MINDEN, La., Feb. 13, 2013 (GLOBE NEWSWIRE) -- Minden Bancorp, Inc. (the "Company" or "Minden Bancorp") (OTCBB:MDNB) today announced that its Board of Directors approved the adoption of the Company's third stock repurchase program following MBL Bank's second step conversion offering completed in January 2011. The stock repurchase program provides for the repurchase of up to 120,000 shares, or approximately 5% of the Company's outstanding common stock, from time to time, in open market or privately negotiated transactions. The Company will commence the third repurchase program upon completion of its second repurchase program covering 50,000 shares previously announced in October 2012. As of the date hereof, approximately 30,500 shares remain to be repurchased pursuant to the second repurchase program. Upon completion of the third repurchase program, the Company will have repurchased approximately 10% of its issued and outstanding shares of common stock.
Minden Bancorp, Inc. Announces Adoption Of New Stock Repurchase Program
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts