |   | (11,727 | )     
|                       |                      |      |        |        |      |  
|                       | Balance, December 31 |      | $      | 19,380 |      |   | $       | 18,357 | 
|                       |                      |      |        |        |      |  

5.     Bank Premises and
Equipment




|                                   |                |      |        |       |      |   |        |       | 
|---------------------------------- | -------------- | ---- | ------ | ----- | ---- | - | ------ | ----- | 
|                                   |                | 2005 |        |       | 2004 |  
|                                   |                |      |        |       |      |  
|(Dollars in Thousands)             |                |      |        |       |      |   |        |      
|                                  
|Land                               |                | $    | 2,832  |       |      | $ | 1,799  |      
|Building and premises              |                |      | 3,756  |       |      |   | 1,453  |      
|Leasehold improvements             |                |      | 774    |       |      |   | 1,702  |      
|Furniture, fixtures, and equipment |                |      | 5,148  |       |      |   | 4,306  |      
|                                   |                |      |        |       |      |  
|                                   |                |      | 12,510 |       |      |   | 9,260  |      
|Accumulated depreciation           |                |      | (3,246 | )     |      |   | (2,162 | )    
|                                   |                |      |        |       |      |  
|                                   | Net book value |      | $      | 9,264 |      |   | $      | 7,098 | 
|                                   |                |      |        |       |      |  



|                         |            |                              |   |       |       | 
|------------------------ | ---------- | ---------------------------- | - | ----- | ----- | 
|                         |            | Operating                    |  
|                         |            | Leases                       |  
|                         |            |                              |  
|(Dollars in Thousands)   |            |                              |   |      
|                        
|Year Ending December 31: |            |                              |   |      
|                         | 2006       |                              | $ | 628   |      
|                         | 2007       |                              |   | 581   |      
|                         | 2008       |                              |   | 581   |      
|                         | 2009       |                              |   | 581   |      
|                         | 2010       |                              |   | 577   |      
|                         | Thereafter |                              |   | 4,593 |      
|                         |            |                              |  
|                         |            | Total minimum lease payments |   | $     | 7,541 | 
|                         |            |                              |  





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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)




|   |         
|-- | --------
|6. | Deposits







|   |                      
|-- | ---------------------
|7. | Short-Term Borrowings



|                                |                 |      |        |      |      |   |        |      |   |   |        |      |  
|------------------------------- | --------------- | ---- | ------ | ---- | ---- | - | ------ | ---- | - | - | ------ | ---- | -
|                                |                 | 2005 |        |      | 2004 |   |        | 2003 |  
|(Dollars in Thousands)          |                 |      |        |      |      |   |        |      |  
|Ending balance                  |                 | $    | 18,536 |      |      | $ | 14,507 |      |   | $ | 16,953 |     
|Average balance                 |                 |      | 16,164 |      |      |   | 15,217 |      |   |   | 17,243 |     
|Highest month-end balance       |                 |      | 24,477 |      |      |   | 16,493 |      |   |   | 21,933 |     
|Interest expense                |                 |      | 423    |      |      |   | 116    |      |   |   | 78     |     
|Weighted-average interest rate: |                 |      |        |      |      |   |        |      |   |   |        |     
|                                | End of year     |      |        | 3.44 | %    |   |        | 1.60 | % |   |        | 0.38 | %
|                                | During the year |      |        | 2.62 | %    |   |        | 0.77 | % |   |        | 0.45 | %





|   |               
|-- | --------------
|8. | Long-Term Debt







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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)




|                                   |  |        |        |          |      |  |      |        |          |   |        |  |  |  |      |  
|---------------------------------- |  | ------ | ------ | -------- | ---- |  | ---- | ------ | -------- | - | ------ |  |  |  | ---- | -
|                                   |  | 2005   |        |          | 2004 | 
|                                   |  |        |        |          |      | 
|                                   |  |        |        | Weighted |      |  |      |        | Weighted |  
|                                   |  |        |        | Average  |      |  |      |        | Average  |  
|                                   |  | Amount |        |          | Rate |  |      | Amount |          |   | Rate   | 
|(Dollars in Thousands)             |  |        |        |          |      |  |      |        |          |   |        | 
|Centra Financial Statutory Trust 1 |  | $      | 10,000 |          |      |  | 5.65 | %      |          | $ | 10,000 |  |  |  | 4.31 | %





|   |             
|-- | ------------
|9. | Income Taxes





|                                    |                               |                           |      |      |      |   |      |      |      |   |      |       |      |   
|----------------------------------- | ----------------------------- | ------------------------- | ---- | ---- | ---- | - | ---- | ---- | ---- | - | ---- | ----- | ---- | --
|                                    |                               | 2005                      |      |      | 2004 |   |      | 2003 |     
|                                    |                               |                           |      |      |      |   |      |      |     
|Statutory corporate tax rate        |                               |                           | 34.0 | %    |      |   | 34.0 | %    |      |   | 34.0 | %    
|Differences in rate resulting from: |                               |                           |      |      |      |   |      |      |      |   |      |      
|                                    | State income taxes            |                           |      | 4.0  |      |   |      | 4.3  |      |   |      | 3.5   |     
|                                    | Other                         |                           |      | (1.0 | )    |   |      | (1.8 | )    |   |      | (2.4  | )   
|                                    | Change in valuation allowance |                           |      |     |      |   |      |     |      |   |      | (40.6 | )   
|                                    |                               |                           |      |      |      |   |      |      |     
|                                    |                               | Effective income tax rate |      |      | 37.0 | % |      |      | 36.5 | % |      |       | (5.5 | )%
|                                    |                               |                           |      |      |      |   |      |      |     



|                       |                              |      |     |       |      |  |     |       |   |  |     |        |  
|---------------------- | ---------------------------- | ---- | --- | ----- | ---- |  | --- | ----- | - |  | --- | ------ | -
|                       |                              | 2005 |     |       | 2004 |  |     | 2003  |  
|                       |                              |      |     |       |      |  |     |       |  
|(Dollars in Thousands) |                              |      |     |       |      |  |     |       |   |  |     |       
|                      
|Federal:               |                              |      |     |       |      |  |     |       |   |  |     |       
|                       | Current                      |      | $   | 2,408 |      |  | $   | 1,656 |   |  | $   | 1,274  |  
|                       | Deferred                     |      |     | (455  | )    |  |     | (708  | ) |  |     | (1,507 | )
|State                  |                              |      | 384 |       |      |  | 203 |       |   |  | 129 |       
|                       |                              |      |     |       |      |  |     |       |  
|                       | Income tax expense (benefit) |      | $   | 2,337 |      |  | $   | 1,151 |   |  | $   | (104   | )
|                       |                              |      |     |       |      |  |     |       |  

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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)




|                          |                                            |                          |       |       |       |   |       |       |       | 
|------------------------- | ------------------------------------------ | ------------------------ | ----- | ----- | ----- | - | ----- | ----- | ----- | 
|                          |                                            | 2005                     |       |       | 2004  |  
|                          |                                            |                          |       |       |       |  
|(Dollars in Thousands)    |                                            |                          |       |       |       |   |       |      
|                         
|Deferred tax assets:      |                                            |                          |       |       |       |   |       |      
|                          | Allowance for loan losses                  |                          | $     | 2,974 |       |   | $     | 2,495 |      
|                          | Available-for-sale securities              |                          |       |      |       |   |       | 25    |      
|                          | Supplemental retirement plan               |                          |       | 207   |       |   |       | 163   |      
|                          | FAS 91 loan fees                           |                          |       | 88    |       |   |       | 41    |      
|                          |                                            |                          |       |       |       |  
|                          |                                            | Deferred tax assets      |       |       | 3,269 |   |       |       | 2,724 | 
|Deferred tax liabilities: |                                            |                          |       |       |       |   |       |      
|                          | Premises and equipment                     |                          |       | 413   |       |   |       | 422   |      
|                          | Available-for-sale securities              |                          |       | 5     |       |   |       |      |      
|                          | Accretion on available-for-sale securities |                          |       | 11    |       |   |       |      |      
|                          |                                            |                          |       |       |       |  
|                          |                                            | Deferred tax liabilities |       |       | 429   |   |       |       | 422   | 
|                          |                                            |                          |       |       |       |  
|Net deferred tax assets   |                                            | $                        | 2,840 |       |       | $ | 2,302 |      
|                          |                                            |                          |       |       |       |  



|    |                                                  
|--- | -------------------------------------------------
|10. | Financial Instruments with Off-Balance Sheet Risk



Loan Commitments and Standby Letters of Credit






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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)




|    |               
|--- | --------------
|11. | Other Expenses



|                        |  |      |     |  |      |   |     |      |  |   |     | 
|----------------------- |  | ---- | --- |  | ---- | - | --- | ---- |  | - | --- | 
|                        |  | 2005 |     |  | 2004 |   |     | 2003 | 
|                        |  |      |     |  |      |   |     |      | 
|(Dollars in Thousands)  |  |      |     |  |      |   |     |      |  |   |     | 
|                       
|Stationery and supplies |  | $    | 307 |  |      | $ | 203 |      |  | $ | 178 | 
|Outside services        |  |      | 448 |  |      |   | 303 |      |  |   | 233 | 
|Taxes not on income     |  |      | 359 |  |      |   | 308 |      |  |   | 293 | 



|    |                   
|--- | ------------------
|12. | Regulatory Matters











|                        |                  |        |   |             |          |  |            |                  |   |                  |       |        |  |        |  |   |       |  |   |        |  |  |  |    |  
|----------------------- | ---------------- | ------ | - | ----------- | -------- |  | ---------- | ---------------- | - | ---------------- | ----- | ------ |  | ------ |  | - | ----- |  | - | ------ |  |  |  | -- | -
|                        |                  |        |   |             |          |  |            |                  |   | Well Capitalized |      
|                        |                  |        |   |             |          |  |            | Under Prompt     |  
|                        |                  |        |   | For Capital |          |  | Corrective |                 
|                        |                  | Actual |   |             | Adequacy |  |            | Action Provision |  
|                        |                  |        |   |             |          |  |            |                  |  
|                        |                  | Amount |   |             | Ratio    |  |            | Amount           |   |                  | Ratio |        |  | Amount |  |   | Ratio | 
|(Dollars in Thousands)  |                  |        |   |             |          |  |            |                  |   |                  |       |        |  |        |  |   |       | 
|As of December 31, 2005 |                  |        |   |             |          |  |            |                  |   |                  |       |        |  |        |  |   |       |  |   |        |  |  |  |   
|                        | Total capital(1) |        | $ | 49,212      |          |  |            | 11.6             | % |                  | $     | 33,998 |  |        |  | 8 | %     |  | $ | 42,497 |  |  |  | 10 | %
|                        | Tier 1(2)        |        |   | 33,866      |          |  |            | 10.8             |   |                  |       | 12,497 |  |        |  | 4 |       |  |   | 18,745 |  |  |  | 6  |  
|                        | Tier 1(3)        |        |   | 33,866      |          |  |            | 8.8              |   |                  |       | 15,429 |  |        |  | 4 |       |  |   | 19,286 |  |  |  | 5  |  
|As of December 31, 2004 |                  |        |   |             |          |  |            |                  |   |                  |       |        |  |        |  |   |       |  |   |        |  |  |  |   
|                        | Total capital(1) |        | $ | 44,326      |          |  |            | 12.1             | % |                  | $     | 29,331 |  |        |  | 8 | %     |  | $ | 36,663 |  |  |  | 10 | %
|                        | Tier 1(2)        |        |   | 29,783      |          |  |            | 10.8             |   |                  |       | 10,990 |  |        |  | 4 |       |  |   | 16,485 |  |  |  | 6  |  
|                        | Tier 1(3)        |        |   | 29,783      |          |  |            | 8.8              |   |                  |       | 13,569 |  |        |  | 4 |       |  |   | 16,961 |  |  |  | 5  |  

52



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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)







|    |                                                                           
|--- | --------------------------------------------------------------------------
|(1) | Ratio represents total risk-based capital to net risk-weighted
    assets.
|   
|(2) | Ratio represents Tier 1 capital to net risk-weighted assets.              
|   
|(3) | Ratio represents Tier 1 capital to average assets.                        



|    |                             
|--- | ----------------------------
|13. | Federal Reserve Requirements





|    |                       
|--- | ----------------------
|14. | Employee Benefit Plans







|    |              
|--- | -------------
|15. | Stock Options



53



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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)




|                                                               |  |        |         |           |          |   |       |        |           |  |          |  |  |           |      |  |          |  |         |  |  |   |       | 
|-------------------------------------------------------------- |  | ------ | ------- | --------- | -------- | - | ----- | ------ | --------- |  | -------- |  |  | --------- | ---- |  | -------- |  | ------- |  |  | - | ----- | 
|                                                               |  | 2005   |         |           | 2004     |   |       | 2003   |          
|                                                               |  |        |         |           |          |   |       |        |          
|                                                               |  |        |         | Weighted- |          |   |       |        | Weighted- |  |          |  |  | Weighted- |     
|                                                               |  | Number |         |           | Average  |   |       | Number |           |  | Average  |  |  | Number    |      |  | Average  | 
|                                                               |  | of     |         |           | Exercise |   |       | of     |           |  | Exercise |  |  | of        |      |  | Exercise | 
|                                                               |  | Shares |         |           | Price    |   |       | Shares |           |  | Price    |  |  | Shares    |      |  | Price    | 
|                                                               |  |        |         |           |          |   |       |        |           |  |          |  |  |           |      |  |          | 
|Outstanding at beginning of year                               |  |        | 728,178 |           |          | $ | 9.90  |        |           |  | 728,299  |  |  | $         | 9.90 |  |          |  | 580,255 |  |  | $ | 9.16  | 
|Granted                                                        |  |        | 201,615 |           |          |   | 12.82 |        |           |  |         |  |  |           |     |  |          |  | 148,225 |  |  |   | 12.81 | 
|Exercised                                                      |  |        | 9,460   |           |          |   | 11.13 |        |           |  |         |  |  |           |     |  |          |  |        |  |  |   |      | 
|Forfeited                                                      |  |        | 605     |           |          |   | 11.36 |        |           |  | 121      |  |  |           | 8.26 |  |          |  | 181     |  |  |   | 8.29  | 
|                                                               |  |        |         |           |          |   |       |        |           |  |          |  |  |           |      |  |          | 
|Outstanding at end of year                                     |  |        | 919,728 |           |          | $ | 10.53 |        |           |  | 728,178  |  |  | $         | 9.90 |  |          |  | 728,299 |  |  | $ | 9.90  | 
|                                                               |  |        |         |           |          |   |       |        |           |  |          |  |  |           |      |  |          | 
|Exercisable at end of year                                     |  |        | 761,465 |           |          | $ | 10.07 |        |           |  | 605,001  |  |  | $         | 9.53 |  |          |  | 489,596 |  |  | $ | 9.40  | 
|                                                               |  |        |         |           |          |   |       |        |           |  |          |  |  |           |      |  |          | 
|Weighted-average fair value of options granted during the year |  |        |         |           |          | $ | 3.25  |        |           |  |          |  |  | $         |     |  |          |  |         |  |  | $ | 3.26  | 
|                                                               |  |        |         |           |          |   |       |        |           |  |          |  |  |           |      |  |          | 





