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<title>Form 8-K</title>


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<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:justify;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin-bottom:.0001pt;text-autospace:none;font-family:"Times New Roman","serif";color:windowtext;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>UNITED STATES</b></p>

<p style='margin-bottom:.0001pt;text-autospace:none;font-family:"Times New Roman","serif";color:windowtext;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style='margin-bottom:.0001pt;text-autospace:none;font-family:"Times New Roman","serif";color:windowtext;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>WASHINGTON, D.C. 20549</b></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'><b>&nbsp;</b></p>

<p style='margin-bottom:.0001pt;text-autospace:none;font-family:"Times New Roman","serif";color:windowtext;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="4">FORM 8-K</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'><b>&nbsp;</b></p>

<p style='margin-bottom:.0001pt;text-autospace:none;font-family:"Times New Roman","serif";color:windowtext;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>CURRENT REPORT</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>

<p style='margin-bottom:.0001pt;text-autospace:none;font-family:"Times New Roman","serif";color:windowtext;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>Pursuant to Section&nbsp;13 or 15 (d)&nbsp;of The
Securities Exchange Act of 1934</b></p>

<p style='margin-bottom:.0001pt;text-autospace:none;font-family:"Times New Roman","serif";color:windowtext;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>&nbsp;</b></p>

<p style='margin-bottom:.0001pt;text-autospace:none;font-family:"Times New Roman","serif";color:windowtext;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>Date of Report (Date of earliest event reported) October 1,
2014 </p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>

<p style='margin-bottom:.0001pt;text-autospace:none;font-family:"Times New Roman","serif";color:windowtext;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="6">FIRST CITIZENS BANCSHARES, INC.</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>(Exact name of registrant as specified in its charter)</p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="100%">
 <tr>
  <td width="30%" valign=bottom style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width="5%" valign=bottom style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width="30%" valign=bottom style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width="5%" valign=bottom style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width="30%" valign=bottom style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="30%" valign=top style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>Tennessee</p>
  </td>
  <td width="5%" valign=bottom style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width="30%" valign=top style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>000-11709</p>
  </td>
  <td width="5%" valign=bottom style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width="30%" valign=top style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>62-1180360</p>
  </td>
 </tr>
 <tr>
  <td width="30%" valign=top style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>(State or other jurisdiction</p>
  </td>
  <td width="5%" valign=bottom style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width="30%" valign=top style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>(Commission File Number)</p>
  </td>
  <td width="5%" valign=bottom style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width="30%" valign=top style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>(I.R.S. Employer</p>
  </td>
 </tr>
 <tr>
  <td width="30%" valign=top style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>of incorporation)</p>
  </td>
  <td width="5%" valign=bottom style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width="30%" valign=top style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>
  </td>
  <td width="5%" valign=bottom style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width="30%" valign=top style='padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>Identification No.)</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'><font style="font-size: 12.0pt">&nbsp;</font></p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="100%">
 <tr>
  <td width=216 valign=top style='width:45%;padding-left:0in; padding-right:.7pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;color:windowtext;text-align:center'>&nbsp;</p>
  <p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman,serif";color:windowtext;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>One First
  Citizens Place </p>
  </td>
  <td width=504 colspan=2 valign=top style='width:5.25in;padding:0in .7pt 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;color:windowtext;text-align:center'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=216 valign=top style='width:45%;padding-left:0in; padding-right:.7pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman,serif";color:windowtext;text-align:center;line-height:
  11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Dyersburg,
  Tennessee</p>
  </td>
  <td width=288 valign=top style='width:3.0in;padding:0in .7pt 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;color:windowtext;text-align:center;line-height:
  11.0pt'>&nbsp;</p>
  </td>
  <td width=216 valign=top style='width:45%;padding-left:0in; padding-right:.7pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman,serif";color:windowtext;text-align:center;line-height:
  11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>38024</p>
  </td>
 </tr>
 <tr>
  <td width=216 valign=top style='width:45%;padding-left:0in; padding-right:.7pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman,serif";color:windowtext;text-align:center;line-height:
  11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>(Address
  of principal executive offices)</p>
  </td>
  <td width=288 valign=top style='width:3.0in;padding:0in .7pt 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;color:windowtext;text-align:center;line-height:
  11.0pt'>&nbsp;</p>
  </td>
  <td width=216 valign=top style='width:45%;padding-left:0in; padding-right:.7pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman,serif";color:windowtext;text-align:center;line-height:
  11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>(Zip
  Code)</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>(731)&nbsp;285-4410</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>(Registrant&#146;s telephone number, including area code)</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation
of the registrant under any of the following provisions:</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>
<font face="Wingdings">&#168; </font>Written communications pursuant to Rule&nbsp;425 under the
Securities Act (17 CFR 230.425)</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>
<font face="Wingdings">&#168; </font>Soliciting material pursuant to Rule&nbsp;14a-12 under the
Exchange Act (17 CFR 240.14a-12)</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>
<font face="Wingdings">&#168; </font>Pre-commencement communications pursuant to
Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>
<font face="Wingdings">&#168; </font>Pre-commencement communications pursuant to
Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>
<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:8.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>

<font face="Times New Roman,serif">
<hr>
<p style="page-break-before:always">&nbsp;</p>
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<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:justify;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman,serif";color:black;margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">Item
1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Entry into a Material Definitive Agreement.</font></b></p>

<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman,serif";color:black;margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman,serif";color:black;margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
October 1, 2014, First Citizens Bancshares, Inc. (the &#147;Company&#148;) entered into a
Loan Agreement, Pledge and Security Agreement, Promissory Note (Fixed Rate) and
Promissory Note (Floating Rate) (collectively, the &#147;Loan Documents&#148;) with First
Tennessee Bank, National Association (the &#147;Lender&#148;), pursuant to which the
Lender has agreed to extend to &nbsp;the Company two five-year term loans in the
aggregate maximum principal amount of $12,000,000 (the &#147;Credit Facilities&#148;).
The Loan Documents provide that the Credit Facilities will be repaid in
quarterly installments of principal and interest based on a ten-year
amortization schedule at a rate of interest as follows:</font></p>

<ul>
	<li>
	<p style='margin-right:0in;font-family:"Times New Roman,serif";color:black;margin-top:0in;margin-right:0in;margin-bottom:0in;margin-bottom:.0001pt;'>
	<font size="2">the $6,000,000 five-year fixed rate loan
will accrue interest at a fixed rate of 3.76%; and</font></p></li>
	<li>
	<p style='margin-right:0in;font-family:"Times New Roman,serif";color:black;margin-top:0in;margin-right:0in;margin-bottom:0in;margin-bottom:.0001pt;'>
	<font size="2">the $6,000,000 five-year floating rate
loan will accrue interest at the 90 day rounded LIBOR plus 2%.</font></p></li>
</ul>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>The Credit Facilities are secured by a pledge of 51% of the stock of
First Citizens National Bank, the Company&#146;s wholly owned subsidiary. The Loan Documents also contain a number of affirmative and negative
covenants, including limitations on the incurrence of additional debt, liens on
property, guarantees, mergers, consolidations, liquidations and dissolutions,
asset sales, dividends and other payments in respect of our capital stock, relocation
of the Company&#146;s principal office, principal banking office, or principal
registered office, and transactions with affiliates. The Company is using the
proceeds of the Credit Facilities to finance a part of the cash portion of the
merger consideration payable to shareholders of Southern Heritage Bancshares,
Inc. as described below.</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-top:12.0pt;text-autospace:ideograph-numeric ideograph-other'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
foregoing description of the Loan Documents is not complete and is qualified in
its entirety by reference to the Loan Agreement, Pledge and Security Agreement,
Promissory Note (Fixed Rate) and Promissory Note (Floating Rate), which are
attached to this report as Exhibits 10.1, 10.2, 10.3 and 10.4, respectively,
and are incorporated herein by reference. </p>

<p style='margin-right:0in;margin-left:0in;font-size:9.0pt;font-family:"Arial","sans-serif";color:black;margin:0in;margin-bottom:.0001pt'>&nbsp;</p>

<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman,serif";color:black;margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">Item
2.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Completion of Acquisition or Disposition
of Assets.</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On October 1, 2014, the Company issued a
press release, which is attached hereto as Exhibit 99.1 and incorporated herein
by reference, announcing that on October 1, 2014, the Company completed its previously
announced acquisition of Southern Heritage Bancshares, Inc. (&#147;Southern
Heritage&#148;) pursuant to the terms of the Agreement and Plan of Merger dated as
of March 20, 2014, as amended (the &#147;Merger Agreement&#148;). In accordance with the
Merger Agreement, Southern Heritage merged with and into the Company, with the
Company continuing as the surviving corporation (the &#147;Merger&#148;). As a result of
the Merger, Southern Heritage&#146;s wholly owned subsidiary, Southern Heritage Bank
(the &#147;Bank&#148;), became a wholly owned subsidiary of the Company.</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of December 31, 2013, Southern Heritage
had total assets of approximately $237 million and shareholders&#146; equity of
approximately $30 million. The Bank is a full service commercial bank with
three locations in Cleveland, Bradley County, Tennessee, and had total loans of
approximately $139 million and deposits of approximately $206 million as of
December 31, 2013.</p>

<p style='margin-bottom:.0001pt;text-autospace:none;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Following the closing of the Merger, all outstanding shares of Southern Heritage
stock were converted into the right to receive an aggregate of (i)
$16,085,903.75 in cash and (ii) 269,302 shares of Company common stock and
108,356 shares of Company Class A common stock, depending on the class of
Southern Heritage stock held and subject to adjustment as set forth in the
Merger Agreement. Southern Heritage shareholders who hold Southern Heritage
common stock will receive Company common stock and Southern Heritage
shareholders who hold Southern Heritage Class A common stock, Southern Heritage
Class B common stock or Southern Heritage Series A preferred stock will receive
Company Class
A common stock.</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each share of Southern Heritage stock issued and outstanding immediately prior
to the effective time of the Merger was, subject to the election procedures and
adjustments described in the Merger Agreement, converted into the right to
receive (i) $12.25 in cash, plus (ii) 0.2876 of a share of Company stock. In
lieu of the issuance of any fractional shares of Company stock, the Company will
pay to each former Southern Heritage shareholder who would otherwise be entitled
to receive any fractional shares an amount in cash determined by multiplying (i)
$42.60 by (ii) the fraction of a share of Company common stock to which such holder would otherwise be entitled to
receive.</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
foregoing description of the Merger and the Merger Agreement does not purport
to be complete and is qualified in its entirety by reference to the Merger
Agreement, which is filed as Exhibit 2.1 to this report and is incorporated
herein by reference.</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-indent:.5in;text-autospace:ideograph-numeric ideograph-other'>&nbsp;</p>

<table border="0" width="100%">
	<tr>
		<td valign="top" width="94"><b><font size="2">Item 5.02</font></b></td>
		<td valign="top">

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>
<b>Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.</b></p>
		</td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On October 1, 2014, the Company issued a press release, which is attached hereto
as Exhibit 99.1 and incorporated herein by reference, announcing that pursuant
to the terms of the Merger Agreement, on October 1, 2014, effective immediately
following the effective time of the Merger, J. Lee Stewart, Southern Heritage&#146;s
former President and Chief Executive Officer, was appointed to the Company&#146;s
Board of Directors. Mr. Stewart has not yet been appointed to any committees of
the Board. In addition to the stay-pay or retention bonus payment made to Mr.
Stewart pursuant to the Merger Agreement, Mr. Stewart is a party to an
Employment Agreement with the Company that provides for an initial annual base
salary of $180,000, annual performance-based cash incentives and certain
additional incentives. The foregoing description of Mr. Stewart&#146;s Employment
Agreement does not purport to be complete and is qualified in its entirety by
reference to the Employment Agreement, which is filed as Exhibit 10.5 to this
report and is incorporated herein by reference.</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:8.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>

&nbsp;</div>
<font face="Times New Roman,serif">
<hr>
<p style="page-break-before:always">&nbsp;</p>
</font>


<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'><b>Item
7.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regulation FD Disclosure.</b></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
October 1, 2014, the Company issued a press release regarding its acquisition
of Southern Heritage.&nbsp;&nbsp;The press release is furnished hereto as
Exhibit 99.1 and incorporated herein by reference.</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-indent:.5in;text-autospace:ideograph-numeric ideograph-other'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'><b>Item
9.01<font style="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font>Financial Statements and Exhibits.</b></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>(d)&nbsp;Exhibits</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:ideograph-numeric ideograph-other'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="100%">
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:left; margin-left:0in; margin-right:0in; margin-top:0in'>
	Exhibit 2.1</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Agreement and Plan of Merger, dated as of March 20, 2014,
  by and between First Citizens Bancshares, Inc. and Southern Heritage
  Bancshares, Inc., as amended. (a)</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="left">
  <p style='margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:0in; margin-right:0in; margin-top:0in'>
	Exhibit 10.1</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Loan Agreement, dated as of October 1, 2014, by and
  between First Citizens Bancshares, Inc. and First Tennessee Bank, National
  Association.</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="left">
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="left">
  <p style='margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:0in; margin-right:0in; margin-top:0in'>
	Exhibit 10.2</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Pledge and Security Agreement, dated as of October 1,
  2014, by and between First Citizens Bancshares, Inc. and First Tennessee Bank,
  National Association.</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="left">
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="left">
  <p style='margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:0in; margin-right:0in; margin-top:0in'>
	Exhibit 10.3</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Promissory Note (Fixed Rate), dated as of October 1, 2014,
  by and between First Citizens Bancshares, Inc. and First Tennessee Bank,
  National Association.</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="left">
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="left">
  <p style='margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:0in; margin-right:0in; margin-top:0in'>
	Exhibit 10.4</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Promissory Note (Floating Rate), dated as of October 1,
  2014, by and between First Citizens Bancshares, Inc. and First Tennessee Bank,
  National Association.</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="left">
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="left">
  <p style='margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:0in; margin-right:0in; margin-top:0in'>
	Exhibit 10.5</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Employment Agreement by and between First Citizens
  Bancshares, Inc. and Lee Stewart dated July 16, 2014. (b)</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="left">
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="left">
  <p style='margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:0in; margin-right:0in; margin-top:0in'>
	Exhibit 99.1</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Press Release dated October 1, 2014.</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<table border="0" width="100%">
	<tr>
		<td valign="top"><font size="2">(a)</font></td>
		<td width="1817" valign="top">

<p style='margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:
ideograph-numeric ideograph-other; margin-right:0in; margin-top:0in'>Incorporated by reference to
Annex A to the Proxy Statement/Prospectus included in First Citizens
Bancshares, Inc.&#146;s registration statement on Form S-4/A filed on August 21,
2014 (File No. 333-197512).</p>

		</td>
	</tr>
	<tr>
		<td valign="top">&nbsp;</td>
		<td width="1817" valign="top">

<p style='margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext; margin-right:0in; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td valign="top"><font size="2">(b)</font></td>
		<td width="1817" valign="top">

<p style='margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:
ideograph-numeric ideograph-other; margin-right:0in; margin-top:0in'>Incorporated by reference to Exhibit
10.7 to First Citizens Bancshares, Inc.&#146;s registration statement on Form S-4
filed on July 18, 2014 (File No. 333-197512).</p></td>
	</tr>
	<tr>
		<td valign="top">&nbsp;</td>
		<td width="1817" valign="top">
		<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:.5in;text-indent:-.5in;text-autospace:
ideograph-numeric ideograph-other'>&nbsp;</p></td>
	</tr>
	<tr>
		<td>&nbsp;</td>
		<td width="1817">
		<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:.5in;text-indent:-.5in;text-autospace:
ideograph-numeric ideograph-other'>&nbsp;</p></td>
	</tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:.5in;text-indent:-.5in;text-autospace:
ideograph-numeric ideograph-other'><font style="font-size: 12.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:8.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>

