Reduce liability for losses on commercial accounts by adhering to four requirements.
Minden Bancorp Declares Cash Dividend, Adopts Stock Repurchase Program
Oct 12 - The board of Minden (La.) Bancorp Inc. (OTCBB:MDNB) has declared a cash dividend of $0.075 per share on the common stock of the company, payable on Nov. 2, 2012, to the shareholders of record at the close of business on Oct. 22, 2012.
The board of directors also approved the adoption of the company's second 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 50,000 shares, or approximately 2 percent of the company's outstanding common stock, from time to time, in open market or privately negotiated transactions. The company will commence the second repurchase program on completion of its first repurchase program covering 70,000 shares previously announced in May 2012. As of the date hereof, approximately 7,700 shares remain to be repurchased pursuant to the first repurchase program.
Minden Bancorp Inc., headquartered in Minden, La., is the holding company for MBL Bank. The bank is a 102-year-old Louisiana thrift serving Minden and the surrounding areas of northwest Louisiana from two banking offices. The bank offers a wide variety of financial services and products throughout its market area. At June 30, 2012, the company had assets of $256.8 million, total liabilities of $217.5 million and total stockholders' equity of $39.3 million.