First Advantage Bancorp (FABK) Approves Open Market Purchases to Fund Equity Incentive Plan
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First Advantage Bancorp (Nasdaq: FABK) today announced that it has authorized the funding of a trust that will purchase up to 210,587 shares, or approximately 4.0%, of the Company's outstanding common stock.
The shares acquired by the trust will be used to fund restricted stock awards under the Company's 2008 Equity Incentive Plan, which was approved by shareholders at the Company's annual meeting held on June 11, 2008. Purchases will be made in the open market from time to time at the discretion of the independent trustee of the trust.
First Advantage Bancorp operates as the holding company for First Federal Savings Bank, which provides banking and financial services to individual and corporate customers primarily in Tennessee.
The shares acquired by the trust will be used to fund restricted stock awards under the Company's 2008 Equity Incentive Plan, which was approved by shareholders at the Company's annual meeting held on June 11, 2008. Purchases will be made in the open market from time to time at the discretion of the independent trustee of the trust.
First Advantage Bancorp operates as the holding company for First Federal Savings Bank, which provides banking and financial services to individual and corporate customers primarily in Tennessee.
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