This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Minden Bancorp, Inc. Reports Results Of Operations For The Year And 4th Quarter Ended December 31, 2012

Net interest income for the three months ended December 31, 2012 increased $169,000 or 8.6% to $2.1 million as compared to $2.0 million for the same period in 2011. Net interest income increased $665,000 or 8.7% to $8.4 million for the year ended December 31, 2012 as compared to $7.7 million for the same period in 2011. The increase in net interest income for the three months ended December 31, 2012 reflected an increase in interest income of $125,000 combined with a $44,000 decrease in interest expense. The increase in net interest income for the year ended December 31, 2012 reflected an increase in interest income of $438,000 combined with an interest expense decrease of $227,000. Interest income variances primarily reflect the continued growth of our loan and investment portfolios. Interest expense decreases are a reflection of the continued re-pricing downward of our deposit liabilities resulting from the decline in interest rates. 

The provision for loan losses amounted to $30,000 and $120,000 for the three months and year ended December 31, 2012, respectively. At December 31, 2012, the Company's total nonperforming assets and troubled debt restructurings amounted to $1.4 million or 0.5% of total assets as compared to $1.1 million or 0.4% at December 31, 2011. 

Total non-interest income decreased from $300,000 and $1.2 million for the three months and year ended December 31, 2011, respectively, to $162,000 and $719,000 for the comparable periods in 2012. Non-interest income for the year ended December 31, 2011 includes a gain on the sale of assets of $212,000. There were no sales of investment securities for the year ended December 31, 2012 as compared to the sale of $18.4 million of investment securities during the year ended December 31, 2011.

Non-interest expense decreased from $1.2 million and $4.5 million for the three months and year ended December 31, 2011, respectively, to $1.1 million and $4.4 million for the comparable periods in 2012. 

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs