EARNINGS PER COMMON SHARE

3 Months Ended

Mar. 31, 2012

EARNINGS PER COMMON SHARE [Abstract]

EARNINGS PER COMMON SHARE

NOTE 3 - EARNINGS PER COMMON SHARE

Basic earnings per share ("EPS") is calculated by dividing net income available to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted EPS is computed in a manner similar to that of basic EPS except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares (computed using the treasury stock method) that would have been outstanding if all potentially dilutive common stock equivalents (such as stock options and unvested restricted stock) were vested during the period.  The weighted average  common shares outstanding equals the gross number of common shares issued less unallocated shares held by the First Advantage Bank Employee Stock Ownership Plan ("ESOP"), nonvested restricted stock awards under the Company's 2007 Deferred Compensation Plan and nonvested restricted stock awards under the Company's 2008 Equity Incentive Plan.  Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued.  Potential common shares to be issued include any restricted shares authorized under the Company's 2007 Deferred Compensation Plan and the 2008 Equity Incentive Plan.  Unallocated common shares held by the ESOP are shown as a reduction in stockholders' equity and are included in the weighted-average number of common shares outstanding for diluted EPS calculations as they are committed to be released.

Basic and diluted earnings per share are computed as follows:

(Dollars in thousands, except share and per share amounts)	Three Months Ended March 31,
	2012		2011
Net income	$	925	$	358
Weighted-average shares - Basic EPS		3,998,329		4,107,813
Weighted-average restricted shares -
2007 Deferred Compensation Plan		-		12,007
2008 Equity Incentive Plan		124,115		43,327
Weighted-average shares -
ESOP committed to be released - diluted EPS		113,966		97,576
Weighted-average shares - Diluted EPS		4,236,410		4,260,723
Basic earnings per common share	$	0.23	$	0.09
Diluted earnings per common share	$	0.22	$	0.08