|               |  |                     |         |           |                     |  |             |          |  |   |             |           |  |          |         |  |  |   |       | 
|-------------- |  | ------------------- | ------- | --------- | ------------------- |  | ----------- | -------- |  | - | ----------- | --------- |  | -------- | ------- |  |  | - | ----- | 
|               |  | Options Outstanding |         |           | Options Exercisable | 
|               |  |                     |         |           |                     | 
|               |  |                     |         | Weighted- |                     |  |             |          | 
|               |  |                     |         | Average   |                     |  | Weighted-   |          |  |   |             | Weighted- | 
|               |  |                     |         | Remaining |                     |  | Average     |          |  |   |             | Average   | 
|               |  | Options             |         |           | Contractual         |  |             | Exercise |  |   | Number      |           |  | Exercise |        
|Exercise Price |  | Outstanding         |         |           | Life                |  |             | Price    |  |   | Exercisable |           |  | Price    |        
|               |  |                     |         |           |                     |  |             |          |  |   |             |           |  |          |        
|$ 8.26         |  |                     | 317,966 |           |                     |  | 4.33  years |          |  | $ | 8.26        |           |  |          | 317,966 |  |  | $ | 8.26  | 
|$ 9.09         |  |                     | 35,332  |           |                     |  | 5.00  years |          |  | $ | 9.09        |           |  |          | 35,332  |  |  | $ | 9.09  | 
|$10.33         |  |                     | 204,492 |           |                     |  | 5.67  years |          |  | $ | 10.33       |           |  |          | 204,492 |  |  | $ | 10.33 | 
|$12.40         |  |                     | 15,125  |           |                     |  | 6.70  years |          |  | $ | 12.40       |           |  |          | 11,343  |  |  | $ | 12.40 | 
|$12.81         |  |                     | 346,813 |           |                     |  | 8.56  years |          |  | $ | 12.81       |           |  |          | 192,332 |  |  | $ | 12.81 | 
|               |  |                     |         |           |                     |  |             |          |  |   |             |           |  |          |        
|               |  |                     | 919,728 |           |                     |  |             |          |  |   |             |           |  |          | 761,465 |  |  |   |       | 
|               |  |                     |         |           |                     |  |             |          |  |   |             |           |  |          |        

54



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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)




|    |                                          
|--- | -----------------------------------------
|16. | Parent Company Only Financial Information



| |                        
| | -----------------------
| | Condensed Balance Sheet

|                                           |                                                                                                              |                            |        |        |        |   |        |        |        | 
|------------------------------------------ | ------------------------------------------------------------------------------------------------------------ | -------------------------- | ------ | ------ | ------ | - | ------ | ------ | ------ | 
|                                           |                                                                                                              | December 31                |       
|                                           |                                                                                                              |                            |       
|                                           |                                                                                                              | 2005                       |        |        | 2004   |  
|(Dollars in Thousands)                     |                                                                                                              |                            |        |        |        |  
|Assets:                                    |                                                                                                              |                            |        |        |        |   |        |       
|                                           | Due from banks                                                                                               |                            | $      | 35     |        |   | $      | 425    |       
|                                           | Available-for-sale securities, at estimated fair value
    (amortized cost of $640 in 2005 and $150 in 2004) |                            |        | 817    |        |   |        | 253    |       
|                                           | Investment in Second Tier Bank Holding Companies                                                             |                            |        | 42,992 |        |   |        | 39,075 |       
|                                           |                                                                                                              |                            |        |        |        |  
|                                           |                                                                                                              | Total assets               |        | $      | 43,844 |   |        | $      | 39,753 | 
|                                           |                                                                                                              |                            |        |        |        |  
|Liabilities:                               |                                                                                                              |                            |        |        |        |   |        |       
|                                           | Long-term debt                                                                                               |                            | $      | 10,000 |        |   | $      | 10,000 |       
|                                           | Other liabilities                                                                                            |                            |        | (29    | )      |   |        | 8      |       
|                                           |                                                                                                              |                            |        |        |        |  
|                                           |                                                                                                              | Total liabilities          |        |        | 9,971  |   |        |        | 10,008 | 
|Stockholders equity:                      |                                                                                                              |                            |        |        |        |   |        |       
|                                           | Preferred stock, $1 par value, 1,000,000 authorized, none
    issued                                         |                            |        |       |        |   |        |       |       
|                                           | Common stock, $1 par value, 50,000,000 authorized,
    2,817,309 and 2,552,506 issued and outstanding on     |                            |        |        |        |   |        |        |       
|                                           | December 31, 2005 and 2004, respectively                                                                     |                            |        | 2,817  |        |   |        | 2,552  |       
|                                           | Additional paid-in capital                                                                                   |                            |        | 25,016 |        |   |        | 25,185 |       
|                                           | Accumulated earnings                                                                                         |                            |        | 6,033  |        |   |        | 2,046  |       
|                                           | Accumulated other comprehensive income loss)                                                                 |                            |        | 7      |        |   |        | (38    | )     
|                                           |                                                                                                              |                            |        |        |        |  
|                                           |                                                                                                              | Total stockholders equity |        |        | 33,873 |   |        |        | 29,745 | 
|                                           |                                                                                                              |                            |        |        |        |  
|Total liabilities and stockholders equity |                                                                                                              | $                          | 43,844 |        |        | $ | 39,753 |       
|                                           |                                                                                                              |                            |        |        |        |  

