Minden Bancorp, Inc. Announces Adoption of New Stock Repurchase Program
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., headquartered in Minden, Louisiana, is the holding
company for MBL Bank.The Bank is a 102 year old Louisiana-chartered
FDIC-insured 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.
The Company's filings with the Securities and Exchange Commission are
available at the Securities and Exchange Commission's website at
http://www.sec.gov.The press release can be found on Minden Bancorp's website
This news release may contain forward-looking statements as the term is
defined in the Private Securities Litigation Reform Act of l995.
Forward-looking statements include statements regarding anticipated future
events and can be identified by the fact that they do not relate strictly to
historical or current facts.They often include words such as "believe,"
"expect," "anticipate," "estimate," and "intend" or future or conditional
verbs such as "will," "would," "should," "could," or "may." Such
forward-looking statements, by their nature, are subject to risk and
uncertainties, which could cause actual results to differ materially from
those currently anticipated due to a number of factors.Such factors include,
but are not limited to, changes to interest rates which could affect the net
interest margin and net interest income, the possibility that increased demand
or prices for the Company's financial services and products may not occur,
changing economic and competitive conditions, technological developments, and
other risks and uncertainties, including those detailed in the Company's
filings with the Securities and Exchange Commission.The Company does not
undertake to update any forward-looking statements.
The Minden Bancorp, Inc. logo is available at
CONTACT: For Further Information:
Jack E. Byrd, Jr., Chairman/President/CEO
Becky T. Harrell, Treasurer/CFO
Minden Bancorp, Inc. Logo
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