First Advantage to go private, cease NASDAQ trading May 10 at market close

The board of directors for First Advantage Bancorp, the holding company for Clarksville-based First Advantage Bank, has approved a move to leave the NASDAQ Stock Market and take the bank private. The organization will utilize SecondMarket to facilitate stock transactions and shareholder communications, it said. The company expects the move to create more shareholder value, allow the management team to focus on strategic plans for ongoing growth, and dramatically reduce its administrative costs. First Advantage Bancorp began trading publicly in 2007 and will cease NASDAQ trading at the close of the market on May 10. First Advantage Bank will continue to maintain clear communications with shareholders through SecondMarket, it said.