Consolidated Statement of Income


|                                               |                                                                                                  |                          |       |       |      |   |       |       |   |   |       |       |   | 
|---------------------------------------------- | ------------------------------------------------------------------------------------------------ | ------------------------ | ----- | ----- | ---- | - | ----- | ----- | - | - | ----- | ----- | - | 
|                                               |                                                                                                  | Year Ended December 31   |      
|                                               |                                                                                                  |                          |      
|                                               |                                                                                                  | 2005                     |       |       | 2004 |   |       | 2003  |  
|(Dollars in Thousands)                         |                                                                                                  |                          |       |       |      |   |       |       |  
|Income  dividends from bank subsidiary        |                                                                                                  | $                        | 500   |       |      | $ | 550   |       |   | $ |      |      
|                                               |                                                                                                  |  interest and dividends |       |       | 9    |   |       |       | 5 |   |       |       | 5 | 
|Total expense                                  |                                                                                                  |                          | 567   |       |      |   | 124   |       |   |   |      |      
|                                               |                                                                                                  |                          |       |       |      |   |       |       |  
|                                               | Loss (income) before federal income tax and equity in
    undistributed earnings of subsidiaries |                          |       | (58   | )    |   |       | 431   |   |   |       | 5     |  
|Applicable income tax benefit                  |                                                                                                  |                          | (225  | )     |      |   | (42   | )     |   |   |      |      
|Equity in undistributed income of subsidiaries |                                                                                                  |                          | 3,820 |       |      |   | 1,531 |       |   |   | 1,959 |      
|                                               |                                                                                                  |                          |       |       |      |   |       |       |  
|                                               | Net income                                                                                       |                          | $     | 3,987 |      |   | $     | 2,004 |   |   | $     | 1,964 |  
|                                               |                                                                                                  |                          |       |       |      |   |       |       |  

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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)


Statement of Cash Flows


|                                               |                                                       |                                           |       |        |      |   |       |         |     |   |       |        |    |  
|---------------------------------------------- | ----------------------------------------------------- | ----------------------------------------- | ----- | ------ | ---- | - | ----- | ------- | --- | - | ----- | ------ | -- | -
|                                               |                                                       | Year Ended December 31                    |      
|                                               |                                                       |                                           |      
|                                               |                                                       | 2005                                      |       |        | 2004 |   |       | 2003    |    
|(Dollars in Thousands)                         |                                                       |                                           |       |        |      |   |       |         |    
|Operating activities:                          |                                                       |                                           |       |        |      |   |       |         |     |   |       |       
|Net income                                     |                                                       | $                                         | 3,987 |        |      | $ | 2,004 |         |     | $ | 1,964 |       
|                                               | Decrease in accrued expenses                          |                                           |       | (89    | )    |   |       | (24     | )   |   |       | (7     | ) 
|                                               | Equity in undistributed (income) loss of subsidiaries |                                           |       | (3,820 | )    |   |       | (1,531  | )   |   |       | (1,959 | ) 
|                                               |                                                       |                                           |       |        |      |   |       |         |    
|                                               |                                                       | Net cash provided by (used in) operations |       |        | 78   |   |       |         | 449 |   |       |        | (2 | )
|Investing activities:                          |                                                       |                                           |       |        |      |   |       |         |     |   |       |       
|                                               | Purchases of available-for-sale securities            |                                           |       | (564   | )    |   |       | (47     | )   |   |       |       |   
|                                               |                                                       |                                           |       |        |      |   |       |         |    
|                                               |                                                       | Net cash used in investing activities     |       |        | (564 | ) |       |         | (47 | ) |       |        |   |  
|Financing activities:                          |                                                       |                                           |       |        |      |   |       |         |     |   |       |       
|                                               | Proceeds of long-term debt issuance                   |                                           |       |       |      |   |       | 10,000  |     |   |       |       |   
|                                               | Proceeds of stock offering                            |                                           |       | 98     |      |   |       |        |     |   |       |       |   
|                                               | Distribution of fractional shares                     |                                           |       | (2     | )    |   |       | (2      | )   |   |       |       |   
|                                               | Investment in subsidiaries                            |                                           |       |       |      |   |       | (10,000 | )   |   |       |       |   
|                                               |                                                       |                                           |       |        |      |   |       |         |    
|                                               |                                                       | Net cash used in financing activities     |       |        | 96   |   |       |         | (2  | ) |       |        |   |  
|                                               |                                                       |                                           |       |        |      |   |       |         |    
|                                               |                                                       | Net change in cash                        |       |        | (390 | ) |       |         | 400 |   |       |        | (2 | )
|Cash and cash equivalents at beginning of year |                                                       |                                           | 425   |        |      |   | 25    |         |     |   | 27    |       
|                                               |                                                       |                                           |       |        |      |   |       |         |    
|                                               |                                                       | Cash and cash equivalents at end of year  |       | $      | 35   |   |       | $       | 425 |   |       | $      | 25 |  
|                                               |                                                       |                                           |       |        |      |   |       |         |    

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CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES


Notes to the Consolidated Financial
Statements  (continued)




|    |                                             
|--- | --------------------------------------------
|17. | Summarized Quarterly Information (Unaudited)



|                                              |                                             |         |   |           |         |  |   |           |  |  |         |           |   |  |   |           |  
|--------------------------------------------- | ------------------------------------------- | ------- | - | --------- | ------- |  | - | --------- |  |  | ------- | --------- | - |  | - | --------- | -
|                                              |                                             | First   |   |           | Second  |  |   | Third     |  |  | Fourth  |          
|                                              |                                             | Quarter |   |           | Quarter |  |   | Quarter   |  |  | Quarter |          
|(Dollars in Thousands, except Per Share Data) |                                             |         |   |           |         |  |   |           |  |  |         |          
|2005:                                         |                                             |         |   |           |         |  |   |           |  |  |         |           |   |  |   |          
|                                              | Interest income                             |         | $ | 6,242     |         |  | $ | 6,964     |  |  | $       | 7,620     |   |  | $ | 8,704     |  
|                                              | Interest expense                            |         |   | 2,183     |         |  |   | 2,551     |  |  |         | 2,952     |   |  |   | 3,602     |  
|                                              | Net interest income                         |         |   | 4,059     |         |  |   | 4,413     |  |  |         | 4,668     |   |  |   | 5,102     |  
|                                              | Provision for credit losses                 |         |   | 437       |         |  |   | 447       |  |  |         | 117       |   |  |   | 340       |  
|                                              | Other income                                |         |   | 639       |         |  |   | 749       |  |  |         | 916       |   |  |   | 831       |  
|                                              | Loss on sale of securities                  |         |   |          |         |  |   |          |  |  |         | (79       | ) |  |   | (168      | )
|                                              | Other expenses                              |         |   | 2,936     |         |  |   | 3,135     |  |  |         | 3,706     |   |  |   | 3,688     |  
|                                              | Income tax expense                          |         |   | 489       |         |  |   | 591       |  |  |         | 622       |   |  |   | 635       |  
|                                              | Net income                                  |         |   | 836       |         |  |   | 989       |  |  |         | 1,060     |   |  |   | 1,102     |  
|                                              | Basic earnings per share                    |         | $ | 0.30      |         |  | $ | 0.35      |  |  | $       | 0.38      |   |  | $ | 0.39      |  
|                                              | Diluted earnings per share                  |         | $ | 0.28      |         |  | $ | 0.33      |  |  | $       | 0.35      |   |  | $ | 0.36      |  
|                                              | Basic weighted average shares outstanding   |         |   | 2,807,757 |         |  |   | 2,808,455 |  |  |         | 2,809,572 |   |  |   | 2,812,746 |  
|                                              | Diluted weighted average shares outstanding |         |   | 2,955,745 |         |  |   | 3,023,774 |  |  |         | 3,033,889 |   |  |   | 3,036,316 |  
|2004:                                         |                                             |         |   |           |         |  |   |           |  |  |         |           |   |  |   |          
|                                              | Interest income                             |         | $ | 4,310     |         |  | $ | 4,629     |  |  | $       | 5,190     |   |  | $ | 5,885     |  
|                                              | Interest expense                            |         |   | 1,522     |         |  |   | 1,582     |  |  |         | 1,745     |   |  |   | 1,997     |  
|                                              | Net interest income                         |         |   | 2,788     |         |  |   | 3,047     |  |  |         | 3,445     |   |  |   | 3,888     |  
|                                              | Provision for credit losses                 |         |   | 365       |         |  |   | 563       |  |  |         | 635       |   |  |   | 597       |  
|                                              | Other income                                |         |   | 507       |         |  |   | 665       |  |  |         | 627       |   |  |   | 698       |  
|                                              | Other expenses                              |         |   | 2,370     |         |  |   | 2,523     |  |  |         | 2,579     |   |  |   | 2,878     |  
|                                              | Income tax expense                          |         |   | 199       |         |  |   | 223       |  |  |         | 308       |   |  |   | 421       |  
|                                              | Net income                                  |         |   | 361       |         |  |   | 403       |  |  |         | 550       |   |  |   | 690       |  
|                                              | Basic earnings per share                    |         | $ | 0.13      |         |  | $ | 0.14      |  |  | $       | 0.20      |   |  | $ | 0.25      |  
|                                              | Diluted earnings per share                  |         | $ | 0.12      |         |  | $ | 0.14      |  |  | $       | 0.19      |   |  | $ | 0.23      |  
|                                              | Basic weighted average shares outstanding   |         |   | 2,807,757 |         |  |   | 2,807,757 |  |  |         | 2,807,757 |   |  |   | 2,807,757 |  
|                                              | Diluted weighted average shares outstanding |         |   | 2,947,343 |         |  |   | 2,947,300 |  |  |         | 2,947,300 |   |  |   | 2,947,194 |  



|    |                  
|--- | -----------------
|18. | Subsequent Events



57



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##### Table of Contents



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM












| |                      
| | ---------------------
| | -s- ERNST & YOUNG LLP





58



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##### Table of Contents






PART III







|         |                                                   
|-------- | --------------------------------------------------
|ITEM 10. | DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT












|         |                       
|-------- | ----------------------
|ITEM 11. | EXECUTIVE COMPENSATION










|         |                                                                                                   
|-------- | --------------------------------------------------------------------------------------------------
|ITEM 12. | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
    MANAGEMENT AND RELATED STOCKHOLDER MATTERS








|         |                                               
|-------- | ----------------------------------------------
|ITEM 13. | CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS








|         |                                       
|-------- | --------------------------------------
|ITEM 14. | PRINCIPAL ACCOUNTING FEES AND SERVICES



59



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##### Table of Contents






PART IV







|         |                                           
|-------- | ------------------------------------------
|ITEM 15. | EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

