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
TheStreet Open House

Minden Bancorp, Inc. Reports Results Of Operations For The Year And 4th Quarter Ended December 31, 2013

MINDEN, La., Feb. 18, 2014 (GLOBE NEWSWIRE) -- Minden Bancorp, Inc. (the "Company") (OTCBB:MDNB) today reported net income for the quarter ended December 31, 2013 of $888,000 or $0.37 per diluted share, as compared to net income of $792,000 or $0.32 per diluted share for the quarter ended December 31, 2012. The $96,000 or 12.1% increase reflects a $127,000 increase in net interest income, a $65,000 increase in non-interest income, a $51,000 increase in non-interest expense and a $7,000 decrease in the provision for loan losses. Income tax expense increased by $52,000 for the quarter ended December 31, 2013 as compared to the quarter ended December 31, 2012 primarily due to increased net income.

The Company reported net income of $3.4 million or $1.41 per diluted share for the year ended December 31, 2013, an increase of $379,000 or 12.5% as compared to net income of $3.0 million or $1.23 per diluted share for the year ended December 31, 2012.

Total assets increased $12.4 million or 4.5% to $288.9 million at December 31, 2013 compared to $276.5 million at December 31, 2012. The increase primarily reflected a $2.2 million increase in cash and cash equivalents, a $1.1 million increase in investment securities and a $9.7 million increase in net loans. Total deposits increased by $11.5 million or 4.9% to $245.5 million at December 31, 2013.

Stockholders' equity increased by $1.3 million or 3.3% to $41.6 million at December 31, 2013 as compared to $40.3 million at December 31, 2012. The increase was in part due to net income of $3.4 million and the exercise of stock options of $254,000 for the year ended December 31, 2013. Stockholders' equity was reduced by other comprehensive loss of $1.4 million, dividends paid of $606,000 and the purchase of treasury stock in the amount of $511,000. Stockholders' equity per share amounted to $17.70 at December 31, 2013.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
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 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • 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