&nbsp;</div>
<font face="Times New Roman,serif">
<hr>
<p style="page-break-before:always">&nbsp;</p>
</font>


<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:justify;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'><b>SIGNATURE</b></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</p>
<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="100%">
 <tr>
  <td width=336 style='width:252.25pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=27 style='width:20.4pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=7 style='width:5.3pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=244 style='width:183.3pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=105 style='width:78.6pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=336 valign=top style='width:252.25pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=279 colspan=3 style='width:209.1pt;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;text-autospace:none;font-family:"Times New Roman","serif";color:windowtext; margin-left:0in; margin-right:0in; margin-top:0in'>
	<b><font size="2">FIRST CITIZENS BANCSHARES, INC.</font></b></p>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=105 style='width:78.6pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=336 style='width:252.25pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Date: October 1, 2014&nbsp;</p>
  </td>
  <td width=27 valign=top style='width:20.4pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>By:&nbsp;&nbsp;</p>
  </td>
  <td width=252 colspan=2 style='width:188.65pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>/s/ Laura Beth Butler</p>
  </td>
  <td width=105 style='width:78.6pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=336 style='width:252.25pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=27 style='width:20.4pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=252 colspan=2 style='width:188.65pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Laura Beth Butler</p>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Executive Vice President and
  Chief Financial Officer&nbsp;</p>
  </td>
  <td width=105 style='width:78.6pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=336 style='width:252.25pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=27 style='width:20.4pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
	<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
	<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
	<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
	<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
	<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
	<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
	<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
	<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
	<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=252 colspan=2 style='width:188.65pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=105 style='width:78.6pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
</table>

<div style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>

<font face="Times New Roman,serif">
<hr>
<p style="page-break-before:always">&nbsp;</p>
</font>


</div>


<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:justify;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<h6 style='margin:0in;margin-bottom:.0001pt;text-align:center;page-break-after:avoid;text-autospace:none;font-size:9.0pt;font-family:"Times New Roman","serif";color:windowtext;font-weight:normal;text-decoration:underline;'><b><font style="font-size: 10.0pt">Exhibit Index</font></b></h6>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="100%">
 <tr>
  <td width=103 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; width:12%;border-bottom:
  1.0pt solid windowtext;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'><b>Exhibit </b></p>
  </td>
  <td width=16 valign=bottom style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'><b>&nbsp;</b></p>
  </td>
  <td width=615 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; width:85%;border-bottom:
  1.0pt solid windowtext;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'><b>Description</b></p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='mso-style-name:Table8;margin:0in;margin-bottom:.0001pt;font-size:8.0pt;font-family:"Times New Roman","serif";color:windowtext;layout-grid-mode:line;text-autospace:none'><font style="font-size: 10.0pt">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>2.1</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Agreement and Plan of Merger, dated as of March 20, 2014,
  by and between First Citizens Bancshares, Inc. and Southern Heritage
  Bancshares, Inc., as amended. (a)</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>10.1</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Loan Agreement, dated as of October 1, 2014, by and
  between First Citizens Bancshares, Inc. and First Tennessee Bank, National
  Association.</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>10.2</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Pledge and Security Agreement, dated as of October 1,
  2014, by and between First Citizens Bancshares, Inc. and First Tennessee Bank,
  National Association.</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>10.3</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Promissory Note (Fixed Rate), dated as of October 1, 2014,
  by and between First Citizens Bancshares, Inc. and First Tennessee Bank,
  National Association.</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>10.4</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Promissory Note (Floating Rate), dated as of October 1,
  2014, by and between First Citizens Bancshares, Inc. and First Tennessee Bank,
  National Association.</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>10.5</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Employment Agreement by and between First Citizens
  Bancshares, Inc. and Lee Stewart dated July 16, 2014. (b)</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>&nbsp;</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=103 valign=top style='width:12%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>99.1</p>
  </td>
  <td width=16 valign=top style='width:3%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>
  </td>
  <td width=615 valign=top style='width:85%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>Press Release dated October 1, 2014.</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<table border="0" width="100%">
	<tr>
		<td valign="top"><font size="2">(a)</font></td>
		<td width="1817" valign="top">

<p style='margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:
ideograph-numeric ideograph-other; margin-right:0in; margin-top:0in'>Incorporated by reference to
Annex A to the Proxy Statement/Prospectus included in First Citizens
Bancshares, Inc.&#146;s registration statement on Form S-4/A filed on August 21,
2014 (File No. 333-197512).</p>

		</td>
	</tr>
	<tr>
		<td valign="top">&nbsp;</td>
		<td width="1817" valign="top">

<p style='margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext; margin-right:0in; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td valign="top"><font size="2">(b)</font></td>
		<td width="1817" valign="top">

<p style='margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-autospace:
ideograph-numeric ideograph-other; margin-right:0in; margin-top:0in'>Incorporated by reference to Exhibit
10.7 to First Citizens Bancshares, Inc.&#146;s registration statement on Form S-4
filed on July 18, 2014 (File No. 333-197512).</p></td>
	</tr>
	<tr>
		<td valign="top">&nbsp;</td>
		<td width="1817" valign="top">
		<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:.5in;text-indent:-.5in;text-autospace:
ideograph-numeric ideograph-other'>&nbsp;</p></td>
	</tr>
	<tr>
		<td>&nbsp;</td>
		<td width="1817">
		<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:.5in;text-indent:-.5in;text-autospace:
ideograph-numeric ideograph-other'>&nbsp;</p></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:.5in;text-indent:-.5in;text-autospace:
ideograph-numeric ideograph-other'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:.5in;text-indent:-.5in;text-autospace:
ideograph-numeric ideograph-other'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:.5in;text-indent:-.5in;text-autospace:
ideograph-numeric ideograph-other'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;margin-left:.5in;text-indent:-.5in;text-autospace:
ideograph-numeric ideograph-other'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:8.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;text-align:center'>

&nbsp;</div>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";color:windowtext;'>&nbsp;</p>

</div>

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</html>
[{"type": "8-K", "sequence": "1", "filename": "esfircit8k.htm", "secsgml_size_bytes": 73867}]
{"company-data": {"conformed-name": "FIRST CITIZENS BANCSHARES INC /TN/", "cik": "0000719264", "assigned-sic": "6022", "irs-number": "621180360", "state-of-incorporation": "TN", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-11709", "film-number": "141133057"}, "business-address": {"street1": "COURT ST", "street2": "P O BOX 370", "city": "DYERSBURG", "state": "TN", "zip": "38024-0370", "phone": "9012854410"}, "mail-address": {"street1": "P O BOX 370", "city": "DYERSBURG", "state": "TN", "zip": "38025-0370"}}
Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 1,
2014
FIRST CITIZENS BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
Tennessee
000-11709
62-1180360
(State or other jurisdiction
(Commission File Number)
(I.R.S. Employer
of incorporation)
Identification No.)
One First
  Citizens Place
Dyersburg,
  Tennessee
38024
(Address
  of principal executive offices)
(Zip
  Code)
(731) 285-4410
(Registrant's telephone number, including area code)
Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation
of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item
1.01              
Entry into a Material Definitive Agreement.
On
October 1, 2014, First Citizens Bancshares, Inc. (the "Company") entered into a
Loan Agreement, Pledge and Security Agreement, Promissory Note (Fixed Rate) and
Promissory Note (Floating Rate) (collectively, the "Loan Documents") with First
Tennessee Bank, National Association (the "Lender"), pursuant to which the
Lender has agreed to extend to  the Company two five-year term loans in the
aggregate maximum principal amount of $12,000,000 (the "Credit Facilities").
The Loan Documents provide that the Credit Facilities will be repaid in
quarterly installments of principal and interest based on a ten-year
amortization schedule at a rate of interest as follows:
the $6,000,000 five-year fixed rate loan
will accrue interest at a fixed rate of 3.76%; and
the $6,000,000 five-year floating rate
loan will accrue interest at the 90 day rounded LIBOR plus 2%.
The Credit Facilities are secured by a pledge of 51% of the stock of
First Citizens National Bank, the Company's wholly owned subsidiary. The Loan Documents also contain a number of affirmative and negative
covenants, including limitations on the incurrence of additional debt, liens on
property, guarantees, mergers, consolidations, liquidations and dissolutions,
asset sales, dividends and other payments in respect of our capital stock, relocation
of the Company's principal office, principal banking office, or principal
registered office, and transactions with affiliates. The Company is using the
proceeds of the Credit Facilities to finance a part of the cash portion of the
merger consideration payable to shareholders of Southern Heritage Bancshares,
Inc. as described below.
The
foregoing description of the Loan Documents is not complete and is qualified in
its entirety by reference to the Loan Agreement, Pledge and Security Agreement,
Promissory Note (Fixed Rate) and Promissory Note (Floating Rate), which are
attached to this report as Exhibits 10.1, 10.2, 10.3 and 10.4, respectively,
and are incorporated herein by reference.
Item
2.01              
Completion of Acquisition or Disposition
of Assets.
On October 1, 2014, the Company issued a
press release, which is attached hereto as Exhibit 99.1 and incorporated herein
by reference, announcing that on October 1, 2014, the Company completed its previously
announced acquisition of Southern Heritage Bancshares, Inc. ("Southern
Heritage") pursuant to the terms of the Agreement and Plan of Merger dated as
of March 20, 2014, as amended (the "Merger Agreement"). In accordance with the
Merger Agreement, Southern Heritage merged with and into the Company, with the
Company continuing as the surviving corporation (the "Merger"). As a result of
the Merger, Southern Heritage's wholly owned subsidiary, Southern Heritage Bank
(the "Bank"), became a wholly owned subsidiary of the Company.
As of December 31, 2013, Southern Heritage
had total assets of approximately $237 million and shareholders' equity of
approximately $30 million. The Bank is a full service commercial bank with
three locations in Cleveland, Bradley County, Tennessee, and had total loans of
approximately $139 million and deposits of approximately $206 million as of
December 31, 2013.
Following the closing of the Merger, all outstanding shares of Southern Heritage
stock were converted into the right to receive an aggregate of (i)
$16,085,903.75 in cash and (ii) 269,302 shares of Company common stock and
108,356 shares of Company Class A common stock, depending on the class of
Southern Heritage stock held and subject to adjustment as set forth in the
Merger Agreement. Southern Heritage shareholders who hold Southern Heritage
common stock will receive Company common stock and Southern Heritage
shareholders who hold Southern Heritage Class A common stock, Southern Heritage
Class B common stock or Southern Heritage Series A preferred stock will receive
Company Class
A common stock.
Each share of Southern Heritage stock issued and outstanding immediately prior
to the effective time of the Merger was, subject to the election procedures and
adjustments described in the Merger Agreement, converted into the right to
receive (i) $12.25 in cash, plus (ii) 0.2876 of a share of Company stock. In
lieu of the issuance of any fractional shares of Company stock, the Company will
pay to each former Southern Heritage shareholder who would otherwise be entitled
to receive any fractional shares an amount in cash determined by multiplying (i)
$42.60 by (ii) the fraction of a share of Company common stock to which such holder would otherwise be entitled to
receive.
The
foregoing description of the Merger and the Merger Agreement does not purport
to be complete and is qualified in its entirety by reference to the Merger
Agreement, which is filed as Exhibit 2.1 to this report and is incorporated
herein by reference.
Item 5.02
Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On October 1, 2014, the Company issued a press release, which is attached hereto
as Exhibit 99.1 and incorporated herein by reference, announcing that pursuant
to the terms of the Merger Agreement, on October 1, 2014, effective immediately
following the effective time of the Merger, J. Lee Stewart, Southern Heritage's
former President and Chief Executive Officer, was appointed to the Company's
Board of Directors. Mr. Stewart has not yet been appointed to any committees of
the Board. In addition to the stay-pay or retention bonus payment made to Mr.
Stewart pursuant to the Merger Agreement, Mr. Stewart is a party to an
Employment Agreement with the Company that provides for an initial annual base
salary of $180,000, annual performance-based cash incentives and certain
additional incentives. The foregoing description of Mr. Stewart's Employment
Agreement does not purport to be complete and is qualified in its entirety by
reference to the Employment Agreement, which is filed as Exhibit 10.5 to this
report and is incorporated herein by reference.
Item
7.01              Regulation FD Disclosure.
On
October 1, 2014, the Company issued a press release regarding its acquisition
of Southern Heritage.  The press release is furnished hereto as
Exhibit 99.1 and incorporated herein by reference.
Item
9.01
Financial Statements and Exhibits.
(d) Exhibits
Exhibit 2.1
Agreement and Plan of Merger, dated as of March 20, 2014,
  by and between First Citizens Bancshares, Inc. and Southern Heritage
  Bancshares, Inc., as amended. (a)
Exhibit 10.1
Loan Agreement, dated as of October 1, 2014, by and
  between First Citizens Bancshares, Inc. and First Tennessee Bank, National
  Association.
Exhibit 10.2
Pledge and Security Agreement, dated as of October 1,
  2014, by and between First Citizens Bancshares, Inc. and First Tennessee Bank,
  National Association.
Exhibit 10.3
Promissory Note (Fixed Rate), dated as of October 1, 2014,
  by and between First Citizens Bancshares, Inc. and First Tennessee Bank,
  National Association.
Exhibit 10.4
Promissory Note (Floating Rate), dated as of October 1,
  2014, by and between First Citizens Bancshares, Inc. and First Tennessee Bank,
  National Association.
Exhibit 10.5
Employment Agreement by and between First Citizens
  Bancshares, Inc. and Lee Stewart dated July 16, 2014. (b)
Exhibit 99.1
Press Release dated October 1, 2014.
(a)
Incorporated by reference to
Annex A to the Proxy Statement/Prospectus included in First Citizens
Bancshares, Inc.'s registration statement on Form S-4/A filed on August 21,
2014 (File No. 333-197512).
(b)
Incorporated by reference to Exhibit
10.7 to First Citizens Bancshares, Inc.'s registration statement on Form S-4
filed on July 18, 2014 (File No. 333-197512).
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
FIRST CITIZENS BANCSHARES, INC.
Date: October 1, 2014
By:
/s/ Laura Beth Butler
Laura Beth Butler
Executive Vice President and
  Chief Financial Officer
Exhibit Index
Exhibit
Description
2.1
Agreement and Plan of Merger, dated as of March 20, 2014,
  by and between First Citizens Bancshares, Inc. and Southern Heritage
  Bancshares, Inc., as amended. (a)
10.1
Loan Agreement, dated as of October 1, 2014, by and
  between First Citizens Bancshares, Inc. and First Tennessee Bank, National
  Association.
10.2
Pledge and Security Agreement, dated as of October 1,
  2014, by and between First Citizens Bancshares, Inc. and First Tennessee Bank,
  National Association.
10.3
Promissory Note (Fixed Rate), dated as of October 1, 2014,
  by and between First Citizens Bancshares, Inc. and First Tennessee Bank,
  National Association.
10.4
Promissory Note (Floating Rate), dated as of October 1,
  2014, by and between First Citizens Bancshares, Inc. and First Tennessee Bank,
  National Association.
10.5
Employment Agreement by and between First Citizens
  Bancshares, Inc. and Lee Stewart dated July 16, 2014. (b)
99.1
Press Release dated October 1, 2014.
(a)
Incorporated by reference to
Annex A to the Proxy Statement/Prospectus included in First Citizens
Bancshares, Inc.'s registration statement on Form S-4/A filed on August 21,
2014 (File No. 333-197512).
(b)
Incorporated by reference to Exhibit
10.7 to First Citizens Bancshares, Inc.'s registration statement on Form S-4
filed on July 18, 2014 (File No. 333-197512).