(a)(1) Financial Statements:




|                                                                                                                                                                 |  |      |    | 
|---------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ---- | -- | 
|                                                                                                                                                                 |  | Page |   
|                                                                                                                                                                 |  |      |   
|Consolidated Balance Sheets as of December 31, 2005 and 2004                                                                                                     |  |      | 35 | 
|Consolidated Statements of Income for the years ended
    December 31, 2005, 2004, and 2003                                                                      |  |      | 36 | 
|Consolidated Statements of Stockholders Equity for the
    years ended December 31, 2005, 2004, and 2003                                                        |  |      | 37 | 
|Consolidated Statements of Cash Flows for the years ended
    December 31, 2005, 2004, and 2003                                                                  |  |      | 38 | 
|Notes to the Consolidated Financial Statements                                                                                                                   |  |      | 39 | 
|Report of Independent Registered Public Accounting Firm
    (Ernst & Young LLP)                                                                                  |  |      | 58 | 
|Centra Financial Holdings Inc.: (Parent Company Only Financial
    Statements are included in Note 16 of the Notes to the
    Consolidated Financial Statements) |  |      |    | 

(a)(2) Financial Statement Schedules




| |                                                                                                                                                                                                                                                
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | All schedules for which provision is made in the applicable
    accounting regulations of the Securities and Exchange Commission
    are not required under the related instructions or are
    inapplicable and, therefore, have been omitted.

(a)(3) Exhibits




| |                                                                                                                                                                                                                                                                                                                      
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Exhibits filed with this Annual Report on
    Form 10-K are
    attached hereto. For a list of such exhibits, see
    Exhibit Index beginning at page 63. The
    Exhibit Index specifically identifies each management
    contract or compensatory plan required to be filed as an exhibit
    to this Form 10-K.



|    |         
|--- | --------
|(b) | Exhibits



| |                                                                                                                                                       
| | ------------------------------------------------------------------------------------------------------------------------------------------------------
| | Exhibits filed with Annual Report on
    Form 10-K are
    attached hereto. For a list of such exhibits, see
    Exhibit Index beginning at page 63.



|    |                              
|--- | -----------------------------
|(c) | Financial Statement Schedules



| |      
| | -----
| | None.

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SIGNATURES






| |                                
| | -------------------------------
| | CENTRA FINANCIAL HOLDINGS, INC.



| |     |                     
| | --- | --------------------
| | By: | /s/ Douglas J. Leech

| |                                      
| | -------------------------------------
| |                                      
| | Douglas J. Leech,                    
| | President and Chief Executive Officer





| |     |                    
| | --- | -------------------
| | By: | /s/ Kevin D. Lemley

| |                                
| | -------------------------------
| |                                
| | Kevin D. Lemley,               
| | SVP-CFO Principal Financial and
| | Accounting Officer             





|                                         |  |                                                    |  |                |  | 
|---------------------------------------- |  | -------------------------------------------------- |  | -------------- |  | 
|Signatures                               |  | Title                                              |  | Date          
|                                         |  |                                                    |  |               
|                                        
|/s/ Douglas J. LeechDouglas J. Leech     |  | President and Chief Executive Officer and Director |  | March 16, 2006
|                                        
|/s/ James W. DaileyJames W. Dailey II    |  | Director                                           |  | March 16, 2006
|                                        
|/s/ Arthur GabrielArthur Gabriel         |  | Director                                           |  | March 16, 2006
|                                        
|/s/ Robert A. McMillanRobert A. McMillan |  | Director                                           |  | March 16, 2006
|                                        
|/s/ Mark R. NesselroadMark R. Nesselroad |  | Director                                           |  | March 16, 2006
|                                        
|/s/ Parry G. PetroplusParry G. Petroplus |  | Director                                           |  | March 16, 2006

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|                                           |  |          |  |                |  | 
|------------------------------------------ |  | -------- |  | -------------- |  | 
|Signatures                                 |  | Title    |  | Date          
|                                           |  |          |  |               
|                                          
|/s/ Milan PuskarMilan Puskar               |  | Director |  | March 16, 2006
|                                          
|/s/ Paul T. SwansonPaul T. Swanson         |  | Director |  | March 16, 2006
|                                          
|/s/ Bernard G. WestfallBernard G. Westfall |  | Director |  | March 16, 2006

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##### Table of Contents



CENTRA FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES ANNUAL
REPORT ON
FORM 10-K


