This Day On The Street
Continue to site right-arrow
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Minden Bancorp, Inc. Reports Results Of Operations For The 2nd Quarter Ended June 30, 2013

Stocks in this article: MDNB

MINDEN, La., July 23, 2013 (GLOBE NEWSWIRE) -- Minden Bancorp, Inc. (the "Company") (OTCBB:MDNB) today reported net income for the quarter ended June 30, 2013 of $869,000 or $0.36 per diluted share, as compared to net income of $755,000 or $0.31 per diluted share for the quarter ended June 30, 2012. The $114,000 or 15.1% increase reflects a $72,000 increase in net interest income and a $20,000 increase in non-interest income, decreases in non-interest expense and the provision for loan losses of $1,000 and $8,000, respectively. Additionally, income tax expense decreased by $13,000 for the quarter ended June 30, 2013 as compared to the quarter ended June 30, 2012 primarily due to increased income from tax-free municipals.

The Company reported net income of $1.7 million or $0.69 per diluted share for the six months ended June 30, 2013, an increase of $220,000 or 15.3% as compared to net income of $1.4 million or $0.59 per diluted share for the six months ended June 30, 2012.

Total assets decreased $7.8 million or 2.8% to $268.7 million at June 30, 2013 compared to $276.5 million at December 31, 2012. The decrease primarily reflected a $17.4 million decrease in cash and cash equivalents partially offset by a $2.0 million increase in investment securities and a $7.9 million increase in net loans. Total deposits decreased by $7.5 million or 3.2% to $226.5 million at June 30, 2013. The decrease in deposits reflected normal seasonal withdrawals. 

Stockholders' equity increased by $234,000 or 0.6% to $40.6 million at June 30, 2013 as compared to $40.3 million at December 31, 2012. The increase was in part due to net income of $1.7 million and the exercise of stock options of $179,000 for the six months ended June 30, 2013. Stockholders' equity was reduced by other comprehensive loss of $1.5 million and the purchase of treasury stock in the amount of $35,000. Stockholders' equity amounted to $17.09 per share at June 30, 2013.  

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs