December 31, 2011 and 2010

(In thousands)

	2011	2010
Assets
Cash	$ 380	$ 304
Investment in subsidiaries	111,378	97,231
Other assets	39	26
Total assets	$111,797	$97,561
Liabilities and shareholders' equity
Liabilities
Long term debt	$ 10,310	$10,310
Accrued expenses	74	25
Total liabilities	10,384	10,335
Shareholders' equity	101,413	87,226
Total liabilities and shareholders' equity	$111,797	$97,561

FIRST CITIZENS BANCSHARES, INC.

(Parent Company Only)

Condensed Statements of Income

Years Ended December 31, 2011 and 2010

(In thousands)

	2011	2010
Income
Dividends from bank subsidiary	$ 4,950	$4,050
Other income	7	7
Total income	4,957	4,057
Expenses
Interest expense	218	221
Other expenses	286	204
Total expenses	504	425
Income before income taxes and equity in undistributed net income of bank subsidiary	4,453	3,632
Income tax benefit	(167)	(144)
	4,620	3,776
Equity in undistributed net income of bank subsidiary	7,242	5,099
Net income	$11,862	$8,875

FIRST CITIZENS BANCSHARES, INC.

(Parent Company Only)

Condensed Statements of Cash Flows

Years ended December 31, 2011 and 2010

(In thousands)

	2011	2010
Operating activities
Net income	$11,862	$8,875
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed income of subsidiary	(7,242)	(5,099)
Increase in other assets	(15)	(26)
Increase (decrease) in other liabilities	49	(49)
Net cash provided by operating activities	4,654	3,698
Financing activities
Payment of dividends	(3,972)	(3,770)
Treasury stock transactions – net	(606)	24
Net cash used by financing activities	(4,578)	(3,600)
Increase in cash	76	98
Cash at beginning of year	304	206
Cash at end of year	$ 380	$ 304

FIRST CITIZENS BANCSHARES INC /TN/ 10-K