for Fiscal Year Ended December 31, 2005





EXHIBIT INDEX


|        |  |                                                                                                                                 |  |                                                                                                                                    
|------- |  | ------------------------------------------------------------------------------------------------------------------------------- |  | -----------------------------------------------------------------------------------------------------------------------------------
|Exhibit |  |                                                                                                                                 |  |                                                                                                                                    
|Number  |  | Description                                                                                                                     |  | Exhibit Location                                                                                                                   
|        |  |                                                                                                                                 |  |                                                                                                                                    
|3.1     |  | Articles of Incorporation                                                                                                       |  | Form S-4 Registration Statement, Registration No.
    333-36186, filed December 23, 1999, and incorporated by
    reference herein.
|3.2     |  | Bylaws                                                                                                                          |  | Form S-4 Registration Statement, Registration No.
    333-36186, filed December 23, 1999, and incorporated by
    reference herein.
|3.2a    |  | Bylaws, as amended                                                                                                              |  | Form 10-K for the year ended December 31, 2004, and
    incorporated by reference herein.                                          
|4.1     |  | Shareholder Protection Rights Agreement                                                                                         |  | Form S-4 Registration Statement, Registration No.
    333-36186, filed December 23, 1999, and incorporated by
    reference herein.
|10.1    |  | Centra Financial Holdings, Inc. 1999 Stock Incentive Plan dated
    as of April 27, 2000                                        |  | Form 10-KSB for the year ended December 31, 2000, and
    incorporated by reference herein.                                        
|10.2    |  | Employment Agreement of Douglas J. Leech dated March 16,
    2000                                                               |  | Form 10-KSB for the year ended December 31, 2000, and
    incorporated by reference herein.                                        
|10.3    |  | Lease agreement with Platinum Plaza, Inc.                                                                                       |  | Form S-4 Registration Statement, Registration No.
    333-36186, filed December 23, 1999, and incorporated by
    reference herein.
|10.4    |  | Lease agreement with Frank and Teresa Fargo for premises
    occupied by the Williamsport Pike office                           |  | Form 10-KSB for the year ended December 31, 2001, and
    incorporated by reference herein.                                        
|10.5    |  | Lease agreement with Columbus, LLC for premises occupied by the
    450 Foxcroft Avenue office                                  |  | Form 10-KSB for the year ended December 31, 2001, and
    incorporated by reference herein.                                        
|10.6    |  | Lease agreement with Van Wyk Enterprises, Inc. for premises
    occupied by the 300 Foxcroft Avenue office                      |  | Form 10-KSB for the year ended December 31, 2001, and
    incorporated by reference herein.                                        
|10.7    |  | Lease agreement with Union Properties for unimproved real estate
    at the corner of West Virginia Route 857 and Venture Drive |  | Form 10-KSB for the year ended December 31, 2002, and
    incorporated by reference herein.                                        
|10.8    |  | Employment and Change-of-Control Agreement with Kevin D. Lemley                                                                 |  | Form 10-KSB for the year ended December 31, 2003, and
    incorporated by reference herein.                                        
|10.9    |  | Employment and Change-of-Control Agreement with Timothy P. Saab                                                                 |  | Form 10-KSB for the year ended December 31, 2003, and
    incorporated by reference herein.                                        
|10.10   |  | Employment and Change-of-Control Agreement with E. Richard
    Hilleary                                                         |  | Form 10-KSB for the year ended December 31, 2003, and
    incorporated by reference herein.                                        
|10.11   |  | Employment and Change-of-Control Agreement with Henry M.
    Kayes, Jr.                                                         |  | Form 10-KSB for the year ended December 31, 2003, and
    incorporated by reference herein.                                        

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|        |  |                                                                                                        |  |                                                                                          
|------- |  | ------------------------------------------------------------------------------------------------------ |  | -----------------------------------------------------------------------------------------
|Exhibit |  |                                                                                                        |  |                                                                                          
|Number  |  | Description                                                                                            |  | Exhibit Location                                                                         
|        |  |                                                                                                        |  |                                                                                          
|10.12   |  | Indenture with Centra Financial Holdings, Inc. as Issuer and
    Wilmington Trust Company as Trustee   |  | Form 10-K for the year ended December 31, 2004, and
    incorporated by reference herein.
|10.13   |  | Floating Rate Junior Subordinated Deferrable Interest Debenture                                        |  | Form 10-K for the year ended December 31, 2004, and
    incorporated by reference herein.
|10.14   |  | Guarantee Agreement by and between Centra Financial Holdings,
    Inc. and Wilmington Trust Company    |  | Form 10-K for the year ended December 31, 2004, and
    incorporated by reference herein.
|10.15   |  | Deferred compensation plan for directors                                                               |  | Filed herewith.                                                                          
|10.16   |  | Employment and Change-of-Control Agreement with Karla J.
    Strosnider                                |  | Filed herewith.                                                                          
|10.17   |  | Employment and Change-of-Control Agreement with John T. Fahey                                          |  | Filed herewith.                                                                          
|10.18   |  | Stock Purchase Agreement with shareholders of Smithfield State
    Bank                                |  | Form 8-K filed March 16, 2006, and incorporated by
    reference herein.                 
|12      |  | Statement Re: Computation of Ratios                                                                    |  | Filed herewith.                                                                          
|14      |  | Code of Ethics                                                                                         |  | Form 10-K for the year ended December 31, 2004, and
    incorporated by reference herein.
|21      |  | Subsidiaries of Registrant                                                                             |  | Filed herewith.                                                                          
|23      |  | Consent of Independent Registered Public Accounting Firm                                               |  | Filed herewith.                                                                          
|31.1    |  | Certification of Principal Executive Officer Pursuant to
    Section 302 of Sarbanes-Oxley Act of 2002 |  | Filed herewith.                                                                          
|31.2    |  | Certification of Principal Financial Officer Pursuant to
    Section 302 of Sarbanes-Oxley Act of 2002 |  | Filed herewith.                                                                          
|32.1    |  | Certification of Principal Executive Officer Pursuant to
    Section 906 of Sarbanes-Oxley Act of 2002 |  | Filed herewith.                                                                          
|32.2    |  | Certification of Principal Financial Officer Pursuant to
    Section 906 of Sarbanes-Oxley Act of 2002 |  | Filed herewith.                                                                          
|99.1    |  | Proxy Statement for the 2006 Annual Meeting                                                            |  | To be filed.                                                                             
|99.2    |  | Report of Ernst & Young LLP, Independent Registered
    Public Accounting Firm                         |  | Found on Page 49 herein.                                                                 

64